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        <title>Real Estate Blog</title>
        <link>http://www.youragentgreg.com/blog/</link>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-fullerton-joint-union-high-school-district.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-fullerton-joint-union-high-school-district.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts - Fullerton Joint Union High School District</title>
            <description> <![CDATA[ 
Found this press release for our high school district.


 


NEW YORK--(BUSINESS WIRE)--May 22, 2013-- Fitch Ratings has affirmed the following ratings for Fullerton Joint Union High School District (the district):--$1.7 million series 2002A general obligation (GO) bonds at 'AA+';--$22.3 million certificates of participation (COPs) at 'AA';The Rating Outlook is revised to Stable from Negative.SECURITYThe GO bonds are secured by an unlimited ad valorem tax on all taxable property within the district.The district has pledged to include all lease payments for the COPs in its annual budgets and to make lease payments from all sources of available funds. The district also pledges to maintain 24 months rental interruption insurance and maintains a cash-funded debt service reserve.


 


http://online.wsj.com/article/PR-CO-20130522-912117.html?mod=googlenews_wsj#


 


 


Tony LeocadioPrudential California Realty714-673-7363www.agentx2.comwww.fullertonhomesearch.comwww.youragentgreg.comwww.tonyleocadio.com
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            <pubDate>Fri, 24 May 2013 10:46:53 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-labor-shortage-biggest-hurdle-for-homebuilders.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-labor-shortage-biggest-hurdle-for-homebuilders.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts-Labor Shortage Biggest Hurdle for Homebuilders</title>
            <description> <![CDATA[ 


Though residential construction “is keeping the economy on an expansionary path,” Moody’s Analytics suggests in its latest “ResiLandscape” report that homebuilders are having a tough time shouldering the burden of growth on their own.





In its analysis, Moody’s echoed two of the most common concerns voiced by builders today: lack of labor and rising building costs.


“Homebuilders are finding it difficult to rebuild the industry and, in particular, to find skilled labor,” wrote Celia Chen, senior director of economic research at Moody’s. “The Great Recession decimated the homebuilding industry, with a 42 percent decline in residential construction jobs from peak to trough, a loss of 1.4 million jobs. To date, only 8 percent of these jobs have come back.”


Chen explained that many jobless construction workers went on to other industries or relocated to other regions, while many immigrants (who make up a large share of the construction labor force) elected to return to their home countries.






Adding to the problem is the fact that earnings improvements for residential construction workers have proceeded at an annualized pace of only 0.5 percent compared with the 2.4 percent average for all private employees.


The other major problem for builders—inflating construction costs—is more “manageable,” Chen says. While prices for structural panel and framing lumber have run up 52 percent year-over-year, total input inflation is more modest, with the homebuilding producer price rising at a 2 percent pace. In addition, with new home appreciation rising at a faster rate than construction costs, builders are able to pass the cost along.


“Furthermore, input cost inflation will moderate as rising prices and the prospect of stronger homebuilding encourage building material suppliers to bring shuttered plants back on line,” Chen went on. “Expansion is already starting. Employment in veneer, plywood and engineered wood, for example, is up nearly 7 percent above this time last year.


While capacity constraints may weaken the homebuilding sector—and thus, housing as a whole—there is one upside, Chen noted: price growth.


“To be sure, it may be too soon to see the full force of rising costs and labor constraints in the reported data. Furthermore, the national data may obscure tight conditions in regional markets, for which little construction industry specific data are available. Also, frictions that may occur in hiring and in ramping up factories may slow the pace of homebuilding below expectations,” she wrote. “In this case, fewer homes would be built over the next couple of years than in our baseline forecast, and the consequent tighter supply would result in stronger than expected house price appreciation.” 


 


Tony Leocadio


Prudential California Realty


714-673-7363


email- Tony@Agentx2.comm


www.agentx2.com


www.tonyleocadio.com


www.fullertonhomesearch.com


www.breahomesearch.com


www,yorbalindahomesearch.com


www.placentiahomesearch.com


www.youragentgreg.com


 


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            <pubDate>Thu, 23 May 2013 09:55:11 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts7.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts7.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts- </title>
            <description> <![CDATA[ 
 May 14, 2013  Realtor.com®, the leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), released its April data showing that the U.S. housing market is on its way to a broad-based recovery, an accelerated trend since March. The home buying season shifted into high gear last month as inventory and home list prices on realtor.com® increased by 4.12 percent and 2.63 percent, month over month, respectively. As of April, homes are on the market nationwide approximately 81 days—a decrease of nearly 11 percent since April 2012—highlighting that while new homes are entering the market they are not available for long.


"Due to increased demand for homes and more confidence in the job market – we are beginning to see more and more buyers entering the housing market," said Steve Berkowitz, chief executive officer of Move. "Home buying season is off to a strong start, as buyers capitalize on moderate housing prices and snatch up homes quickly.  In some markets, we are seeing homes staying on the market for only a few weeks."


Despite the increase in inventory month over month, nationwide inventory declined year over year in all but 11 of the 146 markets realtor.com® monitors. Approximately 36 markets registered a decrease of listings by 20 percent or more, still highlighting near records lows of available homes.


Approximately 37 markets experienced a decline in list price since last year, a figure that has been improving throughout the home buying season. The number of markets throughout the nation experiencing a steady or slight decline in median list prices is decreasing throughout the home buying season, another positive signal for the overall housing market recovery. In April, median list prices increased in 109 markets.


National Data




In April, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,750,839) increased by 4.12 percent month-over-month. On an annual basis, however, inventory decreased by 13.54 percent.  


The national median list price for single-family homes, condos, townhomes and co-ops ($194,900) increased by 2.63 percent vs. March, and 3.12 percent since April last year.


The median age of inventory of for sale listings (81) fell by nearly 11 percent in comparison to April last year.  




Local Data




Only seven markets throughout the nation experienced a one percent or greater year on year increase in housing inventory since April 2012. The Shreveport-Bossier City, LA market lead the pack with an increase of inventory of 19.16 percent since April last year. Springfield, IL; Huntsville, AL; Ocala, FL; El Paso, TX; Albuquerque, NM and Little Rock-North Little Rock, AR markets followed, respectively.






California continues to dominate the top 10 list of markets with the largest increase in median list price throughout the nation—only two regions in the list fall outside of California. These markets were hit the strongest by the housing crisis and are showing a great rebound as the housing recovery picks up steam. Oakland experienced the largest year over year increase in list price at 46.94 percent. The Santa Barbara-Santa Maria-Lompoc, CA market followed at 44.81 percent. Sacramento, CA; San Jose, CA; Los Angeles-Long Beach, CA; Orange County, CA; Detroit, MI; Ventura, CA; Fresno, CA; and Phoenix-Mesa, AZ rounded out the top markets with the largest increases in list prices in the nation.






Oakland continues to lead the nation with the shortest median age of inventory (15 days). San Jose, CA; San Francisco, CA; Denver, CO; Seattle-Bellevue-Everett, WA; Anchorage, AK; Washington, DC-MD, VA-WV (DC); Orange County, CA; Sacramento CA; and Washington, DC-MD-VA-WV (VA) follow, respectively. Homes in these areas stayed on the market an average 32 days, down 40 percent compared to last year.




Tony Leocadio


Prudential California Realty


714-673-7363


email Tony@Agentx2.com


www.agentx2.com


www.fullertonhomesearch.com


www.tonyleocadio.com


www.breahomesearch.com


www.yorbalindahomesearch.com


www.placentiahomesearch.com


www.youragentgreg.com
 ]]> </description>
            <pubDate>Wed, 22 May 2013 22:47:22 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-mortgage-rates-projected-to-increase-infographic.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-mortgage-rates-projected-to-increase-infographic.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts - Mortgage Rates Projected to Increase (infographic)</title>
            <description> <![CDATA[ 
The Mortgage Bankers Association, Fannie Mae and the National Association of Realtors have all projected that the 30-year mortgage rate will be at least 4% by the end of 2013. If we assume that rates will still be at 4% in twelve months, here is the difference a buyer will pay if they wait.


 





 


Tony LeocadioPrudential California Realty714-673-7363www.agentx2.comwww.fullertonhomesearch.comwww.youragentgreg.comwww.tonyleocadio.com
 ]]> </description>
            <pubDate>Wed, 22 May 2013 18:24:15 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-existin-home-sales-remain-below-demand.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-existin-home-sales-remain-below-demand.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts - Existin Home Sales remain below Demand</title>
            <description> <![CDATA[ 
After falling in March, existing-home sales increased in April, although they were still not enough to meet underlying demand due to limited inventory and tight credit, reports the National Association of Realtors. All regions recorded year-over-year price gains."The powerful combination of all-time low mortgage rates and home prices that were significantly reduced after the housing crisis is fueling demand," says Quicken Loans Chief Economist. "It’s quite likely that we will look back on this period as being among the best times in history to purchase a home. As the economy continues to firm, the likelihood that interest rates will rise increases and home prices will continue their upward climb as well."In April, existing-home sales — completed transactions that include single-family homes, townhomes, condominiums and co-ops — rose 0.6% to a seasonally adjusted rate of 4.97 million from an upwardly revised 4.94 million in March. April’s numbers are up 9.7% from the 4.53 million-unit level in April 2012.NAR chief economist, said the market recovery is solid. "The robust housing market recovery is occurring in spite of tight access to credit and limited inventory. Without these frictions, existing-home sales easily would be well above the 5-million unit pace," he said.Buyer traffic is 31% stronger than a year ago, according to Yun, but sales are running only about 10% higher. "It’s become quite clear that the only way to tame price growth to a manageable, healthy pace is higher levels of new home construction," he said.Existing-home sales are hovering at the highest pace since November 2009, when the market saw 5.44 million sales in response to the homebuyer tax credit. This marks the 22nd straight month of year-over-year sales gains and the 14th consecutive month of year-over-year price increases.Inventory inched up slowly to 2.16 million existing homes available for sale. This represents a 5.2-month supply at the current sales pace versus 4.7 months in March.


 


 


Tony LeocadioPrudential California Realty714-673-7363www.agentx2.comwww.fullertonhomesearch.comwww.youragentgreg.comwww.tonyleocadio.com
 ]]> </description>
            <pubDate>Wed, 22 May 2013 17:25:17 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-foreclosures-drop.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-foreclosures-drop.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts - Foreclosures Drop</title>
            <description> <![CDATA[ 
The number of Americans in the foreclosure process plummeted by nearly 25% in the past year, according to Lender Processing Services First Look mortgage report for April.The total delinquency rate for loans 30 days or more past due, but not yet in foreclosure, also fell below 6.5% for the first time since July of 2008.The total number of homeowners who are either delinquent or in foreclosure maintained its downward trajectory, reaching 4.7 million in April, LPS Applied Analytics noted. Currently, 6.21% of loans surveyed by LPS are classified as 30-days past due, but not in foreclosure. The delinquency rate is down 5.81% from the prior month and 9.61% from year ago levels.The total U.S. foreclosure pre-sale inventory rate hit 3.17% in April, down 24.55% from year ago levels.Overall, 3.1 million properties are more than 30 days delinquent.States with the highest percentage of non-current mortgages include Florida, New Jersey, Mississippi, Nevada and New York.


 


 


Tony LeocadioPrudential California Realty714-673-7363www.agentx2.comwww.fullertonhomesearch.comwww.youragentgreg.comwww.tonyleocadio.com
 ]]> </description>
            <pubDate>Wed, 22 May 2013 10:53:26 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-sale-to-list-price-ratios-climbing-as-bidding-wars-rage.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-sale-to-list-price-ratios-climbing-as-bidding-wars-rage.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts-Sale-to-List Price Ratios Climbing as Bidding Wars Rage</title>
            <description> <![CDATA[ 


Last year, some analysts were speculating the large supply of REOs and shadow inventory would keep the market depressed, but instead, the market is dealing with a lack of inventory available for sale, Pro Teck Valuation Services noted in its May Home Value Forecast (HVF). 





“[I]n reality the shortage of housing inventory has led buyers to bid more competitively against one another leading to significant home price increases and tighter housing conditions,” said Tom O’Grady, CEO of Pro Teck. “Aside from anecdotal stories, Home Value Forecast shows that one of the most reliable leading indicators to support this theory is the Sold-To-List Price ratio.”   


According to the report authors, the sold-to-list price ratio tends to land somewhere in the range of 92 and 98 percent, but in high demand markets, the ratio can exceed 100 percent. 


For example, in the San Francisco Bay area, nearly all ZIP codes showed sold-to-list-price-ratios close to or above 100 percent, confirming stories of bidding wars, according to Pro Teck’s analysis,  On the other hand, the Chicago area’s sold-to-list-price-ratio pointed to more normal conditions, with much fewer ZIP codes with ratios close to or above 100 percent. 


“The Sold-to-Listed Price Ratio has historically led home prices by approximately six months over the past three real estate cycles and its turning points have been excellent signals for the same in condo prices,” added O’Grady. 






As always, the HVF provided a list of the month’s 10 best and worst performing markets out of 200 Core Based Statistical Areas (CBSAs) based on factors such as sales/listing activity and prices, months of remaining inventory (MRI), days on market (DOM), sold-to-list price ratio, and foreclosure and REO activity.


Michael Sklarz noted two of the top markets are in Nevada, while California continues to be well represented on the list. 


The authors also pointed out that several of the top markets from late last year fell off the list since their year-over-year sales counts are down due to a lack of inventory. 


“The bottom ranked metros also represent an interesting mix around the U.S. While all have nine to thirteen Months of Remaining Inventory, many of the indicators are showing positive trends even for the bottom metros area this month,” added Sklarz.


 


Tony Leocadio


Prudential California Realty


714-673-7363


email- Tony@Agentx2.com


www.agentx2.com


www.tonyleocadio.com


www.fullertonhomesearch.com


www,placentiahomesearch.com


www.breahomesearch.com


www.YorbaLindahomesearch.com


www.youragentgreg.com


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            <pubDate>Wed, 22 May 2013 09:59:49 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-prices-sales-inventory-all-climb-in-april.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-prices-sales-inventory-all-climb-in-april.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts-Prices, Sales, Inventory All Climb in April</title>
            <description> <![CDATA[ 


The housing market came out of April in a particularly strong position, according to Redfin’s latest with prices, sales, and inventory posting gains across the country.





Redfin’s monthly report—based on home prices, sales, and inventory 
across 19 U.S. markets—shows prices rose 4.9 percent in April on a 
monthly basis and 16.1 percent on a yearly basis. Out of the 19 metros 
measured in Redfin’s report, 18 reported month-over-month increases in 
April, the same number as in March. All metros experienced price 
increases on a year-over-year basis.


San Francisco, Sacramento, and Las Vegas saw the biggest 
year-over-year price gains, improving 34.5 percent, 33.5 percent, and 
31.6 percent, respectively. 


“The housing market across the nation was hot again in April. Yes, 
home prices are up. But the big story in this month’s report is that 
inventory posted its largest month- 






over-month increase in over three years,” wrote Redfin blogger Tim 
Ellis. “With more homes finally available to buy, home sales posted 
their strongest March to April gain since 2009.”


According to the brokerage, April home sales rose 7.2 percent over 
March and 10.7 percent over April 2012, returning to double-digit yearly
 gains. While last month’s figures were promising, Ellis noted last May 
was especially strong for sales, “so it is possible that this number may
 slip some … with year-over-year sales going slightly negative.”


Fifteen of the 19 markets tracked saw sales increase from a year ago, five more than in March.


Meanwhile, the number of homes for sale increased 6.4 percent from 
March to April (the biggest monthly gain since March 2010), with only 
three markets reporting declines from month to month. On a yearly basis,
 inventory was still down 26.2 percent.

released in the same week, also pointed to a monthly rise in inventory as a potential sign of a comeback in supply.

The percentage of listings that were under contract within 14 days 
of debut inched up again in Redfin’s survey, climbing 70 basis points to
 35.2 percent—another record high in that category. The company predicts
 that number will level off through the summer.


“The market is as competitive as ever with more than a third of 
homes going under contract in two weeks or less, but there may be light 
at the end of the tunnel for buyers with the solid gains in inventory,” 
Ellis wrote.


 


Tony Leocadio


Prudential California Realty


714-673-7363


email- Tony@Agentx2.com


www.tonyleocadio.com


www.agentx2.com


www.youragentgreg.com


www.fullertonhomesearch.com


 


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            <pubDate>Tue, 21 May 2013 13:35:28 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-market-update-for-may-20th.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-market-update-for-may-20th.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts - Market Update for May 20th</title>
            <description> <![CDATA[ 
Given the week's mostly disappointing economic data, it was hard to believe the bulls prevailed on Wall Street again, pushing stocks to their fourth weekly gain in a row with the Dow and the S&amp;P 500 indexes setting new records. To be fair, the bulls did have some decent reports on which to base their enthusiasm. April Retail Sales, Building Permits, and Leading Economic Indicators all surprised to the upside. The Michigan Consumer Sentiment index for May also handily beat estimates.However, a plethora of indicators headed to the downside, starting with weak readings for April Industrial Production and the New York Empire Manufacturing Index for May. The disappointing economic news continued with higher than expected Initial Unemployment Claims, a dip in Housing Starts, and a lower than expected Philadelphia Fed Index of manufacturing for that region. But the CPI reading for April showed that consumer price inflation is staying well under control.


 


 


Tony LeocadioPrudential California Realty714-673-7363www.agentx2.comwww.fullertonhomesearch.comwww.youragentgreg.comwww.tonyleocadio.com
 ]]> </description>
            <pubDate>Tue, 21 May 2013 11:06:37 -0500</pubDate>
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            <guid>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-time-to-remain-optimistic.html</guid>
            <link>http://www.youragentgreg.com/blog/orange-county-real-estate-thoughts-time-to-remain-optimistic.html</link>
            <author>tleocadio@sbcglobal.net (Tony Leocadio)</author>
            <title>Orange County Real Estate Thoughts - Time to Remain Optimistic</title>
            <description> <![CDATA[ 
It definitely takes guts to remain optimistic in the face of some of the housing data coming at us these days. Last week, for example, we were greeted with a 16.5% drop in Housing Starts for April. It helps to dig into these reports. The dip was mostly due to multi-family starts, which are very volatile month to month, and were down 38.9%. Turns out, single-family starts were off just 2.1%. Taking a long-term view helps even more. Starts overall are up 13.1% versus a year ago, with single-family starts up a healthy 20.8%. So there.It didn't take any effort at all to stay optimistic in the face of the April Building Permits report. New building permits rose 14.3% during the month to a 1.02 million annual rate. Permits for single-family homes are now up 27.5% over a year ago, and multi-family permits are up a whopping 50.9%. An analysis of U.S. Department of Housing and Urban Development data revealed that 64% of building permits issued in the first quarter of this year were for single-family homes. And they were at the highest level since Q1 of 2008.


 


 


Tony LeocadioPrudential California Realty714-673-7363www.agentx2.comwww.fullertonhomesearch.comwww.youragentgreg.comwww.tonyleocadio.com
 ]]> </description>
            <pubDate>Tue, 21 May 2013 11:01:47 -0500</pubDate>
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