Bill Gates Busy During Quarantine – Buys Oceanfront Del Mar Estate for $43 Million

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The beachside patio at Bill Gates' new Del Mar compound
The beachside patio at Bill Gates’ new Del Mar compound

Besides being interviewed on every mainstream propaganda television show about his plan for world domination through mandatory global vaccinations (most likely to come from one or more of the 7 different Gates funded labs), Bill Gates has not let the quarantine for the less than Billionaire set, slow him down. According to a story at Local Business Scoop, Bill Gates has purchased a $43 Million Dollar Beachfront Compound in Del Mar.

Rents Already Dropping Like a Rock, Home Values to Follow

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According to an article posted the other day on the Los Angeles Fox 11 newsite at FoxLA.com, rents are already dropping in the Los Angeles region due to the effects of the Corona Virus or Covid-19. Over two weeks ago, shortly after the first stay at home order, I predicted that both rents and property values would be dropping very quickly.

The last line in their article is extremely telling:

“But for now, if your rent is not going down, you may want to talk to your landlord or look around for a better deal, because you may get it.”

Over 10 days ago, I wrote my first email asking a landlord for either a suspension of rent or a reduced rate. They came back with a “COVID-19 Hardship Consideration” form, which was obviously drawn up by the attorneys for the Southern California Rental Housing Association (and revised or drawn up, the same day 3/31/20).

This Covid-19 Hardship Consideration form, makes zero concessions except for considering to provide ‘accommodations’ for reduced rent until the eviction moratorium is lifted at which time the full amount of the rent would be due or the tenant would face eviction. They fail to recognize that due to the Stay at Home Order, many people have lost their entire incomes and in many cases, their jobs.

What landlords need to realize is that their properties are not worth the rental income they were getting even one month ago …

They are going to be finding very quickly that they will not be able to continue to charge rents like they were in 2019 and beyond. Rents will be dropping FAST and landlords should be contacting their lending institutions to get their payments deferred or contracts renegotiated. Some may choose to walk away. Many will be hearing from their tenants who will be choosing to do the same.

If you are a tenant or a landlord who needs help negotiating and coming up with creative, mutually beneficial ways to get through this crisis and stay in your home, please give me a call. I can – and want to, help.

Kilroy Realty Corporation Wins 2020 ENERGY STAR Partner of the Year Sustained Excellence Award

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Kilroy Realty logo Local Business Scoop

Kilroy Realty Corporation announced today that the U.S. Environmental Protection Agency (EPA) has for the seventh year in a row recognized KRC as an ENERGY STAR Partner of the Year. In addition, the EPA has also recognized KRC for the fifth time with its Sustained Excellence designation.

EPA’s annual ENERGY STAR Awards honor organizations that have made outstanding contributions to protecting the environment through superior energy efficiency. Since 1992, ENERGY STAR and its partners have saved over four trillion kWh of electricity, while achieving broad emission reductions, and in 2018 alone helped Americans avoid over $3.5 billion in energy costs.

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Houston’s Aliana Master-Planned Community Ranked Top 30 in US Sales

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Aliana Master Planned Community in Richmond Texas west Houston via AAA Properties
Aliana Master Planned Community in Richmond, Texas – West of Houston

Aliana, a 2,000-acre master-planned community located in Richmond, TX announced today it has been ranked in the Top 30 in sales nationally for master-planned communities (MPCs) by real estate consulting firms RCLCo and John Burns. Aliana sold 430 new homes in 2018, ranking it fifth in the state in new home sales.

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Who Bought the Grand Hotel in Minneapolis for $30 Million? Did They Get a Deal?

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Grand Hotel in Minneapolis Sold by Pebblebrook Hotel Trust at a Loss

Who Bought the Grand Hotel Minneapolis?

Yesterday I received the following press release entitled “Pebblebrook Hotel Trust Completes Sale of the Grand Hotel Minneapolis”.  But curiously, the release does not mention who purchased the property – or what brokers were involved.  It’ also interesting that the hotel’s website appears to be offline …

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Berkshire Hathaway HomeServices Applauds Eight NAHREP Awarded Agents

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Berkshire Hathaway HomeServices, part of the HSF Affiliates LLC family of real estate brokerage franchise networks, congratulated eight network sales professionals for ranking among the top 250 Latino agents by number of transactions in the U.S., as tracked by the National Association of Hispanic Real Estate Professionals® (NAHREP®).

Berkshire Hathaway HomeServices Applauds Eight NAHREP Awarded AgentsBerkshire

Honorees include Rebecca Hidalgo Rains of Berkshire Hathaway HomeServices Arizona Properties in Chandler, AZ, No. 12 on the list; Richard Rodriguez, Berkshire Hathaway HomeServices Georgia Properties, Hoschton, GA, No. 35; Diana Sifuentes, Berkshire Hathaway HomeServices A Action, REALTORS®, Mesquite, TX, No. 67; Sonia Arias, Berkshire Hathaway HomeServices California Properties, Victorville, CA, No. 103; Gustavo Cardenas, Berkshire Hathaway HomeServices California Properties, Rolling Hills Estates, CA, No. 174; Francis Hiraldo, Berkshire Hathaway HomeServices Gammons Realty, East Greenwich, RI, No. 203; Martha Lebron-Dykeman, Berkshire Hathaway HomeServices First Realty, West Des Moines, IA, No. 213; and Veronica Faz, Berkshire Hathaway HomeServices Premier, REALTORS®, Roanoke, VA, No. 242.

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HFF Announces Sale of Willow Creek Corporate Center

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HFF announces the sale of Willow Creek Corporate Center, a seven-building, Class A office park in the thriving tech submarket of Redmond, Washington.

HFFHFF Announces Sale of Willow Creek Corporate Center

The HFF team represented the seller, and procured the buyer, Preylock Real Estate Holdings.
Willow Creek Corporate Center comprises 421,785 square feet spread across seven fully leased buildings. The campus is located in the supply constrained North Redmond submarket of Seattle, just minutes from Microsoft’s world headquarters.
The HFF investment advisory team representing the seller included Michael Leggett, Dave Otis Logan Greer and Kevin Freels.
About Preylock Real Estate Holdings
Preylock Real Estate Holdings are owners, operators and developers of commercial and residential real estate primarily located on the West Coast. They utilize a relative value approach to real estate investing, identifying unique investment opportunities in highly targeted, supply constrained markets. Generally, they seek to acquire assets that trade at a discount to replacement cost and/or comparable assets in neighboring sub-markets. The company is currently focused on the acquisition of value-add and core plus office buildings in major West Coast sub-markets. Preylock’s sponsors have a combined 26 years of commercial real estate investment experience, including experience with institutional real estate investment partners. To date, Preylock has acquired assets totaling approximately two million square feet, investing approximately $700 million. About HFF
HFF and its affiliates operate out of 26 offices and are a provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

Here’s How You Can Create the Perfect Office Space

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Bellevue Office SpaceFinding the perfect office space is one thing. Turning it into the ideal workable space is a whole other task. The layout and design of the area are what can genuinely attract an employee not just to come and work for you, but to enjoying working there.
Walking into an office that is dark, crammed with nothing appealing around, it will be hard to keep employees happy. However, an office that is open, bright, has lots of windows and features to it, you’ll notice your staff might actually enjoy walking into work.
Since designing the perfect office space can be tricky, here are a few points to help you out. Read More

We Buy Fugly Houses Seeks Distressed Properties in San Diego County

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We Buy Fugly Houses buys distressed properties all over San Diego County!

We Buy Fugly Houses are actively We Buy Fugly Houses San Diegolooking for homes that need to be repaired, remodeled, finished, completed.  San Diego houses, condos, apartments, duplexes, tri-plexes, multiple units and more.

We Buy Fugly Houses specializes in San Diego investment properties where we can add immediate value with additional capital, sweat equity, quality low cost contractors and bulk materials purchasing.  We help home sellers get out of bad situations with fast, fair cash offers – and we help beautify neighborhoods around San Diego by fixing and rehabbing distressed properties and making them beautiful and updated.

We Buy Fugly Houses has money to invest – to get a fast, all-cash offer on your San Diego property call Joe today:  We Buy Fugly Houses 858.262.0944.

Is The San Diego Real Estate Bubble About to Burst?

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San Diego Real Estate BubbleIt seems that there are A LOT of people in the San Diego real estate industry who are worried about the San Diego real estate market.  Could it be that the San Diego real estate bubble is about to burst – AGAIN?  We just don’t know – do we?

KB Home Sets Record with 21 Energy Star Market Leader Awards

Anyone who has been through a real estate cycle knows that what goes up, must come down and there are a number of factors that affect a local real estate market.  Jobs, the economy, public perception, affordability (or lack thereof), interest rates / cost of money are all factors in the strength and health of San Diego real estate.  The political unrest in our country is beyond unsettling.  There are even leftist groups calling for anarchy here in our own country.  Qualcomm is still the largest employer in San Diego outside of the military and they are currently going through a big shakeup after President Trump quashed Broadcomm’s hostile takeover bid.  Read More

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