As any property owner knows, managing a property takes time and effort.

Regular maintenance and scheduled improvements are key to the success of owning any rental property in order to attract potential renters as well as sustain property values and a positive relationship with neighbors.

What everyone wants to know is which improvements are desirable and which ones reap the greatest benefit?

For starters, make sure the outside of the property is neat and attractive. Potential renters will judge the rest of the property by how it looks on the outside. Savvy renters realize that deferred maintenance could be a sign of who you are as a landlord. Be sure to develop short-term and long-term plans for maintenance and updates.

Historically, both minor and major kitchen and bath remodels and updates offer excellent value for every dollar spent. Balance the cost of each improvement, repair or upgrade with its overall value. Research what landlords in your area are offering in terms of improvements and amenities to ensure you are not over-improving your property and that you are featuring similar enhancements.

Updating kitchen appliances gives the kitchen a cosmetic boost and adds economical value. Newer appliances are energy saving, more efficient and less likely to require a service call. Select mid-range matching appliances with solid performance reviews. Consider installing a washer and dryer, if there is space; all-in-one units work well in tight spaces.

New countertops can offer value to kitchen and baths updates, too. Invest in durable and functional counters that have a touch of style. Countertops made of granite, slate, quartz, or another solid surface material are popular and durable.

Flooring is another upgrade that is valued. Many younger renters often prefer hardwood, laminate flooring and tile. Carpeting is less expensive per square foot, the downside is that carpet needs to be replaced much sooner than hard surface flooring.

Many renters like carpet in the bedrooms, owners will opt for carpeting the bedroom but installing hard surface flooring in the living areas. Linoleum is not preferred and does not have a good return on your investment.

Windows and roofing improvements save money for the owner and the renter. Double pane windows are energy efficient and reduce outside noise. A leaking roof can cause tremendous damage to the structure and the internal elements to the home.

Replacing doors is expensive. A reasonable alternative is replacing the door hardware – even the hinges. Over time the handles and hinges become out of date and coated with paint. Finishes in matte gold, oil-rubbed bronze and brushed satin nickel are desirable.

Quick fixes to consider

• Fresh paint. Always use neutral colors. Eggshell paint can be cleaned easily and is recommended. If you are not going to paint the trim, then at least wash the trim thoroughly before painting then tape it off.
• Increase storage in cabinets, in the garage and in the closets. Add built-in shelving or install hooks.
• New knobs and handles. Replacing cabinet hardware is an inexpensive way to make over a room.
• Updated fixtures. Install new light fixtures, ceiling fans or upgrade faucets to give the space a more contemporary look.
• Smart home technology. Install some trendy new technology such as smart locks, a smart thermostat or new Google Home devices.

A proactive, attentive property manager can help identify potential problems and needed repairs or updates. Remember, quality upgrades done professionally will result will maximize the income on your rental investment and reduce the amount of time it is vacant.

 

This article originally appeared in The La Jolla Light

The Beaumont Avenue 4th of July Parade looked very different in 1980 than it does today. Barbara and Buddy Murfey — along with four other young families in Bird Rock — started the parade when their sons Russ and Scott were toddlers. Now fully-grown adults with kids of their own, the brothers have continued the neighborhood tradition their parents helped start so many years ago.

“It was a real neighborhood event,” Scott Murfey said. “I looked at some old photos, and it’s hilarious because the parade route is really empty. Now when you look at it, it’s like a sardine can.”

“Yeah, it’s gotten a lot more bureaucratic,” Russ Murfey joked. “We’ve got to get a permit now, trash cans and porta-potties and fire extinguishers. The police come, we close the streets, and it’s just a lot more logistics.”

Over the past four decades, the parade has gone from a neighborhood quirk to a community-wide event with trophies, themes and nearly 5,000 people in attendance. This year’s theme is “Oh, The Places You’ll Go! A Dr. Seuss Experience!,” which was chosen by last year’s first-place parade winner Tom Nowaczy, who felt the choice “represented both the Bird Rock and greater La Jolla community.”

“It’s a tribute to him as a San Diego legend, and it’s about the children and how they have transformed from 40 years ago to where they are today. Children who are now working and doing all sorts of fun stuff for the community and the world.”

As kids who grew up in the parade themselves, Scott and Russ Murfey remember dressing up for themes like Huckleberry Finn and seeing real horses ride through the streets of Bird Rock for a cowboy-themed parade. They even got their family dog, a Labrador retriever named Katie, in on the fun.

“I remember getting our dog dressed up one time,” Scott Murfey said. “She had to wear this funny clown outfit with a hat.”

“The floats were really extravagant when we were younger,” Russ Murfey said. “I just always remember it being a really exciting day.”

Even more exciting to the Murfey brothers is being able to bring their kids to the parade. Both Scott and Russ Murfey have three boys.

“We see them loving it like we loved it and having lots of fun,” Scott Murfey said. “It’s something that’s really special for them as well.”

The 40th-annual Beaumont Avenue Forth of July Parade will start at 10 a.m., July 4 at Beaumont Avenue and Camino de la Costa in Bird Rock. Registration and float entry begins at 9:15 a.m. at the same location. There are no motorized vehicles allowed in the parade, and no entrance fee is required. However, donations are appreciated and needed to fund the parade. 

The first place winner of the parade will be awarded the honor to select next year’s theme, and additional trophies will be handed out to other outstanding floats. The awards ceremony and parade afterparty will take place in the cul-de-sac behind La Jolla Methodist Church with food and activities. 

For more information and to donate to the parade, visit gofundme.com/2019birdrockparade.

Read more: San Diego Community News Group – Murfey brothers look back on Beaumont Avenue Parade memories for upcoming 40th anniversary 

How the Murfey Brothers manage to keep parade spirit independent

Russ Murfey and his older brother, Scott, click through photos of previous Bird Rock Fourth of July parades on the wall monitor in their conference room at the Murfey Company, the real-estate development and building firm they co-founded in 2009.

“Check Dad out,” says Scott, 42. “How old is he in that outfit?”

George John Murfey, an attorney everyone knew as “Buddy,” is wearing a flag suit in the 1982 photo.

“He’s got a French cuff on underneath,” adds Russ, 39. “That’s the nicest shirt he owned.”

Back in 1980, Buddy and his wife, a schoolteacher named Barbara, co-founded the Bird Rock Fourth of July Parade with Candace and Brian King, Cinty and Wallace Springstead, and other neighbors. And for the brothers, who have run it since 2015, keeping it alive means keeping the memory of their parents alive. (The Murfeys died in a 2003 plane crash while visiting friends in Idaho.)

“I remember our dad would get this stereo and had to have extension cords running through the whole house so he could have this bar on the front lawn with his blender and a stereo,” Scott says.

Russ adds that his mother was pregnant with him during the first parade, which makes him “intertwined with this thing on every level.”

Although its crowd has swelled over 40 years from a couple of dozen neighbors to more than 2,000 people from all over San Diego, the parade still manages to project a small-town feel. For instance, the float judges perform their duty — naming a winner who gets to pick next year’s parade theme — from folding chairs on residents’ lawns. And these days, the extension cord everyone plugs into belongs to longtime participant Otis Benson.

 
“Even If we did nothing, I still think it would happen,” Russ says. “I think people would still build stuff and show up.”

Every year, the parade begins on the corner of Beaumont Avenue and Camino de la Costa, then marches north along Beaumont for two blocks before terminating in the parking lot of La Jolla Methodist Church, 6063 La Jolla Blvd.

“All you have to do is make sure your float can go about 600 feet before falling apart,” Russ explains, noting that his favorite parade year was when there was a circus theme and he and Russ were dressed as lions in a cage.

The brothers continue clicking through photos, laughing about the goats, the ponies and the rickety floats of parades past, built to resemble elephants, battleships and objects that are anyone’s guess. (Parade rules have always dictated that floats be homemade and not motorized.)

The start time is 10 a.m. sharp, regardless of how ready the 20 or so floats are.

“As kids, we’d be wrapping our bikes with blue and white ribbon the morning of,” Russ recalls, “which is the same as it is now. Everyone just pulls it together, puts some tassels on at the last minute and makes it happen.”

Buddy and Barbara stayed involved for six years before handing the mantle to other residents. Russ remembers getting a call from someone on the Bird Rock Community Council in 2015 asking he and Scott to reclaim it in their family’s name with only weeks to spare.

“It’s a great tradition and we’re proud to keep it going,” Russ says. “But that first year, we had no idea what we were doing.”

For instance, not one but two bands showed up to plug into Benson’s extension cord. “We didn’t know that there was a band that just, like, shows up every year,” Russ says, laughing. “So we had a battle of the bands, and they were both ticked off about it!”

One thing that’s changed since their parents’ days in charge is a strict adherence to City code, which has added layers of hassle and expense to the proceedings. “Because we put the Murfey stamp on it, we have to get a permit, street closures, insurance and porta-pottties,” Russ says. “We have to do this the right way.”

To cover expenditures each year, the brothers post a GoFundMe page. This year’s (gofundme.com/f/2019birdrockparade) has so far raised $1,925 of its $10,000 goal. (Last year’s ran at a $5,000 loss and the brothers were forced to make up the difference.)

This year’s parade — themed “Oh, The Places You’ll Go! A Dr. Seuss Experience!” — will feature two photo booths, a face-painter, multiple balloon artists and (hopefully) just one band.

 

This article originally appeared in The La Jolla Light

It is hard to imagine walking into a home or office building and not have access to an Internet connection or cell service.

Technology allows us to manage a thermostat from the opposite side of the country or be alerted of a water leak. On-site cameras monitor who is at the front door and let us know when a delivery is made.

Technology forward offices are the norm for countless industries and professionals: building engineers control the heating and cooling system from an off-site location, security cameras record activity and clients tap into the wireless Internet during meetings.

Construction industry technology provides solutions to challenging issues and problems from the preconstruction phase to developing budgets and timetables and completing commercial and residential projects.

Smartphones and mobile apps have improved communication from the job site to the manager’s office, making project collaboration easier. Meetings can be held virtually, which reduces travel time. Mobile technology for cell phones and tablets or laptops allows data to be collected in “real time”. The progress, lack of progress or any issue that surfaces can be transmitted quickly to the office or the project site.

Construction firms use data analytics to make better decisions, increase productivity, improve jobsite safety and reduce risks. Data helps to create successful predictions for project outcomes and is an important component of developing accurate scenarios when estimating and bidding projects.

In the construction industry, technology is creating a safer environment, improving collaboration and increasing productivity, too.

Materials and equipment sensors track inventory, which saves money by reducing hard costs. Drones identify on-site hazards through photos, and robots perform simple and at times dangerous tasks.

Technology aids in properly training and monitoring workers with a goal of accident prevention and a reduction of serious injuries and worker deaths. Wearable technology can be embedded into apparel and personal protective equipment, such as work boots and hard hats. This technology monitors movement and identifies dangerous situations, including potential medical concerns on the jobsite.

Another game changer is the use of site sensors, which can monitor the temperature at a construction site, track noise levels and note potential hazards.

Technology benefits both the industry and buyers in residential and commercial development. However, for technology to work effectively and efficiently, it is important that plans are included early in the design process, such as the preconstruction phase, to achieve the best results.

Murfey Company is a leader in both the commercial and residential construction and real estate development industries. For more information, please visit www.murfeycompany.com.

 

This article originally appeared in The La Jolla Light

SAN DIEGO, CA – May 22, 2019 – HFF announces it has arranged $20.5 million in financing for The Californian, a luxury residential and retail mixed-use development in the coastal San Diego submarket of Point Loma, California.

HFF worked on behalf of Murfey Company and Bishop Ventures to arrange the 10-year, fixed-rate loan through a commercial bank.  Loan proceeds were used to refinance existing construction financing.

The Californian is situated at the intersection of Kemper Street and Midway Drive adjacent to the newly completed West City Campus, a continuing education facility operated by the San Diego Community College District.  In addition, the property is two miles from the Liberty Station master-planned community and Ocean Beach and offers convenient access to I-5, I-8 and the Pacific Coast Highway.  The three-story, elevator-served building encompasses 81 residential units totaling 68,141 square feet, 3,137 square feet of ground-floor retail and 108 parking spaces.  Completed in 2018, units feature high-end, modern finishes and common area amenities include a rec room, courtyard with swimming pool, jacuzzi, barbeques and lounge areas throughout the property.

The HFF debt placement team representing the borrower was led by managing director Bryan Clark, senior managing director Aldon Cole and associate Bharat Madan.

This article originally appeared in Multi Family Press

Murfey Company and Bishop Ventures secured $20.5 million in financing for The Californian, a luxury residential and retail mixed-use development in San Diego’s Point Loma submarket. The 10-year, fixed-rate loan was arranged through a commercial bank, with proceeds used to refinance existing construction financing.

The three-story, elevator-served building encompasses 81 residential units totaling 68,141 square feet, 3,137 square feet of ground-floor retail and 108 parking spaces. Completed in 2018 at Kemper Street and Midway Drive, units feature high-end, modern finishes with such common area amenities as a rec room, courtyard with swimming pool, jacuzzi, barbeques and lounge areas throughout the property.

HFF’s debt placement team representing the borrower included Bryan Clark, Aldon Cole and Bharat Madan.

Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link.

 

This article originally appeared on Connect California

HFF announces it has arranged $20.5 million in financing for The Californian, a luxury residential and retail mixed-use development in the coastal San Diego submarket of Point Loma, California.

HFF worked on behalf of Murfey Company and Bishop Ventures to arrange the 10-year, fixed-rate loan through a commercial bank.  Loan proceeds were used to refinance existing construction financing.

The Californian is situated at the intersection of Kemper Street and Midway Drive adjacent to the newly completed West City Campus, a continuing education facility operated by the San Diego Community College District.  In addition, the property is two miles from the Liberty Station master-planned community and Ocean Beach and offers convenient access to I-5, I-8 and the Pacific Coast Highway.  The three-story, elevator-served building encompasses 81 residential units totaling 68,141 square feet, 3,137 square feet of ground-floor retail and 108 parking spaces.  Completed in 2018, units feature high-end, modern finishes and common area amenities include a rec room, courtyard with swimming pool, jacuzzi, barbecues and lounge areas throughout the property.

The HFF debt placement team representing the borrower was led by managing director Bryan Clark, senior managing director Aldon Cole and associate Bharat Madan.

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

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About Murfey Company

Murfey Company is a leader in the real estate development and building industry. The company is dedicated to providing honest and high-quality services to all of its clients, investors and partners, with a focus on positive attitude, maintaining accessibility and a commitment to excellence. Murfey Company encompasses a comprehensive group of services, driven by technology, and fueled by a passion for all things in the building industry, Murfey Company has positioned itself as a clear-cut leader when it comes to development, investments and construction; ultimately enabling you to, “Create Your Lifestyle.”

About Bishop Ventures

Bishop Ventures is a San Diego-based real estate investment and development company with extensive experience in urban infill mixed-use development. Founded by Gilman Bishop in 2007, the firm focuses on mixed-income housing affordable to low and moderate income households.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc.

This article originally appeared in Multihousing Pro

A joint venture between Murfey Company and Bishop Ventures have secured a $20.5 million loan for the development of the Californian, a luxury residential and retail mixed-use project in San Diego. The funds will refinance an existing construction loan.

The Californian is a 18-unit, the three-story apartment complex totaling 68,141 square feet with 3,137 square feet of ground-floor retail and 108 parking spaces. It features common area amenities, like a rec room, courtyard with swimming pool, jacuzzi, barbeques and lounge areas throughout the property.

An HFF debt placement team represented the borrower. Managing director Bryan Clark, senior managing director Aldon Cole and associate Bharat Madan led the placement team.

This article originally appeared on GlobeSt.com

Designing and building your own home can be just as exciting as it is can be stressful.

One strategy that reduces the impact of experiencing those challenging moments is to engage the services of a building professional that you can trust and understands your goals.

With numerous options for potential builders in Southern California, how do you identify the right builder?

Take a personal inventory

Before calling local builders and setting up consultations, it is a good idea to take a personal inventory and focus on your expectations. At this stage, be sure you have defined where you want to live, what size home is right for you and what you can afford.

Spend some time researching different types of loans that are available and how the financing is structured. Obtaining conditional approval from a mortgage banker gives you a clearer snapshot of what you can afford, too.

Give some thought to the following questions.

• Have I identified a floor plan that works well with my lifestyle?
• Am I planning to build a new home from the ground up? Or remodel an existing home?
• Which specific interior and/or exterior materials do I like? River rock for the fireplace? Hardwood flooring or travertine tile? Great room or separate formal living room? Brick? Stucco?
• Wood trim? Traditional windows or oversized windows?
• What type of landscaping do I prefer for the exterior? Is it time to build a pool? Do I want a large grassy area for the dog?

Building a partnership

When selecting a builder, you are choosing someone you can partner with who will build one of your greatest assets – your dream home.

Think about if you want to work with a contractor who offers both design and build services. Choosing one company to handle both phases of building offers many advantages. Many Murfey Company clients like working with one design builder as opposed to several professionals when communicating updates, concerns or changes.

Ask your potential builder how many years they have been in business and how many homes have they built.

Another insightful question is to ask the builder how they stand out from other builders.

Always request a list of references from previous clients. Take the time to call at least three different ones.

Reputation matters

Learn as much as you can about the companies you have decided to interview. A reputation for building quality homes is important.

Be sure to confirm that your builder is licensed in the California and the company’s insurance policies and bonds are current.

References from friends, family, real estate professionals or local developers can be invaluable when seeking a reputable builder. The National Association of Home Builders, the Better Business Bureau and local supply stores can offer guidance, too.

Take into account everyone you have had contact with at the firms you are considering from the receptionist to the estimator or the sales representative. Were they pleasant, efficient and helpful? How you are treated is likely a reflection on the company as a whole.

Murfey Company is an expert in residential and commercial construction services. For more information visit www.murfeycompany.com.

 

This article originally appeared in the La Jolla Light

Developing new projects in land-locked urban centers and dense outlying communities is on the rise, but it is in the form of adaptive reuse and infill development. Both concepts offer opportunities for development in areas where space is limited.

This article originally appeared in The La Jolla Light