Friday, January 28, 2011

More "3's" in Burbank

A couple of weeks ago, I blogged about the three gun stores in Burbank on a one-mile stretch of Magnolia.

Today, I saw another "three" -- this time, it was three homeless people on one three-block stretch of Victory, right around 5 points. What has happened to our city's vaunted social services?

Tuesday, January 25, 2011

San Fernando Valley real estate is heating up

I'm noticing more buyer activity for homes for sale in Burbank, Glendale, North Hollywood, etc. More showings, more offers. This is consistent with what I've seen in the past in January. I'm not seeing prices rise -- yet. Now, we just need more inventory.

Sunday, January 23, 2011

Homes in Burbank, Toluca Terrace, North Hollywood and Glendale between $364k and $422k

I showed a bunch of houses in Burbank, Toluca Terrace, Noho and Glendale yesterday and here's my take:

6121 Auckland, North Hollywood $389k - a flip, and very nicely done. Only one street out of Burbank. Three beds, 2 baths and I'm told they have one offer in already.
1805 Hollywood Way, Burbank $355k - a short sale with a nice layout. Well kept up, possible alley access, but of course on Hollywood Way. Difficult to show.
10401 Margate, Toluca Terrace, $419k - a short sale in one of my favorite pockets. Nicely redone 3+1 with a nice big kitchen. Exterior needs a little work. Third bedroom is now an office without a door. One street outside of Burbank.
528 N. Griffith Park, Burbank, $422k - This foreclosure has been on the market for quite awhile and has fallen out of escrow at least once. It needs some work, but since the price was just reduced to $422k, it's now priced a little below comparable properties. It's a 2+1 with a huge, non-permitted (I think) guest house in the back. Main kitchen is large.
752 Glenwood, Glendale $389k - another flip, and cute as hell. But no backyard, teeny kitchen and proximity to Hoover High and a grade school make this a questionable buy for my clients, IMO.

Saturday, January 15, 2011

Homes in Burbank between $425k and $455k

I case you're wondering about the selection of 3 bedroom Burbank homes and condos in the $425,000-$450,000 price range, I just showed several. Here's my opinion.
1225 Frederic - approved short sale in a nice neighborhood. House looks like somebody tried to flip it and ran out of money. The front needs work, there's a one-car garage, and the pool has not been maintained and is a yucky green color. Kitchen is nice, though.
2268 Ontario - regular sale in this planned unit development across from Yahoo. Each house is a stand-alone with no common walls, but no yard either. The complex was built in 2001 and each unit is very spacious, with a modern layout.
1523 Valley - close to North Hollywood, and its a regular sale. Lots of improvements but the kitchen is small. It looks like it has been added on to several times over the years. Huge yard with pool.
4268 Kling - (pictured above) I love this complex (each unit has its own 2-car garage) because it's so well-maintained and in such a nice area. This unit is a particularly good deal for the complex and the kitchen has been redone.
1211 W. Orange Grove - this foreclosure is right across from Disney school. Looks okay from the outside, a little cobbled together on the inside. Big, green backyard. May be another flip where the owners ran out of money.

Friday, January 14, 2011

North Hollywood's Tonga Hut Tiki Lounge bar rocks

I bring this info to you merely as a public service, of course. For research purposes on North Hollywood neighborhoods only, colleague Sharon and I attended happy hour at the Tonga Hut Tiki Lounge on Victory in North Hollywood. We were chaperoned/chauffered by my husband Steve (that's him in the pic with a tiki). We had a great time, even though we were at least 20 years older than any of the hipsters there. It has tiki hut decorating down, a dance floor, cool jukebox, friendly bartender, and a non-pretentious vibe. Best of all, happy hour drink specials -- even the fancy tropical drinks -- were only $4 to $5!

Monday, January 10, 2011

Burbank's Magnolia Blvd. now has three gun stores

How many gun stores does one Burbank street need? Lots, apparently. Magnolia Boulevard now has three gun stores within the mile between Victory and Buena Vista. Is there that much demand in that neighborhood? (I'd like to point out that there are only two bars in the same stretch of road. Probably a good thing, considered.) Is this what the Magnolia Park folks (the merchants association) had in mind? Is this what the city council had in mind? Is this the same city council that would not allow new restaurant establishments on the same stretch of road a few years back because patrons might park on surrounding residential streets? Um, priorities?

Friday, January 07, 2011

Daytime residential burglaries in Burbank's hill area

From Burbank police department:
The Burbank Police Department is currently investigating several residential burglaries, which have occurred on the hill area of the city, east of the Golden State freeway. The burglaries have occurred primarily during the morning to early afternoon hours. A blue full-sized pick-up truck, with a tool box was observed during one incident, and witnesses observed a brown Toyota Camry with tinted windows at the scene of a separate incident. We are asking residents in this area to be mindful of this issue, and to immediately report any unusual activity or suspicious vehicles to the Police Department. Basic crime prevention efforts such as locking doors and windows when not at home should also become routine.

Non emergency information can be reported to the Burbank Police Department at (818) 238-3000.

Lobstatruck comes to Burbank

I've been delighted to see more and more high-end food trucks coming to Burbank.  I was particularly excited when I learned that Lobstatruck was coming to Burbank this past Tuesday.  Michele from my office and I drove to the truck when it parked in front of Yahoo at lunch time.  The line was long.  We waited 45 minutes to order.  Was it worth it?

Absolutely.  The lobster roll was the best I've ever had, and one of the best meals I've had in months.  The lobster pieces were the size of my thumb, the bread was fresh, the portion was generous, and it was only $11 plus tax.  What a welcome treat in the land of chain restaurants!

Monday, January 03, 2011

From Pepperdine's Business School: The changing role of the real estate broker

Here's an article from Pepperdine's Graziadio School of Business journal about the future of residential real estate brokers.  The take-away: that the business is moving more and more on line, and "disintermediation" may be the wave of the future.

Sunday, January 02, 2011

LA Times: Housing recovery: are we there yet?

Here's some Sunday reading from today's L.A. Times: Alejandro Lazo's survey of five housing experts on what we can expect from the real estate market this year.  Not to be critical, but remember the old saying: ultimately, nobody knows anything.