“World's Most Complete Neighborpedia”
Explore:   What's happening in your neck of the woods?

Adam Brett - Fullerton, California Realtor

Oktoberfest Fundraiser Oct. 18th

The Fullerton College Foundation’s annual Oktoberfest celebration will take place on October 18th from 2 to 5 p.m.

fjc at the Fullerton Museum Center.

There will be entertainment, food and a raffle. The first place raffle price is a new Ford Mustang; second place is $1,000 and the third place prize is $500.

Raffle tickets are $25 each and can be purchased at www.mustangraffle.com and at the event.

All proceeds from the event go to the General Scholarship Fund for Fullerton College students.

O.C. Hotels In Trouble

16 hotels in Orange County and 307 statewide have been foreclosed upon or are in default of

hotel their loan obligations.

In January 9 hotels in Orange County closed compared to one the year before. Last month there were 1,823 rooms in default when there was only 238 last year.

Throughout the state hotels foreclosures are up 220%. The largest foreclosure in the state was the St. Regis in Dana Point.

Among the O.C. defaults: Extended Stay America Newport Beach; Extended Stay Anaheim; Extended Stay Orange; Extended Stay Lake Forest; Extended Stay Yorba Linda; Homestead Village Irvine; Homestead Village Cypress and Dana Marina Inn Motel, Dana Point

3 O.C. ZIPs See Sales Gains of 100% Or More In September

In the month of September 31 of O.C.’s ZIP codes had gains in their respective median selling price.

salesOverall prices were down -.02% compared to a year ago.

7 of the 83 O.C. ZIPs had median sales prices above $1 million in the period. 50 of the 83 O.C. ZIPs had year-over-year sales losses in the period. Overall countywide sales were down 5.4% compared to a year ago.

Only 3 ZIPz had sales gains of 100% or more in the period.

Mortgage Rates Growing Fast In O.C.

As of August 6.85% of mortgage borrowers in Orange County were 90 days or more delinquent on their loans.

diceThe mortgage rate is growing faster in Orange County than it is in the state or the country and has increased 77% in a year.

The rate of active loans who had a foreclosure filing but have not yet been seized by the bank rose by 58% to 2.5%. Loans in this category are also considered in the delinquency rates.

The percentage of loans offered at auction but returned to the lender – also know as the REO rate – fell 66% in the past year.

O.C. has 3rd Biggest Drop In Rent Prices

Renters in Orange County should sleep easy tonight knowing that they are enjoying the 3rd biggest U.S.

rentrent cut this year.

Rents throughout Orange County decreased 5.5% - the third biggest drop among the 79 major U.S. markets.

In the third quarter of this year the vacancy rate in Orange County was 6.2% - 25th out of the 79 markets. The number of vacancies in the county was up 1.5% from last year.