Bidding War May Be Moving to Rental Front
The country's apartment sector is seeing more bidding wars as tenants jockey for available rental units in increasingly tight markets.
Nationwide, rent for a 1,000-square-foot apartment has risen 3.7 percent in the last year to $1,389 a month, says Property & Portfolio Research Inc.
One of the main reasons for climbing rents is the reduced inventory of units, created in part by developers that built condos or converted rental stock into for-sale units during the home sale boom.
In the second quarter of this year, rental vacancy rates fell to 5.3 percent from 6.2 percent in the year-earlier period. This has produced what is known as a "landlord's market," with companies like AvalonBay Communities Inc. raising their asking prices and cutting concessions for incentives like a free month's rent.
Source: Wall Street Journal, Christine Haughney (10/11/06)
Friday, October 13, 2006
Rental Market Heating Up WSJ Article
Friday, September 22, 2006
An good article outlining the current state of the Tacoma Real Estate Market...
Forbes.com article 9/22/06
Check out their 10 year prediction for Seattle, though! I think Seattle / Tacoma is a great place to live and not in the same shape as other metro areas but 60% gains over the next 10 years is a little optimistic, I believe.
Monday, September 18, 2006
Real Estate Market Data
where and who people are getting their data. I just look at the MLS and interpret the data how I feel comfortable with. A realtor can provide you with just about any information you desire, of course it helps if you are a buyer or seller working with them, laugh.
Above are a couple of scans of an Area Market Survery hot from the press (generated from the MLS, you can even see the links at the bottom). I am mainly posting this entry for the prolific debaters from both sides of the argument on the housing forum of Craigslist. For better resolution click on the image then expand it. The first pic is all homes sold in seattle from May 18, 2006 to June 18, 2006. The second is from August 18, 2005 to September 18, 2005. The third is August 18, 2006, to September 18, 2006. Don't ask me why the aren't in order, Blogger put them that way.
