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Against the backdrop of the COVID-19 pandemic, economist Peter Linneman this week explained why single-family home sales have performed better than he’d expected and some reasons he’s bullish on multifamily. Linneman offered an economic analysis and some predictions during Wednesday’s Walker Webcast: Magic 8 Ball for the Markets, hosted by Willy Walker, chief executive officer and president of Walker & Dunlop. Linneman previously predicted that the COVID-19 pandemic would torpedo home sales, and while sales indeed dropped in April and May, it wasn’t the collapse that the economist initially anticipated. He said his earlier assessment missed the phenomenon of “involuntary… Read More

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Question: If I miss sending a security deposit disposition with 21 days as required by law, must I return the entire deposit rather than deduct amounts owed, such as outstanding rent? Answer: The law is silent on this point. As a result, some judges do and some judges do not allow the landlord to make a deduction from the deposit if not properly accounted for in accordance with California law. However, this does not mean that the damages to the unit, necessary cleaning and unpaid rent are not owed. In any event, landlords can pursue any monetary claims they have… Read More

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With an influx of apartments coming on line in the Bay Area, it begs the question: Can the now-insatiable demand for rental housing keep pace? Or — it’s OK to wince — will tens of thousands of new units glut the market? Industry leaders addressed this question at Marcus & Millichap’s Multifamily Bay Area Forum. Read about it in this article in the San Jose Business Journal.

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E&S Ring Management has won approval to build a mixed-use development in Pleasanton that will boast nearly 350 apartment units and almost 40,000 square feet of retail. The approval can by the unanimous vote of the Planning Commission on July 10, according to this article in the Contra Costa Times. The development will stand on 16 acres at Stanley Boulevard and Bernal Avenue. “I’m thrilled we’re at this point,” Commission Chairwoman Jennifer Pearce said, according to The Times. “This is a great use for this site. The architect has stepped up, and it looks great.”    

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