Local homebuilder Lennar Corp. has reported its first quarter in the black since the winter of 2007. In the fourth quarter of 2008 Lennar reported a net loss of $811 million but in the fourth quarter of 2009 they had a net profit of $35.6 million! Their new found profitability has come as a sho
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01/14/2010
Although Orange County has seen median price increases since last year, the median price per square foot of a home in Orange County remains at 2003 levels. The price per square foot is considered a more reliable way to measure home values than the overall median price since the price per square
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01/14/2010
This morning California Governor Arnold Schwarzenegger proposed the adoption of a new homebuyer tax credit for California taxpayers. The newest tax credit proposal would apply to the purchase of new homes as well as existing homes. Congress has already extended the federal homebuyer tax credit,
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01/14/2010
On January 4th Dubai real estate developer Emaar officially opened the largest building in the world. At the peak of the American housing boom Emaar lost $1.6 billion by buying Orange County homebuilder John Laing in 2006. Currently Laing is being liquidated in bankruptcy court. The building
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01/14/2010
According to the latest report issued by job search engine juju.com, Los Angeles placed 44th out of 50 metro areas in terms of difficulty finding a job. Job seekers in the LA area are competing with 10.43 people for every advertised vacancy. Washington D.C. was the easiest place to find work wi
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01/14/2010
The homebuilding slump in Orange County continues into the New Year. 2009 Was the s lowest year for local building permits for single-family homes filed by developers since World War II. 2009 was local homebuilding’s new “worst” year. Permits have been issued for just 1,182 new houses and townho
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01/14/2010
The “hardest” O.C. city to find a home to purchase is Rancho Santa Margarita. This is based on the theoretical “market time”. Rancho Santa Margarita currently has a market time of 1.4 months – a year ago their market time was 4.7 months. The top 5 O.C. cities that currently considered that hard
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01/14/2010
The co-founders of Pacific Property Assets are trying to keep their company afloat by agreeing to have their pay temporarily cut by mid-January and reduced by 94% by April. Michael Stewart and John Packard had been earning $750,000 a year each before their firm defaulted on roughly $215 million
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01/14/2010
Through the first week of December, 44 of O.C.’s 83 ZiP codes had gains in their respective median selling prices. Prices fell in 37 of the ZIP codes, but Garden Grove’s 92844 ZIP had the same median price as a year ago. Seven of O.C.’s ZIPs had median sales prices above $1 million in the per
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01/02/2010
The median price of an Orange County single-family home increased 10.1% in November from November 2008, the biggest percentage gain in four years. The median price of a house in Orange County was $499,020. That’s 10.1% higher than in November 2008. Last month’s median was 1.8% higher than in Oc
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01/02/2010
