burbank real estate: Will Burbank Home Owners get help from the Making Home Affordable Program? - 03/11/09 12:43 AM
The Obama administration has given us some new details on its $275 billion plan to help stem the tide of foreclosures nationwide.
It’s offering many incentives to investors, lenders etc. to entice them into modifying distressed mortgages to keep Americans in their homes. The steep fall in home prices is the … (0 comments)
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burbank real estate: Sobering unemployment and mortgage delinquency numbers - 03/06/09 02:19 PM
I get alot of questions from home buyers asking me if we are at the real estate bottom here in Burbank and the San Fernando Valley and the honest answer is, I don't know. But I will tell you that looking at the unemployment numbers that came out today, I would guess … (0 comments)
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burbank real estate: Pending Home Sales Index, what does it mean to you? - 03/03/09 01:20 PM
Image by Getty Images via Daylife
First, what is the pending home sales index?
The NAR (National Association of Realtors) developed the pending home sales index as an indicator of housing activity. It tends to be a leading indicator of existing home sales, not new home … (1 comments)
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burbank real estate: New Stimulus Package Benefits Real Estate - 02/21/09 03:09 PM
1) the loan limits on mortgages will be raised to $727,000 in high cost areas
2) the tax credit will be raised to $8,000 with NO payback....this is huge!
3) interest rates shoud react favorably to the package(see below)
4) the bill has over $50 billion in it for foreclosure mitigation, … (0 comments)
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burbank real estate: Burbank Real Estate Sales for January 2009 - 02/16/09 06:50 PM
Monthly Activity Report Burbank-January 2009
Month to month average home sale price in Burbank from December 2008 to January 2009 is down $38,507, or 7%.
Average days on market, are up 3 days.
Most notably number of sold properties is down almost 58 % from December … (0 comments)
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burbank real estate: REO or Foreclosure? - 01/21/09 05:23 PM
Ever wonder what the difference is between a foreclosure and an REO or real estate owned property?
A foreclosure is a legal process in which the owner's right to a property is terminated. It usually involves a forced sale of the property by a public auction to repay whatever debt … (1 comments)
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burbank real estate: Reality Sets In.......... - 01/11/09 04:26 PM
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Housing Tracker is predicting a trend of -23.9% for Los Angeles area home prices and Homepredictor.com is prognosticating a 21.7% drop in prices for the Los Angeles area. Many economists are predicting that housing will not rebound in 2009. But how do you know what your area will … (3 comments)
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burbank real estate: Economic Update - 10/09/08 06:39 PM
A couple of things are clear, many people have lost confidence in the financial system and this is not just a U.S. problem as the aftermath of this financial crisis is being felt around the world.
Federal Reserve Chairman Ben Bernanke brokered the broadest coordinated interest rate cut in … (2 comments)
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burbank real estate: Burbank Real Estate Sales Statistics For September 2008 - 10/01/08 04:46 PM
Burbank Closed Sales for September 2008
Month to month average sale price from August to September 2008 is down $14,258, year over year, average sale prices are down by $127,253 or 19%.
Average days on market, year over year are up 23 days.
Average square footage is down … (0 comments)
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burbank real estate: Is This The Bottom? - 09/17/08 06:25 PM
We had another eventful day in the financial markets today:
The Dow shed 449 points (4.1%) to close at 10610 amid fears the credit crisis will claim more victims
Interest rates....The 2-year treasury bill closed at 1.64%, the 5-year treasury note 2.52%, and the 10-year treasury bond gained 14/32s to … (9 comments)
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burbank real estate: Economic Round Up and Burbank Real Estate - 09/16/08 07:49 PM
The Federal Reserve left rates unchanged today, at 2% for the key benchmark, a surprise to some, but while they noted that the financial markets are under more strain with the credit crisis,they cited labor worries and inflation as their top concerns. Providing liquidity for the markets is high on … (1 comments)
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burbank real estate: Economic News And Impacts On Burbank And San Fernando Valley Real Estate - 09/14/08 02:38 PM
Former Federal Reserve Chairman Alan Greenspan, who served as Fed Chairman for 18 years, said this financial crisis will probably lead to the failure of more firms. He went on to say, in his interview with George Stephanopoulos, that this is the worst financial crisis he’s ever seen.
Treasury and … (0 comments)
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burbank real estate: City Of Burbank Housing Element Update - 09/11/08 11:30 PM
Every few years the State of California mandates that cities provide a policy document that outlines programs that both promote the development of affordable housing and reduce any constraints to the development of added housing. Individual cities that do not comply and complete this document risk losing funding for many future … (0 comments)
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burbank real estate: August Closed Sales for Burbank - 09/10/08 07:31 PM
Month to month average sale price is up $30,186, year over year, average sale prices are down by $104,851 or 15.8%.
Average days on market, year over year are down 3 days.
Number of sales is up almost 10%.
These numbers are reflecting several factors……
• Year over year, … (0 comments)
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burbank real estate: Burbank Real Estate Statistics - 08/25/08 11:37 AM
Month to month average sale price is down $45,281, year over year, average sale prices are down by $150,000 or 22.83%.
Average days on market, year over year are up 27 days.
Number of sales is up 16%.
These numbers are reflecting several factors……
Year over … (0 comments)
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burbank real estate: Burbank Home Sale Activity For June 2008 - 08/03/08 02:05 AM
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The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Disclaimer. Fair Housing Notice. Map Disclaimer.
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burbank real estate: Economic Round Up - 07/28/08 03:27 PM
Although there were no major economic reports out today and the housing reform bill was approved and signed into law this weekend,wil be signed into law, the market could not hold on to positive territory. It's expected that this will help Fannie Mae and Freddie Mac stay in business and will … (0 comments)
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burbank real estate: Burbank Homeowners and Renters Assistance Program - 07/26/08 01:41 AM
Burbank homeowners and renters may be eligible for free state monies.
This valuable program is offered July 2 to August 28th for eligible Burbank seniors at the Joslyn Center, on Wednesdays from 9- 10am and Thursdays from 1-3pm, by appointment.
Free assistance will be given in order to receive these … (1 comments)
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burbank real estate: Economic Round Up - 07/25/08 06:25 PM
Another interesting week as crude oil continued it's correction, but the market gave some gains back amid earnings and worries over the state of financial institutions.
The Fed approved new rules to protect consumers against mortgage fraud. These rules are expected to go into … (0 comments)
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burbank real estate: National Night Out! - 07/25/08 12:56 AM
Don't forget that on August 5th, 5-8pm, is National Night Out!
This annual event will take place at the Chandler Bikeway and Keystone. The goal is to strengthen neighborhood spirit by encouraging residents and law enforecement to work together on community projects and goals.
What's exciting is that they will … (0 comments)
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