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orange county: Jobs in California will Drive Apartment Demand
- 10/27/09 07:46 AM
Orange County Faring Better than Neighbors
Orange County is faring better than its neighboring counties with respect to joblessness dropping from 9.8% in August to 9.4% in September according to recent reporting by the California Employment Development Department. Orange County is the only southern California county in the single digit category, while statewide the unemployment rate dipped from 12.3% in August to 12.2% in September. There is little good news, but this is a step in the right direction. Neighboring counties posted the following: San Diego 10.2%; Ventura, 11%; Los Angeles, 12.7%; San Bernardino, 13.6%; and Riverside, 14.7%. How … (3 comments)
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orange county: Longer Escrows are the New Norm for Apartment Transactions
- 08/26/09 05:07 AM
Want to close your next apartment transaction in 30 days? It's not going to happen.
Sellers and seller's brokers are realizing that the time frame for closing apartment transactions is taking much longer. In the last two years I have seen a constant stream of delays by lenders, which have resulted in escrow extensions or cancelled contracts.
What used to take 45 days to close a commercial transaction is now taking 60-90 days. Most Fannie and Freddie lenders will tell you upfront, expect 90 days. Commercial lenders are saying 60 days.
In harder hit apartment markets such as Inland Empire … (0 comments)
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orange county: Mass Transit and Real Estate Investment -- retail, apartment, condo, and senior housing. Innovation in the last 1/4 mile for mass transit is critical.
- 08/16/09 10:33 AM
As I read the article in today’s Orange County Register, “New Boss rides the rails to OCTA” I wondered, “Same old status quo or new direction with innovation?” The article welcomes Will Kempton, the new chief of the OCTA. Tough job ahead and he needs the support of the business and residential community alike. One-half of the article was devoted to his pay, which is not a good way to welcome him. Why not discuss more about his past credentials, success, and what he accomplished with his former position as head of Caltrans?
I hope to see some bold statements and … (0 comments)
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