Market Intel

Economy

Here’s how strong the Phoenix housing market looks

A fifth straight month of shrinking inventory year-over-year triggered several November records in the 11-year history of the RE/MAX National Housing Report: fewest Days on Market at 49, fewest Months Supply of Inventory at 3.3, and the highest Median Sales Price at $257,000. But what does that mean for the Phoenix housing market and Phoenix home buyers and sellers?  Phoenix residents are experiencing a rise in home sales prices. Here is a quick snapshot of

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Multifamily Investment

Freddie Mac’s Guggenmos Looks Ahead to 2020 for Multifamily

Apartment rents are still on the rise. Rental communities across the country are still fully occupied on average, despite years of new construction. But just a few months ago, the financial markets flashed warning signs of a possible recession in 2020. How long can the good times last? What challenges and opportunities will apartment investors find in 2020? Multifamily Executive asked Steve Guggenmos, vice president of research and modeling for Freddie Mac Multifamily, to share

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Multifamily Investment

These Markets Will Be the Best Bets for Multifamily Investments in 2020

As high-net-worth (HNW) investors and family offices mull next year’s opportunities in commercial real estate, they might want to keep the multifamily mantra in mind. For several years, industry players have consistently preached about the attractiveness of multifamily properties for HNW investors and family offices. Indeed, a recent NREI survey shows that, once again, multifamily ranks as the most in-favor asset class among HNW investors . For 2020, the multifamily sector should remain a rich

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Multifamily Investment

Do Not Worry About Multifamily’s Cooling Demand

LOS ANGELES—First let’s say at the outset that CBRE predicts 2020 will be a very good year for commercial real estate. Transaction volume and cap rates are expected to remain stable, it says in a new report. But the year will not be without its challenges. One of which will be some risk of oversupply in Class A multifamily. It predicts that the overall vacancy rate will edge up by 20 basis points to 4.5%

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Multifamily Investment

Five 2020 Trends to Consider in Multifamily Investment

Cautious optimism is the proverbial tone many multifamily investors are taking as the start of a new decade is only a few weeks away. The whispers of a slowing economy have turned to a dull roar, but according to recent IMF reports, the U.S. economy is expected to steadily grow 2.1% over the next year. As economic pessimism lifts the outlook looks rosier for multifamily investment with continuing job growth. Without indication of a significant

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Development

Must-Have Multifamily Amenities to Attract Residents

Not long ago, multifamily developers competed to provide wow-factor amenities that would attract residents—from movie theaters and rock climbing walls to dog washes and bike repair stations, flashy property features were sure to grab the attention of prospective tenants. But the sentiment is shifting, and developers are now focusing on amenities that are more practical. “Amenities continue to be an important part of the lifestyle desired by millennials,” says David Ward, incoming chairman of the

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Development

Why Multifamily-Hotel Hybrids are Gaining Traction with Developers

The thought of vacant units can strike fear into the heart of many in the real estate industry. “In the United States, at any point in time, there are hundreds of thousands of vacant, newly-built apartments,” explains Jason Fudin, CEO and co-founder of WhyHotel, an alternative lodging service that operates in newly built, luxury apartment buildings as a pop-up hotel. As a multifamily property owner, developer, or investor, there are numbers you watch closely. The

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Multifamily Investment

It Will Be a Buyer’s Market for Multifamily Next Year

WASHINGTON, DC—It will be a buyers’ market for apartment investors next year, according to a recent survey from Capital One. It found that 74% of multifamily professionals expect they will primarily be buyers rather than sellers while just 19% saw themselves primarily being sellers in the year ahead. Respondents also indicated that rent control and continued legislative pushes around affordable housing would significantly alter their investment strategies. The survey of more than 100 multifamily professionals,

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Just Closed

JUST CLOSED: 14 UNITS IN PHOENIX

REIM represents buyer and seller in sale of the View 21 Apartments, a 14 unit apartment community in Phoenix, for $1,855,000 (Scottsdale – December 3rd, 2019) – Real Estate Intelligent Marketing is pleased to announce the sale of the View 21 Apartments. Victoria Miachika and Terry Kass of REIM negotiated the transaction on behalf of the buyer and seller. Located in Phoenix off Cave Creek Rd, View 21 is a 14 unit multifamily property comprised

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Development

The Marriage of Management and Leasing: How to Get Tenants to Say “I Do”

Operating a profitable rental property requires more than just well-run accounting practices.Successful owners understand that property managers and leasing agents must come together toconfess their love of one thing; tenants. A property has limited value without quality residents, butpursuing them, managing them and retaining them is no easy task. To capture long term commitmentand engagement from tenants, follow these suggested vows to ensure a successful tenant courtshipfor a long-lasting, fruitful relationship. MANAGEMENT Maintain Curb AppealPresentation

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