Burbank-CA-Real-Estate-Market-Report prepared by Lupe Soto, Realtor, November 7, 2007.Wall Street ended sharply lower today on financial woes, weak dollar.  DOW lost 360 points (fifth-largest drop so far this year) closing at 13,300.02, -360.92 or -2.64%. One of the main reasons why US Stocks tumbled today: Bearish outlook from WASHINGTON MUTUAL due to inflated appraisals. Speculation that MORGAN STANLEY would post large sub-prime-related losses Weak dollar BURBANK MARKET REPORT: There are 401 properties available for sale in Burbank ranging from $319,900 to $2,225,000.  Burbank homes in move in condition and those staged for sale continue to sell quickly.Seller Tips:  Stage your home for sale.  Lupe Soto offers complimentary service of a professional home stager to assist you in prepar... 11/07/2007

Lupe Soto, Buyer's Agent in Burbank CA  Se Habla Espanol 818 276 6882 You Can Give $3,600 or More of Someone Else's Money to B.T.A.C. and Alls It Takes Is A Mouse Click.  Burbank Temporary Aid Center is one of three participants selected for the November 2007 Bob's Big Boy "Charity of the Month" Program.  This is a winner take all contest.  Bob's will donate 1% of November's dining room sales to the organization that gets the most votes.  Please read this now:http://www.burbank.com/bwire/calendar/2007113001.shtmlSat Nov 3rd, Snapshot of Glendale Photo Project. The day to take your best picture(s) in Glendale. Submit for consideration from Nov 3rd thru Nov 17th.  Read More...http://www.ci.glendale.ca.us/photoproject/Sat and Sun, Nov 3 - 4, 10 am-5 pm Intertribal Arts Marketplace. Souther... 11/06/2007

Lupe Soto Burbank Realtor is available to find you a Burbank Home or Condo For Sale near your preferred elementary, middle or high school in Burbank CA.  Master Street Directory Listing or boundary chart.Find your next home or condo in Burbank, click here or  visithttp://www.HomesWithLupe.comRequest a List of Homes or Condos For Sale with Burbank Unified School District818-276-6882  Superintendent's message by Dr Gregory Bowman.State Accountability Progress Report for Burbank SchoolsRecently, the California Department of Education released the Accountability Progress Report for all schools and school districts in the state.  This report consists of two different accountability measures, both based on student performance on California's Standardized Testing and Reporting (STAR) Program. ... 11/06/2007

Burbank Mayor Marsha Ramos gave a positive report on the state of Burbank.    In her annual State of the City address she emphasized how "robust"  Burbank's economic outlook is along with with the City Council's committment to maintain a community with positive opportunities for it's residents.Unemployment in  Burbank is at 3.9%, which is lower than the California state average of 5.3%.  Mayor Ramos highlighted that five years ago the median price of a home was $256,000, today it's $650,000 and that despite the current downturn area prices remain an excellent investment.  Focus was given to the communications system that allows police, fire and other safety agencies to remain in contact during emergencies.  It was also mentioned that the Lake/Alameda area will get a walking path with li... 11/04/2007

Monday 5 ISM Non Manufacturing Survey Consensus 54 This survey consists of almost 400 firms across 60 different sectors. Analysts like to keep an eye on the business activity index of this survey as it gives an indication of economic health. 3 & 6 Month Bill Auction Tuesday 6 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. 4 Week Bill Auction and Treasury Strips Wednesday 7 Productivity and Costs This report looks at the growth or lack thereof in the efficiency of ... 11/04/2007

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 ... 11/02/2007

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                ... 10/31/2007

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... 10/31/2007

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!  10/31/2007

 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... 10/30/2007

  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... 10/29/2007

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... 10/28/2007

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 ... 10/27/2007

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... 10/26/2007

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... 10/25/2007

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... 10/25/2007

 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... 10/25/2007

 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... 10/24/2007

 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..... 10/24/2007

  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.....  10/23/2007