Today on the Southern California Real Estate Report we take about how the restaurant industry is handling the fall out from lack of business due to COVID-19. The world is learning how to behave in a society with social distancing. Restaurants are closing their doors temporarily or trying to pivot to an "take out only" menu but even those efforts might not be enough to survive the pandemic. Subsequently, landlords must deal with rent going unpaid or possibly vacancies. What is unclear is how are society will be changed as a result of COVID-19. Should restaurants buckle down and assume once Social Distancing orders are lifted people will, once again, fill their establishments, or will the changes in our social norms be longer lasting? No one knows for sure but we are hoping for the best. Stay Safe San Diego

Southern California Real Estate Report

Restaurants Grapple with COVID-19

Today on the Southern California Real Estate Report we talk about the Coronavirus Stimulus Package. We go over what it is, who is helped by it and what it does for Real Estate.   The bill is roughly a $2 trillion economic rescue plan. Adults making $75,000 or less would get $1,200.00 The bill would temporary stop nationwide eviction moratorium for any renters whose landlords have mortgages backed or owned by Fannie Mae, Freddie Mac and other federal entities

Coronavirus Stimulus Package

Today on the Southern California Real Estate Report we talk about the neighborhood of Sherman Heights. The marketing company Red Door bought a building in the neighborhood and is planning to move operations there by next year. The company is taking advantage of Opportunity Zones. Opportunity Zones are areas that are economically-distressed. They offer tax breaks for new investments, under certain conditions.

Sherman Heights

Today on the Southern California Real Estate report with take a dive into vacation rentals. Developers of high-end apartment developments are having a hard time filling the units. It is common for them to offer concessions to get units filled. However concessions are sometimes not enough. Now there are companies that will lease entire floors on units and run the as vacation rentals. What the logistics behind theses leases and what does this mean for future developers? We will discuss all this and more.    

Hotel Apartments?

Today on the Southern California Real Estate Report we talk about how the old becomes new. As many big box store start to scale back and close stores these building are left empty. However, the tried and true trope- location, location, location still holds water. In this case an old Toys "R" Us off Morana blvd has been repurposed into a driver center for Lyft driver. Its shows that while we often think of gig industry as being model and internet focused it is moving into a space in the Real Estate market. Its providing an answer to filling retail space.

Lyft Leases a Building in San Diego

Today on the Southern California Real Estate Report we talk about the inclusionary housing requirement the City just voted on. Multi Family developers are having to build more low income housing, clarifying the gray areas that once held up developers. The down side is that the fees are high if you don’t build the housing required. New inclusionary law requires 10% of units affordable to family making 60% of the median income The median income in $86,000 for a family of 4 T he new fee structure is nearly double the old one for developers

Inclusionary Housing Requirement

Today on the Southern California Real Estate Report we talk about the housing market and how San Diego is the hottest market in the county according to Zillow. Last year home prices were up 3.8% This year they are expecting it to go up 2.8% which is healthy for our market The issue is, of course, with inventory, we lack it. The median San Diego County home value would be around $600,650 The median home price in the United States is $229,000 And for California the median home price is $548,600    

The Hottest Market for Housing

Today on the Southern California Real Estate Report we talk about an affordable apartment project coming to San Diego's Little Italy. With all the talk about how unaffordable housing is to build how trick this developer is getting it done has to do with the size of unit and not offering parking with your rent. In fact the developer is building a limited number of parking spaces. Can Diegans living in urban environments, like Little Italy, get away without having a car? Is public transportation the new way forward? What alternatives will this tenants have if say the have a car? How will this impact traffic and parking in Little Italy? We talk all about these questions and add more on this weeks episode.

Affordable Housing In Little Italy

Today on the Southern California Real Estate Report we give a run down on the newest projects opening in San Diego this year and there are some amazing new boutique style multi-family projects all around the County. Here is a list: The Collins- La Jolla Kansas Modern-North Park Nest Hillcrest Cielo 3954 Kansas- North Park Jefferson Pacific Beach State and Oak- Carlsbad Urbana- Chula Vista 1836 Columbia- Little Italy 100 Main St- Vista Park & Market- Downtown Purl- Mission Valley One Passeo- Carmel Valley   To learn more listen in.

New Multi Family Project Opening in 2020

Today on the Southern California Real Estate Report we talk about a new 900 million dollar housing bond that is supposed to help the housing affordability problem... but we have some questions. Tune in to learn more. On this episode we talk about: -The problems with this bond -How complicated the housing issue is from a developer level, from a neighborhood level and a state a federal level

900 Million dollar Housing Bond

Today on the Southern California Real Estate Report we talk about a new project coming to Solana Beach and you will never guess how high are the asking rents. - RAF Pacifica Group is the developer of this mixed use project -It cost a staggering 25 million to build this 26,407 square foot mixed-use project located on Cedros. -The asking rents for the office are at $5.15 per square foot

New Solana Beach Project

Welcome Back to the Southern California Real Estate Report and our first episode of 2020. First, thank you to everyone for the support. This year we will have any great new podcast headed your way. We start this year off with news on Tailgate Park in the East Village. The parking lot once eyed as a sight for the Chargers and it is the tailgate park of the Padres. 5.25 acres and up to 4 million sq. feet of possible multifamily and/or office There has been an RFQ, Request for Qualification, for Developers Possible that San Diego will get an NBA or NHL team Already over 100 applicants for this development

Tailgate Park Gets a Makeover

Today on the Southern California Real Estate Report we take about where rents are headed in San Diego. The latest report is looking favorable for renters. -In general a healthy vacancy rate is 5% and it is currently 4.7%, up from 4.1%   -The costal communities are still a hot spot for renters and buyers and rents are still competitive and high -On the other side El Cajon has the most reasonable rents in the county. -The housing market has gone up 5%, with interest rates still very low the condo market is looking like a good option for people.   The article referenced is from the San Diego Business Journal

Rents in San Diego

Today on the Southern California Real Estate Report We talk about a remodel happening at the Plaza in Del Mar.   The Plaza is a multi stories stopping center that has struggled to keep tenants despite it's A+ location in the heart of old Del Mar. The owners hope that a refresh is just what the Plaza needs to attract people to come inside and come up its many stairs. Will this multi story center come alive again? We will have to wait and see.

Del Mar Plaza Get A Remodel

Today on the Southern California Real Estate Report we take a dive into retail with news that the Fashion Valley Mall will undergo a multi-million dollar renovation. The renovation is expected to be finished by 2021 It will include more community space and room for entertainment 

Fashion Valley Mall Gets a Makeover

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

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Southern California Real Estate Report

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