Things to Know

It is that time of year again. Put on your walking shoes, sun glasses and hat. Enjoy an afternoon viewing fine art from local artists and fine food from the great Balboa Island restaurants. The excerpt below is from the Balboa Island Art Walk web site:

The 2010 Balboa Island Artwalk Sunday May 16, 2010 9am-5pm, Free Admission

This year’s event will feature over 90 artists exhibiting original oil paintings, acrylics, watercolors, glass, ceramic, sculpture, jewelry and photography along the South Bayfront of Balboa Island.

The Balboa Island Artwalk is the premier showcase for talented local artists and marks the start of the Island’s summer season. Celebrating its sixteenth anniversary, the Artwalk will take place on Sunday, May 16th, from 9am to 5pm along the South Bayfront Promenade of Balboa Island. Admission is free.

This fine art show features artists exhibiting paintings, fine jewelry, blown glass, sculpture, and photography. Spectators will enjoy live music throughout the day on four stages along the walk. Performing musicians include the Retros, Don Ross Duo, Garry Gould, Rick Sherman and Alan Remington, Jim Roberts, and Grant Peakcock.

Limited-edition Artwalk posters and t-shirts will be available at Sapphire & South Bayfront.

A comfortable set of walking shoes, sunscreen, a hat, and sunglasses are recommended.

Local restaurants will be open to serve breakfast, lunch, & dinner.

The OC Cruiser will be providing free shuttle service.

via Balboa Island: Artwalk.

Come out and participate in this fun event, I look forward to seeing you there.

According to the below excerpts from this article on MarketWatch, John Paulson is adjusting his investment strategy to take into account an improving housing market.

By Alistair Barr, MarketWatch

SAN FRANCISCO (MarketWatch) — John Paulson, the hedge-fund manager famous for betting against mortgage securities, is now bullish on the U.S. housing market and the economy.

During a conference call with investors Wednesday, Paulson said he was concerned earlier this year about a potential double-dip recession.

“I’m not concerned about that at all today,” he said. It’s more likely there could be a V-shaped recovery, Paulson elaborated.

House prices have stabilized and could climb 8% to 10% nationwide in 2011, he added.

Corporate earnings are coming in ahead of expectations, the stock market is stronger and there’s a “vibrant” credit market. With the “final leg” of a rising housing market, “the outlook for 2011 could be very strong,” Paulson said.

Paulson oversaw $32 billion in assets at the start of 2010, making it the third-largest hedge-fund firm in the world behind J.P. Morgan Chase & Co.  and Bridgewater Associates.

The firm grew quickly after it made billions of dollars betting against mortgage-related securities before the housing market collapsed in 2007. One of those bets was against parts of a Goldman Sachs collateralized debt obligation called Abacus 2007-AC1.

Covering shorts

Returns generated by Paulson’s main Advantage hedge funds lagged some rivals in the first quarter. Paulson said Wednesday that this was because the firm kept its net exposure to the market low. This means negative bets, known as short positions, were relatively high compared to positive, or long, positions.

Paulson added he was concerned about a potential double-dip recession and a possible default by a Southern European nation. “I’m currently much less concerned that either those two issues will happen.”

Greece’s problems are much better understood now and are being dealt with, he commented.

Paulson & Co. covered, or closed, many of its short positions recently and that showed up in stronger returns in April, the fund manager noted. The firm has been “much more aggressive” in positioning its Advantage funds to “participate in a stronger economic recovery,” Paulson said.

via Paulson & Co. turns bullish on housing, economy Hedge Funds – MarketWatch.

What are your thoughts?

Here is a short article from the OC Register indicating the improving housing market in the Orange County Coastal areas.

Homebuying up 52% at beach, south O.C.
April 18th, 2010, 7:58 am
posted by Jon Lansner

For calendar month March – freshest numbers from DataQuick — our region-by-region analysis of homebuying shows Orange County slices up geographically speaking this way …

• DataQuick identified 704 homes selling in Orange County’s north-inland ZIP codes in this most recent period, +6% from a year ago.
• Median selling price? $448,000 in these 23 ZIPs. This most recent median price change was +11.0% vs. a year ago.
• Mid-county ZIPs — median selling price $347,000 – had 762 sales, -10% from a year ago. In these 24 ZIPs, the freshets median price change was +7.2% vs. a year ago. Combined, total homes sales in ZIPs in the north and mid-section of Orange County were -2.7% vs. a year ago as homebuying the the rest of the county ran +51.6% vs. 12 months earlier.
• North/mid-county homes accounted for 54% of residences sold in the most recent period vs. 65% a year ago. 460 homes sold in beach cities’ 17 ZIP codes in the most recent period, +47% from a year ago. Median selling price? $701,500 in these 17 ZIPs. Newest median price change was +14.5% vs. a year ago.
• South inland ZIPs — median selling price $521,875 – had 785 sales, +54% from a year ago. In these 19 ZIPs, the latest median price change was +6.7% vs. a year ago.
• All told, countywide sales were +9% vs. a year ago. The median selling price was +12% in the past year.

via Homebuying up 52% at beach, south O.C. – Lansner on Real Estate : The Orange County Register.

What are your thoughts? –

Get ready for a great weekend!

It is here. The 37th Annual Newport Beach In The Water Boat Show.
Spend a day viewing the large array of vessels and then enjoy a pleasant dinning experience along the waterfront in the Lido Village area of Newport Beach.

More Big Boats

The Newport Boat Show is the premier in-water big-yacht show of the West. No PWC or runabouts. The Newport Boat Show is one show that features big boats along with the gear and equipment that makes owning one more enjoyable. With more than 300 boats on display and no limit on the size of bigger vessels, this is the one show serious buyers won’t want to miss. And neither will you!

Beautiful Newport Beach, California is the ultimate location for a big-boat show. Spend the day outside touring some of the finest yachts in the world at the Lido Marina Village where you’ll also enjoy easier access, free off-site parking and shuttle service and a collection of excellent waterfront restaurants. No other show can compare to everything the Newport Boat Show has to offer. And there's no better place to see the latest and greatest models from the world’s finest boat builders.

This year, the Newport Boat Show at the Lido Marina Village is celebrating its 37th year as the premier in-water big-boat show in the West. And this year's show promises to be bigger and better than ever! With more than 300 boats on display, this will be the one show serious boaters won't want to miss. Plus, a whole host of exhibitors will be on hand in the water to showcase innovative products and services that make owning and operating a big boat more enjoyable.

This is one show you do not want to miss!

The 37th annual Newport Boat Show at Lido Marina Village in Newport Beach, California, April 15 – 18, 2010 –

via 37th Annual Newport Boat Show | Welcome!.

Below are excerpts from an OC Register article outlining some improvement in the Orange County housing market. It specifically indicates that the Newport Beach market has improved in the upper end of the spectrum.

SoCal sales shifting to pricier homes
January 19th, 2010, 2:22 pm · posted by Jeff Collins

Home sales in the region shifted to pricier areas last month, pushing December’s overall median home price up 4%, MDA DataQuick reported today.

* Relatively large annual sales gains were recorded last month in such higher-end markets as Beverly Hills, Santa Monica and Newport Beach — areas that saw very low sales a year ago.
* Some of the more affordable inland areas that saw robust 2008 sales recorded year-over-year declines last month. Those markets included Moreno Valley, Lake Elsinore and Palmdale.
* Overall, the Southern California median home price increased to $289,000, the first annual price gain in about 2 1/2 years. It was the highest median sales price since October 2008.
* Prices rose in every county but Riverside and San Bernardino.
* Sales were up 12.1% to 22,328, the largest number for a December since 2006, DataQuick reported.
* Sales were up in every county in the region but Riverside.

What do you think?