by Calculated Risk on 8/15/2005 04:28:00 PM

Back in March I wrote (in jest) that they were giving away free money in The OC (Orange County, CA). At that time the median home price in OC was $555,000.

Over the next few months median home prices rose to $603K. That was a total of $48K in FREE MONEY (not really free of course) since local RE Broker Gary Watts' prediction of $70,000 in gains this year for the median home.

Now the OC Register is reporting a slight dip in home prices to $601,000 for July. Still $46K in 6 months is well on its way to Mr. Watts' $70K annual appreciation prediction.