Toyota headquarters in Torrance sold for $270 million to Irvine real estate developer
The former headquarters of Toyota’s North American business in Torrance has been sold for $270 million to Irvine real estate developer Sares Regis
More info @ http://www.latimes.com/business/la-fi-toyota-sares-regis-20171019-story.html?itx%5Bidio%5D=5765856&ito=792&itq=7fc071cb-b55c-46e1-95c7-66eeeebbbbc5
Developer Sares-Regis Group has acquired the former Toyota headquarters in Torrance for $270 million making it one of the biggest real estate transactions of the year in the region, where there is high demand for campus-style offices. The price was nearly double earlier estimates and indicates the potential the Irvine firm sees in developing the sprawling office and industrial park near the 405 Freeway. Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
October 21, 2017 at 12:54PM
Dodge: September construction starts jump 14%
The nonresidential sector, which spiked 37% month over month, was the primary driver behind the rebound.
More info @ http://www.constructiondive.com/news/dodge-september-construction-starts-jump-14/507769/
The value of construction starts surged 14% from August to a seasonally adjusted rate of $814.8 billion in September, according to Dodge Data & Analytics. The rebound was driven by the nonresidential sector, which spiked 37% month over month.
Nonresidential benefited from three major starts last month – an ethane cracker plant in Pennsylvania ($6 billion); a new Delta terminal at LaGuardia Airport in New York City ($4 billion) and an office tower in the Hudson Yards development in Manhattan ($1.7 billion). A lethargic public works sector pushed nonbuilding down 3%, while residential – both single-family and multifamily – saw a modest gain of 1%.
http://www.constructiondive.com/news/dodge-september-construction-starts-jump-14/507769/ Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
October 20, 2017 at 08:31AM
CoreLogic August Home Price Index Jumps Nearly 7%
Home prices rose almost 7% nationally in August, a sharp year-over-year increase. The states of Washington and Utah posted double digit increases to lead the price hikes.
More info @ https://finance.yahoo.com/news/corelogic-august-home-price-index-131509315.html?.tsrc=rss
Home prices rose 6.9% in August compared with the same month a year ago, according to CoreLogic. The research firm had previously forecast a rise of 5%, more in line with the index jumps in for the first three months of the year. The data include sales of distressed properties.
Month over month, August prices rose 0.9%, including distressed home sales. CoreLogic expects August housing prices to rise another 4.7% year over year by August 2018 and to rise by 0.1% month over month.
The 10 U.S. metropolitan areas posting the largest increases were:
Las Vegas: up 8.4%
Denver: up 8.3%
San Francisco: up 7.7%
San Diego: up 7.4%
Los Angeles: up 6.9%
Boston: up 6.7%
Miami: up 5.5%
Washington, D.C.: up 4.1%
Chicago: up 3.9%
Houston: up 2.1%
https://finance.yahoo.com/news/corelogic-august-home-price-index-131509315.html?.tsrc=rss Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
October 04, 2017 at 09:51AM
Holiday spending expected to increase 6 percent this year
It’s going to be a ho, ho, ho Christmas — for the wealthy. Overall holiday spending across the US is expected to rise 6 percent this year, to an average of $1,189 per person — but wealthier shopper…
More info @ http://nypost.com/2017/10/03/holiday-spending-expected-to-increase-6-percent-this-year/
No pressure or anything;-)
Overall holiday spending across the US is expected to rise 6 percent this year, to an average of $1,189 per person — but wealthier shoppers are expected to really cut loose, a national survey has found.
Those earning $100,000 to $149,999 are expected to jack up their holiday spending by 15 percent, to $1,609 per person, the survey, from PwC, found.
“It’s clear that consumers are ready to shop this year, and consumer confidence is up across the board,” said senior analyst Krystin Weseman, adding that higher-income consumers have been buoyed by low unemployment and wage growth, while lower-income consumers are not seeing the same wage gains.
Weseman was referring to the survey, which found persons earning less than $25,000 a year planned to cut their holiday spending by 3 percent, to $640. Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
October 04, 2017 at 07:28AM
Housing, meet your next homebuyers – Generation Z
A new survey from Zillow introduces the housing industry to the next generation of homebuyers – Generation Z. Here’s everything you need to know about this new generation who, yes, are already thinking about buying homes.
More info @ https://www.housingwire.com/articles/41423-housing-meet-your-next-homebuyers-generation-z
Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
September 28, 2017 at 10:06PM
August home sales and price report
California housing market defies tight inventory as sales and median price propel higher.
More info @ http://www.car.org/aboutus/mediacenter/newsreleases/2017releases/aug2017sales
“California’s housing market defied gravity as existing home sales and median home price registered increases on both a monthly and an annual basis in August, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Closed escrow sales of existing, single-family detached homes in California remained above the 400,000 benchmark for the 17th consecutive month and totaled a seasonally adjusted annualized rate of 427,630 units in August, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide sales figure represents what would be the total number of homes sold during 2017 if sales maintained the August pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
The August sales figure was up 1.5 percent from the 421,460 level in July and up 1.3 percent compared with home sales in August 2016 of a revised 422,190. Year-to-date sales are running 2.7 percent ahead of last year’s pace, but have curtailed since the first quarter.”
http://www.car.org/aboutus/mediacenter/newsreleases/2017releases/aug2017sales Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
September 19, 2017 at 11:47AM
Housing Before and After the Crash: Taking Inventory of Our Housing Market Fears – Zillow Research
The current expansion’s length prompts questions and fears about its eventual end, especially among home builders still bearing scars of the last decade.
More info @ https://www.zillow.com/research/home-builders-market-fears-16551/
Most economists also said they believed the next recession is both unlikely to be triggered by, and will have only a moderate impact on, the housing market overall (very much unlike last decade). When asked about likely causes of the next recession, the housing market ranked behind potential geopolitical crises, monetary policy, a stock market correction, political gridlock, trade policy, fiscal policy, military action and a corporate debt downgrade. When asked to rank the next recession’s impact on housing on a zero-to-10 scale – with zero representing “no impact,” five a “moderate impact” and 10 a “severe impact” – respondents selected an impact of 6, on average; a third (34 percent) of respondents scored the effect less than 5.https://www.zillow.com/research/home-builders-market-fears-16551/ Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
September 14, 2017 at 11:02AM
150 real estate grant secrets revealed for Florida rehab and investing. Lesko.com/tutor
More info @ https://www.youtube.com/watch?v=wj6_wk-9DnU
The master of government giveaways, has a few videos on grants to rehab after the Florida disaster. Probably for Texas too. Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
September 14, 2017 at 08:08AM
4 top-selling new-home communities call Orange County home
Orange County is once again home to four of the nation’s best-selling master-planned communities. Irvine Ranch continues to be the top-selling master-planned housing community in the nation, …
More info @ http://www.ocregister.com/2017/09/05/4-top-selling-new-home-communities-call-orange-county-home/?itx%5Bidio%5D=5765856&ito=792&itq=9fbe2925-d8c0-4e96-a9f1-1ae307499c14
But land-giant Irvine Co. must share the limelight with three other Orange County developments moving up RCLCO’s rankings.
Great Park Neighborhoods: The project on the old military base in Irvine came in at No. 8 with 466 sold vs. 270 a year ago, or a 73 percent jump. It ranked 12th year ago.
Rancho Mission Viejo: On land near San Juan Capistrano, it was No. 11 with 340 sold vs. 242 a year ago, or a 40 percent jump. It ranked 15th a year ago.
Baker Ranch: The Lake Forest community came in at No. 12 with 318 sold vs. 228 a year ago, or a 39 percent jump. That garnered a No. 17 ranking. Positive Real Estate News – http://www.facebook.com/pages/p/166701730035514
September 05, 2017 at 11:51AM