Sky-High Rents Squeezes California Renters

April 25th, 2016

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If you’re thinking that renting in Southern California is an affordable housing option, take a look at the latest report by Reis Inc., a New York firm specializing in data about real estate and economics. 

Averages

The report shows the following averages.

  • Rents in Orange County averaged $1,753 a month during the first quarter of 2016, which is an increase of 3.7 percent or $63 over the year. That makes Orange County the 10th highest-rent city in the nation. At the top is New York at $3,474 monthly, an increase of 4.9 percent over the year.
  • Rents in Los Angeles County averaged $1,630 per month, an increase of 5.5 percent or $85 from 2015. It ranked 12th among high-rent cities.
  • According to the 2016 USC Casden Multifamily Forecast, the Orange County area with the highest rent was Newport Beach and Laguna Niguel at $1,962 a month. La Habra, Fullerton, and Yorba Linda showed an average monthly rent of $1,337.
  • The LA County area with the highest average were the coastal communities and Beverly Hills at $1,648. The West San Gabriel Valley showed an average monthly rent of $1,315 while in Southeast Los Angeles, the average monthly rent was $1,175.
  • For comparison, the average monthly rent in the US was $1,239. 

Read More >

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OC Register: “Real estate briefs: Passco buys complex for $51 million; R.D. Olson breaks ground on San Carlos Residence Inn”

April 22nd, 2016

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BY ANGELA RATZLAFF / STAFF WRITER

New Ventures

Passco Companies, an Irvine-based developer and manager of commercial properties, has acquired The Overlook, a 452-unit multifamily community in Nashville, Tenn., for $51.4 million. The Overlook is 95 percent occupied. Russ Oldham, CBRE senior vice president, represented both Passco as the buyer and Olympus Properties as the seller in the transaction. Chris Black of KeyBank Real Estate Capital’s commercial mortgage group arranged acquisition financing for Passco Companies through Fannie Mae.

Newport Beach-based R.D. Olson Development hosted a groundbreaking ceremony for its latest hotel project, a 204-room Residence Inn by Marriott Silicon Valley in San Carlos. Los Angeles-based DLR Group will be the architects for the hotel, and Seattle-based Degen & Degen will do interior design. Construction is planned to be completed in summer 2017. Read More >

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Summer Camps Near OC Real Estate

April 18th, 2016

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You’re looking forward to summer because it lets you spend more time with the kids. But you’re also facing the season with a bit of dread because how are you going to keep them amused when they’re at home? You and your spouse both work and you really can’t afford to hire a babysitter for them all day.

There’s always summer camp. And we’re not talking out-in-the-middle-of-nowhere forest enclaves that keep your offspring far from your side, although that is available. Instead, you’ll find many camps that last just a few hours or a few days per week over the summer. They cover many interests and activities that should appeal to each one of your kids.  Read More >

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BRANDYWINE HOMES PROMOTES ALEX HERNANDEZ TO PRESIDENT OF HOMEBUILDING DIVISION

April 14th, 2016

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Alex Hernandez

Past President Brett Whitehead Will Become Chief Executive Officer to Develop the Company’s Expanding Portfolio of Income-Producing Assets  

IRVINE, Calif. – Brandywine Homes, a pioneer of infill development in Southern California, announced that Alex Hernandez has been promoted to President of the company’s homebuilding division. He will be responsible for the management and supervision of day-to-day operations.

Past president Brett Whitehead has taken on the role of Chief Executive Officer at Brandywine Homes. He will focus his efforts on growing the newly formed Brandywine Investments, the company’s portfolio of income-producing assets, including multifamily, retail and other commercial real estate. Read More >

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MSN Money: “Brandywine Homes Promotes Alex Hernandez to President of Homebuilding Division”

April 14th, 2016

Brandywine Homes, a pioneer of infill development in Southern California, announced that Alex Hernandez has been promoted to President of the company’s homebuilding division. He will be responsible for the management and supervision of day-to-day operations.

Past president Brett Whitehead has taken on the role of Chief Executive Officer at Brandywine Homes. He will focus his efforts on growing the newly formed Brandywine Investments, the company’s portfolio of income-producing assets, including multifamily, retail and other commercial real estate.

“Alex’s promotion enables us to continue diversifying our platform so we’re not only a quality homebuilder but also an investor and constructor of income-producing assets,” Whitehead said. “This move allows us to balance the cyclical nature of homebuilding so that we can operate more efficiently with a steady cash flow from multiple platforms.” Read More >

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What happened to El Niño and Yorba Linda homes?

April 11th, 2016

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March has come and gone, so ending the six-month span during which Southern California receives its greatest rainfall. El Niño was supposed to send a deluge, heralding the much-needed end of our historic drought and allowing owners of Yorba Linda homes to water their gardens again and have green lawns. In fact, you, like many other area homeowners may have bought extra insurance to prepare for any possible flooding because standard insurance no longer covers such situations. 

So what happened to El Niño?  Read More >

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Styling Your Coffee Table

April 4th, 2016

Covington Living Room

Coffee tables aren’t just for throwing your feet up on after a long day, although they are good for that too! Let your coffee table have a statement of its own by perfectly styling and arranging it. There are a few simple things you can do to accomplish the best look for your table: try stacking some books with an object placed on top, add in a tall element for height, possibly a funky piece to express your personal style, and add a fresh look with flowers or greens!

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