Monday, July 30, 2012

ENCOURAGING NEWS ABOUT OUR REAL ESTATE MARKET

Whether you have been thinking about selling your home or buying one, the question for quite a while has been, “Is this a good time?”
A recent article in the Wall Street Journal reveals that we are finally seeing an increase in home prices and that the current inventory of homes for sale is decreasing. These are important indicators that the market trend is heading in the right direction. In a survey of forecasters, they found that approximately 94 percent believe the housing market has reached its bottom.
The mortgage rates continue to be at an extraordinarily low percentage showing potential buyers that they can afford to purchase more house than ever before — another encouraging sign.
The California Association of Realtors (CAR) reported California’s housing market continued to show signs of improvement in June, as home sales experienced solid gains annually and home prices reached their highest level since August 2010 while California’s housing inventory remained flat in June.
The National Association of REALTORS® (NAR) also reported last week that the pace of existing home sales fell in June, while prices continued their upward trend. The national median existing-home price for all housing types in June, up 7.9 percent from 2011 — the fourth consecutive monthly price gain from a year earlier. June’s gain was the strongest since February 2006 when the median price rose 8.7 percent.
In San Diego County, our local market also shows the same benchmarks as described in the National and State statistics. According to data for June 2012 provided by the San Diego Association of Realtors (SDAR) for existing home sales, both volume and price have increased over the prior month and when compared to June of 2011. In San Diego, we are up in listings sold by 21 percent over this time last year and in total of sales volume of all homes by 30 percent. To say the market has changed is clear and solid. We have not seen these types of increases since the market started its downturn years ago.
To find out how your immediate area and local market compares with these statistics, contact your local Real Estate agent for help. This is positive evidence that whether buying or selling, it is a good time.
Steve Rodgers
CEO/President, Owner/Partner
Real Living Lifestyles

Friday, July 27, 2012

Investors see commercial real estate as a good bet

Despite the economy, investors are bullish on the prospects for office buildings, the largest commercial real estate sector, a survey finds. Apartments are viewed as the most favored category.

January 02, 2012|By Roger Vincent, Los Angeles Times

As 2011 came to a close, some commercial real estate experts found promising signs in often troubled markets.
The office market is gaining interest from investors amid a mixed bag of property-related economic fundamentals such as improvement in employment and business expansions, a recent survey showed.
 
Commercial real estate continues to offer attractive yields compared with alternative investment vehicles, said respondents to a quarterly poll by consulting firm PricewaterhouseCoopers.
"Despite a sluggish U.S. economic outlook, the majority of surveyed investors view commercial real estate as favorably priced and a good play," said Mitch Roschelle, the U.S. real estate advisory practice leader at PwC, as the firm brands itself.
Investors are bullish on the general prospects for office buildings, the largest commercial real estate sector. They expect to see occupancy stabilizing and rents rising in many markets this year. Most attractive are office districts that have abundant tenants in technology or energy businesses.
Rent growth is expected to be highest in San Francisco, New York and the Pacific Northwest. Los Angeles ranked ninth among 51 markets as a desirable place to invest.
Newer, well-located industrial and retail properties are sought out by investors, but apartments took the crown as the most favored real estate category.
"Investors continue to view the apartment sector as an attractive play in delivering steady cash flows driven by solid rental demand and rising rents," said Susan Smith, editor in chief of PwC's survey. "As a result, investors view this sector as a hotbed for further investment activity."
Architects report rise in contracts
The nation's architects reported a slight improvement in business in November, the first uptick in four months.
Architectural contracts are a leading indicator of construction activity, with a lag time of about nine months to a year between the awarding of contracts and construction spending.
The American Institute of Architects, the leading trade group for the profession, said its index of "work on the boards" reported by architects was 52, following a score of 49.4 in October. Any score above 50 indicates an increase in billings.
"Hopefully, this uptick in billings is a sign that a recovery phase is in the works," said Kermit Baker, the institute's chief economist. "However, given the volatility that we've seen nationally and internationally recently, we'll need to see several more months of positive readings before we'll have much confidence that the U.S. construction recession is ending."
The West lagged behind the rest of the country in November billings with a score of 45.6.
Law firm to occupy Riverside tower
One of Riverside's oldest law firms, Best Best & Krieger, has agreed to rent 35,000 square feet in the Citrus Tower office building being built there.
 
The domed, six-story tower at 3390 University Ave. is the only office building under construction in Riverside and San Bernardino counties, according to Lee & Associates. The real estate brokerage represented landlord Regional Properties Inc. in the lease.
Real estate specialists familiar with the Inland Empire valued the 10-year deal at more than $14 million. Citrus Tower is expected to be complete by April.
roger.vincent@latimes.com

Thursday, July 26, 2012

L.A. County office rental market perked up in 4th quarter

Los Angeles County's office rental market finally showed signs of improvement in the fourth quarter as many businesses moved to new quarters and losses in occupancy slowed dramatically.
The market is still weak for landlords and is expected to stay that way for months, but the long slide appears to be over as companies grow more optimistic about their prospects, real estate brokers said.
 
"People are confident in their businesses and are committing to new leases," said Joe Vargas, area leader at brokerage Cushman & Wakefield.
After the economic downturn, most while-collar firms chose to play it safe by renewing existing leases when they expired rather than spending the money to move into new digs. In the fourth quarter, however, 77% of the space leased was for new office quarters, representing moves or expansions.
Overall vacancy in the fourth quarter was virtually unchanged from a year earlier at 18.8%, though down from its most recent peak of 19.1% in mid-2011. Landlords asked for an average of $2.50 per square foot per month, down 6 cents from the end of 2010.
The fact that there have been two consecutive quarters of occupancy gains in suburban office buildings outside of downtown Los Angeles might be the best indicator that the county's office market is entering recovery, Cushman & Wakefield said.
Century City, the largest suburban high-rise cluster of offices, had occupancy gains for the last two quarters but was down more than 200,000 square feet for the year.
Overall absorption — the net gain or loss in rented space — was negative 500,000 square feet for the year, a dramatic turnaround from 2010's negative 2.7 million square feet.
"We still have a long way to go," Vargas cautioned. "We are digging out of a big hole."
Two of the biggest leases last quarter were in the same complex, the former headquarters of Hilton Hotels in Beverly Hills.
United Talent Agency agreed to occupy 120,000 square feet and magazine publisher Playboy Enterprises Inc. rented 45,000 square feet in the property on Civic Center Drive.
Energy drink maker Red Bull took nearly 40,000 square feet in the Westside Media Center on Olympic Boulevard.
"We saw some large deals," Vargas said.
Orange County, where the office market crashed earlier as the subprime mortgage industry went into free fall, is further along in its recovery.
Landlords enjoyed more than 2.3 million square feet of absorption last year.
"This steady growth indicates that the office market is continuing its recovery, and we expect the market will continue to improve with anticipated job growth," said Jerry Holdner, vice president of market research at brokerage Voit Real Estate Services.
 
Employment expansion will be led by professional services businesses, healthcare and research-oriented businesses such as medical, information technology and alternative-energy companies, Holdner said.
The average asking rent in Orange County was $1.91 a square foot, down 9 cents from a year earlier, but Voit predicted that the increase in leasing activity would turn that trend around.
Rents will firm up early this year and begin to increase in the second half, Holdner said.
Other markets stocked with medical, technology and entertainment businesses, such as Santa Monica, San Diego, Silicon Valley and San Francisco, are also expected to show improvement as those industries grow.
Regions without many of those businesses, such as the Inland Empire, are expected to recover more slowly.
The office vacancy rate in Riverside and San Bernardino counties was 23.6% in the fourth quarter, an improvement from 25.1% a year earlier.
National data also reflected gains, brokerage CBRE Group Inc. said. The U.S. office market improved steadily throughout 2011, ending the year with a vacancy rate of 16%, down half a percentage point from the end of 2010.
Sources: http://articles.latimes.com/2012/jan/15/business/la-fi-commre-overview-20120110   roger.vincent@latimes.com

Tuesday, July 24, 2012

Finding a job can be tough.

Finding a job can be very difficult at times especially if you are just starting out.  I know for me it was hard having to go around and meet new people and have coversations about who I am and why I  would be a asset to there company(how nerve racking it was).  Then after your done talking to the potential employer they say, "we'll call you in a few days" and you shake there hand and leave. At home you just wait and worry if they'll even call or not, and when they don't call you end up having to go through the whole process again. The good thing though about getting turned down from a job is that each time you go to an interview you get better and calmer and realize that its ok if you don't land the job because there will always be another one right around the corner.

Some Tips:

  • Never stop applying even if you already have an interview. Its good to keep your options open.
  •  Dress to impress no matter what the job is. It shows that you want the job.
  •  Be confident. You always have a chance of landing the job.
  • Be calm. It will be over before you know it.
  • Don't "um" after every sentence it shows that your unsure of yourself.
  • Make a resume. you never know when you might need it.
  • When you do land a job stick around for a while, it will look good with future employers. They dont like to see that you jumped around from job to job.


Good Luck and never give up. Even when times get tough.

Monday, July 23, 2012

Advertising

Getting your business noticed can be a little difficult sometimes. Especially when you don't know where to start. Here are a few ideas to get you started.

Classifieds Ads(paper)

Classifieds can be a great way to get your information and services out their tons of people are always reading the classifieds and even if they are not specifically looking for your ad, its more than likely that they will run across it.

Classifieds Ads(online)

Online ads are a great way to get your business noticed because when people search in a search engine for something related to your type of business there is a good chance that your ad will pop up.

Cars

You can have your business advertised on the side of a car where people can see it when on the freeway or just going to the grocery store.

Billboards

Billboards are a great way to get your business noticed by people on the go. Who doesn't like looking at billboards?

Office Supplies

Such as note pads, pens, and Styrofoam cups are all great ways to get noticed.



I'm sure there are many more ways to advertise your business. Here i have given just a few examples to hopefully inspire to think of new and better ways to get noticed.

Friday, July 20, 2012

Ask Questions



 When renting an office it can be difficult at times to get all the information about the property.  Especially when the owner is just trying to get your money and not making sure the space is right for you.

It is a great idea when looking for an office to ask lots of questions. Just to be sure your getting what your paying for.

Here are some questions you might want to ask:


Q: How many square feet is the space?

 
Q: What is the monthly rent?

 
Q: Are there any additional fees such as taxes, assessments etc?

 
Q: Is it a lease or month by month renting.

 
Q: What type of deposit do you require? First month’s rent + last month’s rent?

 
Q: Are utilities such as electric, heat and air conditioning included?


Q: Do I have control of my own thermostat or is it controlled elsewhere? If controlled elsewhere, what are the settings?


Q: Are janitorial services included? If so what and how often?


Q: How many parking spaces am I allowed, and are those spaces assigned? If the spots are assigned, where are my spots?


Q: Am I allowed to park over night?


Q: What type of security does this building offer? Cameras, security guard etc?


Q: How soon will complaints be addressed from the time the complaint is filed? For example if my toilet stops working how soon will it be fixed?


Q: What type of signage am I allowed? Mail box, building directory, street, window? Who pays for this?

 Hopefully these questions will help you obtain the right office for you. Also think of more that you feel would benefit your office renting needs.