San Diego Case Shiller Index Up By 24.4% Over the Past 12 Months

 This really happened.

Accessory Dwelling Units In San Diego

The new state laws intended to increase the housing stock are expected to lead to more disputes over ADUs here in San Diego.   

Accessory Dwelling Units A Concern To Local Property Owners

Just Checking Out the Real Estate

 

Hopefully, SeaWorld will find a safe place for this enterprising little guy.  He swam up some inland channels and then tried to head west toward the ocean by land, only to encounter a bunch of pesky humans and freeway traffic!  He was unceremoniously netted and hauled back to SeaWorld.

San Diego Sea Lion Explores Inland Freeway

New Law Encourages Apartment Developments & Multi-Family Housing

 

California SB 10 took effect on January 1, 2022.  The new state-wide bill impacts vacant land with the potential for apartment and multi-family developments throughout San Diego.  The bill authorizes local governments to zone most parcels (there are a few exclusions) for up to 10 units of residential density when the parcel is located in a transit-rich area, a jobs-rich area, or an urban infill site.  Just as apartment rent control laws took a while to be processed by the market, it is expected that this law and how local regulators implement it will take some time to sort out.  A copy of the bill can be found here. New Law Encourages Apartment Developments & Multi-Family Housing 

Once the local regulators weigh in to which sites qualify, then the brokerage, appraisal, and banking community will then sort out how this impacts highest and best use, property valuations, and underwriting rules for new commercial loans and the commercial appraisals that will back these loans.  

Otay Mesa Freeway Interchange Recently Completed - Good News For South Bay Commuters!

 

Starting this Saturday, commuters will be able to use the connectors in Otay Mesa on southbound SR-125 to eastbound SR-905 and eastbound SR-11.  San Diego to Open New Otay Mesa Freeway Interchange   

Will North Park's Woolworth's ever be renovated? | San Diego Reader

 

The San Diego Reader has an interesting article and case study about the challenges developers can face with a historic property that has had its re-development stalled several times over.  North Park Re-Development

San Diego Apartment Market - Historically High Rents

 

The most recent apartment market data from Costar shows some of the highest apartment rents ever going into the 4th quarter of 2021.

                                         San Diego Apartment Metrics

Replacing a Pier With A New Public Open Space

 

The Sunday Morning journalists have reported on the New Urban Public Park & Open Space , a remarkable case study in repurposing an urban land use.  Little Island is a new public space and performance venue constructed on top of concrete pilings shaped like tulips. Barry Diller and his wife, fashion designer Diane Von Furstenberg, gifted the $260 million project to the City of New York.

New San Diego Apartments Are Being Built to Higher Density With Limited Parking

 

Local apartment developers are tapping into the City of San Diego's new higher-density apartment regulations.

Central San Diego Neighborhoods Are Pushing Back on Permissive Granny Flat Regulations

 

The San Diego Union-Tribune has an article about San Diego Granny Flats and community members that think the development standards need to be more carefully considered. 

Economy is Poised For Rebound

60 Minutes interviewed Jerome Powell, the Head of the Federal Reserve, on the state of the economy as of April 2021.  

Economy Poised For Rebound

Shopping Center Conversions In Highest and Best Use

 

Converting retail space into Amazon fulfillment centers.

San Diego Apartment Owners May Have to Deal With Another CDC Eviction Moratorium Extension

 

CDC Is Expected To Extend The Eviction Moratorium

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