Drought? What drought? There is certainly no “drought” in transactions. Since last we talked, Hoge Fenton attorneys have represented buyers, sellers, landlords and tenants in deals including 242,000 square feet. Has the lack of water impacted our real property clients? Overall, I would have to say very little. The residential market appears unfazed, but with the high percentage (many observers suggest 33%) of all-cash and investment purchases, that is probably to be expected. Office building owners don’t seem too worried, either. The only sector I’ve seen directly impacted are government-owned land and their neighbors. One of my clients owns agricultural land adjacent to a community college. The community college needed more water for a minor expansion project. Where to get that water? Condemnation! The college asserted its power of eminent domain for the right to dig a well. It will be interesting to note if we see more of this from governmental entities if the drought worsens.

Have you seen any impact of the drought on real property transactions? Let us know – we’ll report back next newsletter.

Thank you for reading.
Daniel W. Ballesteros
Editor and Managing Shareholder

To read the PDF version of the entire newsletter, click here.

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Drought Prompts New Water Use Restrictions

by Justine M. Cannon

How have Bay Area governments and water districts reacted to the drought?
read the article . . .

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2013 Ends with Five Transactions in Santa Clara, Fort Worth and Peoria

Hoge Fenton attorney Sean Cottle ended 2013 with five transactions in Q4.
read the article . . .

Plumbing Suppliers Celebrate New Law

by Justine M. Cannon

A law that took effect this January may require homeowners to install water-efficient plumbing throughout the home in order to obtain a building permit.
read the article . . .

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Recent developments in case law.

LOIs: Proceed with Caution

by Justine M. Cannon

An LOI must be drafted with caution. What are some things to be aware of?
read the article . . .

Finances and Fences

by Allison A. Manov

Fence falling down, but can’t get your neighbor to help fix it?
read the article . . .
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Upcoming events.

June 18: Silicon Valley Real Estate Breakfast, “SPUR’s Big Ideas for Achieving a More Successful
and Active Downtown San Jose,” with guest speakers Leah Toeniskoetter and Egon Terplan of SPUR San Jose.
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Archives you may find of interest.

Winter 2014 Real Estate Newsletter
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Inside Hoge Fenton.

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Meet Allie Manov

Allie is an associate in our Silicon Valley real estate litigation group and is interested in local real estate issues as someone born and raised in the Bay Area. Allie graduated from Palo Alto High School, UC Berkeley, and Santa Clara University School of Law.

Allie’s practice focuses on residential matters, handling cases ranging from protecting brokers from allegations of inadequate disclosures to bringing actions to enforce residential purchase agreements. Allie is interested in the complex aspects of real estate law and determining the most effective manner to resolve her clients’ disputes.

Allie and her husband recently purchased their first home. She certainly understands the homeowner’s perspective, now that her husband has partially flooded the kitchen, installed a hot water recirculation system, and otherwise tinkered around the house.

A general sports and outdoor enthusiast, Allie enjoys playing volleyball as well as traveling, and visiting her six-month-old nephew. You can usually find her on a volleyball court somewhere, whether at national tournaments or on the beach in Santa Cruz.

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Hoge Fenton hosted the Silicon Valley Real Estate Breakfast February 4, with guest speaker Craig Saxton of Specialty’s Cafe.

“When Dawn and Craig Saxton opened their first Specialty’s Cafe & Bakery in San Francisco’s financial district 27 years ago, they knew they had to hit $1,700 in receipts on opening day to make a profit. The Pleasanton-based chain is on track to break $100 million in revenue this year….” To read the full article by Nathan Donato-Weinstein, San Jose Business Journal, click here.

We were pleased to sponsor a hole at the CREW Silicon Valley Annual Golf Tournament. CREW (Commercial Real Estate Women) is dedicated to advancing women in commercial real estate. At the Hoge Fenton hole, a par 5, participants were asked to roll a large die that determined which club they would use to drive off the tee box, including their “hand wedge” (throw the ball). Some golfers surprised themselves by how well they could drive their putters!
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Because of the generality of this newsletter, the information provided in it may not be applicable in all situations and should not be acted upon without specific legal advice based on a particular situation.