The next meeting of the Wake County Apartment Association is this Thursday night, 6/2/11. We will be meeting at a new location, Perkins Restaurant off Capital Blvd and the I-440 Beltline.
During this week's meeting I will be sharing the results of the latest Triangle Apartment Market Report from Karnes Research and TAA. The report documents a rental market that is strong and getting stronger. After reviewing the highlights (including employment data, absorption stats, vacancy rates and forecasts) we will take a close look at detailed rent comparables and trends within specific submarkets around the Triangle and Wake County. I would also like those in attendance to consider sharing a sample of their current rental rates and ideas for negotiating new leases and renewals. This group discussion and information sharing should better equip everyone to maximize revenue in the coming months.
I have had 3 different landlords/managers tell me recently that this is the best rental market they have experienced in more than 10 years. Let's make sure we seize the opportunity.
NEW Location: Perkins Restaurant off Capital at I-440 - http://www.perkinsrestaurants.com/
2657 Appliance Court
Raleigh, NC 27604
919-828-7375
Time: Dinner and Networking 6:00 pm - 7:00 pm. Speaker 7:00 pm - 8:00 pm.
Guest are always welcome. Membership is currently $15/year.
Tuesday, May 31, 2011
Friday, April 29, 2011
The Coming Housing Calamity
I will give credit to a fellow Broker, Mike Attayek with City Gate Real Estate Services, for sharing this article with me. It's a bit academic, but very thought provoking and even builds upon my post earlier this month on Oil Prices and Real Estate suggesting urban rental markets are due for big rent growth.
The article, The Coming Housing Calamity, is written by Robert Steuteville off New Urban Network. He addresses issues like the coming great senior sell-off, rising household sizes, dropping home ownership, and tighter lending standards (accompanied by good graphs). He makes the point that the coming years will be a disaster for homebuilders and home ownership rates will decline, despite an increasing population. For some this is bad news. For apartment owners, landlords and managers that should mean higher rents and lower vacancies.
The article, The Coming Housing Calamity, is written by Robert Steuteville off New Urban Network. He addresses issues like the coming great senior sell-off, rising household sizes, dropping home ownership, and tighter lending standards (accompanied by good graphs). He makes the point that the coming years will be a disaster for homebuilders and home ownership rates will decline, despite an increasing population. For some this is bad news. For apartment owners, landlords and managers that should mean higher rents and lower vacancies.
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