House and Senate pass broad-based Housing Legislation - 07/31/08 02:08 PM
The House and Senate passed broad-based housing legislation, which was signed into law by President Bush this morning. Heralded as the most sweeping housing reform since the "New Deal", it includes the creation of a strong regulator for Fannie Mae and Freddie Mac, changes in conforming and FHA loan limits, a … (0 comments)
Laguna Niguel purchases property for Permanent City Hall - 07/30/08 02:59 PM
The City of Laguna Niguel has purchased property from the County of Orange for a permanent City Hall. The City has leased office space for City hall in a building on La Paz Road since incorporation in 1989. The City currently leases approximately 25,000 square feet of office space, … (0 comments)
Orange County Median Home Sales Price Drops Drastically - 07/28/08 02:34 PM
For the 22 buisness days ending July 9, Orange County home sales decreased 1.7 percent. The median sales prices fell 26.6 percent. The median is where half the homes sold for more and half for less. Types of homes selling, as well as home value changes cause the median to change.
In … (0 comments)
Mortgage Rates Rise for Multiple Reasons - 07/28/08 01:57 PM
Motagage Interest rates took a huge leap last week. There isn't a single explanation for the rise.
Mortgage rates are being pulled and push by various forces: increasing inflation, all around tighter lending guidelines, a loss of confidence in Fannie Mac and Freddie Mac, and an upcoming election that makes politicians want … (0 comments)
Orange County Real Estate Activity for April, May, & June of this Year - 07/25/08 08:04 PM
In mid April of this year, Laguna Beach had 22 homes in escrow, 332 active listings, and 17 homes closing in escrow at the end of the month. San Clemente had 96 homes in escrow during April of this year, along with 558 active listings and 51 homes closing in escrow … (0 comments)
South Orange County Real Estate Activity - 07/24/08 02:38 PM
This week Aliso Viejo has 147 homes in escrow, that is 17 more than it had last week and the highest in South Orange County. San Clemente follows in second with 111 homes in escrow, just 3 less than they had the previous week. San Clemente also takes the lead with … (0 comments)
Existing-Home Sales in United States Tumbled 2.6% in June - 07/24/08 11:55 AM
According to the National Association of Realtors (NAR), existing-home sales resumed falling in June, sliding 2.6% from May across the country. The median home price was $215,100 in June, down 6.1% from $229,000 in June 2007. The median home price in May this year was $207,900. Home inventories also rose 0.2% … (0 comments)
Important housing bill to help ease Foreclosures heads to Senate - 07/24/08 11:53 AM
This Wednesday, the House approved a sweeping plan to ease the country's most serious housing crisis since the Great Depression. How do they plan to do so? By providing aid to homeowners facing foreclosure and a federal backstop for struggling mortgage giants Fannie Mae and Freddie Mac.
Despite President Bush's opposition … (0 comments)
Orange County June Jobless Rate Rises - 07/23/08 11:44 AM
In June, the economic downturn hit Orange County workers. On Friday, the state Employment Development Department reported the local unemployment rate jumped 5.2 percent, the highest in five years. Just a year ago, local unemployment was just 4 percent.
Unemployment hasn't been this high in Orange County since July 2003, … (0 comments)
Summer Sports in Laguna Niguel - 07/22/08 02:36 PM
Looking to have some fun in the sun? Well here is your chance!
Laguna Niguel's recreation department is hosting a summer sports program. With activities such as dodge ball, Frisbee football, mini-basketball and board games, you will have plenty of options to choose from. The summer sports program takes place … (0 comments)
The Beach Boys play Coto De Caza Golf Club - 07/22/08 02:06 PM
The Beach Boys are back in action!
This Friday, July 25, The Beach Boys will be performing at the Coto De Caza Raquet and Golf Club. The golf club gates will open at 6 p.m. for a preconcert party. The Beach Boys will hit the stage at 8 p.m. on the center … (0 comments)
Bye Bye "Liar Loans" - 07/21/08 02:55 PM
The federal government has stepped in and put its foot down. Lenders are no longer allowed to grant subprime mortgage unless there is proof you are able to repay it! This includes those jumbo mortgages too.
For a while, verifying a borrower's ability to pay was out of fashion. Now, the Federal Reserve has banned … (0 comments)
Mission Viejo High School Gives back to the Community - 07/18/08 03:47 PM
On July 19 the Mission Viejo Football team is planning a 5k run/walk to support their program, "On a Mission to Find a Cure." The walk will take place at Great Parks Neighborhood, formerly the El Toro Marine Corps Air Station at 8 a.m.
The Mission Viejo football team … (0 comments)
Lenders are slamming the door on home equity lines of credit - 07/18/08 02:01 AM
Lenders have reduced home equity lines of credit in areas of declining home prices, such as Orange County. Lenders are trying to reduce their exposure to potential loan losses. The percentage of those lines of credit that are more than 30 days past due rose to 1.10 percent during the first … (2 comments)
Aliso Viejo Boys and Girls Club needs your help - 07/17/08 05:19 PM
Are you looking for a way to give back to the community? The Aliso Viejo Boys and Girls Club was selected by Mervyns to participate in its Care Program. The program will be going on July 19th at the Laguna Niguel Mervyns from 7 to 10 a.m. Volunteers are needed and welcomed! … (0 comments)
OC Home prices post first monthly gain since 2007 - 07/17/08 04:48 PM
The median price of an Orange County home rose 2 percent from May, to $495,000, according to DataQuick. Though a modest increase, it's the first time the price has risen month-to-month since November of 2007. In perspective, the median selling price fell 23.3 percent from the previous June, a $150,000 drop … (0 comments)
Mortgage Default Warning Bill passes in California Senate -SB1137 - 07/07/08 08:32 AM
The California legislature have passed their first major bill for home owners in CA on Wednesday July 2nd 2008. The legislation, which passed on a 32-8 vote, this new bill, "The Perata Bill", would require lenders to give homeowners more -- and earlier -- warnings that their home loans were heading … (0 comments)
Orange County Median Price Home Under $500,000 for first time since 2004 - 07/06/08 11:34 AM
The Orange County median price for a home has dropped under $500,000 for the first time since 2004. The four week average median price is currently $495,000 and that is down $143,750 or -22.50% from a year ago. The good news with that statistic is that home payments dropped $527.22 or 17.23% on … (0 comments)
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The House and Senate passed broad-based housing legislation, which was signed into law by President Bush this morning. Heralded as the most sweeping housing reform since the "New Deal", it includes the creation of a strong regulator for Fannie Mae and Freddie Mac, changes in conforming and FHA loan limits, a … (0 comments)
