Monday, March 19, 2012

Burbank, CA Inventory is Down - It May Be Time To List Your Home!


If you live in Burbank, CA and have been wondering if it is a good time to list your home.  You may want to consider the following information. For the past few weeks, we've been noticing a decrease in the amount of new listings coming to the Burbank market.  To see how much, I put together a snapshot of available homes for sale in Burbank, CA that covers the past two years - February 2010 to February 2012. These numbers represent all single family, town homes, and condos  currently for sale in the city of Burbank, CA.  Even though the overall numbers have fluctuated, the chart shows that inventory is at its lowest amount in two years with February 2012 being 60% lower than February 2010!



Ah, but what about demand?  One may assume inventory is down because demand is down as well?  To answer this question, lets look at the amount of sales over the same period.  If sales have dropped, then demand surely has dropped as well?


As one can see, overall sales per month has hovered in the thirty to sixty properties per month range over the past two years - never dropping below thirty. And sales for February 2012 are actually up 9% from February 2010. With demand holding steady and inventory being low, it may be a great time to take advantage of the drop in supply and sell your home while at an advantage.

Call today and we can investigate if the time is right for you to sell. We'll investigate what your home is worth in today's market and see what your net profit is after paying off.

Philip Keppel
REALTOR®
DRE#01875431
Media West Realty
4105 W. Magnolia Blvd.
Burbank, CA 91505
818.845.9700 Office
818.845.9703 Fax
818.516.7387 Cell

Wednesday, February 22, 2012

Good News for Potential Buyers and Sellers in Burbank, CA


The Burbank City Council decided last night - Tuesday February 21, 2012 to extend the wood shingle and wood shake replacement Ordinance #3296 that was set for enforcement August 12 2012. The City Council extended the deadline to the following:
  • 2 years for exposed wood shake
  • 8 years for wood shingle covered with composite materials.
In a time where the housing industry is still in a state of recovery, we applaud the Burbank City Council for providing this relief for buyers and sellers!

Philip Keppel
REALTOR®
DRE#01875431
Media West Realty
4105 W. Magnolia Blvd.
Burbank, CA 91505
818.516.7387 Cell

Monday, January 30, 2012

City of Burbank - Beware of Wood Shake Roof Ordinance No.3296


Burbank, CA homeowners, potential buyers, and sellers need to be aware of local ordinance No. 3296  enacted in 1992 which requires all Burbank, CA homes to be free of wood shake or shingle material by August 14, 2012. This rule applies to both exposed wood shake, and roofs with wood shake material as an underlayment. Also, physical condition or age is not a consideration. If the law is left unchanged, a mandate will place a restriction/encumbrance on the title of all homes that are out of compliance. The encumbrance would then need to be cleared in order to refinance, transfer, or sell one's property.

Due to the difficult economic times, and state of the current real estate market, the Burbank Board of REALTORS has been trying to have a review of the ordinance by City Council at the Tuesday February 21st, 2012 6:00PM meeting. We are told that the city may consider three options:

1. Leave the current law unchanged.

2. Provide a 5 year extension for composition over wood shake roofs and continue the mandate to replace all exposed wood shake roofs by August 2012

3. Provide a ten year extension for all wood shake roofs.


The Burbank Association of REALTORS is asking Burbank homeowners to voice their opinions by either contacting their local Burbank REALTOR,  the Burbank Association of REALTORS (818-845-7643), or their local city council representative. Local council representatives can be reached by email at citycouncil@ci.burbank.ca.us

The current version of the ordinance will surely present some difficulties as buyers and sellers negotiate wood shake roof issues before the close of escrow. Be sure to investigate if the home you plan to purchase has exposed wood shake or shingle underlayment and how/if the seller intends to bring the home into compliance before making your offer. Feel free to contact me with questions or if you would like more information.

Best,

Philip Keppel
REALTOR®
DRE#01875431
Media West Realty
4105 W. Magnolia Blvd.
Burbank, CA 91505
818.516.7387 Cell

Tuesday, November 15, 2011

Join us in Burbank for Holiday in the Park 2011

Come out with the family this Friday November 18th 5:30-9:30p.m to Magnolia Park in Burbank, CA as the Magnolia Park Partnership presents their annual, "Holiday in the Park" celebration. The event will take place on Magnolia Blvd between Hollywood Way and Buena Vista Street. Our family has made it a regular part of our holiday season and we hope you will too! Every year the organizers find a way to improve the experience and it sounds as if this year will be their best ever!

Strolling carollers, tasty treats, live stage entertainment, and great prizes await those who come out to enjoy the festivities. There will be free pictures with Santa by the UMe Credit Union, activities for the kids, and lots more! Do make a point in stopping by Simply Coffee - Magnolia and Lima for some of the best coffee in town! For more information about Holiday in the Park, go to the Magnolia Park website: http://www.magnoliaparkburbank.org/ and make sure you download the passport for the evening. Get your passport stamped at the participating stores along the route to become eligible for prizes. We hope to see you there!

Best,
Philip Keppel
REALTOR®
DRE#01875431
Media West Realty
4105 W. Magnolia Blvd.
Burbank, CA 91505
http://www.philandjill.com/
philipkeppel@yahoo.com
818.845.9700 Office
818.516.7387 Cell

Wednesday, October 5, 2011

Live in the City of Burbank? Let's Have a Garage Sale this Weekend!


Come discover the meaning of the phrase, "One man's trash is another man's treasure" this weekend as the City of Burbank kicks off its community-wide yard sale! City residents are invited to host garage sales this Saturday October 8th and Sunday October 9th as part of the City's - Second Chance Weekend. Permits will not be required so feel free to grab that old rocking chair, mismatched hubcaps, and used baby stroller you've been meaning to get rid of and set up shop. Jill and I will be taking the opportunity to unload our old washer and dryer. Hope to see the streets full of treasure hunters!

For more information about the, "Second chance weekend", go to the City of Burbank License and Code Services Division.

*** NOTE - Even though permits are not requires during the second chance weekend, all other garage sale regulations will still be in effect. If you have any questions, please call the License and Code Services Division at (818) 238-5280.***

Best,
Philip Keppel
REALTOR®
DRE#01875431
Media West Realty
4105 W. Magnolia Blvd.
Burbank, CA 91505
www.philandjill.com
philipkeppel@yahoo.com
818.845.9700 Office
818.845.9703 Fax
818.516.7387 Cell