There were 78 property sales in Burbank for November 2020.
Suburbs remain popular, even as cities stage comeback
The pandemic triggered a suburban home rush, and more than a year in, that doesn’t appear to be letting up. Even as big cities stage a housing comeback, the suburbs remain hot.
The number of home buyers shopping nationwide for suburban homes has jumped 42.1% since the pandemic began, realtor.com®’s data shows. Suburban homes comprised 62% of online home views in September compared to 38% for listings in urban areas.
“The suburbs have always attracted home buyers looking for more house for their money, but recent data reflects just how much suburban competition has intensified,” says Danielle Hale, realtor.com®’s chief economist. “With the rise in long-term remote work options and downtown rents making a rapid comeback, suburban vs. urban housing dynamics are shifting.”
Suburban housing activity continues to accelerate at a faster pace than in urban areas, Hale says. Further, “the price premium is shrinking between notoriously expensive urban housing and suburban for-sale homes, typically known for more bargains,” Hale says.
Inventories are slim, however. The number of homes for sale in the suburbs was down 13% annually in September compared to 8% in urban areas, realtor.com® reports.
Prices are rising faster in suburban locales. In 2020, the suburbs outpaced their urban counterparts’ price growth for the first time since 2017. The median listing price per square foot reached $212 in the suburbs in September, which is 18% higher than a year ago and 28.4% higher than the pre-pandemic 2019 level, according to realtor.com®. On the other hand, the median listing price per square foot of urban homes was $226, 14.9%, and 25.4% higher than 2020 and 2019, respectively.
Come revisit these past "HOT HOME"s with me!
Here's an update on 2 "Hot Homes" that I told you about in October 2021.
Hot Home #1: Atoll Ave., Sherman Oaks
Asking price: $2,179,000
Sold price: $2,220,000
Hot Home #2: Griffith Park Dr., Burbank
Asking price: $975,000
Sold price: $1,112,000
Breaking News: We just sold this LA listing!
With a full-on marketing blitz on Instagram, Facebook, Tik Tok, Zillow, Redfin, Trulia, Etc... my latest Los Angeles listing was sold within days of hitting the market. The sellers are thrilled they no longer have to take care of this investment property. The buyers can't wait for the next chapter of their life to begin in their new home. I'm very happy it worked out for both of them! If you know someone who needs to sell their home, please text me their info, and I'll take care of the rest.
Here is my cell number 818-445-7953. Thanks!
CLICK HERE for the properties website.
I'm thankful for all my friends & clients!
It's pie time!
Today is my 4th annual Thanksgiving pie giveaway! To show my appreciation for all the real estate business, referrals, and kindness I have received this year, I'm giving away giant pies for Thanksgiving! Didn't get the invite?
Sign up below and you will get on the list for next year.
Happy Thanksgiving!
24% of CA households could buy a $815K home
Housing affordability in the third quarter improved slightly from the prior quarter as mortgage rates remained low while prices began to level off.
24% percent of California households could afford to purchase the $814,580 median-priced home in the third quarter of 2021, up from 23% in second-quarter 2021 but down from 28% in third-quarter 2020.
A minimum annual income of $148,400 was needed to qualify for the purchase of a median-priced home in the latest quarter in the state.
With interest rates expected to rise and the state median price projected to climb further in 2022, the housing affordability condition will likely get worse in the coming year.
Source: California Association of Realtors.
See the most EXPENSIVE home for sale this week in Burbank!! #gorgeous
This is the most expensive home for sale this week in Burbank.
Asking price: $1,749,900
This reimagined modern farmhouse has 4 bed/3 bath, 2,391 sq. ft. of living space, and is on a 7,140 sq. ft. lot.
The home features oak flooring, a custom installed fireplace in the great room, and stainless steel appliances in the kitchen.
The garage is converted into a studio, and there is a patio and grass in the backyard.
Text me if you want a tour at 818-445-7953.
Be surrounded by IMPECCABLE views in this "HOT HOME" for sale now!
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Studio City.
Asking price: $1,999,000
Mid Century Modern home - 4 bed/3 bath, 2,247 sq. ft. of living space, on a 7,996 sq. ft. lot.
The home features endless views from the 2 decks on the main floor and the private decks off every bedroom.
There are also high-end security doors, a camera system with an alarm, and low maintenance garden outdoors.
Hailee Steinfeld just bought this AWESOME Encino mansion. New home, who dis?!
Hailee Steinfeld just purchased John Fogerty’s Encino mansion.
Asking price: $8,495,000
Selling price: $7,975,000
This custom-built home has 6 bed/8 bath, 9,000 sq. ft. of living space, and is on a 27,660 sq. ft. lot.
The home features an open concept design, motorized glass doors allowing for indoor/outdoor living, a lounge, bar, movie theater, and butler’s pantry.
Who got the better end of the deal, Hailee or John?
21% of buyers waived their inspection contingency
To make their offers more competitive, some home buyers continue to forgo appraisals and home inspections. 21% of buyers waived their inspection contingency in September, and 23% waived their appraisal contingency, according to the REALTORS® Confidence Index Survey for September.
Can you guess how much this home sold for in Highland Park this week?!
Here is the cheapest home sold this week in Highland Park.
Asking price: $849,500
Selling price: $890,000
The home has 3 bed/1 bath, 1,006 sq. ft. of living space, and is on a 4,598 sq. ft. lot.
The hillside home features central AC/Heat, an eat-in kitchen, and a large laundry/mudroom.
There is a detached 2 car garage and storage space under the house.
Do you think this home is worth $890K?
Would you live in one of Pasadena's 1st hotels erected in 1887?
The oldest condo sold this week in Pasadena - built in 1887.
Asking price: $889,000
Selling price: $938,000
The condo is a 3 bed/2 bath and has 1,275 sq. ft. of living space.
The multi-level unit features original oversized windows, stainless steel appliances in the kitchen, and in-unit laundry.
Would you buy a condo this old?
Check out this "Hot Home" with ADU available NOW Lake Balboa!
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Lake Balboa.
Asking price: $1,075,000
The main house and ADU have a combined 5 bed/3 bath, 2,338 sq. ft. of living space, and is on a 6,517 sq. ft. lot.
The home features an open floor plan, a laundry area in the bonus room, and an ADU that is ready to bring in rental income.
Camila Cabello is selling her Hollywood Hills Villa. Take a peek inside before it sells!
Is Camila Cabello finally moving to Havana? Her Villa in the Hollywood Hills above the Sunset Strip is up for sale!
Asking price: $3.95 million
This Mediterranean Revival has 4 bed/4 bath, 3,570 sq. ft. of living space, and is on a 6,320 sq. ft. lot.
The home features a private courtyard, a split-level open floor plan, and a gourmet kitchen.
Outside there is a saltwater pool, al fresco dining, fire pit, fireplace, newly built BBQ, and an attached 2 car garage.
Text me if you want a tour at 818-445-7953.
45% of prospective buyers keep getting outbid
A majority of house hunters say it’s not prices that are keeping them out of the housing market—it’s other buyers. 45% of prospective buyers recently surveyed say they keep getting outbid by other offers, according to a new survey from the National Association of Home Builders. The NAHB says this is only the third time in the survey’s history that the top reason prospective buyers have been unsuccessful has not been due to finding a home at an affordable price.
In the third quarter, 66% of active home buyers say they’ve spent three months or more searching for a home without success.
Source: National Association of Home Builders’ Eye on Housing blog
