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Dylan Simon's insight:
"High occupancy rates are helping keep apartment rents high and rising. 'Rent growth—while below the cycle’s peaks—has outperformed many investors’ expectations,' says Willett. Same-property rents for new leases climbed 2.6 percent in first quarter compared to the year before. That’s about the same as the rate of rent growth has been over the last four quarters, according to RealPage."
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Dylan Simon's insight:
"Gains in high-growth Western tech markets, including San Jose, Calif.; Seattle; Denver; and San Francisco, were at above-trend levels in the latest three-month period following a longtime deceleration trend from 2015 to 2017.
On a trailing three-month (T-3) basis, which compares the past three months to the previous three months, rents increased by 0.3% at the national level. San Jose led the nation, with 0.7% rent growth on a T-3 basis, while Chicago, Denver, and Seattle bounced back at 0.4% after short-term rent declines in late 2017 to early 2018."
![]() "For the first time, Seattle saw more Redfin users — those shopping for a place to live — looking to leave the area than to move into it."
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Dylan Simon's insight:
"The finding that 64% of the population lives in markets that are more affordable to rent than buy, showing that homebuying will continue to be an uphill battle in 2018."
![]() “We look forward to cities that are also progressive and are thinking forward and long-term in terms of affordable housing and mass transportation and being able to move people around,” Schoettler said.
Dylan Simon's insight:
“'We look forward to cities that are also progressive and are thinking forward and long-term in terms of affordable housing and mass transportation and being able to move people around,' Schoettler said."
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Dylan Simon's insight:
Can you believe it's been a decade since Amazon made their move to SLU? "Ten years ago Thursday, Amazon announced it would move to South Lake Union, consolidating the company’s growing footprint into an 11-building campus and abandoning the former hospital building on Beacon Hill that the company had called home."
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Dylan Simon's insight:
"The home price is listed at $33 in Bitcoin and a 20 percent down payment equates to $7. That price translates roughly to $535,000 at current market prices for the cryptocurrency." |
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Dylan Simon's insight:
“While some have anticipated the bottom falling out of the market for more than a year, Q1’s year-over-year uptick in deal volume suggests resilience in the commercial real estate sector.”
![]() Seattle and San Francisco, two booming tech hubs, will see the fastest construction cost increases in the U.S. this year, according to a new report.
Dylan Simon's insight:
"Both cities will see costs rise by 5 percent, outpacing the expected 4.3 percent increase in the top 46 global markets, according to the company's annual International Construction Market Survey. The expected rate of cost escalation for San Francisco is unchanged from 2017, when it also rose 5 percent."
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Dylan Simon's insight:
"After stumbling out of the gate in 2017, the apartment investment market posted a strong Q1, according to Real Capital Analytics (RCA), deal volume growing by 55 percent, year-over-year. Of the sectors tracked by RCA, the apartment sector, which saw 27 percent more activity than office, was the 'largest, most liquid' commercial group in Q1, RCA reports."
![]() Home prices in Seattle continue to climb faster than any other city in the nation, giving the Emerald City the title of the hottest housing market for the…
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Dylan Simon's insight:
"While intelligent building management systems (BMSs) come at some cost, property managers with cloud-based BMSs stand to save 25 to 50 cents per square foot in energy costs on an annual basis, which could pay off the cost of the system in one and a half to four years."
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Dylan Simon's insight:
"As available real estate becomes increasingly scarce, commercial real estate professionals need imagination and the right tools to keep pace with demand."
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Dylan Simon's insight:
"Predictability in planning and infrastructure are important in the success of an emerging market, Parks said. 'Plans laid down by municipalities have to have enough flexibility to allow developers to achieve their goals, as well as the goals of the municipality, such as placemaking or walkability.'" |
The value of commercial starts may have dropped, but residential seems to be going strong: "On the residential side, however, the value of multifamily and single-family starts through April jumped 42 percent to just over $2.9 billion."