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My Blog People are leaving S.F., but not for Austin or Miami. USPS data shows where they went J.K. Dineen Feb. 17, 2021Updated: Feb. 17, 2021 9:23 p.m. San Francisco residents abandoned the city in droves during the first eight months of the pandemic, but they generally did not venture very far, according to new data from the United States Postal Service. The postal service analysis of change-of-address requests during an eight-month period between […]
My Blog Could California’s Shopping Centers Be a Housing Fix? A trio of bills propose plugging the state’s huge housing gap with commercial-to-residential conversions of strip malls. New research suggests it could work. Patrick Sisson January 19, 2021, 4:19 PM EST A vacant shopping center in El Centro, California. Photographer: Photo by: Mickey Strider/Loop Images/Universal Images Group via Getty Images El Camino Real is a 600-mile historic thoroughfare that once linked Spanish missions in California, running from San Francisco to San Diego. Between Daly City and San Jose, the road […]
My Blog Oracle Relocates California Headquarters to Texas BREAKING NEWS Oracle Relocates California Headquarters to Texas Tech Firm Picks Austin for New Home Base As It Implements Flexible Work Policy Oracle has changed its headquarters from Redwood City, California, to Austin, Texas, reflecting a more flexible employee work location policy. (CoStar) By Candace Carlisle CoStar News December 11, 2020 | 3:32 P.M. Global software […]
My Blog Stunning rebound: Bay Area home sales surged nearly 70% from May to June; prices rose 3.6% BIZ & TECH // NET WORTH – KATHLEEN PENDER Kathleen Pender July 16, 2020 Updated: July 16, 2020 5:54 p.m.   San Francisco saw an increase in home listings in June. Photo: Jeff Chiu / Associated Press The Bay Area home market saw an enormous resurgence in sales and a modest increase in prices from May to June, as […]
My Blog Unemployment Drops to 11.1% – See how individual commercial asset classes are performing! +4.8M Jobs Gained in June -13.3M Jobs Lost Over Past Three Months 11.1% ▼ Unemployment Rate Executive Summary The U.S. economy added 4.8 million jobs in June, almost double economists’ consensus expectations. Unemployment dropped to 11.1% from 13.3% and the labor force participation jumped significantly to 61.5%. The participation rate is now just under two percentage points […]
My Blog Pending home sales spike a record 44.3% in May, as homebuyers rush back into the market PUBLISHED MON, JUN 29 202010:00 AM EDTUPDATED MON, JUN 29 202012:52 PM EDT Diana Olick@IN/DIANAOLICK@DIANAOLICKCNBC@DIANAOLICK KEY POINTS Pending home sales spiked a stunning 44.3% in May compared with April, according to the National Association of Realtors. That beat expectations of a 15% rise. Sales were still 5.1% lower compared with May 2019. The average rate […]
My Blog Working From Home Leads to Rethinking Office Valuations – By Garry Marr CoStar News BMO Capital Markets Suggests Long-Term Effect on Vacancies Remains to Be Seen CEO Michael Emory expects Allied Properties’ head office in downtown Toronto to reopen July 6. (CoStar) By Garry Marr CoStar News June 29, 2020 | 07:44 P.M. One of Canada’s leading investment banks is lowering its target prices for some of the country’s largest […]
My Blog Hospitality REIT to Put ‘Anything and Everything on the Table’ to Deleverage From Negotiating with Lenders to Possibly Selling Hotels, Ashford Hospitality Trust CEO Eyes More Than Survival One Ocean Resort, an eight-story, 193-room hotel along the Atlantic Ocean in Jacksonville, Florida, is completely booked for Memorial Day weekend. (CoStar) By Candace Carlisle CoStar News May 21, 2020 | 3:58 P.M. For a Texas real estate investment trust […]
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My Blog Loaded With Cash, Real Estate Buyers Wait for Sellers to Crack Loaded With Cash, Real Estate Buyers Wait for Sellers to Crack John Gittelsohn and Jack Sidders, 6 days ago   The world’s biggest real estate investors are sitting on piles of cash, preparing for once-in-a-lifetime opportunities created by the pandemic. © Brendon Thorne / Bloomberg  With economies around the world sputtering, commercial real estate prices are […]
My Blog The economy is tanking. So why aren’t home prices dropping? The economy is tanking. So why aren’t home prices dropping? COVID-19 has caused volatility in seemingly everything but housing More than 38 million Americans have lost their jobs since the outbreak of the COVID-19 pandemic. Stay-at-home orders have ground much of the economy to a halt, prompting trillions in stimulus spending by the federal government […]
My Blog Grocery retailers have an edge over Walmart & Amazon – they can use their existing locations as e-commerce multichannel fulfillment centers! Buoyed by Triple Digit Growth and Revamped Properties, Target Says It’s Ready to ‘Play Offense’ Retailer to Hit Accelerate on New Initiatives, Buying Real Estate Customers rushed to purchase toilet paper at a Target store in response to the coronavirus pandemic. (Getty Images) By Clare Kennedy CoStar News May 20, 2020 | 12:41 P.M. Target, with […]
My Blog Hospitality Industry Outlook U.S. Hotel Outlook | Updated April 23, 2020 – Courtesy CBRE Economic conditions are deteriorating quickly with the Covid-19 outbreak causing a sharp drop in economic activity. Hotels are experiencing a significant contraction to demand. Our current expectations are that as early as Q3 2020, activity will begin to stabilize, and a recovery is expected […]
My Blog IRS Extends Tax Deadlines – Good news for 1031 Exchange! IRS Extends Tax Deadlines The IRS issued guidance Thursday evening to grant deadline relief for both 1031 like-kind exchanges and opportunity zone investments that are already underway.  Both of these programs are designed to promote economic growth in communities, and NAR made the case that investors in these programs should not be harmed due to the effects of COVID-19. […]
My Blog Covid-19 Assistance The Government passed an unprecedented $2+ trillion stimulus package in response to the damage to the U.S. economy caused by the novel coronavirus pandemic. Below is a comprehensive list of the Banks that are participating in these programs, just click on the bank name to go directly to the application link: Economic Injury Disaster Loan […]
My Blog Impact of Corona Virus on Commercial Real Estate! All information credit to Intero Commercial East Bay! Office space – If the “Shelter in Place” continues for more than a few weeks then we can see a negative impact on Office Buildings. With corporates learning and perfecting the art of working from home, companies will reduce their office space requirements. Multi-family – In the […]