SUMMER TEMPS AND FUN IN THE SOUTH BAY ARE IN FULL EFFECT!
From busier than usual beach parking to longer lines for dining al fresco, and the slight underlying scent of sunscreen... all the signs of another exciting summer abound. It seems there is fun to be had and it's all outdoors in an attempt to catch a breeze in this heat!
The rise in temps all around can also be seen cooking up the rising rents in the area! The sales of apartment buildings in the South Bay have nearly tripled recently. Giving the new owners a fantastic reason to do a few upgrades (great for the construction companies!) and therefore pass that cost onto their tenants.
This rise in rental property transactions have been linked to several factors including reality TV renovation shows as well as the soon to be finished NFL stadium. It's more than likely a combination of a few factors. No matter how you look at it, upgrading current buildings brings a new found inspiration for economic growth throughout the area.
Should your plans include real estate purchase and sales, please call or email with questions - and as always, thanks for your referrals!
HOW HIGH CAN SOUTHERN CALIFORNIA HOME PRICES GO? A LOT, EXPERTS SAY
"Luxury homes, priced at $2 million and up, may have reached a price peak and are facing an oversupply of listings, analysts said.
Nominal home prices have surpassed pre-recession highs in Orange and Los Angeles counties. Riverside and San Bernardino counties are about 18 percent below their price peaks. But none of those counties has reached pre-recession peaks in inflation-adjusted dollars."
BUCKING A NATIONAL TREND, THE TWIN CITIES IS BECOMING MORE DENSE
“A recent analysis showed many U.S. metro areas becoming more suburban. Minneapolis-St. Paul wasn’t one of them.
Between 2010 and 2016, the Twin Cities metro area population grew by 6 percent. In the same time period, Minneapolis grew 8.1 percent and St. Paul grew by 6.1 percent, according to Census figures compiled by Kolko..."
HONG KONG, AUSTRALIA TOP TARGET MARKETS FOR HOTEL INVESTORS IN 2017
“For the first time since 2013, no Japanese transactions made it into the Top 10 single-asset transactions list with limited big ticket deals recently on the market. On the other hand, portfolio transactions in Japan remain eagerly contested and the country's long-term tourism outlook remains positive with the upcoming Summer Olympics in 2020.”