California Home Sales Predicted to Continue Gradual Climb in 2013, State Realtors Group Says

Home sales in California are expected to continue their ascent into 2013, according to the California Association of Realtors. The increase from 2011 to 2012 is expected to be 5.1 percent. The state association expects sales to jump about 1.3 percent in 2013 to approach 530,000 units. Some 523,300 units are projected to be sold by the end of this year.

Inland Empire Homeowners Sue Builders For Property Value Decline

A group of homeowners in California have revived a lawsuit in the federal courts, alleging that the value of their homes has dropped as a result of negligent actions by eight homebuilding companies. According to a report from Reuters, the homeowners, who live in California’s Inland Empire region, say that they purchased their newly-built homes

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Phoenix Realty Group Acquires Three Apartment Properties

Phoenix Realty Group (PRG) announced the acquisition of an apartment portfolio for three properties containing 432 units in San Bernardino and Highland, California.  The entire portfolio sold for $21.5 million, and Phoenix acquired it from a lender that had taken over the assets in 2009. The properties had gone through a period of distress and

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HP Deal Signals Big Corporations Back in the Business

Yesterday’s announcement that Hewlett-Packard has agreed a seven year deal to lease a huge 1.4 million Sq. foot distribution center in San Bernardino marks the return of big corporations to the real estate market, industry observors claim. According to Westcore Properties, the computer technology giants plan to begin operations in the Cajon Distribution Center sometime this summer, and it is hoped that more such deals will be back on the agenda soon.

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