Usually Labor Day marks a spike in layoffs as companies try to help their budgets but this year it appears that most major downsizing is behind us. U.S. employers cut 711,100 jobs between January and April, which is the highest amount of jobs ever cut in the first four months of the year. Bet
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08/28/2009
The City Council of Fullerton has proclaimed today (Aug. 27) "Fred Willard Day" to recognize the comedian's contributions to charitable organizations and to the city's theater programs. Willard will be at Goodwin Field at Cal State Fullerton today when the Orange County Flyers salute the entert
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08/28/2009
The FDIC is looking for more buyers to purchase troubled banks. Yesterday they announced that private-equity investors buying a failed bank will need to maintain that banks Tier 1 capital ration at 10 percent, down from the 15 percent proposed last month. The FDIC chairman sent out a press rel
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08/27/2009
The real estate and finance industry in Orange County is seeing little improvement in the job market. For the month of July local real estate and finance business employed 20,600 less workers than a year ago making it the 20th straight month for annualized drops of 20,000 or more. The peak for r
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08/27/2009
Orange County residents are keeping up with their credit cards. Many borrowers are no longer able to swap credit card debit for greater debt against their home so the drop in average credit card debt shows that people are being more responsible with their money. The ratio of credit-card bills
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08/27/2009
The majority of home loans in the US are sold to Fannie Mae and Freddie Mac, who now require borrowers to put down 20% or more of the purchase price of a home or pay for mortgage insurance. Now there is a fear that there is not enough mortgage insurance available. Current Government constraints
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08/27/2009
There is a growth in optimism throughout California realtors according to a recent online survey. Out of the California realtors polled in Q#, 34% think that home values will increase in the next six months compared to 9% that believed that home values would increase in Q1. 28% of those realtors
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08/27/2009
Orange County hotels are finding 1-in-4 rooms are going empty even with the various deals being offered. Vacancies hit 25% in June with South County having the highest vacancy rate (34.6%) Throughout Orange County, hotel rooms averaged $136.32 a night, down 14.6% from June 2008. Despite deep di
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08/27/2009
In the state of California the total value of property assessed by counties and the state fell $107 billion to $4.448 trillion for 2009-2010, which is a decrease of 2.4% from the previous year. This is the first year-to-year decline statewide since the Board of Equalization began keeping record
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08/25/2009
The California Credit Union League released their forecast for the housing market. They see some stabilization coming in late 2009 with an increase of home sales especially in the lower priced segment of the market. The CCUL expects the median home price to increase by 8% in early 2010 through
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08/25/2009
