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Joe Zapata - Your Burbank Real Estate Expert

City of Burbank Mayor's Healthy Community Fair April 5th, 2008

Saturday, April 5th -- 9am to 12pm

Chandler Blvd between Keystone St. and Lincoln St.

Starts right after the Mayor's weekly 8 a.m. walk on Chandler Bikeway. There will be health screenings, lots of great information to help keep families healthy, a fun-filled activity zone, entertainment, and prizes. The Entertainment Showcase will include ballet and jazz, country cardio, hula dancing, family exercise, and family dance. Fun activities in the Activity Zone include a rock climbing wall, gymnastics arenas, and an obstacle course. The Burbank Healthy Community Fair is sponsored by the City of Burbank , Burbank Community YMCA, Providence Saint Joseph Medical Center , Robeks Juice and Trader Joe's. The Fair will take place rain or shine. And it's all FREE.

Check here for further details on a printable flyer.

New Los Angeles County FHA Limit Increase

I just attended a class with my preferred lender about the new FHA Limits and Guidlines for the County of Los Angeles. Per the class what I found was that the new basic guidline Key Popints are as follows:

  • 3% down Payment - Gift funds are ok without seasoning
  • No Income Restrictions
  • Rates are currently below conforming
  • No required roof inspections such as Termite, Roof, Septic etc.
  • Normal appraisal requirements
  • Normal Timeline are in place for direct FHA approved lender. Longer time limits may apply for brokers
  • Non-occupying co-borrowers are allowed
  • Seller Disclosures are quick and easy
  • Owner Occupied and Full Doc only
  • Seller not required to pay upfront MIP
  • Temorary Loan Limits for Los Angeles County are set at:
    • 1 - Unit: $729,750
    • 2 - Units: $934,200
    • 3 - Units: $1,129,250
    • 4 - Units: $1,403,400

As it stands these limits are in place until the end of 2008. They are forcasting that in the next few months FHA will account for over 70% of all loans out there.

Please feel free to comment on any holes that may have been missed in this post as there was a lot of material to cover.

The Neon Bus Tour is a Must when in Los Angeles

Last night our office in conjunction with our preffered lender enjoyed a treat that I felt the need to share.

We had the opportunity to go on the NEON BUS TOUR. Now I have always been a fan of being a tourist in your own town as it can be fun to see what visitors do and this was a prime example.

The NEON BUS TOUR is a 3 hour trip on a double decker bus through the streets of Downtown Los Angeles and Hollywood. It highlights the architectural history of the buildings and their backgrounds. There are also stops in China Town and Canter's in Hollywood.

The tour guides are a lot of fun and the tour is informative as well as entertaining. This is must do on anyones list whether you are a tourist or a resident. I have lived in Los Angeles my entire life and walked away learning a few new things.

For more info on this great tour in our wonderful city you can visit http://www.neonmona.org/.