Welcome to the first rendition of weekly California real estate news! Let’s jump in and see what is going on in the news this week:
Industrial real estate demand in on the rise inland, according to recent assessment reports. The Press Enterprise quotes Cushman & Quakefield, “With year-to-date leasing activity totaling 30.6 million square feet, the Inland Empire is one of the hottest markets in the nation, according to the company’s third quarter Los Angeles Basin Industrial Market report.” Inland California has been seeing a lot of growth in the e-commerce sector which is pushing the industrial real estate demand right now.
Moving up north a little bit, California’s wine country can’t get enough modern farmhouses on the market. The Wall Street Journal reports, “A $3 million farmhouse (minus the farm) may sound outrageous, but people can’t build them fast enough, and prices for prime lots are soaring.” If that is your desired destination, now is the time to get after it.
One of the nation’s most expensive listings just hit the market in LA’s own Holmbly Hills, which continues an ongoing trend of big sales in the neighborhood. Forbes reports, “The home, which ranks among the priciest for sale in the United States, hits the market in the wake of several recent big-ticket sales in Los Angeles’ Holmby Hills neighborhood.”
And here we have our Curbed LA wrap up featuring our favorite articles of the week. Home sales in Los Angeles have dropped to a 4 year low point but prices continue to rise, Curbed reports. If you are familiar with the Fonda Theatre on the ever popular Hollywood Blvd., it looks like it will soon be surrounded by two new larger buildings. You can find more details here. Earlier in the week, Curbed released an excellent report on the shape of the future of American suburbs, titled The New American Suburb. And lastly, if you’re having a hard time finding the right white to paint with, here are a few ideas to help you navigate the vast complexities of using the simplest of colors.
Posted on 10/14/2016 at 09:30:00 AM