The median price of O.C. homes rose in the month of May. Aided by the slight decrease in the sale of foreclosed and a slight increase in the sale of higher priced home. Half of all the existing houses and condos sold in Orange County in May were foreclosed homes. When foreclosure re-sales were i
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07/08/2009
Since the FBI listed California as one of the state’s with the most cases of mortgage fraud I thought it would be important to share with you several of the mortgage fraud schemes that are popular today. One is a twist on equity stripping. It involves buying a property with a straw buyer and tur
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07/08/2009
The number of distressed properties on the market in Orange County fell by 4.7% in the past 2 weeks. This past week there were 2,919 homes listed on the market which is 143 homes less than were listed 2 weeks ago. The number of distressed homes has dropped 46% since December 26, 2008 while the n
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07/06/2009
For the month of May , 9 of the 83 Orange County ZIP codes had gains in their respective median selling prices; Overall though prices were down 12.2% from a year ago. 5 ZIP codes in Orange County had median sale prices above $1 million in the period compared to 11 ZIP codes having a median sales
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07/05/2009
For the month of May the median selling price was $420,000, the last time it was higher was September of 2008. It is down 12.2% from a year ago and 35% below its peak of June 2007. Prices have been falling at a year over year basis since September of 2007 with the worst month being August 2009 w
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07/03/2009
The City of Fullerton is having their annual Old –fashioned Fourth of July festival and firework spectacular. Fullerton High School Stadium is located on 201 E. Chapman Ave and will be hosting entertainment including circus acts, carnival games, pony rides, live music with Dick Dickerson (rockab
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07/03/2009
The latest information release from DataQuick shows that home prices have begun to increase in the recent months. Home prices in Orange County are likely to fall 19.1% more - the 15th biggest drop out of 100 metropolitan areas in the U.S.A. When the dust settles, O.C. prices will have tumbled 4
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07/02/2009
The Mortgage Bankers Association announced that the number of mortgage applications rose 6% last compared to the prior week and nearly 18% compared to the same period a year ago. Only 4.1% people applied for an adjustable rate loan in the last week. Since last week the refinance index rose 5.9%
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07/02/2009
The Federal Housing Administration insured $27.3 billion in single-family mortgages in April, which is a 85 increase from the previous month which is due to higher mortgage purchase volume. In the last month mortgage purchase volume has raised $1.6 billion to $11.7 billion, while refinancing ros
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07/01/2009
The Federal Reserve has announces that it will allow one of its emergency programs to expire and trim down two other programs. This is sign that the financial markets are beginning to improve and is the first step towards terminating all of the Federal Reserve’s unprecedented interventions. The
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07/01/2009
