ABQjournal: Weak Job Growth Depresses Rents Sign Up | Log In | Why we charge Albuquerque, New Mexico E-mail the Story Printer Friendly Double click any word Dictionary Sponsored by Newspapers in Education Recent stories by Michael Liedtke $$ NewsLibrary Archives search for Michael Liedtke '95-now Newspaper Ads click ad to enlarge Homes Arts & Crafts-Style House in Corrales Large but Homey KB Home Offers About 5,000 Design Options Las Casitas del Rio II House Is Open, Efficient and Next to Bosque Rutledge Homes Explores New Options Because of Shrinking Space House in North Albuquerque Acres Has Stone Accents 'Universal Design' Accommodates Both Active, Elderly In This Placitas House, Only One Room Is Designed on the Square 5,000-Square-Foot House Designed for Entertaining House Opens, Room by Room, to Architectural Details, Mountain Views West Side Development Gets New Townhomes in Its Defining Style More Homes document.write (' Albuquerque Journal Newspaper Subscriber Services: Place a classified ad | Advertise on ABQjournal | Subscribe to newspaper ') Copyright Albuquerque Journal
Advanced Search Home Help IN all articles free articles only this publication Business Finance Arts Entertainment Automotive Business Finance Computers Technology Health Fitness Home Garden News Society Reference Education Sports FindArticles Business Finance National Real Estate Investor Jan 2002 Article Content provided in partnership with Article Tools Furl this article Print Send Link to this article Subscribe to Publication Help Publications by Name Select one A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Publications by Topic Arts Entertainment Automotive Business Finance Computers Technology Health Fitness Home Garden News Society Reference Education Sports Tenants grab balance of power: as the apartment industry grapples with increasing vacancy rates, landlords find that all types of rental concessions are in order - Multifamily Monitor - Brief Article National Real Estate Investor , Jan, 2002 by H. Lee Murphy Save a personal copy of this article and quickly find it again with Furl.net. Get started now. (It's free.) It's a great time to be renting apartments from Summit Properties Inc. in Austin, Texas. With the city's technology bubble suddenly burst, occupancy rates at the company's two apartment complexes in Austin plummeted from 97% in third-quarter 2000 to 88% in thirdquarter 2001. To entice renters to its 850 local apartment units, Summit is offering free rent along with big-screen televisions and DVD players. The company even has initiated a raffle with a free apartment for an entire year as the grand prize. "The Austin marketplace will be fine in the long term, but it's going through some indigestion right now," acknowledged Michael Schwarz, CFO of Charlotte, N.C.-based Summit, which owns and manages 20,000 apartment units in seven states. "Apartment vacancies in most cities are higher than they were a year ago," he said. "It's a difficult operating environment today" The troubles that Summit is enduring in Austin are not an isolated phenomenon. In the third quarter of 2001, there was a nationwide vacancy rate of 4.5% in apartments, up from 3.2% in the same period a year earlier, according to Carrollton, Texas-based M/PF Research Inc. Also, rent growth registered -.1% in the third quarter of 2001 after a scant .3% increase in the second quarter, according to Dallas-based Axiometrics Inc. By contrast, rents increased 3.6% in the third quarter of 2000. Cities such as Miami and New York and Los Angeles remain in relatively good shape, but others, such as San Jose, Calif., Atlanta and Phoenix, are now classified as "distressed" by Merrill Lynch & Co. analyst Steve Sakwa, who tracks 31 apartment markets around the U.S. "Apartment markets nationwide are still in the down phase of the real estate cycle with no recovery in sight until mid-2002 at the earliest," Sakwa said. "Weak markets outnumber healthy ones, and the imbalance is widening. Three months ago, 10 of the 31 markets were in good shape. This time around, there are just eight such markets." In the late 1990s, rent increases of 5% to 10% per year were the norm in many cities where demand routinely outpaced supply. Now, the balance of power has shifted from landlord to tenant with the onslaught of the recession, and landlords are finding that even price cuts aren't enough to fill up empty spaces. Apartment players know that they are simply in the midst of a down cycle and comfort themselves with the knowledge that another up cycle is out there somewhere on the horizon. It's just a question of when. In the meantime, landlords are offering as much as two months of free rent in some places along with a host of other freebies, ranging from microwave ovens and parking to health club memberships. Also, more property owners have begun to offer rent-to-own programs, affording their residents a savings vehicle for a down payment on a single-family home. In sum, apartment owners who hate to see any unit sit idle for more than a month are scrambling for ways to keep a steady income stream flowing. Concessions by the Bay When looking for the sometimes dramatic impact of the economic slowdown on the apartment sector, one need look no further than the San Francisco Bay area. The three markets that make up the area t San Francisco, Oakland/East Bay and San Jose -- are in the worst shape of all, according to Sakwa. He calculates that rents in northern California have fallen between 7% and 11% during the past year. Approximately 67% of the apartments in San Francisco are now being rented with concessions attached, according to Axiometrics -- a dramatic increase from the 10% figure of a year ago. Nationwide, 60% of all apartments were rented with concessions in the third quarter of 2001, according to Axiometrics, compared with 36% a year earlier. The current climate is a sharp contrast to the heady days of the late 1990s. For instance, rental rates in San Francisco rose at least 10% every year between 1996 and 2000. Free-spending corporations rented apartments for interns and traveling employees, filling up one-fourth of the units in some complexes. Lee Carlson, CEO of San Francisco-based BRE Properties Inc., which has 3,500 units in nine properties in the San Francisco area, recalls that vacancy rates at his company's properties were a razor-thin 2% in 1999. Turnover was just 55% annualized, far below the industry standard of 65%. Concessions were unheard of. What a difference two years make. BRE's San Francisco rents plummeted 15% in 2001. Occupancies have slipped below 95%, and turnover is running at an 80% rate. "We never believed that rental rates would continue to go up like they did in the late '90s," Carlson said. "But we've had more of a correction than we expected." In fact, rates have fallen so far at BRE properties that many customers are upgrading. "Families with two-bedroom units are finding that they can move up to three bedrooms now at a cheaper price," Carlson said. "Renters today have a lot of choices. A year or two ago, they only had take-it-or-leave-it options." BRE was opposed to rent concessions for many years, but the company is relenting lately and experimenting with modest giveaways, including a $200 move-in allowance, free DVD players and raffles for prizes donated by local merchants. BRE asked a consulting firm to survey residents on their attitudes and found that rental rates merely ranked ninth on a list of reasons to stay in an apartment. More important to residents are such considerations as how building managers treat them and how quickly maintenance personnel respond to a service call. There are other things a company like BRE can do to stimulate rentals, Carlson explains. The company has boosted its media promotions and displayed more banners and balloons on weekends to attract apartment shoppers, with the expectation of closing leases with at least one-third of the visitors who come through its doors. To motivate rental agents, the company offers extra commissions of $50 as a reward for filling hard-to-rent spaces. Elsewhere on the West Coast, circumstances aren't quite so dire. Carlson reports that the luxury segment in Los Angeles is soft, but rents are either stable or rising in single digits. The company is in the process of delivering a new property called Pinnacle at Otay near San Diego, which will feature rents ranging from $1,200 to $1,800 per month. "Leasing is going very well there" Carlson said. "We're actually above our pro forma expectations on price for the property. The entire Southern California market is still supply-constrained and healthy" Tough times elsewhere The apartment sector's tough times aren't limited to the West Coast, as landlords in the rest of the country are struggling with the recession as well. Chicago-based RMK Management Corp. completed a 336-unit apartment complex in Aurora, Ill., last May. The company figured the property would be two-thirds full by now. Instead, the property is just 40% occupied. To boost interest in the property, RMK is offering tenants free parking and a book of 10, $100 coupons that residents can use at any time toward their rent. "This gives the resident flexibility," said Anthony Rossi, RMK's president. "They may choose to use five of the coupons in a month like January when they have a lot of Christmas bills to pay" The company also is offering residents such amenities as kitchen TVs and microwave ovens to close deals with wavering rental prospects. In the Atlanta metro area, AMLI Residential Properties Trust of Chicago has delivered a new 200-unit property called Kedron Village just south of the city that has been slow to attract interest from renters, despite offers of free rent for a month. Robert Aisner, president of AMLI Management, estimates that 13,000 new apartment units were added to the Atlanta market in 2001 at a time when job growth had stalled. "Generally when we open a new property like Kedron Village, we expect to be stabilized within a year," Aisner said. "We obviously won't get leased up within that time now. Instead of being stabilized by the third or fourth quarter of 2002, we'll probably push that back a couple of quarters." He added that AMLI has slowed new development starts. "We began slowing down on the development side about 10 months ago," Aisner explained. "We wanted to be in a position with very little exposure to new construction going forward." Concession considerations Atlanta landlords, in particular, must be careful when making concessions in order to lure residents, according to Kenneth R. McCullough, an attorney with the law firm of Seyfarth Shaw in Atlanta. In Georgia, renters have a broad 1 - 2 - Next Furl it Print Send Link Subscribe Related Terms Real estate developers / Marketing IN all articles free articles only this publication Business Finance Arts Entertainment Automotive Business Finance Computers Technology Health Fitness Home Garden News Society Reference Education Sports FindArticles Furl Grub LookListings Net Nanny WiseNut Zeal 2004 LookSmart, Ltd. All rights reserved. - About Us Advertise with Us Advertiser Log-in Privacy Policy Terms of Service
San Diego Metropolitan - Real Property - December 98 The $1,500 Two- Bedroom Apartment In 1999 San Diego, it will be just a little place to call home O utside the state of California, 70 percent of American households are resident-owned; only 30 percent rent. Here, in San Diego County, the ratio is 50 percent own, 50 percent rent. It wasn't always that way. A half century ago, we were at parity with the nation, with about 55 percent owning and 45 percent renting. Gradually, as the country prospered, home ownership increased, passing the 66 percent mark in 1990. San Diego never made it past 55 percent and that was in 1980. We've been going downhill since. This disparity is attributable to "growth management," a euphemism for NIMBY (not in my backyard) ism. Starting in the early 1970s, San Diego (and coastal California, in general) began politically to impede development. As a result, the finely balanced supply-demand equation was disturbed. Ultimately, the imbalance has caused land prices to increase exponentially, driving up home prices to unacceptable levels. In Market Profile's most recent Residential Trends survey, new subdivision homes in the county averaged $320,000. The fallback position for home ownership in the 1980s was condominiums. During the latter 1980s, home builders produced and sold more than 3,000 moderate-priced condominium units annually. Then construction defect litigation reared its warped head and brought condominium development to a halt. Today, San Diego is generating lifetime renters -- folks who really lack any chance of home ownership. With an improving economy, apartment vacancy rates are effectively zero and most renters are trapped, unable to move up to the entry level of ownership. Evidence of this rental housing shortage is the rather rapid rise in rental rates, up 8.8 percent in the past year. The rental housing shortage is being exacerbated by the strengthening resale market. Some 150,000-plus single family homes and condominiums in the county are rented (30 percent of all rental units). As resale values appreciate, investor owners are not renewing leases, opting to take their entrepreneurial profit in the resale market. Renters in these investor-owned units are then being forced to compete for rental units in traditional apartments, few of which are vacant. Further pressure is being placed on the rental market by the basic health of the economy. This year, as with last year, we will add more than 40,000 new jobs, creating more than 20,000 new households, most of which are renters. The obvious capitalistic response to this situation is to build new apartments. The problem with that Econ 101 answer is that "the numbers" do not work very well here. Most municipalities hereabouts frown on rental units and have placed major barriers to their development, primarily through restrictive zoning and obnoxious development fees. Many of Market Profile's clients are moving forward with new apartment development, but the price is dear. In better quality locations like Mission Valley, new apartments have development costs in excess of $125,000 per unit. A good rule of thumb says that for a project to be feasible, its rents must be 1.2 percent, per month, of the cost of development. Thus, a project that costs $125,000 per unit to develop must have rents averaging $1,500 per month. That $1,500 delivers a two-bedroom, two-bath flat of 1,000 square feet. And of course there are no write-offs for rent. Now the home-ownership question evolves: "How many folks can afford to rent a $1,500 apartment?" From a salary qualification standpoint, a 3-1 ratio is traditional; hence, a renter of a $1,500 apartment should earn $4,500 a month or $54,000 annually. Unfortunately, in San Diego County the average renter household earns about $35,000 annually. As you might suspect, most renters of these upscale units are either well-educated, sharing with a roommate, a two-job couple or all of the above. The question remains: How deep is the market for $1,500 apartments in little old San Diego? We are becoming a dual-profile county. In the last U.S. Census, we learned that the average age of a home owner in San Diego was 52; the average renter 35. We also know there is a massive disparity between the incomes and net worths of a renter and an owner. The disparity is even more evident among Hispanics and African Americans. Is this any way to run a county? Alan Nevin is chief economist with Market Profiles, a consultancy providing real estate and demographic statistics, feasibility studies and litigation support to the California land use industry and legal professions. Home | Features | Info | Cover Story | About Us | Back Issues | Search
10.20.2003 Low Vacancy Rates a Catalyst Behind Area Buying Spree Investor s Kearny Mesa Deal Quadruples in Value NEWS TRENDS by Mandy Jackson, Staff Writer Low vacancy is resulting in big investments around the county. In markets (Downtown San Diego and Kearny Mesa) and property types (apartments) with low vacancy, investors are scrambling for good buys. Of course the foresight of these investments remains to be seen. As some have noted over the last year or so, aggressive investors paying top dollar may not be able to get the high rents they need to justify big buys. On the first day of October, GE Asset Management and San Diego-based SENTRE Partners, for an affiliate of GE Pension Trust, teamed up to acquire the Koll Center in Downtown San Diego. In December, the partners bought nearby 570,000-square-foot One America Plaza for $166.3 million. The 20-story, 373,000-square-foot Koll Center was built at 501 W. Broadway in 1989. The property is 90 percent leased. The developer, the Koll Co. of Newport Beach, was the seller. Kraig Kristofferson, Robert Smith, Michael McMenomy, Michael Kane, and Nelson Ackerly of CB Richard Ellis represented the Koll Co. in the sale. The buyers did not release the sales price. It s a great building. Koll is a great developer of great spaces, said Steve Williams, president of SENTRE. Big Buy GE Asset Management and San Diego-based SENTRE Partners, for an affiliate of GE Pension Trust, acquired the 373,000-square-foot Koll Center in Downtown San Diego from the 1989 developer, the Koll Co. of Newport Beach. SENTRE and GE will add a building optical network to add bandwidth and Wi-Fi accessibility to the property. The bandwidth will be an optional utility for Koll Center s tenants. Wi-Fi, which allows wireless Internet access, will be a free amenity. When the property was put on the market, there was no selling price, Kristofferson said. There were several institutional investors offering bids for the property, he noted. SENTRE will take over leasing and management duties from CB Richard Ellis. However, CB recently gained the marketing assignment for San Diego-based Cisterra Partners $80 million office tower behind right field at Petco Park. Kristofferson, Ackerly, Joel Mayne, and John Gross of CB are pre-leasing the 14-story, 300,000-square-foot office building, which the developer is calling DiamondView Tower and expects to open in 2006. Before joining CB, Mayne was a vice president for San Francisco-based Catellus Urban Development, which has been planning One Santa Fe Place, a 26-story office tower on Pacific Highway for the last few years. A Diamond View San Diego-based developer Cisterra Partners recently unveiled renderings for its 300,000-square-foot office building, DiamondView Terrace, which will be constructed behind the right field of Petco Park in Downtown San Diego. Investment Quadrupled: Newport Beach investor Layton-Belling Associates turned a $10 million Kearny Mesa investment into $46 million worth of dispositions. Rick Sparks of CB Richard Ellis represented the investor in the long series of transactions. LBA originally purchased the three-building, 120,000-square-foot Balboa Corporate Center for $10 million in 1998. At the time, the main tenant, Overland Storage, was contemplating its need for more space, Sparks said. LBA bought 9 acres for $7.3 million in Miami-based Lennar Partners Spectrum development in Kearny Mesa and built a 158,000-square-foot building for Overland. Last year, W.P. Carey of New York bought the new building for $28.5 million. Back at the Balboa Corporate Center, LBA leased a 26,000-square-foot building to San Diego County and sold it for $4.8 million. Last month, LBA sold the final two buildings totaling 96,646 square feet, and vacated by Overland about a year ago, to Jack Henry Associates Inc. for $12.85 million. The buyer, represented by Tim Fisher of Glaze Commercial Real Estate Advisors, will use the property for its San Diego-based affiliate, Symitar Systems Inc. Kearny Mesa Selling High: According to Sparks colleagues at CB Richard Ellis, office and industrial sales dropped off in Kearny Mesa in the first half of the year. However, for buildings that did sell, prices were high. The area s vacancy rate reversed the trend of the last few quarters and dropped, ending the second quarter at 5.7 percent. Bradley Black, Robert Merkin, Patrick Collins, and Larry Jackel of CB reported that only seven properties sold in the first half of 2003, but they totaled $75 million. In the same period last year, 23 properties sold. However, the average sales price of $133 per square foot this year is much higher than in 2002. If recent transactions are any indication, investment activity may be heating up. In addition to LBA s recent sale in the Balboa Corporate Center, a 55,450-square-foot industrial building sold for $10.25 million. Mickey Morera, Mark Wayne, and Lynn LaChapelle of Burnham Real Estate Services represented the buyer, Aardema Family Trust, and seller, W9/PC Real Estate LP, in the industrial sale at 4255 Ruffin Rd. However, as the guys at CB Richard Ellis report, few Kearny Mesa buildings are for sale. Owners are holding their properties since they can t find replacement investments. On the Apartment Side: As the county s vacancy remains below 5 percent, Pacific Property Co., a subsidiary of Encino-based Marcus Millichap Co., continues to nab local apartment complexes. Pacific Property bought the 324-unit Bay View Summit complex east of Mission Bay for $32 million, and the 86-unit Home Park Village in City Heights for $8.5 million. Kevin Mulhern and Dick Schneider of CB Richard Ellis represented both parties in the Bay View Summit transaction at 3103 Clairemont Drive. The seller was Stoneridge Investment Corp. of Palm Springs. The company s acquisition manager, Rory Gardner, said in a press statement, San Diego will continue to be an area targeted for investment; housing remains in short supply and San Diego s economy continues to demonstrate diverse growth. Pacific Property has spent $132 million in San Diego County in the past year. Send residential and commercial real estate news to Mandy Jackson via fax at (858) 571-3628 or via e-mail at mjackson@sdbj.com. Call her at (858) 277-6359, Ext. 114. County Water Authority s. Partnership Forum Seeks to Recruit Contractors The San Diego County Water Authority is taking reservations for its fifth annual Creating Paths to Partnerships Networking Forum to recruit local contractors for upcoming construction projects. The event connects new and existing general contractors, subcontractors, engineers, and consulting firms with the water authority and its member agencies, including cities and municipal water districts. It also provides various sessions on bidding for projects, contracting laws, and other topics. The event is set for 8 a.m. to 4: 30 p.m. on Nov. 13 at the DoubleTree Hotel at 7450 Hazard Center Drive in Mission Valley. Registration, which includes lunch, costs $50 per person before Oct. 17 and $60 after that. It supports the water authority s Paths to Partnerships Scholarship Program.
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Smokefree Apartment House Registry - San Diego County Listings List of Smokefree Housing Housing for Seniors Smokefree Hotels General Information Condominiums, Townhouses and Co-Ops Why are Smokefree Apartments Legal? Legal Issues One Page Model Smokefree Policy Two Page Model Smokefree Policy News and Views Newsletter No Constitutional Right to Smoke Application for Listing Notification of Vacancy Links USA California San Diego County Please tell the owner or manager that you found them on the Smokefree Apartment House Registry Escondido Lake San Marcos Lawndale Mission Beach North Park Oceanside San Diego Vista Back to Main List Escondido 1041 #B W. Lincoln Ave Escondido, CA 92026 3 bedroom, 1 bath apartment in smokefree building. Building constructed in 1984. For more information, please contact Dawn Fandel. Sorry No Vacancy 09/05/2004/F1 Lake San Marcos Dawn Fandel Fandel Property Management, 760-744-7752 FAX 760-744-8302 Cell Phone 714-504-2500 Luxury Homes Vacation Rentals/Seasonal Rentals 06/19/2002/F1 Lawndale Fandel Property Management 760-744-7752 4207 147th St. Smokefree apartment units and house in Lawndale, CA. Sorry, No Vacancy 12/24/2002/F1 Mission Beach Bayside Apartment 3416 Bayside Walk San Diego, CA Sorry No Vacancy 09/10/04/K8 North Park 3677 Boundary St. #A 2 Bedroom, 1 Bathroom charming duplex Sorry No Vacancy 09/10/04/P11 Oceanside Listed January 21, 2004 Dawn Fandel Fandel Property Management 760-744-7752 706 N. Cleveland St. Oceanside Beach, 92054 3 Bedroom, 2 bath smokefree beach house available for short- or long-term rentals. Includes front and rear terraces, 2 car garage with remote clicker and laundry equipment. Fully furnished. Rent: $2000/month; Deposit = 1 month rent. For more information and availability call Dawn: 760-744-7752 01/21/2004/F1 Smokefree house in Oceanside. Sorry, No Vacancy 12/24/2002/N6 Smokefree apartments at 323 S. Nevada. Sorry, No Vacancy 12/24/2002/K3 Smokefree house in Oceanside. For more information contact Debbie or Van Schroeder, 760-733-0534. 12/23/2002/S14 Smokefree single family home, near Mira Costa College. Call Jackie Burns, 760-721-9283 Sorry, No Vacancy 06/25/2002/B16 San Diego 3736 Mississippi Street San Diego 1 Bedroom, 1 bath apartment Contact: Michael J. Palermo Sorry No Vacancy 09/10/04/P13 Smokefree duplex in the Bankers Hill area Sorry, No Vacancy 04/02/2003/R6 Dawn Fandel Fandel Property Management 760-744-7752 Smokefree townhouse at 2717 Menlo Ave. Sorry, No Vacancy 12/24/2002/F1 Vista Oak Terrace Apartments 24 Smokefree units Watch for listing 04/02/2003/M2 Smokefree Apartment House Registry 10722 White Oak Avenue, Suite 5, Granada Hills, CA 91344 818/363-4220 - FAX: 818/363-2260 email - smokefreeapartments @pacificnet.net | http://www. smokefreeapartments.org _____________________________________________________________ Comments? Questions? EMail Smokefree Apartment House Registry Created 03.01.00 - Updated 09.10.2004 - Built by Nightwatch
.: Welcome :. Apartments, homes and condos! Pictures, floor plans and maps! Search 1000's of apartments! List your apartment for free! .: Useful Links :. .: Add Your Listing :. ' San Diego Apartments For Rent Click here to view apartments for rent in San Diego! Or search by selecting a state / province from the map below: Click here to view apartments for rent in San Diego! San Diego city information: Area: 330 sq km Population: 1.2 million Country: USA Time Zone: GMT/UTC -8 (Pacific Time) Telephone Area Code: 619, 858, 760 935 Forget the pace, price and pollution of LA - if you want to wet your feet in the So-Cal beach scene, pull on your kneebangers and start styling with the boardheads in affluent, conservative, blessed-by-nature, merging-with-Mexico San Diego. Its superb coastline, near-perfect climate and Mediterranean facade make it the quintessential Southern California beach city, and there are plenty of sights and activities - museums, zoos, animal parks, beaches and more - to keep you busy for a few days. Most searched cities in the United States: Atlanta Denver Memphis Portland Austin Detroit Miami Sacramento Baltimore Fort Lauderdale Milwaukee Salt Lake City Boston Fort Worth Minneapolis San Antonio Charlotte Houston Nashville San Diego Chicago Jacksonville New Orleans San Jose Cincinnati Kansas City New York City Seattle Cleveland Las Vegas Orlando St Louis Colorado Springs Los Angeles Philadelphia Tampa Columbus Madison Phoenix Tucson Dallas Manhattan Pittsburgh Washington Map of San Diego: San Diego crime rates: The Relocation Crime Lab Index gives the city's crime rate relative to the national average of all the cities in our database. A value of 100 means that the city is exactly average. A value of 200 means that the city has twice the crime rate as the average city. A value of 50 means that the city has half the crime rate of the average city. Robberies 123 Rapes 27 Homicides 4 Aggravated Assaults 424 Motor Vehicle Thefts 876 Crime Lab Index 111 San Diego has a Relocation Crime Lab Index of 111 which is a higher crime rate than the national average. Apartments For Rent: Use Apartment Corner to find that perfect apartment. Our apartment search is fast and easy allowing you to save time and money. If it's quantity you're looking for, we have over 200,000 apartment rentals listed in our database making us one of the largest apartment guides out there. We have everything from 50-storey apartment complexes to affordable basement apartments to elegant town homes. Have a look at what others are saying about us: Awesome service, thank you!! Your apartment search was very user friendly and easy to use. Your site provided me with a long list of apartment rentals that allowed me to find a great apartment in less than a week. I also liked being able to save my favorite apartment rentals and come back to them later. With every other apartment guide I had to do the whole apartment search over again. This is one apartment guide that I will definitely recommend to all my friends. -- Erika L. Property Owners: Are you looking to fill your vacancy? Sign up as a property owner and list your vacancy for free! 101 Apartments is a free resource for all property owners looking to add their apartment complex, house for rent, basement apartment, townhouse or even if you are looking for a roommate or have an apartment that is student friendly. Sign up today and reach thousands of potential tenants. Get started by signing up here as a property owner. Apartment Rentals in Canada: Calgary Hamilton Montreal Toronto Edmonton Kitchener North York Vancouver Etobicoke London Ottawa Victoria Halifax Mississauga Scarborough Winnipeg
Housing statistics San Diego s housing crisis statistics and quotes Increasing housing prices in San Diego: San Diego County s r esale single family homes are at a record high median price of $525,000; the median resale price for condos is $370,000. (SDUT/DataQuick Information Systems, 10/7/04 and 9/15/04) The median price of housing in San Diego doubled between 2000 and 2004, but the median household income only increased 10.4 percent, from $47,268 to $52,191. (SDUT, 10/31/04) San Diego County s housing affordability continues to plummet, with just 10 percent of households able to purchase the median-priced home , according to the California Association of Realtors. (San Diego Union-Tribune, 10/15/04 ) According to the National Association of Realtors, The median price of a single-family house [in San Diego] has increased $152,700 in the last year, or $418 per day . (SDUT, 8/31/04) Housing prices in San Diego have created a crisis of unbelievable proportions, said Mitch Mitchell of the Greater San Diego Chamber of Commerce. It's a problem with enormous implications for the region. (SDUT, 9/5/04) Local companies are increasingly being told by middle- and lower-income employees that high housing prices are forcing them to seriously think about relocating to other cities, according to W. Erik Bruvold, a vice president of the San Diego Regional Economic Development Corp. Additionally, businesses are finding that prospective employees are unwilling to move here, said Bruvold. (SDUT, 12/4/04 ) Families have to make over $135,000 to afford median priced homes in San Diego . For San Diego, the median price used by the California Association of Realtors was $579,040 [presumably including new homes], and the necessary median income would have been $135,717. (SDUT, 10/15/04 ) San Diego County ranks as the fifth most expensive major urban center for housing in the United States, according to a national survey by Virginia research group ACCRA, which focuses on apartment rental costs and monthly mortgage payments rather than total home prices. (SDUT/ACCRA, 8/31/04) In San Diego, 29 percent of residents are considering moving out of the state because of high housing prices, according to the Public Policy Institute of California. (SDUT, 11/18/04 ) Incomes: In San Diego, the median income for a family of four is $63,400, according to the U.S. Department of Housing and Urban Development. In San Diego County, one in every five or 20 percent of every renter household spends at least 50 percent of its income on housing , according to the U.S. Census Bureau. (SDUT, 8/27/04 .) Examples of average wages not keeping up with housing prices (according to the National Housing Conference s Center for Housing Policy): elementary school teacher, $48,840; police officer, $58,370; nurse $35,080; retail salesperson, $19,150; and janitor, $18,110. (San Diego Housing Federation weekly brief, 8/27/04). SANDAG estimates that 172,000 local employees, or 13 percent of the work force, earn less than $8.35 an hour. Apartment shortages and rents in San Diego : The average apartment rent in San Diego is $1,210 a nearly 100 percent increase from 1990, when average rents were $643 (and a 3.2 percent increase over last year). (SDUT, 8/27/04 and 10/21/03 ). Rental vacancies in San Diego have fluctuated between less than one and just over four percent from 1996-2004. The region s vacancy rate is currently 3.7 percent. (San Diego County Apartment Association annual rental vacancy reports and SDUT, 10/21/04 ) Housing shortage and traffic: Over the last ten years, the number of people commuting between Riverside and San Diego Counties increased by 167%, according to the U.S. Census Bureau. (SDUT 3/6/03 ) The lack of affordability and traffic congestion are the biggest problems facing Californians, according to a survey conducted by the Public Policy Institute of California. (SDUT, 11/18/04 ) Eighty percent of Californians say housing and traffic problems will be worse in 2025, according to a survey conducted by the Public Policy Institute of California. (SDUT 8/29/04 ) Housing policy: Inclusionary zoning has surfaced as a policy solution to rising housing costs in big cities San Diego is a trail-blazing example that other urban centers can follow. (American Planners Association, Zoning Practice, October 2004) top of page Home | Site Map | Search | Website Help | Contact Us | About Us
if (window!= top) top.location.href=location.href window.status = "SanDiegoApartments.com" San Diego Apartments San Diego's New Leader in Apartment Sales Rental Listings W elcome to the definitive resource for rental vacancies and investment property sales in San Diego County. To begin, specify if you are a renter looking for a vacancy or a buyer looking to purchase a property. Looking for an apartment to rent? Search through our database of vacancies in San Diego. [ Frameless Version ] Designed for Brokers Investors, the sales section contains many available apartment listings. [ Frameless Version ] Looking for apartment sales in Orange County? http://www.OrangeCountyApartments.com  
Current Commercial Eclips Watch for the next C I Eclipse on Tuesday, November 16, 2004 . Links to articles accessible on the Internet are provided in blue when available. To receive copies of any other articles in this list, or if a link to an Internet article is no longer valid, please reply to this e-mail or contact the WIRC at x1251. 1. Baltimore Office Properties Spark Strong Buyer Interest , ( Commercial Property News , Nov. 15, 2004). 2. Hotels are hot, but strip malls are not , ( Hotels Magazine , Nov. 15, 2004). 3. Commercial office vacany rate changes little in year , ( Pittsburgh Tribune-Review , Nov. 13, 2004). 4. Downtown commercial real estate market on the rise , ( Jacksonville Daily Record , Nov. 12, 2004). 5. Local brokers say commercial development slowing , ( Las Vegas Review-Journa l, Nov. 12, 2004). 6. hotels fill faster than office space , ( The St. Louis Post-Dispatch , Nov. 12, 2004). 7. Metro area's future under microscope at real estate expo , ( Denver Post , Nov. 12, 2004). 8. Retail registers big during third quarter , ( Las Vegas Business Press , Nov. 12, 2004). 9. Commercial Real Estate Rents to Rise as Vacancies Decline , ( North Texas e-News , Nov. 11, 2004). 10. Blueprint for future buildings: greener , ( Denver Post , (CO) Nov. 10, 2004). 11. Deals Are Hot and Heavy but the Talk Is of a Bubble , ( New York Times , Nov. 9, 2004 id = wirc1 and password = realtor ). Brought to you by NAR's Information Central COMMERCIAL-INVESTMENT REAL ESTATE Wednesday, November 10, 2004 ------- Watch for the next C I Eclipse on Tuesday, November 16, 2004 . Links to articles accessible on the Internet are provided in blue when available. To receive copies of any other articles in this list, or if a link to an Internet article is no longer valid, please reply to this e-mail or contact the WIRC at x1251. 1. A lot of room for improvement , ( Denver Post , Nov. 10, 2004). 2. Region again hears sound of building boom , ( Seattle Times , Nov. 8, 2004). 3. Investors bid up apartments , ( MSNBC , Nov. 8, 2004). 4. Industrial developers adapt to changing needs , ( Atlanta Business Journal , Nov. 8, 2004). 5. Renters face housing problems after hurricanes , ( Daytona Beach News-Journal , Nov. 7, 2004). 6. Local commercial real-estate market's sluggish , ( Lansing State Journal , Nov. 7, 2004). 7. Region's Affluence Yields Stable Returns , ( Washington Post , Nov. 7, 2004). 8. Commercial condos are alternative to renting , ( Marin Independent-Journal , (CA) , Nov. 7, 2004). 9. Office market softens: Economic development will drive rebound , ( Albany Business Journal , Nov. 7, 2004). 10. Industrial real estate market heats up in region , ( Pittsburgh Tribune-Review , Nov. 6, 2004). 11. Office building in D-FW may boom , ( Dallas Morning News , Nov. 4, 2004). Brought to you by NAR's Information Central COMMERCIAL-INVESTMENT REAL ESTATE Wednesday, October 27, 2004 ------- Watch for the next C I Eclipse on Tuesday, November 2, 2004 . Links to articles accessible on the Internet are provided in blue when available. To receive copies of any other articles in this list, or if a link to an Internet article is no longer valid, please reply to this e-mail or contact the WIRC at x1251. 1. Office vacancy rates shrink as jobs expand , ( The Oregonian , Oct. 27, 2004). 2. Hawaii hotels three-quarters full in September , ( USA Today , Oct. 27, 2004). 3. Tucson apartment rent likely to rise , ( AZ Central , Oct. 27, 2004). 4. County vacancy rate at new low , ( Los Angeles Daily News , Oct. 26, 2004). 5. Commercial real estate lacks signs of big surge , ( San Diego Union Tribune , Oct. 26, 2004). 6. Office market ignites , ( Parsippany Daily Record , Oct. 24, 2004). 7. Triad apartment rental rates remain steady , ( Greensboro News Record , Oct. 22, 2004). 8. Big changes loom for managers of corporate real estate , ( Sacramento Business Journal , Oct. 22, 2004). 9. Retail space in Manhattan rises , ( Big News Network , Oct. 22, 2004). 10. Landlords find slow apartment market , ( Sacramento Bee , Oct. 21, 2004). 11. Lodging report: Occupancy and room rates rise , ( Denver Business Journal , Oct. 21, 2004). 12. Apartment rents climb , ( San Diego Union Tribune , Oct. 21, 2004). 13. Austin hits highest apartment occupancy rate in two years , ( Austin Business Journal , Oct. 19, 2004). Brought to you by NAR's Information Central COMMERCIAL-INVESTMENT REAL ESTATE Tuesday, October 19, 2004 ------- Watch for the next C I Eclipse on Tuesday, October 26, 2004 . Links to articles accessible on the Internet are provided in blue when available. To receive copies of any other articles in this list, or if a link to an Internet article is no longer valid, please reply to this e-mail or contact the WIRC at x1251. 1. New office buildings send up vacancy rate , ( Charlotte Observer , Oct. 19, 2004). ( Free Subscription required ). 2. Construction bounces back after recession , ( Everett Herald , Oct. 18, 2004). 3. Office: Landlords cheer up a bit in central Perimeter market , ( Atlanta Business Journal , Oct. 18, 2004). 4. Sign of LI's times: 'Space available' , ( Newsday , Oct. 18, 2004). 5. Office, R D leasing inches up , (Silicon Valley/San Jose Business Journal , Oct. 18, 2004). 6. C W Broward office market strong , ( South Florida Business Journal , Oct. 18, 2004). 7. Little selling in this market , ( Newark Star Ledger , Oct. 18, 2004). 8. The state of downtown , ( Minneapolis Star Tribune , Oct. 17, 2004). ( Free Subscription required ). 9. Inside Real Estate: Supply of office space not meeting demand , ( Business First Buffalo , Oct. 16, 2004). 10. Pair of surveys put region near the top -- and bottom , ( Pittsburgh Tribune-Review , Oct. 16, 2004). 11. Office vacancies drop to 10 percent , ( Los Angeles Daily News , Oct. 15, 2004). 12. Local apartment market on the upswing , ( Puget Sound Business Journal , Oct. 12, 2004). 13. Warehouse Markets Flex Their Muscles , ( CoStar Group , Oct. 13, 2004). 14. Occupancy rates for offices improve after downturn , ( Houston Chronicle , Oct. 12, 2004). Brought to you by NAR's Information Central COMMERCIAL-INVESTMENT REAL ESTATE Tuesday, September 21, 2004 ------- Watch for the next C I Eclipse on Tuesday, October 19, 2004 . Links to articles accessible on the Internet are provided in blue when available. To receive copies of any other articles in this list, or if a link to an Internet article is no longer valid, please reply to this e-mail or contact the WIRC at x1251. PLEASE NOTE: The WIRC's weekly eclipses will be on hold beginning next week as we prepare for the move to 500 New Jersey Avenue. Eclipses will resume their usual schedules starting on Wednesday, October 13. 1. Sleepy office market looks ready to get back to work , ( Times Picayune , Sep. 21, 2004). 2. Portsmouth feeling retail-space squeeze , ( Portsmouth Herald , Sep. 21, 2004). 3. Local retail growth getting ahead of demand , ( Raleigh News , Sep. 21, 2004). 4. Office space growing , ( The Intelligencer , Sep. 19, 2004). 5. There's room at the inns , ( Ann Arbor News , Sep. 19, 2004). 6. Downtown hotels roll dice on conventions , ( Houston Chronicle , Sep. 18, 2004). 7. Maui hotels were fullest last week , ( Pacific Business News , Sep. 17, 2004). 8. Raising the roof in order to sell it , ( Boston Globe, Sep. 17, 2004). 9. KC-area industrial vacancies decline , ( Kansas City Business Journal , Sep. 16, 2004). Brought to you by NAR's Information Central COMMERCIAL-INVESTMENT REAL ESTATE Tuesday, September 14, 2004 ------- Watch for the next C I Eclipse on Tuesday, September 21, 2004 . Links to articles accessible on the Internet are provided in blue when available. To receive copies of any other articles in this list, or if a link to an Internet article is no longer valid, please reply to this e-mail or contact the WIRC at x1251. 1. Washington retail real estate still hot , ( Washington Business Journal , Sep. 14, 2004). 2. CB Richard Ellis Opens Door for Its Expansion , ( Los Angeles Times , Sep. 13, 2004 - id = wirc1 and password = realtor ). 3. North commercial boom inevitable , ( The News-Press , Sep. 12, 2004). 4. SD area's apartment market is on the rise , ( San Diego Union Tribune , Sep. 12, 2004). 5. It's no trip: Boulder rental prices dip , ( Rocky Mountain News , Sep. 12, 2004). 6. Developers are banking on popularity of ''lifestyle centers'' , ( Virginian Pilot , Sep. 11, 2004). 7. Investors drive up office values , ( MSNBC , Sep. 10, 2004). 8. Hotel rentals, prices drop off , ( Anchorage Daily News, Sep 9, 2004). Copyright NATIONAL ASSOCIATION OF REALTORS Headquarters: 430 North Michigan Avenue, Chicago, IL. 60611-4087 DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020 1-800-874-6500 License Agreement | Privacy Policy | REALTOR.com | Contact NAR
Home Press Articles General Press Announcements Notable Transactions Articles 2004-12-06 - Burnham Real Estate Announces Multifamily Partnership with Apartment Realty Advisors SAN DIEGO - Burnham Real Estate, one of Southern California’s largest privately held real estate services companies, has formed a strategic partnership with Apartment Realty Advisors (ARA), a national... 2004-11-29 - San Diego Apartment Sales Hit Highest Quarterly Level of Activity Since 1989 SAN DIEGO – Burnham Real Estate * ONCOR International reports that there were 373 apartment sales during the three month period ending September 30, 2004, the highest level of quarterly activity since... 2004-10-28 - Copley Drive Office Building Available for Lease SAN DIEGO – Moteng International’s recent acquisition and move to a new 71,000-square-foot headquarters facility in Poway, more than doubled the company’s space and is one more giant step forward for ... 2004-10-26 - San Diego County Industrial Market on Track to Absorb 2 Million Square Feet of Space SAN DIEGO – The San Diego County industrial market reports 1,002,884 square feet of year-to-date net absorption, a number that is expected to top 2 million square feet by year-end as a surge in newly ... 2004-09-29 - Strong State of Downtown Retail Market Being Driven by New Residential and Office Development SAN DIEGO – A just released report by Burnham Real Estate shows that the downtown San Diego retail market is very strong, with new residential and office development boosting demand for space and lowe... 2004-08-26 - San Diego County Apartment Sales Set 15-Year Quarterly High SAN DIEGO – San Diego County apartment sales hit a 15-year high during the second quarter of 2004, with 350 transactions involving 6,291 units. According to a just released Burnham Real Estate repo... 2004-08-05 - Burnham Real Estate Services Announces Move to New and Larger Carlsbad Offices CARLSBAD, Calif. – Burnham Real Estate has moved its Carlsbad regional operations to larger offices located at 6005 Hidden Valley Road, Suite 270, Carlsbad. The new offices will accommodate Burnham’s... 2004-08-03 - Construction Begins on Rio San Diego Plaza II SAN DIEGO – Burnham Real Estate * ONCOR International announces that grading has commenced on Rio San Diego Plaza II in Mission Valley. This 75,525-square-foot Class A office building is being develo... 2004-08-02 - San Diego Industrial Absorption Tops 1 Million Square Feet SAN DIEGO – A mid-year study by Burnham Real Estate shows that demand for San Diego County industrial space continued to gain momentum during the second quarter of 2004 with 1,097,741 square feet of n... 2004-07-29 - Opening of SR-56 Launches New Class A Office Market SAN DIEGO – With the long-awaited grand opening of SR-56 connecting Interstate 5 with the inland I-15 Corridor, a new Class A office market is emerging with over 1.1 million square feet of space alrea... 2004-07-27 - San Diego Office Market Continues to Gain Strength SAN DIEGO – A rapidly improving San Diego County office market is sparking the region’s first significant speculative development in three years, setting the stage for higher net absorption, lower v... 2004-07-15 - San Diego: A Climate For Growth Western Real Estate Business - San Diego: A Climate For Growth View Article ... 2004-05-28 - Location, Thoughtful Development Drive - Bright Outlook For Mission Valley Office Market SAN DIEGO – When it comes to stability in the San Diego office market, count on the three “Ls” – location, location and location. While over time most office markets experience vacancy highs and ... 2004-05-26 - First Quarter Apartment Sales Set 15-Year Record SAN DIEGO – The 326 sales of apartment projects with 4,763 total units during the first quarter was the highest number of sales recorded during the first three-month period of any year since 1989 when... 2004-05-19 - New Reports Cites Improving Industrial Market San Diego County’s industrial market continues to show signs of improvement, with a new report by Burnham Real Estate on the region predicting 2.7 million square feet of net absorption in the industri... 2004-05-07 - Office Market Set for 2M SF of Net Absorption in 2004 Ron Miller of Burnham Real Estate was featured in an article in GlobeSt.com. Click here to view the full article ... 2004-04-15 - San Diego County Apartment Prices Reach Unprecedented Highs SAN DIEGO – San Diego apartment prices continue their upward climb, with the average countywide sales price per unit rising over 20 percent in 2003, and the average citywide price per unit up by more ... 2004-02-25 - Newport National Acquires Mission Valley Parcel With Plans to Develop Class A Office Building SAN DIEGO – Newport National Corporation (NNC), a Carlsbad-based real estate development company, has entered the Mission Valley market with the purchase of a 4.5-acre parcel that will be developed in... 2004-01-05 - New Class A Office Building In Escondido Breaks Ground ESCONDIDO – Burnham Real Estate Services announces that ground has been broken on a new Class A office building in downtown Escondido that is being built by The Slatestone Group LP, a limited partners... 2003-12-10 - Burnham Projects Improved Job and Real Estate Outlooks For San Diego Cluster Industries to Drive Growth SAN DIEGO - Recent good news on the national front shows the first real job creation in years. This spells good news for the job and real estate markets in San Die... 2003-12-02 - Third Quarter Apartment Sales Slow Despite Strong Investor Demand SAN DIEGO - A just released Burnham Real Estate report shows that the 299 sales of apartment properties in the third quarter of 2003 represents a 3.9 percent decline from the same period a year ago wh... 2003-11-05 - Downtown Retail Market Expands to Meet Demand of New Residential, Ballpark SAN DIEGO - A new downtown San Diego retail report by Burnham Real Estate shows that the market has grown to include over 3 million square feet of retail space - a number that will continue to increas... 2003-10-13 - Third Quarter Rebound For San Diego County Office Market SAN DIEGO - A just released report by Burnham Real Estate Services shows that the San Diego County office market rebounded during the third quarter with 843,650 square feet of net absorption, a marked... 2003-08-21 - San Diego County Apartment Sales Decline In Second Quarter; Condo Permits Skyrocket SAN DIEGO - A just released report by Burnham Real Estate Services shows that the number of second quarter 2003 apartment sales declined by 31.9 percent from the same three-month period in 2002, altho... 2003-06-06 - Apartment Sales Rise 7.7% in First Quarter; Number of Units Sold Declines SAN DIEGO - While the volume of first quarter 2003 apartment sales in San Diego County rose 7.7 percent over the same period in 2002, the number of units sold fell by 33.9 percent due to a decrease in... 2003-05-12 - San Diego County Average Apartment Prices Top $100,000 per unit; 2002 Yet Another Record Year, Burnham Report Shows SAN DIEGO - Burnham Real Estate Services reports that the average per-unit selling prices of San Diego County apartments hit an all-time high of $101,544 in 2002, a 39.7 percent increase over $72,693 ... 2003-01-24 - San Diego Office and Industrial Markets Are Holding Their Own; Investment Sales Continue Record Pace SAN DIEGO - Burnham Real Estate Services reports that the San Diego commercial real estate market fared better than expected last year, with office and industrial leasing activity exceeding original p... 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