Orange County, California, real estate appears to be "picking up." At least according to local real estate professionals.

With 42 miles of beaches and close proximity to busy Los Angeles, this city has healthy demand -- that should bring about a 5 to 7 percent appreciation rate this year.

Median home price is $734,000. Home sales are up 1.4 percent from May, though down slightly from last year at this time. Statewide sales have dropped 24.7 percent.

Notes one local expert, "Homes will stay on the market months longer this year -- few will have multiple bids the day they go on the market like several years ago -- but they WILL be sold and most at the original or slightly reduced selling price as sellers face reality and price their houses equitably."

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