Over a dozen O.C. firms and homebuilders have defaulted or may be at risk of default this year. Next year isn’t looking much better with a slew of commercial defaults likely to occur due to the lack of financing and loan repayments becoming due. Commercial property owners are feeling the sque
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10/06/2009
Last week the number of distressed properties on the market in O.C. was 2,346 down 1.6% from two weeks earlier. The distressed inventory has dropped 44% from its peak reached in August of 2008. They accounted for 29.6% of the market last week. Currently there are 320 foreclosures for sale in a
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10/06/2009
The active listing inventory in Orange County has dropped 33% since the beginning of the year and is under 8,000 for the first time since January 2006. In just two weeks the inventory has dropped 2% and there are only 7,917 homes in the active listing inventory at the moment. At this time last
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10/06/2009
A new report has come out ranking Southern California the third lowest region based on pay and benefits – out of the 15 largest metropolitan areas. Employers in Southern California paid workers an average $29.24 an hour in combined pay and benefits. The average hourly wage in Southern Califor
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10/06/2009
Housing construction in O.C. is down 12% from last year, after falling 84% from 1999 to 2008. This year’s drop is the smallest among California metropolitan areas. The only metro area that did better percentage wise than O.C. was Vallejo-Fairfield that saw the number of single-family home build
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10/03/2009
For the second month in a row LA/OC home prices were up, last month they rose 1.8%. In a study done on 20 U.S cities the composite home price index was up 1.65% compared to June. This was the 3rd consecutive month-to-month gain. 13 of the cities studied had at least 3 months of positive pricing
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10/03/2009
For the second month in a row LA/OC home prices were up, last month they rose 1.8%. In a study done on 20 U.S cities the composite home price index was up 1.65% compared to June. This was the 3rd consecutive month-to-month gain. 13 of the cities studied had at least 3 month
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10/03/2009
O.C. shoppers purchased 2,880 residences for the 22 business days ending September 14. The buying activity for that period was down 0.6% from last year. August was the 14th straight month of sales gains compared to the year-ago period. Less than half of O.C. ZIPs had year-over-year sales gain
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10/03/2009
Throughout the U.S. 263,000 jobs were cut in September pushing the unemployment rate to 9.8%. This was an un-expectedly large amount of job cuts. This is the 21st month in a row that the United States has lost jobs. September had the lowest monthly job loss since August 2008, since the recessio
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10/03/2009
Saturday Oct. 10th is Fullerton’s annual “A Night In Fullerton.” The event features free music, dance and visual programs at several locations throughout historic downtown Fullerton. Admission is free and festivities will be held from 5-9 p.m. Some of the venues participating in the event are
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10/03/2009
