Deaton Investment Real Estate & The Wake County Apartment Association

Tuesday, June 21, 2011

An Interactive Census Map

Courtesy of the NY TIMES comes this Interactive Population Map that provides a great visual for population patterns between 2000 and 2010. You can browse population growth and decline, changes in racial and ethnic concentrations and patterns of housing development.

It's worth checking out and clicking around for 10 minutes. You will learn something.

Thursday, June 16, 2011

Raleigh/Cary apartment communities sell

Just this month, two apartment communities in Raleigh and one in Cary sold to a single purchaser at an average price of $54,000/unit. The communities are 20 to 30 years old.

This price falls in-line with the recent upward pressure on values for larger apartment communities. A major contributing factor in this trend is the availability of attractive financing from GSE's Fannie Mae and Freddy Mac for larger apartment communities and portfolios. Unfortunately, similar financing options are not as available for smaller communities (less than $1 million).

Wednesday, June 8, 2011

More bad news for home builders? More good news for apartment owners and developers?


"The state of the nation's housing is sobering," said Eric S. Belsky, the managing director of the Joint Center for Housing Studies, which wrote the report. "Total housing construction over the previous decade now barely exceeds the lowest level of any ten-year period in records dating back to 1974."

"If employment growth, especially among young adults, continues to pick up and homeownership rates continue to slide," the report says. "renter household growth should remain strong." That in turn will result in higher demand in rental housing, perhaps prompting more multi-family construction, authors say.

Thursday, June 2, 2011

Federal Government Considering Real Estate Dispositions to Cut Spending

Through an aggressive push in Washington, DC, to cut costs and improve operational efficiencies, the federal government's listings of properties for sale could balloon from less than a hundred or so to include potentially thousands of properties - and also, reduce the government's reliance on leased space. Read the rest of the article.

One highlight from the article:

"Last week, the House subcommittee on Economic Development, Public Buildings & Emergency Management approved a bill (the Civilian Property Realignment Act) that calls for setting up a commission to identify real estate properties that would be put out for sale. Rep. Jeff Denham (R-CA), chairman of subcommittee, sponsored the bill with the full backing of the President, who has directed federal agencies to accelerate efforts to eliminate unneeded properties, setting a goal of saving $3 billion by the end of 2012."