burbank real estate agent: Burbank home sales
- 04/18/12 05:17 AM
Burbank single family home values are seeing a slight uptrend from February 2012, according to the latest data. (see chart below) Average selling price has rebounded to$501,564, up roughly 2% from December 2011 prices, but down from the spike we saw in January 2012. Days on market were down from 89 to 77 days in the same period. Overall the sweet spot right now continues to be in the lower priced homes, where most of the buyers seem to be concentrated. Today's buyers are well informed and watch the housing market for an average of 6 months before they buy. Many … (0 comments)
burbank real estate agent: Burbank real estate report
- 06/21/11 12:30 PM
All real estate is local and nothing illustrates that point better than the S&P Case Shiller Home Price Index that came out last week. It reported that the average home price for March in the 10 city composite was down .6%(non seasonally adjusted) and the 20 city composite was down .2%. Actually if you read the report, the overall data was not that bad, but obviously showed a downtrend in prices. 18 out of the 20 areas did show a downtrend when you look at the unadjusted three month average. In case you are curious the S&P Case Shiller Home Price … (1 comments)
burbank real estate agent: Why you need a title report
- 05/10/11 06:49 AM
Many first time home buyers sometimes wonder why they need to go through a title search. Let's first define what a title report is, which is the process of search through the historical ownership and restrictions of real property. It makes a determination that the seller does indeed own the property and has the right to sell it It tells you about any types of land use restrictions on the property such as easements It looks for any liens or claims on the property for unpaid taxes, unpaid mortgages or mechanic liens. Here are some possible problems that you could uncover: … (1 comments)
burbank real estate agent: Chandler Bikeway
- 05/03/11 04:42 PM
If you want to get out on a beautiful evening like tonight and really experience the flavor of Burbank, all you have to do is take a walk, jog, run or bicycle ride on the lovely two miles of the Chandler Bikeway. The project represents a wonderful example of adaptive reuse. The Chandler railroad right of way was purchased from Southern Pacific in 1991 and after much thought, debate and planning from the MTA, city council and a citizen's advisory group, construction began in 2003. While the MTA and other entities had envisioned a rail project of some sort, the community … (0 comments)
burbank real estate agent: Weekly housing market update and Burbank real estate news
- 08/23/10 01:03 PM
The weekly economic news continues to point to weakness in jobs, the economy and the housing market. The jobs market is less than optimal as many corporations continue to keep huge cash reserves and are not hiring, add to that the weakness in the economy, which of course is trickling down to the housing market and you have a current outlook that is dismal. I would argue that when we do finally start to see the jobs recovery, then we'll see that effect trickle down to the economy, housing and hopefully lending that is not quite as tight as it is … (1 comments)
burbank real estate agent: Do you know your Hollywood Sign history?
- 03/10/10 05:34 PM
Over the last few years there has been alot of controversy concerning the fate of the Hollywood sign and the Cahuenga Peak land that surround it, so I thought I would provide an update with a bit of history. Image via Wikipedia Over the last few years there has been alot of controversy concerning the fate of the Hollywood sign and the Cahuenga Peak land that surround it, so I thought I would provide an update with a bit of history. The Hollywood sign is an international icon of the entertainment industry. I've always been a huge fan of the Hollywood … (2 comments)
burbank real estate agent: Home Buyer Transaction Fees-Do you know who pays for what?
- 06/03/09 08:47 AM
If you are a first time home buyer, you will want to know who is expected, typically, to pay for what expenses in the home buying transaction process. This list is intended as a guide and keep in mind that everything is negotiable and you can ask the seller to pay for certain fees or closing costs.
Typical buyer expenses:
• Title insurance premium for the Lender’s policy • Half of the escrow fee • Document preparation fee, if applicable • Recording charges for all documents in buyer’s name • Buyer notary fees • Tax proration from the date … (1 comments)
burbank real estate agent: Thinking About Greening Your Burbank Home?
- 04/01/09 11:36 AM
Thinking about greening your home? With so many resources, where do you start? One of my favorite websites is GoGreenTube.com. It's a fantastic resource filled with green videos on that talk about sustainable ideas, tips, how to advice, resources, products and much more! It gets warm here in Burbank and the San Fernando Valley, especially during the summer. So I'm always looking for ideas on how to make my home more energy efficient. My latest find is this video which covers ideas on home energy retrofits:
Have fun greening your home! … (0 comments)
burbank real estate agent: Will Burbank Home Owners get help from the Making Home Affordable Program?
- 03/10/09 05:43 PM
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 main reason we’ve had a global financial meltdown, so the administration’s housing plan is vital to ending the deepening economic recession. The plan is called the “Making Home Affordable Program”, which the administration thinks can help up to 9 million homeowners. There are two primary goals of this plan: · … (0 comments)
burbank real estate agent: Sobering unemployment and mortgage delinquency numbers
- 03/06/09 06:19 AM
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 the answer is probably, no. But keep in mind that we won't know where the bottom actually was until things start to improve. Unemployment hit at 25 year high for February coming in at 8.1% and to make matters worse the numbers from December were revised.....for a total loss of 681,000. The … (0 comments)
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 sales. A pending sale is one in which a contract was signed, but not yet closed and it usually takes four to six weeks to close a contracted sale. Until housing data improves, the economy as a whole won't show significant signs of life. The numbers that came out today … (1 comments)
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 2008. Reasons for this trend include the significant price reductions we saw towards the end of last year, banks wanting to clear out inventory before the end of the year and buyers wanting to take advantage of low interest rates and low prices.
… (0 comments)
burbank real estate agent: For All Fans of Frank Lloyd Wright Architecture
- 10/30/08 06:32 PM
I recently started using stumbleupon.com. It's a very fun web site that literally let's you stumble onto web sites, videos based on your personal interests. For example, you can check photography, architecture etc. and you can explore web sites you never knew about. This is a video I just stumbled and it's amazing to watch. Enjoy! Fallingwater from Cristóbal Vila on Vimeo. … (8 comments)
burbank real estate agent: G-7 Meets.....What's Next?
- 10/10/08 06:07 PM
Group of Seven finance chiefs, vowed to do whatever was necessary to prevent the collapse of major banks. The policy makers included representatives from the U.S., Japan, Germany, U.K., France, Canada and Italy. The G-7 policy makers were under pressure to roll out new policies, but they came up short on details which will undoubtedly disappoint many investors. Global central banks have executed emergency interest-rate cuts and pumped more cash into financial markets and the Federal Reserve said it would buy commercial paper and start taking equity stakes in financial companies. For more on this story, see Bloomberg.com. Hopefully the aggressive … (3 comments)
burbank real estate agent: Economic Update
- 10/09/08 11:39 AM
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 history, among all of the central banks. Yesterday, the Fed, the European Central Bank, the Bank of England, Bank of Canada and Sweden's Riksbank reduced their benchmark rates by half a percentage point. The Bank of Japan and Switzerland also supported the action and China's central bank cut it's key … (1 comments)
burbank real estate agent: Economic Update!
- 10/01/08 06:45 AM
Senate is set to vote tonight on an amended bailout bill, which includes temporarily raising the FDIC deposit insurance to $250k and continuing some tax breaks for corporations and individuals. Apparently some in the House are working on an amended bill as well. No House vote is scheduled yet. The National ISM fell sharply from 49.9 to 43.5. Economists were forecasting 49.5. This is the lowest number since October 2001. ISM points to a recession as a reading below 50 suggests activity is receding and this is evident by sharp drops in new orders, production, and employment. Moreover, experts are … (0 comments)
burbank real estate agent: Economic Update!
- 10/01/08 06:35 AM
Senate is set to vote tonight on an amended bailout bill, which includes raising the FDIC deposit insurance to $250k and continuing some tax breaks for corporations and individuals. Apparently some in the House are working on an amended bill as well. No House vote is scheduled yet. The National ISM fell sharply from 49.9 to 43.5. Economists were forecasting 49.5. This is the lowest number since October 2001. ISM points to a recession as a reading below 50 suggests activity is receding and this is evident by sharp drops in new orders, production, and employment. Moreover, experts are saying … (0 comments)
burbank real estate agent: Economic Day In Review.....
- 09/22/08 10:17 AM
It's clear that the optimism from last Friday has quickly given way to a no confidence vote for Treasury Secretary Paulson's plan. Today's highlights:
The Dow was down by 372.75 points but the big story is gold rising by $40 and oil rising by $15 per barrel to close at $120. Morgan Stanley has received approval to become a bank holding company and talks between them and Wachovia are on hold. Goldman Sachs received approval to become a bank holding company. Giving Goldman and Morgan bank status basically allows them access to money through deposits, which would help manitain their … (5 comments)
burbank real estate agent: Are you ready for an earthquake?
- 09/21/08 08:08 AM
Living in Southern California for over 35 years has made me somewhat complacent about earthquakes, but I know first hand how devastating they can be and at the very least I keep a good supply of bottled water in the house, just in case. But I know I need to do more. Just as most people, I get busy with other projects, work, family and at the end of the day, feel unprepared for a catastrophic event. On November 13th, 10am, the the Great Southern California ShakeOut will take place. This drill, quite possibly the largest earthquake preparedness exercise in U.S. … (0 comments)
Housing and economic information and statistics for Burbank, North Hollywood, Hollywood Hills, Studio City , Valley Village, Toluca Lake and surrounding areas of the San Fernando Valley.
Burbank single family home values are seeing a slight uptrend from February 2012, according to the latest data. (see chart below) Average selling price has rebounded to$501,564, up roughly 2% from December 2011 prices, but down from the spike we saw in January 2012. Days on market were down from 89 to 77 days in the same period.
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