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Zillow data shows millennials don’t buy houses

Posted by on 3:20 pm in Arizona News | Comments Off

Online real estate company Zillow released data on Friday that showed the age of a typical first-time home buyer is on the rise and is expected to continue to go up in the coming years. In 2013, the typical first-time home buyer was 31 years old. The majority of respondents to Zillow's survey of Realtors in the National Association of Realtors expected that age to go up to 32 or 33 in the next decade. “Because of its huge size and great diversity of housing preferences and opinions, the...

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Google wasn’t done! Search giant buys again in Mountain View

Posted by on 2:59 pm in Arizona News | Comments Off

Google's real estate department is not taking any time off. Just a couple days after picking up a big portfolio in Mountain View, Google ended the week with another addition to its stable, buying a 40,000-square-foot industrial building near the intersection of N. Shoreline Blvd. and Highway 101 in Mountain View. I wasn't able to turn up the price for the building at 960 Linda Vista Ave, which sits on about 2.5 acres. But county tax records peg the assessed value at $1.6 million. Given the...

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Inside Powell’s Books new Burnside front room (Photos)

Posted by on 2:55 pm in Arizona News | Comments Off

It took six months, but the new-look front entrance at Powell's City of Books is again welcoming visitors. And, yes, it looks pretty good. The new space is airer, sleeker and, in several ways, more modern than the front entrance (that's the side facing West Burnside Street, with the marquee) was before. Skylights on the ceiling make the room, which serves as a staging area for tourists visiting the mammoth bookseller, seem massive. The aisles are better organized so those tourists don't bump...

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Kilroy has full-project deal shaking at Crossing/900 in Redwood City

Posted by on 2:51 pm in Arizona News | Comments Off

Crossing/900 — the 300,000-square-foot spec project under construction in downtown Redwood City — may be close to signing a tenant. A big one. But who? Kilroy Realty CEO John Kilroy said on the REIT's second-quarter earnings call this week that a deal was nearing for the entirety of the two-building development, the largest commercial project ever in the city's downtown. "At our Crossing/900 development in the Redwood City, we have a full-project (letter of intent) that would result in a...

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Toll Bros. flips Milpitas homebuilding site to K. Hovnanian, scoring 25 percent return

Posted by on 2:37 pm in Arizona News | Comments Off

It's not just individual investors who are flipping homes these days. Publicly traded homebuilders are getting into the act too. Case in point: Less than a year after picking up a fully entitled development site in Milpitas, Tolls Brothers has sold the property to K. Hovnanian for a tidy profit. K. Hovnanian paid $57.5 million for the 12.5-acre site, a price that equates to about $4.6 million an acre or roughly $280,000 per buildable unit. That is a 25 percent premium over the roughly $46...

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‘Unprecedented’ Metro cuts coming: Is your route on the list?

Posted by on 2:36 pm in Arizona News | Comments Off

Some King County Metro bus riders will lose their routes next month, and passengers system-wide will pay higher fares next spring as the agency institutes painful changes to deal with a revenue shortfall. On Sept. 27, Metro is axing 28 routes and revising service on another 13. More cuts are scheduled for 2015. And in March, fares will increase for the fifth time in eight years with additional hikes on the horizon. In a news release Thursday, Metro said there are ongoing discussions about...

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Tampa Bay real estate falls short of Millennial needs

Posted by on 1:57 pm in Arizona News | Comments Off

None of Tampa Bay's area counties were named on a list of most affordable places for Millennials to rent or buy, according to a new analysis by RealtyTrac. The markets that are most affordable while still being attractive to the Millennial generation is likely where the most housing growth will occur, RealtyTrac said. To be considered “affordable” RealtyTrac looked at the percentage of income spent on housing for both rental properties and purchasing homes. Richmond County in Georgia...

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Zillow data shows millennials don’t buy houses: Here’s why I never will

Posted by on 1:31 pm in Arizona News | Comments Off

Seattle online real estate company Zillow released data on Friday that showed the age of a typical first-time home buyer is on the rise and is expected to continue to go up in the coming years. In 2013, the typical first-time home buyer was 31 years old, according to the National Association of Realtors. The majority of respondents to Zillow's survey said they expected that age to go up to 32 or 33 in the next decade. “Because of its huge size and great diversity of housing preferences and...

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Omnitracs, Active Network to get $1.45M in city incentives for moving HQs to Dallas

Posted by on 1:24 pm in Arizona News | Comments Off

Two San Diego-based tech companies relocating their corporate headquarters to downtown Dallas are set to receive a combined $1.45 million in economic incentives from the city on top of a total $12.5 million already promised by the state. The companies, owned by the same private equity firm, will bring in a combined 1,450 jobs, for a subsidy of $9,620 per job. The Dallas Economic Development Committee will meet Monday to discuss financial incentives for fleet management software company...

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Southern California considers new ways to save water

Posted by on 1:18 pm in Arizona News | Comments Off

Water is pouring into news stories and the UCLA campus these days, but elsewhere, there has been something of a dearth, or a drought, let’s say. This week, Glendale became the latest city to enact an ordinance to fine water-wasters. According to the Glendale News-Press, violators of the city’s second phase of mandatory conservation rules will face fines ranging from $100 to $500, as per emergency regulations authorized by the State Water Resources Control Board last month. Steve Zurn,...

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