Orlando is currently the fifth-best market in which to own rental property in the Southeast U.S. and 19th-best in the country as a whole, according to a new report from All Property Management.
Source: www.bizjournals.com
Orlando is currently the 5th-best market to own rental property in the Southeast U.S. and 19th-best in the country, according to a new report from All Property Management.
The same group with plans for a 23-story tower in downtown Tampa has a vision for a prime parcel in Sarasota’s urban core.
Source: www.bizjournals.com
A mixed-use tower in downtown Sarasota is in the works for a prime parcel of the urban core — the corner of Second Street and Central Avenue, across the street from Whole Foods Market.
Atlanta based Carter is planning a 10-story tower in the and is one of several development projects in the downtown Sarasota area. Vertica Partners and Framework group have partnered together on a 228 unit project across the street on Fruitville and Central for a 228 unit project expected to break ground 1Q 2016.
Multifamily lending in 2014 broke records.
Source: www.bisnow.com
Last year, multifamily lenders provided a total of $195.1B in new mortgages for five-plus-unit apartment buildings, a 13% increase from 2013, according to the Mortgage Bankers Association.
The lending came from 2,876 lenders, however, two-thirds made five or fewer loans while the top five lenders were JP Morgan Chase, Wells Fargo, CBRECapital Markets, Walker & Dunlop and PNC Real Estate.
After dropping to the lowest level in 48 years in the last quarter, the homeownership rate in the United States increased during the third quarter. The increase during the third quarter was the first time the homeownership rate increased in two years.
Source: www.housingwire.com
After dropping to the lowest level in 48 years in the last quarter, the homeownership rate in the United States increased during the third quarter, according to data from the Department of Commerce and the Census Bureau.
The latest quarterly report on residential vacancies and homeownership showed that the national rate of homeownership rose to 63.7% in the third quarter, climbing from 63.4% in the second quarter, which was a 48-year low.
The increase during the third quarter was the first time the homeownership rate increased in two years.
Whether this is merely a blip on the radar or the pendulum has started to swing in the other direction is unclear. Additional time and data points will be needed to see if the trend continues, but for homeownership rates to increase in the US, wage growth and affordable buying options will have to become a part of the equation.
Vacancy rates are rising for to the most expensive apartment communities in urban neighborhoods, research shows.
Source: nreionline.com
The pressure is due to the fact that developers are building so many new luxury apartments in urban areas, especially in downtown districts. Vacancy rates are lower and rent growth is steady for apartment communities that don’t have to compete so hard to attract renters—including class-A apartment communities in suburban areas, where there isn’t so much new construction, and class-B apartment communities everywhere.
Bay area rental experts say it is a landlord’s market as demand for rental properties increases and supply remains low.
Source: www.abcactionnews.com
The Tampa Bay market is proving to be tough for renters to find suitable options without having to sacrifice on location or price. Renters are having to accept a less than ideal option in order to afford the increasing rents landlords are charging.