Probably like you, I LOVE BURBANK! And I’ve loved selling real estate here for more than 32 years! But during my career, given the prices  Burbank real estate can command, especially in up or frenzied market cycles, Burbank can be extremely challenging for first time Buyers to crack! I was reminded of this again as I am about to list the home of past clients, Andy & Ellen Smith, who reside in North Hollywood. You see, back in 2010, even though we were still in the aftermath of the financial crash and Great Recession of 2008, the Smith’s still could not afford to buy in Burbank. A single family home was out of the question, and condos, while more affordable, were still just out of their reach. So…. as with several other first-timers I’ve worked with over the years, I suggested broadening their search to “better parts” of the Burbank adjacent areas of North Hollywood and Sun Valley.

Now compared to Burbank, you might be thinking, “Dan, there aren’t any better parts of No Hollywood  or Sun Valley!” Oh, contraire! Regarding No Ho, generally speaking, as long as you stay South or just North of Victory Blvd., you can find some decent product on nice tree-lined streets in safe neighborhoods! In Sun Valley, again, as long as you stay further South, and in the hillside area of Sun Valley (above Glenoaks Blvd.), which includes “Glencrest Hills,” you’ll find your RE dollar goes further when compared to Burbank! For example, right now in Burbank, there are only five listings priced under $700,000, with the least expensive going for $585,000! Compare that to North Hollywood, where there are 24 listings in the $600s or less, with the least expensive priced at $529k! Similar story in Sun Valley – 14 homes in the $600s or less, with the low starting at $495k!

Now don’t get me wrong, the Smith’s would have preferred to have bought in Burbank and enjoyed greater and faster property appreciation,  along with all of the civic amenities a independent city like Burbank can offer. But, approximately 9 years later, their North Hollywood on Cleon Ave., just above Victory Blvd., that they bought for $360,000, will be coming on the market for $600,000! Rather than continuing to pay rent, they bought and started to build wealth utilizing real estate! Do you know anyone who I can help to the same? If so, please contact me!