Content about Southern California

The nation's single-family housing market is springing back to life, and the luxury market is budding right along with it.

Luxury homes have received a healthy boost from historically low mortgage rates, increased buyer confidence and burgeoning interest from foreign investors looking to capitalize on favorable exchange rates.

One bellwether of the recovery: Toll Brothers, the largest luxury home builder in the United States, reported that fourth-quarter revenues (ended Oct. 31, 2012) were up 48%, and new orders were the highest level seen since 2006.

The strike that shut down the ports of Los Angeles and Long Beach for eight days ended this afternoon, and retailers in Southern California heaved a great sign of relief. According to an article in the Los Angeles Times, the strike began when a clerical unit of the International Longshore and Warehouse Union Local 63 walked off the job, over the issue of improved job security.

Beacon added two new companies to its roster in July: Structural Materials Co. in Southern California and Contractors Roofing & Supply Co. in St. Louis.

The appetite for acquisition remains unsated.

“We are confident that we will add other quality companies in the near future that fit our target acquisition profile,” said CEO Paul Isabella during Beacon’s third-quarter earnings call.

All American Home Center was known throughout the industry for its size (175,000 sq. ft.), its longevity (more than 50 years) and, most of all, its locale — across the parking lot from a Home Depot in Southern California. So when the owners decided to shut down the home improvement warehouse late last year, it came as a shock to All American’s executive team, whose tenure ranged from 25 to 35 years. The store, they claimed, was still turning a profit.

And Downey, Calif., still needed an independent hardware dealer.

Last year, the original 50 Home Channel News Hardware Store All-Star honorees established a high bar and a hard act to follow. But the 2012 crop rises to the challenge. This year’s Hardware Store All-Stars, one from each of the 50 U.S. states, have at least one thing in common: Ask them what makes them special and you can bet they’ll include “excellent customer service” in the answer. From there, every path to stardom is unique.

Waypoint Real Estate Group, one of the nation's leading acquirers of distressed, single-family properties, and GI Partners, a mid-market private equity firm, have announced a partnership where they will acquire and then rent out more than $250 million in single-family homes. Ultimately, GI hopes to invest more than $1 billion in distressed and foreclosed homes over the next two years, with Waypoint managing the acquisitions and rental conversions.

Vista, Calif.-based Eco Building Products (ECOB) has announced an agreement with Trussed Inc. to produce patented Smart Components exclusively with Red Shield protection in Southern California. Under the agreement, ECOB has licensed rights to Trussed's proprietary design software package and patented technology, and executed a supply agreement. 

Solar power is a standard feature in 10 Southern California communities built by Los Angeles-based KB Home.

KB has experimented with solar programs for years, said Jeffrey Mezger, president and CEO of KB Home. "With this announcement, we are raising the bar even higher and taking an important step in making our homes even more efficient and affordable for our home buyers over the long term, especially when compared with resale homes," he said.

A man suspected of robbing a Southern California Home Depot arrived in a taxi and then fled the scene in the same cab, according to an article in the Orange County Register.  

According to an article in the Los Angeles Times, Southern California residents scrambled to fight a losing battle with rain and floods.

In areas of San Bernardino, mud invaded blocks of homes, according to the article. Even San Diego's Qualcomm Stadium, home of the Chargers, flooded.

The Sorrento Valley location of J&W Lumber, a six-unit chain of lumberyards throughout San Diego County, was flooded with several feet of water.

Several years ago, the couple down the street -- one of them a landscape architect -- decided to tear out their front lawn and put in a drought tolerant garden. This being Southern California, no one batted an eye. In fact, San Diego Home & Gardens magazine did a photo spread on the project.