Burbank Homes for Sale

Burbank Real Estate & Homes for Sale

There are currently 101 active homes for sale in Burbank.  Of these, 8 are Burbank bank owned homes and 16 are Burbank short sale homes. There are 10 luxury homes in Burbank priced over $950,000.

Burbank real estate statistics:

The montly supply of inventory from October '08 to October '09 is down 61.4% for single family homes in Burbank, CA

The average days on market has decreased 21% during this time frame to 47 days.

The number of homes for sale has fallen 52%.

From the graphs above, the supply of homes available for active buyers has been reduced dramatically because more homebuyers in Burbank are in the marketplace.

Source: Homes.LA, Terradatum

Links:

Burbank Notary

Homebuyer Tax Credit Extended

BREAKING NEWS!!!!!

Obama Signs Extended Tax Credit into Law

Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010.
Read more...

Tarzana Real Estate

Here is the latest real estate market update for Tarzana, CA.  Monthly supply of inventory for single family homes in Tarzana is down 67% from a year ago.

The median sold price for single family homes in Tarzana has jumped 76% in the last year to $825,000.

According to Homes.LA San Fernando Valley Real Estate web-site, there are a total of 88 active single family homes for sale in Tarzana. 

Quick Links:

Tarzana Real Estate

Tarzana Luxury Homes and Estates
Tarzana Short Sale Homes / Pre-foreclosure

Source: Terradatum.com, Homes.LA

Is it a Good Time to Buy a Home?

Is it a good time to buy a home here in the San Fernando Valley?

That would depend.  It's hard to lump sum all buyers into one category when everyone is different, and what might be a good time for one buyer might not be for another.

If you're a first time home-buyer looking to buy a home in the San Fernando Valley, you probably have already missed the boat.  Why?  Because the number of available bank owned homes is down dramatically, and short sales homes are taking 4-6 months to close with multiple offers. 

It's important to note that the bottom end of the market, single family homes priced between $250K to $400K, has already compacted and going up in price.  In fact, I believe there are 15 buyers for every home in this category.

Homes priced between $400K to $729K are about to bottom out if not already done so. If you're a buyer looking to buy a home in the San Fernando Valley in this price range, you better move fast.

There appears some flexibility of homes priced over $729K. 

If you own a home here in the San Fernando Valley, be sure to get my market snapshot report. This free report details active and sold homes near your home in the San Fernando Valley.  Plus, you'll get updated every few weeks.

Encino Real estate Market Report

Here is the market update for Encino Real Estate .  The number of homes for sale in Encino has fallen 37% since September of '08.  Median sold price has fallen 14% to $683,500 from $799,000 during this time period.  The number of homes in escrow has risen 18%.  Average days on market for a home in Encino is around 38 days.

Here is the breakdown of active home for sale in Encino:
Encino Luxury Homes and Estates - 75 active homes
Encino Short Sale Homes and homes in pre-foreclosure - 23 active homes
Encino Bank Owned Homes - REO and Foreclosures - 3 active homes
Encino Single Family Homes - 97 active homes
Encino Condos and Townhomes - 39 active condos

Currently there is a total supply of 136 active homes for sale in Encino.

If you own a home in Encino, visit Encino home values to get your free market snapshot report.

Source: Terradatum, Homes.LA, Realtytech, SOCALmls
Data as of October 27, 2009
Encino Notary

Home Sales on the Rise

Visit msnbc.com for Breaking News, World News, and News about the Economy

San Fernando Valley Real Estate; data, average selling price, number of homes on the market

 

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Los Angeles Notary

If you are in escrow and can't make it to the escrow company to sign your loan documents, you can have a Los Angeles Notary pick up the documents from the escrow company and meet you at your home or office. This helps save time, money, and best of all the cost is the same.

A great notary I can recommend is Swan Johnston. She provides professional mobile notary service in the areas of Encino, Burbank, Studio City, Toluca Lake, Van Nuys, North Hollywood, and most of Los Angeles County.

Call 818-694-9777 for an instant quote!

SHERMAN OAKS - VAN NUYS BOUNDARY CHANGES

The Los Angeles City Council has approved the boundary changes which will move a section of Van Nuys into Sherman Oaks. This change was approved by the Council on July 15, 2009. The boundaries are as follows:

Eastern Boundary - North side of Burbank Blvd., West side of Hazeltine, North side of Califa/Tiara.
Northern Boundary - North side of Califa/Tiara This boundary includes the residences on Vesper Street which may have addresses on Oxnard Blvd. Califa St is located along the western end of the north boundary. The street does not have passage through to Sepulveda Blvd. which is the western boundary. A boundary line is extended from the northwest corner of the intersection of Califa and Halbrent to Sepulveda Blvd. to the west.
Exclusion - East and West side of Van Nuys Blvd., consistent with the current exclusion from Magnolia Blvd. through Burbank Blvd.
Western Boundary - East side of the 405 Freeway.

Sherman Oaks Real Estate
Van Nuys Real Estate

Housing Prices Pick Up in California

As the biggest residential property market in the United States, California often serves as a bellwether for the nation's economic health. And new research from that state suggests that housing prices nationally could start to rebound relatively soon.

The latest data, including two consecutive monthly gains in the median price of existing homes, has some industry officials hopeful that the state housing market has finally reached a bottom and is poised to recover from a prolonged period of declining residential values.

In April, California's single-family median home price rose 1.4 percent to $256,700. While that is still off by more than 36 percent from April 2008, the 540,360 homes sales on a seasonally adjusted annual basis reflect an increase of almost 50 percent over the same period, according to the state’s REALTORS® group.

Source: Wall Street Journal, Jim Carlton (05/29/09)

$8000 Tax Credit Can Be Used As Down Payment

Tax Credit Can Be Used for Down Payment

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.
Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change.

Read more...

Condos and Townhouses for sale

To search for available condos and townhouses for sale in the San Fernando Valley, visit:

http://www.condohomes.la/

Valley Village Real Estate

Valley Village Real Estate Market Update
April 30, 2009

The number of homes for sale in Valley Village is down 37% compared to a year ago this March for single family homes. What this means is that home-buyers are starting to purchase single family homes in Valley Village. The graph below indicated this trend.


The number of homes under contract (pending-in escrow) in Valley Village has increased 56% compared to a year ago this March for single family homes in Valley Village. This is the result of home-buyers writing offers on Valley Village bank owned homes and Valley Village short sale homes. The graph below illustrates this trend.

There are currently 48 available homes for sale in Valley Village. Of these homes, 12 are considered Valley Village short sale homes and 7 homes are Valley Village bank owned homes.

Also, there is a total of 21 condos and townhouses for sale in Valley Village.

If you are interested to purchase a home in Valley Village, it's important you work with a Valley Village realtor. A Valley Village real estate agent will know the area and can help you pinpoint your next dream home. If you are a home-seller in Valley Village, be sure you sign-up for my Valley Village Market Snapshot report. This report lists Active, Pending, and SOLD homes near your home.

Written by: Richard Johnston, Rodeo Realty
Valley Village Real Estate Realtor Professional
818-730-4128

Graphs by Terradatum

Granada Hills Real Estate

Granada Hills Real Estate & Market Update

There are currently 81 homes for sale in Granada Hills. Of these homes, 39 are Granada Hills short sale homes, 19 are Granada Hills bank owned homes.

Granada hills is located in the San Fernando Valley, North of Los Angeles. Granada Hills borders the north and south of the 118 freeway and left of the 405 freeway. Northridge / Porter Ranch borders to the West.

Half of the homes in Granada Hills are in some stage of pre-foreclosure. When buying or selling Granada Hills distressed homes, be sure you are working with a professional.

April 24, 1915 - Armenian Genocide Day

Today we remember the Armenian Genocide day - April 24, 1915 where close to 1.5 million Armenians were killed by the Ottoman Empire now known today as the Republic of Turkey.

To learn more about the atrocities committed against the Armenian people, visit:
http://en.wikipedia.org/wiki/Armenian_Genocide