There were 67 property sales in Burbank for July 2020.
Burbank had 67 property sales for the month of July
There were 53 property sales in Burbank for June 2020.
Burbank had 53 property sales for the month of June
There were 26 property sales in Burbank for May 2020.
Don't miss out on my 2020 market prediction. You must watch now!
Home sales will be strong this Summer.
Expect a dip in sales once the flu season starts.
Look for a bounceback in December.
Home prices will slightly continue to rise the remainder of the year.
60 seconds isn't enough time to go over all my thoughts on what I think will happen in the real estate market for the rest of 2020.
Check out the full answer on my IGTV @DanielLosAngeles.
Episode 38 of The #AskDanielLosAngeles Show
On this episode, I answer the following four real estate questions:
1) What's going to happen in the real estate market for the rest of 2020?
2) What do mortgage interest rates look like for home buyers right now?
3) Has it been difficult to show homes during the pandemic?
4) What's the hardest real estate deal you ever had?
We have almost 20,000 followers on Instagram... come join us!
To tour all for sale homes, you now need a pre-approval letter
It wasn't this extreme before the pandemic, but I am seeing about 40% of all homes on the market now require a buyers loan pre-approval letter just to get in to see the property.
With the Coronavirus still playing a roll in all of our lives, more and more sellers only want to grant access to serious buyers.
I anticipate this percentage to only go up from here.
The days of casually looking at homes on the market are over.
If you want to see ALL the homes on the market, have your pre-approval letter ready!
Your friend should sell their home this summer
Your friend told you they are interested in selling their home sometime in 2020. You should let them know that they need to act sooner rather than later. Typically most real estate transactions take place in Springtime. Due to the Coronavirus and homeowners holding off on selling their homes, home sale transactions were down about 40% during the 2020 Spring selling season. Because of this home selling delay, the Spring selling season has essentially been pushed to Summer 2020. It's projected that the Los Angeles area will have an uptick in inventory and have a very strong buyer demand for the entire Summer season. I am recommending to your friend that they sell during this peak time and not wait until Fall or Winter.
The reason to not delay is that the flu season will start in Fall and many of us will get the common flu. Since the symptoms for the Coronavirus and the flu are similar, I am anticipating that during this time daily news reports will say that a second wave of the Coronavirus is coming. This news will make sellers rethink their plans of putting their home on the market. Because of this, I expect the market to see a repeat of what happened when the stay-at-home order was put in place back in late March. If you are not aware, during that time real estate escrows were being canceled left and right. Sellers were offering buyers $10K, $20K, $30k in credits just to stay in escrow. Some buyers took the deal, most did not. Compound that with home sales traditionally being slow in the 4th quarter due to the holidays, and you essentially have a standstill in the real estate market. That's why I am confident that this Summer will be the best time for your friend to see multiple offers on their home and to sell for top dollar.
When your friend is ready to sell their home, I can help them with the sale. Text their name and number to 818-445-7953, and I'll take care of the rest.
Thank you for all your referrals so far this year! I truly appreciate you helping my business thrive during a pandemic.
Here is what my wonderful clients/friends had to say about their home buying experience
Thank you for entrusting me with the biggest purchase of your life (so far) 😁.#repost from @lauran.mn
Home. 🏡
So many feelings. Thankful. Proud. Sad. Excited. We are so thankful for this opportunity in spite of what’s going on in the world right now. Proud because all of our hard work has come to fruition. Sad we’ll be leaving our cozy little apartment and the city we’ve called home for the past 5 years. Excited that we have a new, bigger place to create more memories in as a family. ✨
Also, decided it was probably time to upgrade since we’ll be sheltering in place for who knows how long. All of this could not have happened so quickly and so smoothly without our realtor, @daniellosangeles (Daniel Madariaga). Anyone in need of a realtor should def hit him up.
Burbank has had 13 property sales so far in the month of May
There were 34 property sales in Burbank for the same dates last year, 5/1/19 - 5/16/19.
The Secret of List Price vs Sale Price
There is no rule on what the list price of your home should be.
You can literally put the list price at $1.
I don't recommend doing that because you will get 1,000 offers and you will have to sort through them all to see who the real buyers are.
What can you do to find out if property tax is included in your monthly mortgage, RIGHT NOW?!
An impound account is an account maintained by the mortgage company to collect insurance and tax payments that are necessary for you to keep your home but are not technically part of the mortgage.
Some lenders require this, other lenders don't.
Check with the lender to see what their policies are before choosing to work with them.
Can I submit multiple offers after homeowner rejects my first?
If your initial offer gets rejected by the seller, don't be afraid to submit a new offer.
However, you have to improve either the terms of the deal or the price.
Find out what specifically the seller didn't like about your first offer and change that in your new offer.
For example, maybe the seller liked everything about your offer, but they hated that you wanted 17 days to inspect their home.
Bring that 17 days down to 10 days... maybe that one change will work for the seller and would open up the possibility of you getting an accepted offer.
Episode 37 of The #AskDanielLosAngeles Show
On this episode, I answer the following four real estate questions:
1) My low ball offer was flat out rejected by the home seller. Can I still submit a new offer?
2) Are real estate taxes included with my monthly mortgage payment?
3) What is the difference between a list price and sale price?
4) The buyer for my home is not removing their inspection contingency. Can I cancel the deal?
We have over 20,000 followers on Instagram... come join us!
Your friend needs to get ready now for the home buying surge
Home buying demand has gone down during the stay-at-home order. Instead of 6 offers on a property, sellers are getting 1 or 2.
But the local news is starting to sound a bit more optimistic and there seems to be a light at the end of the tunnel.
In a few short weeks, I believe a buyer surge is coming.
Your friend who mentioned to you that they are thinking of selling their home should start preparing now for that buyer wave. I can help your friend prepare for the sale of their home.
We can immediately work on figuring out what makes their home so special, the properties unique selling proposition, and who the ideal buyer for the property will be. We can hire a professional photographer and videographer. We can also start running an aggressive pre market social media campaign.
However, I need your help to make this happen.
Tell your friend that you know a awesome real estate agent that can help them out. Give them my cell number, 818-445-7953, and have them text me. I'll take it from there.
My team and I are ready for the surge and can't wait to dominate the real estate market!
You can NOW fix and flip this home in Pasadena. Put in an offer NOW!
Let's put in a low ball offer!
Asking price is $525,000.
