Socal Multiunit Real Estate

BARKER PACIFIC GROUP IS READY TO BUY AS VALUES READJUST

BARKER PACIFIC GROUP IS READY TO BUY AS VALUES READJUST

by Jodi Summers

Barker Pacific Group has a new strategy. The LA-based investment and development firm has two new principals and plans to raise $300 million of new equity to acquire distressed and value-added commercial real estate notes and properties.

The company is targeting leverage ratios in the range of 50% and is looking for both performing and nonperforming properties and notes. It has already acquired a note that is performing but is going to be coming due, and it is considering another that is performing that it would acquire at a discount.

Although Barker expects that commercial real estate foreclosures will increase, he anticipates that most of the opportunities to acquire distressed assets will arise from the financing problems that borrowers will face when their loans mature. Borrowers who financed properties two or three years ago may find that those assets have declined in value, so they won’t be able to refinance them at the same loan-to-value ratios and may well face huge capital requirements, he points out.Barker says that other opportunities for value-add acquisitions may arise in a variety of situations, such as when a lease rolls over and a major tenant vacates a building. Value-add is a loosely defined term, he observes, but most people think of the phrase in terms of properties that require some work to be done, such as finding tenants for empty space or investing in capital improvements.

Get the whole story @

http://www.cityfeet.com/News/NewsArticle.aspx?Id=31664

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HOUSEPLANTS TO MAKE YOUR LIFE HEALTHIER

HOUSEPLANTS TO MAKE YOUR LIFE HEALTHIER

by Jodi Summers

Here’s a fabulous tidbit you can share with your friends about greening your environment. According to a recently completed two-year study by NASA and the Associated Landscape Contractors of America, the following houseplants help get rid of common household toxins like benzene (solvent found in detergents, rubber, inks, and paints), formaldehyde (used in particle board and grocery bags), and trichloroethylene (used in varnishes, adhesives, and paints):

1. Areca palm (Chrysalidocarpus lutescens)

2. Lady palm (Rhapis spp.)

3. Bamboo palm or reed palm (Chamaedorea seifrizii)

4. Rubber plant (Ficus elastica)

5. ‘Janet Craig’ dracaena (Dracaena deremensis ‘Janet Craig’)

6. English ivy (Hedera helix)

7. Dwarf date palm (Phoenix roebelenii), xylene

8. ‘Alii’ ficus (Ficus macleilandii ‘Alii’)

9. Boston fern (Nephrolepis exaltata ‘Bostoniensis’)

10. Peace lily (Spathiphyllum spp.)

11. Corn plant (Dracaena fragrans ‘Massangeana’)

12. Golden pothos (Epipremnum aureum)

13. Kimberley Queen fern (Nephrolepis obliterata)

14. Florist’s mums (Chrysanthemum morifolium)

15. Gerbera daisy (Gerbera jamesonii)

All the details @ http://www.sti.nasa.gov/tto/Spinoff2007/ps_3.html

APARTMENT MARKET CONTINUES TO STAY STRONG – BUY ANYTIME

APARTMENT MARKET CONTINUES TO STAY STRONG – BUY ANYTIME

 by Jodi Summers

The most recent report from Grubb & Ellis notes that apartments will have a tough year, even with the addition of renters who have lost their homes to foreclosure, because of the increasing supply of unsold condos and homes now available for rental. As usual, Los Angeles, as well as California’s other major cities are predicted to be the strongest multiunit investment market.

The top-10 rental housing markets from 2009-2013 will be:

1. Los Angeles
2. San Francisco
3. Orange County, Calif.
4. Oakland/East Bay, Calif.
5. Washington, D.C.
6. San Diego
7. New York City
8. San Jose, Calif.
9. Long Island, N.Y.
10. Portland, Ore.

The whole story @ http://www.realtor.org/RMODaily.nsf/pages/News2009010602?OpenDocument

BUY SOON - REAL ESTATE SALES ARE STARTING TO RISE IN LOS ANGELES + OTHER PLACES

BUY SOON - REAL ESTATE SALES ARE STARTING TO RISE IN LOS ANGELES + OTHER PLACES

by Jodi Summers

Las Vegas real estate properties are down 28 percent in price, but sales of homes are up 15 percent.

Motivated buyers accounted for 64 percent of Las Vegas sales in October, says Radar Logic, a derivatives firm. That’s the highest rate in the country.

“There’s a pretty active housing market, it’s simply at a lower-priced inventory,” says Michael Feder, chief executive of Radar Logic. “And there are now bidding wars taking place over homes in foreclosure.”

Phoenix and San Diego are reporting similar experiences.

“We’re clearing out the bad news,” says Kiva Patten, a director at Merrill Lynch specializing in housing derivatives.

“By the end of 2010 – that’s where we’re calling the bottom in the forward market. You’re going to get a small price appreciation in 2011,” says Patten. “It’s not like the turn is 10 percent per year, it’ll be something like 3 percent or 4 percent.”

Here are the cities where experts say it makes the most sense to buy now.

1. Las Vegas

2. Sacramento, Calif.

3. San Diego, Calif.

4. Los Angeles

5. Detroit

6. Phoenix

7. San Francisco

8. Washington, D.C.

9. San Jose

10. Atlanta

All the dirt @ http://www.realtor.org/RMODaily.nsf/pages/News2009011602?OpenDocument

http://www.lvabj.org/LasVegasSign.jpg

REAL ESTATE RENTAL RATES EXPECTED TO INCREASE IN MAJOR CITIES

GROSS REAL ESTATE RENTAL RATES EXPECTED TO INCREASE IN MAJOR CITIES

By Jodi Summers…

It feels like the whole world is in an adjusting real estate market…and multiunits are predicted to become more affordable.

“Across the board, we still see property values are too high in terms of gross rental yields,” observes Matthew Montagu-Pollock, publisher of www.Globalpropertyguide.com. “Markets got ahead of themselves and eventually will collapse.”

Globalpropertyguide.com recently did the research for a Forbes.com report - World’s Priciest Cities To Own A Home.

The report indicates that the gross rental yields, a measure used in the United Kingdom, is the total yearly gross rent divided by the house price and expressed as a percentage, are between 4% and 5% in major cities such as Brussels, Belgium; Tokyo; Moscow; New York; and London.

The lower the gross rental yield, the more overvalued the property.

The “more reasonable” historical average for gross rental yields is 5.5% to 8%.

Six major cities currently offer rental yields of more than 10%. Topping the list is Chisinau, Moldova, with a 14.17% gross rental yield, and Cairo, Egypt, the least expensive property market, with an average price per square feet of $574 and gross rental yield of 12%.

The report suggests that it will take much more time to close the gap and return to normal averages.

Sources:

http://www.forbes.com/2009/02/09/cities-top-expensive-lifestyle-real-estate_0209_cities.html?partner=alerts

http://en.wikipedia.org/wiki/Housing_bubble

http://www.globalpropertyguide.com/

http://www.tiraspoltimes.com/photos/chisinau_the_capital_of_moldova_the_eus_javier_solana_rules_out_eu_membership_for_the_country_which_is_mired_in_corruptio

http://www.ellipsesolutions.com/Locations.aspx

http://commons.wikimedia.org/wiki/File:Botanica_Chisinau.JPG

http://www.cnn.com/WORLD/9710/22/russia.troubled.union/moldova.chisinau.lg.jpg

http://www.lib.utexas.edu/maps/europe/united_kingdom_pol87.jpg

http://persistentillusion.files.wordpress.com/2008/02/moldova-chisinau-webpage.jpg

http://www.love-egypt.com/images/cairo.jpg

http://media-2.web.britannica.com/eb-media/11/20111-004-81B895AA.jpg

http://www.world-mysteries.com/gw_mgray5.htm

ALTERNATIVE ENERGY POLL – SOLAR RULES

ALTERNATIVE ENERGY POLL – SOLAR RULES

Edited by Jodi Summers

An overwhelming majority -92% of Americans polled - Support Solar Energy Development, according to the 2009 Schott Solar Barometer. The Schott Solar Barometer is a national survey conducted by independent polling firm Kelton Research.

The overwhelming support for solar power is consistent across political party affiliation with 89 percent of Republicans, 94 percent of Democrats and 93 percent of Independents agreeing that it is important for the U.S. to develop and use solar power.

Furthermore, close to eight in 10 (77%) Americans feel that the development of solar power, and other renewable energy sources, should be a major priority of the federal government, including the financial support needed. This sentiment also remains the same since June 2008 (77%).

If only given the opportunity to support one source of alternative energy, 43 percent of Americans would opt for solar over other sources such as wind (17%), natural gas (12%) and nuclear (10%).

Almost half of all Americans (49%) say they’re currently pondering solar power options for their home or business – and another three percent already have solar power. Among those who would like to take advantage of solar power at home or at work, seven in 10 (70%) envision they would make the change within the next five years.

The general consensus is that many Americans feel they lack information – fewer than one in five (12%) - can claim that they’re extremely informed about the subject of solar power in general. What’s more, almost three in four (74%) Americans admit they wish they knew more about solar power options for their home or business.

http://www.cleanedge.com/news/story.php?nID=6455

http://www.resourceactionprograms.org/blog/index.php/tag/southern-california/

http://saferenvironment.wordpress.com/2009/02/02/solar-power-%E2%80%93-sustainable-green-energy-to-protect-our-economy-and-environment/

http://www.geni.org/globalenergy/library/articles-renewable-energy-transmission/solar.shtml

http://www.sunandclimate.com/images/solar-power-dallas.jpg

http://www.generatormart.com/200806092224444674.shtml

http://earth911.com/blog/2007/10/15/pros-and-cons-of-solar-power/

GREEN AFFORDABLE HOUSING – THE NEXT FRONTIER?

GREEN AFFORDABLE HOUSING – THE NEXT FRONTIER?

The experts say green affordable housing is within reach. The theory is that if President Barack Obama would green the existing US affordable housing stock–some six million units—this would provide important fiscal, economic and environmental benefits.

David M. Abromowitz, a partner with the law firm of Goulston & Storrs and a senior fellow with the Center for American Progress–a nonpartisan research and educational institute notes that if President Obama’s sustainability goals targeted green retrofitting, it can lead to a growth in employment within the sector. Further, investment in making low-income housing more efficient has the potential to stimulate a green renovation industry with best practices and technologies that would apply to the market-rate housing sector.

Affordable housing currently accounts for almost 17% of the 35-million-unit US housing inventory and because it is federally assisted, targeted green policies would apply. A good portion of subsidized housing is at least 20 years old; more than 65% was built before 1970, before the sustainability trend even emerged.

“A targeted emphasis on energy conservation means these units are prime candidates for necessary renovation work that will generate significant energy and carbon dioxide reductions,” pontificates Abromowitz.

While current government spending on affordable housing energy expenses totals $5 billion, according to the Government Accountability Office, implementing relatively inexpensive improvements–about $2,500 to $5,000 a unit–could result in a cost savings of between 25% and 40%.

“Spending today on a large scale to retrofit millions of units stimulates construction activity, creates jobs and produces better-quality housing and long-term energy cost reductions,” relates Abromowitz.

Public housing authorities and private owners of federally subsidized housing aren’t likely to invest in green improvements themselves, given the costs and existing rules and policies to overcome. Therefore, sustainability would have to be mandated through policy changes that entice owners to give their affordable projects a makeover.

The experience gained from the green retrofit of federally subsidized communities can be applied to the market-rate segment of the housing industry, and a widespread effort to make affordable units more environmentally friendly would result in an increase in green products and workers, leading to a full-fledged green renovation industry. “Early action by HUD on green retrofitting can boost green workforce development and training through recognized federal programs such as YouthBuild and other national service programs, as well as fulfill a longstanding mandate to promote local economic development and improvement and individual self-sufficiency for low or very-low income residents in connection with projects and activities in their neighborhoods,” concludes Abromowitz.

Get the full story @

http://www.globest.com/news/1318_1318/insider/176097-1.html

http://www.youthconservation.org/Images/ABOUT_YCC/Youthbuild%20logo.jpg

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http://www.youthbuild.org/atf/cf/%7B22B5F680-2AF9-4ED2-B948-40C4B32E6198%7D/realestate_davida.jpg

BUILDINGGREEN’S TOP 10 GREEN CONSTRUCTION PRODUCTS

BUILDINGGREEN’S TOP 10 GREEN CONSTRUCTION PRODUCTS

BuildingGreen, is offering its seventh annual list of its top 10 green building products.

Half of the products on the annual have been deemed green because they are made from natural or rapidly renewable materials or agricultural waste. Such products require significantly less energy to manufacture.

And this year’s Top 10 Green Building products are:

Resource Monitor by Agilewaves

http://www.agilewaves.com/products.html

Developed by former NASA engineers, Agilewaves’ flagship product constantly monitors electric, gas and water use and provides accurate consumption and carbon footprint information in real-time, from any web enabled device, from anywhere in the world.

Compacted Earth Brick by Integrity Block

http://www.integrityblock.com/product_line.php

A seamless green replacement for conventional concrete block (CMU), as Inegrity Block products come in a variety of common form factors and sizes. Integrity Block products also meet relevant ASTM (C-90) performance standards for load bearing CMU.

Natura Paint by Benjamin Moore

http://www.benjaminmoore.com/bmpsweb/portals/bmps.portal?_nfpb=true&_pageLabel=fh_aura_hiddenPage&NodeUUID=%2FBEA+Repository%2F574014

Natura premium interior waterborne paint is a zero VOC, virtually odorless formula that doesn’t compromise on performance. It dries fast, has excellent adhesion and provides a durable finish with an unlimited color selection. Natura features our Green Promise designation, so you can breathe easy knowing that you’ve used the very best for your environmentally sensitive projects.

Matrix Total Home System by NTI

http://www.ntimatrix.com/

For our planet and our children, NTI has spent almost 10 years developing, testing and perfecting the technology of The Matrix to deliver a premium system that incorporates a Condensing Water Heater, Condensing Furnace, Condensing Boiler and Heat Recovery Ventilator, and which is already pre-wired for air conditioning. All of these functions are contained in one powerful system that requires less energy to operate than competing products.

Safe N’ Sound Emerald Doors by Masonite

http://www.masonite.com/product_newProducts.php

Masonite’s Safe‘N Sound® is said to be a door that is truly environmentally responsible. Manufactured with DorCor™, a low density fiberboard made from wheat straw, an annually renewable agricultural wheat by-product with a formaldehyde-free synthetic resin.

Natural Fiber Fabrics by O Ecotextiles

http://www.oecotextiles.com/

You can have an immense impact on lightening your environmental footprint by the textile choices you make.

Plyboo by Smith & Fong

http://www.plyboo.com/

Plyboo bamboo flooring and plywood products offer endless possibilities for architects and interior designers, whether the focus is on green building or cutting-edge design.

H2OG by Rainwater HOG

http://rainwaterhog.com/

The rainwater from your roof is a valuable commodity: use Rainwater HOG modular tanks to catch and store your rainwater for reuse on your garden and even in your house. Irrigate with it, hose with it, even shower with it!

SunCache Solar Water Heating System by Harpiris Energy

http://www.harpiris.com/whatissuncache.html

SunCache is an inexpensive solar water heating (SWH) system for residential applications in Sunbelt locations which pre-heats cold water before it enters a conventional backup water heater.

PolyWhey Floor Finish by Vermont Natural Coatings

http://www.vermontnaturalcoatings.com/VNCFloor.html

A clear, durable, topcoat seal for new bare wood flooring or previously stained wood floors. Available in semi-gloss and satin finishes.

“Our selections of the Top 10 Green Building Products represent a wide range of product types in many different application areas,” says BuildingGreen president Alex Wilson.

The Top 10 Green Products list has become a yearly ritual in which the Vermont publisher recognizes the most exciting products drawn from the more than 200 products added to its GreenSpec Directory in the last year.

An appearance on BuildingGreen’s list is seen by many in the industry as a significant event, as the company’s endorsement signals that a product is legitimately sustainable. “New products seem to be appearing all the time, making it a challenge for our staff to keep up,” Wilson says.

This year’s list includes the very first Forest Stewardship Council-certified and formaldehyde-free bamboo flooring, doors made with wheat-straw particleboard, a transparent finish produced from a byproduct of cheese making, and a compressed-earth masonry block. Three of the remaining products save energy, including a low-cost, solar water-heating system; a combination heating, water heating, and heat-recovery ventilation system; and a system for monitoring real-time energy (and water) use in buildings.

More info -

http://www.builderonline.com/green-products/buildinggreen-names-top-10-green-products-for-08.aspx?cid=BLDR081215003