Archive for the ‘ Real Estate ’ Category

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

Up Arrow

By Andrew Khouri
June 17, 2015

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

Read the rest of this entry »

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 »

Up Arrow

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.

Read the rest of this entry »

LATimes: Southern California home sales down, prices flat

down-arrow

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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

freddie-mac-fannie-mae-logo

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.

Read the rest of this entry »

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

Lewis-Group-of-Companies

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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.

Read the rest of this entry »

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

freddie-mac-fannie-mae-logo

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.

Read the rest of this entry »

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.

Read the rest of this entry »

InlandPolitics: An interesting “No-Contest” drug charge (Update -1-)

Cocaine

Thursday, November 20, 2014 – 01:30 p.m.
Last Modified: Saturday, November 22, 2014 – 11:15 a.m.

It appears a player in Inland Empire political races “quietly” hit a bump in the road last year.

Read the rest of this entry »

UTSanDiego: Why millennials don’t buy homes

Millennials

By Jonathan Horn
Nov. 14, 2014 – 01:47 p.m.

Whether it’s a scar from the Great Recession, being overwhelmed with student loan debt, or having the ability to move for a career, America’s generation of young professionals just aren’t buying homes the way their parents did, a UBS executive said in La Jolla Thursday.

Read the rest of this entry »

LATimes: Southland housing market mellows as sales fall, price growth slows

For Sale

After years of boom and bust, home prices and sales in Southern California are now responding to the very thing they should: job and income growth, not loose lending standards or investors, economists and real estate analysts say.

By Andrew Khouri
November 12, 2014

The Southern California housing market took a step back last month, as home sales fell and price gains slowed. But homeowners shouldn’t despair and would-be buyers might even rejoice, analysts say.

Read the rest of this entry »

LATimes: First-time home buying hits lowest level in nearly three decades

Home for sale

A home for sale in Huntington Beach in May. Just one-third of homes bought this year went to first-time buyers, the lowest rate since 1987. (Bryan Chan / Los Angeles Times)

Tim Logan
November 3, 2014

First-time home buyers aren’t buying homes like they used to.

Read the rest of this entry »

LATimes: Mortgage rates sink; 30-year averages 3.92%, Freddie Mac says

interest_rates

By E. Scott Reckard
October 23, 2014

The lowest mortgage rates of the year sank a bit lower this week, with Freddie Mac reporting that lenders were offering 30-year fixed loans at an average of 3.92%, down from 3.97% a week ago.

Read the rest of this entry »

LATimes: Fannie Mae, Freddie Mac reach deal to ease mortgage lending

freddie-mac-fannie-mae-logo

Fannie Mae and Freddie Mac are the biggest pillars of support for U.S. housing, guaranteeing 59% of all mortgages being written.

By E. Scott Reckard and Tim Logan
October 17, 2014

Mortgage financing giants Fannie Mae and Freddie Mac, together with their federal regulator, have drawn up rules aimed at loosening constricted lending standards to make mortgages more affordable and easier to get for those with less than stellar credit.

Read the rest of this entry »

LATimes: Home sales post gains

For Sale

Higher prices have pushed many investors and cash buyers out of the market, while still-low interest rates and an improving economy are luring more so-called regular buyers. Above, a home for sale in Long Beach. (Cheryl A. Guerrero / Los Angeles Times)

By Tim Logan
October 13, 2014

Southern California’s housing market is starting to pick up the pace.

Home sales in the six-county Southland grew for the first time in a year in September as prices moderated from last year’s torrid gains, according to figures out Monday.

Read the rest of this entry »

SBCO Seal

By Joe Nelson, The Sun
Posted: 10/07/14, 4:17 PM PDT |

SAN BERNARDINO >> After 25 years of repeated attempts to get passed in San Bernardino County a property tax relief program for new homebuyers, the Board of Supervisors on Tuesday finally approved an ordinance.

Read the rest of this entry »

Home Construction

Construction workers pour a concrete slab for a home under construction in Rancho Cucamonga on Wednesday. The median price for a single-family home in the Inland Empire rose 16.5 percent, to $267,000, in the space of a year. (Will Lester – staff photographer)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 10/01/14, 8:05 PM PDT | Updated: 1 min ago

A new report on the Inland Empire economy released Wednesday by the Los Angeles-based economic research firm Beacon Economics finds home prices rising in a region experts say is a major growth area for the state.

Read the rest of this entry »

Housing Bubble

Los Angeles and Orange Counties are two of the three most overvalued housing markets in the country, according to a new report from Trulia.

By Tim Logan
October 2, 2014

Southern California’s housing markets are among the most overvalued in the nation, according to a new report. But the closest thing in this country to a housing bubble is actually in Texas.

Read the rest of this entry »

LATimes: Pending home sales dip in August as investors pull back

Home for sale

Pending home sales slowed a bit in August, a real estate trade group reported Monday. (Bryan Chan / Los Angeles Times)

By Tim Logan
September 29, 2014

The number of people who signed contracts to buy homes in August dipped slightly, though it remains near its highest level in a year.

Read the rest of this entry »

National Community RenaissanceSan Bernardino Seal

By Ryan Hagen, The Sun
Posted: 09/25/14, 4:58 PM PDT |

SAN BERNARDINO >> The first phase of revitalizing the affordable housing at Waterman Gardens is clear to begin after it received $12 million in state tax credits Thursday.

Read the rest of this entry »

CPR: California Property Taxes Could Skyrocket

taxes

Katie Orr
Monday, September 22, 2014 | Sacramento, CA |

Proposition 13 regulates property tax values in California by limiting increases to 2 percent annually. But homeowners could see larger increases this year thanks to another, lesser-known proposition.

Read the rest of this entry »

LATimes: California bouncing back after a slow start to 2014, report says

Home Construction

A new report from Beacon Economics and City National Bank points to a comeback in the Inland Empire. Above, homes being built in Rancho Cucamonga. (Gina Ferazzi / Los Angeles Times)

Economic comeback in the Inland Empire helps drive California recovery, report says
September 15, 2014

The economic recovery in California struggled through the first half of the year but now is picking up speed, driven by improvements in the real estate and the job markets, according to a quarterly report from Beacon Economics and City National Bank.

Read the rest of this entry »

DailyBulletin: Final closure of Rialto Municipal Airport is now almost guaranteed

Rialto-Seal

The Rialto Municipal Airport is set to close Thursday to pave way for a redevelopment project that includes residential and commercial buildings and a retail center.

By Leslie Parrilla, San Bernardino Sun
Posted: 09/14/14, 8:47 PM PDT |

It’s nearly guaranteed this time, after more than 10 years in the works, the shuttering of the Rialto Municipal Airport, as officials send notice to the Federal Aviation Administration of a final shut down next week.

Read the rest of this entry »

LATimes: Housing price cuts point to a shift in Southland market

For Sale

Housing price reductions are rising in the Southland

By Tim Logan, Andrew Khouri

The latest sign that buyers are gaining leverage in Southern California’s housing market: Price cuts are back.

Read the rest of this entry »

For Sale

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 09/11/14, 11:32 AM PDT | Updated: 9 hrs ago

Southern California’s housing market chilled out in August with sales sinking to a four-year low for the month while the median price rose to a post-recession high, CoreLogic DataQuick reported Thursday.

Read the rest of this entry »

LATimes: Equity credit lines are making a comeback as home prices rise

Hmmm

By Kenneth R. Harney
August 31, 2014

WASHINGTON — If you’ve got it, tap it. That appears to be the strategy for growing numbers of homeowners across the country who have begun taking out home equity credit lines at a rapidly accelerating pace.

Read the rest of this entry »

SacBee: California pensions, consumers get $800 million from Bank of America case

Bank of America

By Dale Kasler
dkasler@sacbee.com
Published: Thursday, Aug. 21, 2014 – 8:29 am
Last Modified: Friday, Aug. 22, 2014 – 7:55 am

California homeowners and pension funds will receive $800 million from Bank of America Corp., the state’s share of a record-breaking settlement over toxic mortgages issued and packaged as investment securities during the housing bubble.

Read the rest of this entry »

LATimes: L.A.-O.C. housing market is least affordable in U.S., Zillow says

Up Arrow

Prices have grown much faster than incomes in the last few years, a Zillow research director said. That’s pushing L.A. housing out of reach for many.

By Tim Logan
August 20, 2014

Los Angeles and Orange counties are the least-affordable housing market in the country. And it’s likely to only get worse.

Read the rest of this entry »

DailyBulletin: Southern California home sales fall, median price drops

Home for sale

A for-sale home in the 3200 block of Hacienda Drive in Duarte is shown here. Southern California home sales hit a three-year low for the month of July, hampered by rising prices, a limited supply of homes and a decrease in investor activity. (Photo by Watchara Phomicinda/ San Gabriel Valley Tribune)

By Kevin Smith, San Gabriel Valley Tribune
Posted: 08/14/14, 8:18 PM PDT |

Southern California home sales hit a three-year low for the month of July and the region’s median home price dipped to $413,000, industry tracker CoreLogic DataQuick reported Wednesday.

Read the rest of this entry »

interest_rates

By E. Scott Reckard
August 14, 2014

The cost of getting a home loan has slipped back to the lowest level of the year, with Freddie Mac pegging the average rate for a 30-year fixed mortgage early this week at 4.12% compared to last week’s 4.14%.

Read the rest of this entry »

LATimes: Southern California home sales plunge in July

down-arrow

By Andrew Khouri
August 13, 2014

Southern California home sales plunged in July and show little signs of rebounding. And that, economists say, could stunt the region’s economic growth.

Read the rest of this entry »

InlandPolitics: S.B. County: Past agreement rears its ugly head

SBCO Seal

Saturday, August 9, 2014 – 11:00 p.m.
Last Modified: Sunday, August 10, 2014 – 10:15 a.m.

A shady agreement from San Bernardino County’s past reared its ugly head this week.

Read the rest of this entry »

The PE: INLAND: Home construction industry building momentum

Home Construction

Builders are reviving Inland housing projects in master-planned developments derailed by the recession. Development areas include Riverside, Chino, Temecula, Ontario, Banning/Beaumont, Coachella, Calimesa, Lake Elsinore, Menifee, Murrieta, Rancho Cucamonga, San Jacinto, Redlands.

BY DEBRA GRUSZECKI / STAFF WRITER
Published: Aug. 9, 2014 Updated: 7:57 p.m.

Across the Inland region, developers are looking with renewed interest at thousands of acres where residential communities were approved or under construction when the recession hit – but never finished.

From Temecula and Riverside to Redlands and Ontario and beyond, construction crews are at work on developments that had languished for years as the Inland region crawled through economic hard times.

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

The PE: REAL ESTATE: Rising home prices take noticeable bite out of buying power

Home-Sales-R

While home prices have rise risen, income gains have not kept pace

Published: Aug. 8, 2014 Updated: 10:31 p.m.

Home affordability is a growing concern in Southern California, so much so that some real estate analysts are watching for signs of a post-recession housing bubble.

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

VVDailyPress: Valles, McEachron join Victorille’s lot-size focus group

MacEachron+Valles

Victorville Mayor Pro Tem Ryan McEachron left. Council Member Angela Valles right.

SHEA JOHNSON
STAFF WRITER
Posted Aug. 7, 2014 @ 5:07 pm
Updated Aug 7, 2014 at 7:03 PM

VICTORVILLE — Councilwoman Angela Valles, the most vocal proponent of increasing new single-family residential lot sizes to quell concerns linked to the city’s high-density makeup, agreed this week to be part of a joint focus group tasked with tackling the issue.

Read the rest of this entry »

Bank of America

FILE – In this Jan. 14, 2014, file photo, a Bank of America sign is photographed in Philadelphia. A person familiar with the matter says Bank of America has agreed to pay between $16 billion and $17 billion to settle an investigation into its sale of mortgage-backed securities before the financial crisis. (AP Photo/Matt Rourke, File)

By Kevin Smith, San Gabriel Valley Tribune

Posted: 08/06/14, 7:20 PM PDT | Updated: 1 min ago

Bank of America has tentatively agreed to pay up to $17 billion to settle an investigation into its sale of toxic mortgage-backed securities leading up to the nation’s financial crisis, an insider said Wednesday.

Read the rest of this entry »

calpers

By Dale Kasler
dkasler@sacbee.com
Published: Wednesday, Aug. 6, 2014 – 11:24 pm

California officials are threatening to sue investment bank Morgan Stanley over a series of toxic real estate investments that allegedly cost CalPERS nearly $200 million.

Read the rest of this entry »

The Sun: Inland Empire housing market still in flux

Arrow

By Gregory J. Wilcox, Los Angeles Daily News
Posted: 07/27/14, 6:24 PM PDT | Updated: 1 min ago

It was supposed to be a breakout year for home sales.

But after years of recession that bulldozed the Inland Empire housing market, there are still glitches in the road to recovery.

Read the rest of this entry »

LATimes: Housing labor shortage turning more severe, boosting home prices

Home Construction

By Lew Sichelman
July 26, 2014

If your builder is late delivering your new house, don’t be too upset. You are not alone. New home buyers almost everywhere are probably experiencing the same thing.

Read the rest of this entry »

Economy

By Bernard Condon
Associated Press
Posted: 07/22/2014 11:58:06 AM PDT0 Comments
Updated: 07/22/2014 04:52:56 PM PDT

NEW YORK — Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Read the rest of this entry »

The PE: RANCHO MIRAGE: Is Obama buying a home?

Barack Obama

Speculation is swirling that the first family is purchasing a $4.25 million, 8,232-square-foot hilltop estate in the gated community of Thunderbird Heights. (Terry Pierson/Staff Photograher)

Published: July 21, 2014 Updated: July 22, 2014 9:59 a.m.

More than a month after President Barack Obama vacationed in the opulent desert community of Rancho Mirage, speculation is again swirling that the first family is in the process of buying a home there.

To read story by Luke Ramseth in the Press-Enterprise, click here.

DailyBulletin: Restaurant development moving forward in Inland Empire

Colonies Crossroads Shopping Center

Restaurant development across the Inland Empire is on the rise as the economy improves. Panera Bread, Pick Up Stix, Chipotle and The Habit are among the new offerings at The Colonies Shopping Center in Upland. (Neil Nisperos — Staff)

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 07/09/14, 9:43 PM PDT |

Newer large shopping centers in the region have opened with a slate of new eateries in the past year and more may arrive in the coming months.

The trend indicates a return to normalcy for the regional economy, as restaurant construction and openings had stagnated during the recession and business slowdown.

Read the rest of this entry »

The PE: RIVERSIDE COUNTY: Property values rise significantly

Riverside-County-Seal

The increase of roughly 8 percent is the highest since 2007, thanks in large part to higher home prices and fewer foreclosures

Published: July 5, 2014 Updated: 9:55 p.m.

Boosted by higher home prices and fewer foreclosures, the overall value of property in Riverside County will rise almost 8 percent this year, the largest percentage increase since before the Great Recession.

To read story by Jeff Horseman in the Press-Enterprise, click here.

Lewis-Group-of-Companies

BY DEBRA GRUSZECKI / STAFF WRITER
Published: July 3, 2014 3:37 p.m.

Woodside Homes, a North Salt Lake City, Utah-based homebuilder with a presence in Inland Southern California, has purchased 291 lots in two master-planned communities in California from the Lewis Group of Companies, the companies announced.

Read the rest of this entry »

InlandPolitics: This and That!

Edit

Tuesday, June 24, 2014 – 10:00 a.m.

Here’s some news flowing across the transom Tuesday morning, in case you missed it.

U.S. Consumer Confidence Index hits post-recession high

The Consumer Confidence Index hit 85.2 in June, according to the Conference Board.

Read the rest of this entry »

The Sun: Economist: Logistics key to Inland Empire economic growth

Economy - What's Next

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 06/19/14, 7:25 PM PDT | Updated: 16 secs ago

Regional economist Christopher Thornberg, a frequent commentator on national television and print media, told a gathering of the local commercial real estate professionals on Thursday that the warehousing and shipment of goods is going to be the major economic engine for the continued growth of the Inland Empire.

Read the rest of this entry »

The Sun: Affordable housing approved at 9th and Valencia in San Bernardino

National Community Renaissance

By Ryan Hagen, The Sun
Posted: 06/16/14, 10:34 PM PDT | Updated: 1 min ago

SAN BERNARDINO >> The nonprofit group behind the Waterman Gardens Affordable Housing Project will build 75 affordable units at Ninth Street and Valencia Avenue, replacing that number of low-income apartments at Waterman Gardens with ones sold at market rate.

The switch follows a 6-1 vote at Monday’s City Council meeting, with Councilman John Valdivia opposing the plan.

Read the rest of this entry »

InlandPolitics: Could San Bernardino use shuttered hotel for homeless?

San Bernardino City Hall

Sunday, June 15, 2014 – 09:30 a.m.

Could bankrupt San Bernardino use the shuttered Maruko Hotel for the homeless?

It’s an interesting question that proves a point.

Read the rest of this entry »

InlandPolitics: Talk between San Bernardino, developer over downtown mall?

Rumor Mill

Wednesday, June 11, 2014 – 03:00 p.m.

We’ll preface this by saying it’s just a rumor.  A pretty interesting rumor for that matter.

Read the rest of this entry »

DailyBulletin: New neighborhood opens at Colonies in Upland

Frontier Communities

Construction is underway at the new Magnolia Heights neighborhood at the Colonies in Upland earlier this month.

By Neil Nisperos, Inland Valley Daily Bulletin
Posted: 05/23/14, 7:56 PM PDT |

UPLAND >> One of the final pieces of the Colonies development has opened for business.

The new 97-home Magnolia Heights neighborhood has homes ranging in size from 1,829 to 2,331 square feet.

Read the rest of this entry »

The PE: REDLANDS: Homes of all sizes under construction

Redlands

May 10, 2014; 04:52 PM

On a clear day, the view is to die for.

Step onto one of the three decks running across the back of this under-construction house and there lies much of the city of Redlands, the entire San Bernardino Valley and the San Bernardino mountain range from the San Gorgonio Pass to the Cajon Pass and beyond.

To read story by Jan Sears in The Press Enterprise, click here.

LATimes: Mortgage rates defy forecasts

For Sale

Demand for home loans been lower than expected as the housing market has cooled. (Daniel Acker / Bloomberg)

E. Scott Reckard
Friday, May 9, 2014

As 2014 arrived, experts were confident that the 30-year mortgage rate would rise to at least 5% this year as the Federal Reserve cut back a bond-buying program, which had depressed the rates to unheard-of lows in 2013.

Read the rest of this entry »

DailyBulletin: Fewer homes, more industry proposed at Rialto airport property

Lewis-Group-of-Companies

By Leslie Parrilla, San Bernardino Sun
Posted: 05/06/14, 5:59 PM PDT |

RIALTO >> As the closure of the Rialto airport nears reality next month, plans for the major residential and industrial project to replace it are being retooled, possibly to build fewer homes and more retail, while making way for large corporations in search of big lots to build campus-like settings.

Read the rest of this entry »

OCRegister: They’re rebuilding fancy homes, knowing that buyers will come

Business
Creating luxe homes on speculation in hot neighborhoods is gaining steam – and private equity funding helps
BY MARILYN KALFUS / STAFF WRITER
Published: May 2, 2014 Updated: May 5, 2014 6:25 a.m.

When Brian Sperry came across a two-story, waterfront home at the northern tip of Linda Isle with an expansive view of Newport Harbor last year, the real estate developer knew it presented the perfect opportunity. Forty years ago, the two-story house, with its Paso Robles stone columns and dark wood beams, graced the pages of Architectural Digest. Now it was outdated, a candidate for a teardown – but with 113 feet of bay frontage and a dock in one of Orange County’s priciest neighborhoods.

Read the rest of this entry »