Santa Monica Property Blog

MULTIFAMILY REAL ESTATE LOANS TO EXCITE YOU

By Jodi Summers

Investors know, multifamily properties have been one of the most desirable real estate 

purchases throughout the downtown. GRMs are down, and properties now have an 

impressive amount of upside potential because of recent rent concessions. Problem

has been that the loan market being what it’s been has not made getting a loan easy.

Thankfully, that’s all starting to change.

A variety of multifamily small loan packages are coming to market. Globest.com 

suggests Chicago-based Aries Capital, through subsidiary Aries Multifamily; Alliant 

Capital in Anaheim, CA; and New York City-based Centerline Capital, through its 

agency lending group. All of these companies have opened small lending programs

during the past year. It is reported that the debt typically is up to $5 million, and is 

sometimes obtained through the agencies' small lending products. 

 Prudential Mortgage Capital Co. has a unique program that addresses debt for 

unstabilized properties. Known as the Agency Gateway program, it caters to 

apartment owners looking to refinance or buy assets that currently don't 

qualify for Fannie Mae or Freddie Mac financing. Apartment properties that 

would qualify include well-located, completed or renovated properties that have 

not yet reached stabilized occupancy levels. 

"The improving economy and upward growth in employment are positives for

Multifamily properties," observes Ted Hopkins, a PMCC principal and portfolio 

manager of Agency Gateway. "We feel it's time to get in there and help multifamily 

properties get stabilized." 

Ranging in size from $5 million to $25 million, the Agency Gateway loans run for 

terms of six to 24 months, until the property is stabilized. 

The deals are considered on a case-by-case basis and Hopkins not that the 

pricing is "very competitive. That is one factor that we rely on, plus the fact that

 we know multifamily product very well. Each loan is tailored to the individual property." 

**

http://www.globest.com/news/1659_1659/insider/184943-1.html

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LOS ANGELES REAL ESTATE SNAPSHOT – SEPTEMBER 2010

By Jodi Summers

So, do you want the good news or the band news when it comes to the local residential housing market? Start with the bad, the end to the $8,000 federal tax credit incentive for buying home has ended, and hopefully, anyone who wanted in on the tax discounts got a chance to take advantage of them. That’s why when the credit expired; home sales in Southern California (houses, townhomes and condominiums) fell by 21.4% compared with the previous year. The good news? The median sales price for a home in Los Angeles County increased by +5.6%.

“The fallout from the first-time home-buyers credit continues, but in a perverse way, this is a good thing,” Dan Greenhaus, chief economic strategist for Miller Tabak + Co., notes. “Investors are getting their first ‘organic’ look at the housing market in nearly one year.”

People are buying in the good areas. SoCal zip codes in the top one-third of the housing market (obviously Santa Monica falls into that group); accounted for 30.8% of existing single-family house sales last month, up from 30.4% in June and 27.7% a year ago. Over the last decade those higher-end areas have contributed a monthly average of 33.3% of regional sales. Their contribution to overall sales hit a low of 21.0% in January 2009.

High-end sales would be stronger if adjustable-rate mortgages (ARMs) and “jumbo” loans were easier to obtain. Adjustable rate mortgages have become much more difficult to obtain the credit crunch hit three years ago, and since fixed rate mortgages have come down so impressively.

Last month ARMs represented 6.1% of all purchase loans, down from 6.7% in June but up from 3.4% in July 2009. Over the past decade, a monthly average of nearly 40% of all home purchase loans have been ARMs.

Overall, a total of 18,946 new and resale homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in July. That was down 20.6% from 23,871 in June, and down 21.4% from 24,104 for July 2009, according to MDA DataQuick of San Diego.

“It appears some of the sales that normally would have occurred in July were instead tugged into June or even May as buyers tried to take advantage of the expiring tax credits. Some of last month’s underlying technical numbers were largely flat, indicating that the market is treading water,” said John Walsh, MDA DataQuick president.

People are all in a panic because the 21.4% sales drop for residential real estate reeks of foreboding. Yes, this was the steepest year-over-year decline for Southland sales since March 2008, when sales fell 41.4%, but, let’s put it in perspective, the market lost momentum after the federal tax credit incentive expired and we are being pelted with ominous news about an unsteady economic recovery, if you were buying a home and haven’t yet, what’s the hurry? Join the legions of prospective buyers and wait-and-see, while prices continue their upward cycle.

“We do expect some sideways buying and selling to kick in, especially among homeowners who have owned for more than seven years and didn’t take out equity during the frenzy,” concludes Walsh.” You may have to ‘discount’ your self-perceived home value, but if the person you’re buying from has to do the same thing, it doesn’t matter. And you may get a spectacularly low mortgage rate.”

We’re working our way into an election, things will get better, it’s on the political agenda, and that’s why those are the sidelines have decided to wait and see.

We’re here to help you with industrial properties. Please contact Jodi Summers - jodi@jodisummers.com or 310.392.1211, and let us move forward together.

**

http://www.laedc.org/eedge/index.html#3

http://www.dqnews.com/Articles/2010/News/California/Southern-CA/RRSCA100817.aspx

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http://www.flickr.com/photos/jodisummers/4817707380/in/set-72157624556255322/

http://www.socalmultiunitrealestateblog.com/?p=715

GLOBAL DEMOGRAPHICS ARE SHAPING REAL ESTATE TRENDS

GLOBAL DEMOGRAPHICS ARE SHAPING REAL ESTATE TRENDS

Edited by Jodi Summers

Global Demographics: Shaping Real Estate’s Future offers recent research from the Urban Land Institute about the effect of global demographic change on real estate.

“Over the next 20 years, demographic megatrends — and their variations by continent — present the real estate industry with tremendous opportunity to not only grow, but to better serve the people real estate is designed for,” said David Jacobstein, senior advisor to co-sponsor Deloitte LLP ’s Real Estate practice. “Mature economies — especially growing ones — offer attractive investment opportunities, but emerging markets require vast quantities of infrastructure, as well as residential, retail, office, and hotel properties to support their burgeoning populations.”

Findings from the report include:

Aging

The aging of the world’s population is arguably the single most dramatic demographic trend today, with three key trends emerging:

v In 2006, almost 500 million people worldwide were 65 and older.

v By 2030, individuals 65 and older are projected to increase to 1 billion — equaling one out of every eight people on earth.

v The most rapid increases in the 65-and-older population are occurring in developing countries, which will see a jump of 140 percent by 2030.

Real estate implications

v Retirement housing is the primary real estate beneficiary of global aging, with the U.S. senior housing industry set to benefit from the opportunity to produce new products.

v Rapid consolidation of senior housing operators will result in more professional and cost-effective management.

v Investor interest will continue to grow because economic cycles have little effect on dementia and nursing care facilities.

v There is increased demand for affordable senior housing and senior housing options in ethnic communities.

Urbanization

As of 2007, 3.3 billion people — half of the world’s population — live in urban areas. With that number expected to increase to 60 percent by 2030, five key trends are emerging:

v One billion people live in slums, with 90 percent of this population occurring in developing countries.

v At least 133 million city dwellers in the developing world lack durable housing.

v Twenty percent of urban dwellers in emerging nations are overcrowded, with more than three people per bedroom.

v Only two-thirds of the world’s urban population has access to tap water, with only 46 percent having access in their homes.

v More than 25 percent of the world’s urban population lacks adequate sanitation.

Real estate implications of these urbanization trends include:

v Investing in infrastructure — whether new or established — is essential to the viability of long-term commercial real estate projects. Privatization of infrastructure through public/private partnerships with investment funds are becoming increasingly important, with notable examples occurring in the United States, Spain and France.

v Better land use controls should be implemented to prevent high-density, informal communities from developing and reduce outward urban sprawl because both trends present difficulties to residents in terms of infrastructure, safety and lifestyle.

v There is increased demand for housing and retail as a result of a growing workforce.

v In stagnant or shrinking populations, new construction must be viewed as replacement properties — even if that entails older building demolition to maintain vacancy rates — as has occurred in continental Europe.

v Emerging markets can leap from traditional, organic models to contemporary multi-use projects and residential communities if ground level infrastructure is established.

v The lack of mortgage availability in the emerging market is the greatest limitation on new development.

http://www.reuters.com/article/pressRelease/idUS187513+12-Jun-2008+BW2008061

http://www.topnews.in/health/regions/united-kingdom?page=26

http://totallycebu.com/aging-lecture

http://www.flickr.com/photos/lwr/165513789/

STUDIES SHOW GREENING BUILDINGS IS GOOD FOR THE BOTTOM LINE

by Jodi Summers

It’s been studied and documented, greening your office building improves your bottom line. Let us share a round of facts with you.

“Increasing energy efficiency in our buildings can increase occupancy rates, leasing prices and sale prices — all in a highly-competitive environment,” confirms a new report from Ceres and Mercer titled “Energy Efficiency and Real Estate: Opportunities for Investors”

The report also concluded that real estate managers who don’t put energy efficiency measures into their properties risk lower profits in the future.

And having said that, if you’re adhering to our statewide CALGREEN Code, you’re already ahead of the game. The California Building Standards Commission is setting minimum green-building criterion that may, at the discretion of any local government entity, be applied.

Buildings currently account for 39 percent of the energy used in the United States, 71 percent of electricity use, and 39 percent of C02 emissions. A recent report by McKinsey & Company notes that the U.S. economy has the potential to reduce annual non-transportation energy consumption by roughly 23 percent by 2020, eliminating more than $1.2 trillion in waste.

Republicans and Democrats actually agree that green real estate is important. In June 2009, legislation was approved by the House of Representatives to control climate change by limiting heat- trapping pollution and creating a trading system for pollution permits. The bill calls for cutting greenhouse-gas emissions from 2005 levels by 17 percent by 2020, and 83 percent by mid- century.

So everyone thinks this is a great idea, but how does this affect your bottom line? A 2009 Maastricht University study that showed rental premiums of 3.5 percent on “green” U.S. office properties, while Energy Star buildings had 6 percent higher occupancy rates and sold for a premium of 16-17 percent per square foot.

Here are some of the noteworthy conclusions from these reports about investing in energy efficient real estate:

- Energy efficient buildings offer a measurable financial benefit over non-green buildings, in the form of higher rent, occupancy, valuation and lower operating costs.

- No- or low-cost energy efficiency improvements can have quick and dramatic impacts on property operating costs.

- Poorly performing buildings represent an opportunity for a significant investment gain when it comes to energy efficiency.

- Additional improvements require planning, partnerships and initial investments, but can also decrease operating expenses and raise resale and leasing value.

- Investment managers and products that consider energy efficiency and green building practices are increasingly available to investors.

- Barriers to implementing energy efficiency improvements are eroding as demand grows, research on the benefits continues, and supporting products and services improve feasibility and cost-effectiveness.

Essentially, greening your building is the best thing for your bottom line. In confirmation, we’ll site a report from KPMG, which finds that energy consumption in buildings can be cut by 30 to 50 percent and still produce a positive return on investments.

**

http://www.environmentalleader.com/2009/12/22/energy-efficiency-and-real-estate-profits-go-hand-in-hand/

http://www.socalofficerealestateblog.com/?p=953

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LOS ANGELES COUNTY PROFILE

Edited by Jodi Summers

For all of you factoid junkies, here is some really interesting information about Los Angeles County compiled by the Los Angeles Economic Development Corporation-

• Los Angeles County (Los Angeles-Long Beach-Glendale Metro Division) covers 4,084 square miles, and had a January 1, 2008 population of 10,363,800 residents; an increase of 844,500 persons since 2000. The County’s population would make it the eighth largest state in the nation, just behind Ohio and ahead of Michigan. (California Department of Finance)

• A quick demographic profile of Los Angeles County indicates that: 47.3% of the population is Hispanic, 28.8% white non-Hispanic, 14.4% Asian-Pacific Islander, and 9.6% black. About 75% of the population has a high school diploma or more, while 28% has a bachelor’s degree or more. (American Community Survey 2007)

• Los Angeles County has a diverse economic base (based on the concept of “industry clusters”). Measured by 2007 employment, the leading industries are: 1.) tourism and hospitality with 456,000 workers; 2.) professional and business services with 288,000 workers; 3.) direct international trade with 281,000 workers; 4.) entertainment (motion picture/TV production) with 244,000 workers; and 5.) wholesale trade and logistics with 199,000 workers.

• The “new economy” of Los Angeles County is largely technology driven. This cluster includes bio-medical, digital information technology, and environmental technology, all of which build on the vibrant technological research capabilities of the County. Another key driver is creativity. There is a growing fusion between technology and creativity such as in video games and film production.

• Los Angeles is the largest manufacturing center in the U.S., employing 376,500 workers in 2007. The most important sectors are: apparel with 56,700 workers; fabricated metals with 49,100 workers; food products with 43,000 workers; aerospace products & parts with 38,100 workers; and search, detection & navigation products with 26,987 workers.

• International trade is a major driver of the area’s economy. The Los Angeles Customs District— which includes the ports of Long Beach and Los Angeles, Port Hueneme, and Los Angeles International Airport—is the nation’s largest. The value of two-way trade passing through Los Angeles totaled $357.3 billion in 2008, compared with $353.4 billion for second-place New York. Major investments are under way to expand the ports, LAX airport and related transportation facilities in Los Angeles County.

• Higher and specialized education is a strength of Los Angeles County, with 112 public and private colleges and universities. These range from UCLA, USC, California Institute of Technology, and the Claremont Colleges to top-rated specialized institutions, like the California Institute for the Arts, the Art Center College of Design, the Fashion Institute of Design and Merchandising, and the Otis College of Art. Medical education is also a strong point; Los Angeles has two each of medical schools, dental schools, and eye institutes, plus specialized research and treatment facilities like the City of Hope. The County’s community colleges offer many innovative programs, including culinary arts, fashion design, multimedia, and computer assisted design and manufacturing.

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http://www.laedc.org/reports/LA%20County%20Profile.pdf

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SANTA MONICA REAL ESTATE SNAPSHOT – AUGUST 2010

By Jodi Summers

First the big picture, then Santa Monica. The Los Angeles Economic Development Corporation reports that home sales in Southern California (houses, townhomes and condominiums) rose in June to 23,871 units (new and resale homes), edging up by +2.6% compared to June of 2009. On a month-over basis, June sales rose by +7.2% and were the strongest since July 2009 when 24,104 homes were sold.

Analyzing two years of supply and demand in Santa Monica, Clarus Market Metrics calculates that comparing July 2008 vs. July 2010, the number of for sale properties is up 7%, while the number of sold properties is up 19%.

In June, the median price in Los Angeles County increased by +4.7% to $335,000 and sales ticked up by +2.8%.

In Santa Monica, contrasting July 2008 vs. July 2010, the median price of for sale properties is down 10% to $ 899,000 and the median price of sold properties is up 5% to $942,000.

Southern California’s housing market is still troubled, but compared with last year, there has been a great deal of improvement. Prices and sales have been trending up the last several months, but much of that may be attributable to investors and government support. Investors accounted for 19.7% of the homes sold in June.

Locally, the strengthening market means the months’ supply of inventory is down to 4.6 months from 5 months two years ago. (Experts say 3.7 months is parity.)

“It is clear that investors are back in the market,” notes Robert Leveen, a senior vice president of Lee & Associates investment services group. “There is significant activity around any REO property. Buyers assume that the lender is motivated to sell at any price. There is sufficient demand in the marketplace and although there are discounts,

certain product will trade with multiple offers, and the discount is not as steep as many buyers would want.”

More money was spent buying homes in June than in the past two years. Still, mortgage financing (or the lack thereof) remains a pressing issue, but seems to be relaxing in Santa Monica. Brad Blackwell, a national mortgage sales manager at Wells Fargo Home Mortgage notes that, to write a jumbo loan in the coastal areas of Los Angeles and Orange counties, the lender is currently asking for a 20% down payment or that percentage of equity, down from 25% last year.

According to author E. Scott Reckard in ‘The jumbo mortgage market is beginning to thaw,’ “The reason: Wells believes high-end home prices are stabilizing in those coastal counties. But the bank still requires higher down payments in the Inland Empire and other battered housing markets such as Florida, Nevada and Arizona, where prices for jumbo-size homes don’t appear to be stabilizing”

The continued slowdown in the real estate market has been attributed to the fact that jumbo loans remain much harder to get than before the recession. Currently, borrowers typically must have a credit score of at least 700, compared with boom-era minimums in the 600s.

Another sign of the easing credit market is the increasing availability of “stated income” loans – but unlike the phat times, borrowers are asking for at least a 40% down payment.

We’re here to help you with residential properties. Please contact Jodi Summers -jodi@jodisummers.com or 310.392.1211 and let us move forward together.

**

http://www.laedc.org/eedge/index.html#5

http://www.globest.com/news/1704_1704/losangeles/300864-1.html?ET=globest:e22790:277110a:&st=email

http://southorangecounty.wordpress.com/2010/02/25/the-jumbo-mortgage-market-is-beginning-to-thaw/

http://www.santamonicapropertyblog.com/?p=2127

https://www.terradatum.com/

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THE EPA WANTS TO IMPROVE YOUR BUILDING

By Jodi Summers

Southern California Edison is one of a handful of state utilities selected to partake in the U.S. Environmental Protection Agency’s new pilot program – the Building Performance with Energy Star program. The goal of the program is similar to some of SoCal’s green building initiatives - to further improve energy efficiency in commercial buildings.

According to the EPA, energy use in commercial buildings accounts for 17 percent of U.S. greenhouse gas emissions at a cost of over $100 billion per year. Energy Star Leaders prevented the emissions of more than 220,000 metric tons of carbon dioxide and saved more than $48 million across their commercial building portfolios in 2009.

The goal of the Building Performance with Energy Star program is to help utilities and state energy-efficiency programs become Energy Star Leaders and achieve greater energy savings and reduce greenhouse gas (GHG) emissions by targeting whole building energy improvements with their business customers.

In addition to Southern California Edison, pilot program partners are Com Ed, MidAmerican, National Grid, the New Jersey Board of Public Utilities, Pacific Gas & Electric and Wisconsin Focus on Energy.

Key elements of the pilot, which follows the EPA’s Home Performance with Energy Star program, include:

* Incorporating use of the EPA’s Portfolio Manager, the agency’s online energy measurement and tracking tool, to score building performance;

* Approaching energy efficiency opportunities in the context of findings from whole building assessments; and

* Creating a robust delivery network for whole building efficiency services.

The program will allow operators of commercial properties to realize greater savings by strategically planning and implementing whole-building energy efficiency improvements. SoCal Edison and the other selected partners are expected to help business customers plan and implement energy-efficiency improvements over time, starting with low-payback measures that can create revenue to fund capital upgrades in the future.

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http://www.environmentalleader.com/2010/05/06/epa-help-states-utilities-reap-greater-energy-savings/

http://www.greenbiz.com/news/2010/05/06/epa-powers-building-performance-new-energy-star-program

http://www.cbpca.org/

http://yosemite.epa.gov/opa/admpress.nsf/e51aa292bac25b0b85257359003d925f/23d4c522b2e723da8525771a0057a925!OpenDocument

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SANTA MONICA HAS THE 4TH GREENEST BUILDING IN THE WORLD

Edited by Jodi Summers

An engineering school has published a list of what they consider to be the 50 greenest buildings in the world – and the Alamaden Tower in San Jose wins! A SoCal property came in fourth - the Robert Redford Building, home of the Natural Resources Defense Council 1314 2nd Street in Santa Monica comes in fourth. The school – Top Online Engineering Degree, does not that “Greenest is, of course, always a highly subjective and nebulous term.”

As there is no international green building code, http://toponlineengineeringdegree.com, they ask that you not consider this a definitive compilation of the latest and greatest in environmentally-friendly architecture, but rather a brief overview of some highlights instead.

1. Alamaden Tower

Location: San Jose, California, USA

Achieved platinum rating on Dec. 1, 2006

Adobe Systems is the first organization to have three platinum-rated buildings–including the Almaden Tower, pictured here–and it’s the only major corporation to have any buildings on the list. Since it started converting the buildings in 2001, Adobe has seen a 115% savings on its water and utility bills.

2. India Tower

Location: Mumbai, India

Once the construction team puts the final touches on India Tower and officially opens its doors in 2010, it will be considered amongst the tallest, greenest building in the country.

3. William J. Clinton Presidential Library

Location: Little Rock, Arkansas

Although initially built up to LEED’s silver level certification standards, the combined forces and finances of Powers of Arkansas, the Rocky Mountain Institute, and The Leonardo Academy renovated it up to platinum.

4. Robert Redford Building

Location: Santa Monica, California

Home of the Natural Resources Defense Council

CNN states that at the Robert Redford Building toilets flush themselves with rainwater — except for the urinals, which use no water at all — the floors are made of bamboo and the carpets from hemp.

5. RIT’s University Services Center

Location: Rochester, New York, USA

Sustainability highlights from the University Services Center’s operation include:

•48.6 percent energy cost reduction over industry standards for heating and cooling efficiency

•43 percent reduction in water usage over national requirements for fixture performance

•35 percent of the building’s electricity is supplied from renewable sources, including on-site solar photovoltaic panels

•33 percent recycled content of materials used in facility’s operation

6. Philip Merrill Environmental Center

Location: Annapolis, Maryland, USA

The Chesapeake Bay Foundation makes its headquarters here and includes some interesting green features such as composting toilets, bioretention, and natural lighting – among others…

7. United States Green Building Council

Location: Washington, D.C., USA

Surely, you’d expect those who administer the certifications themselves strive for the highest possible level of achievement as a way of setting an example.

8. Tahoe Center

Location: Incline Village, Nevada, USA

Tahoe Center serves as one of only five platinum-certified science laboratories in the world, playing host to the University of California Davis Environmental Research department.

9. Cundall Sydney Office Fitout

Location: St. Leonard’s, New South Wales, Australia

Engineering firm Cundall obtained the first LEED-certified platinum honor for their office fitout as the first in the Southern hemisphere.

10. East and West Towers

Location: San Jose, California, USA

Another Adobe Systems venture, Forbes states that this building sports state of the art irrigation in perfect tune with nearby weather stations.

And there are 40 more to learn about…Get the whole list @ http://toponlineengineeringdegree.com/?page_id=122

**

http://www.cnn.com/2003/TECH/science/11/17/redford.building.reut/

http://toponlineengineeringdegree.com/?page_id=122

http://www.shoreassociates.com/images/projects/adobealmaden.JPG

http://s3.amazonaws.com/konnectme-production/photos/37/medium/projectscale-3.jpg

http://www.rit.edu/showcase/index.php?id=31/

http://www.forbes.com/2007/02/08/leadership-energy-environment-lead-citizen-cx_hc_0208green_slide_3.html?thisSpeed=undefined

SANTA MONICA REAL ESTATE SNAPSHOT – JULY 2010

by Jodi Summers

Locally, our real estate news is positive. UCLA Anderson senior economist Jerry Nickelsburg, described California as, “…A divided state, as coastal California recovers while inland California, devastated by the collapse of the real estate market, continues to languish.”

We are lucky to be on the coast, as our market in Santa Monica is beginning to rise again. Comparing Santa Monica single family residence sales from Jun-08 vs. Jun-10 the number of sold properties by month is up 23%.

And what’s even more interesting, is that the price seems to be rising more quickly than sellers are realizing. Contrasting Median For Sale vs. Median Sold from Jun-08 vs. Jun-10, you’ll note that the median price of for sale properties is up 1% BUT the median price of sold properties is up 5%.

Our single family residence statistics confirm the midyear UCLA Anderson Forecast which notes that the Los Angeles regional economy will likely recover faster than the rest of the state, even though the economic recovery in California is going to climb slower than the rest of the country this year. Like the slow rise is sale prices, we are seeing a slow decline in unemployment. In California, state unemployment dropped from 12.5% in April to 12.4% in May.

Forecast director Edward Leamer, in a report titled “A Homeless Recovery,” offers these optimistic signs to show our economy is coming back, “If the next year is going to bring exceptional growth, consumers will need to express their optimism in the way that really counts - buying homes and cars…”

Measuring Jun-08 vs. Jun-10, the number of homes in Santa Monica under contract properties by month is up 22%.

We’re here to help you with residential properties. Please contact Jodi Summers – jodi@jodisummers.com or 310.392.1211 for details.

**

http://www.globest.com/news/1684_1684/losangeles/300380-1.html?ET=globest:e22415:277110a:&st=email

http://www.costar.com/News/Article.aspx?id=B4DDC752B7245C006B76C18CE64493DB&ref=100&iid=188&cid=383F14EEE265B182474DA2442BACBBBF

http://www.edd.ca.gov/About_EDD/pdf/urate201006.pdf

https://www.terradatum.com/agentmetricsonline/property_type_selection.td

ALTERNATIVE ENERGY POLL – SOLAR RULES

Edited by Jodi Summers

An overwhelming majority -92% of Americans polled - Support Solar Energy Development, according to the 2009 Schott Solar Barometer. The Schott Solar Barometer is a national survey conducted by independent polling firm Kelton Research.

The overwhelming support for solar power is consistent across political party affiliation with 89 percent of Republicans, 94 percent of Democrats and 93 percent of Independents agreeing that it is important for the U.S. to develop and use solar power.

Furthermore, close to eight in 10 (77%) Americans feel that the development of solar power, and other renewable energy sources, should be a major priority of the federal government, including the financial support needed. This sentiment also remains the same since June 2008 (77%).

If only given the opportunity to support one source of alternative energy, 43 percent of Americans would opt for solar over other sources such as wind (17%), natural gas (12%) and nuclear (10%).

Almost half of all Americans (49%) say they’re currently pondering solar power options for their home or business – and another three percent already have solar power. Among those who would like to take advantage of solar power at home or at work, seven in 10 (70%) envision they would make the change within the next five years.

The general consensus is that many Americans feel they lack information – fewer than one in five (12%) - can claim that they’re extremely informed about the subject of solar power in general. What’s more, almost three in four (74%) Americans admit they wish they knew more about solar power options for their home or business.

http://www.cleanedge.com/news/story.php?nID=6455

http://www.resourceactionprograms.org/blog/index.php/tag/southern-california/

http://saferenvironment.wordpress.com/2009/02/02/solar-power-%E2%80%93-sustainable-green-energy-to-protect-our-economy-and-environment/

http://www.geni.org/globalenergy/library/articles-renewable-energy-transmission/solar.shtml

http://www.sunandclimate.com/images/solar-power-dallas.jpg

http://www.generatormart.com/200806092224444674.shtml

http://earth911.com/blog/2007/10/15/pros-and-cons-of-solar-power/