Jansen Multifamily Team Blog - Insight and commentary on the Seattle/Puget Sound apartment market

Monday Multifamily Links

Josh Jansen — Tue, 07 Feb 2012 03:31:46 +0000

Ross Rant give his opinion on how we should be viewing the markets. What really is normal after this crash?

GlobeSt.com: What is Really a Return to Normal?

“Spending on hotels, industrial plants, and other commercial properties is going to set the pace for the construction industry over the next two years,” says Kermit Baker, American Institute of Architects Chief Economist.

CCIM: Hotel and Industrial Construction on the Rise

Seattle real-estate magnate Michael Mastro’s creditors should be receiving some of the funds they are owed soon. A judge has ordered the distribution of $2.8M to creditors.

Seattle Times: Mastro Creditors Due to Get 1 Percent of What’s Owed

Ten Year Treasury Yields at 1.91

Bloomberg: Ten Year Yields

Monday Multifamily Links

Josh Jansen — Tue, 31 Jan 2012 00:30:09 +0000

The first half of this article by John Miller provides more proof that Apartments are the best bet for investors. Surges in demand have pushed rents in most areas and the continued trouble of homeowners facing strict lender requirements for home financing is only benefiting apartment owners.

GlobeSt: Unaffordable Apartments; Trump’s Faux Run

Ten year Treasury Yields decline to 1.84%

Bloomberg: Ten Year Treasury Yields

Condominium owners are facing some problems applying for FHA loans on a “spot-by-spot” mortgage. The Federal Housing Administration set a criteria in February 2010 that the entire building, not just the individual condo, had to be certified.

Seattle Times: Condo Buyers Frustrated in Hunt for FHA Mortgages

An insightful article on the current recovery or possible derailing of our recovery.

GlobeSt: Recovery Threatened, But This is Not 2008

Monday Multifamily Links

Josh Jansen — Tue, 24 Jan 2012 03:16:37 +0000

The sale of The Mill at Mill Creek, 516 units, was finalized last week. Greystar was able to obtain a $46.3 million dollar loan to finance the transaction.

GlobeSt.com: Greystar Closes on 516-Unit Seattle Multifamily Buy

Greenwood Avenue North received approval Tuesday for a 263-unit complex.

Seattle Times: Planners approve Greenwood apartment complex

Ten year Treasury yields have climbed back to 2.04.

Bloomberg: Ten Year Treasury Yields

Monday Multifamily Links

Josh Jansen — Mon, 16 Jan 2012 21:23:59 +0000

According to Federal Reserve Chairman, Ben Bernanke, Fannie and Freddie may have to bear more losses to “stoke” broader recovery due to the continued weakness in the housing market.

Seattle Times: Bernanke: Fannie, Freddie May Have to Suck Up More Losses

Kenneth Riggs Market Forecast for 2012 shows Multifamily sector in for a robust 2012. Stated reasons are the strong fundamentals for the market, decreasing home ownership rates, lack of new supply, and the availability of financing for projects.

CCIM: 2012 Expectations and Realities

Ten-Year Treasury Yields at 1.86 for the beginning of 2012.

Bloomberg: Treasury Yields

Monday Multifamily Links

Josh Jansen — Tue, 10 Jan 2012 01:02:52 +0000

Puget Sound super employer, Boeing, is closing down a plant in Wichita, Kansas which will result in more jobs for the northwest plant due to the recently approved deal with the Machinists union. ”Business costs in Wichita are not competitive in the military maintenance, repair, and overhaul market,” says Mark Bass, VP and GM of Boeing’s Defense division.

Seattle PI: Boeing Closing Wichita Plant

Ten year Treasury Yields

Bloomberg: Ten Year Treasury Yields

Equity Residential has decided to continue the development of South Lake Union. The country’s largest apartment owner has purchased a half block site where they plan to build a 275-unit apartment complex.

Seattle Times: Equity Residential Buys Lake Union Parcel