SEATTLE, WA – While the for-sale market has shaken off the early impact of the coronavirus pandemic and resumed its torrid pre-pandemic pace, rent growth hit the brakes this spring. Rent prices in urban areas have slowed more than those in suburban areas, Zillow data shows, a possible signal that renters’ preferred location is tilting…
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It’s that time of year again, budget season. In a normal year, budgeting comes with it’s own set of challenges, in a year with a global pandemic, it can seem nearly impossible. I had the opportunity to sit down with 3 multifamily friends to chat how they were weathering the budget…
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Jobs are coming back, with 1.8 million net new additions in July, bringing the total to 9.3 million over the past three months as the economy has steadily reopened.
GATLINBURG, TN – FOURMIDABLE, a national real estate property management and brokerage firm currently managing 14 communities throughout Tennessee, announced the opening of Watson Glades Place, its newest community in Gatlinburg. “FOURMIDABLE is proud to have been working with the members of this ownership group since 2007 and have built a strong professional relationship. We…
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Since the coronavirus pandemic hit, apartment operators have had to rethink the prospect visit and the prospect experience at their communities. As such, the term “self-guided tour” has gained significant fanfare – think “business intelligence” of five years ago – and gets tossed around constantly. (It’s even got its own acronym: SGT.) Unfortunately, a lot…
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HOUSTON, TX – BSR Real Estate Investment Trust announced that it has acquired Broadstone Park West, a 370 suite, garden style residential community in Houston, Texas for US$51 million from Starlight Investments. The transaction was financed through a combination of a draw on the REIT’s credit facility of approximately US$40.0 million and the issuance of…
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Foreign buyers continued to pull back for the second year, purchasing $74 billion of U.S. existing homes from April 2019–March 2020, a 5% decrease from the prior 12-month period.
Try as the industry might, apartment communities are struggling to make the search for an apartment a fun one. This, according to 200 respondents to an online survey conducted June 1 to July 15 who indicated that they “always plan to be a renter,” completing a 50-question survey from Roost. When asked to define their…
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WATERBURY, CT – In keeping with its mission to preserve affordable housing, national not-for-profit The NHP Foundation ( NHPF ) announced that it has purchased Waterbury, CT, senior affordable property, Exchange Place Tower. The original construction of the building was made possible with rental assistance support from the U.S. Department of Housing and Urban Development…
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Can a city change my property zoning without my permission? Yes, a city can change your zoning classification without your permission. Legally speaking, zoning is an exercise of what is known to be police power. It does not happen often, and we’re not saying it is a fair practice. But it is possible. “Police power”…
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