Category Archives: Real Estate

San Diego Real Estate – Commercial, Residential and Investment property in San Diego California

Rents Already Dropping Like a Rock, Home Values to Follow

Rents Already Dropping Like a Rock, Home Values to Follow

According to an article posted the other day on the Los Angeles Fox 11 newsite at FoxLA.com, rents are already dropping in the Los Angeles region due to the effects of the Corona Virus or Covid-19. Over two weeks ago, shortly after the first stay at home order, I predicted that both rents and property values would be dropping very quickly.

The last line in their article is extremely telling:

“But for now, if your rent is not going down, you may want to talk to your landlord or look around for a better deal, because you may get it.”

Over 10 days ago, I wrote my first email asking a landlord for either a suspension of rent or a reduced rate. They came back with a “COVID-19 Hardship Consideration” form, which was obviously drawn up by the attorneys for the Southern California Rental Housing Association (and revised or drawn up, the same day 3/31/20).

This Covid-19 Hardship Consideration form, makes zero concessions except for considering to provide ‘accommodations’ for reduced rent until the eviction moratorium is lifted at which time the full amount of the rent would be due or the tenant would face eviction. They fail to recognize that due to the Stay at Home Order, many people have lost their entire incomes and in many cases, their jobs.

What landlords need to realize is that their properties are not worth the rental income they were getting even one month ago …

They are going to be finding very quickly that they will not be able to continue to charge rents like they were in 2019 and beyond. Rents will be dropping FAST and landlords should be contacting their lending institutions to get their payments deferred or contracts renegotiated. Some may choose to walk away. Many will be hearing from their tenants who will be choosing to do the same.

If you are a tenant or a landlord who needs help negotiating and coming up with creative, mutually beneficial ways to get through this crisis and stay in your home, please give me a call. I can – and want to, help.

Kilroy Realty Corporation Wins 2020 ENERGY STAR Partner of the Year Sustained Excellence Award

Kilroy Realty Corporation Wins 2020 ENERGY STAR Partner of the Year Sustained Excellence Award

Kilroy Realty Corporation announced today that the U.S. Environmental Protection Agency (EPA) has for the seventh year in a row recognized KRC as an ENERGY STAR Partner of the Year. In addition, the EPA has also recognized KRC for the fifth time with its Sustained Excellence designation. EPA’s annual ENERGY STAR Awards honor organizations that… Continue Reading

Houston’s Aliana Master-Planned Community Ranked Top 30 in US Sales

Houston’s Aliana Master-Planned Community Ranked Top 30 in US Sales

Aliana, a 2,000-acre master-planned community located in Richmond, TX announced today it has been ranked in the Top 30 in sales nationally for master-planned communities (MPCs) by real estate consulting firms RCLCo and John Burns. Aliana sold 430 new homes in 2018, ranking it fifth in the state in new home sales. Continue Reading

Unbound Collection by Hyatt Adds Hotel Sofia Barcelona

Unbound Collection by Hyatt Adds Hotel Sofia Barcelona

Hyatt Hotels Corporation recently announced that Hotel SOFIA Barcelona is joining The Unbound Collection by Hyatt, becoming the first Hyatt hotel in Barcelona and third property in Spain. The 465-room hotel is located on the Avenida Diagonal, one of Barcelona’s main avenues in the heart of the city. Originally named after Princess Sofia, wife to the former… Continue Reading

Who Bought the Grand Hotel in Minneapolis for $30 Million?  Did They Get a Deal?

Who Bought the Grand Hotel in Minneapolis for $30 Million? Did They Get a Deal?

Grand Hotel in Minneapolis Sold by Pebblebrook Hotel Trust at a Loss Yesterday I received the following press release entitled “Pebblebrook Hotel Trust Completes Sale of the Grand Hotel Minneapolis”.  But curiously, the release does not mention who purchased the property – or what brokers were involved.  It’ also interesting that the hotel’s website appears… Continue Reading

San Diego Start-Up We Buy Fugly Houses Seeks Fixers All Over San Diego County

We Buy Fugly Houses Breaks into San Diego Fix and Flip Real Estate Market We Buy Fugly Houses (online at www.WeBuyFuglyHouses.re), a San Diego-based real estate start-up, is building out a nationwide real estate investors network, beginning with a focus on buying, remodeling and flipping houses, condos and apartment buildings all over San Diego County. Continue Reading

Berkshire Hathaway HomeServices Applauds Eight NAHREP Awarded Agents

Berkshire Hathaway HomeServices Applauds Eight NAHREP Awarded Agents

Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, congratulated eight network sales professionals for ranking among the top 250 Latino agents by number of transactions in the U.S., as tracked by the National Association of Hispanic Real Estate Professionals® (NAHREP®). Berkshire Hathaway HomeServices Applauds Eight NAHREP Awarded… Continue Reading

HFF Announces Sale of Willow Creek Corporate Center

HFF Announces Sale of Willow Creek Corporate Center

HFF announces the sale of Willow Creek Corporate Center, a seven-building, Class A office park in the thriving tech submarket of Redmond, Washington. HFF Announces Sale of Willow Creek Corporate Center The HFF team represented the seller, and procured the buyer, Preylock Real Estate Holdings. Willow Creek Corporate Center comprises 421,785 square feet spread across… Continue Reading

Here’s How You Can Create the Perfect Office Space

Finding the perfect office space is one thing. Turning it into the ideal workable space is a whole other task. The layout and design of the area are what can genuinely attract an employee not just to come and work for you, but to enjoying working there. Walking into an office that is dark, crammed… Continue Reading

We Buy Fugly Houses Seeks Distressed Properties in San Diego County

We Buy Fugly Houses Seeks Distressed Properties in San Diego County

We Buy Fugly Houses buys distressed properties all over San Diego County! We Buy Fugly Houses are actively looking for homes that need to be repaired, remodeled, finished, completed.  San Diego houses, condos, apartments, duplexes, tri-plexes, multiple units and more. We Buy Fugly Houses specializes in San Diego investment properties where we can add immediate… Continue Reading