Tessa Turner

What percent of all homes are owned by investors for the top 100 metros? The results as of March, 2024: Top 10: 1. Oxnard (right above LA): 21.96% 2. San Francisco: 21.08% 3. San Jose: 20.91% 4. San Diego: 19.86% 5. Urban Honolulu: 19.31% 6. Las Vegas: 18.46% 7. Los Angeles: 18.44% 8. Sacramento: 17.47% 9. Phoenix: 15.48% 10. Cape Coral: 15.37% Bottom 10: 100. Hartford: 2.9% 99. Bridgeport: 2.96% 98. Pittsburg: 3.04% 97. Wichita: 3.33% 96. Mcallen: 3.4% 95. El Paso: 3.6% 94. Springfield: 3.63% 93. New Haven: 3.8% 92. Worcester: 4.24% 91. Syracuse: 4.36% 90. Richmond: 4.44% (Parcl Labs)

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Same talking points for 20 years: The good news (limited supply, limited volatility) about Las Vegas is the same as the bad news (limited supply restricts development, upward pressure on prices/rents): Land is controlled by an outside source (BLM). #jbrec # homebuilding

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Lee Shapiro, Executive Vice President, Director of Retail for Kennedy Wilson Property Services Brokerage, specializes in the sale and leasing of commercial investment properties throughout Southern California. With 31 years of extensive experience, Lee joins us to share insight into what’s hot in Hollywood’s commercial real estate market. "What we have been seeing as the most attractive type of commercial space in the market is second-generation restaurant space." Read the full article https://ow.ly/C8Wf50RH5oN #Retail #RealEstate #Commerce #Property #RMMagazine

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It in not just businesses that are getting crushed by high PGE bills, pretty much everyone using electricity in the State is paying 50% more. Unfortunately, better service did not come with the increase but rather the opposite as all of us can attest. Most people don't know that for commercial projects, you have to PAY PGE thousands of dollars and wait MONTHS just to get them to QUOTE the work that will take over a year for them to get finally start the work. That means 2 years to upgrade electrical service to a commercial building - not kidding. #PGE #california #publicutilities #constructioncosts https://lnkd.in/gb8EMAWk

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San Francisco is worst-run city in the United States, study finds KTVU Staff Tue, June 18, 2024 at 5:49 AM PDT·2 min read SAN FRANCISCO - These are not words that San Francisco Mayor London Breed wants to hear: The City is the worst-run in the United States. Well, that's at least according to a new WalletHub study evaluating the effectiveness of local leadership, which calculated a "quality of city services" score, comprising 36 criteria compared against the city's total per-capita budget. WalletHub's ranking, the personal-finance website said, tries to show how well city leaders manage and spend public funds by comparing the services that residents receive. San Francisco ranked 148th – the bottom of the list. Nampa, Idaho got the best ranking. While Breed did not specifically address WalletHub's rankings, she did tout San Francisco's successes in her State of the City address this spring. She highlighted the lower crime rate, the deterrence of open-air drug markets, housing for more than 15,000 people, and community-business partnerships in San Francisco as some examples. "I’m tired of the people who talk about San Francisco as if our troubles are inevitable and our successes a fluke. Our successes are not a fluke, and they’re not fleeting," Breed said at the time. "They’re the product of years of hard work, collaboration, investment, creativity, and perseverance. They’re the output of thousands of people, in government and out, who believe in service not cynicism." While San Francisco got dinged, Fremont was lauded for having the country's lowest share of its population living in poverty, the same WalletHub study found. Earlier this month, WalletHub named Fremont the best city in the United States to raise a family. Top 20 Best-Run Cities in America  1. Nampa, ID, 2. Lexington-Fayette, KY, 3. Boise, ID, 4. Nashua, NH, 5. Oklahoma City, OK, 6. Durham, NC, 7. Provo, UT, 8. Fort Wayne, IN, 9. Sioux Falls, SD, 10. Wichita, KS, 11. Raleigh, NC,12. Columbus, GA, 3. Warwick, RI, 14. Las Cruces, NM, 15. Missoula, MT, 16. Billings, MT, 17. Huntington, WV, 18. Manchester, NH, 19. Bismarck, ND, 20. Baton Rouge, LA https://lnkd.in/gzrtgAaW

What kind of projects are we currently looking for? Here's the breakdown of how we have restructured our business! Think you have an off market deal for us in Orange County, CA? DM it to us and earn a finders fee! #construction #houseflipping #wholesaling #realestate #flippingtips #orangecountyrealestate

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Bay Area tech layoffs: Google and Rivian cut more jobs By Aidin Vaziri May 10, 2024 According to official state government filings, tech giant Google and electric vehicle manufacturer Rivian Automotive cut dozens more jobs in the Bay Area this week. Google has announced plans to eliminate 57 positions across various roles in San Francisco, including managers, engineers and analysts, as per a WARN notice filed with California authorities. This follows an announcement in January where Google revealed it would lay off 702 workers in the Bay Area, with CEO Sundar Pichai indicating that further layoffs were expected throughout 2024. The layoffs come on the heels of the tech behemoth’s announcement that it will be exiting the 300,000-square-foot office that it has occupied at One Market Plaza in San Francisco since 2018, once the company’s lease for the space expires in April.

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To say that the Bay Area had a #housing boom is a misnomer. Simply looking at the number of #buildingpermits doesn't properly tell the story. A better way to look at the data is to compare building permits using per capita data. Although San Francisco County only had 2,618 permits, it had the highest number of permits at 3.61 permits per thousand residents when compared to Contra Costa County at 2.12 (2,443) Santa Clara County at 2.23 (4,195), San Mateo County at 2.22 (1,693), and Alameda County at 3.44 (5,586). The picture is far worse when you compare building permits to other technology centers in the US... - King County (Seattle) had a population of 2.27 million and generated 10,600 building permits in 2023 or 4.67 permits per thousand. -Denver County (Denver) had a population of 717 thousand and generated 5,725 building permits in 2023 or 7.98 permits per thousand. -Travis County (Austin) had a population of 1.33 million and generated 22,414 building permits in 2023 or 16.79 permits per thousand https://lnkd.in/gGnyrYCu

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📢 Check Out the Latest Real Estate Update! 🏡💫 📆 This Week: Wed, Jun 05, 2024 📍 Location: Orange County, CA 💰 Median List Price: $2,097,000 📉 Market Action Index: 61 (Compared to last month's 63) 📦 Inventory: Holding Steady at 1,648 #OrangeCountyRealEstate #MarketUpdate #Trends #MedianPrice #InventoryStatus #InvestmentOpportunity #DreamHome #Homebuying #HousingMarket 🏠💼📊

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A new state legislative bill, which is a vehicle for commercial rent control, will be heard before the CA State Senate Judiciary Committee on Tuesday, April 30. The bill, SB 1103 (Menjivar), will upend commercial tenant-landlord relationships, limit security deposits, and add complex and ambiguous regulations to the business-to-business relationship. SB 1103 will have detrimental consequences not only on commercial landlords but also on small businesses and not-for-profit organizations that the bill is trying to protect.

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So, I wouldn't be too concerned yet as less land for residential development in the future could encourage the BLM to release more and more land parcels for auction in the coming years. You could also see more deals like the one where D.R. Horton just purchased 11 acres from the LDS Church in North Las Vegas in order to build a smaller development of 81 homes. Or maybe we'll start to see a little more adaptive reuse of other commercial properties here like big boxes into multi-family uses? The question that I have is what is really sustainable for the Las Vegas Valley? Can we see ourselves getting to something like the Phoenix/Mesa/Chandler MSA at 5+ million people down the road? Or do we even want to grow to that size? The good part is that the jurisdictions within the Las Vegas Valley (Clark County, Las Vegas, Henderson and North Las Vegas) are pretty good at forecasting infrastructure needs and planning accordingly. Growing up here in Las Vegas, it's been really interesting to see how much that Las Vegas as grown, and it doesn't look like we'll be stopping any time soon. #LasVegas #LasVegasReviewJournal #LasVegasHomes #LasVegasMSA #BLM #Sustainability #SustainablePopulation

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🔍 In this latest update, I dive into the San Mateo County real estate market, comparing April 2024 to April 2023. The market's heating up, with single-family homes seeing a 20% increase in new listings and a whopping 47% jump in sold listings. Prices are on the rise too, with average sales prices up by 8% and homes selling 7% over the asking price. It’s a hot seller’s market! 🔥🏡 📈 For condos and townhomes, we saw a 15% increase in new listings and a 46% rise in sold listings. Prices are climbing steadily, with a 14% increase in median sales prices. Despite a slight rise in inventory, demand remains strong. 👉 Thinking about buying or selling in the San Francisco Bay Area? Reach out to me for expert advice and insights! 📞 ✨ Don't forget to follow for more updates, hit that subscribe button, like, and drop any questions in the comments. #BayAreaHomes #SanMateoCounty #RealEstateMarketUpdate #SFRealEstate #sanmateo #sanmateohousingmarket #sanmateorealestate

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The allure of premium workspace is driving San Diego companies to reimagine their office. Not sure where to start? Download JLL's Guide to the Optimized Office to learn more. Learn More: https://lnkd.in/ex4U6PVU

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How Will 99 Cents Only Store Closures Impact Orange County? Retail Vacancy in Garden Grove, California, To Rise Most The discount retailer occupies over 500,000 square feet in Orange County. Anchor spaces below have been listed available for lease. - Yorba Linda Center, Placentia - asking $1.95 NNN - 14731 Goldenwest St, Westminster - asking $2.00 NNN - Red Hill Village, Tustin - Brookfield Promenade, Huntington Beach - Lake Forest Town Center - College Plaza Shopping Center, Fullerton - Pinnacle Plaza, Anaheim In early April, discount retailer 99 Cents Only announced that it would close all 371 of its stores across Arizona, California, Nevada and Texas. The majority of those storefronts are in Southern California, where a group of investors led by the former president of Big Lots and CEO of Pic ‘N’ Save Bargains is positioning to reopen 143 stores, following the initial closures and liquidation sales. 99 Cents Only — which is seeking Chapter 11 bankruptcy protection — occupies more than 90 locations in Los Angeles County, nearly 50 in the Inland Empire, 26 in Orange County and just over 20 in San Diego County, according to CoStar research. CoStar subscribers may read more here https://lnkd.in/gRZ3-9pA #99CentsOnly #orangecountyretail #OCRetailCRE

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