Summary of CALIFORNIA COASTAL COMMUNITIES INC

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.

In response to the announcement by California Coastal Communities, Inc. (the "Company") that it filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code, the Nasdaq Stock Market Listing Qualifications Staff (the "Staff") issued a delisting determination letter to the Company on October 28, 2009. The letter indicated that the Staff has determined to delist the Company's common stock from the Nasdaq Stock Market as a result of the Company's decision to file such a petition for relief under Chapter 11, pursuant to the discretionary authority provided under Marketplace Rules 5100, 5110(b) and IM-5101-1.

The Staff's letter further advises the Company that trading of the Company's common stock will be suspended at the opening of business on November 6, 2009 unless it requests a hearing with a Nasdaq Listing Qualifications Hearing Panel (the "Panel") to appeal the proposed delisting. The Company is evaluating whether to request a hearing with the Panel to appeal the proposed delisting, or to not appeal the Staff's decision and allow its common stock to be delisted.
If the common stock is delisted, the Company expects that it will not be immediately eligible to trade over the OTC Bulletin Board or in the "Pink Sheets," however, the common stock may become eligible for such trading if a market maker makes application to quote the common stock in accordance with Securities and Exchange Commission Rule 15c2-11, and such application is cleared.

A copy of the press release announcing the Staff's determination is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.