Burbank August Closed Sales - 58 Properties Found   Bedrooms Baths Square Feet List Price LP/SqFt Sale Price SP/SqFt SP/LP SP/OLP DOM Min 1 1 655 $289,900 $254.36 $280,000 $252.53 89.00% 69.00% 0 Avg 2.9 2.25 1584 $575,440 $370.33 $558,743 $362.22 97.00% 94.00% 59 Max 4 5 2547 $1,349,000 $561.23 $1,200,000 $561.50 145.00% 145.00% 287 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, you have more short sales and REO or bank owned properties on the market. • For comparable properties the bank owned properties tend to be priced lower than the short sales or regular sale... 09/10/2008

Yesterday I wrote a post outlining some details of the Federal Housing Finance Agency's takeover of Fannie Mae and Freddie Mac. Today I want to expand on that post and bring up some other discussion points.  First, let's be clear that the failure of these two entities represents the #1 and #2 largest financial institution failures in history.  As such we should be aware that the impact will not be minimal, in fact I think we'll be feeling the pain for years.  While the markets reacted favorably to the takeover, the exuberance will be short lived as the reality of the state of the mortgage industry sets in. Let's start with the portfolio limits that will be imposed on these companies.  They shall not exceed $850 billion as of Dec. 31, 2009, and shall decline by 10 percent per year until ... 09/08/2008

Sunday it was announced that the government, through the Federal Housing Finance Agency, was making the landmark, although not altogether unanticipated, decision to take over the Federal National Mortgage Association (FNMA-Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). After suffering from the biggest number of mortgage defaults in 30 years, the two giants are in serious danger of failing and delivering a major blow on the already stressed housing market . In a nutshell, they're worried the mortgage market will fall apart. The end goal is to restore confidence, mainly abroad and at home, for those financial institutions that hold these companies' securities. Fannie Mae and Freddie Mac together own or guarantee about $12 trillion in mortgages or about half of t... 09/07/2008

(818)276-6882 LUPE SOTO Realtor YOUR CONDO / TOWNHOUSE SPECIALIST in Burbank CA, San Fernando Valley, Santa Clarita Valley , Antelope Valley including Palmdale & Lancaster in Los Angeles County, California.   For condo and townhouse styles and price ranges including newly built units 2000-2014 year built,  newew construction 1980 to 2000 year built, bank owned, lender owned, short sales, regular sale, HUD properties, fixer uppers, condo investment.  Please contact Lupe to chat about your real estate goals.  thank you for your preference.  EN ESPANOL: condos & townhomes en venta, bueno bonito y barato en Los Angeles , California.   Need a lender referral?  Low down? First Time Buyers Program FHA VA CONVENTIONAL, please call Lupe (818)276-6882  (hablo espanol).   BURBANK TOWNHOUSE FOR SAL... 08/28/2008

  July Closed Sale - 124 Properties Found   Bedrooms Baths Square Feet List Price LP/SqFt Sale Price SP/SqFt SP/LP SP/OLP DOM Min 1 1 655 $279,000 $179.96 $260,000 $174.00 81.00% 69.00% 0 Avg 2.7 2.25 1514 $542,060 $366.82 $528,557 $358.51 97.00% 93.00% 71 Max 5 5 3089 $1,349,000 $581.25 $1,200,000 $581.25 145.00% 145.00% 301     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 year, you have many more short sales and REO or bank owned properties on the market. For comparable properties the bank owned properties tend to be priced lower than the short sales or regular sales reflec... 08/25/2008

I've decided to reintroduce my campaign of bringing what my team and I feel are great bargains in the Glendale, Burbank, and some of the surrounding areas.  I hope this is helpful. If you should need any assistance with your real estate needs please feel free to call me or email me. 08/20/2008

BURBANK, TOLUCA LAKE, BANK OWNED, REO, SHORT SALE - Make an offer today.   TO PREVIEW LIST OF REO'S BANK OWNED PROPERTIES IN TOLUCA LAKE click below www.HomesWithLupe.com     ABOUT BURBANK CA: Billing itself as the "Media Capital of the World" Burbank is a entertainment-oriented city that prides itself on its quality of life, combining 21st-century technology with a small-town feel. The city is named for Dr. David Burbank, a New Hamnpshire dentist who bought two large ranchos in the area in 1867. A half century later, the city became home of the budding aviation and entertainment industries. Lockheed Aircraft Co. purchased a piece of Burbank farmland in the mid-1920s, and Amelia Earhart and Howard Hughes were among the aviation pioneers who used its airfield. The motion-picture business... 08/07/2008

VALLEY VILLAGE HOME SALES REPORT Beginning Date: 7/1/08 Board Number: All Ending Date: 7/31/08 City: Valley Village Area: All Price Range: $0 - ALL Single Family Sales - Residential   Other Statistics Price Class Bedrooms     2 OR Less 3 4 Or More   Condo Sold Residential Active Condo Active $0 - $99,999 0 0 0   0 0 0 $100,000 - $149,999 0 0 0   0 0 0 $150,000 - $199,999 0 0 0   0 0 1 $200,000 - $249,999 0 0 0   0 0 1 $250,000 - $299,999 0 0 0   1 0 5 $300,000 - $324,999 0 0 0   1 0 2 $325,000 - $349,999 0 0 0   0 0 2 $350,000 - $374,999 0 1 0   0 0 1 $375,000 - $399,999 0 0 0   1 0 4 $400,000 - $424,999 0 0 0   0 0 1 $425,000 - $449,999 0 0 0   0 1 4 $450,000 - $474,999 0 0 0   0 1 2 $475,000 - $499,999 1 1 0   0 3 4 $500,000 - $549,999 0 0 0   0 3 2 $550,000 - $599,999 0 0 0   0 9 4 ... 08/02/2008

BURBANK HOME SALES REPORT Beginning Date: 7/1/08 Board Number: All Ending Date: 7/31/08 City:Burbank Area: All Price Range: $0 - ALL Single Family Sales - Residential Other Statistics Price Class Bedrooms 2 OR Less 3 4 Or More Condo Sold Residential Active Condo Active $0 - $99,999 0 0 0 0 0 0 $100,000 - $149,999 0 0 0 0 0 0 $150,000 - $199,999 0 0 0 0 0 1 $200,000 - $249,999 0 0 0 0 0 0 $250,000 - $299,999 1 0 0 1 0 6 $300,000 - $324,999 0 0 0 3 1 2 $325,000 - $349,999 1 0 0 0 0 5 $350,000 - $374,999 1 0 0 3 2 5 $375,000 - $399,999 0 1 0 4 4 11 $400,000 - $424,999 0 0 0 0 3 4 $425,000 - $449,999 0 1 1 8 10 9 $450,000 - $474,999 1 1 0 4 5 7 $475,000 - $499,999 3 3 0 3 18 9 $500,000 - $549,999 2 1 1 5 22 3 $550,000 - $599,999 3 2 1 1 18 9 $600,000 - $649,999 0 5 1 0 15 8 $650,000 - $699... 08/02/2008

Of Note: Consumer Confidence-came in at 51.9 Higher than last month, but still showing lots of pessimism and reduced spending plans. MBA Purchase Applications came in at 309.5 indicating continued weakness in the housing market. Jobless Claims , came in higher at 448k. GDP-final was revised up to 1% basically indicating that we’ve dodged a recession……hope they are right.   Bonds…2 year 2.49%, 5 yr. 3.21% and the 10 yr. 3.93%. Crude oil closed at $125.10 per barrel. The overall theme for last week is that while you can argue the exact definition of what a recession is....it's clear the economy is stalled. Non-farm payrolls declined by 51K jobs and the unemployment rate moved up to 5.7%. While the non-farm payroll number was better than expected, General Motors reported a huge loss, that... 08/02/2008

      Burbank has some great resources for Burbank residents aimed at being proactive and keeping our neighborhood safe.   Neighborhood Watch-Burbank Police Department has representatives that will sit down with you and explain how to set up a neighborhood watch so you can be proactive and help prevent gang activity, loitering, break-ins and auto thefts.  For more information call the Community Resource Office at 818-238-3235.   Illegal Parking- Burbank Police Department will issue tickets, just call 818-238-3000.   Illegal Dumping-No one likes trash and junk sitting on their street!  Burbank has a weekly bulky item pick-up service that will remove bulky items.  Call 818-238-3805 two business days before your trash pick-up and give your name, address and location of the items.    Graff... 07/29/2008

          Burbank has a Zero Waste Plan that will aim to reduce waste in a significant way, by the year 2040.  To start, it calls for the gradual reduction and elimination of disaposable plastic bags and styrofoam.. The impact, at this point, is primarily on businesses that use styrofoam or plastic bags and at this point they will not be penalized.  This plan is intended to be a guide and will encourage both businesses and residents to conserve and do their part. The City has started to do their part by using recycled paper and printing reports on both sides of the page. In the future they will look at new rules, such as how garbage rates are structured, to provide incentives for residents to waste less and recycle more. The Public Works Department will present a detailed plan at a fut... 07/29/2008

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 help mortgage originators who sell the loans to Fannie Mae and Freddie Mac.   The Financial sector dragged the markets down and what's being termed as a "bear market rally" stumbled in a big way.  Continued concern over earnings, financial sector mortgage writedowns and the economy are weighing heaviy on the stock market.   The warning from the International Monetary Fund that bad credit conditions will continue to be a strain on the economy certainly did not help.  I know we all want to declare th... 07/28/2008

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 dollars from the State of California. You must bring in proof of income, ie...federal and state tax return for 2007, earnings statements, proof of age etc. For more details, call (818) 238-5353. 07/25/2008

  Magnolia Park Vintage Car Show and Festival August 23, 3pm-9pm   The Magnolia Park Partnership and residents will be hosting a 4 block street fair and car show!  Between Hollywood Way and California. Admission is free and it promises to be a fun event!     I have lived in Magnolia Park for 15 years and this event is one of the many reasons I love being a Burbank resident!  Come out and join the fun. 07/25/2008

        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 effect October 1, 2009.  The intent is to protect against deceptive practices and establish a new set of advertising rules for mortgage lenders. California enacted a new Foreclosure Reform Law last week to stem the tide of high foreclosure rates.  The new law requires mortgage lenders to contact homeowners in order to go over options that would avoid foreclosure.  One important provision is that owners acquiring foreclosed properties would be required to maintain the exterior of vacant properties.  It... 07/25/2008

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 be showing the master plan for future bike paths in Burbank.   Sponsored by the Burbank Police Department, Friends of the Chandler Bikeway and Burbank Park and Recreation and Community Services. 07/24/2008

Lupe Soto, Burbank Realtor serving Burbank Real Estate & all areas in SFV San Fernando Valley Real Estate, SCV Santa Clarita Valley Real Estate & AV Antelope Valley Real Estate  HABLO ESPANOL www.CasasConLupeSoto.com NEW CONDOS, NEW TOWNHOUSES, NEW HOUSES FOR SALE, click here BURBANK VIDEO BLOG - HOMES FOR SALE, click here BURBANK VIDEO BLOG - CONDOS TOWNHOUSES FOR SALE, click here   FROM REO'S CONDOS/TOWNHOUES TO BANK OWNED NEWER SINGLE FAMILY RESIDENCES IN SAN FERNANDO VALLEY.  YOUR DREAM IS JUST A CALL AWAY, CALL FOR A PRIVATE SHOWING     ABOUT LUPE Greetings from Lupe Soto, Inspirational Realtor Three priceless words are behind it all: "Inspired by Inspiration" When you search for that perfect home, affordable condo or extraordinary investment in Los Angeles, what inspires you? Lupe... 07/24/2008

  There's always the good news and the bad news.......I'll start off and end with the good stuff, there's not much today. On a positive note crude oil prices have been much lower this past week as the bubble seemingly has burst on the speculation that was driving oil prices up.   Crude oil finished the day at $125.50, up $1.05.........but, quite a bit lower than the $145+ prices we were seeing in the last two weeks.  Hand in hand with that the dollar continues to strenthen. Stocks however, had a dismal performance....down 283 points to finish the day at 11,349.  The decline was led by financial institutions, which posted their worst drop in 8 years and home builders.  The amount of writedowns due to the mortgage mess continues and based on what analysts are saying, we're not out of the... 07/24/2008

    City New Listings Avg Listing Price Pending Avg Listing Price Sold Avg Sld Price % SP/LP DOM Burbank 91 $676,581 49 $525,641 70 $576,534 96.77% 57 This information in taken from the SoCal MLS. Housing starts in California in June rose 9.2%, but single family home construction declined 3.5% in the same period.   For more information, visit, Burbank Real Estate Report! 07/23/2008