We sat down with Brad Perozzi about one of his – and our — favorite topics: today’s market. As Intracorp’s President of Southern California operations, he’s got his fingers on the pulse.

Q: How do you sum up the housing market in California today?

A: The housing market in Southern California is in a state of transition. I believe the local Intracorp strategy to focus our development pipeline exclusively on properties closest to the coast — or on those with other irreplaceable attributes — provides some insulation from softening market conditions. This is supported by our superior sales results over the last few months. Buyers are responding positively to the product we are offering, and we are succeeding relative to our market share. As the For Sale housing market moves toward a new equilibrium, the fundamentals for rentals improve, and so our Southern California office is concentrating efforts on more apartment developments.

Q: Where do you see the housing market in California going in the coming months and years?

A: Without exception, economic models indicate that the Southern California market is underserved annually — by tens of thousands of residential homes. So the long-term economics are good and we have a smart team of dedicated professionals willing to accept whatever the next challenge might be.

Q: Can you tell us a little bit about any exciting developments going on in California?

A: We recently broke ground on a new Class A apartment project in Fullerton, California. The project consists of 290 homes and will have a state-of-the-art amenity program. It lies about three blocks west of downtown Fullerton, which is a very unique place — a fantastic sense of place, having a tremendous combination of historic preservation and is inhabited by a number of culturally rewarding experiences in the food and entertainment world. It is also rail served, providing easy commute access for area-wide employment. We look forward to seeing it come to fruition in the next couple years.

“From a business perspective, being in a position to attract top tier talent has made life in Southern California more creative, more competitive, more innovative and of course more extraordinary.”

Q: What makes life in California so special and downright extraordinary?

A: It would be easy to point out the superb whether. But I believe there is an equally compelling offshoot. Having been drawn by the climate, there is an underlying entrepreneurial spirit that Southern California possesses. From a business perspective, being in a position to attract top tier talent has made life in Southern California more creative, more competitive, more innovative and of course more extraordinary.