A big article appeared in The Orange County Register this morning on US Index showing signs of stabilizing It maybe true, I hope it is. The Case-Shiller 20 city index for May posted its first monthly increase since 2006.
However, the greater Los Angeles area includes Orange County and we showed a .1 percent decrease from previous mohth. We were hit harder than a lot of other areas of the country due to the risky loans that the buyers have and had. Those will still have to work their way thru the market so we may not recover as fast as other areas.
We will be watching and let you know as the market changes.
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