Archive for February, 2010
2010 Local Home Market Off To A Good Start
The latest home inventory report shows the demand for local homes is starting off 2010 at its highest levels in 5 years.
Homes listed for under $750,000 are selling like wildfire, with multiple offers on most homes and sales prices above the list prices. The expected market time of homes in this price range is less [...]
O.C. Homes Sales Down For Million-Plus Homes
In 2009 only 2,448 homes were sold in Orange County at prices of $1 million or more. That is a 14.5% decrease from 2008 when 2,862 homes were sold.
Compare those figures to 2007 when 5,200 million-plus homes were sold. This large decrease in number of homes sold is a product of the recession ad well as [...]
Distressed Properties Continue To Dominate O.C. Market
The latest reports on Orange County homeowners shows that 14.4% were underwater in the 4th quarter of 2009. Homes with mortgages larger than the current value of the home were used in this calculation.
Distressed properties currently account for 33% of the market in Orange County. Out of all home sales that took place in Orange [...]
O.C. Had 8th Largest Rent Cut In The Nation
At the end of 2009, rents throughout Orange County were falling at the 8th fastest rate in the nation. The typical Orange County rent in the 4th quarter was $1,504 a month – down $67 or 4.3% in the year.
Out of the 79 big markets tracked the average rate that rents fell was 2.3% [...]
11Feb2010 | Adam | 0 comments | Continued
2009 O.C. Bankruptcy Filings Highest In Decade
In 2009, the highest number of Orange County individuals and businesses filed for protection in the federal bankruptcy court in at least a decade.
In Orange County, filings for the year were 64.1% higher than in 2008 and throughout the entire Central District (which includes most of Southern California) filings were 64.9% higher than the previous year. [...]
Bad News Again For Fullerton’s Snow Day
Rainy-day forecasts for this weekend have forced Fullerton activity coordinators to
postpone their Snow Day event for the second time this year. The new Snow Day date is February 13. The time will remain the same – 12pm to 3pm – and it will still be taking place at theBrea Dam Park, 1700 N. Harbor [...]
Number of CA Real Estate Agents Decreased In 2009
The number of people that have California real estate licenses declined by 5.5% in 2009. December’s agent total was the lowest monthly total since May 2006 and at the end of 2009 only 503,284 people still retained a California real estate license.
In the state there is still one real estate agent for every 25 households; [...]
9Feb2010 | Adam | 0 comments | Continued
O.C. Tops List For Housing Risk
The latest housing risk assessment released shows that Orange County has a 99.9%
chance of price loss over the next two years.
Orange County was tied to 9 other U.S. markets for having the highest chance of risk. The other cities included Miami, Inland Empire, Vegas, Fort Lauderdale, LA, Tampa, Jacksonville and Orlando.
The score was based on several [...]
November Was Rough On O.C. Hotels
In the month of November hotels throughout Orange County saw room rates fall 10% in a year and saw 41% of rooms remain empty.
The biggest cuts in room rates occurred in the hotels surrounding John Wayne Airport where hotel room rates were cut 17% on average. Due to the continued success of Disneyland in spite [...]
Home Remodeling In O.C. Down For 4th Straight Year
The estimated value of residential home improvement projects in Orange County dropped 47% since such worked peaked in 2005. The level of home remodeling and additions has fallen to its lowest level in nearly a decade.
In Orange County the estimated value of home remodeling permits was $302 million in 2009, down for a fourth straight year.
The [...]
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Great info, thanks for sharing. Not much would be selling in Charleston SC if we did not have the FHA ...
I discovered your homepage by coincidence.
Very interesting posts and well written.
I will put your site on my blogroll.
:-) 
Nice writing style. Looking forward to reading more from you.
Chris Moran 
Congrats to Troy!
Aloha,
Keahi 
Very interesting information. It's nice to know that the banks may have a strategy rather than being completely reactive. ...
I found your blog on MSN Search. Nice writing. I will check back to read more.
Eric Hundin 
Hello Adam,
My husband and I participated in this years car show for the first time. My husband entered his ...
These are just a few of the things that should be taken into consideration when you are looking for a ...
I think one thing that many people underestimate is the time and money that goes into restoring an old house. ...
FHA loans over 95% require 2 apprisals with the new guidelines. The banks apparently value their opinion.