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Southern California Real Estate Report

We cover Real Estate news in San Diego and Southern California. Topics include major developments, rents and current affairs. IPA (Income Property Advisors) has extensive experience in San Diego property management and construction management. We specialize in repositioning and stabilizing tenant occupancy through creating an operating budget and a marketing plan to achieve optimal market rents. We can also assist with identifying value-add opportunities for our investors and help in the acquisition and underwriting process.

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We cover Real Estate news in San Diego and Southern California. Topics include major developments, rents and current affairs. IPA (Income Property Advisors) has extensive experience in San Diego property management and construction management. We specialize in repositioning and stabilizing tenant occupancy through creating an operating budget and a marketing plan to achieve optimal market rents. We can also assist with identifying value-add opportunities for our investors and help in the acquisition and underwriting process.

How will San Diego handle a market crash?

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Today on the Southern California Real Estate Report we look which markets might do better in a market crash.


Predicting the further is often saved for economist but even they don't have all the answers.


Good news is San Diego is predicted to fair well if a housing market crash happens.


San Diego's low housing supply is one factor to consider


Article referenced:


https://www.mpamag.com/us/mortgage-industry/market-updates/real-estate-crash-which-markets-will-survive/408536?Region=United+States

Jun 24 2022

15mins

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Low income housing might get a boost

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Today on the Southern California Real Estate Report we talk about the 30 foot building height limit set in many coastal areas of San Diego and how a low income housing project might break that height restriction.


A project in Pacific Beach called the Rose Creek Apartments, got the OK from the California's Department of Housing and Community Development to build above the 30 foot limit.


Its still a long way off from breaking ground and we do not know what amount of community opposition it will face.


Todays article referenced:


https://www.sandiegouniontribune.com/news/politics/story/2022-02-08/san-diego-oks-large-package-of-housing-incentives-including-accessory-units

Jun 17 2022

15mins

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Uncertainty in the housing market

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Today on the Southern California Real Estate Report we talk about the uncertain housing market.

We are starting to see some signs of chances in the housing market.


Homes are sitting longer, home prices are not getting bid up as much and buyers are not rushing into making quick home buying decisions like they were only 2 months ago.


While the market is still hot, a cooling effect is starting to take place.


Today we referenced two articles:


https://fox5sandiego.com/news/local-news/san-diego-weekly-real-estate-update-5/


https://fortune.com/2022/06/07/housing-market-inventory-levels-are-rising-again-breakdown-in-americas-400-largest-markets/

Jun 10 2022

13mins

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Sports Arena update

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Today on the Southern California Real Estate Report we talk about the latest news on Sports Arena.


There are three projects on the table:


Midway Rising by Chelsea Investment Corp


Town Home SD by Monarch Group


&


Midway Village + by  BRIDGE Housing, Toll Brothers, and Revitate. 



All three are strong contenders but the City is favoring Midway Rising because it has the most affordable housing.


The Short List for Sports Arena Is Back | Voice of San Diego

Jun 03 2022

10mins

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Home prices hint 1M in San Diego

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Today on the Southern California Real Estate Report we talk about the rising cost of owning a home.

Median home prices reached 1M.


This rise in home prices is causing a rise in rent prices


Article referenced:


Home Prices Reach a Mind-Blowing $1M | San Diego Business Journal (sdbj.com)

May 26 2022

11mins

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Chula Vista Bayfront project takes shape

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Today on the Southern California Real Estate Report we take about the new hotel and convention center in Chula Vista.


It just got approved by the City of San Diego and is expected to take 3 years to build.


The project is on more than 500 acres of land and industrial property.


This project has been in the works for years and has undergone many iterations and financing troubles along the way.


This will be the first luxury resort in South County.


Article referenced:

https://www.sandiegouniontribune.com/communities/south-county/story/2022-05-17/construction-of-chula-vista-bayfronts-resort-to-begin-in-the-coming-weeks

May 20 2022

9mins

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Inflation

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Today on the Southern California Real Estate Report we talk about inflation. More specifically we talk about how rising cost of goods is becoming a problem for San Diegans.

Rent is not the only thing that cost more, along with gas, food cost have also risen.

As inflation makes living in San Diego more expensive the question becomes will people continue to be able to live in our City?

We talk about this and more on this weeks episode.

May 13 2022

11mins

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Interest rates and more

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Today on the Southern California Real Estate Report we talk... We talk about interest rates, we talk about the housing market and the rental market. We talk about how hard it is to find deals that just make sense.

And as we talk, we offer some insights into what we are seeing as the boots on the ground, as the property managers, the construction managers and brokers.

May 06 2022

17mins

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Airport transit

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Today on the Southern California Real Estate Report SANDAG has a new plan to get people to and from the airport.


The new plan hopes to deliver the project sooner than previous plans.


The new faster transit connection plan will not include a Grand Central Station at NAVWAR.


The new hub will be on a 13-acre piece of land of Pacific Highway and will include both above ground and below ground transit lines.

Apr 29 2022

9mins

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What is happening to office?

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Today on the Southern California Real Estate Report we look at the office market.


There is 243 million square feet of office leases set to expire in 2022.


That is 11% of the total office space leased today.


The pandemic has changed office space forever. More people have the flexibility to work from home. This means that office users have changing space needs.


While the office market still has legs, owners of office space will need to get creative to keep office tenants happy.


Article referenced for this podcast:

Apr 22 2022

18mins

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Rent growth for apartments hits new highs

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Today on the Southern California Real Estate Report we talk about San Diego rent growth.


We ask the question how high is too high for apartment rents?


We look at the affordability of San Diego compared to other California markets.


The year over year rent growth in San Diego was up 13.9% at the end of the first quarter.


The article we referenced can be found by clicking the following link:


https://www.costar.com/article/1297403833/san-diego-apartment-rent-growth-trends-at-record-high

Apr 15 2022

15mins

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Micro Units

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Today on the Southern California Real Estate Report we talk about a new multi-family project in North Park that is all micro units.

The units will be between 400 and 600 square feet and the building will have some amenities for tenants but limited parking.

The project sits in an "L" shape around the famous San Diego Chickens Pot Pie Shop.

Micro units are a bit of a trend in the development world

Units are more affordable in this price because they cost less to develop.


Article referenced:

https://www.sandiegouniontribune.com/business/story/2022-03-17/micro-unit-apartment-complex-with-406-square-foot-studios-coming-to-north-park

Mar 24 2022

14mins

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San Diego is losing money on expired leases

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Today on the Southern California Real Estate Report we talk about a new audit that does not look favorable on the way the City of San Diego handles its Real Estate assets.

Nearly 25% of the City's leases are expired. This means the City is not renegotiating those leases at current market rents which is depriving the City of additional rental income.

The City is also not inspecting their properties making them unaware of of how the properties are running and maintenance problems that might be occurring.


Article referenced for this podcast from the Union Tribune. Linked below: https://www.sandiegouniontribune.com/news/politics/story/2022-03-01/audit-criticizes-how-san-diego-handles-its-80m-in-annual-leases-its-likely-forgoing-millions

Mar 18 2022

20mins

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A new Vision for Seaport Village

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Today on the Southern California Real Estate Report we talk about a new look for Seaport Village.


At a estimated cost of $3.5 Billion the project promise to bring new life to the area with new hotels, shops, restaurants, offices, docks ,a beach and more.


The developer is 1HWY1 run by Yehudi Gaffen, along with Jeff Jacobs of the Jacobs family and Jeff Essakow.


Find out more about our thoughts on this project in this weeks episode.


Article referenced from The Union Tribune Titled Mega plan to replace Seaport Village unveiled.


https://www.sandiegouniontribune.com/business/growth-development/story/2022-03-01/mega-project-replacing-seaport-village-central-embarcadero-has-swelled-in-size-and-price

Mar 11 2022

16mins

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New luxury apartments come to San Diego

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Today on the Southern California Real Estate Report we look at the new development located at 525 Olive in Bankers Hills.

The development project is one of the tallest towers now located in the Balboa Park area and faced a lot of community opposition.

Its a luxury project consisting of studios, 1 bedrooms, 2 bedrooms and one penthouse suite, with prices starting at $3,358.00.

There is also 18 subsidized units in the building that are no different than the other units.

Mar 03 2022

10mins

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Home ownership is no longer a reality for most people

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Today on the Southern California Real Estate Report we talk about why owning a home is becoming more and more a dream for most Americans.

Throughout the Nation there isn't enough homes for sale to keep up with demand.

This is especially true in San Diego where the average home price is getting closer to a million.


Today we speculate on why this is the case and where we think the market is heading.

Feb 25 2022

19mins

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Company comes under fire for not pulling permits for home renovations

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Today on the Southern California Real Estate Report we talk about an accusation against a large home leaser that claims they never pulled required permits for renovation projects.


There has been a whistleblower lawsuit filed against the company Invitation Homes by none other than Neil Senturia the husband of former City Council member Barbara Bry.


He used machine learning technology to find properties that were renovated without permits.

Feb 18 2022

16mins

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New housing incentive package

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Today on the Southern California Real Estate Report we talk about the recently approved housing incentive package by Mayor Todd Gloria called "Home for All of Us".

The new package focuses of ADUs or "granny flats" as people often call them. It makes adding ADUs more accessible for homeowners and the hope is that additional ADUs will allow for more multi-generational housing.

So far the package has gathered major support.

Learn about our thoughts on the packet by listen in to this new episode.

Feb 11 2022

13mins

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Vacation Rental Update

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Today on the Southern California Real Estate Report we have some good news for owners of vacation rentals.

There is a delayed start to the short-term rental regulations.

The Coastal Commission will have to approve the already voted on new regulations.

This might not happen until the end of the year.

The issue is that the Coastal Commission has the responsibility of ensuring that California beaches remain accessible for all and the new regulations might hinder access for some.

Feb 04 2022

11mins

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Homebuilding is gaining traction

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Today on the Southern California Real Estate Report we talk about the rise in home building that has happened over the last year.

Zoning laws, NIMBYism and the slow City processes have all contributed to a lack of housing.

For the first time in many years home building is gaining traction.

Nearly half of the permits pulled were to build apartments.

While the number of pulled permits is a step in the right direction, it still isn't enough to get us out of the housing crisis we find ourselves in.

Jan 28 2022

19mins

Play

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Helpful Information

By raising it - Oct 13 2019
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Thank you for clearing up the new rent control law. The information was explained well.