La Jolla Homes

I was speaking to a good friend who has been a real estate broker in San Diego for over two decades now the other day. He was noting that the condo market is still in the tank, especially in downtown San Diego, where many high-rise condo buildings have come on line.  He however is still optimistic about the high end marketplace and commercial real estate markets. He mentioned that the fellas at North Point Funding have been helping him secure some great private money loans on California commercial real estate in the past year. If you are unable to find conventional sources of funds, you may want to give North Point a call.

[tags]Funding, San Diego, Real Estate[/tags]

La Jolla / San Diego lifeguards will resume the search Tuesday morning for a swimmer that a witness said was struggling in the water off La Jolla Shores Monday night. The woman made a 911 call at 7:50 p.m. and said she saw a person battling a rip current off the north end of the beach near the Scripps Pier, said San Diego Lifeguard Capt. Rick Wurts. Divers scoured the area for more than an hour and a San Diego police helicopter searched from the air. “They made a very thorough search of the area where the person was believed to be missing but found nothing,” Wurts said. The woman said she was sure she saw a person in the surf although there were no other witnesses. A resident living nearby didn’t see or hear anything, Wurts said. A recovery effort will get under way at about 7 a.m. Wurts said that these types of incidents usually coincide with a missing persons report and that no one has been reported missing in the area.

La+Jolla, La+Jolla+Shores, Swimmer

BioMed REIT is going to be holding their earnings report call in a couple of weeks. BioMed has investments in properties in San Diego with the large presence of BioMedical companies in Sorrento Valley and elsewhere.

Alan D. Gold, President and Chief Executive Officer, and Kent Griffin, Chief Financial Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Thursday, May 4, 2006 to discuss the company’s financial results and operations for the quarter. The call will be open to all interested investors either through a live audio web cast at the Investor Relations section of the company’s web site at http://www.biomedrealty.com and http://www.earnings.com, or live by calling (800) 435-1398 (domestic) or (617) 614-4078 (international) with call ID number 27341746. The call will be archived for 30 days on both web sites. A telephone playback of the conference call will also be available from 1:00 p.m. Pacific Time on Thursday, May 4, 2006 through midnight Pacific Time on Tuesday, May 9, 2006 by calling (888) 286-8010 (domestic) or (617) 801-6888 (international) and using access code: 64984984. About BioMed Realty Trust BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on acquiring, developing, owning, leasing and managing laboratory and office space for the life science industry.

La+Jolla, California+Real+Estate, San+Diego+Real+Estate

One of San Diego’s own, is making headlines this week. An interesting profile of ex-Navy SEAL Brent Gleesen:

Brent Gleesen served four years as a Navy SEAL and participated in more than 100 combat missions in Iraq and Africa. After being honorably discharged, he went to graduate school at the University of San Diego, where he received a master’s in real estate. Gleesen, 29, met his business partner, 25-year-old Brandon Fishman, while in the master’s program and together they created NewCondosOnline.com. Their Web site is meant to be a convenient place for home buyers to find new condos as well as an advertising forum for developers. Just before graduating in June 2005, they launched their Web site and have since signed on nearly 300 projects nationwide, including about 80 projects in San Diego. When you came up with the idea to create NewCondosOnline.com, why only condos? There are some other real estate Web sites out there, but most of them focus on single-family homes and don’t really focus on attached housing. That’s where we saw the niche. Who are your competitors? The competitors really are these other real estate Web sites that focus on single-family homes, master plan communities. There’s nothing out there that really focuses just - more available

La+Jolla, California+Real+Estate, San+Diego+Real+Estate

We all know that La Jolla is one of the most beautiful places in California as well as the world. Here is the proof:

La+Jolla, Pictures, California

People are starting to talk about real estate bubbles and what not, now that we are seeing market softness in certain sectors as well as geographic locations in San Diego and elsewhere in California. But, as one expert points out, economic volatility due to exposure to real estate is much less than exposure to equities in the economy today.

“From this perspective, household exposure is still greater to equities than it is to real estate, and the volatility of equity asset values is far greater than that of real estate, so the performance of the economy and equities is likely to have more of an impact on people’s saving habits than that of real estate.”

La+Jolla, California+Real+Estate, San+Diego+Real+Estate

People are starting to talk about real estate bubbles and what not, now that we are seeing market softness in certain sectors as well as geographic locations in San Diego and elsewhere in California. But, as one expert points out, economic volatility due to exposure to real estate is much less than exposure to equities in the economy today.

“From this perspective, household exposure is still greater to equities than it is to real estate, and the volatility of equity asset values is far greater than that of real estate, so the performance of the economy and equities is likely to have more of an impact on people’s saving habits than that of real estate.”

La+Jolla, California+Real+Estate, San+Diego+Real+Estate

An interesing article today in the San Diego Union Tribune about long-term leases granted to local San Diego developers and businessmen whose terms are outdated. Of course, the city of San Diego generates millions of dollars each year from these leases, but it begs the question of wether or not privatizing and/or outsourcing of the leasing responsibilities would not generate a heck of a lot more money each year.

San Diego’s Real Estate Assets Department has a jumbled inventory of leases. It relies on paper files, hanging maps and old software to manage land deals. Behind the story The path to a lease Records of city leases in bits, pieces A variety of tenants Leasing is not a revenue tool for many cities When it comes to wheeling and dealing in real estate, San Diego is among the most deeply invested city governments in the country. It has signed more than 700 deals for properties from the shores of Mission Bay to the rolling hills of the San Pasqual Valley. And it’s not just taxpayers who have benefited from the bounty. During the past half-century, hoteliers, farmers and a slew of others have seen big returns from their leases of public property. Local politicians have benefited as well, pocketing hundreds of thousands of dollars in campaign contributions from leaseholders and their lobbyists. The city’s land deals generate tens of millions of dollars a year in revenue, but many deals expired long ago and continue on old terms. Others are locked in for years at low rates – or no rent at all. - more available

San+Diego, Real+Estate, Leasing, City+of+San+Diego

Thought I would post a couple of these pictures of La Jolla. They pretty much sum up what you feel like whe you are in La Jolla…at least that is what they make me feel like.

La+Jolla, California, San+Diego, Pictures

Looks like the Pacific has claimed another victim this year off the beaches of La Jolla. I am sorry for the family. But, there is probably not a better way to go, then diving off the shores of La Jolla, CA.

Authorities are working to determine what caused the death of a Pacific Beach man while he was free diving. Fifty-eight-year-old Stephen Nicely was with two friends about a mile offshore, near the Children’s Pool in La Jolla Sunday. Friends say they were testing out new spear fishing equipment when they noticed nicely had stopped breathing. Authorities hope to find out whether he got sick or if it was a diving-related accident.

La+Jolla, California, Diving, San+Diego