The FAA (Federal Aviation Administration) ruled this week against the Burbank-Glendale-Pasadena (Bob Hope Airport) Authority's application for a mandatory curfew from 10pm-6:59am.  The news released this week, for those of you, like me, who have been following this issue for many years is disheartening, but not surprising. To give you some background, Burbank, Los Angeles and Glendale residents have been advocating for this curfew since the 1970's.  There is currently a voluntary curfew in place, but residents would like to make it mandatory as they see a risk of increased air traffic in the future. On the good news front, this was the first application ever to make it through the entire FAA review process.  The problem is that if the FAA rules for this curfew, then other smaller airpor... 11/06/2009

Lupe Soto, Burbank Realtor, Short Sale Specialist serving Burbank, CA, San Fernando Valley, Palmdale & Greater Antelope Valley, Los Angeles County in Southern California.  Call for faster service (818)968-3718 or email Lupe@HomesWithLupe.com   The Southern California median price remains at 2002 levels and is 46% below its peak level of $505,000 set in 2007. Southern California's housing market took another small step toward recovery in September as the median sales price for homes in some areas rose above last year's levels -- the first such increases since the market crashed. The median price paid for all homes in six Southland counties in September -- $275,000 -- was unchanged from August and 11% below the same month last year, according to San Diego-based MDA DataQuick. But in Orang... 10/22/2009

Real Estate Market Report         Burbank, CA         August, 2009    Market Index -0.73 -  down 21 points. A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market. The market index is 0.73, dropping 21 points from 0.94 last month, compared to 0.37 a year ago.   New Listings -81 new listings, compared to 66 last month and 74 in 2008.    Pending Listings - 58 listings opened escrow, compared to 69 last month and 36 last year.    Pending Ratio - 0.72, compared to last month's  1.05.  Last year's was .49. Listing Inventory - 172 homes on the market, compared to 153 last month.  Last year - 260 listings.   Sold Listings - 68 listings sold during the month, compared to 75 last month and 59 in 2008.    Absorption Rate - ... 09/23/2009

Real Estate Market Report         Burbank, CA           July, 2009 Market Index -0.94, highest in TWO YEARS! A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market. The market index is 0.94, jumping 10 points from last month's 0.84.   New Listings - 66 new listings, compared to 42 last month and 64 in 2008.    Pending Listings - 69 listings opened escrow, compared to 62 last month and 47 last year.    Pending Ratio - 1.05, compared to last months high of 1.48.  Last year's was .64.    Listing Inventory - 153 homes on the market, compared to 159 last month, is the lowest in two years. Last year - 263 listings.   Sold Listings - 75 listings sold during the month, compared to 71 last month and 70 in 2008.    Absorpti... 08/10/2009

Real Estate Market Report         Burbank, CA           June, 2009    Market Index -0.84, highest in TWO YEARS! A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market. The market index is 0.84 - the highest one month gain in the last two years, jumping 20 points from last month's 0.64.   New Listings -42 new listings, compared to 55 last month and 66 in 2008.   Pending Listings - 62 listings opened escrow, compared to 63 last month and 58 last year.   Pending Ratio - 1.48, the highest pending ratio of the year!  Last year's was 0.88.   Listing Inventory - 159 homes on the market, compared to 189 last month, is the lowest in two years. Last year - 276 listings .   Sold Listings - 71 listings sold during the month, ... 07/08/2009

I got a call from Amber Fonzen, Event Coordinator for Hollywood Billiards, to photograph their facilities. I had heard of Hollywood Billiards from my husband's stories of studio wrap parties there. Other than that, I had no idea what to expect. I was very excited to see what I was up against. I was very pleasantly surprised to see such a cool building! There are some really great nooks and crannies around for parties or just a nice night out playing pool. This place has great ambiance and a great feel. All in all, I think I was there for 2 hours photographing still photos and virtual tours. Amber, the owner Jeff, and the staff were really great to work with and so helpful. Take a look at the virtual tour and the still photographs below. I'll definitely be back to Hollywood Billiards. I ... 07/06/2009

Lupe Soto, Burbank Realtor, Burbank Real Estate, Burbank Homes for Sale, San Fernnado Valley Real Estate (818)968-3718 For centuries farmers have known to plant their crops by the cycles of the Moon.  The Moon moves rapidly through the constellations of the zodiac, and aligns with the Sun (conjoins) once approximately every twenty-nine and a half days.  This is called the New Moon, and is that period of time where we cannot see the Moon in the night sky.  The New Moon is the time that promotes all forms of growth .  Anything initiated on those days will be met with rapid growth : a business venture, a relationship, a creative project. The New Moon is fruitful for strong new beginnings.  Each month we will have a New Moon and the opportunity to benefit from its power! NEW MOON IN CANCER ... 06/22/2009

Lupe Soto, Burbank & San Fernando Valley Realtor & FHA Loan consultant (818)276-6882 assisting first time buyers with low fico scores qualify for a mortgage loan.  Please call or email for a free consultation. Two of the most important factors affecting your score are your payment history and whether you've had any collections.The shorter your credit history, the greater the effect delinquent payments could have on your score. Missing a payment, even just one, could be bad news. It doesn't matter how much the payment is, or what it's for--anything from late cable-TV bills to outstanding parking tickets could adversely affect your rating. Johansson says missing just one payment can lower your credit score by as much as 100 points.　Similarly, if you ever have a late bill go into collectio... 06/22/2009

Real Estate Market Report         Burbank, CA             May, 2009   Market Index - 64, highest in TWO YEARS! A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.    The market index made the second highest one month  gain in the last two years, jumping 14 points to 0.64.  New Listings -55 new listings, compared to 65 last month and 74 in 2008. Pending Listings - 70 listings opened escrow, compared to 63 last month and 52 last year. Pending Ratio - 1.27, the highest pending ratio of the year!  Last year's was 0.70.  Listing Inventory - 189 homes on the market at the end of the month, compared to 234 last month , is the lowest inventory in two years.  We had 300 listings in 2008. Sold Listings - 51 listings sol... 06/15/2009

Here are the current stats for Burbank homes-active and pending sales:   Active - 109 Properties     Bedrooms Baths Square Feet List Price LP/SqFt DOM Min 1 0 480 $335,000 $0.00 0 Avg 3.1 2.25 1946 $763,406 $373.75 71 Max 6 7 6204 $3,500,000 $1,409.24 593     Pending Sale - 76 Properties   Bedrooms Baths Square Feet List Price LP/SqFt DOM Min 2 1 810 $217,800 $0.00 0 Avg 2.9 2.00 1624 $550,561 $321.50 31 Max 6 5 4400 $1,299,000 $695.33 217 Active and Pending - 185 Properties   Bedrooms Baths Square Feet List Price LP/SqFt DOM Min 1 0 480 $217,800 $0.00 0 Avg 3.0 2.25 1814 $675,967 $352.29 55 Max 6 7 6204 $3,500,000 $1,409.24 593 Information is Believed To Be Accurate But Not Guaranteed   05/26/2009

The Housing Market Index report came out yesterday and showed a 2 point increase over April's report. This follows on the heels of a 5 point jump in April's report. Yesterday this news was viewed as a very positive sign for the future direction of the housing market. Fast forward to today, the Housing Starts report came out and showed that starts fell dramatically going to lows not seen since 1959. Housing Starts fell 12.8% in April, 8.5% in March. The pain was felt most in the Northeast, Midwest and South as the West showed the best news with a 42.5% increase in starts. To put these numbers into context you need to realize that this(Housing Starts) statistic is a lagging indicator, meaning that it takes a while for any rebound to actually show up in these numbers. Having said that, inv... 05/19/2009

In a move that the NAR has been lobbying for, FHA today announced that it would begin allowing its lenders to let first time home buyers use the $8000 tax credit as a down payment on a home. HUD Secretary Shaun Donovan made the announcement during his address at the 2009 REALTORS(r) Mid-Year Legislative Meetings and Trade Expo being held in Washington, D.C.. “We all want to enable FHA consumers to access the tax credit funds when they close on their home loans so that the cash can be used as a downpayment. So FHA will permit trusted FHA-approved lenders and HUD-approved nonprofits, as well as state and local governmental entities to “monetize” the tax credit through short-term bridge loans. We think the policy is a real win for everyone, ensuring that borrowers can tap into the numerous... 05/12/2009

As you can see, not all areas are created equal when it comes to homes for sale and actual homes sold. While some of our local areas are mirroring the national statistics there are a few areas that are had healthy sales and price increases as compared to March 2008. Zip Code # Homes Sold Median Home Price % Chg From March 2008 Median Condo Price % Chg From March 2008 SFH Price Per Sq. Ft. 90068 16 $950,000 -13.40% $552,000 30.80% $458 91040 10 $265,000 -40.10% 210,000 -29.90% $264 91042 14 $355,000 -34.00% 208,000 n/a $273 91201 11 $533,000 -21.90% 323,000 n/a $349 91202 10 $733,000 18.10% 352,000 -20.00% $345 91207 3 $1,166,000 83.60% $372,000 6.70% $418 91208 7 $633,000 -12.80% n/a n/a $390 91501 5 $480,000 -33.80% $395,000 -24.40% $279 91502 1 $400,000 n/a $392,000 5.90% $267 91504 7... 04/25/2009

It has been a busy time, but the new Diary is here! I go out to take a look at 4 houses in order to see if they make the cut to be Gladiator properties, and offer some basic tips on what to look for along the way:  If you are interested in our "Turn-Key Zero Down & Cash Flow Program" feel free to call me anytime at: (317) 871-1000 We WILL answer our phones! :) Have a Profitable Day Everyone! Harrison Painter   Search. Invest. Prosper. 04/08/2009

Burbank, CA       March 2009   Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.    The market index re-bounded from 0.24 points.  to 0.30, the highest it has been since December.  New Listings - 85 new listings, compared to 54 last month and 69 in 2008. Pending Listings - 20 listings opened escrow, compared to 24 last month and 47 last year. Pending Ratio -0.24, a big drop from last month's 0.78, and compared to last year's 0.68. Listing Inventory - 263 homes on the market at the end of the month, compared to 290 last month, versus 324 in 2008. Sold Listings - 58 listings sold during the month, compared to 29 last month and 44 in 2008. Days On Market 65, versus 69 in 2008.   Average Sales Price... 04/08/2009

  Burbank Real Estate Report -March 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 $407,700 $512,100 $734,200 $374,500 15 $509,101 $478,647 38 59 Recap: Days on market are down to 59, from 63 in February. Average sale price is up almost 3% from February. Total homes sold rose to 38 as compared to 28 in February. Overall the trend is looking better as prices are stabilizing, more homes are selling and the time on market is decreasing. Information is believed to be accurate, but not guaranteed       04/01/2009

Thinking about greening your home? With so many resources, where do you start? One of my favorite websites is GoGreenTube.com.  It's a fantastic resource filled with green videos on that talk about sustainable ideas, tips, how to advice, resources, products and much more! It gets warm here in Burbank and the San Fernando Valley, especially during the summer. So I'm always looking for ideas on how to make my home more energy efficient. My latest find is this video which covers ideas on home energy retrofits:    Have fun greening your home!  04/01/2009

The Burbank real estate landscape has changed and there are many terms out there today that buyers and sellers did not have to worry about a few years back. If you have been thinking about purchasing a short sale property or a foreclosure property, here are some terms you should know: ASSIGNMENT OF DEED OF TRUST: A document that transfers the lender’s (beneficiary’s) interest in a deed of trust. BANKRUPTCY: A legal process that allows a debtor to discharge certain debts without paying the total amount due. BENEFICIARY: The lender or person to who the obligation is owed. BIDDING INSTRUCTIONS: An authorization form signed by the beneficiary authorizing the trustee to make the initial opening bid at a trustee’s sale and subsequent bids. DECLARATION OF DEFAULT: A document signed by the bene... 03/30/2009

Burbank, CA       February 2009   Market Index A market index of above 1.20 is a seller's market, between 0.80 to 1.20 is a balanced market, and below 0.80 is a buyer's market.    The market index continues to decline from 0.28 to 0.24 points.  In six months we are almost back to February 2008's level.      New Listings - 54 new listings, compared to 64 last month and 87 in 2008.   Pending Listings - 42 listings opened escrow, compared to 48 last month and 48 last year.   Pending Ratio -0.78, even with last month's 0.75, and compared to last year's 0.55. Listing Inventory - 290 homes on the market at the end of the month, compared to 300 last month, versus 346 in 2008.   Sold Listings - 29 listings sold during the month, compared to 35 last month and 29 in 2008.   Days On Market 63, ver... 03/18/2009

The Obama administration has given us some new details on its $275 billion plan to help stem the tide of foreclosures nationwide. It’s offering many incentives to investors, lenders etc. to entice them into modifying distressed mortgages to keep Americans in their homes. The steep fall in home prices is the main reason we’ve had a global financial meltdown, so the administration’s housing plan is vital to ending the deepening economic recession. The plan is called the “Making Home Affordable Program”, which the administration thinks can help up to 9 million homeowners. There are two primary goals of this plan: · First, it offers $200 billion to provide refinancing for homeowners who owe more than their homes are worth-also referred to as being “underwater” on their mortgages. To qualify... 03/10/2009