Summer was the perfect time for visitors to travel to Southern California. Not only is the weather perfect but this year hotel room rates fell 16%. Despite those incentives 25% of local hotel rooms went empty – compared to 19% a year ago. The countywide “revpar” score (which measures hotel ca
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10/25/2009
Last month in Orange County investors purchased 39% or 278 of 718 homes and condos sold at auctions. Less properties are being returned to banks as lenders and loan servicers offer bigger discounts as high as 60% off debt owed on a first mortgage. Most homes seem to get a discount of 30% off de
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10/25/2009
After dropping to a record low in the winter, new-home sales have rebounded in Orange County. This could be the beginning of the recovery. Due to the fact that resale homes are in less supply and are being picked off the market quickly, it may be in many homebuyers best in
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10/25/2009
Rents at large Orange County Apartment complexes have fallen 5% in the last year averaging $1,523. That is a decrease of $80 a month and marks the fourth consecutive quarterly year-over-year drop. Nationally the average price of rent dropped 3.7%. Vacancies fell from the second quarter by 1 fu
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10/23/2009
In early November the Treasury Department is expected to report the results of the first batch of loans modified under the Home Affordable Modification Program. Currently it seems that one of the major criticisms of HAMP is the pull through rate. Many clients give up before they get to the end
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10/23/2009
Employers appear to be beginning to hire once again. More employers announced plans to hire more people in the first nine months of 2009 than in the first three quarters of 2008; an increase of 88%. The retail industry led all sectors with their plans to hire. Retailers announced plans to hir
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10/23/2009
Last month Orange County was the only county to see an increase in median home prices. County Median Vs. ‘08 Sales Vs. ‘08 Los Angeles $330,000 -8.3% 7,138 13.8% Orange $429,000 0.9% 2,828 6.0% Riverside $185,000 -22.1% 4,312 -5.3% San Berdoo $150,000 -26.8% 3,023 6.8% San Diego $325,000 -0.9% 3
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10/23/2009
In the month of September 467 homes were sold in beach city ZIP codes, up 19% from a year ago. The median selling price of those homes was $661,750 a price drop of 1.7%. South County and beach city home sales were up 18% from a year ago, where as northern and inland county sales are down 1%.
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10/23/2009
The California Association of Realtors has put out a new study showing that 55% of 2009 business originated from the internet compared to 48% in 2008 and a mere 24% five years ago. The most popular sites used to obtain real estate information are Zillow.com, Craigslist.org and Yahoo! Real Estate
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10/23/2009
Q. In 2005 I bought my condo in South County for $305,000; it is currently worth $170,000. I have a 1st and 2nd interest-only loan both at 7%, both adjustable, and with the second coming in as high as 11%. I have kept up with my loans but I can’t get any help refinancing. I tried to refinan
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10/19/2009
