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By , June 19, 2010 8:16 pm

The Brea real estate market, a portion of the larger Orange County real estate market, continued to have serious problems with mortgage delinquency and foreclosure despite relatively stable housing prices. According to a June 7, 2010 article from the Orange County Register, “According to CoreLogic’s latest late-mortgage report, 8.40% of Orange County home-loan borrowers as of April are 90 days-plus late with their house payments. That’s +2.60 percentage points vs. a year ago.” The piece, written by Jon Lansner, continued to state that “2.37% of Orange County homes were in the foreclosure process, +0.15 percentage points vs. a year earlier. 0.35% of Orange County homes were repossessed by banks as REO (real estate owned); -0.10 percentage points vs. a year earlier. Orange County’s 90-day delinquency rate is -3.20 percentage points vs. the state’s slow-pay rate and -0.50 percentage points vs. national pace.”

The average sales price of a Brea home for sale rallied along with the rest of Orange County in the month of April. According to a May 18, 2010 piece from the OC Metro, “Orange County saw gains in its median home price and sales activity in April, compared to the same time last year, according to a new report from MDA DataQuick.” The article, written by Kristen Schott, went on to state that “The county’s median home price hit $430,000 last month, up 13 percent from $380,000 in April 2009. But, the price dipped slightly from March, when the median reached $432,000. For the six-county Southern California region, which includes Orange, L.A., San Diego, Riverside, San Bernardino and Ventura, the median rose 15 percent to $285,000 in the period, compared to April 2009. The number was unchanged from March.”

Compared to last month, however, the median home price in the Brea and Orange County real estate markets, declined slightly. According to a May 18, 2010 article in the Orange County Business Journal, “Orange County’s median home price edged down $2,000 in April from March, but still stands $50,000 higher than the prices seen here a year ago. The median price of a home sold here in April was $430,000, a less than 1% drop from a month earlier, according to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald Detwiller and Associates.”

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By , June 18, 2010 8:12 pm

The Rancho Santa Fe real estate market, a part of the larger San Diego and Southern California housing markets, showed some signs of recovery and a few specific strengths in the first half of 2010. According to a May 17, 2010 article from the San Diego Union Tribune, “Southern California home prices remained flat from March to April, as sales shifted into May for tax-credit reasons, MDA DataQuick reported Tuesday. The median price for the six-county region was $285,000, an increase of 15.4 percent from April 2009.” The piece by Roger Showley went on to say that “As reported Monday, San Diego County’s median price slipped to $325,250, from $330,000 in March, but was up 12.2 percent from April 2009’s $290,000. Prices followed the same pattern in Orange, Riverside and San Bernardino counties – down from March but up from April 2009.”

A May 27, 2010 article in SDNN focused on the continued year-over-year rise in Rancho Santa Fe and other San Diego homes for sale. The piece noted that “In this volatile – and frequently gloomy – housing market, San Diego stands out as a metropolitan city with continued home prices, says a Standard and Poor’s/Case-Shiller Home Price Index released Tuesday.” The article, composed by Anne Subramanian, went on to state that “The study highlighted that despite many metropolitan cities reporting new index lows, San Diego boasts an eleven-month streak of increasing home prices. Of the 20 national metropolitan cities studied, San Diego’s 10.8 percent increase in home prices since March 2009 is only surpassed by San Francisco’s 16.2 percent increase. Housing prices climbed by 1.5 percent in San Diego between February and March of this year while the national trend reflects a .5 percent decrease.”

This same positive news for the previously ailing Rancho Santa Fe housing market was reported in a May 25, 2010 article from The Voice of San Diego. This article by Kelly Bennett went on to note that “There’s no doubt housing prices have come roaring back this year. New numbers released this morning showed San Diego County home prices rose again in March – marking the 11^th straight month they’ve been headed up.”

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By , May 6, 2010 2:17 am

The Beverly Hills real estate market, traditionally among the most expensive and prestigious in the country, has been recovering strongly from the aftermath of the economic recession. According to an April 13, 2010 article in the Associated Press, “The median home price in Southern California rose 14 percent last month from March 2009, as more high-end homes trickled into the region’s sales mix, a tracking firm said Tuesday. San Diego-based MDA DataQuick reported that last month’s median of $285,000 was up from $250,000 in March 2009 and up almost 4 percent from February’s $275,000.” The article, written by Jacob Adelman, continued to state that “DataQuick President John Walsh said the increases showed that the market was continuing on a slow, upward trajectory, but that sales still remain well below their March average of around 25,000.”

Foreclosures, which have recently been a problem for Beverly Hills homes for sale, have sharply declined in recent months. According to an April 20, 2010 article in the Press Telegram, “The number of Los Angeles County homes slipping toward foreclosure dropped by 43.5 percent in the first quarter of the year, compared to the same period in 2009, a real estate information service reported today. Lenders sent default notices to 15,797 homeowners in Los Angeles County in the first quarter, down from the previous year’s first-quarter total of 27,981, according to La Jolla-based MDA DataQuick.” The piece continued to note that “Statewide, default notices were sent to 81,054 homeowners in the first quarter of the year, DataQuick reported. That was a 4.2 percent decrease from the previous quarter’s 84,568 notices and down 40.2 percent from the same quarter in 2009, when 135,431 default notices were sent.”

This same general trend of positive news for Beverly Hills real estate was echoed by an April 16, 2010 article in the Los Angeles Times. This piece, noted by Alejandro Lazo, found that “The median price paid for a California home in March jumped 14.3% compared with the same month last year, reflecting a reduction in the number of foreclosure properties on the market and the comeback of higher-priced coastal areas.”