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San Diego Enters the Red Tier

Southern California Real Estate Report

16:59 min | 7 months ago

San Diego Enters the Red Tier

"Today on the southern california real estate report. San diego is in the red tier. Find out what that means. Stay tune welcome to southern california real estate report. This is bob mcguire. Daniel wise come into from san diego. California reopening sandiego reopened a red tier san diego. Right pretty exciting. So so what does this mean really for us so it. There's there's some right there's some honest it doesn't mean anything but i'm not gonna sit inside and san diego weather right now and other at a restaurant but you know what it does mean that the world i was opening up restaurants precise operate at twenty five percent capacity inside museums could operate inside a twenty five percent capacity. Haven't been very perk is open so all in all the fun things seaworld you know. I don't know what to say about seaworld. But so they offer operate again inside. I think they've been able to operate outside museums but now they can go back to operating inside right in time for our summer. Tourism season right and saint patrick's day right so which this is going to post just the day after saint patrick's day but it was a big deal so going into the red tier for that particular day. It was big deal. So i go to this really like super great little deli down in down by san diego state. Right and it's it's a real popular one. I don't know if you've ever been to it. it's It's it's like a little jewish deli called What is it called. I cannot remember the name right now. i can't believe. I'll have to look it up. I'll post at d. d. and it's awesome. It's like really authentic really great and it was packed. Last night. I went last night to pick up dinner and i do weight and extra forty five minutes to get my dinner and it was to go do irish jews in common like well. I think it's just because it's a deli. They just do super good corned. Beef was one of those things. So it's a really but it's a really popular. So i think that the delhi site that the jewish shelley more like east coast so they're really really good. It's just i mean. does that sound bad. I don't. I don't know i so. So it's a really like it's it's it's like an authentic east coast deli. That's yeah i don't know what's funny as delays even growing up with a jewish family. I don't go to delhi. So i really don't know like a bad east coast deli from sally so it's i think it's a lot different. It's a lot. There are a lot better and so they have much better light quality of meats. And everything like that. So it's just the one in del mar really popular same thing. East coast are west coast elliott. That's like an east coast one and that is also a very well known really good jewish delis so that the east coast jewish. He's known as being really good. Yeah and so so. That's why it's not like it's not like It's not like a religious thing or anything but it's it's always funny that i hear so milton's and are the two big ones here and i'm sure milton's was super pac too but So it's really good and and it was packed. It was packed packed. Like i've never seen it. That packed and crazy and spent there. Because i was there to get dinner together because i wanted corn beef. Because i'm an irish guy and it was the whole outside was completely packed and there was like a line like out the door around the building practically to get in and that was to order it and you had to wait an hour to order it. So it's so. I mean clearly like the red tier like people were getting out. Yeah i feel like people having getting out if you like. The more and more people are that are getting vaccinated especially has kind of elderly generation. It's getting vaccinated. You're gonna see a resurgence and that's a really good point. Because last night it was a lot of older people. Like a lot of people that you wouldn't think would be going out. We're definitely out who fully vaccinated talking to. They're like oh it feels so good to be vaccinated and you know. Yeah we're we're we're ready to get out again and people were talking like in line that this was the first time they've been out in a long time so i think it's good the combination of the vaccine's rolling out at the same time that obviously that's having an effect on the numbers here they're saying that our numbers are really good So the the numbers are. I think we've now gone to six cases per hundred thousand. I don't remember exactly what we're we're so it is saying in here and this by the way was out of the. Ut okay so union tribune and they are saying nine of the other county so it looks like nine. Other counties moved into red to in those were monterey riverside sacramento santa barbara center to hema to lori and ventura And then that just leaves eleven of the california's fifty eight counties in the most restrictive purple tier still the the cases. They're saying have gone to six point. Eight per one hundred thousand residence so they took last week's case rate which was eight point. Eight where at six point eight. And i think they took like a combined total and that got us just over the mark to go to read. So that's good so we keep having our case count drop to which is which is good and i think a lot of that has to do with vaccines right. We're just not spreading fast and it's starting to slow down so hopefully this'll be. The weird thing is in europe. They're kinda getting so talked to one of our clients say who lives in france and She was saying that you know like where she is. She's around knees and it's become more restrictive there so they become more lockdown. Why i think it depends on which variant is prevalent in the area and then what track seen. They're having. I think that they have astra zeneca a lot of like you think the uk is using that vaccine right But here we have a quite a few different vaccine options. Were not using that one yet. But i don't give me don't quote me on that. I think that that they've had a little bit more of a problem. Coming out of this then we have maybe for a number of reasons but Yeah it seems. Like san diego is kind of back on track a little bit more. And you're definitely you know the reason why i joked and beginning like i'm not going to see differences because like for us we. We've we're central business. We work pretty regularly. And we've been really lucky in that that stands to be operating normally throughout this entire thing. We've been really fortunate almost like a tech company in a way that we just haven't had any any employee layoffs we haven't had any we've expanded so yeah through this entire time like if you think about interest hurt probably the real estate industry real estate interests had their own problems. But not in that way so me and jake. Don't go out to dinner that often. So it's not like something. We're gonna see immediately effects of of the red tier. But i do know that a lot of our businesses because we managed some some restaurants base are going to feel the benefits of i hope so right i mean we. We've had some guys that were really struggling out in alcohol and around san diego state and that's been really hard in those locations because they got hit double so not only did they get hit with their with their business but they also got hit really hard with. They got hit really hard with the school closing down. I mean you know and so they lost a lot of customers so it's good to see that like places like that are coming and they have a patio. That's very popular in and outdoor patio. So they can start using that more to and getting people inside so i think this is great. I think it's going to be interesting. I still think it's too early to tell how things go and one of these segments of this industry the hospitality industry. Let's say between restaurants and hotels. The hotel side they're saying is quite picking up yet and so hopefully over the summer is that i. I've heard just from a few people that you know. A lot of work done now higher to summer months where things are going to hopefully get back to normal. You know you hear a lot of stories people wanting to travel again. I think for those who have not been hit financially from the coronavirus. I think there going to be a little dislike. It's go out and do things and san diego is probably looking pretty good because we have such good weather. We're not having to be indoors zona or someplace where in the summertime we don't want you can't walk outside right. Yeah i mean it'll be it'll be good as things start to wind up so my question is right now and i don't know if this says anything about so. What is the next year after red. And what are the numbers that we have to hit now. Does this have to go in half. Is that the the deal so for at six point. Eight and eight point eight right. I'll have to double check There is a chart online. You can find it through the Through a website lincoln that description box ineffective number of light. Seven point eight. And i'm pretty sure. I think that that has to drop down to like four or three point nine or whatever in order to move to that next here. Yeah yeah it's it's significant. It's like a fifty percent decrease right in the next year thousand. Yeah on case count. Yeah and this is just a star in. Hopefully this is the start of a trend that moves us down unlike last summer when we were moving down they were moving back up and it sounds like the the vaccines the vaccination efforts are going to start to increase to. So we'll see i know. They closed down at least in our town they. They closed the one at petco again. Right they did. Because because you know the stadium's going to be opening up soon for baseball so that was the reason that wasn't that was relocated to you. Know you can get it on a lot of private providers only. Cbs is offering them a lot of you. Know you can you. You have to go online. There's a lot of different locations now so they're not these in les da. Dum racetrack might be still doing that. Like supercenter type deal. And i think there a few more of those like supercenter type places but i think you're able to go i think th you know they've been talk a lot with blue shield and having i don't know if there's anything buying allies jet you know eventually having them offer it as well right some obstacles are offering it so i think that there is just more options for places to get it instead of having to go to one of these massive fault park. Yup it's it's it's good news for the city. It's good news for city like ours. I think any city you know really in california. i mean. they're all kind of tourist cities right. I mean los angeles is the same as san diego but our city not yet yet. So i think that san francisco is still trailing to. Yeah so you know. The only major cities is it. Santa barbara is which is good so hopefully as more vaccines get out in the other. Larger cities like los angeles. things start to improve their. I think los angeles has been probably a little more politicized to other cities. I know that's had kind of a push. Poll between you know some of the people that want to open people that want to keep it closed so hopefully you know. I think pretty much across the whole state of california. The good news. Is that what we're seeing is. A trend of case counts going down. And that's kind of what we needed to get to the restaurants and our you know we. We've managed a place to has the salon and these things can start to get back to normal You know a lot of tenant problems of issues. We opened up for a little bit. If you recall opened up kind of like a little bit over the holidays right and then we went back to the purple tier. I guess right before the holiday out right before the holidays and then we went back to the purple tier on november tenth. And we've been in that ever since so that's a that's a pretty big slap. Yeah when you were expected to start to kind of roll out. There's a little restaurant to in coronado called thirteen's and it's kind of at the top of Of orange avenue i. they're kind of on the bay side. Yes and you know she was talking to me. Last week. I went to pick up some dinner for some family friends and she was talking to me and saying like how like she was like. I really hope we go to this next year. You know next week because they were they were kind of exhausted on. You know all the to go and everything else a lot. Nothing being open. All they had was little section in their patio. So imagine those you know in those cities were rents are pretty high. And you know you're hoping that landlords are providing concessions and working with your tenants but at the same time you know you just you can't operate that way forever. Now it's a year like that is a long time. It's a long time. So i'm happy for them and happy. Happy to see that we're kind of getting things going back the right direction. So we're going to keep an eye on this. This is going to be interesting to see what the timeframe will be now so saying that we went into the other tier in november. So i wonder if it is going to be another like four months now before we go into that that next year of of being open. I think it depends on how fast these vaccines get rolled out and then as well as you know how well they help active. They are at these different variants. That are coming out. So they're saying that they're going to be on track to hit this hundred million number of vaccinated people here in the us within the first ninety days. So that's that's a pretty good milestone and so we'll we'll go from there you now and see what that does i mean that. That's basically a third of the country right little under that so when you factor in the children are as susceptible even though they can spread. You know that's a that's a pretty good baseline i think. Yeah because then. There's the argument of are we at herd immunity. Are we not you know. What's the math on. That wouldn't believe. What are you down. So i think that you know it certainly sounds like by summer. We could feel pretty normal around here. You know if that's the case that would be nice so it'd be nice to not have to wear a mask anymore. I'm kind of excited for that. Yeah have a nice. Yeah and it sounds like gyms or opening to so that's twenty five percent capacity inside inside down so that's good so the outside gyms although some people i've heard really liked the gyms pretty cool yeah as someone who never really went to. I really can't say with me even though i should so. Hey thanks for listening today. This has been the southern california real estate report and see next week.

san diego east coast bob mcguire Daniel wise southern california west coast elliott milton monterey riverside sacramento delhi zeneca saint patrick seaworld San diego East coast patrick california astra ventura lori