Manatt Partner Quoted by GlobeSt.com on Hot OC Market

Manatt Partner Quoted by GlobeSt.com on Hot OC Market

"OC Remains Desirable Growth Market"
GlobeSt.com

April 3, 2013 - Manatt's Steven Edwards, a partner in the firm's Real Estate & Land Use Practice, was quoted by GlobeSt.com on what makes Orange County a special real estate market.

As reported by GlobeSt.com, Orange County has become a shining star among West Coast real estate markets, one that has recovered from the economic downturn faster than most of California. And, it's continuing its upward trajectory post-recession.

Edwards told the publication that it's a "hot, hot market."

"The thing about Orange County is that it's kind of a special place," Edwards said. "You have to go back to the history of this area, which was heavily influenced by a small number of families that owned ranches. Basically, the chain of title goes almost from that family to the King of Spain."

Edwards explains that a few American families acquired the land from Mexican ranch families-the Irvines, Segerstroms and O'Neills owned tremendous pieces of property in South County and began developing it during the postwar boom in the '60s. "These ranching families decided to sell their land to start developing real estate. Orange County benefits from the fact that there's a lot of centralized thinking about how the development is to proceed. It's relatively recent, modern thinking since it only started about 50 years ago."

The fact that the area was also developed in a thoughtful way adds to its desirability. "We've got clean industry, great schools, a strong professional sector-a lot of law and accounting firms are here-and a lot of great housing stock," says Edwards. "It's an extremely strong community. I read a long time ago that if Orange County was an independent nation, it would have the 25th highest GNP in the world."

Read the article here.

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