The icy retail climate along the Highway 50 corridor east of Sacramento is slowly beginning to thaw, but an overabundance of standing inventory remains.
The number of distressed properties on the market in the Capital Region is finally shrinking. And, the so-called shadow inventory — properties that are not yet on the market but which are seriously delinquent, in the foreclosure process or foreclosed — is also declining.
When the future of redevelopment agencies started to look shaky last year, West Sacramento decided it could do without one. The city put together a new financing strategy, and in May the Community Investment Action Plan was revealed.
Right now our region is in the dumps. We bemoan our high unemployment, our devastated city budgets, our beleaguered school systems. We look enviously at our neighbors to the south and west, whose economies are improving faster than ours.
Sacramento County will need an estimated 23,000 low- and very low-income housing units in the next nine years. The six-county region stretching from Yuba to Placer to El Dorado would need more than 41,000 units. But without the tax increment financing once provided by redevelopment agencies, city leaders are wondering where they’re going to come up with the cash to build.
Developers looking to build in the Capital Region are finding cash in emerging green-financing products.
Life often has been unkind to economic development directors since California put its redevelopment agencies out of business last year. Randy Starbuck tells it first hand.
Immediately south and southeast of Elk Grove are thousands of acres of mostly undeveloped farmland that officials think the city will someday need. The plan is to add nearly 8,000 acres — about 29 percent of Elk Grove’s current size — to its fold. But critics say Elk Grove has plenty of unused land within its borders, and California is losing farmland fast.
High-speed trains linking Northern and Southern California have been a point of contention for more than a decade. For some, such “bullet trains” are the ideal solution to growing transportation needs; for others, they represent a boondoggle with enormous economic risk.
Roseville may be contemplating — again — plans to build a long-coveted conference center. The city has for years touted the benefits of a civic center, but such projects are notorious for their inability to bring in hefty, consistent revenue, and plenty of people are wondering if the right time for such a gamble is now.
A town long known for its quaint historic authenticity, Truckee in the past five years has evolved from a sleepy hamlet to a city with the promise of vibrancy.
In the Capital Region, it’s up to each county to reel in recovery by marketing to businesses that stimulate economic growth.
Brian O’Hearn is an accidental landlord.
Like more and more homeowners caught in the descending mortgage spiral, O’Hearn and his wife, Juliet Williams, faced tough choices. Married in June, they owned his house in Folsom and her Sacramento condo — and both wanted to live in midtown.
Jeff Michael, 42, is the director of the Business Forecasting Center at the University of the Pacific.
Stan Atkinson could be described as a homebody these days. It’s not that he doesn’t like to go out occasionally, but Atkinson, like many other aging Americans, would prefer to stay in his home as long as possible.
The Capital Region’s industrial real estate market is bouncing along the bottom, but local brokers are cautiously optimistic that signs are pointing to a steady, albeit slow, recovery this year.
Ted White has worked in residential property management in the Sacramento area for more than three decades. He gloried in the boom times and helped homeowners and investors slog through the murky waters of the ongoing real estate meltdown in one of the hardest-hit housing markets in the nation.
Barely a month into Barack Obamas presidency, his administration announced a major effort to help millions of underwater homeowners refinance into mortgages with lower interest rates. But the Home Affordable Refinance Program, or HARP, came with limitations that stifled its effectiveness.
Some developers are building again, prodded by increases in buyer traffic at model homes and an uptick in sales over the fourth quarter of 2011 and the first months of 2012.
Parts of the Capital Region are experiencing the hopeful signs of recovery, partly due to the re-emerging health of its eastern neighbors.