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Burbank, CA Real Estate News

By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
 Attention Burbank Homeowners.  Did you know the City of Burbank has deferred loans/grants available to help you complete home improvements? I am pleased to post some of the key features and income requirements to qualify for this program. If you are in need of making improvements such as new plumbing, roofing, heating, painting, rewiring, and other repairs to make your residence safe, healthier and more livable, please contact:CITY OF BURBANKREDEVELOPMENT AGENCY275 E. Olive AveBurbank, CA 91502818 238-5180Some of the KEY FEATURESare listed here, please contact them or go direct to obtain an application. They will also mail you the application.  their business hours are monday to friday from 8:30am to 5pm. The rehabilitation work must be performed by a qualified licensed contractor, who...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
 While certainly not the hardest hit area, Burbank has felt the pain related to the subprime situation.  Increasingly buyers are finding it more difficult to buy a home, especially if the price is above the conforming limit of $417,000 and if they have any issues related to their credit history.  For a detailed look at housing statistics in Burbank, please visit the  Burbank Housing Report.....
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
  Congratulations to City of Burbank for winning a clean air award from the South Coast Air Quality Management District(AQMD). Thanks to Burbank’s environmentally friendly policies they joined with other Southern California cities to form the Five Cities Hydrogen Program in 2006.  The other cities that participate in the program are Ontario, Riverside, Santa Ana and Santa Monica.  Read More..... 
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
 As you may have heard on the news or experienced first hand Southern California is in the midst of a fire season nightmare.  These fires have been incredibly tragic for the many people who have been evacuated or lost their homes and belongings.One of the issues that comes up with these fires is the air quality for impacted and surrounding areas. If you have young children, elderly, animals etc. and are concerned about the air quality in your area here are some great resources to check out: US EPA Air Now!-Air Quality Maps EPA's Air Quality Index Guide Weather Channel Hourly Ozone Levels American Lung Association-How to Protect Yourself  Hope this lists helps 
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Burbank City Council meets monthly at 6pm in the Council Chambers at Burbank City Hall.  There are a couple of interesting items on the agenda tonight that are noteworthy.    Items of Note:Parking Requirement ChangesThe council will consider changing the amount of parking spaces required for multifamily residential projects.   This item is especially interesting when you look at the amount of people that park around multifamily projects.  The current Municipal Code requires 1 guest parking space for every 5 family residential units......yes, you read that correctly!Read More......
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
 A recent seminar informed business owners about the needs of the disabled and how to comply with regulations before opening a business.  Many Business owners are unaware of Americans with Disabilities Act regulations.  In order to avoid lawsuits resulting from noncomplliance with this act all owners must with the following:Maintaning handicap accessible restrooms.Updating signs at every parking lot entrancesWidening aisles to access wheelchairs.Each violation carries a $4,000 fine.read more   Lupe Soto, Burbank Realtor welcomes your questions, comments.  Send your e-mail to:  sotolupe@charter.net 
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
                                             Monday 223 & 6 Month Bill Auction Tuesday 23ICSC-USB Store Sales  Tracks comparable weekly sales from major retail chains and represents 10% of total retail sales.  Is considered to be one of the most timely indicators of consumer spending. Redbook a timely indicator of consumer spending and also represents about 10% of total retail sales.  This measure tracks weekly sales from discounters, chain and department stores.4 Week Bill & 5 Year Tips Auction  Wednesday 24Existing Home Sales-consensus 5.30M..... Last month sales fell 4.3% and the median home price dropped 1.8% and housing supply for August was at 10 months.    MBA Purchase Applications measures applications at mortgage lenders.  This is considered a leading indicator for single famil...
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By Joe Zapata, Your Burbank Real Estate Expert
(Keller Williams Realty Media World)
As many people know, the City of Burbank has long provided its residents and businesses with power from our own private power facility.  What many people do not know is that the city has also been committed to progressing into renewable energy(Green energy) for them as well.Over the course of the past 6 years the city has built several new facilities to help to achieve their goals.  these are to include:A new power plant which uses about 25% less fuel than our older power plant while producing 95% less nitrogen oxide emissions(a key ingredient in smog).Landfill Generators which draw power from a renewable energy source located at the city landfill.  Burbank hit the books with this as the WORLDS FIRST commercial Capstone micro-turbine installation running on landfill gas.  This is produc...
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By Hayden Gerson
(HPM Financial LLC)
In the last year over 100 mortgage lenders have gone out of business due to the "mortgage meltdown" as most of you might now it is getting much more difficult to qualify for mortgages in Burbank. The reason it is difficult to qualify for your Burbank mortgage is because guidelines have changed drastically. Even reverse mortgages in Burbank are getting harder to qualify for, leaving many looking for a honest mortgage company in Burbank.Since many mortgage brokers in Burbank are going out of business, and others are not able to get you qualified, you need to call a reputable company to help you with your home mortgage in Burbank. We here at America One Mortgage Group are a national company headquartered out of Southern California. We have offices in many states and fund millions of dollar...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
About Magnolia Park Magnolia Park is an historic district in the City of Burbank that blends an established residential community of 3,000 homes with more than 500 neighborhood businesses on Magnolia Boulevard between Buena Vista and Pass Avenue, and Hollywood Way between Clark and Chandler.  Magnolia Park Website HOLIDAY IN THE PARK CELEBRATION AND OPEN HOUSE Stroll and sample the delights of the Magnolia Park neighborhood.  Live music, entertainment, photos with Santa, refreshments and lots of fun for kids and the entire family. All are invited to wander the boulevard and drop by open houses at dozens of charming shops and eateries, while musicians and choirs serenade the crowds and add a festive touch to this longtime, festive and wonderful Burbank tradition.  "Holiday in the Park Ce...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
  About Magnolia Park Magnolia Park is an historic district in the City of Burbank that blends an established residential community of 3,000 homes with more than 500 neighborhood businesses on Magnolia Boulevard between Buena Vista and Pass Avenue, and Hollywood Way between Clark and Chandler.  Magnolia Park Website HOLIDAY IN THE PARK CELEBRATION AND OPEN HOUSE Stroll and sample the delights of the Magnolia Park neighborhood.  Live music, entertainment, photos with Santa, refreshments and lots of fun for kids and the entire family. All are invited to wander the boulevard and drop by open houses at dozens of charming shops and eateries, while musicians and choirs serenade the crowds and add a festive touch to this longtime, festive and wonderful Burbank tradition.  "Holiday in the Park ...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
     Wow, what an end to this week!  Dow was down 369.1 points, -2.7%, today for a weekly loss of 4.1%!  Items of note: National Association of Home Builders Index came in at 18, lowest level since the index was started in 1985!  Keep in mind that a reading of 50 or above is considered bullish.Housing Starts came in at lowest level in 14 years and down 50% from January 2006 peak.Oil reaches $90 per barrelHome Sales in California were down 49%, year to yearCitigroup, Bank of America and others reporting lower earnings due to subprime mess Now for the good news…… Read more!
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By Joe Zapata, Your Burbank Real Estate Expert
(Keller Williams Realty Media World)
While the City of Burbank does not experience a large amount of graffiti in the city.  As is true with any area of a metropolitan area some things are bound to happen.  In order to cope with the issue and to keep our city clean and as graffiti free as possible the City of Burbank several years ago instituted a Graffiti Removal program.  This is a free service to its residence and the response time is usually within 3 business days from the report of incident.The guidlines are very simple:To remove graffiti from publicly visible areas of your property, please call (818) 238-3806.  There is no charge for Burbank's graffiti removal service.  Before graffiti can be removed, a signed "Right to Enter" release must be on file with the Public Works Department.  Please call (818) 238-3800 to ver...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Yes, I finally took some pictures of our City Hall!  As you can see from this shot, it has some great architectural features!Burbank City Council will NOT be meeting today, but meetings will resume next week, Tuesday, October 23, at 6pm.One thing I wanted to point out is that if you are busy and are not able to watch the meetings live on Charter Cable, channel 6, or if you have ATT's U-Verse, you can go online and view the meetings on the internet.  In addition to the live feed, you will also be able to view past meetings. Hope you have a great week! Please visit me at anaconnell.com!  
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
 This three block cultural event happens outdoors on San Fernando Blvd between Magnolia & Orange Grove from 10:00am to 5:00pm and is now one of the biggest ART festivals in the region.Art lovers can stroll Downtown Burbank and meet more than 100 award-winning, nationally recognized artists on-hand to sell original works and demonstrate their craft. Customers can purchase on commission unique works of art, enjoy live musical entertainment, watch pottery wheel demonstrations and see artists recreate masterpieces on city streets.  If you are an artist wishing to participate, please apply via the website at West Coast Artists      For more information on the ARTS Festival, the public is asked to please call 818-238-5180, or visit Downtown-Burbank.orgFor more informatin on Burbank Arts in Ed...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
 Monday 15Empire State Manufacturing Survey-monthly survey of manufacturers in New York State.Consensus 12.5 3 Month & 6 Month Bill Auction Tuesday 16Industrial Production Consensus.1%Housing Market Index-Produced by the National Association of Home Builders.  This is a survey which is filled out by the members of this organization and it gives their opinion of the general state of the housing market and the economy. State Street Investor Confidence Index Measures actual levels of risk in investor portfolio. Treasury Int'l Capital-measures foreign demand for our debt and assets by tracking flows of financial instruments into and out of the U.S.  ICSC-USB Store Sales  Tracks comparable weekly sales from major retail chains and represents 10% of total retail sales.  Is considered to be o...
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By Joe Zapata, Your Burbank Real Estate Expert
(Keller Williams Realty Media World)
The City of Burbank has many great things to offer people of all ages.  One of the things that the city prides itself on is a constantly improving and reinventing itself with newer updated facilities for residents.One such place is the Burbank Tennis Center.  Located at 1515 N. Glenoaks Blvd. Burbank, CA 91504 the center offers something for everyone.This includes a Fitness Center, Pro Shop, a Thai Restaurant and more importantly 12 Tennis Court to include a mini tournament stadium(Pictured above). The city provides public classes for kids ages 3-18 at a minimal cost.  For information on these classes please visit The Burbank Tennis Center website.As the court is located at McCambridge park there are plenty of other things to do with the family while there to include Playgrounds, Basket...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
 The big news was the release of Retail Sales, which increased a larger than expected .6%, best explained by the seasonal back to school rush.  The bond market snoozed through the news but the stock market reacted positively.Items of note: Consumer Confidence fell to 82, lowest reading in a year, keep in mind this survey consists of 300 consumers, so not sure how representative it is of the overall segment. Bond Market closed the week with lower prices, higher yields:        2 year  yield     4.20%        5 year yield      4.41%        10 year yield    4.68% Producer Price Index rose by 1.1%, higher than expected, but core PPI only rose by .1% vs. the .2% number expected. I read Kaye Thomas' Manhattan Beach, Market Snapshot post and want to reference the Wall Street Journal article she...
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By Joe Zapata, Your Burbank Real Estate Expert
(Keller Williams Realty Media World)
It was a sad day in Burbank when NBC announced today that after broadcasting out of its Burbank Studios since 1952 that it will be moving to a new facility in Universal City.Having grown up in the city I also grew up with the NBC Peacock staring at me almost everyday.  Allthough Universal City is only a few minutes away it will still not be the same."The Tonight Show," local news operations and "Access Hollywood," along with other programming, will be relocated to Universal City, which includes Universal Studios, its theme park and CityWalk.   " 'The Tonight Show' put us on the map," Burbank Mayor Marsha Ramos said. "Without that line from Johnny Carson about 'beautiful downtown Burbank,' most people wouldn't even know that we exist. When 'The Tonight Show' leaves, there will be a porti...
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By Brian Brady, 858-699-4590
(Matthews Capital Markets)
I spoke with Burbank real estate specialist, Ana Connell, today.  Ana's "other life" paralleled mine; she was a manager for a securities brokerage firm before she started her career in real estate brokerage.  We chuckled as we talked about the principles of technical analysis and how it might apply to residential real estate .  I want to share the product of our discussion with you, the Southern California property buyer.I think that the real test of proper pricing for Southern California real estate is revealed when we analyze properties like a long-term investor may.  We are getting close to parity here.  If a property can create net positive cash flow, with a 20% down payment, and a a current market rate, interest-only loan, the game's over.  Long-term investors will flock to that pu...
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