August 2012

Found 88 blog entries for August 2012.

Orange County's public school students made modest gains for the ninth straight year on a slew of standardized tests aimed at measuring how well they are learning math, English, science and social studies, according to figures released Friday.

Results of the California Standards Tests, or CST, show that about 66 percent of students countywide in grades two through 11 tested proficient or advanced in English, and 71 percent of students in grades two through seven passed in math. Last year, 63 percent passed in English and 70 percent passed in math.

Article Tab: Austyn Winchester (center) an eighth-grader at  C.E. Utt Middle School in Tustin, studies algebra in teams for an exercise in Barbara Valentine's algebra class in this 2010 file photo. Austyn Winchester (center) an eighth-grader at C.E. Utt Middle School in Tustin, studies algebra in teams for an exercise in Barbara Valentine's algebra class in this 2010 file photo. MICHAEL…
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ANAHEIM – Construction on a long-planned, major transportation hub is scheduled to begin next month now that the City Council has awarded a $127 million contract.

Clark Construction Group won the contract to build the Anaheim Regional Transportation Intermodal Center, or ARTIC, on 16 acres southeast of the 57 freeway and Katella Avenue.

Article Tab: Concept art shows what ARTIC will look like when it is completed in 2014. Concept art shows what ARTIC will look like when it is completed 

The center, which has been planned for about a decade, is designed to serve as a point for buses, taxis and rail, including possibly a high-speed train, within walking distance of Angel Stadium and Honda Center. About 5,000 construction jobs will be used for the project.

"It is a gateway to the entire county and the region," Councilwoman

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In a market where home sales are up 18 percent in a year, double-digit gains could be found in all four regions of Orange County.

 

That’s a key highlight of our study of how recent housing trends hit various corners of Orange County.For the 22 business days ending August 8 — freshest numbers from DataQuick — our region-by-region analysis of local real estate sales patterns saw Orange County homebuying slicing up by geography this way …

Priciest homes ever sold

 

  • Beach Towns: 623 homes sold in these ZIP codes in the most recent period, +29.5% from a year ago. This was largest year-to-year gain among the four regions. Median selling price? $634,000 in these 17 ZIPs. Median price change was +2.9% in a year. Beach Towns accounted for 20% of recent home sales vs. 19% a
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The latest federal guidelines streamlining short sales — set to go into effect on Nov. 1 — are getting favorable reactions from U.S. Realtors and an international credit rating agency.

Under the new guidelines:

  • Servicers will be able to more efficiently process short sales for borrowers with hardships, including those current on their mortgage payments.
  • Hardships would include the death of a borrower or co-borrower, divorce, disability, or job relocation, without the sale needing additional approval from Fannie Mae or Freddie Mac.
  • Fannie and Freddie will offer up to $6,000 to second lien holders, who’ve been known to slow down sales by negotiating for more money.
  • Military personnel who are relocated will be immediately eligible for a short sale
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In a market where home sales are up 18 percent in a year, double-digit gains could be found in all four regions of Orange County.

 

That’s a key highlight of our study of how recent housing trends hit various corners of Orange County. For the 22 business days ending August 8 — freshest numbers from DataQuick — our region-by-region analysis of local real estate sales patterns saw Orange County homebuying slicing up by geography this way …

 

Click for priciest homes sold

  • Beach Towns: 623 homes sold in these ZIP codes in the most recent period, +29.5% from a year ago. This was largest year-to-year gain among the four regions. Median selling price? $634,000 in these 17 ZIPs. Median price change was +2.9% in a year. Beach Towns accounted for 20%
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ORANGEAn estimated 400,000 people are expected to fill the streets of downtown Orange for the annual Orange International Street Fair, which begins Friday.

"The weather is supposed to be cooling off for the weekend," said Mike Winger, president of the Street Fair's board. "We're looking to have as many people as we did last year."

Article Tab: orange-fair-street-palate Orange International Street Fair goers were treated to a variety of tastes and tempting smells to tempt the palate in this file photo. The 2012 Street Fair runs from Friday, Aug. 31 to Sunday, Sept. 2 in downtown Orange. FILE PHOTO, THE ORANGE COUNTY REGISTER

Orange International Street Fair

What: Food from around the world, entertainment and family fun.

When: 5 p.m. to 10 p.m. on Friday and 10 a.m. to

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ORANGEAn estimated 400,000 people are expected to fill the streets of downtown Orange for the annual Orange International Street Fair, which begins Friday.

"The weather is supposed to be cooling off for the weekend," said Mike Winger, president of the Street Fair's board. "We're looking to have as many people as we did last year."

Article Tab: Orange International Street Fair goers were treated to a variety of  tastes and tempting smells to tempt the palate in this file photo. The 2010 Stree Fair runs from Friday, Aug. 31 to Sunday, Sept. 2 in downtown Orange. Orange International Street Fair goers were treated to a variety of tastes and tempting smells to tempt the palate in this file photo. The 2010 Stree Fair runs from Friday, Aug. 31 to Sunday, Sept. 2 in downtown Orange.

Orange International Street Fair

What: Food from around the world, entertainment and family fun.

When: 5 p.m. to 10 p.m. on Friday and 10 a.m. to 10 p.m. on Saturday and Sunday.

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The total number of sales for Orange County for the last full month available, was 3,124, not including trustee
sales auctions, where investors paid cash at the courthouse steps for 169 properties. There were 1,542 equity
sales, (non short), for single-family, and 506 equity sales for condos. The short sales numbered 371 for singlefamily
and 238 for condos. Bank owned listings sold nearly all that was listed with 304 single-family and 163
for condos. There were 1,294 Notices of Default recorded, down nearly 35%, and 987 Notices of Trustee Sale,
which has declined sharply from monthly highs of over 1,700 in 2011. The median price for all of Orange
County for all homes was $435,000 which is up 2.4% for year over year for last year at this time. The slight
increase

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This is a good question. Isn’t housing economics simply the law of supply and demand? And if it is, with inventory
so low, (and inventory is low, with the possibility that pending sales will rise above available homes for sale,
a true market anomaly), why aren’t prices rising more quickly right now? The answer to these questions may
not be obvious, but there are some reasonable answers. First of all we are in a counter-intuitive market. So what
would seem to be an obvious outcome is not, and in fact, the opposite occurs. In this case, prices are still going
down, despite some listings that sell over list price, in some price ranges or neighborhoods. Remember that the
list price was aggressively LOW, not HIGH, to begin with. And although historically low

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