Today on the Southern California Real Estate Report we talk a look at the high-end home market. The sale of a $24.7 million dollar home is the third highest ever for San Diego. It is location in La Jolla on the beach. The new home took roughly 8 years to build and is around 6,000 square feet. The sale is higher than Alicia Keys purchase of the iconic Razor House in 2018. That home sold for $20.8 million. The luxury market in San Diego has had a lot of growth in the last few years and some believe its because the market is more affordable than LA of San Francisco

Southern California Real Estate Report

Top Home Sales in San Diego

Today on the Southern California Real Estate Report we talk about some of the policy changes that are happening in the City of San Diego. The City is allowing more housing project under the flight path by updating zoning codes and regulations. Every year the City makes small changes to existing policy to better service the community. Some criticize the City's ability to makes changes because it does not allow for public opinion, however the changes are only intended to fix contradictions or stop unintended consequences. There are 44 policy changes this year. To learn more about the changes tune in.

The City of San Diego Makes Chances that Impact Housing

Today on the Southern California Real Estate Report we talk about how San Diego has one of the lowest number of housing lots available in the U.S. Its not a new story and it should come as no surprise that San Diego has not been keeping up with housing needs. Now a new report from the firm Zonda confirms this by confirming that we are also limited on housing lots. This report looks at single family homes. If single family homes are not being developed it puts a strain on the rest of the market. We are lucky to live in a desirable part of the county, but our topography is limiting and so is the land which the City occupies. There is also the problem with cost, and community opposition to new developments. San Diego has a long way to go to meet housing needs.

Not enough housing lots

Today on the Southern California Real Estate Report we take a look into Cold Storage as a building trend in 2021. Cold-ready building storage is a sector of industrial real estate that has been on the rise even before the COVID-19 pandemic shook us all to the core (pun intended). For anyone that has been a listener for 2020 you know that we have covered a variety of trends. Some of those trends will stay, some will go. We predict that cold storage is here to stay. As our focus moves digital, so do our shopping habits, but lets be frank, our shopping habits have been moving online for a very long time. We have covered the retail space crisis for as long as we have been hosting this podcast. It is safe to assume now that ordering food from grocery stores is easy and fast, many of us are less likely to go back to the long lines of in-store shopping anytime soon. Of course we mustn't forget the vaccine! The Pfizer vaccine must be stored at minus 70 degrees Celsius. So, as we end the looking into 2021 we hope all our listeners have a happy and safe New Year. We hope that we can continue to give you Real Estate related news and topics that are both interesting and informative. And we hope that 2021 brings us all back together again.  

What Real Estate Sector Will Be Cool in 2021

Today on the Southern California Real Estate Report we send a little merry your way with a fun San Diego quiz. Can you beat Bob in San Diego knowledge? Click on the quiz link to find out or simply play along. How Well Do You Know San Diego? (survey-maker.com)

Holiday Podcast Quiz

Today on the Southern California Real Estate Report we talk about the growing need for commercial lab space. One thing has been clear, most parts of the commercial Real Estate market have been hit hard by the COVID-19 pandemic. Many small business have had to shut down, office work has moved into people's homes and restaurants have struggled with restriction that limit dinning. Thats why Bio-tech has been a shinning light in the Commercial Real Estate world. The best news is that San Diego has a lot of it. In fact, it is one of the few places in the country already equipped with the proper build outs needed for this space... and it requires a lot of space.   https://qz.com/1946400/lab-leases-boom-despite-covid-19s-hit-to-commercial-real-estate/

Lab Space is a Bright Light in the Commercial Real Estate World

Today on the Southern California Real Estate Report we talk about the new plan for Harbor Park in Chula Vista. It's a $47.5 million dollar attraction that will include a new beach front. The hope is that the new beaches and park will become a tourist attraction and also provide locals with a place to enjoy the beach. The Development of the park is tied to the Gaylord Pacific Resort Hotel and Convention Center. We hope for more projects like this in San Diego. It will bring much needed amenities to the Chula Vista area. Its on track to break ground in 2023.

Chula Vista Bayfront Project

Today on the Southern California Real Estate Report we talk about the Ferris Wheel that may be coming to Balboa Park. The Farris Wheel will be at the Plaza de Panama between the San Diego Museum of Art and the Timken Museum. It will have 36 enclosed gondolas and will fit up to 8 passengers. The hope is that the attraction will bring new energy to the Park. 

A Ferris Wheel May Be Heading To Balboa Park

Today on the Southern California Real Estate Report we talk about apartments in the downtown San Diego submarket. -There has been a massive lose of demand in the downtown area due to the Pandemic. -Building owners are offering incentives to try and attract renters. -Many renters are finding more affordable options just outside the downtown submarket, in areas such as North Park. -Many renters choose to live in downtown for the amenities. The COVID-19 pandemic has limited the use of building amenities as well as limited the ability to enjoy restaurants and museums and other popular spots in the area.  

Update on Rents in Downtown San Diego

Today on the Southern California Real Estate Report we talk about the Hines Riverwalk development. It will be a 200-acre mixed-use community located in San Diego’s Mission Valley submarket. The City of San Diego just approved plans for the long awaited project. The project will include: 4,000 multifamily units 140,000 square feet of retail A million square feet of office space A correction to the podcast, the project will close the golf course, it will eventually be redeveloped into a park.

Riverwalk Project Gets Approved

Today on the Southern California Real Estate Report we look at a report from Redfin that shows people are considering moving away from San Diego. San Diego's high home prices are a contributing factor to why people are looking to move out of the county. Add more job flexibility, now that more people are working from home, living in other markets might sound like a good idea to those getting priced out of San Diego. People are looking mostly in Phoenix, Seattle and Las Vegas. Remember that people are just looking. It doesn't mean people are actually buying or moving.

Are People Moving Away From San Diego?

Today on the Southern California Real Estate Report we have guest speaker Paul Dashevsky from Great Buildz here to talk to us about ADUs. If you have ever have any questions regarding accessory dwelling units this a a podcast you won't want to miss. We go over the following: -What ADUs are and the growing market for them. -The growing trend of converting these spaces into a work-from-home-office or multi-generational living . -The 2020 changes to the guidelines that are making ADUs more common. -Who Paul Deshevsky is and why is started the company Great Buildz to help home owner find the best contractors. Thank you to Paul for being our guest today. If you would like to learn more go to www.greatbuildz.com

Guest Speaker from Great Buildz

Today on the Southern California Real Estate Report we give you all a little update on plans to develop the 5 plus acres next to Petco Park known as Tailgate Park. The parking lot, know for being a place were tailgates once happened, is being developed into a mixed us project that will bring more Biotech office space to San Diego.   San Diego is solidifying its title as the Biotech of the country

Update Podcast on Tailgate Park

Today on the Southern California Real Estate Report we look at an article from the San Diego Union-Tribune that takes a dive into the City’s mismanaged purchase of 101 Ash Street in 2014. What is now regarded as one of the worst deals the City has ever made, we learn from e-mails sent to and from the former owners to Mayor Kevin Faulconer about how the deal was put in place. We also look into what problems the building has that cost so much money to resolve.

City’s Purchase of Ash Street

Today on the Southern California Real Estate Report we look at the plan for the city of San Diego to purchase two hotels to be used as housing for homeless. The two hotels are:  Marriott Residence Inn at 1865 Hotel Circle South  The Residence Inn at 5400 Kearny Mesa Road The hotel purchase come with concerns for property owners that believe the City did not go through the proper channels to inform them about the project.  Housing San Diego’s homeless population is a key part of getting people on track to go into permanent housing.

Homes for the homeless

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

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Southern California Real Estate Report

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