Daily Business Report — Jan. 19, 2011
December Home Sales in San Diego Move Up
A total of 3,191 home sales were recorded in San Diego County in December, an increase of 625 sales from November but a decline of 12.6 percent from the3,652 sales in December 2009, according to DataQuick Information Systems of San Diego. The median home price in December was $333,000, down from $335,000 in November and up slightly from the $330,000 median in December 2009.
Southland Report: Southland December home sales shot up more than usual from November but fell well short of last year as a sluggish job market, tight credit, and record-low new-home sales undermined the market. At the regional level the median sale price hovered barely above the year-ago mark, while it fell in four individual counties. Last month 19,528 new and resale houses and condos sold in San Diego, Los Angeles, Riverside, Ventura, San Bernardino and Orange counties. That was up 20.5 percent from 16,208 in November, but down 12.5 percent from 22,328 in December 2009, according to DataQuick.
The median price paid for a Southland home last month was $290,000, which includes all new and resale houses and condos. That was up 1.0 percent from $287,000 in November, and up 0.3 percent from $289,000 in December 2009.
At the county level last month, the overall median sale price fell on a year-over-year basis in Los Angeles (-2.7 percent), Orange (-5.7 percent), San Bernardino (-1.3 percent) and Ventura (-1.4 percent) counties, while San Diego and Riverside counties recorded small gains of 0.9 percent and 2.0 percent, respectively.
The typical monthly mortgage payment that Southland buyers committed themselves to paying was $1,205 last month, up from $1,136 in November but down from $1,231 in December 2009. Adjusted for inflation, current payments are 46.4 percent below typical payments in the spring of 1989, the peak of the prior real estate cycle. They are 56.1 percent below the current cycle’s peak in July 2007.
Gene Fuller Joins Voit Real Estate Services
Gene Fuller has joined Voit Real Estate Services as director of asset and property management for San Diego and the company’s other regions. Fuller previously was with GE Commercial Finance, a division of GE Real Estate’s West Region division. Earlier he was with Equitable Real Estate/Lend Lease and was senior vice president of investment management for Value Enhancement Fund LLC. Fuller received his bachelor’s degree from San Diego State University. He is a member of the National Association of Real Estate Managers, Institute of Real Estate Management and Building Owners & Managers Association.
S.D. Habitat for Humanity Establishes Endowment
San Diego Habitat for Humanity has established a $214,000 endowment with The San Diego Foundation. The nonprofit group said it was able to establish the endowment because of a donation of a house some years ago, which was then sold after it doubled in value. “We must attract donors who evaluate and support organizations with endowments, and made the decision to partner with The San Diego Foundation due to its fundamental commitment to improving quality of life for all San Diegans,” said Bradford Bates, president of San Diego Habitat for Humanity. “There’s a strong synergy between us.”
Society of Military Engineers Awards Program
The Society of American Military Engineers (SAME) San Diego Post announced a new awards program to recognize outstanding project contributions by its local members in supporting the mission of the United States armed forces. Titled “Projects of Excellence,” the awards will be presented by project size (small to large) in four categories: Buildings and Structures; Energy and Infrastructure; Environmental; and Architectural Engineering Planning Documents. Projects will be judged by an independent panel of experts to include top local architects, builders, designers, engineers, and public agency and DOD representatives. Award recipients will be recognized at a special SAME luncheon to be held April 13 at the Holiday Inn, 1355 North Harbor Drive, San Diego. Entries must be submitted by Feb. 23 For more information, visit samesandiego.org/awards or call Diane Elias, RBF Consulting, at (858) 614-5025.
BBB Seeks Student Ambassadors
The San Diego Better Business Bureau invites high school juniors and seniors to participate in its sixth annual Student Ambassador program, a volunteer speakers bureau where students deliver speeches to their peers on how to be smarter consumers and protect themselves from scams and fraud. Students who deliver the most speeches between March and May will be eligible to receive cash scholarships from Union Bank, the founding and 2011 presenting sponsor of the program. The Student Ambassador program is open to any junior or senior who attends an accredited high school in San Diego or Imperial counties. Applications are available at bbb.org. The deadline is Feb. 4. For more, call Mona Terry, BBB director of operations, at (858) 637-6199, Ext. 327. Students will be trained on Feb. 12 at the BBB offices on a BBB-scripted speech, which includes information on such topics as spending with a credit card, budgeting, using a cell phone wisely and identity theft.
Small Business Workshops
SCORE San Diego has scheduled January workshops to help small business owners and those interested in starting a small business. Fees range from $29 to $109. For more information, call (619) 557-7272. To register for a workshop online, visit scoresandiego.org.
• Jan. 20 – Internet Marketing 101: Use the Internet to Successfully Marketing Your Business – 9 a.m. to 3 p.m. at National University – Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $69, $79 at the door).
• Jan. 21 – Women’s Networking Breakfast – 8 to 11 a.m. at Morgan Run Resort & Club (5690 Cancha de Golf, Rancho Santa Fe 92091; pre-paid registration $30 by Jan. 18, $40 thereafter).
• Jan. 21 – Business Basics 101 – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; no charge – please pre-register).
• Jan. 24 – Professional Selling: Increase Your Business Sales Now! – 9 a.m. to 4 p.m. at National University – Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $69, $79 at the door).
• Jan. 24 – Insurance: What You Need to Know – 9 a.m. to noon at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $49, $59 at the door).
• Jan. 25 – Introduction to Starting Your Own Business – 9 a.m. to 4:15 p.m. at National University – Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $69, $79 at the door).
• Jan. 26 – Business Plan 201: How to Write a Winning Business Plan – 9 a.m. to 3:30 p.m. at National University – Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $99, $109 at the door).
• Jan. 26 – Good Governance for Nonprofits: Effective Board Performance – 9 to 11:30 a.m. at The San Diego Foundation – Liberty Station (2508 Historic Decatur Road, #200, San Diego 92106; pre-paid registration $39, $49 at the door).
• Jan. 27 – Internet Marketing 302: Develop a Winning E-mail Marketing Success Strategy – 9 a.m. to noon at National University – Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $49, $59 at the door).
• Jan. 27 – Financial Statements: What They Mean, How to Use Them – 9:30 to 11:30 a.m. at National University – Carlsbad (705 Palomar Airport Road, Carlsbad 92011; pre-paid registration $29, $39 at the door).
• Jan. 28 – Marketing and Contracting with State and Local Governments – 9 a.m. to 3 p.m. at National University – Kearny Mesa (9388 Lightwave Ave., San Diego 92123; pre-paid registration $69, $79 at the door).
• Jan. 31 – Intellectual Property: Promise and Practicalities – 9:30 to 11:30 a.m. at SCORE Entrepreneur Center (550 West C St., #550, San Diego 92101; pre-paid registration $29, $39 at the door).
The Daily Business Report is produced by REP Publishing Inc., publisher of SD METRO, the North Park News, Kensington News and the West Coast Craftsman. (619) 906-4104.