Freddie Mac estimates that sales of new and existing homes will increase by 11 percent from the second quarter. Attorney General Jerry Brown reports that an Orange County loan officer has been arrested for $30 million dollars worth of fraudulent loans. A report from Altera Real Estate shows that million dollar homes in Dana Point, Laguna Beach and San Clemente are losing value. Fraud arrests continue with detention of loan officer. Tonight is also our I Survived Real Estate 2009 event being aired online live from The Business Press. We are very excited to have the panel of experts join us.
Orange County Register – “O.C. homebuying surge nears 14th month” (9-11-09)
“It looks like August will be 14th straight month of sales gains vs. the year-ago period. That follows 33 consecutive months where sales failed to beat the previous years pace. “
Orange County Register – “O.C. property tax fights up 23%” (9-11-09)
“With the deadline to file an appeal less than a week off, the number of Orange County property owners disputing their taxes jumped 23% this year, the county Clerk of the Board of Supervisors reports.”
Orange County Register – “O.C. loan officer arrested in $30 million fraud” (9-11-09)
“Attorney General Jerry Brown said today his office arrested a Huntington Beach loan officer and two other men for allegedly placing consumers into $30 million worth of fraudulent loans and pocketing $1 million in illicit profits.”
Orange County Register – “Inventory drops in south coast cities, prices come down” (9-11-09)
“68 homes priced at $1 million or higher have seen price reductions in the past two weeks in Dana Point, Laguna Beach and San Clemente combined. This is most likely due to a drop in inventory in all three beach communities, which incidentally drove the average active list price up in at least Laguna Beach, according to a recent biweekly report by Steven Thomas of Altera Real Estate.”
Inman – “MSN, AOL real estate sites get traction” (9-11-09)
“MSN Real Estate leaped four positions to break into a list of the top 10 most popular real estate Web sites in August, while AOL Real Estate and mlsfinder.com climbed into the top 20.
Bruce Norris has been invited to speak both at a REOMac conference in Florida and is also participating in an upcoming Builder Industry Show in November. More details are coming about that event at www.buildingindustryshow.com. The theme will eb collaboration and looks like there will be a very nice line up from several industries.