Daily Business Report: Sept. 13, 2023
Single-family home price pushes
past $1 million in August
The median price of a single-family home in San Diego County topped out at $1,025,000 in August, and attached properties also set a new high-price record, according to the Greater San Diego Association of Realtors.
Despite some of the slowest home sale numbers is recent history, the median price of a detached single-family home was up more than 3 percent in August, compared to July, and 13.5 percent higher than one year ago. Attached home prices (condominiums and townhomes) were up nearly 6 percent month-over-month, hitting a new high of $677,000, which is almost 9 percent higher than a year ago.
On the other side of the ledger, sales of single-family and attached homes altogether in August were down 19 percent from a year ago. The number of active properties on the market in August was down 5 percent from July, while the average number of days resale homes are remaining on the market is hovering around one month.
Encinitas has most expensive SFH
sold in August: $16.25 million
The most expensive single-family property sold in August in San Diego County was Crescent House, a futuristic home by Wallace E. Cunningham on Neptune Avenue in Encinitas that was featured in HBO’s “Westworld.” The 5-bedroom, 6-bath masterpiece has more than 6,300 square feet on panoramic oceanfront. The property sold on Aug. 19 for $16.25 million.
A plan to guarantee community college transfer
to California public universities died. Now it’s back
By Mikhail Zinshteyn | CalMatters
It’s rare for a California bill to come back to life after enduring a quiet legislative death, but a shelved effort to help more community college students transfer to the University of California suddenly has new legs.
Spearheading this last-minute revival is bill author Assemblymember Kevin McCarty, a Democrat from Sacramento, who told CalMatters in an interview that his office spent weeks crafting the legislation with representatives from Gov. Gavin Newsom’s office.
McCarty said the proposed law, Assembly Bill 1291, has input from the Senate and Assembly legislative leaders as well. It must pass the Legislature by Sept. 14.
“This is a game changer for higher education access and for expanding enrollment through the community college transfer process,” McCarty said in an interview. “While not perfect, this simplifies more than anything we’ve ever seen.”
SANDAG holds Regional Plan workshop for North County residents
SANDAG will host its fourth Regional Plan workshop in Oceanside tonight to give the communty members in North County an opportunity to learn more about future transportation improvements being considered in their neighborhoods.
Feedback about the community’s priorities collected during the workshop will be used to draft the 2025 Regional Plan, the blueprint for transportation investments in the San Diego region over the next 30 years.
Attendees will learn how community feedback is used in the Regional Plan process, can share which improvements are important to them, and can explore upcoming transportation projects in the works. SANDAG planning staff will be available to answer questions in small groups.
The event is from 5:30 to 7 p.m. at the Oceanside Public Library, 330 N. Coast Highway.
NOAA awards $2.5 million to Scripps
researchers working on climate solutions
By Alex Fox | UCSD
Two projects led by researchers from Scripps Institution of Oceanography have been awarded nearly $2.5 million by the National Oceanic and Atmospheric Administration (NOAA) to probe the potential of climate change solutions aimed at fighting ocean acidification and removing planet-warming carbon dioxide from the atmosphere.
The projects are led by Scripps scientists Andreas Andersson and Andrew Dickson, respectively.
The awards are part of $24.3 million in funding, $14 million of which comes from the Inflation Reduction Act, to advance research on marine carbon dioxide removal strategies, making the first large-scale public investment on research in this area.
Insomnia drug helps prevent oxycodone
relapse, Scripps Research study shows
A good night’s sleep has many proven health benefits, and a new Scripps Research study suggests one more: preventing opioid relapse.
In the new study, published online in Neuropharmacology on Aug. 12, 2023, scientists gave an experimental insomnia treatment to rats experiencing oxycodone withdrawal. The researchers found that the animals were far less likely to seek out drugs again in the future—even after ending the treatment. These findings could eventually lead to therapies to help prevent opioid addiction or relapse in humans.
“These results are very encouraging,” says Rémi Martin-Fardon, PhD, associate professor of molecular medicine at Scripps Research and senior author of the study. “We hope in the future this compound may be useful for not only treating sleep disorders, but also drug use disorders.”
Holiday Bowl tickets go on sale Thursday
Sports San Diego announced that tickets for the 2023 Holiday Bowl go on sale at 10 a.m. on Ythursday, Sept. 14. Tickets can be purchased at www.HolidayBowl.com. Fans can visit the website now and sign up to receive alerts and reminders. The game is set for Wednesday, Dec. 27 at Petco Park and will feature top teams from the ACC and Pac-12. For the second year in a row, the iconic 101.5 KGB Sky Show will immediately follow the game. Ticket prices range from $40 to $225.
Qualcomm announces agreement with Apple for chip supply
Qualcomm Technologies Inc. announced that it has entered into an agreement with Apple Inc. to supply Snapdragon 5G Modem‑RF Systems for smartphone launches in 2024, 2025 and 2026. This agreement reinforces Qualcomm’s track record of sustained leadership across 5G technologies and products. Additional information is available on Qualcomm’s Investor Relations website.
San Diego Angel Conference launches SDAC VI fund
San Diego Angel Conference, a program within University of San Diego Knauss School of Businesse and in partnership with The Brink SBDC, is launching its sixth angel conference series — SDAC VI — to activate accredited angel investors and mentor promising early-stage companies. SDAC provides guidance, education, resources, and valuable connections to early-stage companies seeking angel funding, while actively engaging first-time and experienced angel investors. Register here
Beauty Lounge Medical Spa launches ‘Heritage Glow’ facial
Beauty Lounge Medical Spa, a Latina-owned aesthetic destination specializing in BIPOC treatments, and Latina Giving Circle, a local nonprofit that creates opportunities to connect and give back to the Latinx community, announced the launch of the “Heritage Glow” Facial, available exclusively during Hispanic Heritage Month from Sept. 15 through Oct. 15.
A portion of the proceeds from this facial will help Latina Giving Circle with their goal to raise $20,000 for their current grant cycle. Book appointments
Powerfuel Damas enterprise kicks off 4th year anniversary
The internationally recognized social enterprise, Powerfuel Damas, celebrated their fourth year anniversary in San Diego on Aug. 24 at Cielo Rooftop Lounge in the Gaslamp Quarter, the main sponsor. During the event, co-founders Danielle Vantini and Mayra Brito Haas announced the launch of their newest initiative, “PowerFuel House of Damas,” a global platform for women designed to offer exceptional opportunities to network, connect, collaborate, learn, and grow from anywhere.
Massage Heights expands to Encinitas
Massage Heights, a leading massage and wellness franchise, announces a signed franchise agreement in Encinitas, further growing the brand’s footprint in California. The location will provide an elevated experience to those in the community who are seeking personalized wellness treatment options. The Retreat is located at 130 N. El Camino Real in Encinitas and is slated to open by late October or mid-November 2023.
BeyondTheBlack conference set for next week
BlackLine Inc. is hosting its annual conference, BeyondTheBlack, in San Diego next week at the Manchester Grand Hyatt San Diego, uniting a global community of thousands of finance and accounting leaders to inspire, power, and guide digital finance transformation. Beyond reporting the numbers and managing risk, F&A is being asked to do more than ever before, including transforming foundational processes, optimizing business operations, and guiding corporate strategy.
Neurocrine Biosciences announces initation of Phase 1 clinical study
Neurocrine Biosciences Inc. announced the initiation of its Phase 1 first-in-human clinical study to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of investigational compound NBI-1117570 in healthy adult participants. NBI-1117570 is an investigational, oral, muscarinic M1/M4 selective dual agonist that may have the potential to treat neurological and neuropsychiatric conditions.
Rivulis and Dragon-Line announce distribution agreement
Rivulis and Dragon-Line, leaders in micro-irrigation and mobile drip irrigation pivots, respectively, announce their exclusive partnership in USA, Mexico, and Canada; with this partnership, Dragon Line is launching a new Dragon Line Mobile Drip Irrigation System based upon a newly developed Rivulis drip line product for this application. This innovative system enables the transition of Center Pivots from Sprinkler Systems to Mobile Drip Irrigation.
Monport Laser redefines tech support for laser engraving industry
Monport Laser, a leading innovator in laser technology, announced the expansion of its cutting-edge technical support services for laser engraving machines. With a wealth of technical expertise built up over generations in the laser industry, Monport now offers an unparalleled level of technical support to its customers and potential partners. The company’s team of highly trained technical experts provides personalized services, including technical answering work, technical document writing, and the production of professional technical support videos.
