SB-828 Land use: housing element 2017-2018 On Sunday the 30th, Governor Jerry Brown signed Senate Bill 828 requiring local governments to accommodate 100% of the the projected local housing need, in other words, if the city projected 2,000 people to move in to the city for 2019, they would need to accommodate and zone new construction projects to accommodate 2,000 people. In...

Data Courtesy of the California Association of Realtors (r) July 2018 [caption id="attachment_16499" align="alignnone" width="727"] California Home Sales[/caption] Home sales in California declined for the third consecutive month, 406,920 units, down 1.4% YTD and down 3.4% YTY. Southern California homes sales bounced back in July. [caption id="attachment_16500" align="alignnone" width="730"] Southern California Home Sales Bounced Back in July[/caption] Home sales in California declined in every segment under...

Below are some highlights from Freddie Mac's May housing report Gross Domestic Product (GDP) grew at an annualized rate of 2.3 percent in the first quarter of 2018, down from 2.9 percent in the fourth quarter of 2017 Consumer spending growth lowest in 5 years Economy added jobs for 91 consecutive months 3.9% unemployment rate Hourly earnings increased 2.6% year...

The California Association of Realtors came out with their 2018 California Economic and Market Forecast this month presented by Leslie Appleton-Young, Chief Economist of CAR. The report mostly covers data they have received and compiled up until the end of 2017. The report starts out with nice break down of trends, most notably the median home price of $502k in 2016...

In today's post I've added info from C.A.R. Research and Economics on the monthly housing outlook. As apartment building investors in San Diego County it's important to keep an eye on what's happening in the single family housing market and be on the look out for trends or signs in a shift in apartment buildings. Generally speaking, the more affordable houses...

The topic today is to increase rents or not increase rents, that is the question. I've met with and spoke to many apartment building investors, in both rent controlled and non-rent controlled neighborhoods, that have decided not to raise rents over the years for a multitude of reasons. Some reasons I've heard of why not to raise rents are: I really...

Impact of Rising Interest Rates on Your Apartment Building Thinking of selling your apartment building in the next few years? Thinking that rising interest rates won't effect the value of your commercial real estate? Holding out for the market to go even higher? Or are you just holding on forever and will let your kids deal with it. Maybe your apartment...

Courtesy Zumper - https://www.zumper.com/blog/2018/01/zumper-national-rent-report-january-2018/ Per Zumper's annual report San Diego Multifamily one bedrooms grew nationwide by 2.1% to $1,255, San Diego apartment building two beds increased .2% to $1,388. San Diego Multifamily apartment buildings moved up the rank to number 6 for the highest rental rates, Los Angeles number 5 for reference. One bedroom rental rates increased by 2.4% to $1,730 and two...

2017 Santa Monica Multifamily Sales Report 5-100 Units For 2017, Santa Monica multifamily sales for units 5 to 100 units totaled: - 42 total sales - 488 total units sold - $193,155,000 total sales volume with a median - cap rate of just above 3%, - GRM hovering in the 19 range, - price per unit at $416k and - price per foot at $536. When relating these numbers to the...

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