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Burbank, CA Real Estate News

By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Wednesday, May 23rdMortgage Applications for the week ended May 18th are released. Thursday, May 24th  New home sales for April-economists consensus is that it increased slightly to 860,000 annual rate.  This report talks about new private homes and usually lags changing mortgage rates.  New home sales tend to be stronger early in the business cycle as there is more demand.  This report tends to be more volatile and subject to large revisions and as far as I’m concerned making it somewhat unreliable.  Friday, May 25th  Existing home sales for April-Economists are predicting a drop to 6.10 million from 6.12 million homes.  This is a more reliable indicator of housing activity.  These numbers tend to be more dependent on mortgage rates.  Two worthy components of this report include the m...
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By Judy Graff
(Aaroe + Williamson)
There were 28 new properties on the Burbank Realtor caravan today.  Two years ago today, there were eight.  However, here's the good news for sellers: many properties are once again selling in days, rather than weeks.  Most of the quick-to-sell properties are in the middle range, of course.
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Folks there are some great pieces of legislation that have been introduced that would provide much needed relief and oversight for the real estate industry and consumer. First we have S.1394, the Mortgage Cancellation Tax Relief Act.   This piece of legislation was introduced this week by Senators Debbie Stabenow (D-Mich.) and George Voinovich (R-Ohio).   The goal is to limit or alleviate the tax burden when someone has experienced a true economic loss.  This is a huge issue for many families, especially with today's market conditions and the sub-prime loan mess.  To get more information, please read, NAR-Do Away with the Phantom Tax. We also have a bill, Community Choice in Real Estate Act (H.R. 111) to preserve a separation of banking and real estate, by keeping banks out of real esta...
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By Judy Graff
(Aaroe + Williamson)
I'll be at Burbank's planning board tonight (May 14) at 6:00 pm. A 20-unit apartment complex is planned for Harvard Road, right behind my house, and I have filed an appeal against it. How many more people can we shoehorn into this neighborhood?! I know this is not politically correct for a Realtor to be opposing a developer, and I'll probably lose, but I want to have my say. I think this will be televised on Charter channel 6.
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
  Believe it or not there are properties, single family detached homes, to be found for under $500k in Burbank!   These charming houses make great starter homes and provide a more affordable alternative if you are a first time home buyer.  Burbank is a vibrant community that boasts good schools, beautiful neighborhoods and plenty of activities.   If you are looking for a home in the Burbank area, give me a call and I can help you find your starter home!   For your Burbank Real Estate needs please visit my website at anaconnell.com!
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By Keith Sorem
(Keller Williams Realty)
The public is invited to the Burbank Fire Headquarters at Orange Grove Avenue and Third Street from 9 am to 2 pm.   Live demonstrations (rappelling, vehicle extrication); visit with Lil' Squirt!  Get your picture taken with a Special Guest!  Burbank Water and Power will also be holding their Water Festival.  The Burbank Community YMCA will offer a Pancake Breakfast on the site from 7:30 -10:30 amSpecial guests include the Warner Brothers Fire Department, the Walt Disney Fire Department, the Bob Hope Airport Fire Department featuring Airport Crash Units.  The Burbank Water and Power Dunk Tank will be there too!Keith@BeautifulBurbankHomes.com
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By Keith Sorem
(Keller Williams Realty)
May 1st the Daily News business headline reads "Valley Median Home Price Dips".  Guess how much the median price "dipped"?   One thousand dollars.  Can we say, "Wow"?   No, we can't.Let's look at the city of Burbank's results, comparing March to April.  What picture will the numbers paint?I measure the overall market with a Market Index, which is composed of key market variables we can measure.  If the Market Index is greater than 1.20, then it's a seller's market.  If it's between 1.20 and 0.80, it's a balanced market.  Below 0.80, it's a buyer's market.  Burbank's Market Index at the end of March was 0.53.  At the end of April it was 0.38, a fifteen point drop, or 28%.  If the stock market dropped 28% would you be worried?Let's look at what makes up the Market Index and see if we can ...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
For those Burbank and Toluca Lake residents that have not been checking in with Caltrans or the Transportation Department at City of Burbank there’s a 134 Freeway project that may impact your commute.  According to Caltrans, the State Route 134 Ramp Project will construct a new westbound Onramp to Route 134 (Ventura Freeway) at Hollywood Way. This new ramp is needed to reduce congestion at the busy Hollywood Way / Alameda Avenue intersection and improve access to the 134 Freeway from the Media District. The project will begin April 9, 2007 and will last three years. During the construction period, be on the lookout for lane closures and detours for portions of Hollywood Way, Alameda Avenue, and Pass Avenue.   Plan accordingly, as your morning commute will probably be affected during th...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
If you are looking for a slice of suburbia within the confines of a big city, then Magnolia Park might be right for you! Magnolia Park is a quaint and beautiful area of Burbank California.  Blocks from the Media Center District, the community is made up of over 3000 homes and hundreds of businesses.  This neighborhood is located between Hollywood Way, Buena Vista Street, Clark Ave. and Chandler Blvd.  I have spoken to residents, however, that believe the true boundaries go as far east as Pass Ave. and as far south as Verdugo Ave.  However you define the boundaries you are looking at tree lined streets and small town charm.  The area offers homes of all types and is a great place to raise kids.  It is home to a diverse community and literally minutes from hip and trendy restaurants of H...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Burbank residents and future homeowners... through June 22, 2007, the Burbank Unified School District is enrolling new students for all K-12 grade levels who reside within the Burbank Unified School District boundaries for the 2007-08 school year. Parents/guardians of secondary level students, grades 6-12, should contact their school of residence to verify dates during the summer when those sites will be open for registration. Enrollment forms are available at all school offices during school hours, and they must be completed and returned immediately to the school office because students will be assigned to classes and school sites on a space availability basis. Detailed Procedures available ... http://www.burbank.com/wire/00467.shtml  For more information on my real estate services, pl...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
I've been fortunate enough to call Burbank California home for 14 years.  I first moved to Burbank to take advantage of their public schools for my child.  I quickly realized it was a very special city filled with small town charm.  Let me just say that this community has changed much in some ways and little in others.  Johnny Carson would periodically refer to our city as "Beautiful Downtown Burbank" on the Tonight Show, Starring Johnny Carson.  This was funny as there was not much of a downtown at that time and I'm not sure beautiful is an adjective I would have chosen to describe the area. Growth is inevitable and the powers that be have managed to incorporate a pretty good balance between projects that have an economic benefit and those that enhance the overall beauty and charm of l...
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By Eddy Martinez
(Nationwide Funding Group)
The landlord must store any belongings left behind by the tenant after the eviction for exactly 30 days, charging the tenant a reasonable storage fee. An example of a unreasonable storage fee would be a full months rent for a week or less for the storage of their belongings. After that time, a public sale may be held and the proceeds of the sale used by the owner to pay for the costs of  the storage and the sale. Any balance remaining after payment of these costs must be returned to the tenant.  Termination of a Lease :Expiration of the TermsMutual AgreementViolations of Terms and ConditionsDestrcution of the PremisesEviction Eddy MartinezBest Rate Funding - Direct Lender - Wholesale RatesSenior Loan ConsultantDirect Line: 1-888-702-2225 x. 115E- Fax :1-310-943-6551bestrate Funding"A bu...
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