A Newport Beach real estate and property management firm has targeted San Diego County for expansion, opening an office in San Marcos and moving into new offices in Mission Valley.
“We’ve expanded both organizationally and through acquisitions,” said Daniel Gutierrez, founder and CEO of Allview Real Estate.
Gutierrez said that Allview recently moved its San Diego headquarters to a 2,000-square-foot office in Mission Valley.
The firm in March opened a second San Diego County office in a San Marcos shopping center at 100 Rancho Santa Fe Road.
Having two offices gives Allview’s local operations more flexibility by avoiding lengthy commutes.
“Driving up and down the (Interstate) 5 on any given day, you could do two hours between South County and North County,” Gutierrez said.
He said that he expects that the overall county real estate market will slowly improve through the rest of 2023.
“There’s still a lot of positive economic tailwinds within the market itself,” Gutierrez said. “I’m hoping that, at least by early 2024, people feel more comfortable deploying capital and interest rates drop to a more positive level.”
On the residential side, Gutierrez said, “I think by this summer we’re going to see significant improvement.”
According to the Greater San Diego Association of Realtors, home prices have started to rise. As of February, the median price of a single-family home in San Diego County was $900,000, up from $849,000 in January, but still below the February 2022 median price of $910,000, according to the association.
Still, the number of homes on the market has shown little movement, increasing by 4.1 % in February.
The commercial real estate sales market has been particularly hard hit because of rising interest rates, according to Gutierrez, with commercial rates typically between 7% to a little more than 8%.
Gutierrez said that Allview is able to weather economic downturns because the firm has a business model focused on diversified investments.
“If we were strictly a brokerage, if we were strictly doing sales, I think we would be in trouble right now,” Gutierrez said. “We try to be a one-stop shop for all of our client’s real estate needs within reason.”
That includes acting as a commercial and residential real estate broker, owning and selling property, and managing property.
Of late, the property management side of the firm has been especially active, Gutierrez said.
Until the runup in interest rates, Gutierrez said that Allview had been buying up single-family homes as rental property.
Allview Real Estate
CEO and Founder: Daniel Gutierrez
Headquarters: Newport Beach
Business: Real estate and property management
Employees: 15 (in San Diego)
Contact: email@example.com; contact 949-400-4278
Notable: Allview Real Estate has offices in Los Angeles, Newport Beach and San Diego.