As Jimmy Fallon takes over the Tonight Show from Jay Leno, he steers the show to New York City, ending its long occupation of Burbank. With him goes a number of skilled jobs, many of which were held for many years under his predecessor.
Fortunately, this is not a frequent occurrence in Burbank. There has in fact been some job growth in recent years, so the area is not experiencing the economic hard times that other areas are facing. The entertainment industry, the wonderful L.A. climate, and old standbys like good schools keep the city attractive to employers and workers alike.
But just as with the Leno-Fallon transition, sometimes events take place beyond your control, and you find yourself leaving Burbank. Along with all the things to take care of in your new city, you've also got to cut your ties in Burbank. One of the most common dilemmas many people face when moving is how to deal with the sale of their old home. There are a number of challenging decisions to handle in this process, and there is often very little help in choosing your course of action.
Here are a few thoughts on the process and how to work through it.
How Much Do I Ask For The Old Place?
This is probably the area with the most help available. During the appraisal process, a bank or realtor can review the sale of comparable homes in the same area and give you a fairly good idea of what kind of starting point you will want to use. Should you be able to get detailed information about those "comparables" (as they are known in the trade), you would do well to drive by and investigate some details about them. There are things about it beyond square footage and address that play into its value.
One example of these boosts or booms to your asking price is landscaping. If you have a wide array of mature, perennial plants around your home relative to the other sold properties in the area, mark that one in your favor. If you have grass from sidewalk to foundation, consider adding something to the mix--or be prepared to score lower with buyers.
You'll also want to think about what the economists call externalities. These are characteristics of neighboring elements that can hurt or help your property's value. If there's a fire station nearby with sirens screaming at all hours, that hurts value. If you're a little closer to groceries or schools, that helps. Given that Burbank is deeper into the city, our particular area doesn't face much concern with things like brush fires that can complicate life in the city's canyon edges, but traffic and other universal factors are worth addressing.
When Do I Pull The Trigger On An Offer?
Of course, your starting price is just that: Point A. Getting to Point B--an actual sale--is a very different proposition. You will want to beef up your asking price strategically in order to have some negotiating room. Consulting with your realtor--and a realtor is generally recommended--will help. Realtors know the details of what's happening in the Burbank market, and they'll be far more effective at helping you settle on a price than you may realize.
But the offer is only part of when you choose to sell. Do you take an early negotiated offer? Generally speaking, the answer to that is a resounding YES. While the metro L.A. housing market is reasonably strong, you take a sale when you can get a sale.
As we already mentioned, the cause for many sellers' reluctance to go with an offer is usually due to a lack of new quarters. But ask yourself this: With all the self storage Los Angeles has to offer, why would you risk thousands of dollars to use your old home as a storage unit? Don't concern yourself with details like "Where will I keep my furniture?" Go ahead and move out. You can then store your belongings while you are selling your home and have more liberty to work through the sales process. And just think--packing is already finished, and when you do get a new place, it's a simple process of loading it up.Moving is tough, whether in Burbank or anywhere else. Fortunately, some things about the city ease the process. If you're vacating L.A., or simply moving across town, take the time to be logical with your decision and ease the pain.