Socal Multiunit Real Estate

GLOBAL USE OF GREEN BUILDING PRODUCTS SKYROCKETING

GLOBAL USE OF GREEN BUILDING PRODUCTS SKYROCKETING

By Jodi Summers

Keep studying those lists of top rated green building products, because global purchasing of green building products will grow to $571 billion by 2013. This growth is more than tenfold from the $455.3 billion spent on green materials in 2008, notes the study by Allied Business Intelligence Research.

“Innovation, particularly in wood and insulation, is a key driver behind the growth of green building products,” observes Larry Fisher, research director of ABI Research’s next generation practice.

“The most significant driver of growth in the green building materials sector is concern for the environment. While environmental preservation has been a topic of discussion for decades, only recently has the level of concern for the environment driven governments, manufacturers and consumers to respond.”

The study notes that businessmen and builders will look toward products with greater energy efficiency produced in an environmentally-friendly manner. Preferred lumber and wood products will come from well-managed forests.

Now if we can only figure out an efficient way to make drinkable ocean water.

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http://www.purchasing.com/article/439362-Buying_of_green_building_products_to_increase.php

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Energy to Sell - States with Renewable Portfolio Standards

States with Renewable Portfolio Standards

Edited by Jodi Summers

Here is a nifty map and chart from the U.S. Department of Energy showing states with renewable portfolio standards - a state policy that requires electricity providers to obtain a minimum percentage of their power from renewable energy resources by a certain date.

California is stellar with the objective of 33% renewable energy by 2030, but not nearly as aggressive as Maine, which is shooting for 40% renewable by 2017.

Currently there are 24 states plus the District of Columbia that have RPS policies in place. Together these states account for more than half of the electricity sales in the United States. Five other states, North Dakota, South Dakota, Utah, Virginia, and Vermont, have nonbinding goals for adoption of renewable energy instead of an RPS.

The chart below gives a rough summary of state renewable portfolio standards and links to organizations that are administering these standards or explain the details involved. Percentages refer to a portion of electricity sales and megawatts (MW) to absolute capacity requirements. Most of these standards phase in over years, and the date refers to when the full requirement takes effect.

http://apps1.eere.energy.gov/states/maps/renewable_portfolio_states.cfm?prin

FYI – NEW MULTIFAMILY LEGISLATION FROM SACRAMENTO

FYI – NEW MULTIFAMILY LEGISLATION FROM SACRAMENTO

By Jodi Summers

Legislators in Sacramento were more interested in finding was of shrinking the new $7.4 billion deficit for the 2010-11 budget than they were in thinking about the hit that apartment building owners have taken in the multiunit marketplace this downturn.

Fortunately, the more ominous legislation affecting multiunit properties has been shelved until next year, but, as a local multiunit property owner, we know you want to know what has passed and what is on the horizon.

Passed

* Assembly Bill 1020 (Emmerson, R-Redlands): Limits fees that may be imposed by local and state government and preempts local health departments from adopting any new or additional safety standards on top of federal guidelines regarding public swimming pools. Brings state regulations in line with federal law regarding anti-entrapment devices in pools.

* Senate Bill 120 (Lowenthal, D-Long Beach): Allows a tenant or occupant who has paid utilities in place of a landlord in order to prevent him or her from being shut off to deduct that amount from rental payments.

* Senate Bill 290 (Leno, D-San Francisco): Extends a Jan. 1, 2010, sunset period for a 60-day termination notice requirement for tenants who live in a property for longer than one year.

Be Aware of

* Assembly Bill 473, from Assemblymen Bob Blumenfield, D-Van Nuys, will require owners of properties with five or more units to arrange for mandatory recycling services.

* Assembly Bill 479, introduced by Assemblyman Wayne Chesbro, D-Arcata, will require local governments in large counties to adopt mandatory recycling laws for commercial properties.

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http://www.carealestatejournal.com/newswire/index.cfm?sid=&tkn=&eid=905490&evid

http://www.consrv.ca.gov/smgb/PublishingImages/CaliforniaStateCapitol02.jpg

http://www.blogcdn.com/www.autoblog.com/media/2006/12/the-governator—64_1280.jpg

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http://www.limitstogrowth.org/WEB-Graphics/CaliforniaPostcardGreetings.jpg

http://forcechange.com/wordpress/wp-content/uploads/2008/03/cfl-float.jpg

6 units - $998,000 - PRICES HAVE COME DOWN IN SANTA MONICA

Jodi Summers

Sotheby’s International Realty

310. 392.1211

jodi@jodisummers.com

6 units - $998,000 - PRICES HAVE COME DOWN IN SANTA MONICA

Actual Net Operating Income - $51,496.80

1835 20th St, Santa Monica, CA 90404

1835 20th St, Santa Monica, CA 90404

* Price: $998,000

* Property Type: Multifamily

* Price/Unit: $166,333.33

* No. Units: 6

* Building Size: 3,038 SF

* Year Built: 1960

* No. Stories: 2

* Lot Size: 5,676 SF

* Parking Ratio: 1 / 1,000 SF

* Cap Rate: 5.16%

* Gross Rent Multiplier: 12.83

* Actual Net Operating Income $51,496.80

Highlights

* Rare Santa Monica Investment Opportunity

* 2 Blocks from Santa Monica College

* 6 Parking Spaces

* Easy Management in a Traditionally Strong Rental Demand Area

* Over 20% Upside in Rents

* Perfect for Owner/User or Investor

Description

If you’re looking for location and future cash flow, take a look at PRICED TO SELL! ALL CASH OFFERS PREFERRED! four (4) two bedroom + one bathroom unit & two (2) single units conveniently located near Santa Monica College.

Unit Mix

Description No. Units Avg. Mo. Rent

2 bed + 1 bath 4 $1,195

Studio 2 $ 850

Location

Close to Santa Monica College @ 20th + Delaware

Is this the kind of property you’re looking for?

Do let us know how we can move forward together in meeting your real estate goals 310.392.1211 or jodi@jodisummers.com.

It’s my hope, that over the course of the year, you would be comfortable referring one person to me. I’m building a referral-based business and your recommendation will make the world a better place.

Best….

Jodi Summers

The SoCal Investment Real Estate Group

Sotheby’s International Realty

310. 392.1211

jodi@jodisummers.com

www.SantaMonicaPropertyBlog.com

www.SoCalMultiUnitRealEstateBlog.com

LICENSE # - 01343854

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It isn’t what you have, or who you are, or where you are, or what you are doing that makes you happy or unhappy. It is what you think about. - Dale Carnegie

p.s. This is not intended as a solicitation if your property is already listed with another agent.

LOS ANGELES MULTIUNIT PROPERTY SNAPSHOT – JANUARY 2010

LOS ANGELES MULTIUNIT PROPERTY SNAPSHOT – JANUARY 2010

By Jodi Summers

The residential real estate market bottomed out in 2009, and the pundits at the Urban Land Institute feel that 2010 is the year “commercial real estate is going to hit to bottom as well,” notes ULI researcher Charles DiRocco.

It has been reported that commercial real estate value declines will average more than 40 percent below previous highs of mid-2007. Savvy investors are realizing that the apartment building market has hit bottom. Locally, in Los Angeles county, from December 2007 – December 2009 the median price of for multiunit properties for sale properties is down 13% and the median price of sold properties is down 70%. On the upside, the number of sold properties is up 78%, which should keep multiunits away from the wave of property falling back into their possession.

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http://saratogavoice.com/wordpress/2009/10/20/california-real-estate-forecast-for-2010/

http://nyrej.com/37067

http://www.realtor.org/research/economists_outlook/commentaries/forecast1209

http://pittsburgh.bizjournals.com/pittsburgh/stories/2009/12/07/daily30.html