Burbank Real Estate Blog

      Image by Getty Images via Daylife    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...

1) the loan limits on mortgages will be raised to $727,000  in high cost areas 2) the tax credit will be raised to $8,000 with NO payback....this is huge! 3) interest rates shoud react favorably to the package(see below) 4)  the bill has over $50 billion in it for foreclosure mitigation, with Tre...

  Monthly Activity Report Burbank-January 2009     SFR Avg Sale Price-2 bed SFR Avg Sale Price-3 bed SFR Avg Sale Price-4 or more bed Condos Avg Sale Price Condos Units Sold Total Avg List Price Total Avg Sale Price Total Units Sold Avg DOM $529,800 $605,200 $768,300 $387,000 8 $451,783 $508,508 ...

  Ever wonder what the difference is between a foreclosure and an REO or real estate owned property? A foreclosure is a legal process in which the owner's right to a property is terminated.  It usually involves a forced sale of the property by a public auction to repay whatever debt is owed on th...

Image via Wikipedia  Housing Tracker is predicting a trend of -23.9% for Los Angeles area home prices and Homepredictor.com is prognosticating a 21.7% drop in prices for the Los Angeles area. Many economists are predicting that housing will not rebound in 2009. But how do you know what your area ...

  Economic Recap:   Pending home sales for September dropped 4.6%, worse than expected. Showing extremely weak numbers, total domestic light vehicle sales came in at 7.7 million annual unit sales. This the lowest since the recessionary times in the early 80s. The car rate of 3.9 million is the lo...

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 stumble...

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 ...

  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 histo...

Burbank Closed Sales for September 2008     Bedrooms Baths Square Feet List Price LP/SqFt Sale Price SP/SqFt DOM Min 0 1 465 $199,900 $270.57 $185,000 $268.03 1 Avg 2.7 2.25 1524 $560,785 $375.35 $540,557 $363.34 80 Max 5 5 3951 $1,490,000 $513.65 $1,400,000 $547.46 345     Month to month average...