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Burbank, CA Real Estate News

By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Lots of news this week……. The real world has crept back into the picture with more dark news on credit. Credit Suisse reported a big writedown in subprime.  But the bigger news was on some analysts reports on Citigroup and Bank of America. The outlook for both of these giants were lowered significantly. The analysts said that they expect Citigroup will have to lopogo.pngwer their dividend rate and make other moves totaling $30 billion to shore up capital. Other rumors of interest included: Goldman Sachs imminent announcement of a $20 billion loss, Merrill Lynch imminent announcement of a $10 billion writedown in the 4th quarter on top of the $8.4 billion in the 3rd,Major UK bank announcement of severe losse. And any number of other imminent announcements of losses by other institutions ...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
If you are a buyer in Los Angeles, then you are in the driver's seat.  According to a report compiled by ZipRealty, Los Angeles is at the top of the list of cities with the biggest housing inventories.     Here is a list of the 10 U.S. cities with the highest housing inventories as of September 2007 and the percentage of homes currently listed on the market whose listing price has been reduced as of Sept. 30.          Top 10 Cities With Highest Housing Inventories            City                     # of Homes for Sale            % of homes with price reductions Los Angeles:                  111,269                                         45.9 Chicago:                          82,839                                          40.8  Miami:                             79,154                ...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
Fed Funds Rate lowered to 4.5% This rate cut along with the September rate cut and other recent moves by the Fed "should help forestall some of the adverse effects on the broader economy" from the disruption of financial markets and "promote moderage growth over time" the statement said.Banks dropping Prime Rates to 7.5% after Fed eases. Read more.....Complete Text of the Fed's Policy Statement     If you are searching for New Construction or Resale Homes, You can benefit greatly by using the services of LUPE SOTO, Burbank & SFV Valley Realtor, who specializes in representing Buyers ONLY.  Why is it important for a homebuyer to choose a Buyer's Agent? It's the difference between service and selling.  The Buyers Agent offers You service - The Listing Agent is selling their product.  Thin...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Here are some safety tips for those going trick or treating with their little ones tonight:Always choose costumes made out of FLAME RETARDANT materialWear reflective strips to increase visibilityUse a flashlightMake sure an adult inspects all treatsAll young children should be under the supervision of a responsible person at all times  Here are some Halloween Carnivals, Wednesday, October 31, 6:30-8:30pmFREE for Elementary School-age children:: McCambridge Recreation Center 818-238-5378Olive Recreation Center   818-238-5385Vickroy Park(co-sponsored by Burbank Optimist Club) 818-238-5300  Hope you have a safe and wonderful Halloween! 
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
 Lupe Soto, Realtor in Burbank & San Fernando Valley, Los Angeles, is  available to help YOU Buy a House with Good Feng Shui.Most homebuyers can usually find the objective requirements of house hunting, such as location, size, and price.  But, there are also intangible factors when searching for a new home, but most people don't know what to look for.  Every house has "feng shui flaws" and no house is perfect, however, you should be aware of what you are buying so that you are knowledgeable about what kinds of problems might be associated with the house.  The good news? most feng shui flaws can be corrected. I welcome your call or subscribe to receive free articles and tips by email.Today's Topic: BeamsTRUTH: Beams can be harmful to our health.The Chinese have studied the effects of see...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
  The following are some of the "common sense" environmental aspects of Feng Shui:  I hope you find this article helpful.  Lupe Soto, Burbank Realtor is available to help YOU Buy a House with Good Feng Shui. Please call or e-mail me/ There are many aspects to Feng Shui. One can use the analogy of comparing Feng Shui to an onion. As you peel the skin away, there are deeper and deeper layers to be discovered. One of the topmost layers is environmental Feng Shui. Many practitioners go only as deep as this level. Despite only hitting the surface of the science of Feng Shui, they do have some limited success. Anyone who takes the time can apply these environmental Feng Shui principles to their offices and living space. Although much is said about these factors, they bear repeating as questi...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Monday 29 3 & 6 Month Bill Auction Tuesday 30 ICSC-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. Consumer Confidence 4 Week Bill Auction FOMC (Federal Open Market Committee) Meeting Begins! Wednesday 31 MBA Purchase Applications-Measures Mortgage Lender applications, this is considered a leading indicator of single family home sales! ADP Employment Report-National Employment report based on private payrolls GDP The broadest measure of economic activity that takes all...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
We don't have a very heavy agenda this week, but there were items of interest both for last week's and the upcoming agenda. Items of Note: Last week the Burbank City Council approved theparking amendment for multifamily dwellings.This week the Council will look at the Rancho Amendment again, following up from the September 11th meeting. This time the text has been changed to make grocery stores a prohibited use in the Rancho commercial zones as opposed to just requiring a conditional use permit for the stores to operate. The Burbank City Council will be meeting Tuesday at 6pm in the Burbank City Hall Council Chambers. Remember that you can watch the City Council meetings live on Charter Communications Channel 6 or online at City of Burbank’s website.If you are interested in reading the ...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
Stocks rallied today with Microsoft's blowout earnings announcement, their fiscal first quarter earnings beat expectations by more than $1 billion and Countrywide's upbeat profit forecast for the future. Overall, it was another turbulent week with rumors swinging the market every which way. Rumors that the Fed will lower interest rates again when they meet next week, that AIG will have a very large write down etc. Items of note for the week: Merrill Lynch wrote down a whopping $7.9 billion of subprime and collateralized debt obligations, this was $3.4 billion dollars ABOVE their October 5th estimate! They reported a $2.24 billion dollar loss as compared to last year's $3.05 billion dollar profit. Needless to say, the subprime debacle continues to spread. New Homes Sales, which were exp...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
DID YOU KNOW THAT..... When you fall behind on payments, your chances of getting cooperation from the mortgage servicer are better if you follow below guidelines.  Mortgage companies say that the last thing they want to do is foreclose, because it costs money, so the key to keeping the house is to make it less expensive for the lender to work with you than to foreclose.Step-by-step plan for seeking help Respond to the mortgage company's phone calls and letters. Seek advice and negotiating help from a third party. Figure out if your probelm is short-term or long-term. Decide what you want and ask for it. Document income and expenses, keep all correspondence with the servicer. Be persistent in your quest to talk to the right people at the mortgage company. I have gathered a list of non-pr...
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By Ana Connell, Burbank Real Estate Agent
(G & C Properties)
This is the first post in a series that looks at the current and past real estate market cycles. The current cycle is starting to look somewhat like a 12 step program: Step 1-Awareness of the subprime problem in late 2006 Step 2-Credit markets froze in July of 2007, which forced the Federal Reserve to step in. Step 3-Losses start to hit at Citibank, Bank of America, Merrill Lynch and many others. Step 4-Yet to come, but could be worst of it, accentuated by job losses, lower retail sales and housing foreclosures. Step 5-12 Recovery? Steps 4 and 5-12 are based on some speculation, but I think these might be close to the mark, at least at a national level. Keep in mind that local real estate markets will always behave somewhat differently depending on their demographics, local economies, a...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
 Our beautiful Burbank, The City of Burbank also known as "The Media Capital of the World" has been selected as one of the top finalists for the "Most Business Friendly City in L.A. County" for a second year in a row.  What an honor. This honor is awarded by LAEDEC Los Angeles County Economic Development Corporation.  Burbank was selected by a blue ribbon panel of judges for the City's commitment to attracting and retaining businesses that provide quality jobs for its residents. Find your next DIVINE Home Condo Townhouse for sale right here, click below http://www.SOLDWithLupe.com Call Lupe for faster services, appointments, more info   Some of the reasons why Burbank has been selected are: Burbank has economic incentives that encourage Leadership in Energy and Environmental Design (LEE...
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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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