Why was the price on this Burbank home so low?

I sold 2112 N. Brighton in Burbank sold in early October for its list price, $430,000.  That price seems low for a Burbank home these days, yes? What happened here?

One word, three times: location, location, location.  This home is located 1 block from the freeway, one block on two sides from industrial property, and six blocks from the airport.  All of these elements -- known as "incurable defects" -- served to keep the price below average.

Plus, the house itself was not large -- it was a 2+1 with a den.  There was no air conditioning.  It needed a lot of updates. The sellers let the yard go.  The only exciting feature was a new garage at the back of the property.

And we asked potential buyers to forego pest work of about $6000.  (Yes, pest work is negotiable.) Plus, the sellers had just purchased another home, so they weren't inclined to wait for a higher offer. We had it in escrow within five days of listing and a fair price was had by both sellers and buyers.

Why was the price on this Burbank home so low? Rating: 4.5 Diposkan Oleh: jembe