SCV Business Journal November 2023

BUSINESS SAN TA C L A R ITA VA L L EY

O F F I CI A L P U B L ICAT IO N O F TH E SCV CH AM BER OF C OM M ER CE

J O UR NA L

BUILDING UP SANTA CLARITA VALLEY Santa Clarita Stock Index Keller Prang Econowatch and More!

NOVEMBER 2023 VOL 15 • No 11 SIGNALSCV.COM/BUSINESS

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N O V E M B E R 2023

C O N T E N T S NEWS & FEATURES 6 7 8 14 14 18 20 21 22

What’s New in Residential Real Estate Santa Clarita’s Top-Selling Homes Developing Stories The SCV’s Priciest Listing The Monthly Real Estate Report The LA Housing Forecast The List: Local Builders The Santa Clarita Stock Index Econowatch

Your one stop shop for home buying in Santa Clarita!

One location to compare all the new home developments in Santa Clarita to make the right financial choice for your family.

Your resource to compare new construction to existing homes.

FROM THE EXPERTS

With over 25,000 homes to be built across SCV, let us guide

4 Ken Keller: Strategy 11: Liberate Your Managers 16 Paul Butler: Don’t Sit, Serve!

23 Jeff Prang: A Veterans’ Tax-Savings Benefit

(818) 612-5626

info@santaclaritanewhomecenter.com santaclaritanewhomecenter.com

25101 The Old Rd, Santa Clarita, Ca 91381

SCV BUSINESS VOICES 5 9 15 19

you through the process.

Henry Mayo Audiology Associates Pierson SCV EDC

CHAMBER SPOTLIGHTS

Put 100 years of experience to work for you!

10 Local Advocacy in Action

Workers’ Compensation Business Insurance November 2023 | Vol. 15 | No. 11

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Richard Budman rbudman@signalscv.com (661) 287-5501

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28055 Smyth Dr. | Valencia CA 91355 SignalSCV. com Santa Clarita Valley Business Journal (a Signal publication), © 2023, is published monthly by the Santa Clarita Valley Signal newspaper, Paladin Multi-Media Group, Inc., 25060 Avenue Stanford, Ste 141, Valencia, CA 91355. The SCV Business Journal is intended to provide business executives with a cross-section of industry news and information, trends and statistics that impact our growing community. Information gathered in the pages of the SCV Business Journal has been collected from what are considered reliable sources, and is believed to be accurate, but cannot be guaranteed. Articles may not be reprinted without publisher’s written permission. For reprint requests, please call (661) 259-1234.

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Securities offered through Securities America, Inc., Member FINRA/SIPC. Financial Advice & Investment Advisory Services offered through PFG Advisors. LBW, PFG Advisors, and Securities America are separate entities. LBW Insurance and Financial Services participated in and won the award for the Los Angeles Business Journal “Best Places to Work 2022.” LBW did not make any solicitation payments to any of the award sponsors in order to be nominated or to qualify for nomination of the award.

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Strategy Eleven: Liberate Your Managers KEN KELLER

SCVBJ Contributing Writer

H

ere’s the cold, hard reality of business today: your company is only as good as your management team.

In his book, “Good to Great,” Jim Collins describes his five levels of leadership. Level one is a highly capable individual; level two is a contributing team member.

The third level is a competent manager and the fourth level is described as an effective leader. The highest level, five, is that of executive.

This is not about you and your rating.

This is about every person on your management team.

Let me define management team.

These individuals supervise people or manage a function. Lead, supervisor, manager, director, vice president or CXO, all fit into this grouping.

Every manager should be on a journey, or development path, to improve. Progress should always be underway, even if it is slowly. I’m willing to bet in many companies, there is little or no development taking place.

The Peter Principle is alive and well these days. The maxim states that, “if you perform well in your job, you will likely be promoted to the next level of your organization’s hierarchy. Individuals will continue to rise up the ladder until they reach the point where they can no longer perform well.”

If you wonder why your company is not achieving either tactical, short-term objectives or its longer-term strategic goals, the root cause is in the mirror. You may not have created the situation. But you are likely allowing it to continue.

Your managers should be implementing the agreed upon strategies and tactics talked about at your recent retreat or at the last manager’s meeting. Instead, your managers are far more interested in maintaining the status quo than anything else.

Any growth plan requires personal and professional development and many of these individuals aren’t willing to make the investment. You’ve asked for

Your managers should be implementing the agreed upon strategies and tactics talked about at your recent retreat or at the last manager’s meeting.

people to shift their work focus to the agreed upon objectives. It doesn’t happen. Management needs to get employees engaged on new priorities, but they lack the experience and courage to have those conversations.

Those same managers are afraid to set goals for their people, don’t know how or when to coach people, run from doing formal performance appraisals, and avoid hiring, training, and promoting people that are a threat to their position and pay.

Insecure managers shy away from challenging their people. You’ll be told that without more money, nothing will happen. No money, no rewards means no movement; your under-performing, status quo focused managers believe they are literally holding a gun to your head.

You need to flip the dynamic by raising expectations (not pay!) by liberating these managers for new employment opportunities outside of your company. You read that right.

On the other hand, your effective managers will seek out individuals who are

better than they are. Understand that nothing will kill the motivation of a great manager faster than watching you tolerate a bad one.

I’ll leave you with four questions: First, which managers put the company first?

Second, when was the last time you objectively appraised all your managers on their management skills?

Next, how many management team members have you promoted beyond their capabilities?

Finally, when are you going to do something about the under performers in your management team?

Ken Keller is an executive coach who works with small and midsize B2B company owners, CEOs and entrepreneurs.

He facilitates formal top executive peer groups for business expansion, including revenue growth, improved internal efficiencies and greater profitability. Email: Ken.Keller@strategicadvisoryboards.com.

Keller’s column reflects his own views and not necessarily those of the SCVBJ. 

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SCV BUSINESS VOICES

Recipe for Risk: When Food and Medications Don’t Mix PATRICK MOODY

Henry Mayo Newhall Hospital

D

id you know that some common foods can change the way some medications work? You and your doctor have probably discussed how your medications may interact with each other. However, your diet choices can also affect how well — and safely — medicines work.

The food and drinks you consume can change how drugs are absorbed or metabolized in your body. A medication might not work as well — or it might build up in your body. In some cases, foods can increase the effects of a medicine.

Steer clear of these food-med combos Many foods can affect how well medications work. Here are some examples of common combos to avoid, based on information from AARP, the American Heart Association and others.

Grapefruit and grapefruit juice can cause problems when mixed with certain medicines.

These includes statins, which are used to control cholesterol; certain antianxiety drugs; and some medications that treat Crohn’s disease or ulcerative colitis. Seville oranges, pomelos and tangelos may have the same effect.

Aged cheese, smoked and cured meats, and fermented foods can interact with Monoamine Oxidase Inhibitors (MAOIs), which are used to combat depression and treat Parkinson’s disease. These foods are high in tyramine. If you take an MAOI, you should also avoid other foods that contain high levels of tyramine, such as red wine, some draft beer, soy products and very ripe bananas.

Fruit juices, such as grapefruit, apple and orange juice, can make certain blood pressure drugs and antihistamines less effective.

Dairy products, because of their calcium content, can interfere with certain antibiotics.

Leafy greens and other foods containing vitamin K can reduce the effectiveness of the anticoagulant warfarin. Your healthcare provider can suggest how to balance vitamin K-rich foods with your warfarin dosage.

Bananas and other potassium-rich foods can cause heart arrhythmias when taken with ACE inhibitors that lower blood pressure.

High-fiber foods can make levothyroxine (used to treat an underactive thyroid)

and digoxin (used to treat heart failure) less effective.

Put safety on the menu To play it safe and keep trouble off your plate, ask your pharmacist or doctor about the medicines you take. In addition, carefully check the written information that comes with your

prescriptions when you pick them up from the pharmacy.

If any of your medicines interact with foods and drinks, pay attention to ingredient lists. For example, if you are trying to limit a certain vitamin, you’ll want to watch out for fortified foods.

See MOODY, page 20

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New Homes in the Santa Clarita Valley

BY SANTA CLARITA VALLEY BUSINESS JOURNAL STAFF

T

here’s no shortage of new homes in the Santa Clarita Valley.

Williams Ranch figures to be the top-selling new home community in 2023 at the pace it’s going, with almost two homes being sold a week, and 15 floor plans to choose from that families have been finding very desirable.

FivePoint Valencia has begun to grow and thrive, now counting hundreds of families among its community, which also is poised for huge growth.

Tri Pointe Homes’ beautiful Skyline Ranch project has already moved in a number of families and continues to move along at a developing pace, as they say.

The Toll Brothers development in Valencia, Tesoro Highlands, has a number of quality luxury homes on the market.

And just a little farther down the road on the west side, Sterling Ranch Estates received approval this month for another long-awaited new batch of homes in Castaic.

Williams Ranch

Williams Ranch by Williams Homes offers families a chance to choose from seven single-story and eight two-story floor plans, which are all set on spacious, pool-sized lots.

Dan Faina, chief marketing officer and Southern California Division president for Williams Homes, said these options will help the development meet families’ desire for expanded amenities.

The location is a nice bonus, too, as the homes will be “nestled between the Sierra Pelona Mountains, Castaic Lake Recreation Area and directly adjacent to Valencia’s Commerce Center,” according to the builder’s website.

FivePoint Valencia

The west side continues to be a huge growth area for the Santa Clarita Valley, but one that will also keep residents’ desire for open space and the environmental sustainability in mind, according to officials with Five Point Holdings.

“FivePoint Valencia is now home to more than 1,000 families. Future plans for the community include new homes,

The Campana Collection offers single-family homes in a hilltop setting in Santa Clarita. COURTESY LENNAR

parks, trails, commercial/retail, recreation/entertainment and numerous public amenities,” according to Eric Morgan, vice president of communications for Five Point Valencia. “Approximately 10,000 acres will be permanent, protected open space. Homes include Level 2 EV chargers, solar power, energy-efficient appliances and droughttolerant landscaping. FivePoint Valencia is poised to be one of the nation’s first mixed-use communities to reach net zero greenhouse gas emissions, helping California meet its climate goals.”

Skyline Ranch

Tri Pointe Homes’ new Skyline Ranch development also has a range of options and prices for the market, which as you might imagine, offer some breathtaking views of the SCV as well. The prices range from the low $700s to mid-$1 million range, according to the development’s website.

The sizes of the properties also range from two bedrooms and around 1,500 square feet to seven bedrooms and more than 4,300 square feet.

Tesoro Highlands

In July, Lennar, one of the nation’s leading homebuilders, announced the grand opening of the Campana Collection in the scenic Tesoro Highlands

master-planned community.

“Campana offer three two-story floor plans ranging from approximately 3,104 to 3,919 square feet, showcasing the ultimate high-end design: open layouts for easy entertaining, well-equipped kitchens, decks, and spacious owner’s suites, while select plans will offer bonus rooms,” according to the company’s announcement.

Sterling Ranch Estates

The newest entry to the market was approved in October, 222 homes in Val Verde, not far from Williams Ranch on the west side of the SCV. In addition to the homes, the project is expected to bring seven public facility lots, six homeowners association lots and two access road lots on about 114 acres, with an “offsite open space conservation area” adding another approximately 38 acres to the project area.

“With (the county’s approval), we look forward to bringing new housing, neighborhood-serving commercial, parks and trails to this area, and we are committed to work cooperatively with our neighbors as we do so,” said the project’s principal, Hunt Williams, after it was approved by the L.A. County Board of Supervisors. 

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Williams Ranch Remains the Top-Selling New-Home Community in the Santa Clarita Valley

W

illiams Ranch located in Southern California’s Santa Clarita Valley reports another strong sales quarter demonstrating that home shopper confidence and a continued interest in homeownership remains robust along the West Coast.

Securing 63 new home sales since January 2023, Williams Ranch has sold 135 homes to date since the masterplanned community opened in September 2022. The current sales pace of 1.68 homes per week thus far in 2023 marks Williams Ranch as the top-selling new home community in the Santa Clarita Valley according to the Ryness Report, a national provider of weekly sales activity of new homes.

“While we have seen a minor slowdown in traffic sourcing, our prospect activity remains strong with buyers that are wanting and needing to purchase a home now,” said Daniel Faina, chief marketing officer, and Southern California division president for Williams Homes.

“Despite today’s interest rates, the market shows resiliency with buyers gaining acceptance of current economic condi-

tions and an understanding that there is no reason to wait to buy the home they want – especially with the shortage of available homes currently on the market.”

There is no question that the new home market has benefited from low inventories in the resale market, and the pent-up demand in Southern California is a driving factor for the sales success at Williams Ranch. Buyers are finding this master-planned neighborhood is everything they have been looking for and more. The community boasts wide open spaces and spectacular views that create a brilliant backdrop for the 15 floorplan designs offered and showcased in an unprecedented $20-million model home complex. The range of home designs includes seven single-story and eight twostory floorplans, set on spacious, pool sized lots with some allowing for RV and toy garages, guest suites, and with many homes situated behind a gated entry.

“Williams Ranch is in a strong position to capitalize on demand trends with a very unique offering of homes in a desirable location unlike any other new home community on the market today,” contin-

ued Faina. “Our architectural diversity, multi-generational appeal, and expanded community amenities are drawing buyers from across the region. I personally invite all Southern Californians to spend an afternoon with us to tour the model homes where I guarantee that they will not only find their dream home but will enjoy seeing a wide range of design inspiration both inside and out.”

Several home designs at Williams Ranch include an accessory dwelling unit, or ADU, which has become a sought after housing feature in California since 2019 when ADUs became allowable under new laws designed to help combat the region’s housing shortage.

Williams Ranch’s ADUs offer a unique living space for extended family or a highly beneficial rental unit being a completely self-contained home that features its own exterior entry, ample living space, one bedroom, one bathroom, full kitchen, laundry, and closet space. Faina noted that homeowners who choose to rent their ADU may benefit from Santa See WILLIAMS, page 17

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The Cereal Box, What’s New at Vista Canyon and More DEVELOPING STORIES

BY PERRY SMITH

SCV Business Journal Editor

T

he city of Santa Clarita’s offerings continue to change and evolve based on recent updates from the city of Santa Clarita’s Planning Division.

Although one of the most recent destinations added to the city’s ever-growing list of cafe-style eatery offerings may have you feeling like you’re right back where you started — because the cafe concept is based all around the breakfast meal.

Jason Crawford, the city’s director of community development, likened The Cereal Box to Cold Stone Creamery, but with your favorite cereal options.

“You can pick from a bunch of d different kinds of cereal and different sorts of toppings,” he said, adding the business was approved to go into Sutter Point Plaza at 27737 Bouquet Canyon Road (the shopping center that formerly hosted a Telly’s until it became yet another Starbucks.

And speaking of going back where you started (not really, actually), Sbarro’s, the New York-style pizza and pasta counter, is returning to Valencia Town Center’s food court, where it previously had a location.

In terms of new restaurants, Mi Cafecito Pupuseria is opening a location at the Canyon Country shopping center at Soledad Canynon Road and Sierra Highway, alongside the Vallarta supermarket.

The restaurant at 18519 Soledad Canyon Road serves the traditional Central American dish, and while there’s no website yet, it does have a Tik Tok account, @micafecitoscv, that offers glimpses of what’s to come — and it looks delicious.

There’s also a few hidden locations that are sure to gain traction in the community, especially now that its local transportation options have greatly expanded on the east side.

The Vista Canyon Multi-Modal Center’s opening at Vista Canyon means one of the better-kept secrets over there, C & A Cafe and Creamery, won’t be for long.

An accounting firm, Krycler, Ervin, Taub-

The 31.8-acre Wiley Canyon project site is located east of Interstate 5 and west of Wiley Canyon Road, between Hawkbryn Avenue and Calgrove Boulevard.

man & Kaminsky, and The Edge, a local martial arts studio, are just a few of the growing options for those who live and work there.

As far as conversation about bigger developments, there also seems to be little update so far on Sand Canyon Country Club owner Steve Kim’s effort to build a five-star resort on the east side of the city.

Kim has described his efforts as something to match what the finest resorts in O jai and Santa Barbara might have to offer.

Crawford said the city’s Development Review Committee has yet to offer its complete response to Kim’s request for a new review of his proposal, but he also said once that happens, there’s likely to be some more back-and-forth with the applicant before it goes before the city’s Planning Commission. That process is expected to begin again before the end of the year.

The Wiley Canyon project is also expected to be before the Planning Commission for a first hearing before the end of the year.

We’ve been talking about the plans here in Developing Stories since at least February, and there’s been quite a bit of community feedback about the plans on

social media based on what’s been discussed so far.

The project calls for a mixed-use nearly 32-acre site located east of Interstate 5 and west of Wiley Canyon Road, between Hawkrbyn Avenue and Calgrove Boulevard, near a residential neighborhood.

What’s been discussed so far in city documents is a 277,000-square-foot, four-story senior living facility with 130 independent living units, 61 assisted living units and 26 memory care beds; 379 apartment units, ranging from two to four stories; and nearly 9,000 square feet of commercial space.

Rumors posted on social media about a new See’s location for the west side of the Santa Clarita Valley are, tragically, only somewhat true.

A permit application found on LA County’s website indicated that See’s was planning to do business at 24943 Pico Canyon Road in Stevenson Ranch. However, the beloved chocolatier is planning to wrap up that business by the time Santa Claus is making his rounds.

“Referral for See’s Candies, holiday store. Opening 11/8/23 to 12/24/23, for retail candy sales of prepackaged product,” according to the permit. 

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SCV BUSINESS VOICES

The Latest in Hearing Aids: Why Go Rechargeable?

DR. KEVIN BOLDER

L

AuD, Audiology Associates

ike any other technology, hearing aids are always evolving to bring you better performance, additional features, and more convenience. One of the latest revolutions in hearing technology is the introduction of rechargeable hearing aids.

Hearing aid wearers may choose a rechargeable option for several reasons. Rechargeable hearing aids do not rely on typical disposable batteries, and they can save you money in the long-term as batteries can cost up to $150 per year. They also have a less significant environmental impact.

Disposable batteries typically last 3-7 days, depending on the type and size of the hearing aid you have. For many people, it is preferable to put the hearing aids on a charger at night,

rather than worry about changing batteries every few days. Depending on the model, some rechargeable hearing aids have the option to use traditional batteries as a back-up just in case.

Because it’s as simple as charging your phone, rechargeable hearing aids can also be a great option for those with limited dexterity and/or vision who have trouble inserting batteries themselves. Most chargers are small and portable, so they can fit easily into a bag for travel. Some chargers do not even need to be plugged into the wall at all times.

Most of today’s rechargeable hearing aids will give you a charge that lasts approximately 16 hours, and some will give you a partial charge depending on how long you leave them

on the charger. The length of the charge can also be affected by your use. For example, if you are streaming media to your hearing aids all day it could cause the power to drain sooner than if you were to spend your time in a quiet environment.

To learn more about rechargeable hearing aids, make an appointment with Audiology Associates at 661-284-1900. Kevin Bolder, Au.D and John Davis, Au.D are two of the best in Santa Clarita and San Fernando Valley. Visit our website at www.AudiologyAssociates.net or stop by our office located at 25425 Orchard Village Road, Ste 220, Santa Clarita, CA 91355.

We are hearing healthcare excellence! 

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39th Annual Oak Tree Golf Classic Our 39th annual Oak Tree Golf Classic was held at Valencia Country Club in October. We thank all our generous sponsors for helping us make the tournament a success. Special thanks to Chiquita Canyon Landfill for being our Title Sponsor once again.

Congratulations to all our winners: Closest to the Pin – Tom Cole. Longest Drive Female- Shannon Mee. Longest Drive Male – Zach Johnson. Chipping Contest – Dr. Chris Raigosa. Mega Putt – Mitzi Like Third Place – Jason Lane, Chris Pelch, Matt Rivera and Kevin Honaker Second Place – Kirk Baker, Gary Werner, Johnny Werner and Arif Harsolia

Our Best Spirit Winners – Chris Jones Becki Robb, Karen Bryden and Sean Robb

Congratulations to our First Place Winners – Zach Johnson, Jerrod Ferguson, John Vance and Niall Shaffery

Golfers at the Mega Putt Contest

Tom Cole, Mayor Jason Gibbs, Ken Striplin and Jerrid McKenna

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N O V E M B E R 2023

Business Councils

2023 Board of Directors

As the third largest city in Los Angeles County, the Santa Clarita Valley Chamber of Commerce represents over 65,000-member workforce. We realized we can better serve our business community by having six Business Councils, allowing members to work on issues specific to their area. Our Councils provide a channel for our members to be involved in solving problems, discussing issues, and implementing special projects and events for the benefit of the area being served. Participation offers members the opportunity to prioritize

CHAIR OF THE BOARD

and bring a focus to the business needs of the area, and to take community leadership roles

BECKI ROBB - PRINCESS CRUISES

in addressing these needs. It can increase members’ business network, and provide stronger representation on area issues. Also, since area councils exist as industry-specific, par-

EXECUTIVE COMMITTEE

ticipation provides an opportunity for area-specific networking with others doing business.

HUNT BRALY - Poole Shaffery

LATINO BUSINESS ALLIANCE BLACK BUSINESS COUNCIL

ANDREA CARPENTER - Logix MARISOL ESPINOZA - Southern California Gas Company Michael Grisanti - Hedman Partners, LLP

Our LBA council works to promote Latinoowned business as well as relevant issues facing our Latino business community. In addi-

DR. CHRIS RAIGOSA - KAISER PERMANENTE

tion the LBA helps to educate businesses on

SANDY SANCHEZ - FivePoint

how to enhance a company’s business efforts

JOHN VANCE - Vance Wealth

with Latino customers and other Latino-

BOARD OF DIRECTORS JENNIFFER ABBOTT - HUMAN ELEMENT COMPANY KIARA BROWN - CALIFORNIA INSTITUTE OF THE ARTS KAREN BRYDEN - SCV Locations STEVE COLE - SCV Water Agency Tom COLE - City of Santa Clarita MATT DIERCKMAN - Colliers International TROY HOOPER - Kiwi RESTAURANT Partners PATRICK MOODY - Henry Mayo Newhall Hospital DR. IZU OKPARA - Omni Wound Physicians HENRY RODRIGUEZ - State Farm Insurance LINDSAY SCHLICK - SchlickArt Video & Photography ROCHELLE SILSBEE - Southern California Edison Eric Stelnick - LBW Financial & Insurance Services DI THOMPSON - THOMPSON REALTY ADVISORS/eXp REALTY DR. DIANNE VAN HOOK - College of the Canyons DENNIS VERNER - Burrtec KARINA WINKLER - Holiday Inn Express

owned businesses.

GOVERNMENT AFFAIRS The Government Affairs council meets to discuss policy decisions on a local, county, state and federal level. As a member, you are encouraged to attend a meeting and have your voice heard throughout the SCV and take a stance on pertinent issues relative to the business community or your industry in particular.

SMALL BUSINESS Small Businesses are at the core of our Chamber’s membership and are the backbone of our economy. The Chamber offers a variety of educational and networking programming to help your small business thrive.

The council focuses on three main objectives: Advises the SCV Chamber on small business related issues, programming and networking opportunities; Supports the Chambe’s “Retail Walks” with elected officials; and helps promote the nationwide “Small Business Saturday” program which highlights small businesses on the Saturday after Thanksgiving.

Our Black Business Council works to inspire, empower, and promote the economic growth and sustainability of black businesses, entrepreneurs, and professionals within the Santa Clarita Valley. In addition it serves as a catalyst for engagement, awareness building and consultation; eliminate barriers to opportunities and addresses issues unique to black owned businesses, professionals, and their families.

API BUSINESS COUNCIL Our Asian Pacific Islander Council works to identify and advance API-owned businesses and business leaders in the Santa Clarita Valley. The API Council develops programs and offers resources to strengthen the API business community. The purpose of the API Council is to build and foster community among API-owned businesses to create a positive impact in where we work and reside.

NON-PROFIT COUNCIL The SCV has a strong philanthropic community with more than 100 locally-based nonprofit organizations that help our community thrive. Our non-profits are a key reason why Santa Clarita is a great community and always looking towards a better future. The council provides business resources for our local non-profit leaders to help them connect, grow and learn about valuable information so they can successfully meet their organizations mission and goals.

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Celebrating SCV Businesses From celebrating new businesses opening or marking special occasions and achievements, we continue to be honored being part of your celebrations.

We encourage everyone to come and support our new businesses. All our grand opening/ribbon cuttings are free and open to everyone to attend.

Assemblywoman Pilar Schiavo congratulates leadership of Valley Breast Care on their grand opening in October.

Photo credit: Joie de Vivre Photographie

Please join us at our upcoming grand opening at The SCV Hub Food Hall and welcome them to our community.

Kris Hough, Field Representative for State Senator Scott Wilk congratulates leadership of Valley Breast Care on their grand Congratulations to Valley Breast Care on your grand opening and

opening. Photo credit: Joie de Vivre Photographie

celebration in October! Find out more at www.valleybreastcare.org.

Thank you to all that came to support them! Photo credit: Joie de Vivre Photographie

Do you have a grand opening or anniversary coming up?

Email us at hello@scvchamber.com for details about hosting a ribbon cutting ceremony.

N O V E M B E R 2023

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UPCOMING EVENTS Cafe con Leche November 7 | 9:00 am Join our Latino Business Alliance for their Café con Leche networking event! Enjoy coffee and pastries and meet with other Hispanic business owners and entrepreneurs. Jason Crawford from the City of Santa Clarita will be providing updates on new projects.

We have partnered with Northeast Valley Health Corporation on their holiday toy distribution. We encourage you to help us fulfill a child’s holiday wish by bringing a new toy.

Business After Hours Mixer at 360 Executive Suites November 15 | 5:30 pm Our final mixer of the year! Join us at 360 Executive Suites for your last chance to make connections and wrap up conversations before the end of the year. Food will be catered by The Habit Food Truck.

Our business after hours mixers regularly have more than 150 business representatives and community leaders attending. Remember to bring your business card for the chance to win some great prizes!

InfluenceHER November 28 | 4pm Are you prepared for life’s unexpected events that can leave women uneasy or ill prepared?

Join us for a dynamic panel discussion with Robin Finch, Denise Lite, Melanie Meyer and Steffanie Stelnick. The panel features accomplished women sharing insights on financial security, emergency planning and emotional resilience. These outstanding leaders of their industries will have you

To find out more information about these events or any other upcoming programming and to register go to:

start thinking about your emergency preparedness

www.SCVChamber.com/Events

plan as a businesswoman, a partner, and a moth-

or scan the qr code to the right

er. They will equip women with practical tips to navigate life’s unexpected challenges. Join us for an evening of empowerment and connection.

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N O V E M B E R 2023

SRAR: ‘Robust’ Prices Pair With Declining Activity in Market Report

BY SCV BUSINESS JOURNAL STAFF

T

he Southland Regional Association of Realtors issued its monthly report on the housing market in the Santa Clarita and San Fernando valleys.

The organization’s monthly report is gleaned from one of the country’s largest listing databases, and highlights the unique aspects of the local market, according to officials.

The numbers for September indicate “a reduced pace in market activity, but residential prices remain strong,” according to the October report.

The pricing data also speaks to the area’s continued overal appeal and value for the SCV, according to SRAR officials.

“Santa Clarita Valley continues to be

a focal point for SRAR members, buyers and sellers,” said Anthony Bedgood, chair of the SRAR’s governing board, in a statement. “Despite the evident reduction in market activity, the stable pricing demonstrates the valley’s intrinsic value and desirability.”

The lack of any sort of help from interest rates could also be a lingering factor.

The median list price for the residential market in October’s report was $830,000, according to the SRAR — $875,000 for single-family homes and $580,000 for condominiums.

That’s up slightly for condos in the year-to-year comparison for the same time period, as the price for condos was almost $556,000 in 2022. That figures up from 2022 for single-family home price ($850,000) and overall

home sales ($799,000).

A few of the numbers that stand out in the data, according to the experts, is the way listings are down, 247 for September, which is a 7% drop in the year-over-year total. But what really stands out is the 39% drop in the year-over-year sales figure, which was 247 homes in the October report, as the number of active listings (379), which is down 45% over the same time last year.

Paul Cauchi, CEO of SRAR, reiterated Bedgood’s point about the value.

“While we’ve witnessed a sharp decline in available listings this August,” Cauchi said, “the resilience of median prices reinforces Santa Clarita Valley’s unique appeal. Santa Clarita continues to be a desirable place to live, work and play.” 

Westridge Home Among SCV’s Priciest Listings

BY PERRY SMITH Senior Staff Writer

The Santa Clarita Valley’s priciest new listing comes from the west side again, a home on Oak Savannah Court in Westridge, which is being listed by Kathy Bost, who leads the Kathy Bost Team at Remax.

Bost’s six-bedroom, sixbathroom beauty of a listing comes in at almost 6,100 square feet that sits on a lot a little bigger than a third of an acre just west of The Old Road.

“This is a truly one-of-akind custom home with exquisite recently remodeled finishes,” Bost wrote in an email to the SCV Business Journal, mentioning a few of the amenities, like a “gorgeous pebble tech pool and spa, custom barbecue/bar with refrigerator and seating area,” and a great location at the end of the cul-de-sac at 25505 Oak Savannah Court.

“The grandeur begins with an arched porte-cochère and

This 6,083-square-foot Westridge custom-designed home features six bedrooms, six bathrooms and a spacious entertainer’s yard. PHOTO COURTESY ZILLOW

a stone driveway leading to a 4.5-car garage,” according to the property’s listing on Zillow. Sweeping views from the two balconies overlook the 17th hole of The Oaks Club at Valencia. “The wainscoted foyer boasts a two-story, multifaceted custom ceiling with an elegant chandelier and a curved wrought-iron staircase to the upper level.”

Dual Sub Zero and Wolf appliances accent a spacious, recently renovated kitchen, with “ample storage in the butler’s pantry,” the listing notes.

“The main level features a study with a bay window, custom built-ins, an in-law suite with private bath and laundry room, and a beverage cooler with French door sliders to the backyard,” it continues.

“The well-manicured landscape features European gardens, fountains and a recently refinished pebble-tech saltwater pool and water feature.”

The asking price for the home is $4,399,999 as of Oct. 27.

For more information about the listing or to contact the

Realtor for an appointment, Kathy Bost, 661-803-3114 or Kathy@HomesSCV.com Each month the SCV Business Journal highlights new listings at the top or near the peak of the market in the Santa Clarita Valley each month, which is shared by the Southland Regional Association of Realtors.

The SRAR is the largest group of regional Realtors with the largest listing database in the SCV. For more information about the SRAR, visit SRAR.org. 

15

N O V E M B E R 2023

SCV BUSINESS VOICES

2023 Year-End Strategies

Are all the pieces of SCV BUSINESS VOICES your financial future coordinated into one holistic plan?

IVY PIERSON

A

Founder and Investment Advisor Representative Pierson Wealth Management

s the final weeks of 2023 approach, a window of critical planning emerges with opportunities to optimize tax savings and avoid potential pitfalls. Consider taking advantage of the strategies outlined below before the December 31 deadline: Required Minimum Distributions (RMDs): IRA owners age 73 or older must fulfill their RMD obligations to avoid a hefty penalty on the funds not taken.

Qualified Charitable Distributions (QCDs) Embrace tax-free QCDs that can not only satisfy RMD requirements but also permit individuals aged 70½ or older to transfer up to $100,000 taxexempt to charitable causes from their IRA. Roth Conversions Given historical trends of rising tax rates, contemplate converting your Roth into a traditional retirement account now to preempt higher future tax burdens.

Leverage Net Unrealized Appreciation (NUA) The NUA strategy can result in significant tax savings by utilizing long-term capital gains rates, as opposed to ordinary income tax rates on company shares.

Split IRAs into Separate Accounts Beneficiaries must split inherited IRAs into separate accounts by December 31 to benefit from distribution rules. However, it is important to note that establishing these accounts with the custodian may take time.

Update beneficiary forms Although there is no set deadline for updates, the end of the year is a good time to review beneficiaries in the wake of life events that may have occurred.

For information on how these year-end strategies can help your specific situation, contact us at (661) 297-7566 or visit www.

PiersonWealthManagement.com.

Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC CA Insurance Lic#0I32305), member FINRA/SIPC, a broker/ dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. Ivy Pierson CA Insurance Lic#0C92500. For a comprehensive review of your personal situation, consult with a tax or legal advisor. Neither Cetera Advisors LLC nor any of its representatives may give legal or tax advice. Converting from a traditional IRA to a Roth IRA is a taxable event. A Roth IRA offers tax free withdrawals on taxable contributions.To qualify for the taxfree and penalty-free withdrawal or earnings, a Roth IRA must be in place for at least five tax years, and the distribution must take place after age 59½ or due to death, disability, or a first-time home purchase (up to a $10,000 lifetime maximum). Depending on state law, Roth IRA distributions may be subject to state taxes. 

Ivy Pierson, CEP, MBA

Founder & Investment Advisor Representative

Prosperity with Confidence Contact us today to book a 20-minute introductory phone call to discuss your situation, goals and needs. We look forward to helping you pursue your goals and objectives.

28368 Constellation Rd Unit 396, Santa Clarita, CA 91355 (661) 297-7566 (661) 263-9958

PiersonWealthManagement.com Securities and advisory services offered through Cetera Advisors LLC (doing insurance business in CA as CFGA Insurance Agency LLC), member FINRA/SIPC, a broker/dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. CA Insurance Lic #OC92500

16 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

N O V E M B E R 2023

Boards of Directors—Don’t Sit, Serve!

BY PAUL BUTLER

SCVBJ Contributing Writer

O

ver the years, I’ve been asked to join various boards of directors, and I’ve noticed there are two types of board members—those who sit and those who serve.

I have found that those who sit irritate those who serve.

Being in the latter category, I’ve often chosen to step down from a board or decline offers to join a board if there are more sitters than servers.

For nearly two decades now, I’ve heard many local nonprofit executive directors right here in my own backyard complain about a “disengaged board of directors” or “board members not pulling their own weight.” Again, I’ve observed it’s because there are sitters occupying seats that those who want to serve could fill.

So, how does someone become a sitter? My experience has convinced me that those who sit on boards and make little to no contribution are involved for the wrong reasons. Their motivation, (and I use that word lightly as

there’s often very little motion), is self-centered rather than mission-centered. Sitting on as many boards as possible may look good on their civic resume, but they’re too busy running between board buffets to actually accomplish anything meaningful.

Conversely, those who serve on boards are driven to action by their passion for the organization’s mission. Those who serve choose carefully where they wish to make a contribution of their time, talents, and treasure. Their motivation is outside of themselves, whereas those who sit are all about their own self-centered agenda.

As the late great John Wooden once said, “Never mistake activity for achievement.” I have found this axiom rings true when I observe those who sit on boards. The sitters are always late, always scrambling, and their common response when asked why something

hasn’t been done as a result of the last meeting is because they were “busy,” “super-busy,” and, if they really want to avoid personal accountability, “super-crazy-busy.”

On the other hand, I’ve observed that those who serve are always early to meetings; they do what they said they would do as a result of the last meeting; they listen well to others and speak clearly and concisely, always with a servant’s heart.

So, if you’re involved with a board of directors, may I encourage you to take a long look in the mirror and ask yourself whether you truly are being of service to the organization? Have you taken on too many commitments, and would it be better to prune the branches? Are you sitting on a board for ulterior motives, and is your lack of execution hindering rather than helping? Are you occupying a seat that would be better taken by someone who truly wants to serve?

While we’re on the subject of boards, I’ve also noticed that some organizations, especially non-profits, have a tremendously large number of board members. Have you ever wondered why this is? Is there that much to do beyond the people who are actually on the organization’s payroll?

The motivation for having very large boards is simply money. It’s a “pay to play”

model. It’s not uncommon to require board members to pay thousands of dollars annually simply for the privilege of having their headshot on the website and being honored in their sitting at the entity’s banquets. And there’s the dichotomy — large boards paying huge sums, but not actually achieving much in the process of all this giving and receiving. There is an economic exchange, but I see little return on investment.

In summary, my experience has proven to me that highly effective boards are 100% populated by people who serve. Such servants are willing to bring their time, talents, and treasures to support an organization whose mission they believe in. It’s the true north that the entity was built upon that inspires such servants to work incredibly well together. Anyone who wants to merely sit often doesn’t feel comfortable with all the focused activity. Such people should step down from their sitting position so someone else can step up and serve.

Finally, I have found the most optimal board size to be in the range of five to 10 people. Any fewer than that, and there’s too much on each person’s shoulders. Any more than that encourages passivity. No one has time for that.

Paul Butler is a Santa Clarita resident and a client partner with Newleaf Training and Development of Valencia (newleaftd.com). For questions or comments, email Butler at paul.butler@newleaftd.com. 

N O V E M B E R 2023

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 17

WILLIAMS

Continued from page 7

Clarita’s high demand for rental homes which are averaging more than $2,000 per month for a one-bedroom.

Opening its massive model home super center just one year ago, Williams Ranch clearly demonstrates its unique attributes against other new home communities currently on the market today in Los Angeles County, and in the Santa Clarita Valley, including Valencia. All 497 singlefamily residences are being built by local, Santa Clarita-based builder and developer, Williams Homes, which understands the vast potential to bring a new sense of community living to the Santa Clarita Valley.

Every home at Williams Ranch is set on a spacious lot site ranging from 7,000 to 23,000 approximate square feet. The community features seven single-story homes, offering a range of interior living space from approximately 1,736 to 3,141 square feet, with three to four bedrooms plus den or office, depending on the chosen floorplan. Additionally, there are eight two-story home designs, providing approximately 2,243 to 4,522 square feet of interior living space and accommodating up to five bedrooms.

Those interested in homes that feature an ADU, guest suite, or RV garage, are encouraged to visit the Williams Ranch Welcome Center to check availability by plan and home site. Several homes are currently available for quick move-ins, with several more scheduled to be movein ready soon. Pricing begins in the mid $900,000s.

All homes come with the latest advanced technology, be it standard or optional. This includes Tesla Solar, a Ring video doorbell, a Honeywell WiFi thermostat, dimmable LED task lighting, a tankless water heater, and more. Detailed information about standard and optional home features can be found at the Williams Ranch Welcome Center.

Upon completion, Williams Ranch will feature a full offering of resident-only amenities including a recreation center with a community building, junior Olympic swimming pool, spa, indoor and outdoor gathering spaces, and amphitheater. Acres of vineyards and citrus

orchards will intertwine throughout the community along with several pocket parks, and a County Park which will be accessible to residents and non-residents alike. To date 10,000 vines have been planted on 4.5 acres adjacent to the main entry of Williams Ranch. Grape varieties planted include Mourvèdre, Syrah, and Grenache. Paso Robles vintner, Kesselring Vineyard Consulting & Services, will steward the vineyards with the first grape harvest to be in 2025 or 2026.

Safety remains a primary concern with today’s homebuyers and Santa Clarita ranks among the safest cities in America for the last three years according to Smart Asset, an online source for consumer-focused financial information.

Additionally, Santa Clarita landed in the top five for 2022 when compared to 200 of the largest cities across the country adding to the appeal of Williams Ranch.

The Williams Ranch Welcome Center is open daily and is located at 28801 Hasley Canyon Road in Castaic, CA. For information, phone 661-344-9200 or visit www. williamshomes.com.

Beyond Williams Ranch, Williams Homes is building several new home communities in Southern California that are currently open for sale offering a wide range of homeownership opportunities. In Ventura County, pre-sales are underway at Finch Ranch, a mas-

terplan community in Piru offering a variety home designs with a community park and walking paths. In Los Angeles County, Valley Villas in North Hills is also pre-selling two- and three-story gated townhomes for the best of in-town living. In Torrance, the single-family homes of South Bay Village are nearing sell-out.

And in California’s low desert, Williams Homes three communities now selling include the single-family homes of Campanile in Cathedral City, Point Happy in La Quinta, and Palo Verde in La Quinta which are all set behind gated entries.

For more information about communities now selling or coming soon throughout the Western States, please visit www.williamshomes.com.

ABOUT WILLIAMS HOMES

Williams Homes is a residential homebuilder headquartered in Los Angeles, California that specializes in building high-quality new homes for families.

Founded in 1996, the privately-owned company has built thousands of homes during the last two decades in the Western United States, including communities in California, Montana, Idaho, and Texas. Committed to insightful design and superior craftsmanship, Williams Homes continues to set a new standard in homebuilding and ultimately, the customer experience. For more information, visit www.williamshomes.com 

18 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

N O V E M B E R 2023

Los Angeles Housing Market Forecast 2023-2024

BY MARCO SANTARELLI

Special to the Business Journal

L

et us look at the price growth recorded by Zillow, a leading real estate marketplace. The Los Angeles housing market has long been a topic of interest due to its dynamic nature and diverse neighborhoods. For those keen on understanding the trajectory of the Los Angeles housing market, Zillow provides valuable insights based on comprehensive data analysis.

Let’s explore the current situation and the forecasted outlook for the housing market in Los Angeles.

Current Market Snapshot

As of August 31, 2023, the average home value in the Los Angeles-Long Beach-Anaheim area stands at $891,328.

Over the past year, there has been a slight dip of 1.4% in home values. Homes in this region typically go to pending in around 13 days, indicating a relatively fast-paced market.

Market Forecast

Looking ahead, Zillow’s 1-year market forecast predicts a 4.0% increase in home values by August 31, 2024. This forecast suggests a positive trajectory, anticipating a rebound from the recent dip in home values.

Sale Dynamics

Examining sale dynamics, the median sale to list ratio as of July 31, 2023, was 1.006, indicating that homes were typically sold slightly above the listed prices.

Additionally, a significant 57.2% of sales were transacted over the list price, illustrating the competitive nature of the housing market.

Time on Market

The median days to pending, as of August 31, 2023, was 13 days. This indicates that homes are moving swiftly, underlining the demand in the market and the willingness of buyers to act promptly.

Market Outlook: Are House Prices Going Up?

Considering the 1-year market forecast, which predicts a 4.0% increase in home values, the housing market in Los Angeles is showing signs of recovery and growth. While there has been a slight dip in home values over the past year,

the forecast suggests a positive shift in the coming year, with prices expected to rise. This anticipated rise in home values points towards a favorable outlook for prospective sellers and a potentially competitive market for buyers.

In summary, the housing market in Los Angeles is poised for growth, and the current forecast indicates an upward trend in home values. Prospective buyers and sellers should stay informed and work closely with real estate professionals to make informed decisions.

Is Los Angeles Housing Market Going to Crash?

Some of housing analysts say that home prices in Los Angeles and Orange counties will fall by the middle single digits in 2023, while home prices in the Inland Empire will fall by the high single digits over the same time period. They anticipate that prices will continue to fall on a regional and national scale in 2024 but at a considerably slower rate, followed by a little increase in 2025.

Do buyers have any advantage? Is it the right time to buy a house in Los Angeles? This is a never-ending question with no definitive answer. Buyers believe it is not a very good time to buy a home in Los Angeles due to rising mortgage rates and home prices. On the other hand, it is a good time to sell so you can expect more inventory due to increasing seller optimism.

More houses are expected to be listed in the coming months which may bring down the pace of appreciation to some extent. Affordability is a big issue in Los Angeles County as nearly three in four residents can’t afford to buy a medianpriced home in the area. According to

HousingWire, an index that combined median income and median home prices made Los Angeles the least affordable city in the country, and several younger residents said they were concerned they will never be able to afford a house.

Home shoppers are leaving Los Angeles for cheaper metros, the most popular being Las Vegas

Is real estate a good investment in Los Angeles?

Investing in real estate in Los Angeles for the long term can be an attractive option, but it’s essential to carefully evaluate the market and consider several factors before making such a significant financial commitment.

Los Angeles has historically been a sought-after real estate market due to its desirable location, diverse economy, and strong demand for housing. Here are some key points to consider:

Market Stability

Los Angeles has a relatively stable real estate market with a history of consistent, long-term appreciation in property values. This stability is driven by factors such as the city’s status as an economic hub, its thriving job market, and the limited supply of land for new construction.

However, it’s essential to note that like any market, there can be fluctuations, and past performance is not indicative of future results.

Property Appreciation

Over the long term, Los Angeles properties have typically appreciated in value.

While there can be short-term fluctuations, investing with a long-term perspective can allow you to benefit from See HOUSING, page 22

19

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SCV BUSINESS VOICES

SCVEDC Welcomes New VP of Workforce & Economic Development

BY THE SANTA CLARITA VALLEY ECONOMIC DEVELOPMENT CORPORATION

A

s some of our readers may know, there have been some internal staffing changes these past few months for long-standing members of the SCVEDC. Our prior Director of Business Assistance for 7 years, Sue Arellano, retired back in May and was replaced by Dr. Jey Wagner. This September also saw our previous President and CEO Holly Schroeder making her own career transition after leading the SCVEDC for over 10 years. With Dr. Wagner taking over the President and CEO role for Holly, we are pleased to announce that veteran economic developer Ondre Seltzer will be taking over Wagner’s prior role as VP of Workforce and Economic Development.

Mr. Seltzer joins the Santa Clarita Valley Economic Development Corporation, following his groundbreaking work as the Economic Development Manager for Falcon Field Airport.

His achievements include attracting domestic and international businesses, facilitating the development of electric vertical take-off and landing (eVTOL) infrastructure, establishing a 63-acre tech center, negotiating over $300 million in new investments, transforming Falcon Field Airport into the second busiest general aviation airport in the United States. In addition to his role at Falcon Field Airport, he served as a member of the steering committee for Tech London Advocates.

“The SCVEDC is excited to welcome Ondre to our team and the community,” said Dr. Jey Wagner, President & and CEO. “He brings a wealth of experience in corporate business development, Foreign Direct Investment (FDI), and government relations, offering invaluable support to global companies exploring expansion opportunities across a diverse range of industries, including Semiconductors, Renewable Energy, FinTech, Manufacturing, Aerospace, and Infrastructure, among others.

Prior to this role, Mr. Seltzer held the position of Vice Consul at the British Consulate-General in Los Angeles, representing the UK’s Department for International Trade (DIT) as part of the West Coast technology team. In this capacity, he identified trade and investment opportunities for both UK and U.S.-based Fortune 1000 companies. With a background in local economic development and international investment, Mr. Seltzer has contributed to projects across various regions, states, and countries

including Europe, Asia, Israel, California, Washington, Oregon, Arizona, Nevada, and Utah.

During this time, his collaboration with senior diplomatic and business leaders resulted in the successful realization of high-value projects exceeding $1 billion in value.

Mr. Seltzer holds a Bachelor of Arts degree in Media Business with a minor in Sociology from the University of Arizona.

The Santa Clarita Valley Economic

Development Corp. is a unique private/public partnership representing the united effort of regional industry and government leaders. The SCVEDC utilizes an integrated approach to attracting, retaining, and expanding a diversity of businesses in the Santa Clarita Valley, especially those in key industry clusters, by offering competitive business services and other resources. For more information, visit SCVEDC. org. 

20 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

N O V E M B E R 2023

COC’s Employee Training Institute $749,785 Workforce Training Contract

BY DIANNE VAN HOOK

Chancellor, Santa Clarita Community College District/ College of the Canyons

D

riven by our commitment to serve our local businesses and continue to help them pursue increased capacity and updating of the skills of their employees, exciting things are on the horizon at the College of the Canyons Employee Training Institute!

ETI has received a $749,785

contract from the California Employment Training Panel to offset the costs of customized training offered to businesses in the SCV, enabling them to maintain a workforce that is trained and up to date with current skill requirements.

As part of a two-year reimbursement contract, this generous funding is available for qualifying employers, reducing the cost of upskilling their workforce and increasing their ability to remain competitive.

This ETP will have a direct positive impact on local businesses in our community.

With this latest contract, we’ve

MOODY

Continued from page 5

Alcohol and medication can be a dangerous mix If you take prescription or nonprescription medicine and you drink alcohol, you could be putting your health at risk.

Some prescription medications can produce unwanted effects when mixed with alcohol, according to the National Institute on Alcohol Abuse and Alcoholism (NIAAA).

Alcohol can even be dangerous when combined with nonprescription medicines, such as aspirin, acetaminophen and allergy medications.

Alcohol can: Change how long medicines stay in your body.

The level of medication might be too low or too high.

now brought more than $9 million in ETP funds to Santa Clarita Valley employers!

The ETP program’s core mission is to ensure that businesses operating within California have access to a well-trained and skilled workforce. ETP achieves this by reimbursing the cost of employer-centric training that helps employees.

How can the ETI help your business?

ETI assists employers with the development of critical elements in training program design including establishing the need for training, occupa-

Change how medicines affect your body. Your medicine might not work as well. Or its effects might get stronger. That can be dangerous.

At the same time, medications can change the way your body handles alcohol, which could increase the effects of alcohol. Or it could have other effects.

When alcohol and medications interact, problems can range from minor to fatal.

The NIAAA recommends that you talk to your doctor about alcohol and drug interactions.

Ask if you should avoid alcohol. Find out what could happen if you mix your medicines and alcohol. Finally, don’t skip doses of prescribed medication.

For information medications and other health topics, visit library.henrymayo.com. 

tions to be trained, estimated number of trainees, training curriculum, training location, identifying the subject matter expert trainers needed and developing benchmarks for the progression of training.

The institute also works with employers to develop customized training plans and schedules by assessing the employer’s training needs, requesting funding for training, identifying training topics and curriculum, determine the best days of the week for training, and processing all agreement requirements to proceed with ETP funded training programs.

ETP funding supports most categories of training including business skills, leadership skills, continuous improvement, manufacturing skills, medical skills, advanced technology, computer skills, and other topics. The industries ETP supports are considered critical to California’s competitive economy such as manufacturing, construction, transportation and warehousing, healthcare, and many other important industry sectors.

To learn more about how ETI can help your business grow, visit canyonsworkforce. org/eti. 

T he L ist : H ome B uilders company

ceo

address

website

Comstock Homes

Robert Comstock

2301 Rosecrans Ave., Suite 1150, El Segundo 90245

comstockco.com

CBRE

Bob Sulentic

24305 Town Center Drive, Valencia 91355

cbre.com

FivePoint

Lynn Jochim

25124 Springfield Court, Valencia 91355

fivepoint.com

JSB Development

Jim Backer

27451 Tourney Road, No. 250, Valencia 91355

jsbdev.com

KB Home

Jeffrey T. Metzger

25152 Springfield Court, Suite 180, Valencia 91355

kbhome.com

Lennar

Rick Beckwitt, Jon Jaffe

28723 Calle de la Paz Drive, Valencia

resourcecenter.lennar.com

Richmond Homes

Larry Mizel

27105, W Sage St, Valencia 91354

richmondamerican.com/california/los-angeles-new-homes/ valencia

Toll Brothers

Doug Yearley

19125 Merryweather Drive Santa Clarita 91350

tollbrothers.com

Tri Pointe Homes

Doug Bauer

28701 Lambent Way, Santa Clarita 91351

Tripointegroup.com

Williams Homes

Lance Williams

24911 Avenue Stanford Santa Clarita 91355

williamshomes.com

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 21

N O V E M B E R 2023

Santa Clarita Stock Average

Santa Clarita Stock Average Below you will find a list of local Santa Clarita-based or prominent Santa Clarita companies used for our averages. Each month we will take the average of all these stocks and show that number. Tracking that number from month to month will give you a window into how our local company’s stocks are performing.

Last month the index was 3,223.32 and the average price per share was $107.43 This month the index is 3,063.75 down 159.57 or 5 % For an average share price of $102.13.

Company

TICKER

industry

10/28/22 price

9/30/2023 price

10/31/2023 price

Amazon

AMZN

Retail

103.41

128.92

127.71

Auto Nation

AN

Auto dealers

106.10

148.94

130.54

Bank of SoCal

BCAL

Banking

16.15

14.49

13.39

Bioventus

BVS

Biomedical

7.40

3.30

3.24

Boeing

BA

Aerospace

143.84

189.31

178.35

Boston Scientific

BSX

Biomedical

43.16

52.50

49.52

California Resources

CRC

Energy

43.63

54.24

52.04

Carnival

CCL

Entertainment/leisure

8.94

13.59

11.17

CBRE

CBRE

Commercial real estate

70.75

72.12

66.15

Comcast

CMCSA

Communications

31.95

44.27

39.60

Costco

COST

Retail

510.87

567.90

543.03

Disney

DIS

Entertainment media

105.95

80.94

79.25

Five Point Holdings

FPH

Home developer

235

2.92

2.87

Home Depot

HD

Retail

298.64

300.85

276.50

IQVIA Holdings

IQV

Laboratory services

208.16

293.24

179.94

ITT Inc.

ITT

Aerospace/manufacturing

76.97

97.05

92.38

KB Homes

KBH

Home developer

29.41

56.15

43.15

Kohl's

KSS

Retail

30.49

20.96

21.79

Lennar

LEN

Home builder

82.04

111.68

103.79

Lowes

LOW

Retail

198.73

206.38

183.63

McDonalds

MCD

Restaurants

274.52

258.59

256.75

Otsuka Holdings

OTSKY

Pharmaceutical

15.95

17.45

16.30

Quest Diagnostics

DGX

Laboratory services

144.59

119.74

127.68

Six Flags

SIX

Entertainment/leisure

22.16

23.55

18.87

Sodexo

SDXAY

Home / Food services

18.40

19.86

19.46

Sonova Holdings

SONVY

Biomedical equipment

67.85

46.40

46.09

Textron

TXT

Industrial

68.50

77.89

75.25

Tri Pointe Homes

TPH

Home developer

17.15

27.09

24.44

Walmart

WMT

Retail

142.51

159.49

161.39

Woodward

WWD

Aerospace/manufacturing

92.80

123.51

119.47

22 · S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L

HOUSING

N O V E M B E R 2023

is an investor’s paradise:

Economic Diversity

Continued from page 18

the city’s overall property value growth.

The Housing Shortage Dilemma

Los Angeles is no stranger to the housing shortage dilemma. As its population continues to grow, driven by a robust job market and desirable lifestyle, the housing market struggles to keep pace. The consequences are multifold, affecting both renters and potential homeowners. High demand has led to escalating rental costs and home prices, making housing less affordable for many.

Investor’s Paradise: The Demand-Supply Gap

For real estate investors, this gap between demand and supply represents a significant opportunity. The housing shortage has created a strong demand for rental properties, offering the potential for attractive rental income and return on investment. Here’s why Los Angeles

Los Angeles is renowned for its economic diversity. The region’s economy spans various sectors, including entertainment, technology, aerospace, healthcare, and tourism. The presence of major corporations, such as those in the entertainment and tech industries, has been a key driver of job creation and economic growth. The city’s thriving tourism industry, centered around attractions like Hollywood and Disneyland, also plays a significant role in generating revenue and job opportunities.

Population Growth

The Los Angeles metropolitan area’s strong economy and job market have attracted a steady influx of residents. The allure of the city’s lifestyle, cultural diversity, and range of amenities has made it a magnet for people from various backgrounds.

How to Invest in Real Estate in Los Angeles?

Investing in real estate in Los

Angeles involves several steps: 1. Research the Market: Begin by thoroughly researching the Los Angeles real estate market. Analyze historical property values, rental trends, and the performance of different neighborhoods.

2. Financial Preparation: Ensure your financial situation is in order. This may include saving for a down payment, understanding your credit score, and securing financing.

3. Property Selection: Choose the type of property you want to invest in, whether it’s a single-family home, multi-family building, or another type. Consider your investment goals and budget.

4. Location Matters: Location is critical in Los Angeles.

Research neighborhoods and select areas with potential for growth and strong rental demand.

5. Property Management: Decide whether you’ll manage the property yourself or hire a property management company. This choice may depend on the number of units and

your experience.

6. Legal and Tax Considerations: Understand the legal and tax implications of real estate investing in Los Angeles. Consult with professionals if needed.

Single-Family Rental vs.

Multi-Family Investment

When considering whether to invest in single-family or multi-family properties, it’s essential to weigh the pros and cons of each:

Single-Family Rental: Typically lower initial investment.

Easier property management.

Predictable rental income.

Multi-Family Investment: Multiple income streams.

Potential for higher overall rental income.

More management responsibilities.

The choice between the two depends on your investment goals, budget, and willingness to manage the property. Both can be viable options in the Los Angeles market. 

Economic Development Corporation 26455 Rockwell Canyon Road | UCEN 263 | Santa Clarita, CA 91355 | (661) 288-4400 | www.scvedc.org

Econo Watch Santa Clarita Valley

Q3 2023

Q2 2023

Q2 2022 Sq Ft

Commercial Vacancy Rates Office Space

22.72%

21.43%

,848,037

Industrial Space

3.60%

2.60%

5,529,999

Total Avail SF

28,378,036

Total Marked Sq. Ft. Vacancy Percentage: Office Space - as a % of Vacancy

10.04%

10.16%

N/A

Industrial Space - as a % of Vacancy 89.96%

89.84

N/A

Building Permits

Sep ‘23

Aug ‘23

Sep ’22

New Commercial/Industrial Building Permits

4

10

1

Commercial Tenent Improvements/Alterations

29

26

26

New Residential Units (SF) - City of SC

9

27

1

Unemployment Rates

Sep ‘ 23

Aug ‘23

% Change

Santa Clarita

5.8%

5.6%

3.57%

Palmdale

7.3%

7.2%

1.39%

Lancaster

7.4%

7.3%

1.37%

Glendale

5.8%

5.8%

0.00%

Los Angeles County

5.8%

5.8%

0.00%

State

4.%

4.6%

2.17%

Housing Stats

Sep ‘23

Aug ‘23

Sep ’22

SCV Average Home Price

849,700

909,500

868,200

SCV Average Condo Price

622,400

581,700

564,300

SCV Home Sales

1,918

1,208

1,941

SCV Condo Sales

563

504

764

SCV Avg. # of Days on Market (SF)

26

24

33

SCV Single Family Home Inventory

287

277

532

S A N TA C L A R I TA VA L L E Y B U S I N E S S J O U R N A L · 23

N O V E M B E R 2023

The Veterans’ Tax-Savings Benefit

BY JEFF PRANG

Los Angeles County Assessor

A

s we prepare to give thanks this November on Thanksgiving Day, it’s also important to remember those that have served our great nation in the military and honor their courage and valor on this Veterans Day. Veterans Day is a federal holiday and is celebrated this Nov. 11. Veterans Day, as most of you know, is a tribute to military veterans who have served in the U.S. Armed Forces. It’s not to be confused with Memorial Day, which honors those who died while in service. Veterans Day honors all military veterans, including those still with us.

As a quick reminder, Veterans Day evolved from Armistice Day, which was proclaimed in 1919 by President Woodrow Wilson, celebrating the signing of the Armistice that ended World War I. That occurred on Nov. 11 at 11 a.m. and formally recognized the “11th hour, of the 11th day, of the 11th month” in 1918 that ended the war.

In 1954, the holiday was changed to Veterans Day to honor all veterans in all wars.

We still celebrate this day, recognizing the tie with WWI, meaning we celebrate Veterans Day the same day every year, Nov. 11, regardless of the day of the week it falls. If Veterans Day falls on the weekend, it can be celebrated on the Saturday or Sunday and on the following Monday.

Since it’s a federal holiday, a bank holiday and a state holiday, federal and state employees get the day off from work.

Not only am I visiting with you about Veterans Day but to remind you that we have tax savings’ programs available for veterans and if pending legislation passes, the exemptions could be expanded.

Here’s how it works: If you are a single veteran with assets of less than $5,000, a married veteran with assets of less than $10,000, or an unmarried surviving spouse of an eligible veteran, you may apply for the Veterans’ Exemption of $4,000, which is applied to the assessed value of your property.

If you are a disabled veteran, the exemption is even greater.

If a veteran is blind in both eyes, has lost the use of two or more limbs, or is totally disabled because of injury or disease incurred in military service, you may be eligible for a Disabled Veterans’ Property Tax Exemption. You may be eligible for an exemption of up to $150,000 of the assessed value of your home. The Veterans Administration must certify the veteran’s disability.

Unmarried surviving spouses of certain deceased veterans may also qualify.

Now to the legislation, Senate Constitutional Amendment 6 (SCA6), which would allow veterans to claim both the Homeowners’ Exemption and the Veterans’ Exemption or the Disabled Veterans’ Exemption. As a reminder, the Homeowners’ Exemption reduces your assessed value on your primary residence by $7,000. That translates to an actual reduction of $70 to a homeowners’ tax bill. As of now, a veteran cannot claim the Veterans’ Exemption or the Disable Veterans’ Exemption and the Homeowners’ Exemption. If SCA6 continues to move through the legislative

that you will do. Our Democracy is built on your service.

My office offers other taxsavings programs as well and the Veterans’ Exemptions are just two examples. For additional property tax relief programs, visit assessor.lacounty. gov/exclusions-tax-relief or call 213-974-3211.

process and becomes law that will change. I will keep you posted on any developments.

We owe a tremendous debt to our veterans, and I say thank you for all that you’ve done, all that you do and all

Los Angeles County Assessor Jeff Prang has been in office since 2014. Upon taking office, Prang implemented sweeping reforms to ensure that the strictest ethical guidelines rooted in fairness, accuracy and integrity would be adhered to in his office, which is the largest office of its kind in the nation and provides the foundation for a property tax system that generates $20 billion annually. 

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Williams Ranch

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Speak to a community manager today to learn more.

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