Renters In Lake Forest Get Big Price Cut

Lake Forest apartment renters got the biggest O.C. rent cuts in the fourth quarter
of 2009. On average renters in Lake Forest got an average of $173 a month off their rent – an 11.4% cut.
The average rent in the city was $1,347 a month during the fourth quarter compared to $1,520 in the fourth [...]

Renting In Newport Beach Is Like Buying A Mortgage

The average Newport Beach apartment rented for $1,902 a month in the last three
months of 2009 – just $400 less than the typical Orange County mortgage payment. Landlords in Newport cut rents by 2.2%, to try to fill the 5.8% vacancy rate.
Countywide the average rent was $1,473. Newport Beach, Irvine, Aliso Viejo, Costa Mesa and [...]

Demand For Local Housing Up

Demand for local homes is double what it was 2 years ago. In the past two weeks the demand for homes and number of new pending sales increased by 12% to 2,547. The demand for local housing has not been this strong in January since 2004.
Based on market time it would take 3.02 months for [...]

Sales Of Million Dollar Homes Fell For 4th Year

For the fourth straight year the number of Orange County homes selling for $1 million or more fell.
Overall, sales of million-plus homes were down nearly 60% since 2005.
On a positive note, sales of homes for under $1 million jumped 17.4% from the year before. Thanks mostly due to sales of homes under $500,000. Most of [...]

O.C. Ended 2009 With Highest Median Selling Price In Over A Year

The monthly median selling price of a home in Orange County ended 2009 at $435,000. That was the highest selling price in 15 months and up 11.8% from 2008.

Although the median selling price of $435,000 is still 33% below the peak reached in June 2007, it is 18% above the cyclical low hit last January.
In [...]