14September2008

Housing Recovery Likely in 2010, (But Wait) Expert Predicts Beginnings Could Start in 2009

Posted by staceysloan under: Housing and Economy; Housing Recovery.

Real estate economist Richard K. Green, director of the USC Lusk Center for Real Estate, was interviewed by Jeff Collins of the OC Register.  For a complete transcript of his interview, just give me a call and I will email to you.  Essentially Green thinks 2010 is still about right for the recovery, but believes there is some chance for next year because prices have fallen sufficiently.

Green also was enthusiastic about the raising of the conforming loan limits and changes with FHA and the positive impact it would have on Southern California in particular.

IMPORTANT!  I ALSO HAVE A GREAT ARTICLE ON HOW NOT TO GET SCAMMED IF YOU ARE FACING FORECLOSURE!  THIS IS A MUST READ IF YOU ARE IN A DISTRESS SITUATION.  Give my office a call and I will email it over to you.   Have a great month and give me a call with any real estate related questions.  It’s my pleasure to serve you and your referrals.

7August2008

Most Other Industries are in Good Shape, Avoiding the Downturn

Posted by staceysloan under: Housing and Economy; Life in Orange County.

Again, The Kiplinger Editors have interesting data on Southern California.  It is important to mention because again, they are experts on California and their information is regional, not national.  What do they say?  Tourism is getting a huge boost because of how strong the Euro is right now.  “High tech will benefit from consumer demand for cell phones, games, and software.”  Kiplinger believes agriculture will benefit from foreign consumers buying more food.  Entertainment is counting on strong ad dollars for TV this fall.  Some areas will lag such as retail shopping centers and state and local governments.

15July2008

The Actual Numbers, Including Foreclosures for May 2008

Posted by staceysloan under: Housing and Economy; Buying a Home; Housing Recovery; Selling a Home.

A total of 33,024 new and resale houses and condos were sold statewide in May.  That was up 6% from April and down 10% from May of last year.  Southern California sales volume from Ventura County to San Diego County was 16,917 as compared with 19,874 a year ago.  Orange County’s total number was 2,266 which was a 15% downturn from May ’07.  The median price went from $635,000 to $485,000.  Yes there was another jump  in California foreclosure activity.  Souther California had a total of 65,309 Notices of Default issued the first quarter of 2008.  Orange County had 7,082 which when compared with Los Angeles County at 20,339 and Inland Empire at 26,171, doesn’t seem so bad.  Allo fo these numbers for Southern California, broken down by county are available to you.  Simply call me and I will get them to you.  (Source:Dataquick)