Home Prices Climb

Home prices in major cities continue to climb

"Standard & Poor's/Case-Shiller index rises 1% in August from July in its third consecutive monthly gain. Southern California cities, led by L.A. and San Diego, show notable increases...separating themselves from other Sun Belt cities, including Las Vegas and Phoenix..."

Good News About Real Estate

Are you tired of hearing or reading about bad news?  If you have a friend or relative that would like to receive this blog, please send me their name and email address.


All the leading indicators say housing is definitely on the mend, economists reported in advance of the official release of several pieces of good news expected this week.

Bloomberg News surveyed 53 economists and asked them where they expected the numbers to fall. Here are their predictions:

Construction starts in September are expected to hit a 610,000 annual rate, the most since last November.

Sales of existing homes likely rose to a two-year high.

Because of fear of a relapse, the Federal Reserve is predicted to leave interest rates low for a few more months.

Building permits, a sign of future growth, probably rose to a 590,000 annual pace, also the highest level since November, the Commerce Department is likely to announce.

The National Association of Home Builders/Wells Fargo index is expected to rise to 20 from 19, the economists say.

Google Inc. plans to resume hiring and acquisitions after its third-quarter sales beat analysts’ estimates. CFO Patrick Pichette says: “We weathered what is an incredible recession. If you have all this behind you, the only outcome you should have as management is: ‘OK, let’s build now.’”

Source: Bloomberg, Courtney Schlisserman (10/18/2009

AAA Four Diamond Awards

The Surf and Sand Resort and the Studio resturant at the Montage Resort have received four diamond awards by AAA. Both businesses have been recepients of awards by AAA in the past. (Source: AAA Guide books and the Orange County Register, October 15, 2009) 

California Is Where People Want to Be

An August Harris Poll found that most Americans--despite CA's budget deficit and political chaos--would prefer to live in California,"if they did not live in the state where they are now." California tops the list for the sixth consecutive year, followed by Florida at second and Hawaii placed third. Weather in each state appeared to be a significant factor in the poll. When asked which city they would like to live in or near, San Francisco ranked third, San Diego and Seattle tied for fifth and LA ranked 15th.  http://headlines.ocregister.com/articles/california-46125-live-harris.html

CA Home Prices Forecast to Rise

California home prices are projected to rise by 3.3%  through 2010. High-end priced homes have not experienced significant price adjustments like lower priced homes. (California Association of Realtors, Oct 2, 2009)

Home Sale Volume Up in Laguna Beach

The number of sales in Laguna Beach are up 47.6 % over the same 30-day period in 2008 according to the OC Register, Oct.2, 2009.

    Poster by Bill Atkins