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San Diego real estate blog tracking news and market trends related to real estate, banking, and technology posted by a San Diego Commercial Appraiser. #SanDiegoCommercialAppraiser #CommercialAppraisals
The City of San Diego has come out with an online map of sites that are a part of the Housing Solutions regulations based on their location within a Transit Priority Area and zoning for multiple dwelling units
Complete Communities Location Map
Sixty Minutes reports on the causes of rapidly increasing rents and the housing shortage.
Rapidly Increasing Apartment Rents
Estate attornies are weighing in on the current and proposed estate tax legislation. California Estate Tax Laws 2022
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
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.
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.
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
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
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
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.
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.
60 Minutes interviewed Jerome Powell, the Head of the Federal Reserve, on the state of the economy as of April 2021.