Eminent Domain Report

This is a bit last minute, but I wanted to remind our readers to attend the International Right of Way Association (IRWA) meetings this week in Orange County and the Inland Empire.  Here's what to look out for:

• IRWA Chapter 67:  Orange County holds its monthly luncheon today, January 8.  John Ellis from Integra Realty Resources Los Angeles will provide us with an update on the 2012 real estate market and what to expect in 2013.  John and Integra are integrally tapped into the Southern California real estate market, so those in attendance should get some great insights. 

Just a reminder for all you eminent domain and right of way practitioners still mentally on summer hiatus.  IRWA Chapter 67 (Orange County) starts its new year next week.  The September meeting is Tuesday, September 14, at the Holiday Inn, Santa Ana/OC Airport, located at 2726 South Grand Ave., Santa Ana CA 92705.

The meeting starts with a "meet and greet" at 11:30.  Lunch commences at 12:00.  We will have a lunchtime presentation from John Ellis of Integra Realty Resources in Los Angeles.  He's going to give us an update on the real estate climate here in Southern California, and I've made ...

This is the question John G. Ellis, MAI addressed at the IRWA Chapter 1 Fall Seminar last Tuesday. Mr. Ellis divided his presentation into four distinct questions:

1. What is the current state of the market;
2. How did we get to where we are now;
3. What are the trends looking forward; and
4. Have we hit bottom yet?

The picture painted by Mr. Ellis [PDF] was befitting of the Halloween season, and in some cases was downright depressing. Most submarkets are demonstrating reduced sales volumes, lower rents, higher cap rates, and lower sale prices. Mr. Ellis demonstrated how a 1.25% increase in the ...