I-405 Sepulveda Pass Improvements Project | Notice of Night/Day Work Activity - April 8

ATTENTION COMMUTERS, RESIDENTS AND BUSINESSES IN THE VICINITY OF THE SAN DIEGO FREEWAY (I-405) AND WILSHIRE BL

The Contractor will begin placing k-rail and installing temporary lighting and signals at Wilshire Bl and Sepulveda Bl on Friday, April 8, 2011 for 12 hours.  During this period all traffic signals at the intersection of Wilshire and Sepulveda will be turned off and traffic control officers will be directing traffic.  Once complete, Wilshire Bl will be reduced by one center lane in each direction.  All turn lanes will remain.  This reduced traffic configuration is anticipated to be in place for one year.

What: Installing k-rail and temporary lighting and traffic signals.

When: Closures and work will begin at 10pm on Friday, April 8^th and will continue until noon on Saturday, April 9, 2011. 

Where:  Wilshire Bl at Sepulveda Bl

What to Expect:

• Two lane closure on EB Wilshire from Bonsall to Veteran from 10pm to noon.
• Two lane closure on WB Wilshire from Veteran to Bonsall from 10pm to noon.
• Sepulveda Bl will be reduced to one lane in each direction from Constitution to Ohio.
• Eastbound Wilshire sidewalk will be closed. Pedestrians will be detoured to the westbound Wilshire sidewalk.
• Please share the road with cyclists. "Give Me 3" requires drivers allow three feet when passing bicycles. Be especially cautious in construction zones.
• Emergency vehicle access will be maintained.
• Work is weather permitting and subject to change.
• Visit our website for the latest project updates, www.metro.net/I-405.
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Last Revised: Publish Date:

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via metro.net

I hate traffic and thought you might like to know about this, so that you can avoid it!

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Record number of real estate transactions are ALL CASH......Do "they" know something YOU don't?!

With interest rates low and home prices down, appreciation of real estate is inevitable!  If you can buy a home or real estate investment now, you will be rewarded in the next 5-10yrs. You have to live somewhere, so why not take advantage of this opportunity! Be a leader in your social circle, not a follower, you will be happy you did.

Phil Missig

310-844-6434

phil@philmissig.com

 

 

All-cash home sales hit record highs

March 31, 2011|By BRIAN MARTINEZ

Original article: http://goo.gl/klhLs

All-cash home buying is surging across the United States, including in Orange County, as lenders tighten mortgage standards, middle-class buyers are sidelined and investors see opportunity.

Nationwide, cash buyers grabbed 33 percent of all used homes sold in February, the National Association of Realtors reported March 21. The figures, based on agent reporting, do not include foreclosure auctions on courthouse steps, which are usually cash-only.

In Orange County and California real estate, DataQuick Information Systems reports similar trends based on county recordings that do not show any purchase loan.

Cash-only sales have more than doubled in Orange County, from a monthly average of 10.4 percent in the past 23 years to a monthly average of 24 percent in the past 12 months, DataQuick statistics show. In January, all-cash sales hit 28.3 percent in the county – the highest for any month since DataQuick started tracking the figure in 1988.

In Irvine, 31.6 percent of the 393 homes sold so far this year were paid for in cash, real estate broker Cathy Haney said. The average sales price of the all-cash deals this year was $657,854, while the median price for all the Irvine homes sold was $535,000, she said.

Across California, mortgage-less home purchases have doubled from an average 14.7 percent in the past 23 years to 28.3 percent in the past 12 months, according to DataQuick. Cash deals hit 32.9 percent in February, the highest for any month since at least 1988.

"You're seeing an increase in cash deals at both ends of the price distribution curve," said Sam Khater, chief economist for CoreLogic Inc., a real estate information company. "You're seeing it in the hardest hit areas, where investors are coming in and picking up low-priced properties. And you're seeing higher cash activity at the upper end as well."

The "lion's share" of all-cash purchases nationwide are from investors, according to Walter Molony, a spokesman for National Association of Realtors. Real estate investors seek rental income, long-term appreciation or a quick profit.

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