Click the title for the full message. The Federal Reserve took an unexpected stance by stating that they do not expect to raise rates until at least 2014, far later than previous projections had estimated. In fact, according to RBC Wealth Management’s weekly insight, there was a report released later in the day that showed [...]

Click the title for the full message.   Today I attended a “Lunch and Learn” hosted by Jim and Bonnie Bell of Bell Investment Advisors in Oakland. The presentation was packed full of supporting reasons for the idea that our economy of yesteryear has passed and will not return for some time. Marivic Hammond of [...]

Click the county name to view sold properties in reverse chronological order: Contra Costa Alameda

The following information is derived from Title Company records Property City Closed  Price # Units  Price/Unit 2011 927 Fitzuren Rd Antioch 07/08/2011  $  1,109,000 16  $    69,313 100 Village Dr Brentwood 06/15/2011  $  4,160,000 52  $    80,000 1620 Adelaide St Concord 04/13/2011  $  2,570,000 33  $    77,879 3142 Grant St Concord 04/21/2011  $     475,000 15 [...]

The following information is derived from Title Company records Property City Closed  Price # Units  $/Unit 2011 431 Pacific Ave Alameda 02/28/2011  $  1,000,000 26  $    38,462 2149 Santa Clara Ave Alameda 03/31/2011  $  1,247,500 12  $  103,958 1915 Lincoln Ave Alameda 05/13/2011  $  1,150,000 9  $  127,778 930 Pacific Ave Alameda 09/23/2011  $     665,500 [...]

Click the title for the full message. The following is a report shared to all members of the California Apartment Association. It was written by Joe Lawton of Castle Management and reflects the sentiment of the apartment industry. The apartment business has not seen a great deal of good news since 2008. However, apartment rents [...]

Click the title for the full message.   Industry experts admit transaction volume is slowing in the south bay. Forecast is for the slow pace of properties changing hands to continue for at least the next two years. Inventory is low and what is on the market is recycled over and over and of little [...]

  2011 has proven to be a strong market for apartment rental owners,  especially in the shadows of a renters market that stems from a large number of foreclosed homes.  A recent article by the San Francisco Business Times is worth reviewing… California pulls out of national foreclosure talks San Francisco Business Times Date: Monday, [...]

  Click the title for the full message. Due to inconsistent installation requirements mandated by local governments and a multitude of questions raised by property owners concerning California’s new carbon monoxide alarm law, the state Housing and Community Development Department has issued emergency regulations to bring clarify to the law.   There are a number [...]

Click on the title to view. As of July 1, 2011, the Carbon Monoxide Poisoning Prevention Act (Senate Bill – SB 183) will require all single-family homes with an attached garage or a fossil fuel source to install carbon monoxide alarms within the home by July 1, 2011. Owners of multi-family leased or rental dwellings, [...]

Click the title for the full message. The federal Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires users of consumer reports, beginning on July 21, 2011, to also provide credit scores to applicants if the score was used in taking adverse action. Currently the Fair Credit Reporting Act requires that an adverse [...]

Click the title for the full message.   While the national news points to more jobless claims, the south bay is experiencing job growth and more importantly for apartment owners Rent Growth and vacancy decreases!   According to the speaker Michael Pierce, President of Prodesse Property Group, the south bay is experiencing a perfect storm [...]

By VAUHINI VARA And REBECCA SMITH California Gov. Jerry Brown signed legislation Tuesday requiring the state to obtain a third of its electricity from renewable sources such as wind, solar and geothermal power by 2020, among the most ambitious such laws in the nation. Mr. Brown, a Democrat, said the measure would stimulate clean-technology investment, [...]

Each month during the Northern California CCIM meeting, I present market activity to the membership. I thought you might find the following information interesting: http://www.consultpete.com/wp-content/uploads/sold-reports-feb11-template.pdf It appears that every property type in San Francisco had more interest than all the other Bay Area counties. Please shoot me an email Pete@CommercialMasterMinds.com as you are able, I [...]

Click the title for the full message. Happy Holidays! Brian Pretti spoke to the Investment Marketing Forum this past week at the Orinda Country Club. His presentation was titled “The Tale of Two Economies” and I thought the following notes are worth sharing: This is a balance sheet recession, which is significantly than an oversupply [...]

Click the title for the full message. My business partner, Luis Garcia shared some interesting notes from the San Jose Apartment Brokers meeting today. Luis writes: According to the more senior brokers, Buyers are very hesitant to step in, unless they’re getting a very good deal. Sellers are selling, BUT only if they have to [...]

I would recommend Pete to my clients in a heartbeat. He takes the time to understand their needs and goals prior to recommending a solution. His attention to detail and knowledge of the marketplace makes him the Broker that I personally would hire to represent me. Tillie Ross, Commercial Accounts, Old Republic Title Company

Click the title for the full message. It’s been a while since my last blog- namely because of all the bad news. There was a glimpse of positive news by the media; however, I knew it was short lived. This article as written by Jon Prior http://www.housingwire.com/2010/09/07/cmbs-delinquencies-accelerate-toward-9-in-august-trepp points out the rate of delinquencies and emphasizes [...]

Click the title for the full message. A recent article in the National Real Estate Investor I thought worth sharing. Highlights include: Delinquency rate for Commercial mortgage backed securities reached a record high in August Multifamily defaults hit 14.53% Hotel defaults hit 18.92% Paul Mancuso, VP with Trepp, indicated there is more to follow. Class [...]

You should write a book!  You have a lot of credibility and you know I have a lot of commercial brokers at my fingertips, but I wouldn’t think of going to anyone but you Pete!  I feel this way because I think you would advise your client in a way that they would make the [...]