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20,000 California State Jobs At Risk

February 16, 2009

Tweet Twenty-thousand layoff notices will go out on Tuesday morning Such was the word from the Governor’s spokesperson as the California state legislature and governor try to close a massive budget deficit in the state. In addition to these potential cuts, the state has halted public works projects and has began furloughing state employees. Kansas […]

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January 2009 California Residential Foreclosure Numbers

February 12, 2009

Tweet California’s 2009 foreclosure numbers have been released by ForeclosureRadar. The number’s still are ugly, but at least lenders are providing more incentive for third party buyer’s to buy on the courthouse steps. According to the report, average lender discounts from outstanding loan balance was 41.4%, whereas it was only 16.1% a year earlier. There […]

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Allen Matkins/UCLA California Office Forecast

February 5, 2009

Tweet The Allen Matkins/UCLA Forecast, which is biannual survey and index for California commercial real estate markets is predicting more of what we already are hearing: that the downturn in the overall commercial real estate will continue for the foreseeable future with a recovery beginning sometime in the latter parts of 2010. In the Bay […]

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Sperry Van Ness To Close Southern California Offices

January 27, 2009

Tweet Effective January 19th, SVN announced the closure of all of its offices in Southern California, and a consolidation of all of the Southern California offices into the Los Angeles location in an effort to cut costs and deal with the economic slowdown. Sperry Van Ness’s strategy seems to be to move the brokerage towards […]

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California Unemployment Rate Skyrockets From 8.4 to 9.3% in One Month

January 23, 2009

Tweet California unemployment numbers are out for December and they are abysmal. The EDD is reporting an unemployment rate of 9.3% for December 2008, a huge jump from November’s rate of 8.4%.  In Santa Clara County, the unemployment rate is 7.7%, and in San Mateo County it is still a healthy 5.9%. San Francisco County […]

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California Residential Property Foreclosure Rate Update

January 14, 2009

Tweet ForeclosureRadar released its December 2008 foreclosure report today. Some of the notable takeaways from the report are: Notices of Default increased 100 percent over Notices recorded for November, to a total of 42,421 default filings, a 24.7 percent increase over December 2007. Notices of Trustee Sale, which set the auction date, time and location, were […]

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Unemployment Rate Update

December 19, 2008

Tweet November 2008 unemployment numbers reveal a 20 basis point increase from the previous month in California, when unemployment numbers registered in at 6.5%. The national rate hovers right around 6.7-6.8%, seasonally adjusted. Locally, the unemployment figure in Santa Clara county according to the EDD is 7.1%. In San Mateo county, the number is a […]

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533K Layoffs Nationwide in November; California, Silicon Valley Unemployment Rate Update

December 5, 2008

Tweet In numbers released by the Labor Department today, the month of November saw employers slash some 533,000 jobs, the most in 34 years. The number came in over 200,000 higher than the 320,000 economists were forecasting. The national unemployment rate currently stands at 6.8%. With GM, Chrysler, and Ford all strapped for cash, the […]

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September 2008 Unemployment Numbers

November 6, 2008

Tweet California’s unemployment rate held steady at 7.7 percent in September, after climbing by 1.5 percentage point over the four previous months. The U.S. unemployment rate held steady in September at 6.1 percent, after rising by 1.1 percentage point over the four previous months-including a 0.6 percentage point jump in July and August combined. The […]

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August 2008 Federal, California, and Silicon Valley Unemployment Numbers

October 3, 2008

Tweet The latest unemployment numbers for August 2008 have been released and the economy continues to trend lower as unemployment nationwide, statewide, and locally have all continued to trend higher. The graph to the right shows the trend over three years, but what we are seeing over a longer time period is that statewide, the unemployment […]

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