Los Angeles County Home Sales Volume Below Peak

Los Angeles County was hit hard by the 2008 recession, and it has still not fully recovered in terms of home sales volume and construction. Until 2015, home sales volume in Los Angeles County was driven primarily by investors. With employment and income improvement in 2018, home sales volume has increased, although at a slow…

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What is a Reciprocal Easement Agreement (REA) for Shopping Center

A Reciprocal Easement Agreement (REA) is typically used when a commercial shopping center property is owned by more than one person or entity, and these persons or entities want to develop the property as an integrated shopping center. The most common scenario is that one of the owners acts as the developer and the other…

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Netflix Gets More Commercial Real Estate in Hollywood

Netflix rapid expansion in Hollywood, California, continues with another new commercial office space lease. The online video streaming company has signed a long-term agreement to occupy about 355,000 square feet at a mixed-use site that Kilroy Realty Corp is building on a lot on Vine Street and De Longpre Avenue, just south of Sunset Blvd….

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Sears Bankruptcy May Free Up 100 Million sq ft

Sears filed for Chapter 11 Bankruptcy protection on October 15, 2018. The company has over $11 billion in liabilities and plans to close nearly 200 stores by the end of 2018. At its peak in 2011, Sears an Kmart had a combined total of just over 4000 stores. It started 2018 with about 900 stores,…

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Current California Population Trends

California’s population grew at a rate of 0.7% in 2017. The overall trend since 2000 is a declining growth rate. California’s population growth rate peaked in 1989 at 3.43%. From 2000 to 2017, the growth rate steadily decreased from 1.55% in 2000 to 0.73% in 2017. Of California’s ten largest counties, Los Angeles County had…

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California and Arizona Hospital Bankruptcies 2018

Six California and Arizona hospitals declared bankruptcy in 2018. Medicare is reducing reimbursement to save about $760 million in 2019. The clinic visit is the most common service billed under the Outpatient Prospective Payment System (OPPS). The change in reimbursement is to make clinic visits site neutral. In other words, doctors at hospitals would be…

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California PACE Energy-Efficient Program Has Problems

First launched in 2008, California’s Property Assessed Clean Energy (PACE) program was designed to address the need for sustainable energy building construction and energy-efficient retrofits. PACE finances “green energy” upgrades and installations for residential and commercial property owners. These energy upgrades include solar panels, heating and cooling systems, water pumps, LED lighting, insulation and more….

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City Zoning Map and Classifications

City zoning classifications allow a city, county, or other municipality to regulate development, land use, traffic, municipal resources, and more. A zoning map is often generated to visually describe these zones, and a set of laws, ordinances, and regulations provide a legal framework for how to manage each property. What Is City Zoning? City zoning…

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As Home Prices Rise, California Exodus Surges

Over a million more people moved out of California from 2006 to 2016 than moved in, according to a new report, due mainly to the high cost of housing. Housing costs are much higher in California than in most other states, yet wages for most workers aren’t. Even though the minimum wage in San Francisco…

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