Today on the Southern California Real Estate Report we look into a breaking ground development in San Diego. It's a 6 story office building in the heart of downtown. The developer believes that the project will do well despite the changing office market due to the COVID-19 pandemic. Even though it has been a while since the downtown office market was considered the hot place to be, there may be a shift now that Horton Plaza is being made into a tech center. If the space is well designed we believe it the developers will have a successful office project as law office and smaller tech firm take advantage of their changing needs.  

Southern California Real Estate Report

New Office Building Coming to San Diego

Today on the Southern California Real Estate Report we talk about how rents are holding up going into fall.   Rents have only declined a modest amount even during this crazy time, even in the high end market Landlords might have pulled rents back in the early part of the pandemic however leasing velocity have been strong We have seen one bedroom apartments become a hot commodity during this pandemic  

Rents are holding up

Today on the Southern California Real Estate Report we talk about traffic patterns and how the 'work from home movement' is changing how and when we travel. We look to the future and try to understand what the world of office will look like when COVID-19 comes to an end (and hopes that it does). How will our current situation change the future of commuter traffic? Will we use all the public transportation being built in San Diego? Get our options and move in this weeks episode.

Traffic! What you need to know

Today on the Southern California Real Estate Report we talk about as jobs move indefinitely to work from home, some workers have more flexibility to move to other parts of the state. Many people still consider San Diego affordable. Especially when you compare San Diego to cities like San Francisco and Los Angeles. The move to work from home is changing the way people office and as a result there is a high vacancy rate for office space across the state. San Diego's a way of life is something many people want to take advantage of and the weather is the most mild in the country.

People are moving to San Diego for Affordability

Today on the California Real Estate Report we look at different area of the county and see where rents are headed. In neighborhoods around Balboa Park rents are growing, while rents in the UTC are taking a hit. What impact to Universities not holding class on campus has changes growth in some area and could have lasting effects. There is a saying, you can't build old buildings and that saying takes on some meaning when you look at the downtown submarket There is a new trend some are calling 'the great escape" where people from cities are moving away. San Diego might benefit from it. We explain why.

Rent Growth Is Not All What it Seems

Today on the Southern California Real Estate Report we talk about California's housing affordability.   There are a bills being discussed to allow for higher density for allowable affordable units and provide accountability at the City level. The hope is the by creating more affordable units, California can also decrees the amount of people that are homeless b/c they simply can not afford the cost of living in California's major cities.

California lacks enough housing

Today on the Southern California Real Estate Report we look at an article from the Union Tribune examining the housing supply in San Diego, more specifically creating more middle income housing. There are some incentives being added to increase building in the mid-income market such as density bonuses for developers and more streamlined approval processes Good News, low-income housing shows growth The areas of growth are Downtown, Kearny Mesa and Mission Valley Middle Income households are those making up to 120%  of the areas median income. The Median income in San Diego is $92,700.00   Listen in for more. The article referenced is titled "San Diego housing supply showing progress" published August 6th, 2020

San Diego Housing Supply

Today on the Southern California Real Estate Report we took at San Diego home prices in comparison to the rest of Calilfornia and the nation, Buyers are still motivated to buy homes amid the pandemic. However there are less sellers willing to sell or move during this time. As on May San Diego home prices had risen 5.2% in a year and keep rising, out pacing other normally hotter markets like San Fransisco and Los Angeles. Part of the reason might be the low interest rates. 30-year, fixed-rate mortgage in May was 3.23%. That number is down from 4.07 for May of last year.   The article referenced for this podcast is from the Union Tribune titled "San Diego home prices outpace other markets in California" Have an comments or questions please reach out to us by visiting our website at ipasd.com

The Hottest Real Estate Market in California

Today on the Southern California Real Estate Report we talk about what the pandemic means for Real Estate. Most specifically, how business use office space and how employees use their homes to work out of. We ask the question- is the permit work from home concept viable for workers and for Real Estate? We dive into what needs to change for business in order to operate out of an office or have employees move to working from home full-time. The article referenced is from the Union Tribune

COVID 19 The Future of Real Estate

Today on the Southern California Real Estate Report we give an update on plans to redevelop the Sports Arena. The old Sports Arena, now known as Pechanga Arena, is a 47 acer site located in Point Loma and currently has an indoor stadium on site which has been used mostly for basket ball, ice hockey, and concerts The finalists for the opportunity to redevelop the old Sports Arena site are proposed by Brookfield Properties and the other is by Toll Brothers Both include retail and residential with potential for a Soccer Stadium and concert venue The area has been eyed by developers for a long time because of the location and potential 

Update Podcast on Sports Arena Redevelopment

Today on the Southern California Real Estate Report we talk about where home prices are headed both nationally and locally. The hot price point in San Diego is between $300,000 and $700,000 There is an expectation of home prices going down about 1.3% in San Diego and 6.6% nationally There is less movement and everyone is stuck at home and because of this home inventory remains low in San Diego  

Home Prices in San Diego

Today on the Southern California Real Estate Report we talk about an important topic regarding Aid to Renters and a moratorium on evictions which is extended to September. -Collections have been strong the last few months for us as property managers -There are new COVID-19 restrictions happening and many people will be effected -The City approved a 15 million dollar rent relief program to help the people most in need.  

Renters Get More Relief

Today on the Southern California Real Estate Report we talk about how rent collections faired in the begging of the pandemic. We talk about how we feel the pandemic is going for San Diego and what we might expect in the future. We looked at number according to Datex Property Solutions. Apartment rent collections are doing well for most landlords. There is however concern that once relief ends that will start hitting renter pockets and owners will have a harder time with rent collection. We look at this and a few other factors in rent collect in this weeks podcast. To learn more about our source go to: https://www.bisnow.com/national/news/economy/june-rent-collections-retail-apartments-coronavirus-effects-104708?utm_source=CopyShare&utm_medium=Browser

Rent Collections

Today on the Southern California Real Estate Report we focus on San Diego opening up again with a modification to the original CARES Act, or the Paycheck Protection Program Flexibility Act. We talk about how the restaurant and hospitality industry will benefit because now only 60% of PPP loans must be spent on payrolls, leaving the remaining 40% for other eligible expenses, including rent.   We believe that these changes will help keep business open because they allow for them to have flexibility. We reference the following article for this podcast: https://www.bisnow.com/national/news/retail/ppp-revision-aims-to-help-restaurants-104705

PPP Revision Help San Diego Businesses

Today on the Southern California Real Estate Report we talk about the San Diego Downtown Market. We look at Costar data and trends in other markets to understand the San Diego market better. The San Diego downtown market has a lot of inventory and high rents. A lot of things that attract people downtown will remain closed for the foreseeable future.

What is Happening in San Diego's Downtown Market

A report on what is happening in the Real Estate industry.

hubhopper

Southern California Real Estate Report

hubhopper