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When we saw Daft Punk win Record of the year for “Get Lucky” at the Grammy’s last week, we were blown away by how meaningful those lyrics are to a lot of people in our region’s apartment market, especially developers, investors, professional property managers, and their on-site teams. So their record, “Get Lucky” got us thinking about some issues. And, in addition to looking at some of these current trends, we've added a little humor with something different, a song paying tribute to the tireless efforts of the on-site property management team. The next couple of years will be challenging as they find new creative ways to fill more new apartment units than our region has seen in almost 25 years, and back-fill existing ones.
Lucky
Lucky
Dupre + Scott Apartment Advisors, Inc
A lot of investors are bullish on our region’s apartment market. They have seen rents climb over the past few years and expect more of the same. Others are worried that new development will increase vacancies and lower rents and values. The key is for investors to look at all of the inflationary and deflationary trends in the market, not just the one thing they might be fixated on today. It’s like the Patriots letting air out of footballs. Let's see how.
Is deflation patriotic?
Is deflation patriotic?
Dupre + Scott Apartment Advisors, Inc
Forecasts are beautiful things to observe. Okay, maybe not as beautiful as a Chihuly glass garden. But just as fragile. That’s why the first rule of forecasting is, don’t. And the second rule is, if you must forecast, do it often. We won’t update our forecast for rents, vacancies, net income, development, and price trends until October. But since we’re almost half way through 2014 this is a good time to look at two key factors that will impact our next forecast.
Beautiful but fragile
Beautiful but fragile
Dupre + Scott Apartment Advisors, Inc
We talk about Seattle trends in these videos a lot. That’s because there are more sales in Seattle making it easier to spot trends. But there are some interesting sales trends in other submarkets, so we dug around in the cellar archives to find some trends to discuss today. Let’s take a quick look at them.
Digging up submarket apartment sale trends
Digging up submarket apartment sale trends
Dupre + Scott Apartment Advisors, Inc
Behind me is the Dente del Giante, or Giant’s Tooth, in Italy. I told our guide that it looked more like a thumb to me. That started me thinking about apartments and useful rules-of-thumb investors can use. For example: The economic news always focuses on the unemployment rate. I don’t want to sound cold and uncaring, but that’s not the most important statistic right now. At least it isn’t for apartment investors who want to figure out what will happen to vacancies and rents.
Apartment demand rule of thumb
Apartment demand rule of thumb
Dupre + Scott Apartment Advisors, Inc
The party has been going on for almost a year and there are no signs it's stopping anytime soon. We have updated information this week on more than 200 apartment projects that are under construction or in the planning phase, so we wanted to share some preliminary results.
Development trends
Development trends
Dupre + Scott Apartment Advisors, Inc
The average apartment rent in Seattle rose 8.3% in the past year. That’s a lot. No doubt about it. It beats inflation. It beats wage growth. So some in the media, and special interest groups take to calling this a problem of skyrocketing rents, a crisis, an emergency. Well, let me say this about that. That type of hyperbole is misleading at best. And it is dishonest at worst.
Can you handle the truth about apartment rents?
Can you handle the truth about apartment rents?
Dupre + Scott Apartment Advisors, Inc
Aloha. Did you get away for an early winter break in January? Well, if you did, here’s what you’ve missed already this year. Based on trends in January, 2015 is shaping up to be a very exciting year in the Puget Sound region apartment market. Let's take a quick look at some of these trends.
What happened while you were on vacation?
What happened while you were on vacation?
Dupre + Scott Apartment Advisors, Inc
Recommandé
When we saw Daft Punk win Record of the year for “Get Lucky” at the Grammy’s last week, we were blown away by how meaningful those lyrics are to a lot of people in our region’s apartment market, especially developers, investors, professional property managers, and their on-site teams. So their record, “Get Lucky” got us thinking about some issues. And, in addition to looking at some of these current trends, we've added a little humor with something different, a song paying tribute to the tireless efforts of the on-site property management team. The next couple of years will be challenging as they find new creative ways to fill more new apartment units than our region has seen in almost 25 years, and back-fill existing ones.
Lucky
Lucky
Dupre + Scott Apartment Advisors, Inc
A lot of investors are bullish on our region’s apartment market. They have seen rents climb over the past few years and expect more of the same. Others are worried that new development will increase vacancies and lower rents and values. The key is for investors to look at all of the inflationary and deflationary trends in the market, not just the one thing they might be fixated on today. It’s like the Patriots letting air out of footballs. Let's see how.
Is deflation patriotic?
Is deflation patriotic?
Dupre + Scott Apartment Advisors, Inc
Forecasts are beautiful things to observe. Okay, maybe not as beautiful as a Chihuly glass garden. But just as fragile. That’s why the first rule of forecasting is, don’t. And the second rule is, if you must forecast, do it often. We won’t update our forecast for rents, vacancies, net income, development, and price trends until October. But since we’re almost half way through 2014 this is a good time to look at two key factors that will impact our next forecast.
Beautiful but fragile
Beautiful but fragile
Dupre + Scott Apartment Advisors, Inc
We talk about Seattle trends in these videos a lot. That’s because there are more sales in Seattle making it easier to spot trends. But there are some interesting sales trends in other submarkets, so we dug around in the cellar archives to find some trends to discuss today. Let’s take a quick look at them.
Digging up submarket apartment sale trends
Digging up submarket apartment sale trends
Dupre + Scott Apartment Advisors, Inc
Behind me is the Dente del Giante, or Giant’s Tooth, in Italy. I told our guide that it looked more like a thumb to me. That started me thinking about apartments and useful rules-of-thumb investors can use. For example: The economic news always focuses on the unemployment rate. I don’t want to sound cold and uncaring, but that’s not the most important statistic right now. At least it isn’t for apartment investors who want to figure out what will happen to vacancies and rents.
Apartment demand rule of thumb
Apartment demand rule of thumb
Dupre + Scott Apartment Advisors, Inc
The party has been going on for almost a year and there are no signs it's stopping anytime soon. We have updated information this week on more than 200 apartment projects that are under construction or in the planning phase, so we wanted to share some preliminary results.
Development trends
Development trends
Dupre + Scott Apartment Advisors, Inc
The average apartment rent in Seattle rose 8.3% in the past year. That’s a lot. No doubt about it. It beats inflation. It beats wage growth. So some in the media, and special interest groups take to calling this a problem of skyrocketing rents, a crisis, an emergency. Well, let me say this about that. That type of hyperbole is misleading at best. And it is dishonest at worst.
Can you handle the truth about apartment rents?
Can you handle the truth about apartment rents?
Dupre + Scott Apartment Advisors, Inc
Aloha. Did you get away for an early winter break in January? Well, if you did, here’s what you’ve missed already this year. Based on trends in January, 2015 is shaping up to be a very exciting year in the Puget Sound region apartment market. Let's take a quick look at some of these trends.
What happened while you were on vacation?
What happened while you were on vacation?
Dupre + Scott Apartment Advisors, Inc
Is the apartment market going bananas? Here are four stories to give you a better understanding of critical apartment market trends in the Puget Sound region
Speech slides: Rental Housing Association, March 2016
Speech slides: Rental Housing Association, March 2016
Dupre + Scott Apartment Advisors, Inc
We get a lot of our real estate insights from movies, theatre, music, and dance and we have shared those ideas in past videos. Now we can add to that list of insight generators binge-watching offbeat television series. This summer we binge-watched "The Killing." It’s based on a Danish series we can’t pronounce. Wait a minute. What in the world does this have to do with apartments? You'll see.
The J Wellington Wimpy Paradox
The J Wellington Wimpy Paradox
Dupre + Scott Apartment Advisors, Inc
Top floor 2 bedroom/ 1 bath apartment with views.
Holly Court 6
Holly Court 6
Dupre + Scott Apartment Advisors, Inc
A couple of weeks ago we discussed rent trends for smaller properties. Today we will look at these trends in a little more detail, by breaking out rent growth for single-family rentals, multiplexes, 5-19 unit apartments, and 20-unit and larger apartments separately. To keep things simple, we will look at two-bedroom rents in King County for each of these property types.
Single-family rentals versus apartments
Single-family rentals versus apartments
Dupre + Scott Apartment Advisors, Inc
We usually talk about trends for 20-unit and larger apartments. But there are a lot more investors involved in smaller rental properties like single-family rentals, multiplexes, and 5 to 19 unit apartment buildings. This spring we surveyed just over 2,200 20-unit and larger properties for our Apartment Vacancy Report and more than 6,400 smaller properties for our 1-19 Unit rent & Vacancy Report. So this week we will talk about some of the trends we found in King County from our smaller property survey.
Small property performance
Small property performance
Dupre + Scott Apartment Advisors, Inc
9,400 people moved into the Puget Sound region every month, on average, over the past 12 months. That’s impressive. But the growth in in-migration has been slowing. In fact, it looks like it has flattened out so far this year. Okay, let’s take a more careful look at this trend.
Demand fuel
Demand fuel
Dupre + Scott Apartment Advisors, Inc
Development activity is building more momentum this year. We saw almost 7,800 new units open in the region last year. That’s the biggest production year since 1991. But that record won’t last long. And something else very interesting is happening.
Forward to the past
Forward to the past
Dupre + Scott Apartment Advisors, Inc
Apartment sales activity in the Puget Sound region is starting off the year impressively. The number of sales in January and February is up 20% from January and February of last year. That’s significant, but that’s nothing. Take a look at this.
Impressive
Impressive
Dupre + Scott Apartment Advisors, Inc
Haven #103
Haven103
Haven103
Dupre + Scott Apartment Advisors, Inc
While everyone was paying attention to rising rents last year, apartment expenses in the Puget Sound region also went up. Let's take a look.
The Trainor Maxim
The Trainor Maxim
Dupre + Scott Apartment Advisors, Inc
Are you having trouble finding a parking space these days? Fear not. It will get worse. Gone are the days when developers build in one or two parking spaces for every new apartment unit. Let’s take a look at what’s happening.
Do you really need to park?
Do you really need to park?
Dupre + Scott Apartment Advisors, Inc
According to the two finest philosophers of the past 100 years, when you are negotiating to buy an apartment building you have to decide on one of two strategies. The philosophers, Jagger & Richards in their 1968 treatise, “Let it Bleed”, identified the “Get what you want strategy” and suggested an alternate “Get what you need strategy.” Let’s start with the “get what you want” strategy.
Negotiating? Think "Let it bleed"
Negotiating? Think "Let it bleed"
Dupre + Scott Apartment Advisors, Inc
We take a look at migration trends every month. They are important to our region's housing market so it pays for investors to keep tabs on what's happening. And month after month we have been reporting better news than the month before. You have to start wondering when the good news will stop. Well, maybe this is the month. There is good news. A lot of it. But we’ve found some bad news too. First, let’s look at the good news.
More people... good or bad?
More people... good or bad?
Dupre + Scott Apartment Advisors, Inc
Moving can be exciting but it can also be a huge hassle. So let’s say thank you to the 175,000 people who moved into Washington last year. Over 60% of them landed in the Puget Sound region. That adds up to a lot of potential housing demand. There’s only one problem though. Let's take a look.
Growing Gains
Growing Gains
Dupre + Scott Apartment Advisors, Inc
Cmlspace slideshow
Cmlspace slideshow
Dupre + Scott Apartment Advisors, Inc
Yes, vinyl is popular again, but we don't mean that type of record sales. What we mean is apartment sales activity broke a couple of records in 2014. Sales volume reached an all-time high. So did prices. These are definitely bullish indicators. But that's it for the records. Other indicators aren't so bullish. They're not bad. They just aren't in record-setting territory. Let's take a look.
Record sales?
Record sales?
Dupre + Scott Apartment Advisors, Inc
This tutorial gives a brief overview of some of the features we just added to the online custom reports available to subscribers and research participants.
Website Tutorial: New Custom Report Features - An Overview
Website Tutorial: New Custom Report Features - An Overview
Dupre + Scott Apartment Advisors, Inc
Year-to-date migration into the region is up 18% this year compared to last year. That’s down from the 24% increase we talked about a couple of months ago, but it is still great news. Maybe the numbers will be more meaningful. Let’s take a look.
Can demand match development?
Can demand match development?
Dupre + Scott Apartment Advisors, Inc
Are you having trouble finding a parking space these days? Fear not. It will get worse. Gone are the days when developers build in one or two parking spaces for every new apartment unit. Let’s take a look at what’s happening.
Waiting for a parking spot?
Waiting for a parking spot?
Dupre + Scott Apartment Advisors, Inc
Let’s take a quick look at sales activity in the first half of this year and compare it to the first half of last year to see how investor attitudes have changed. These trends are for sales of 5-unit and larger apartments in king, Pierce, and Snohomish counties. First, sales volume is up almost 40% this year.
Declaration of half way
Declaration of half way
Dupre + Scott Apartment Advisors, Inc
Contenu connexe
Plus de Dupre + Scott Apartment Advisors, Inc
Is the apartment market going bananas? Here are four stories to give you a better understanding of critical apartment market trends in the Puget Sound region
Speech slides: Rental Housing Association, March 2016
Speech slides: Rental Housing Association, March 2016
Dupre + Scott Apartment Advisors, Inc
We get a lot of our real estate insights from movies, theatre, music, and dance and we have shared those ideas in past videos. Now we can add to that list of insight generators binge-watching offbeat television series. This summer we binge-watched "The Killing." It’s based on a Danish series we can’t pronounce. Wait a minute. What in the world does this have to do with apartments? You'll see.
The J Wellington Wimpy Paradox
The J Wellington Wimpy Paradox
Dupre + Scott Apartment Advisors, Inc
Top floor 2 bedroom/ 1 bath apartment with views.
Holly Court 6
Holly Court 6
Dupre + Scott Apartment Advisors, Inc
A couple of weeks ago we discussed rent trends for smaller properties. Today we will look at these trends in a little more detail, by breaking out rent growth for single-family rentals, multiplexes, 5-19 unit apartments, and 20-unit and larger apartments separately. To keep things simple, we will look at two-bedroom rents in King County for each of these property types.
Single-family rentals versus apartments
Single-family rentals versus apartments
Dupre + Scott Apartment Advisors, Inc
We usually talk about trends for 20-unit and larger apartments. But there are a lot more investors involved in smaller rental properties like single-family rentals, multiplexes, and 5 to 19 unit apartment buildings. This spring we surveyed just over 2,200 20-unit and larger properties for our Apartment Vacancy Report and more than 6,400 smaller properties for our 1-19 Unit rent & Vacancy Report. So this week we will talk about some of the trends we found in King County from our smaller property survey.
Small property performance
Small property performance
Dupre + Scott Apartment Advisors, Inc
9,400 people moved into the Puget Sound region every month, on average, over the past 12 months. That’s impressive. But the growth in in-migration has been slowing. In fact, it looks like it has flattened out so far this year. Okay, let’s take a more careful look at this trend.
Demand fuel
Demand fuel
Dupre + Scott Apartment Advisors, Inc
Development activity is building more momentum this year. We saw almost 7,800 new units open in the region last year. That’s the biggest production year since 1991. But that record won’t last long. And something else very interesting is happening.
Forward to the past
Forward to the past
Dupre + Scott Apartment Advisors, Inc
Apartment sales activity in the Puget Sound region is starting off the year impressively. The number of sales in January and February is up 20% from January and February of last year. That’s significant, but that’s nothing. Take a look at this.
Impressive
Impressive
Dupre + Scott Apartment Advisors, Inc
Haven #103
Haven103
Haven103
Dupre + Scott Apartment Advisors, Inc
While everyone was paying attention to rising rents last year, apartment expenses in the Puget Sound region also went up. Let's take a look.
The Trainor Maxim
The Trainor Maxim
Dupre + Scott Apartment Advisors, Inc
Are you having trouble finding a parking space these days? Fear not. It will get worse. Gone are the days when developers build in one or two parking spaces for every new apartment unit. Let’s take a look at what’s happening.
Do you really need to park?
Do you really need to park?
Dupre + Scott Apartment Advisors, Inc
According to the two finest philosophers of the past 100 years, when you are negotiating to buy an apartment building you have to decide on one of two strategies. The philosophers, Jagger & Richards in their 1968 treatise, “Let it Bleed”, identified the “Get what you want strategy” and suggested an alternate “Get what you need strategy.” Let’s start with the “get what you want” strategy.
Negotiating? Think "Let it bleed"
Negotiating? Think "Let it bleed"
Dupre + Scott Apartment Advisors, Inc
We take a look at migration trends every month. They are important to our region's housing market so it pays for investors to keep tabs on what's happening. And month after month we have been reporting better news than the month before. You have to start wondering when the good news will stop. Well, maybe this is the month. There is good news. A lot of it. But we’ve found some bad news too. First, let’s look at the good news.
More people... good or bad?
More people... good or bad?
Dupre + Scott Apartment Advisors, Inc
Moving can be exciting but it can also be a huge hassle. So let’s say thank you to the 175,000 people who moved into Washington last year. Over 60% of them landed in the Puget Sound region. That adds up to a lot of potential housing demand. There’s only one problem though. Let's take a look.
Growing Gains
Growing Gains
Dupre + Scott Apartment Advisors, Inc
Cmlspace slideshow
Cmlspace slideshow
Dupre + Scott Apartment Advisors, Inc
Yes, vinyl is popular again, but we don't mean that type of record sales. What we mean is apartment sales activity broke a couple of records in 2014. Sales volume reached an all-time high. So did prices. These are definitely bullish indicators. But that's it for the records. Other indicators aren't so bullish. They're not bad. They just aren't in record-setting territory. Let's take a look.
Record sales?
Record sales?
Dupre + Scott Apartment Advisors, Inc
This tutorial gives a brief overview of some of the features we just added to the online custom reports available to subscribers and research participants.
Website Tutorial: New Custom Report Features - An Overview
Website Tutorial: New Custom Report Features - An Overview
Dupre + Scott Apartment Advisors, Inc
Year-to-date migration into the region is up 18% this year compared to last year. That’s down from the 24% increase we talked about a couple of months ago, but it is still great news. Maybe the numbers will be more meaningful. Let’s take a look.
Can demand match development?
Can demand match development?
Dupre + Scott Apartment Advisors, Inc
Are you having trouble finding a parking space these days? Fear not. It will get worse. Gone are the days when developers build in one or two parking spaces for every new apartment unit. Let’s take a look at what’s happening.
Waiting for a parking spot?
Waiting for a parking spot?
Dupre + Scott Apartment Advisors, Inc
Let’s take a quick look at sales activity in the first half of this year and compare it to the first half of last year to see how investor attitudes have changed. These trends are for sales of 5-unit and larger apartments in king, Pierce, and Snohomish counties. First, sales volume is up almost 40% this year.
Declaration of half way
Declaration of half way
Dupre + Scott Apartment Advisors, Inc
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Speech slides: Rental Housing Association, March 2016
Speech slides: Rental Housing Association, March 2016
The J Wellington Wimpy Paradox
The J Wellington Wimpy Paradox
Holly Court 6
Holly Court 6
Single-family rentals versus apartments
Single-family rentals versus apartments
Small property performance
Small property performance
Demand fuel
Demand fuel
Forward to the past
Forward to the past
Impressive
Impressive
Haven103
Haven103
The Trainor Maxim
The Trainor Maxim
Do you really need to park?
Do you really need to park?
Negotiating? Think "Let it bleed"
Negotiating? Think "Let it bleed"
More people... good or bad?
More people... good or bad?
Growing Gains
Growing Gains
Cmlspace slideshow
Cmlspace slideshow
Record sales?
Record sales?
Website Tutorial: New Custom Report Features - An Overview
Website Tutorial: New Custom Report Features - An Overview
Can demand match development?
Can demand match development?
Waiting for a parking spot?
Waiting for a parking spot?
Declaration of half way
Declaration of half way
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