News & Trends

This department of Rental Housing Journal is dedicating to keeping apartment owners, multifamily executives, real estate investors, landlords and other real estate professionals up to date with the latest trends in real estate, property management and more. Here you will find trends in rents, real estate sales, apartment development, the economy at large and property management and investing industry matters.

real estate market trends
Wed
16
Apr
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Industry Representatives visit with Utah’s Congressional Delegation

Each March the National Apartment Association holds the largest advocacy training conference

in the rental housing industry in Washington DC. As usual, Utah sent a delegation that attended

meetings, discussed federal legislative and regulatory policies and then visited with members of Utah’s

congressional delegation.

“This year, we were able to visit with both of our U.S. Senators and 3 out of four of the congressional

offices and discuss the issues affecting rental housing,” said Paul Smith, UAA Executive Director. “As

usual, our senators and representatives seem to be on the same page as us that rental housing is

a necessary component of a balanced housing policy and needs to be protected from overzealous

regulation and too much push for homeownership at any price. Living in an apartment or other kind of

rental housing is a legitimate life choice and needs to be an option for all Americans”, he says.”

Wed
16
Apr
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Portland Retail Market Report

Despite a slow 3rd quarter Portland’s retail market continued its steady growth heading into the final quarter of 2013. Overall Portland’s rental rate and vacancy remained stable while only a hand full of properties were delivered to the market. Submarkets in and around Beaverton and the I-5 corridor saw little if any construction but are poised to bring major deliveries to the market in 2014. East of the Willamette saw the most construction during this slow quarter with a number of deliveries and current construction taking place. While local investors are dominating the retail market interest is growing population and employer growth is catching the interest of national and regional investors looking for new markets. The third quarter was far from lucrative but few negative indicators and a major projects show the market’s stability moving into 2014.

Sun
30
Mar
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The Metro-Phoenix Apartment Market - 2013 Wrap Up

I am fascinated by the 2013 metro-Phoenix, Multi-Family Sales numbers. Maybe fascinated isn’t really the right word; but the numbers are interesting and very encouraging considering the last four or five years.
During 2013, there were 285 sales of apartments with 10 or more units. 182 of these sales had between 10 and 99 units and 103 sales had 100 or more units. Here’s where it gets interesting: The 182 sales of 10 – 99 units amounted to $243,391,008 and 5,955 units. Pretty impressive. Wait. The 103 sales of properties with 100 or more units totaled $2,336,626,810 and 27,428 units!
The charts below show the details of the 2013 Multi-Family sales with the additional breakdown of when the property was built.
Metro-Phoenix Apartment Sales – 2013 (10 to 99 Units)
Built 1940 to 1979 Total Sales Total/Average
No of Transactions 113
Price/Unit $40,388
Price/SF $53.03
$139,493,022

Sun
30
Mar
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Dupre & Scott Video Report: SOMETIMES IT'S JUST A LEMON

Have you ever heard the expression, when life hands you lemons make lemonade? Well, sometimes you just have to accept that it's nothing more than a lemon. There has been a lot of talk in the media lately about how fast rents are climbing. But oddly, nobody wants to talk about the real elephant in the room. We started to in December. Now here's some more detail.

Thu
20
Mar
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Dupre & Scott Video Report:FORWARD TO THE PAST

FORWARD TO THE PAST Seattle’s Museum of History and Industry is a gem. And it would be worthwhile for everyone interested in our region’s apartment market to spend an afternoon there. Why? History has a way of repeating itself, at least in our region's apartment market.

Sun
16
Mar
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2014 Utah Legislative Session

The 2014 Legislative session was wild and crazy as sessions always are, but we came out very well. This doesn't happen by itself. There were hundreds of hours put in by our members, committees, lobbyists and staff. Thanks to all who work so hard to protect us.

The biggest issues:

Radon regulation - We were able to help defeat efforts to require mandatory and overzealous radon inspections whenever tenants move in or out. This costs between $250 and $300 every time a tenant moved in or out and requires you to sit empty a couple of weeks waiting for test results. Unfortunately there will always be people, including the testing industry, who want to impose these requirements on us. We are going to remain vigilant in helping the legislature understand the burden that mandatory testing would be for rental operations.

Thu
13
Mar
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Dupre & Scott Video Report: GOLDILOCKS AND THE BIG WHEEL

Apartment investment trends are cyclical. But unlike Seattle’s big wheel, and whether this is good or bad is a matter of opinion, most of us will go through more than 3 cycles in our career. In fact, sales trends in the Puget Sound region apartment market remind me of the story of Goldilocks and the three bears. Actually, Goldilocks and the three bowls of porridge.

Fri
07
Mar
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Dupre & Scott Video Report: THE MORE THE MERRIER

THE MORE THE MERRIER Here is some good news about migration into the Puget Sound region. Our region continues to capture more than 60% of the migration into the state. And year-to-date migration into the region is up 16% this year compared to last year. Here's more good news.

Tue
04
Mar
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House Offers Qualified Hope to Wounded Veterans

By Greg Lucas

On January 13, 2014, the State House again took under consideration House Bill 1214. Briefly stated, HB 1214 exempts from property taxes veterans with one hundred percent service-connected disabilities and active duty members of the armed forces, National Guard, or Reserves who have incurred a catastrophic injury in the line of duty. The Bill has been around awhile. It was first introduced a year ago and sent to the Finance Committee, reintroduced in May of 2013, reintroduced in November of 2013, and reintroduced in January.

Sat
01
Mar
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Nearly Half of Renters and Landlords Show Incomplete Understanding of Basic Rental Laws

Confusion is high around laws regarding security deposits, early lease termination, according to a Zillow Rentals survey

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