The Ribbon Cutting and Grand Opening for Viejas Hotel at Viejas Casino & Resort, which will be San Diego County’s newest luxury hotel on March 21, at 6pm. All are invited including the public to this event that will also provide a glimpse of the world premiere of Rise, which is a dramatic Cirque-style performance that will be followed by pyrotechnics. After all the performances, the public tours will begin of the various levels of suites that will be available at the resort.
The location of the Viejas Hotel at Viejas Casino & Resort is 5000 Willows Rd., Alpine, CA 91901 around 30 miles east of San Diego, I-8 at Willows Rd.
The Viejas Hotel at Viejas Casino & Resort boasts five stories, which cost $36 million Viejas Hotel to complete.
The event will also include traditional Kumeyaay Bird Songs, a Native American Blessing Ceremony. There will be a poolside reception for all attending.
The Viejas Hotel at Viejas Casino & Resort features 128 rooms including 99 deluxe rooms and 29 luxurious suites, an expansive patio area, hot tub, pool, business center, cabanas, fitness room, and limited room service.
If you are looking for commercial property or your new dream home in the San Diego area, now is the time to purchase while home prices and interest rates are still low. Contact a real estate agent today at 888-865-5055.
In San Diego County, there is a lack of available land according to professional during a real estate meeting, which is changing the forms of commercial development.
Gary London, a speaker at the London Group meeting at the Hilton Garden Inn in the Carmel Valley area and president of the London Group Realty Advisers stated, "The Otay Ranch projects are the last of a breed of master-planned communities. The only way we’re going to be able to accommodate the people coming (mostly births over deaths) is to build up rather than out."
A London Group principal, Alan Nevin explained that even at Otay Ranch, "no new large lot releases will happen prior to 2015."
Larry Clemens that developed the Avaiara property in Carlsbad added, "Where there is land, in the East County, for example, the predominant owner is the federal government." Clemens went on to explain that the long processing time is also an issue. In addition, when the Academy of Our Lady of Peace school planned to build a parking garage along with science buildings it to an entire 8 years to get entitled. "The new NIMBY [not in my backyard] doesn’t want any development," Clemens said.
London stated that when you take the large land tracts out of the picture, brown fields that have major toxics problems along with old shopping centers that are worn are getting a once over for new projects.
"Millennials [people born between 1980 and 2000] are going to continue to demand apartments," London stated. "Most of us aren’t going to be building single-family, and the price of housing is going to be significantly bid up."
Nevin also commented on the changing demographics in San Diego that is always mixing it up. He stated, "Two thirds of all housing units have no one living in them who is under 18, and only one in seven households consist of a mom and dad and two kids. The ‘Leave it to Beaver’ years are over." He went on to say that 25% are living alone.
"The apartments are basically full," Nevin stated.
When he looked at the office market, he explained that while Class A vacancies are now in the single digits in a few submarkets, the Class B and C are completely different.
"Of the 120 million square feet of office space in this county, 80 million of it is in B and C space that has higher vacancies," London stated. "I don’t think we’re going to need to build any more office space."
He went on to say that most businesses are not using file cabinets which means office space can be less, therefore the demand for office space will also decrease. On the other hand, he explained that The Irvine Company might choose to develop a 700,000 square foot office tower at West Broadway and Pacific Highway close to the bayfront in downtown San Diego that has been lying on the shelf.
Robert Rauch, the developer for the Hilton Garden Inn, stated the county has around 58,000 hotel rooms, but will see another 600 added this year.
Rauch also stated that occupancies, even at their worst, still averaged about 60%, before returning to the over 70% ranges within the past year.
He said he is concerned that if a deal is not worked out between the White House and Congress over sequestration, recreational travel and business may stop spending.
For now, he seemed cautiously optimistic. "I think we are probably in the fourth or fifth inning of the recovery," Rauch stated.
Another London Group principal specializing in retail, Bill Speer said that the sector has recovered faster than many would have expected.
He explained that around 50 million square feet of retail space is under construction at this time in sixty projects across the United States. He went on to explain that locally, there was expansion and ongoing development at many of the seven Westfield malls which is a good sign of retails resilience.
"You’ve seen the UTC expansion. Now, $200 million to $300 million worth of redevelopment is planned at Horton Plaza and another $200 million to $300 million is also planned at Plaza Camino Real in Carlsbad," Speer stated.
If you are in search of the perfect location for your new business in San Diego or your new dream home in one of the communities surrounding San Diego, contact a San Diego real estate agent today at 888-865-5055.
In the San Diego area, as reported by a real estate agent, it is becoming more and more difficult for home buyers due to the amount of cash buyers on the market. There are a few ways you can get your offer seen and even chosen by home sellers.
Some homebuyers have noticed when they put an offer on a home in the San Diego area, there are in some cases between and 40 other offers. It can be difficult to have your offer even seen if you do not know how to get it in front of the homebuyers eyes.
What you should do:
1. Hire a professional real estate agent
The main reason to hire an expert is that they have been in the business and know what home buyers are looking for in the way of offers. Along with this, they can also help you with creating your offer.
2. Cover Letter
With your offer, always include a direct cover letter. Of course, your real estate agent will be able to help you create a dramatic cover letter that will catch the eyes of the home seller. You have to make a connection with the home seller and one that will hopefully, give you an emotional edge.
3. Things to add to the Offer
If you can add a video, this will help the home owner put a face with the offer, which is a great edge.
You should also include things like your pre-approval letter as well as information ensuring you will be able to close on time. The home buyer needs to feel as comfortable as possible with you as a person instead of an impersonal letter that makes them feel like they are talking with a robot or a company.
4. Grab attention
Just as with a resume and cover letter for employment, you are going to have to grab the home seller’s attention and get yourself noticed among the other offers.
If you are looking for help finding your dream home or making offers, contact a professional Realtor today at 888-865-5055.
If you are looking for a luxury home in California, you may find it unbelievable that prices in the San Diego area are less than what you will find in Los Angeles or San Francisco and prices have even dropped lower recently.
In 2012, the price of luxury homes in the San Diego area dropped by 1.4% even though there were gains in Los Angeles and San Francisco Bay area as reported by a survey published by First Republic Bank.
In San Diego, the median price of $1.64 million was the figure seen for luxury homes according to the report, First Republic’s Prestige Home Index. The bank noted that comments from real estate agents in the area said that during the holidays a slow down occurred in the San Diego market but that at the beginning of the year interest picked back up.
The real estate market in San Diego includes Solana Beach, Rancho Santa Fe, San Diego, La Jolla, Encinitas, La Mesa, Carlsbad, Coronado, Poway, and Del Mar.
When the San Diego real estate market is compared to homes in San Francisco, luxury homes increased 8.4% to $2.73 million and a 4.4% rise to $2.06 million in Los Angeles.
Katherine August-deWilde, the bank’s president and CEO stated, "Growing demand from buyers, low mortgage rates and a lack of inventory continued to put upward pressure on values. Multiple offers are common in many high-end neighborhoods as buyers compete for a small number of attractive properties."
The largest increases in Los Angeles and San Francisco were mainly due to the low inventory in the area.
According to the report, luxury homes are those that have a value of least $1 million featuring 3,000 to 6,000 square feet with 3 to 6 bedrooms and 3 to 6 bathrooms.
If you are looking for a luxury home in the San Diego area, now is a great time to buy before prices go up like other areas in California, contact a professional Realtor today at 888-865-5055
The city of San Diego honored the New Children’s Museum, theme parks, and several hotels as "Recyclers of the Year" during a ceremony at the San Diego Zoo.
The New Children’s Museum was given the title of 2011 "Recycling Partner of the Year" for bringing attentiveness to the importance of waste reduction. An exhibit at the museum at this time shows the impact that litter has on our environment.
"Recycler of the Year" honorees in the hotel sector include the Hilton San Diego Bayfront (reduced the use of water bottles and other disposable containers at the hotel), the Grand Del Mar (sends 12-16 tons of food waste to the Miramar Landfill recycling center every month), and the Sheraton San Diego Hotel and Marina (turns more than 250 tons of organic waste into compost used on the property every year), as reported by the Environmental Services Department.
SeaWorld San Diego Honored
In addition, SeaWorld San Diego was honored for stopping the use of plastic bags in shops and reusing packaging materials, along with San Diego Zoo Global being rewarded for turning food waste into compost at the Safari Park.
The ESD works with businesses to help keep the amount of trash low that is being sent to the Miramar Landfill. The city believes the landfill will be at capacity in around ten years.
Mayor Jerry Sanders stated, "While it’s our job to keep the Miramar Landfill open for as long as we can and to protect the environment, we know we can’t do it alone," and went on to say, "Businesses and organizations like those showcased in this program have played an exemplary role in achieving the city’s waste reduction goals."
The Padres, Qualcomm, Navy Region Southwest, Presido Place condominiums, the San Diego County Regional Airport Authority, Point Loma Nazarene University, Albertsons, General Dynamics NASSCO, and the San Diego Convention Center Corp. were also among the honorees.
This is just one small way the city of San Diego works with the community to provide a better living environment for residents. For those looking to call San Diego home or other areas around San Diego, contact one of our professional San Diego real estate Agents today at (888) 865-5055.
The Urban Land Institute recently reported that San Diego was ranked in 10th place on their list of real estate markets to watch.
On Urban Land’s Institute 32nd yearly Emerging Trends report, which is based on interviews taking with industry experts, the company stated that coastal markets will do better than other areas of the United States, which includes the San Diego area.
On the other hand, during the convention held in Washington along with those on the internet, experts stated that no market is doing well at this time.
Jonathan Miller the author of the report stated, "We’ve been living large in a time of more," and went on to say, "In the end it all resulted in a lot of losses and some major flops. As predicted last year, 2010 would be the bottom for the commercial real estate market. In fact, we think that’s happened. Next year is, after a period of more-more-more, we’re entering this period of less — the ‘Era of Less.’"
The ranking system used a scale from 1 to 9 with 1 being "abysmal" and 9 being "excellent." San Diego ranked 5.63 and last years report had San Diego with a ranking of 5.04.
The state of Washington was ranked in 1st place, however, the investment score was only at 7.01.
Stephen Blank, Urban Land Institute main researcher and adviser of the study stated, "The transition from more to less will be difficult and it will involve getting used to a smaller real estate industry," and went on to say, "Harsh realities aside, real estate is coming off the bottom with improved prospects across all markets."
The rankings of top ten markets included:
- San Diego – 5.63
- Los Angeles – 5.84
- Houston – 6.02
- San Jose – 6.08
- Seattle – 6.09
- Boston – 6.20
- Austin – 6.29
- San Francisco – 6.34
- New York – 6.56
- Washington – 7.01
The rankings are based on viewpoint for multifamily and commercial investment.
The overall evaluation for San Diego
"San Diego’s story largely copies that of Los Angeles. These two markets, not surprisingly, can track closely together. But San Diego does not rate LA’s gateway status, lacking a major port or international airport hub like LAX."
"’Traditionally, the local economy creates startup jobs, but doesn’t retain headquarters. When companies get large, they leave,’ [stated an interviewee]. For global and domestic business, the city sits just outside primary jet ways, making travel a pain."
"As is the case everywhere else in Southern California, housing prices have dropped from stratospheric levels, savaging mortgage holders. In particular, downtown condos are badly oversupplied. Demand builds back for housing in better neighborhood: more buyers with cash want to take advantage of market bottom near Pacific coastlines."
"What’s not to like about arguably the country’s most desirable climate? Public-company homebuilders buy relatively cheap residential land to prepare for an eventual upturn. On the wobbly retail front, put a hold on any more lifestyle centers."
If you want more market information contact the San Diego Homes Experts Toll Free at (888) 865-5055 today!