Corona’s Crown Deli ranks No. 1 on My Fox L.A. ’s 2008 Best Sandwich Shop list

Corona offers several of the region’s best dinning and shopping options

CORONA, CA: The city of Corona is pleased to announce that My Fox L.A. ranked Corona’s Crown Deli as this year’s No. 1 sandwich shop in Riverside County. This honor is part of the Los Angeles based Fox 11-LA’s annual HOTLIST, an audience ranking of favorite businesses by county. This recognition is another feather in the cap for Corona , which offers some of the Inland Empire ’s best dining options.

Crown Deli is a sandwich shop that specializes in classic deli sandwiches, and homemade soups and salads. World-class Boar’s Head meats and cheeses are sold by the pound. Locals describe the food as delicious and extremely fresh, which helped the newer shop rank above other regional sandwich shops, some of which have been in business for more than 40 years. Although the shop is off the beaten path, patrons claim it is well worth finding.

Located at 505 Corona Mall #103 in the city of Corona , Crown Deli is among the city’s rich landscape of premium dining experiences. Corona continues to be the region’s leader in attracting quality restaurants and retailers, which include BlackWood America Grill, TAPS Fish House & Brewery and Wood Ranch BBQ & Grill.

About the city of Corona

The city of Corona , centrally located between Orange County and the Inland Empire , is an innovator in building an attractive environment in which to locate a business. Rising from its humble beginnings as a small agricultural community, Corona is now an upscale city, offering a vibrant and thriving economy for businesses, residents and visitors alike. It is located in West Riverside County , at the hub of Los Angeles , Orange County , San Diego and the Inland Empire .

Murrieta, CA: Men's World Amateur Team Championship players selected by USGA

The United States Golf Association has selected three players to represent the U.S. at the 2008 Men's World Amateur Team Championship, Oct. 16-19 at Royal Adelaide Golf Club and The Grange Golf Club West Course in Adelaide, Australia.

The American team will be comprised of Rickie Fowler of Murrieta, Calif., Billy Horschel of Grant, Fla., and Jamie Lovemark of Rancho Santa Fe, Calif. All three players were members of the victorious 2007 U.S. Walker Cup Team.

Kyle Stanley of Gig Harbor, Wash., was named first alternate, while 2008 U.S. Amateur runner-up Drew Kittleson of Scottsdale, Ariz., was named second alternate.

"I can't wait," said Fowler, the 2008 NCAA Player of the Year. "It's going to be a tremendous opportunity and a great competition, and hopefully we can return home with a victory. I think we have a very solid team, and if we concern ourselves more with how we play instead of worrying about the other teams, we should have a great chance."

Walter Driver, USGA past president, will be the team captain.

The Women's Amateur Team Championship will be conducted prior to the men's competition, Oct. 8-11 at The Grange Golf Club's East and West Courses.

Named earlier to represent the U.S. were the Women's Amateur champion Amanda Blumenhurst of Scottsdale, Ariz., Tiffany Joh of San Diego, Calif., and Alison Walshe of Westford, Mass. Marcia Luigs of Carmel, Ind., is the women's captain.

Ace Hardware Bldg. in Temecula Sells for $2.35M

Investor Buys 13,000 SF at 30715 Temecula Parkway

B&G Investment Development LLC purchased the 13,120-square-foot retail building from Borchard-Temecula LP for $2.35 million, or approximately $180 per square foot.

The building is at 30715 Temecula Parkway in Temecula, CA, and is leased to Ace Hardware through 2048.
The cap rate was reported at 5.8% based on income at the time of sale.

Built in 2007, the property is on approximately 1.1 acres.

Bidding Wars in the Inland Empire (Re-Published Story)

If you’re OK with smog, heat, traffic, a lack of urban amenities, an abundance of pit bulls and Rottweilers, and mind-numbing commutes, consider buying a home in the Inland Empire, where a little money buys a lot of house. (Sorry, but I used to live there.)

Home sales were up last month in the six-county Southern California area, led mainly by sales of bargain-priced foreclosures in Riverside and San Bernardino counties. But according to this story from Leslie Berkman of The Press-Enterprise of Riverside, Inland Empire prices could still fall farther.

Economists and real estate insiders agree that the biggest price drops are behind in Inland Southern California. But they say prices could fall another 15 percent or so, bottoming in mid- to late 2009 or 2010.

But those predictions aren’t stopping I.E. homebuyers.

In a year, prices on the resale market have fallen about 39 percent to a median of $238,190, influenced by a tremendous influx of bank-discounted houses in foreclosure. In just one month, from June to July, the median price dropped more than 9 percent.

“I always wanted to be a homeowner and now it is finally possible,” said Michael Carlin, a 29-year-old Corona school teacher. Carlin, who started house hunting in July, has faced fierce competition in his $200,000 to $240,000 price range, with each house receiving up to 18 offers. He said recently he made offers on eight houses in hopes of having one accepted.

Although prices may continue to drop, mortgage rates are another story:

Bruce Norris, a Riverside real estate investor who has successfully predicted past trends, figures the interest rate on a 30-year-fixed rate mortgage could climb from 6.5 percent to as high as 9 percent in the next two years. That would make even significantly lower prices “a moot point,” he said, for those needing financing.

For someone wanting to buy a house to live in, Norris said, it’s a good time to tie up long-term financing, which now is as cheap as it is going to get.

A long commute and a compromised lifestyle may be the price for median-income Angelinos who want to own homes. There aren’t many one-bedroom condos for $250,000, let alone new-ish three-bedrooms with yards, around these parts.

Corona, CA Plane Crash (Follow-up): "Brandon Never Saw It Coming"

Corona, CA: If you watch national news, you likely heard about a fatal plane crash that occurred on January 20, in Corona, California, but it is entirely possible that you have since forgotten about the accident. After all, plane crashes are reported in the news fairly frequently. However, Brenda J. will never forget the accident—her 24-year-old son was one of the five people who died in that plane crash.

Brenda says that her son, Brandon, had always wanted to be a pilot. "I'm a teacher, so I get to hear children talk about what they want to be when they grow up," Brenda says. "It changes on a daily basis—but not with Brandon. He took his first plane ride when he was two years old and from that moment, all he wanted was to be a pilot. We used to take him to the airport on weekends to watch planes takeoff and land. We had to wait for him to fall asleep before we could leave the airports because he just wanted to stay there and watch the planes. All he wanted to do was be a pilot."

In 2007, after being laid off from his sales job, Brandon liquidated his assets and started flying lessons. Three weeks after he started his lessons, he earned his private pilot's license. He then took time off for the holidays before enrolling in commercial pilot school. On January 20, 2008—the day he died—Brandon earned his commercial pilot certification.

Brandon was offered a job that same day, but was then told that he was lacking flight time. He had only a little over 100 hours and needed a minimum of 250 flight hours. So, Brandon and another student chartered a plane to fly across the country and accumulate hours. They took off from Corona's municipal airport.

"Two minutes after they took off, the pilot of another plane had a medical condition—a stroke or heart attack or something—and he slumped over," Brenda says. "That plane went into an assent and crashed into Brandon's plane from beneath and behind. Brandon never saw it coming. The crash killed both pilots, both passengers and a man on the ground who was working [he was hit by debris from the plane crash].

"What really upset me is that immediately after the crash, every newspaper assumed the crash was caused by Brandon because he was young and new. They argued that the regulations should be changed so that it's not so easy to get a license. But, the investigation showed that it was the pilot of the other plane who caused the crash. He was in his 70s and had 50 years of flying.

"There is no control tower at the airport in Corona. Some of the deaths in the area [according to the Los Angeles Times, 16 deaths approximately ten years, including this plane crash] could have been prevented if there was a tower, but no one has done anything about it. They say that they can't afford a tower, but how many people have to die before they put one up? My baby had to die because it wasn't cost effective to make the airport safe. That doesn't make sense to me.

"I want everyone to know what an incredible young man he was. He was a wonderful person and he was a good pilot. He didn't take those five lives. I know he died happy—he didn't see it coming. He was on cloud nine and his adrenaline was pumping and he was smiling. I'm grateful for that.

"I hope his life will not have been for nothing. And, though I don't see how, I hope that something good will come from his death. Maybe Corona will get a tower at the airport. I don't want even one more mother to have to go through what I'm going through."

The Promenade Shops at Dos Lagos SLAMMED...Housing slump drags on broader Southern California economy

The state's 7.4% unemployment rate, a 12-year high, reflects job losses in sectors dependent on the real estate market.

The Promenade Shops at Dos Lagos opened two years ago in Corona, aimed at serving the legions of people moving into upscale new housing tracts in the surrounding hills.

Discount center it isn't. This is where you go to find a $3,300 home espresso machine at Sur La Table, a $500 handbag at Coach or a $6 cup of Pinkberry frozen yogurt.

Harder to find are paying customers. On a recent weekday afternoon, most stores had fewer shoppers than salespeople.

Outside the Starbucks, Melissa McVicar was selling sunglasses from a cart, $12 a pair. Five hours into her shift, McVicar had sold only six pairs. And most of her customers weren't paying cash.

"People are buying on credit, even if it's only $12," she said.

A year after the median home sales price in Southern California started to go down, Dos Lagos is a good example of how the housing slump is spreading into the broader economy. New housing developments were supposed to have brought thousands of big-spending residents to the area. But only a fraction of those houses were actually built and sold, leaving the rolling hills around the mall bulldozed and bare.

That means retailers won't sell as many goods or hire as many people, which lessens demand for other goods and services. It's just this sort of ripple effect that's behind California's rising unemployment rate, which hit a 12-year high last month, economists say.

And it all traces back to the housing downturn.

For every area job lost in construction, real estate or banking, three other positions will disappear, according to the U.S. Department of Commerce.

"There's a multiplier effect with housing. When a job is lost in real estate it ripples throughout the economy," said Sung Won Sohn, an economist at Cal State Channel Islands in Camarillo.

Sohn estimates that 1 out of 8 jobs in Southern California is related in some way to housing, and as much as 80% of a median household's net worth is in the family home. So if a carpenter or real estate agent loses a job, it can lead to employment losses in fields such as retailing and restaurants as spending declines. Individuals and families will also spend less if their home values decline.

Tens of thousands of jobs have been lost in the sectors most directly tied to housing -- construction, banking, retail and real estate -- in the last year alone, driving unemployment up to 8.1% in Los Angeles County and 8.9% in the Inland Empire. Local governments have also cut jobs as sales tax collections have slowed.

Statewide, housing-related job cuts pushed the California unemployment rate to 7.3% in July. More jobs were lost in construction than any other sector in the last year, according to the California Employment Development Department. Total construction sector employment in July was down 83,100 jobs, or 9.3%, from the same month a year earlier.

The second-largest drop in employment came from the financial sector, which includes mortgage banking. That sector lost 35,400 jobs in July compared with a year earlier, a 3.9% decline.

Unemployment probably will continue to rise through 2009 and then decline in 2010, said Chapman University economist Esmael Adibi, and rising unemployment will drive further home price declines, he said.

"The bad news in housing so far happened because of mortgage resets and financial reasons," he said, as borrowers defaulted on mortgages they could not afford. Those housing losses occurred even while employment remained strong.

That's changing as more are put out of work. "Now, the problem is the real economy. People who could have made their mortgage payment even with the reset lose their jobs or their spouses lose their jobs and [they] can no longer pay their mortgage," he said.

Adibi predicts unemployment will rise by about half a percentage point in Southern California.

Another trouble spot is declining tax revenue, which would probably lead to government job cuts. State sales tax data, currently available only through the second quarter of 2007, showed such revenue increasing by less than 1% from 2006, compared with growth of 5.4% from 2005 to 2006. Sales tax collections were down 3.5% in Riverside County in 2007 from the previous year, and 3% in San Bernardino County.

Adibi said this year's numbers probably would show a greater decline, and property tax collections were also likely to fall with home values.

Jack Kyser, chief economist of the Los Angeles County Economic Development Corp., thinks job losses may be much worse in the Inland Empire, where a higher percentage of jobs were tied to real estate. Kyser also thinks the jobless rate won't improve until 2010.

He said the unemployment rate in Riverside and San Bernardino counties could rise above 10%.

And that would only add to the glut of unsold homes in the Inland Empire. "They have a tremendous inventory overhang," Kyser said.

There is also the possibility of store closings and staff cuts at the many retail complexes, like the Promenade at Dos Lagos, built to serve communities that didn't materialize. "The retailers were chasing the rooftops," Kyser said of stores built near new housing developments, "but all of a sudden they found no one is living under those rooftops."

Ricardo Chance, a managing director of KPMG Corporate Finance in Costa Mesa who helps builders restructure troubled projects, also said a recovery for real estate and the local economy wouldn't happen soon. Among both lenders and builders, "no one really knows where the bottom is" for housing.

In the last few months, Chance said, investment funds have become interested in purchasing distressed housing developments at discounts, which may signal the beginning of a slow turnaround for large-scale projects.

But Chance said the market for individual homes wouldn't correct soon. That's because home builders and investment funds considering major projects will make buying and selling decisions quickly, based on numbers. "It's a more efficient market. It's not emotionally charged," he said.

Homeowners, on the other hand, often won't cut prices fast or deep enough to sell their houses, Chance said, and home buyers might seek prices that are unrealistically low.

UCLA economist Edward E. Leamer believes that job losses will continue to grow slowly through 2009 but that the worst job losses -- mainly in construction -- have already occurred.

He believes economic recovery will require a cultural change. During the real estate boom, he said, consumption rose dramatically while investment in things like factories and industrial equipment, which generate long-term economic growth, declined.

"A large part of our growth came at the expense of future growth," Leamer said of the borrowed money spent on depreciating houses, cars and restaurant meals. "This could be the moment of a radical shift, if people realize their spending was inappropriate," he said.

Leamer sees at least a couple of years of tough economic times for Southern California. Real estate fueled the last boom, but now "there isn't another locomotive, a force that allows us to move forward," he said.

"While we're weaning ourselves from housing we're trying to find a new driver. That will take a long time."

Corona police shoot man as he flees stolen vehicle

CORONA, Calif. - Authorities say Corona police have shot and killed a man as he fled from a stolen sport utility vehicle in Riverside County.

Officers responded to a report of a suspected druken driver behind the wheel of a white SUV on Monday afternoon.

Police say a computer check confirmed the vehicle was stolen during a carjacking.

Spokesman Sgt. Jerry Pawluczenko says when officers saw the suspect leaving the vehicle, they pursued him. He says the man pulled a weapon as he fled, and officers shot him.

Pawluczenko could not say when the vehicle was stolen or why the suspect fled.

The man died at the hospital. His name has not been released, pending notification of relatives.

One officer has been placed on administrative leave.

A lofty lake takes Trevor's top spot...Big Bear Lake, CA

It was not a hard choice to make Big Bear Lake the No.1 place on my list of Inland Empire treasures. It combines all three of the criteria I used in making my other selections: nature, culture and fun.

The lake only came into being in 1885 when the orange growers down the hill needed to tap into water from the mountains. That's why the first dam was built.

Before then, the Serrano Indians had used the place for hunting and gathering for around 2,500 years. Their name for the area was Yahaviat, which means Pine Place.

Today the water in the lake is used for recreation, and it is a huge draw. Boats of every kind enjoy Big Bear Lake, which is 7 miles long and 2 1/2 miles wide at its widest part. Fisherfolk line the banks, and swimmers venture out for a splash.

A local license plate proclaims that up here there are "Four Seasons of Fun," and that is certainly the case, although many visitors seem to ignore the two best ones and stay away during spring and fall.

There is such a variety of things to do up here that it would be easy to write a weekly column for all the months of summer. Besides the lake, there are so many different places to visit.

For instance, there's the Moonridge Animal Park, which is looking to move from its current location in about two year's time. Debbie Richardson, the director, explains that it really isn't a zoo.

"Most of our animals have been rescued," she said. "They often can't return to the wild, and so we look after them here."

There are a great range of creatures at the park, and the staff of volunteers and full timers is dedicated to caring for them.

If you're looking to find out about the local fauna and flora, then you need to stop in at the Discovery Center on the North Shore. Here, Dennis Thomas and his staff will explain where to go and what to see. They arrange tours, canoe trips and even host well-attended concerts at the amphitheater at the rear of the facility.

The local population of about 17,000 throughout Big Bear Valley is swollen on weekends and holidays, but with so many rental houses and lodges even the busiest events leave plenty of room for all. In the winter, of course, weekends bring the skiers and snowboarders. But when the snow is gone, the chairlifts are used to get bicyclists to the top, where they can ride across some of the finest vistas in the state.

It's important to remember that Big Bear Lake is very high - 6,750 feet above sea level - 1,500 feet higher than Denver! This guarantees 300 days of sunshine each year, but that sunshine is very strong, so don't forget the sunscreen - you'll need it. The same sunshine also means that once a winter storm passes through and the roads have been ploughed, the surface soon dries. Motorcyclists know this and can ride year-round.

Big Bear is something of a magnet for all types of visitors, who enjoy its fine shopping and entertainment.

Every year, Big Bear attracts several large organized gatherings. There's the Corvette rally, the antique car clubs and the wooden boat shows. There is an Octoberfest, a Renaissance Faire and the annual Old Miners' Days, all of which draw big crowds.

There are plenty of marinas on the lake where boats are for hire, and several larger craft push out hourly for tours of the water and the scenery. There is even a pirate ship (from the movie "Time Bandits") for those with slightly quirky tastes.

If you have an interest in the past, check out the museum at the east end of the runway at Big Bear Airport. Here you can see how the earliest visitors to the valley lived and eked out a living digging for gold and trapping furs.

Over the last 10 weeks, we have visited some very diverse places, from the far deserts of Joshua Tree and Edwards Air Force Base to the fun palaces of Scandia and Raging Waters. In between we've looked in on the Claremont Art Museum and the Citrus Museum in Riverside to see how man has put his mark on his surroundings. Big Bear Lake happens to be my personal favorite, but in the end, it's really just a matter of choice.

There's so much in the Inland Empire to enjoy.

NO SMOKING ends in Tenant dispute at The Crossings at Corona.

Seems not everyone is a fan of cigars...at least this is the case with the Owners and Customers of Capriccio Gelato Caffe...they are taking the fight to Azucar Cigar Lounge!!!

So much so, they have shut their doors until a dispute over drifting cigar smoke can be addressed (we assume The Crossings at Corona Management is mediating). Imagine, you have decided to plunk down $5 (or more) for a dollop of gelato times 3-4 for other family members...you are comfortably sitting, palette watering...and then smoke (not ordinary, we are talking bold-cigar smoke) smacks your nose waking you up from your gelato-dream!

Where's Al Sharpton when we need him?

Corona, CA Sierra Del Oro Storage Ctr. Grabs $12.8M

William Warren Properties Acquires Self-Storage Facility in Corona, CA

Rox Consulting Group sold the Sierra Del Oro Storage Center in Corona, CA, to William Warren Properties, a self-storage real estate company, for $12.8 million, or $92 per square foot.

The 138,800-square-foot self-storage facility at 3915 Green River Rd., in Corona was built in 2004 and is both climate-controlled and air-conditioned.

Bob Benner of Self Storage Brokerage represented the seller. William Hobin of William Warren Properties represented the buyer, in-house.

Corona (CA) "Stones, Bones and Ancient Tomes" Event on 25 October

"The Corona Genealogical Society (CGS) is proud to announce their "2nd Annual Stones, Bones, and Ancient Tomes" Genealogy Event. This event is FREE and open to the public. A combination of presentations and displays, it will be held at the Corona Public Library, 650 S. Main St., Corona, California, on Saturday October 25, 2008.

"From 10 am until 4 pm, our knowledgeable members will have display booths to assist anyone with beginning genealogy, organizing materials, related software, writing family history, restoring/preserving documents and photos, one-on-one help with Internet Searches, Family Tree Maker, Hispanic Genealogical Research, DNA, DAR and much, much more!

"Members of CGS and invited guest speakers will conduct jam-packed mini seminars on various subjects including "Why to do Family History," "Writing Your Life Story," "How-To use Family Tree Maker software," "Beginning Family History," "Cemetery Walks," "The Corona Family History Center," "Using available Corona Public Library Resources," and more.

"For more information, please go to our website: www.CoronaGenSoc.org."

Conference: IE Shadowed by Dark Economy

ONTARIO, CA-If you’re looking for the bottom of the economic downturn, you may find it here in the Inland Empire--it’s just that the “when” is another matter. Experts voiced some bleak near-term outlooks Wednesday at the third annual RealShare Inland Empire conference at the Ontario Convention Center, where more than 250 owners, investors, developers, brokers, lenders, service providers and others connected with the commercial real estate industry came to share their views and network.

“There’s no nice way to spin it,” keynote speaker Richard Green, director of the USC Lusk Center for Real Estate, said of the local economy. “The jobs picture in San Bernardino-Riverside County right now is not particularly good. People want to know when are things going to bottom. Will we have a 'V' or 'U' in terms of the recovery?”

Green was one of a host of speakers and panelists who tackled issues ranging from how the changes in the economy, the credit markets and commercial real estate have affected the Inland Empire to what industry leaders see for the immediate and long-term future. His remarks, and those of some others, stood in contrast to the upbeat news that emanated from the Inland Empire for years before the nation's subprime excesses, soaring energy costs and general economic malaise clamped down on every part of the country, even high-flying regions lining the Inland Empire.

The Inland Empire chalked up some of the nation's biggest growth numbers before the downturn. Powered by one of the country's biggest home-building booms, the Inland economy provided a fertile ground for developers to launch scores of retail, office, industrial and multifamily projects.

Now that the economy has slowed and the capital markets are in turmoil, industry leaders and other professionals in the commercial real estate industry are facing a host of questions regarding the near and long-term future of this two-county region east of Los Angeles. Chief among the questions is “When do we hit bottom?” both nationally and in the Inland Empire.

There has never been, until now, a decline in the median home prices nationally since the Great Depression, Green pointed out. The median income is falling and “financial institutions are in an environment of fear,” he added.

In the Inland Empire, existing home sales rose from a year ago, but a lot of that was foreclosure sales, he noted. The good news is “prices have come down so fast and rents have gone up enough that house prices in this region are sensible.”

Green also said educational attainment in the area is lacking. “The Inland Empire lags Southern California, it lags the state of California, it lags the United States as a whole,” he added. According to Green, the percentage of high school students taking college prep classes in Los Angeles County is 37%, slightly above California’s 35.3%, while in Riverside the number is 31.8% and in San Bernardino it’s is 25.5%.

That’s a bad sign for the Inland Empire because educational attainment is a good measure of future incomes, Green said. “This is a good projection of how incomes grow,” he said.

Following Green, a Town Hall Meeting tackled the question, "How Will the Inland Empire Fare in 2009?" The topics covered ranged from the impact of high fuel prices, the credit crisis, the housing slump, flat job growth--and how real estate professionals find and capitalize on opportunities in a confused market.

Job losses for 2008, diminished tenant demand and a generally rugged economy, “have pushed class A office vacancy to its highest level in more than two decades,” said panelist Doug McCauley, regional manager for Marcus & Millichap. He added that Marcus & Millichap anticipates vacancy to reach 15.2% by the end of the year.

Panelist Kim Snyder, senior vice president of the southwest region for AMB Property Corp., says the pinch at the pump is impacting industrial. “Fuel costs are definitely having a major impact on the industrial business in the Inland Empire,” Snyder said.

Panelist Mary Jane Olhasso, economic development director for Ontario, defended the region. “We also have a lot of industrial manufacturing, engineering related to the manufacturing process…medical manufacturing,” she said, noting that “The office sector along the I-10 corridor, that’s the future in our opinion” and that the general development plan from Vineyard to the Interstate 15 Freeway is “just phenomenal.”

She acknowledged the area is “in this bubble of negativity that’s not shared by everyone,” but that the long-term outlook for the Inland Empire is positive, she said, noting that “he who has the work force wins. And guess what? We have the work force. At the end of the day this is where people are going to live in the next two decades.”

Snyder also added his confidence in the long-term outlook for the Inland Empire: “Not only is it a good value, but it’s the best real estate product in the business.”

A new session at this year's RealShare event was a corporate perspectives panel, which included commercial real estate end users and those who represent them talking about the market from their standpoint, why they are in the market, where they are expanding as well as why and where they think the economy is headed.

Another new panel this year addressed how to improve return on investment and save money by going green. Aside from the panels above, RealShare Inland Empire's panels throughout the day included sessions on the capital markets and how investors are getting deals done in today's climate, how the cities and municipalities of the Inland Empire are catering to the diverse needs of its end-users, what it takes and costs to finance deals.

G. Ryan Smith, a senior vice president with Newport Beach-based Buchanan Street Partners, said that “It used to be if you had a heartbeat, you could get a loan. It’s a different world than it used to be.”

Harold Rose, managing director for Greystone, summed things up: “We’re back to the basics,” Rose said.

Following the final session, the event concluded with a networking cocktail hour. RealShare Inland Empire and other RealShare events are produced by Real Estate Media, the publisher of GlobeSt.com, Real Estate Forum magazine, Real Estate Southern California magazine and other publications devoted to commercial real estate.

CNBC's Jim Cramer calls the bottom for housing* Inland Empire leading the Way!

CNBC's Jim Cramer has accurately called some of the major turning points in the ongoing housing bust, and he is making another call today. He sees the bottom for housing. But here's the asterisk: *Cramer said he expects a bottom by the third quarter of 2009.

In explaining his call, Cramer cobbles together a familiar litany of signs the housing market is stabilizing: an increase in sales spurred by falling prices; a slowdown in home building; federal efforts to help troubled borrowers; and population growth that will spur household creation and demand for housing.

More, from CNBC's article on why Cramer sees signs of a turnaround:

"The horror shows that are the California, Florida and Arizona real estate markets are no longer bleeding into other areas. These heavy losses are being cordoned off, Cramer said, and different markets are evening out.

Lastly, even these horrible areas –- Bradenton in Florida and the Central Valley in California –- are bottoming. The first to fall is usually the first to return, Cramer said. He’s predicting that Miami and the Inland Empire are next."

I've complimented Cramer's calls before, and that usually encourages a number of you to cite chapter and verse of big things he's messed up. Before you jump on him -- and you're welcome to -- I'll say for the record: He was the loudest voice last summer saying, correctly, that the Bernanke Fed was behind the curve in fighting the credit crisis (this was the classic "Bernanke has no idea!" meltdown on live television). He was also one of the first talking heads to articulate just how bad the housing bust was getting in places like the Inland Empire.

Blazers Sign Four Players; one from Corona, CA

The Kamloops Blazers are pleased to announce the signing of four players upon the conclusion of training camp on Tuesday night. The club has signed defenseman Brandon Underwood, and forwards Uriah Machuga, Cole Grbavac, and Neil Landry to WHL Player Contracts and Education Agreements.

Underwood and Machuga are 16-year-olds from California who were scouted and invited to camp by long-time Blazer scout Warren Renden. "Both players came in and earned these contracts with their performances at camp. We congratulate them on taking this step to furthering their hockey careers and guaranteeing their university education," said Blazer General Manager Craig Bonner. Underwood - a product of the LA Junior Kings program - hails from Corona, CA while Machuga - who played for the California Wave - calls Norco, CA home.

Landry was a 5th round selection of the Blazers in the 2007 Bantam Draft and spent last season with the Saskatoon Blazers of the Saskatchewan Major Midget League. "We were very happy with Neil's work ethic, his speed, and his determination and we look forward to him joining the Blazer family," said Director of Scouting Ken Fox.

Grbavac is a 17-year-old forward from Calgary who played last season for the Calgary Buffaloes of the Alberta Major Midget League. "Cole impressed us with his grit and toughness. We're excited that he's chosen the Western Hockey League to solidify his hockey and scholastic futures," said Director of Player Personnel Matt Recchi.

All four players are expected to see action this weekend as the Blazers play a home-and-home series against the Vancouver Giants. The teams will meet in Ladner on Friday then back in Kamloops on Saturday.

Survivor Cast Revealed...Go Temecula, CA

GILLIAN LARSON
AGE: 61
OCCUPATION: Retired Nurse
HOMETOWN: Temecula, CA (raised in South Africa)
GILLIAN SAYS: ''I love doing all sorts of crazy things. It doesn't matter what age you are. As long as you can physically do it, do it! And hopefully they'll look at me as a mom and you know, who would like to kick their mother out of the game?''
I SAY: If there's one thing I know for a fact after 16 seasons of watching this show is "IT TOTALLY MATTERS HOW OLD YOU ARE! Good luck getting past your tribe's first elimination.

UPDATE: Off-Duty Officer Involved in Shooting...Coroners Report

Coroner's File Number: 2008-06147 - Update
Name of Deceased: ROBERT SCOTT DAY
Sex/Age of Deceased: MALE 50 YEARS
City of Residence: SANTA ANA, CA
Date/Time of Death: 08/25/2008 @1626 HOURS
Location of Death: CORONA REGIONAL MEDICAL CENTER - ER
Date/Time of Injury: 08/25/2008 @ 1543 HOURS
Location of Injury: PARKING LOT, 21501 TEMESCAL CANYON ROAD, CORONA
Next of Kin Notified (Y/N): YES
Agency Investigating: RSO/CHU
Comments: SHOT BY OFF DUTY LAPD OFFICER
Station press release
Date/Time Posted: 08/26/08 10:43 PM

UPDATE: Off-Duty Officer Involved in Shooting

Los Angeles: An off-duty LAPD officer was involved in a shooting in an unincorporated area of Lake Elsinore.

According to the Riverside County Sheriff’s Department, on Monday, August 25, 2008, at around 3:45 p.m., Police Officer Antonio Mendez, 2 years with the Department, was involved in a traffic collision with a man driving a gray Toyota Tundra. The traffic collision took place on the northbound I-15 freeway near Indian Truck Trail. After the impact, the Toyota Tundra continued to accelerate at a high rate of speed as Mendez followed. The Toyota exited the freeway at Dos Lagos Drive and pulled into a parking lot at Temescal Canyon Road. Both drivers exited their vehicle and a verbal confrontation ensued. Mendez attempted to detain the suspect and there was an officer involved shooting. A single round was fired striking the Toyota’s driver in the upper body.

Officer Mendez is currently assigned to the Office of Operations.

The Riverside County Sheriff’s Department is handling the investigation. The Los Angeles Police Department, Force Investigation Division is handling the Administrative Investigation and the California Highway Patrol is handling all traffic related investigations.

BREAKING NEWS: L.A. officer shoots man dead in Corona, CA near Dos Lagos

The officer and another motorist were involved in a traffic accident on Temescal Canyon Road in the Dos Lagos area. As they were exchanging information, the officer fired at the man.

An off-duty Los Angeles police officer fatally shot a man after a traffic accident in Corona on Monday.

Initial police reports said the man had tried to snatch the officer's 1-year-old child from the officer's vehicle, but Riverside County Sheriff's spokesman Jerry Franchville said later there was no evidence that the man had attempted to take the child, who was unhurt.

The officer was involved in a minor traffic accident about 3:45 p.m. with an unidentified driver on Temescal Canyon Road in the Dos Lagos area, authorities said. The two were exchanging information when the officer fired at the motorist. The man was later pronounced dead, authorities said.

Corona, CA: CB Sean Murray

Corona (Calif.) Santiago cornerback Sean Murray was part of one of the better secondaries in Southern California last fall, and he's seen here in highlights from his junior season...

Corona (Calif.) Santiago figures to be one of the top programs in the Inland Empire this fall, and despite losing Anthony Dye to graduation, the Sharks return some solid prospects in their secondary.
One of those is cornerback Sean Murray, who started for the Sharks on their CIF-SS Inland Division finalist team.

Murray had 96 tackles, 12 pass breakups and three picks for the Sharks, earning all-league honors.

This spring, at the UnderArmour/Scout.com Combine in Los Angeles, Murray had the third best forty, running a 4.47.

Win an autographed MILEY CYRUS Fender Guitar.

Dear Friends:
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Thanks for all your support!

CAT of Corona
170 N. Maple St., #104
Corona, CA 92880
(951) 279-2298