Surterre’s Weekly Financial and Market Update

Week Ending 5/3/2011

“Glass Half Full” Perspective

ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/28/2011

Jonathan Lansner

“LOCAL HOMESELLERS SEEK FOURTH-HIGHEST PRICES IN U.S.”

Orange County property owners were asking for the fourth-highest median home prices in the nation ($450,000)

The only three markets of the 146 markets tracked were prices were higher were:

 San Francisco         $639,000

Santa Barbara         $559,000

San Jose                    $470,000

The national average was $199,500

The cheapest was Detroit at $99,000

ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/28/2011

AP

“NEW-HOMES SALES UP 11 PERCENT IN MARCH”

More people bought new homes in March, helping give the battered industry a small lift, after the worst winter for sales in almost half-century.

Many builders are waiting for the glut of foreclosures and other distressed properties to be cleared before stepping up construction.

ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/27/2011

Jeff Collins

“SLUMP CUTS NUMBER OF REAL ESTATE AGENTS”

California has posted a 16 percent decline since the meltdown of 2007. California had 462,809 real estate license holders as of January. That is the lowest number in more than 5 ½ years.

ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/24/2011

Kelli Hart

“$14.2 MILLION HOME SALE A RECORD FOR DANA POINT”

A luxury Oceanfront home in the Strand just closed for $14.2 million. The home sat on the market for about 2 years with John McMonigle.

The dollar-per square foot value comes out to $2,336. That price marks a positive trend for Luxury home sales in Orange County.

The second half of 2010 saw the average price per square foot dip below the $2,000 per-square-foot mark for the first time in many years.

This year has seen a moderate increase with most sales above $2,000 per square foot and one very recent sale over the $3,000 mark.

ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/24/2011

“MARKETS NEAR BOTTOM”

Many investors are jumping on markets nearing bottom, such as Vegas, Phoenix and the Inland Empire, to turn a profit.

“Glass Half Empty” Perspective

ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/28/2011

Jonathan Lansner

“GROWING NUMBER OF SELLERS”

The number of sellers is growing. Orange County had 18,888 homes for sale in march, up 11.5 % in a year. National supply was up 9.8% in a year.

It also takes longer to sell. Orange County homes that were listed had been on the market for an average of 100 days in march-up 33 percent in a year.

ORANGE COUNTY REGISTER REAL ESTATE SECTION 4/14/2011

“HOME SALES DROP HINTS AT SLOW SPRING”

Typical strong season sees 2 percent drop in deals.