There is no question that the national and local economy have been brutal to the vast majority of citizens in the past two or three years. The question on everyone's mind now is, "When will things improve?" As regular viewers of CNBC, we hear about more and more indications of a gradual economic recovery that is taking place in our nation, and even in California! Experienced realtors, Don and Jo-Ann Doran (who also happen to have enjoyed HomeLife Housekeeping service regularly for the past two decades) write a newsletter on matters pertaining to real estate and the economy. They have granted me permission to share with you their analysis of the local economy in their latest newsletter. Since the writing of this newsletter on September 10, the Dow Jones Industrial Average has risen another 7%, to over 11,100. As Don and Jo-Ann say, it is time for us to feel "cautious optimism"!