Ten Days of Buzz: July 21-30, 2013

Ten Days of Buzz - Rental Market News from SeattleRentals.com

 

“Coming out of the recession, investors who were burned in the past were looking for safety. Office real estate was reeling, retail was still trying to get its footing. Multifamily is a very safe investment and returns are very good.”

Jose Cruz of HFF. Commercial real estate’s safe harbor in a storm: Multifamilies, NJ.com, 7/21/13.

Nationally, the overall urban multifamily rental market is 3.2% above any prior cycle peak and still growing. As younger Americans return to the work force, demand for rental housing is expected to continue increasing over the next five years.”

Real Estate invstor Brian Kline. The Real Money is in Multifamily Development, RealtyBizNews.com, 7/22/13.

“Multifamily renovations will become increasingly popular as the market fundamentals remain or improve.”

Paul Daneshrad of StarPoint Properties. Multifamily Market: Making ‘Cents’ of Renovations, GlobeSt.com, 7/23/13.

“As of 2013, there are more mobile devices than people. 98% of renters surveyed used their mobile device at least once a week in their home search.”

Pierre Calzadilla of Trulia Rentals. Understanding the Modern Renter (webinar), Appfolio.com, 7/24/13.

“Missing households are the pent-up demand for housing that we’ve been talking about throughout the recession.”

Jed Kolko, Trulia Chief Economist. ‘Missing households’ represent big source of pent-up demand, Inman News, 7/25/13.

“Vacancy rates continue to edge down and rental rates are moving up, providing no suggestion that supply has begun to outstrip demand.”

Harvard University, in a recent study. Rents not easing despite rise in rates; owners are benefiting, Los Angeles Times, 7/26/13.

“In King County, Wash., the Right Size Parking project visited more than 200 buildings and found one parked car per occupied dwelling, on average. It also found an extra 0.4 empty stalls per occupied housing unit: almost one-third of parking was idle.”

Alan Durning of Sighline Daily. How Unused Parking Adds Up, Grist.org, 7/28/13.

“Pending home sales dropped in June thanks to rising mortgage rates, according to the National Association of Realtors. The organization’s Pending Home Sales Index, which is based on contract signings, dipped 0.4 points to 110.9 in June.”

Kent Hoover, Washington Bureau Chief for the Puget Sound Business Journal. Rising mortgage rates lead to drop in pending home sales, BizJournals.com, 7/29/13.

“This has got to be the single most high-profile IPO in the sector, and everything else that’s priced going forward is going to be priced off of this one. It’s going to be the communicator for the whole industry.”

Jim Wilson of JMP Securities. Single-Family Rental Firm’s IPO to Test Market, the Wall Street Journal, 7/30/13.

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