HCD Web News is an electronic clipping service which features stories related to California and national housing and community development related issues. HCD staff compiles current news sources on Monday, Wednesday, and Friday.
March 8, 2013
By Marijke Rowland // The first wait list has been set and leasing should begin shortly for the new affordable housing complex Avena Bella in Turlock as construction continues on a similar complex in Modesto. Since its leasing office opened in October, developer EAH Housing’s 80-unit Turlock project has had more than 650 people sign the interest list for apartments. A lottery was held Thursday to create the wait list as the leasing process moves forward.
By Natalie Burg [3/6/13] // In the early 2000s, the city of Santa Cruz, California had a problem. The naturally beautiful, progressive city, home of a premier research university, had become such a desirable place to live that housing prices skyrocketed beyond the reach of many… What a study identified was that though ADUs were legal in Santa Cruz, they weren’t necessarily easy to develop for homeowners – legally, anyway.
By Carrie Rossenfeld // LOS ANGELES — For 17 days this month, homebuilders will be offering substantial savings and special opportunities on new homes in L.A. and Ventura counties. Through the Building Industry Association of South California’ Los Angeles/Ventura Chapter’s “Be Smart Buy New” promotion, prospective buyers looking for homes in more than 30 new communities will get a discount …
HOUSING MARKETS / REAL ESTATE
OPINION – By Anthony Randazzo // The median price for an Orange County home this January was $460,000, according to DataQuick. That’s up from $370,000 in January 2009, and many people are feeling increasingly optimistic about the housing comeback. As the housing market resurges, we should note that the underlying problems that helped cause the housing bubble remain largely unfixed, and that this recovery could be built on a foundation of sand. …
[March 7, 2013] // Sacramento saw the steepest decline in home inventories of any big city in the nation over the past year, Zillow reported. Click through the slideshow to see a list of the top 25 metro areas, ranked by the percentage decline in homes for sale in the year ending Feb. 24.
By Mark Glover // The Sacramento metro area leads the nation in an unenviable category. The number of area homes listed for sale on Zillow was down 48 percent year-over-year in late February, a percentage plunge that topped the 30 largest U.S. metro markets tracked by the Seattle-based company.
ECONOMY / EMPLOYMENT
By Peter Hecht // In Washington, the across-the-board budget reduction triggered by the failure of Congress and the White House to reach a deal on federal spending is called the sequester. In the Sacramento region, the rippling impact is called uncertainty.
By Melissa Wiese // The number of people filing jobless claims across the country dropped by 7,000 to 340,000, according to the U.S. Department of Labor. California also reported a large drop in new claims. The four-week moving average was 348,750, or a drop of 7,000 from the previous week. The number of people claiming unemployment benefits …
TRANSPORTATION / TRANSIT-ORIENTED DEVELOPMENT
By John M. Zukoski // … The Dublin Crossing master planned community that SunCal will develop on the 180 acres is expected to be a centerpiece for the City of Dublin. It will be another transit-oriented development within walking distance of a BART station and include 1,500 new homes, neighborhood parks, and several hundred thousand square feet of retail, office, hotel, and industrial uses.
By Aaron Kinney // REDWOOD CITY — The city of San Jose shared its latest vision Wednesday for expanding Diridon Station and transforming the surrounding downtown area into the “Times Square of Silicon Valley.” The ambitious plan calls for a central entertainment district, possibly including a new major league baseball stadium for the Oakland A’s, in the midst of new residential and office development. …
NATIONAL HOUSING NEWS
By Christina Mlynski [3/6/13] // There is no entity in the private mortgage market that could assume the large volume of mortgage business carried by Fannie Mae & Freddie Mac, U.S. Rep. Carolyn Maloney, D-NY, argued during a U.S. House Financial Services Committee hearing. Rep. Maloney suggested without the GSEs, borrowers could also lose access to the popular, 30-year fixed-rate mortgage
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California Department of Housing & Community Development WEB NEWS service coverage:
Mondays, Wednesdays and Fridays each week includes electronic format articles retrieved from newspapers or news services that report housing and community development news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet – and any significant related breaking news.
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