20% of US Consumers Working From Home Full Time

 

About 20% of US consumers are working from home full time and a lot of these folks are getting ready to move.  CNBC article:  Remote Workplace

City of San Diego Rank Falls - A Sign of The Times

 

The Times of San Diego has posted up the most recent city rankings in terms of livability, cost of housing, commute times, and other factors that impact the quality of life. San Diego Ranking Falls  A year in lock-down with Covid-19 has caused many urban high-tech workers that have shifted to working remotely to relocate to more affordable communities.  The high cost of housing and slow job growth during the pandemic has caused San Diego's rank to fall. 

The full city ranking report is located here: City Ranking Report

San Diego Case-Shiller Index YTD 2020

 

The Impact of The Covid-19 Pandemic On The Residential and Office Real Estate Markets

 

The Times of San Diego has an interesting article about the impacts being seen in the apartment and office markets as a result of the Covid-19 Pandemic. 

Pandemic Work From Home Impacting Markets Going Into 2021

Photos Of New Amazon Distribution Facility Under Construction in South San Diego County

 

These are some photos of the new Amazon facility and new freeway interchange under construction in the Otay Mesa area of San Diego County.  

New distribution facility facing east along the west property line. 

Alternate view of Amazon development facing southeast from Otay Mesa Road. 

View of freeway interchange under construction facing north from Otay Mesa Road.  

Economy Is Performing Better Than The Mid Year Forecast Estimates

 

The Economist published an article in November 2020: What A Vaccine Means For America's Economy

As the new quarterly numbers are posting up our appraisal office has noted and concurs with the Economist - that the actual numbers of the broad economic indicators of GDP and Employment both nationally and locally in San Diego indicate much better economic resilience than originally projected by most forecasts earlier in the year and over the summer.   

 

The 2020 Covid-19 California Apartment Laws Are Summarized Here

 

A Summary of the 2020 Covid-19 Related California Apartment Management Regulations

City of San Diego Approves New Multi-Family Housing Project in Mira Mesa

 

New Multi-Family Project Approved by City of San Diego

City of San Diego Considers Airbnb Percentage Caps

 

The City of San Diego is discussing Airbnb housing stock percentage caps ranging from .75% to 1.2%, 

City of San Diego Goes-Back to the Table With Airbnb Units

Older Shopping Malls Starting To Be Repurposed

 

Old Shopping Malls Being Converted to Schools and Retail Fulfillment Centers

Various apartment sectors being impacted by the Pandemic.

Apartment rents being impacted by pandemic.

 

City Of San Diego Halting Rent Payments On Downtown High Rise

 

Voice of San Diego Reports on City Halting Rent Payments

Tiny Homes As Accessory Dwelling Units in San Diego

 The Latest On San Diego Short Term Rental Rules

KPBS is reporting on the next steps involving Tiny Homes as accessory dwelling units in San Diego.  Increased enforcement is anticipated in the future. 

Markets Responding to News About Remdesivir Steroid Medication Reducing Covid-19 Mortality by Half or More For Serious Cases

 Some long-awaited good news on the Covid-19 front. 

Short Term Rental Regulations In San Diego Back On The Table At City Hall

New San Diego Airbnb Regulation Plan Emerges

 

The new plan works to cap the number of houses (whole home rentals) that go into short-term rental service at .7% (3,750 home permits) of the housing stock while trying to encourage the renting out private rooms and granny flats (home share rentals) to visitors, in order to return more housing back to the local housing stock. 

California Senate Bill 939 - New Laws For Commercial Property Owners and Tenants

Some attorneys have broken down and are reporting on the new proposed bills 

and extended moratorium. 

New Laws For Commercial Property Owners and Tenants During COVID-19

New Property Tax Assessment Initiative to Appear on November 3, 2020 Ballot

The California Association of Realtors initiated a constitutional amendment that has obtained the necessary signatures and is to appear on the ballot for November 3, 2020.  

Link to new bill:   Property Tax Assessment Bill

The proposed law would allow eligible homeowners to transfer their tax assessments anywhere within the State of California.  The law would increase the number of times a tax assessment can be transferred from one to three.  The law would allow tax assessments to be transferred to a more expensive home with an upward adjustment.

The proposed law would address reassessments for inherited properties and changes in ownership of business properties.  In California, parents or grandparents can transfer their properties to their children or grandchildren without the property's tax assessment resetting to market value, which would happen upon sale to someone else.

For properties that are not the parent’s main residence: vacation homes, business properties, rental properties, the first $1 million of taxable value is to be exempt from re-assessment.  The proposed initiative would require that properties not used as main residences be reassessed at market value when inherited and exclude the first one million exemption.  The residential property reassessment exemption would change so that the first million would not be reassessed while the remaining value would be reassessed.

City of San Diego Encouraging Higher Density Apartment Developments, 12-Story Towers

The San Diego Reader has an interesting article about the City of San Diego's lastest efforts to encourage higher-density apartments and add to the inventory of affordable apartment units. 

Link to article: City of San Diego Promoting Higher Density Apartments

San Diego's Reopening This Week

The Voice of San Diego reports on this week's reopening around town.

Link: San Diego Reopening

San Diego Firm Gets Antigen Test Approval

A San Diego based company, Quidel Corp gets approval for a faster 

coronavirus antigen test.