Socal Multiunit Real Estate

CURBING GREENHOUSE GAS EMISSIONS - THE GOVERNATOR’S LEGACY

CURBING GREENHOUSE GAS EMISSIONS - THE GOVERNATOR’S LEGACY

By Jodi Summers

Governor Arnold Schwarzenegger will eventually leave office, but his impact may be felt for generations to come. AB 32 and Order S-21-09 – California admirably and aggressive energy initiatives pushed forward by our governor, may actually make the world a cleaner, better place.

“Global warming is a global problem that requires a global solution and I am committed to working toward that solution so our children and grandchildren are left with a clean environment and a strong economy,” observes Governor Arnold Schwarzenegger. “Our policies have influenced the world.”

Thought you’d all appreciate a little primer on AB 32 and Order S-21-09 – California’s bold green energy strategies.

The regulations authorized under AB 32, California’s landmark 2006 global warming initiative gave us the world’s first comprehensive law to reduce greenhouse gas (GHG) emissions. Current law requires investor-owned utilities such as Edison to produce 20% of their power from wind, solar and geothermal energy by 2010 (a target they are expected to miss.)

AB 32 mandates a reduction of California’s GHG emissions to 1990 levels by 2020 and calls for an 80 percent reduction from 1990 levels by 2050. The state has approved an AB 32 Scoping Plan as a blueprint for reducing GHG emissions, adopted measures from the Low Carbon Fuel Standard to the Pavley Vehicle Standards to address 40 percent of its overall goals and is working on more than 20 additional measures such as a cap-and-trade system to fully meet AB 32 mandates.

Recently, the Governator signed Executive Order S-21-09, directing the California Air Resources Board to adopt regulations increasing California’s Renewable Portfolio Standard to 33 percent by 2020 - putting California on track to becoming the largest clean energy producer in the nation.

“Every year it becomes more apparent that no single issue threatens the health and prosperity of our world, or provides a greater opportunity for economic success than climate change,” concludes the governor. “That is why California has stepped up to take the lead. Three years ago I signed the world’s most comprehensive global warming law and since then our emissions have been reduced, our green economy has grown and our policies have influenced the world.”

Once his term as governor is finished, Arnold Schwarzenegger may find himself joining former Vice President Al Gore in the crusade for a cleaner planet.

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http://gov.ca.gov/issue/energy-environment/

http://www.sgvtribune.com/news/ci_13345618?source=rss

http://www.latimes.com/business/la-fi-power16-2009sep16,0,3412344.story

http://www.environmentamerica.org/uploads/ig/hp/ighpWSCwRpKVJbuUaA7LCA/DSC_0263.jpg

http://image.guardian.co.uk/sys-images/Guardian/Pix/martin_rowson/2006/09/01/rowsonatlas512.jpg

http://www.pollsb.com/photos/o/38053-release_greenhouse_gasses_atmosphere_believed_cause_global_climate_changes_following_causes_increase_greenhouse_gas_emissions.jpg

http://tvtropes.org/pmwiki/pmwiki.php/Main/ArnoldSchwarzenegger

http://images.businessweek.com/ss/06/04/sb_presentations/source/7.htm

REGISTER YOUR CELL PHONE ON THE DO NOT CALL LIST

REGISTER YOUR CELL PHONE ON THE DO NOT CALL LIST

By Jodi Summers

Cell Phone Numbers Go Public this month….meaning cell phone numbers are being released to telemarketing companies and you will start to receive annoying sales calls on your cell phone…and YOU WILL BE CHARGED FOR THESE CALLS.

To prevent this, call the National DO NOT CALL list number from you cell phone. That number is - 888-382-1222.

Registering will block your number for five (5) years.

FYI - You must call from the cell phone number you want to have blocked. You cannot call from a different phone number.

GUEST POST - VA LOAN OPPORTUNITIES

GUEST POST - VA LOAN OPPORTUNITIES

by Jay Buerck

Veterans and their families in Southern California can take advantage of one of the country’s most affordable and flexible home loan programs. The Veterans Administration’s home loan program was created specifically for the needs of those who have served our country.

VA loans offer veterans an almost unmatched degree of flexibility. The VA guarantees loans from commercial institutions. That security gives lenders the ability to offer competitive rates and favorable loan terms for qualified borrowers.

VA loans come with myriad financial benefits. Borrowers can purchase a home without spending a penny on a down payment or monthly private mortgage insurance. The VA has loan limits that vary from state to state. Some borrowers can qualify for 100 percent financing. Currently, VA loan limits for San Diego County is $593,750. In Orange County, the loan limit is $737,500. USe a VA Loan Calculator to determine the loan limit for your home purchase.

The VA has multiple loan options. Veterans must first obtain a Certificate of Eligibility (COE) before moving forward with the application process. The COE ensures that a prospective borrower meets the program’s initial requirements.

Any military member who has served 181 days on active duty during peace time or 90 days during war time may be eligible, along with those who have served at least six years in the Reserves or National Guard. Spouses of service members killed in the line of duty may also be eligible.

Not everyone who meets the basic criteria will qualify for a loan. But veterans with poor credit can still qualify for a VA loan. So can those who have filed for bankruptcy or faced foreclosure.

Southern California veterans who currently have a conventional home loan can also benefit from a VA loan. Qualified borrowers can now refinance up to 100 percent of their home’s appraised value through a VA loan.

URGENT! CONTACT YOUR CONGRESSMAN TO AVOID COMMERCIAL REAL ESTATE TAX HIKES

Action to Oppose More Than Doubling of Taxes on Real Estate Carried Interests

Edited by Jodi Summers

In early December, Congressman Charles Rangel Ways, chairman of the Ways and Means Committee of the House of Representatives, introduced the “Tax Extenders Act of 2009″ (H.R. 4213). Wrapped in this legislation package is a proposal that would more than double the taxes on carried interest received by general partners in real estate partnerships. Under this legislation, carried interest would no longer be taxed as capital gains at 15 percent, but as ordinary income at rates as high as almost 35 percent…making everyone’s investment real estate holdings a lot less sexy.

Kick us while we’re down. Those investing in commercial real estate are already feeling economic distress because of the decline of property values and the lack of loans available. The proposed legislation would more than double the taxes imposed on many real estate entrepreneurs.

If H.R. 4123 enacted into law, this proposal could be the largest modification to the taxation of real estate since the Tax Reform Act of 1986.

This bill was past stealthfully, proposed on December 7^th, it bypassed the customary legislative process, bypassing the House Ways and Means Committee, and going directly to the House floor for a vote on December 9, reducing meaningful opportunities to amend the bill.

Safeguard your real estate assets; communicate with your Congressional Representatives and Senators! Let them know that this tax increase on carried interest will further damage the commercial real estate industry and undermine efforts in their own communities to spur job growth and economic recovery.

http://www.capwiz.com/naiop/issues/alert/?alertid=14439831&type=CO has letters ready to go to your congressmen.

Save your assets and contact them.

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http://www.capwiz.com/naiop/issues/alert/?alertid=14439831&type=CO

http://www.ysop.org/images/Capitol.jpg

LOS ANGELES MULTIUNIT PROPERTY SNAPSHOT – DECEMBER 2009

LOS ANGELES MULTIUNIT PROPERTY SNAPSHOT – DECEMBER 2009

By Jodi Summers

Didja know that Los Angeles County (Los Angeles-Long Beach-Glendale Metro Division) covers 4,084 square miles, and had a January 1, 2008 population of 10,363,800 residents? According to the California Department of Finance, this is an increase of 844,500 persons since 2000. What’s more, according to the American Community Survey of 2007, the demographic profile of Los Angeles County indicates that: 47.3% of the population is Hispanic, 28.8% white non-Hispanic, 14.4% Asian-Pacific Islander, and 9.6% black. About 75% of the population has a high school diploma or more, while 28% has a bachelor’s degree or more.

All those people need a place to live, which is why the multiunit property market is so hot…and now is a great time to buy. New construction is way down, and gross rent multipliers have dropped considerably. Savvy investors know that we are at the bottom of the marketplace….and statistics will prove this. According to Clarus Market Metrics, from November 2007 – November 2009, the number of for sale properties is down 49% and the number of sold properties is up 45%. To augment this dynamic multiunit market statistic, note that the median price of properties for sale is down 11% and the median price of sold properties is down 69%. Very appealing statistics for investors.

Real estate magnet Sam Zell recently noted that a further crash in the multiunit real estate market is “…Greatly exaggerated… Everyone is waiting for the grave dancer to come and exercise his magic potion, but you need two to tango.”

Zell observed that owners of apartment buildings do not necessarily have an incentive to sell, and vacancy rates are still hovering very low, around 5% in more desirable parts of town.

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http://www.laedc.org/eedge/index.html

http://www.laedc.org/businessscan/charts

http://www.laedc.org/newsroom/releases/2009/072209_MidYearForecast.pdf

http://www.grubb-ellis.com/research/reports.aspx

http://www.laedc.org/eedge/index.html

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=36105&print=1