Boker's Blog

Glass Half Full Perspective

ORANGE COUNTY REGISTER BUSINESS SECTION 7/11/2011
Jeff Collins
“Region’s Rents Start to Rise”
Although these increases have yet to combat the recession fully, monthly rents and occupancy rates in Southern California are starting to rise at an average of 2.3% in San Diego County and 2.9% in Los Angeles County. Apartment Occupancy is tightening, but is still not back to pre-recession levels.

ORANGE COUNTY REGISTER BUSINESS SECTION 7/9/2011
Jonathan Lansner
“Newport Beach Home Sales Jump 11%”
Real Estate in Newport Beach is starting look better as 78 homes are sold compared to last years 70, which is an 11% increase. Although more homes have been sold compared to last year, we are seeing median selling price dips in 4 out of 6 ZIP and shows only an increase in 2. ZIP Codes 92661 and 92657 (Newport Coast) show an increase of 18.3% and 53.3% for median selling price.  92661 Newport Beach -- median selling price of $2,200,000 that was up 18.3% vs. a year ago. Homes sold were 8 -- that was up 60.0% vs. a year ago. 92657 Newport Coast -- median selling price of $2,200,000 that was up 53.3% vs. a year ago.

LOS ANGELES TIMES BUSINESS SECTION 7/8/2011
Jim Puzzanchera
“New Effort to Address Foreclosure”
Some unemployed homeowners will be allowed to miss a year of loan payments without the threat of foreclosure while they try to find a new job. Obama spoke on the matter saying that we have had to “revamp our housing programs several times to try to help people in their homes and to start lifting home values up.” It is expected that this new addition to the program will benefit 4.6 million homeowners who are behind on their mortgages.

ORANGE COUNTY REGISTER REAL ESTATE SECTION 7/3/2011
Jonathan Lansner
More signs market "double dip" may be history"
Home Prices in Los Angeles and Orange Counties rose in April for the first time in 9 months. The 0.26% gain from March was the first month to month uptick since July of last year. Although home prices are still 2% below what they were in April 2010 and are still 39% below the all-time high set in September 2006.

Although this information isn’t enough to predict a trend, it is hinting at the spring’s home pricing may have been better than originally feared.

ORANGE COUNTY REGISTER TIMES BUSINESS SECTION 7/2/2011
Jeff Collins
"Population shifts will influence Real Estate"
Baby boomers will continue to dominate real estate and future business demand, BUT immigrants and Generation Y (ages 15-32) will also have a big impact on housing rentals and shopping centers. Immigrants now total 38 million (12% of the U.S. Population). Baby Boomers and Gen Y account for 25% of the population. By 2015, it is predicted that 82% of the U.S. population will prefer a single family home, 9% will prefer condos, and 5% will opt for townhouses and duplexes.

ORANGE COUNTY REGISTER BUSINESS SECTION 6/29/2011
Jonathan Lansner
“O.C. Home Sales On Par with 2010”
The number of pending sales over the past month has decreased by 40 homes in the past two weeks leaving 3060 pending sales, which is about on par with last years pending sales (3107) during this time last year.

Glass Half Empty Perspective

ORANGE COUNTY RESITER BUSINES SECTION 7/6/2011
Jess Collins
"Really?  Housing Crisis worse than Depression"
The housing crisis that began in 2006 is now worse than the Great Depression.  Prices have fallen some 33%, greater than 31% fall from the late 1920's to the early 1930's, according to Case-Shiller data. (CNBC)

Federal prosecutors allege that eight real estate investors conspired not to bid against one another at foreclosure auctions in two Northern California counties. (Forbes)

The volume of distressed commercial real estate totaled $181.1 billion in June, up $500 million since April, according to Delta Associates and Real Capital Analytics. (GlobeSt.com)

ORANGE COUNTY REGISTER REAL ESTATE SECTION 7/3/2011
Jeff Collins and Jon Lansner
"Revenue from Home Sales Down 16% from Year Ago"
Orange County home sales generated 16 percent less money for homeowners and their agents is May compared with a year ago. However, home sales revenue has been rising in the last months. Mays total being the highest its been it 10 months.

ORANGE COUNTY REGISTER REAL ESTATE SECTION 7/2/2011
Jonathan Lansner
"Home Prices Fall in 7 of 8 Irvine Zip COdes"
Homebuying in Irvine is slowing down. Data from MDA DataQuick, states that sales are down as much as 15.6% compared to a year earlier. Median prices currently range from $440,000 to 837,500 compared to last years range of 480,000 to 983,750.

ORANGE COUNTY REGISTER REAL ESTATE SECTION 6/29/2011
Jeff Collins
"HOusing slump to last 3 or 4 More Years"
Emile Haddad, CEO of developer FivePoint Communities, said that a backlog of vacant homes in Orange County needs to be cleared up before homebuying demand can get back to normal.

That said, the speakers believe that Orange County is a bright spot in the housing market and will revive more quickly than other, harder-hit areas.