Bullish: A 1-acre lot in Irvine’s exclusive Shady Canyon went for a record $6.1 million, the Insider is told. The last 11 lots in the 400-palace community get released July 8. Golf memberships have been bumped up another $15,000, to $275,000; 375 sold, no more than 75 left …
Bearish: Berkeley superstar economist Ken Rosen delivered a sobering prediction at the UCI Center for Real Estate’s dinner at the Costa Mesa Hilton: OC home prices are likely to drop in the next two years,modestly, though it could be worse if interest rates spike. With tongue more in cheek, Rosen lamented a decline in the divorce rate, “a totally troubling trend” for home sales. UCI biz dean Andy Policano delivered happier news: The center has exceeded its $3 million fund-raising goal by $1 million …
Jim Spanfeller has joined the board of OC Register parent Freedom Communications, replacing retired CEO Alan Bell. The addition of Spanfeller, CEO of Forbes.com, is a sign that new Freedom CEO Scott Flanders is serious about expanding the Irvine-based company’s online activities …
They’re jockeying to run for county Supe Lou Correa’s seat, should he beat Lynn Daucher for state Senate this fall. Said to be testing the waters: termed-out state Sen. Joe Dunn (who earlier this month lost the Democratic primary for state controller), Tom Umberg (loser to Correa in another Dem primary) and Republican Assemblyman Van Tran (easy primary winner). Also mentioned: Republican Carlos Bustamante and Democrat Claudia Alvarez, both of Santa Ana’s City Council. Not interested: Santa Ana Mayor Miguel Pulido …
Kenny Loggins didn’t raise too much of a ruckus, but a helicopter rustled trees, upended furniture and animated bidders attending the Miocean Foundation gala at the St. Regis. “The story is going from a 40-person fund-raiser at Ketel One in 2004 to 600 people on the ‘grand lawn’ raising nearly $700,000 in 2006,” says Pat Fuscoe, architect of the foundation’s pragmatic approach to shoreline protection …
Register chief Chris Anderson has topped the Insider’s earlier estimate of OC’s biggest fund-raising event. He notes that last year’s Reg-sponsored Race for the Cure raised $2 million …
There was scant evidence of November jitters at the GOP’s Flag Day dinner at the Hyatt Regency Irvine,a sellout crowd of 1,120 cheered rousing speeches by the Governator and radio’s Dennis Prager and raised $350,000 …
NFL great Lynn Swann, GOP underdog against Democrat incumbent Ed Rendell in the race for Pennsylvania governor, got a $70,000 boost from a Lincoln Club reception at the Radisson Hotel Newport Beach. Running backs Anthony Davis and Sam Cunningham led a contingent of Swann’s fellow ex-Trojan jocks,enough to field “an offensive football squad, an Olympic swim team and a Davis Cup tennis team,” quipped club Prez Rich Wagner, a former USC swimmer. Also attending: commentator Hugh Hewitt and Angels owner Arte Moreno, a big Republican in Arizona.
