Archive for the ‘ Real Estate ’ Category

The Sacramento Bee: Prop. 13 still a hot topic four decades after passage

Dan Walters

By Dan Walters
dwalters@sacbee.com
September 19, 2016 – 3:21 PM

Nearly four decades after its passage, California’s Proposition 13 is still a contentious political landmark.

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The Sun: Harmony project east of Highland faces new legal challenge

City-of-Highland

By Kristina Hernandez, Redlands Daily Facts
Posted: 09/16/16 – 7:34 PM PDT |

HIGHLAND >> Three public interest groups on Thursday filed a lawsuit against the city of Highland over its approval of the controversial Harmony housing project.

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Los Angeles Daily News: Home prices up for 51st straight month in LA, Inland Empire

Home for sale

Mortgage interest rates near all-time lows are a key factor in the housing market upward trajectory climb.

By Jeff Collins, jcollins@scng.com
Posted: 09/06/16 – 7:40 PM PDT |

House prices continued rising in July, increasing from year-ago levels for a 51st straight month in Los Angeles County and the Inland Empire and the 50th straight month in Orange County, the CoreLogic Home Price Index showed Tuesday.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
July 17, 2016 – 5:00 PM

  • Property taxes will top $60 billion this year
  • San Francisco leads with 8.8 percent increase
  • Property taxes continue to outpace state levies

County property tax assessors are reporting strong upticks in taxable values for the 2016-17 fiscal year that began July 1.

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Capitol Alert
By Dan Walters
dwalters@sacbee.com
July 11, 2016 – 2:32 PM

  • Strong real estate market, construction add to property tax rolls
  • Taxable values estimated to hit $5.5 trillion

A strong surge in real estate transactions, new commercial and residential construction and rising housing prices should generate a $3-plus billion increase in property tax revenues for schools and local governments during the current fiscal year.

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InlandPolitics: Highland development boondoggle continues

City-of-Highland

Wednesday, June 29, 2016 – 10:30 a.m.

The Highland, California City Council has either lost its mind or is waiting for a big political payday.

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The Sun: Highland to start review of Harmony project Thursday

City-of-Highland

By Sandra Emerson, Redlands Daily Facts
Posted: 06/25/16 – 5:14 PM PDT |

HIGHLAND >> The City Council meets Thursday to start its review of the proposed Harmony master-planned community.

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Home Construction

By Jonathan Lansner and Marilyn Kalfus, Staff Writers
Posted: 06/25/16 – 6:44 PM PDT |

Dave Miller leaves work in his gold GMC Sierra in midafternoon, loaded up with Arizona iced tea and sesame seeds. He tunes the radio to 95.5 FM KLOS, classic rock.

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Dan Walters

By Dan Walters
dwalters@sacbee.com
May 2, 2016 – 3:01 PM

  • State has huge backlog of unmet housing needs
  • Demand-supply housing gap is widening
  • Poor hit hardest by rising housing costs

Three dry statistical reports issued simultaneously Monday reveal the stark dimensions of California’s deepening housing crisis.

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Los Angeles Times: Southern California home prices surge in March; sales inch up

Home for sale

Andrew Khouri
April 18, 2016

Southern California home prices jumped 5.6% in March, as buyers fought over a meager supply of homes for sale and bid up values.

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The Sun: Highland OKs plan for 178-acre Mediterra residential development

City-of-Highland

By Sandra Emerson, Redlands Daily Facts
Posted: 03/10/16 – 6:16 PM PST |

HIGHLAND >> The Highland City Council has approved plans for the Mediterra residential development.

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THE Press-Enterprise: REAL ESTATE: Inland commercial forecast mixed

Howard Warehouse - Redlands

Published: March 4, 2016 – 6:23 p.m.

A rapidly changing industrial landscape means a mixed bag for commercial real estate for the Inland area for the remainder of 2016, according to a forecast by a key real estate company.

To read Staff Report in The Press-Enterprise, click here.

Dan Walters

By Dan Walters
dwalters@sacbee.com
March 3, 2016 – 3:28 PM

  • Supreme Court allows ‘inclusionary’ housing laws
  • Such approaches don’t really solve crisis
  • California needs to build a lot more housing

Advocates of so-called “inclusionary” policies to provide more housing to low- and moderate-income families were elated when the U.S. Supreme Court this week spurned a challenge to San Jose’s ordinance.

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Beacon Economics

A trio of new reports from Beacon Economics show that high home prices are driving low and medium-wage workers out of California. The studies also say that not enough homes are being built.

By Kevin Smith, San Gabriel Valley Tribune
Posted: 03/03/16 – 2:01 AM PST | Updated: 1 hr ago

California boasts some of the highest wages and fastest rates of job growth in the nation but high housing costs are pushing many people out of the state, according to a trio of reports released Wednesday.

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Daily Press: Lawsuit challenges Tapestry

lawsuit

Environmental groups cite lack of water, say endangered species will suffer.

By Rene Ray De La Cruz
Staff Writer
Follow @@DP_ReneDeLaCruz
Posted Feb. 26, 2016 at 1:52 PM
Updated Feb 26, 2016 at 8:44 PM

HESPERIA — A coalition of public interest groups on Friday filed a lawsuit that challenges the city of Hesperia’s approval of the controversial Tapestry Project.

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The Press-Enterprise: MORENO VALLEY: Big spending continues in warehouse battle

Iddo Benzeevi

Developer Iddo Benzeevi at an August hearing on the World Logistics Center. His company has spent more than $800,000 in campaign expenses to promote the project. (David Bauman/File)

Published: Feb. 11, 2016 – Updated: 10:20 p.m.

  • Highland Fairview, developer of the World Logistics Center, outspent foes 4-1 in campaigns for competing initiatives.

The developer of the World Logistics Center in Moreno Valley spent more than $800,000 in the last few months of 2015 to promote the mega-warehouse.

To read article by Imran Ghori in The Press-Enterprise, click here.

The Sacramento Bee: CalPERS makes huge New York real estate deal

calpers

CalPERS has completed the purchase of a New York office building for $1.9 billion.

Business & Real Estate
By Dale Kasler
dkasler@sacbee.com
February 9, 2016 – 10:18 AM

  • Purchase is one of largest real estate investments in fund’s history
  • Almost fully leased, building represents conservative strategy

CalPERS has completed one of the biggest real estate investments in its history, purchasing a New York office tower for $1.9 billion.

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The Sun: How the former Rialto Airport will be developed

Rialto-Seal

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 02/07/16 – 4:20 PM PST |

RIALTO >> One of the larger redevelopment projects in the Inland Empire is currently taking shape in and around the former Rialto Airport, with developers in discussions with potential tenants and city officials eager to usher in new housing, job and revenue opportunities.

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Daily Press: Hesperia City Council approves Tapestry Project

hesperia_logo

5-0 votes pave way for massive housing development

By Rene Ray De La Cruz, Staff Writer
Posted Jan. 26, 2016 at 12:01 AM – Updated at 10:54 PM

HESPERIA — During a boisterous and historic public meeting, a standing-room-only crowd at City Hall watched as the City Council voted to approve the massive Tapestry Project on Tuesday night.

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Daily Press: Council expected to vote on Tapestry Tuesday

hesperia_logo

By Rene Ray De La Cruz, Staff Writer
Posted Jan. 24, 2016 at 1:05 PM

HESPERIA — After a year of discussion and debate by the public, the City Council is finally expected to vote on the proposed Tapestry project on Tuesday at City Hall.

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Capitol Public Radio: Change To Prop. 13 Could Be Headed For November Ballot

Capitol Public Radio

Ben Adler
Tuesday, January 19, 2016 | Sacramento, CA

California voters could be asked this fall to touch what’s been an untouchable law: the property tax initiative known as Proposition 13. A potential November ballot proposal would raise taxes on the state’s highest-value properties and spend the money on anti-poverty programs.

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The Sacramento Bee: Dan Walters: State’s big housing dilemma

Dan Walters

By Dan Walters
dwalters@sacbee.com
January 16, 2016 9:54 AM

  • California falls short in meeting housing demand
  • Shortage pushes costs, especially rents, sky-high
  • Politicians talk about it, but do little

It’s time once again for some fun with numbers, in this case the data on California’s serious – and worsening – housing crisis.

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The Sacramento Bee: California’s taxable property passes $5 trillion

BOE

Capitol Alert
By Dan Walters
dwalters@sacbee.com
December 14, 2015

  • Property taxes should top $57 billion
  • Placer County has highest increase

The value of all taxable real estate in California has surpassed $5 trillion, according to the state Board of Equalization.

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The Press-Enterprise: MORENO VALLEY: World Logistics Center foes seek a vote

Moreno Valley seal

Published: Dec. 7, 2015 – Updated: 11:41 p.m.

A group of Moreno Valley residents have launched a petition drive with the goal of overturning three city-adopted initiatives aimed at protecting the World Logistics Center from environmental challenges.

To read article by Michael J. Williams in The Press-Enterprise, click here.

The Press-Enterprise: REAL ESTATE: FHFA holds pat on mortgage loan limits

The Federal Housing Finance Agency (FHFA) Logo (PRNewsFoto/FHFA)

Federal Housing Finance Agency holds pat on mortgage loan limits in 2016, a move California Realtors say will make homebuying more difficult for first-time buyers.

Published: Dec. 4, 2015 – 4:42 p.m.

Put another crimp in the belt for housing unaffordability in California.

The Federal Housing Finance Agency recently said it will keep the 2016 maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac at $417,000 on one-unit properties, and raised the cap to $625,500 in only four high-cost regions.

To read article by Debra Gruszecki in The Press-Enterprise, click here.

Housing Prices

Capitol Alert
By Dan Walters
walters@sacbee.com
December 4, 2015

  • Median home prices in state are up 45 percent in four years
  • Property taxes will rise just 1.525 percent due to low inflation
  • Property taxes may be a hot political issue next year

California’s home prices have been escalating sharply as the state recovers from recession, but property taxes on those homes will rise only slightly, reports from two state agencies indicated Friday.

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World Logistics Center

They file 48,000 signatures for ballot measures to fight challenges to the proposed World Logistics Center warehouse complex.

Published: Nov. 16, 2015 – Updated: 10:23 p.m.

Supporters of the World Logistics Center turned in about 48,000 signatures Monday for three ballot initiatives aimed at thwarting legal challenges to a 40.6 million-square-foot warehouse complex that would transform the city’s eastern side.

To read article by Imran Ghori in The Press-Enterprise, click here.

The Sun: San Bernardino chooses developer for Carousel Mall

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 11/03/15 – 12:38 AM PST |

SAN BERNARDINO >> A plan to dramatically redevelop the 42.6 acres downtown where Carousel Mall has sat since 1973 took a big step forward Monday when the City Council unanimously entered an exclusive negotiation agreement with two companies to develop the mall and adjacent Theater Square area.

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calpers

CalPERS was a pioneer among public pension funds in investing in private real estate.

Dean Starkman
October 23, 2015

The Achilles’ heel of the vast CalPERS fund has been its real estate portfolio, but there are signs that the long-troubled segment is finally turning around.

Read the rest of this entry »

The Sun: California housing will get even less affordable, UCLA forecast says

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By City News Service
Posted: 09/28/15 – 4:32 PM PDT |

Housing in California — already considered unaffordable to many — will become even less affordable over the next two years, with construction unable to keep up with demand, according to a UCLA economic forecast released Monday.

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The Sacramento Bee: Jerry Brown signs new post-redevelopment bill

Jerry Brown

Capitol Alert
By David Siders
dsiders@sacbee.com
September 22, 2015

  • Legislation gives local agencies ways to pay for projects once funded by redevelopment

Four years after approving legislation that ended the anti-blight redevelopment program in California, Gov. Jerry Brown on Tuesday signed a bill giving local agencies a way to pay for similar projects.

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The Sacramento Bee (AP): California home prices, sales cool in August

For Sale

Business & Real Estate
By Elliot Spagat, Associated Press
September 17, 2015

San Diego–

California’s summer housing rally cooled in August, a research firm said Thursday, as tight supplies kept a lid on sales and more buyers found prices out of reach.

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Riverside-County-Seal

The county is the first to announce legal action over the massive warehouse, but the city of Riverside won’t go to court.

Updated: Sept. 16, 2015 – 7:28 a.m.

Riverside County supervisors have voted to sue Moreno Valley over the World Logistics Center, saying plans for the massive warehouse complex don’t adequately address traffic concerns.

To read article by Jeff Horseman in The Press-Enterprise, click here.

Daily Bulletin: Rising housing prices drive down affordability

New Home Construction

Workers build single-family homes at the Rosedale housing project in Azusa in this Feb. 26, 2013 file photo. (SGVN/Staff photo by Leo Jarzomb)

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 08/20/15 – 6:34 PM PDT |

Rising home prices across California have eroded affordability to the point that only seven counties, including San Bernardino, have housing that a family earning the median income can afford to buy, according to a study released Thursday.

Read the rest of this entry »

Moreno Valley seal

“This project is a game-changer of proportional magnitude not only for the city but the entire region,” said Mayor Jesse Molina, who was one of three supporters. Council members George Price and LaDonna Jempson opposed the project.

Published: Aug. 19, 2015 – Updated: 11:50 p.m.

After three years of controversy that has divided residents, Moreno Valley officials voted Wednesday, Aug. 19 to dramatically transform the city’s east side with what would be one of the largest warehouse complexes in the country.

To read article by Imran Ghori in The Press-Enterprise, click here.

Moreno Valley seal

Tuesday’s meeting became heated after residents hurled insults at each other, prompting Moreno Valley’s mayor to call for calm.

Published: Aug. 18, 2015 – Updated: 9:47 p.m.

Supporters and opponents of the World Logistics Center squared off Tuesday night as the Moreno Valley City Council aimed for a vote Wednesday on the massive warehouse project.

To read story by Imran Ghori in The Press-Enterprise, click here.

Home for sale

By Andrew Khouri
August 18, 2015

The Southern California housing market is enjoying a summer almost as hot as the weather.

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Iddo Benzeevi

City staff and developer Iddo Benzeevi offer to the council their vision of thousands of local jobs and a hub of logistics activity — “the gateway to America,” Benzeevi said.

Published: Aug. 17, 2015 – Updated: 11:17 p.m.

Moreno Valley began weighing two contrasting visions of the city’s future Monday, Aug. 17, as the City Council took up the proposed World Logistics Center mega-warehouse.

To read article by Imran Ghori in The Press-Enterprise, click here.

The Sacramento Bee: Dan Walters: California has big housing shortage

Dan Walters

By Dan Walters
dwalters@sacbee.com
August 8, 2015

  • California needs at least 150,000 new units a year
  • Current production is just two-thirds of that
  • Should developers be required to provide low-income housing?

California’s severe housing crisis is easy to describe – supply too low, prices too high.

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IE Business Daily: Antidevelopment Fervor Reincarnated in East Valley

IE Business Daily

August 1, 2015

New housing construction in east San Bernardino Valley has carefully and methodically reemerged from the recession. Encouraged by record low interest rates, lower developable land prices, and higher housing demand, local leaders in the housing industry are again building houses.

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The Lou Desmond & Company Show: Home Values Up, Donald Trump, Hillary Clinton

Lou Desmond

Friday, July 17, 2015 – 03:00 p.m.

The Lou Desmond and Company Show is coming to you from the Toyota of San Bernardino Recording Studios!

Tonight, Ed Hoffman, Doctor of Capitalism, joins the show to talk about the rising home values and sales in the Inland Empire and the shooting in Chattanooga, Tennessee. After that, they discuss Donald Trump. Ed likes him, Lou does not. But why is his popularity climbing?

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By Sarah Favot, Los Angeles Daily News
Posted: 07/16/15 – 7:33 PM PDT |

Fueled by an increase in home sales, the assessed value of all taxable property in Los Angeles County rose 6.13 percent in 2015 — the largest jump since 2010 — the county assessor reported Thursday.

Read the rest of this entry »

Home for sale

By Andrew Khouri
July 16, 2015

The Southern California housing market, known for its dramatic swings, is settling into a more normal, healthy pattern.

Read the rest of this entry »

Moreno Valley seal

Moreno Valley’s elected leaders may start discussing the project as early as July 15.

Published: July 1, 2015 – Updated: 11:29 p.m.

Developer Iddo Benzeevi cleared an important hurdle Tuesday night, winning backing from a Moreno Valley panel for his massive World Logistics Center warehouse complex.

But before the first bulldozer starts pushing dirt, the city’s elected leaders will have to sign off on the project that pits the promise of jobs and an economic boost against concerns of traffic and pollution. Most City Council members have received campaign support from Benzeevi, but none will say how they plan to vote.

To read story by Imran Ghori in The Press-Enterprise, click here.

The Sacramento Bee: CalPERS to sell up to $3 billion in real estate

calpers

Business & Real Estate

By Dale Kasler
dkasler@sacbee.com
June 30, 2015

  • Pension fund continues to reshape portfolio
  • Goal is fewer speculative investments

CalPERS said Tuesday it plans to sell up to $3 billion worth of real estate as it continues to overhaul its investment portfolio.

Read the rest of this entry »

The Sun: Reports detail housing woes for Southern California residents

Housing Market

By Kevin Smith, San Gabriel Valley Tribune
Posted: 06/28/15 – 4:23 PM PDT |

The Southern California real-estate market is feeling the sting of a changing climate, as a pair of new reports finds renters, would-be homebuyers and black households losing ground in the face of competition from investors and a widening racial wealth gap.

Read the rest of this entry »

The Press-Enterprise: FORECLOSURE: Zombie properties dog Inland region

foreclosure_0204

Such properties continue to haunt Inland region; but by sheer numbers, the homes that are vacant from the time of bank repossession to occupancy are fading.

Published: June 18, 2015
Updated: June 19, 2015 – 7:54 a.m.

Zombie properties continue to dog the Inland region, but their numbers are dwindling.

To read story in The Press-Enterprise, click here.

Los Angeles Times: Southern California home sales, prices up in May

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By Andrew Khouri
June 17, 2015

Southern California home prices rose slightly in May, while sales jumped during the busy spring buying season.

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wells fargo logo

jpmorganchase2

Wells Fargo, JPMorgan Chase and four other banks are still not meeting standards in handling troubled mortgage borrowers, federal bank regulators say. (Julie Jacobson / Associated Press)

By E. Scott Reckard
June 17, 2015

Four years after pledging to clean up wide-ranging foreclosure abuses, Wells Fargo & Co., JPMorgan Chase & Co. and four other banks still aren’t complying with customer-service standards imposed by a federal regulator.

Read the rest of this entry »

California Supreme Court

By Maura Dolan
June 15, 2015

Citing an affordable housing crisis of “epic proportions,” the California Supreme Court made it easier Monday for cities and counties to require developers to sell some housing at below-market rates.

Read the rest of this entry »

Los Angeles Times: Higher home loan rates are likely as Fed rate hike looms

interest_rates

By Jim Puzzanghera and Andrew Khouri
June 14, 2015

In moving from London at the beginning of the year, Rose-Linn Jensen would have preferred to spend a year getting familiar with the Los Angeles area before buying a home.

Read the rest of this entry »

Moreno Valley seal

Two county transportation officials say a study on the impact of a warehouse project falls short.

Published: June 10, 2015 – Updated: 10:53 p.m.

As the World Logistics Center faces its first public hearing in Moreno Valley on Thursday, June 11, two county transportation agencies became the latest to say the mega warehouse proposal’s environmental analysis is flawed.

To read story by Imran Ghori in The Press-Enterprise, click here.

Proposition 13

By Phil Willon
June 10, 2015

Saying a major “loophole” allows some business to unfairly avoid paying billions of dollars in taxes, two Democratic state senators on Wednesday filed a proposed constitutional amendment to revise Proposition 13, the landmark property tax initiative approved by California voters in 1978.

Read the rest of this entry »

Moreno Valley seal

An environmental report on the proposed project — which would stretch 700 football field — could be vulnerable to court challenges, air board says. The developer, however, sticks by the report.

Published: June 9, 2015
Updated: June 10, 2015 – 8:02 a.m.

State air quality officials say that Moreno Valley’s environmental analysis of a proposed warehousing complex with enough indoor space for 700 football fields is “legally inadequate” and needs major revisions. The developer countered Tuesday that the report “meets all the requirements” of the state’s environmental quality law.

To read story by David Danelski in The Press-Enterprise, click here.

Daily Bulletin: 2015 a big year for warehouse development in the Inland Empire

Warehouse

By Jim Steinberg, San Bernardino Sun
Posted: 06/06/15 – 8:58 PM PDT |

There’s an economic tsunami washing over the Inland Empire and it shows no signs of slowing down, experts say.

Read the rest of this entry »

The Orange County Register: The Buzz: Activists eye Prop. 13 revision

Proposition 13

By Martin Wisckol / Staff Columnist
June 5, 2015 – Updated 11:39 p.m.

Activists are again agitating for a ballot measure that would end Proposition 13 protections for commercial buildings. But while a poll last week shows a bare majority support such a “split roll” plan, a decent campaign by opponents could quickly erode that advantage.

Read the rest of this entry »

Los Angeles Times: Support dwindles for changing Proposition 13

Proposition 13

By Phil Willon
June 3, 2015

Support has dwindled for removing commercial properties from tax limits imposed by Proposition 13, the landmark property tax initiative approved by voters in 1978, according to a new poll by the Public Policy Institute of California.

Read the rest of this entry »

Beacon Economics

A Southern California economist to weigh the question, ‘Housing or Water: Which Shortage Really Matters’ in June 3 event

Published: May 29, 2015 – 5:38 p.m.

Christopher Thornberg, president and founder of Beacon Economics, will be the keynote speaker for the June 3 quarterly luncheon meeting of the Real Estate Research Council of Southern California.

To read story by Debra Gruszecki in The Press-Enterprise, click here.

The Sun: County approves upscale apartment complex in Redlands’ Donut Hole

Crossing at Redlands

The San Bernardino County Board of Supervisors on Tuesday approved The Crossings at Redlands, a 340-unit gated apartment complex in an unincorporated area of Redlands. It will feature a sidewalk coffee shop/cafe, produce market and state-of-the-art fitness center. It is a companion project to the neighboring Circa 2020 apartment complex now under construction. (Courtesy artist rendering)

By Joe Nelson, The Sun
Posted: 05/20/15 – 6:45 PM PDT |

REDLANDS >> In the same vein as Victoria Gardens in Rancho Cucamonga and other mixed-use developments across Southern California, a 340-unit gated apartment complex, with a retail component, has been approved for development in an unincorporated area of this city.

Read the rest of this entry »

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Riverside, San Bernardino county homes sales were up 8 percent last month, the third best April since 2006, according to CoreLogic DataQuick

Published: May 19, 2015
Updated: May 20, 2015 – 11:27 a.m.

Home sales in Inland Southern California continued to flex some muscle in April, restoring optimism in a marketplace that got off to a sluggish start for 2015.

It was the third best April for the Inland region since the housing bust, with 6,109 Riverside and San Bernardino new and existing home and condo sales closing escrow, according to CoreLogic DataQuick’s latest report.

To read story by Debra Gruszecki in The Press-Enterprise, click here.

Voice of OC: State Watchdog to Fine Pulido $13,000 Over Property Swap

Tony Rackauckas+Miguel Pulido

Santa Ana Mayor Miguel Pulido (Right) and Orange County District Attorney Tony Rackauckas.

By Adam Elmahrek
May 11, 2015 at 2:53 PM

Santa Ana Mayor Miguel Pulido has agreed to pay $13,000 in fines to the state’s political watchdog for several violations of state law related to a real estate deal he conducted with a city contractor.

Read the rest of this entry »

The Sacramento Bee: Opinion: Finally, war on Prop. 13 breaks out

Dan Walters

Dan Walters
Observations on California and its politics
dwalters@sacbee.com
May 7, 2015

A political war over taxes that’s been brewing for nearly four decades finally erupted Thursday – maybe.

Read the rest of this entry »

Taxes

May 7, 2015
Capitol Alert
The go-to source for news on California policy and politics
By Dan Walters
dwalters@sacbee.com

A coalition of public employee unions and other liberal groups, including many churches, launched a campaign Thursday to alter Proposition 13, California’s iconic property tax limit, and raise billions of dollars by hiking taxes on commercial property.

Read the rest of this entry »

San Bernardino Seal

By Ryan Hagen, The Sun
Posted: 05/05/15, 3:16 PM PDT |

SAN BERNARDINO >> Four developers are finalists to build on the 43-acre property occupied by Carousel Mall, and most likely, the mall will be demolished to make way for new development, a city official said during a broker roundtable Tuesday.

Read the rest of this entry »

Straight Face Emoticon

Eight of 10 fastest-moving real estate markets are in California; four are on the southern coast; The Inland area ranks No. 35 according to Trulia online real estate service

Published: April 28, 2015 – Updated: 4:10 p.m.

The Inland Southern California housing market, a bastion for bargain home sales when foreclosures peppered the region, has had a lethargic sales pace in 2015, a new Trulia report shows.

To read story by Debra Gruszecki in The Press-Enterprise, click here.

Home Construction

The slow pace of homebuilding will hurt California by driving millennials out of state to buy, according to a gloomy assessment by California Association of Realtors CEO Joel Singer. (Dennis McCoy | Sacramento Business Journal)

Ben van der Meer
Staff Writer-Sacramento Business Journal
Apr 23, 2015 – 2:28pm PDT

The slow pace of homebuilding will hurt California by driving millennials out of state to buy, according to the CEO of the California Association of Realtors.

Read the rest of this entry »

Lou Desmond

Wednesday, April 15, 2015 – 05:00 p.m.

Tonight on the show, Lou is joined by Bob Mink, his former pastor, to discuss the rise in exorcisms being performed in England.

Read the rest of this entry »

The Sun: Massive office space sale sets record in Inland Empire

Lakeside Tower

Lakeside Tower is among 17 buildings that are part of the Tri-City Corporate Centre complex that was sold to new owners as part of the largest office space in Inland Empire history, according to the real estate brokerage firm CBRE. (Courtesy photo)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 04/12/15, 7:48 PM PDT

In another sign of the region’s rebounding economy, the largest sale of office space in Inland Empire history, according to CBRE, the Los Angeles-based real estate brokerage company that facilitated the deal, closed last month.

Read the rest of this entry »

Sacramento Bee: Opinion: California’s housing squeeze divides the state

Dan Walters

Observations on California and its politics
By Dan Walters
dwalters@sacbee.com
03/17/2015 – 9:56 PM

California’s unfortunate evolution into a society of haves and have-nots has many root causes, but a highly distorted housing market looms very large.

Read the rest of this entry »

Daily Bulletin: Southern California home sales still sliding, prices still rising

For Sale

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 03/17/15, 9:43 AM PDT | Updated: 1 min ago

Southern California’s consecutive streak of year-over-year home price increases zeroed in on three years during February while the home sales slide moderated, a market tracker said Tuesday.

Read the rest of this entry »

InlandPolitics: Logistics industry hurts Inland Empire real estate market

Logistics

The Inland Empire is rapidly becoming the next low-wage warehouse mecca.

Sunday, March 8, 2015 – 12:00 a.m.

We’ve been hearing it for the past few years. All of those great warehouse jobs coming to the Inland Empire, an area with the nation’s highest poverty rate, will be the driver for the local economy.

Read the rest of this entry »

The PE: MORENO VALLEY: Developer spent more than $500,000 in council races

Moreno Valley seal

Iddo Benzeevi’s four independent committees outpaced by far campaign expenses of all other candidates.

Published: Feb. 25, 2015 – Updated: 9:50 p.m.

Campaign spending by developer Highland Fairview in the November Moreno Valley City Council election topped $500,000, final spending reports show.

To read story by Imran Ghori in The Press-Enterprise, click here.

SFChronicle: California to pay $24 million settlement over state properties

California Seal

By Joe Garofoli
Sunday, February 22, 2015 – Updated 8:20 pm

The state of California will pay $24 million to investors to end a legal battle over a proposed deal to sell $2.3 billion in state properties during the height of California’s fiscal crisis.

Read the rest of this entry »

VVDailyPress: Controversial publisher, land developer Ray Pryke has died

black ribbon

By RENE RAY DE LA CRUZ
STAFF WRITER
Posted Feb. 19, 2015 @ 8:39 pm

HESPERIA — Controversial land developer and newspaper publisher Raymond Pryke has died.

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LATimes: Southern California home sales down, prices flat

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By Tim Logan
February 17, 2015

Southern California’s housing market got off to a slow start for the year in January, with sales down and prices treading water.

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LATmes: Investors snap up luxury hotels amid rising occupancy and room rates

Montage Resort
Luxury hotels such as the Montage Laguna Beach that endured the downturn are now thriving, making them appealing targets for investors. The resort sold last month. (Allen J. Schaben / Los Angeles Times)

By Roger Vincent
February 15, 2015

Pampered guests at the five-star Montage Laguna Beach resort can swim in a lap pool overlooking the Pacific, dine on caviar and sleep on goose-down pillows to a lullaby of crashing waves.

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IEBusinessDaily: Time for Another Prop 13

Proposition 13

By IE Business Daily
January 31, 2015

In 1978, Californians passed Proposition 13 to cap property tax increases at two percent per year. At the time, and as we saw last decade, property values were increasing at such a fast pace, that many people had difficulty keeping up with the doubling and tripling of their property taxes. Seniors on fixed incomes were sometimes forced to sell their homes because the taxation levels exceeded their ability to pay the taxes.

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LATimes: Fannie Mae, Freddie Mac regulator defends 3% down payment mortgages

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By Jim Puzzanghera
January 27, 2015

The regulator for bailed-out housing finance giants Fannie Mae and Freddie Mac told lawmakers Tuesday that new programs to back mortgages with down payments as low as 3% had enough safeguards to make them as safe as loans with higher down payments.

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DailyBulletin: Inland Empire developer Randall Lewis predicts growth in coming years

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By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 01/23/15, 8:53 PM PST |

RANCHO CUCAMONGA >> The head of one of Southern California’s largest development companies predicted local economic growth in the coming year in a keynote speech in front of hundreds of real estate brokers at the Goldy S. Lewis Community Center in Rancho Cucamonga on Friday.

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InlandPolitics: San Bernardino places Carousel Mall up for sale

San Bernardino Seal

Wednesday, January 14, 2015 – 10:30 a.m.

The bankrupt city of San Bernardino has placed the dormant Carousel Mall up for sale.

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Orange Juice Blog

Monday, December 29, 2014 – 12:30 p.m.

Our friends at The Orange Juice Blog have penned their final compelling summation of the events surrounding two go-nowhere District Attorney investigations into a coordinated effort to engineer the sale of the Orange County Fairgrounds to developers.

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The Sun: Inland Empire home sales expected to pick up in 2015

Home Construction

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 12/21/14, 7:35 PM PST |

The Inland Empire’s housing market — dormant for the better part of the past decade — appears to be stirring, with new construction sites sprouting throughout the region, and sales are underway in the first post-recession development in Ontario’s ambitious New Model Colony, where as many as 50,000 new homes are expected to be built over the next 20 years.

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LATimes: Southland home prices hit plateau

For Sale

The California Assn. of Realtors is predicting prices will grow 5.2% statewide next year, the slowest pace since 2011.

By Tim Logan
December 15, 2014

After a furious run-up in home prices in 2013, the Southern California housing market flattened out this year — setting the stage for slow but steady growth next year.

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LATimes: Fannie Mae, Freddie Mac detail plans for 3% down-payment mortgages

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On Monday, Fannie Mae and Freddie Mac announced details of programs to back mortgages with down payments as low as 3%.

By Jim Puzzanghera, E. Scott Reckard
December 9, 2010

Housing finance giants Fannie Mae and Freddie Mac on Monday detailed plans to once again back mortgages with down payments as low as 3%, saying the move to make home ownership more accessible contains safeguards to protect against abuses that led to the subprime housing market crash.

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LATimes: Big state tax decisions lie ahead for California voters

Los Angeles Skyline

A tough battle is expected over an attempt to change how the state’s 36-year-old landmark property tax initiative, Proposition 13, treats commercial property, said Rex Hime, president of the California Business Properties Assn. (Scott Harrison)

By Marc Lifsher
November 27, 2014

Picking a new president might not be the only crucial issue before California voters at the polls in two years’ time.

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