One-Day Lottery for Fountain Valley Homes

The Olson Co., a Seal Beach builder, is offering a one-day lottery on June 22 for 15 single-family homes in Fountain Valley. Called “Centre Park” the affordable housing development is a joint venture between Olson and the Fountain Valley Agency for Community Development and already 75 families have been prequalified for the homes. . . . Roughly 30% of the buyers in a new development called Rancho La Quinta Country Club near Palm Springs are from Orange County, owners say. . . . The Orange County/Inland Empire Partners in Homeownership became one of the first in the nation to be cited as a local partner in a national effort launched by the housing industry and President Clinton to spur home ownership through education and other incentives. “So much of the progress we are making in home ownership is on the local level,” said HUD Secretary Henry G. Cisneros.

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Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at debora.vrana@latimes.com