Toll Changes Coming To 125

LA MESA -- It is about to get a lot cheaper to travel the 125 tollway.

Tolls for the pay section of State Road 125 will decrease by up to 40 percent in some cases along the roadway that many have considered woefully overpriced since it opened.

Effective Saturday, June 30, the San Diego Association of Governments will cut the tolls along the road it recently purchased.

Savings for customers enrolled in the FasTrak electronic tolling system will be especially dramatic. New tolls will range from 50 cents to $2.75 for FasTrak users and from $2 to $3.50 for cash and credit card users. Current tolls are 85 cents to $3.85 for FasTrak users and $2.50 to $4 for cash and credit card users.

“We are following through with our promise to taxpayers to lower tolls on South Bay Expressway,” SANDAG Chairman and Encinitas Mayor Jerome Stocks said. “We are optimistic that lower tolls will draw traffic away from nearby congested arterial streets and Interstate 805, improving overall mobility in South Bay.”

The revamped toll structure was approved by the SANDAG Board of Directors on May 25, 2012. SANDAG acquired the lease to operate the toll road in December 2011.

As a public agency whose mission is to improve mobility in the region, SANDAG’s business approach is different from that of the previous toll road operator. The new toll schedule balances toll reductions against generating enough revenue to pay for operations and maintenance, debt service, future improvements, and contingencies.

What is still not known is what effect cheaper toll prices along the 125 will mean for La Mesa. Since that road was opened, morning and evening rush hours have worsened at the 125/I-8 Interchange as more motorists have used the route to travel from Eastlake to Mission Valley along I-8 and on to the Golden Triangle via the newly expanded 52.

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Tags: La Mesa Today, La Mesa news, La Mesa traffic, SANDAG, South Bay Expressway, toll roads

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HousingWire

California pending home sales lift in January after disappointing December

Source: C.A.R.

Pending home sales rose from December’s extreme lows and posted month-to-month and year-to-year increases in January, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).

Additionally, California REALTORS® responding to C.A.R.’s January Market Pulse Survey saw more price reductions and an increase in open house traffic, compared to a year ago.

Making sense of the story:

- California pending home sales increased in January, with the Pending Home Sales Index (PHSI)* rising 26.7 percent from 70.9 in December to 89.8 in January, based on signed contracts.

- The month-to-month increase was better than the long-run average increase of 16.3 percent observed in the last six years, and is attributed primarily to seasonal factors.

- California pending home sales were up 6 percent from the 84.7 index recorded in January 2014. The yearly increase was the largest since May 2012.

- The share of equity sales – or non-distressed property sales – fell for the third straight month in January. Equity sales made up 88 percent of all sales in January, down from 89.8 percent recorded in December.

- Equity sales have been more than 80 percent of total sales since July 2013 and have risen at or near 90 percent since mid-2014. Equity sales made up 84.3 percent of sales in January 2014.

- Conversely, the combined share of all distressed property sales rose in January, up from 10.2 percent in December to 12 percent in January. Distressed sales made up 15.7 percent of total sales a year ago.

Indicative of a less competitive buyers’ market, the percentage of homes selling above asking price has dropped from its peak of 40 percent in March 2014 to 16 percent in January. The share is also down from 25 percent during the previous month and 27 percent a year ago.

Read the full story:

http://www.car.org/newsstand/newsreleases/2015releases/jan2015pending

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