Ivan Kaufman shares with you a Q2 update for the real estate market, noting CMBS issuance, selected interest rates, average asking rent, foreign investment, multifamily properties and more.
The Federal Reserve announced "Operation Twist" to lower longer-term interest rates by selling short-term Treasuries and buying long-term ones. While interest rates declined as intended, stocks fell over 6% due to fears of a Greek default, global financial crisis, slowing growth in China, and declining copper prices indicating weaker global growth. Dividends have provided over a third of the S&P 500's total return over 80 years and can enhance returns and provide stability, especially in a low interest rate environment.
Prices Down Again in San Francisco - February/March Real Estate ReportAMSI, San Francisco
Prices for both single-family homes and condos/townhomes were down year-over-year in January across most districts in San Francisco. Median home prices dropped 13.1% compared to last January while condo prices fell 11.8%. However, home and condo sales were up 72.1% and 5.4% respectively due to increased lower-priced property sales. The Federal Reserve held interest rates steady at their most recent meeting in February and mortgage rates have remained stable, around 4%.
This document provides an overview and forecast of the California real estate market in 2010. It summarizes key economic indicators such as GDP, unemployment, housing permits, and consumer spending. It also reviews housing market data including home sales, prices, inventory levels, and distressed property sales at the state and regional levels. The document concludes with survey results on home buyer and seller trends including first-time buyers, mortgage types, and price discounts.
The document summarizes the real estate and economic outlook presented by Lawrence Yun, Chief Economist for the National Association of Realtors. It finds that while the housing market has improved from the downturn, with home sales and prices rising, it remains below historic averages. The outlook predicts further gains in home sales, prices, and construction in 2012-2013, supported by job growth, low interest rates, and improving affordability. However, risks like fiscal policy uncertainties could still negatively impact the recovery. Commercial real estate transaction volumes and rent growth are also expected to continue strengthening.
The document discusses trends in the US multifamily market in 2009. It summarizes that the global financial crisis severely impacted US employment, with job losses moderating but unemployment remaining high. Apartment vacancy rates increased across many markets due to job losses, but were highest in the Sunbelt and Western markets. Rent growth remained positive in many major coastal markets that saw smaller job losses. Overall, the apartment sector was expected to see rising vacancies in 2010 before occupancy begins recovering in 2011 as the economy and job market improve.
Wolf LLC is a real estate investment company that acquires multi-family apartment buildings and other properties in growing markets across the US. The company was founded one year ago and has already made several large purchases. Wolf's competitive advantage lies in its ability to unite investors to make wise, long-term investments that build communities. The business plan outlines strategies to attract more investors and partners, identify promising properties, conduct thorough analysis of deals and markets, and implement an exit strategy. The document argues that now is a good time to invest in the US due to low interest rates, a strengthening dollar, and high demand for multi-family housing.
Mark Obrinsky at the Apartment Strategies ConferenceDavid Covucci
The document discusses the economic and apartment market outlook in May 2010. It suggests that while the economic recovery appears to be underway based on GDP and job growth, there is uncertainty around whether growth will be sustained or if recent indicators only reflect temporary strength. It also notes that job and income growth are critical to increasing renter household formation and apartment occupancies. Overall apartment vacancies are forecasted to enter a rapid recovery after stabilizing in 2010.
The document summarizes the strong performance of the stock market in the first quarter of 2012, with the S&P 500 rising 12% which was its best start since 1998. Analysts attributed the gains to an easing of Europe's debt crisis, a strengthening global economy, rising US consumer sentiment, and supportive Federal Reserve policy. However, some warn that the market could falter later in the year as it has in recent years, due to potential risks like renewed European debt issues or a slowing US economy.
The Federal Reserve announced "Operation Twist" to lower longer-term interest rates by selling short-term Treasuries and buying long-term ones. While interest rates declined as intended, stocks fell over 6% due to fears of a Greek default, global financial crisis, slowing growth in China, and declining copper prices indicating weaker global growth. Dividends have provided over a third of the S&P 500's total return over 80 years and can enhance returns and provide stability, especially in a low interest rate environment.
Prices Down Again in San Francisco - February/March Real Estate ReportAMSI, San Francisco
Prices for both single-family homes and condos/townhomes were down year-over-year in January across most districts in San Francisco. Median home prices dropped 13.1% compared to last January while condo prices fell 11.8%. However, home and condo sales were up 72.1% and 5.4% respectively due to increased lower-priced property sales. The Federal Reserve held interest rates steady at their most recent meeting in February and mortgage rates have remained stable, around 4%.
This document provides an overview and forecast of the California real estate market in 2010. It summarizes key economic indicators such as GDP, unemployment, housing permits, and consumer spending. It also reviews housing market data including home sales, prices, inventory levels, and distressed property sales at the state and regional levels. The document concludes with survey results on home buyer and seller trends including first-time buyers, mortgage types, and price discounts.
The document summarizes the real estate and economic outlook presented by Lawrence Yun, Chief Economist for the National Association of Realtors. It finds that while the housing market has improved from the downturn, with home sales and prices rising, it remains below historic averages. The outlook predicts further gains in home sales, prices, and construction in 2012-2013, supported by job growth, low interest rates, and improving affordability. However, risks like fiscal policy uncertainties could still negatively impact the recovery. Commercial real estate transaction volumes and rent growth are also expected to continue strengthening.
The document discusses trends in the US multifamily market in 2009. It summarizes that the global financial crisis severely impacted US employment, with job losses moderating but unemployment remaining high. Apartment vacancy rates increased across many markets due to job losses, but were highest in the Sunbelt and Western markets. Rent growth remained positive in many major coastal markets that saw smaller job losses. Overall, the apartment sector was expected to see rising vacancies in 2010 before occupancy begins recovering in 2011 as the economy and job market improve.
Wolf LLC is a real estate investment company that acquires multi-family apartment buildings and other properties in growing markets across the US. The company was founded one year ago and has already made several large purchases. Wolf's competitive advantage lies in its ability to unite investors to make wise, long-term investments that build communities. The business plan outlines strategies to attract more investors and partners, identify promising properties, conduct thorough analysis of deals and markets, and implement an exit strategy. The document argues that now is a good time to invest in the US due to low interest rates, a strengthening dollar, and high demand for multi-family housing.
Mark Obrinsky at the Apartment Strategies ConferenceDavid Covucci
The document discusses the economic and apartment market outlook in May 2010. It suggests that while the economic recovery appears to be underway based on GDP and job growth, there is uncertainty around whether growth will be sustained or if recent indicators only reflect temporary strength. It also notes that job and income growth are critical to increasing renter household formation and apartment occupancies. Overall apartment vacancies are forecasted to enter a rapid recovery after stabilizing in 2010.
The document summarizes the strong performance of the stock market in the first quarter of 2012, with the S&P 500 rising 12% which was its best start since 1998. Analysts attributed the gains to an easing of Europe's debt crisis, a strengthening global economy, rising US consumer sentiment, and supportive Federal Reserve policy. However, some warn that the market could falter later in the year as it has in recent years, due to potential risks like renewed European debt issues or a slowing US economy.
Median Home Price Stays Over $1MM - July/August Real Estate ReportAMSI, San Francisco
The San Francisco real estate market remains extremely strong. The median home price has stayed over $1 million for 15 of the past 17 months and homes are selling quickly within 26 days on average. In June, the median home price increased 8.5% year-over-year while home sales were up 11.6% from the previous June. The condo market also saw year-over-year growth, with the median price up 12.8% and sales gaining 1.9% from May. Inventory remains low contributing to high prices and competitive bidding situations.
The Robb Fleischer’s Real Estate Report – Local Market Trends San Francisco includes monthly updates regarding mortgage rates, market statistics, sales momentum, pricing momentum, trends at a glance, foreclosure statistics and more.
The document summarizes the reaction of markets to a recent agreement by European leaders to address the sovereign debt crisis. It notes that stock prices rose significantly as investors were relieved by the three-point deal involving Greek debt relief and boosting the bailout fund. However, details remain unclear and challenges loom with the U.S. debt panel deadline approaching. Overall investors were in a relief rally but surprises can still occur as with sudden market moves or unexpected weather, much like the forecasting abilities of analysts and meteorologists.
Home Prices Resume Upward Trend - May/June Real Estate ReportAMSI, San Francisco
The Robb Fleischer’s Real Estate Report – Local Market Trends San Francisco includes monthly updates regarding mortgage rates, market statistics, sales momentum, pricing momentum, trends at a glance, foreclosure statistics and more.
This document summarizes a presentation given by Lawrence Yun at the NAR Midyear Meetings on May 17, 2007. The presentation discusses trends in local real estate markets and forecasts, showing data on housing prices, sales, construction jobs, mortgage rates and delinquencies, and economic indicators in different cities and regions. It also lists the top markets for growth and global livable cities. The key message is that the housing market needs to be analyzed at the local level as conditions vary significantly between areas.
The Robb Fleischer’s Real Estate Report – Local Market Trends San Francisco includes monthly updates regarding mortgage rates, market statistics, sales momentum, pricing momentum, trends at a glance, foreclosure statistics and more.
The document discusses the Paseo Verde development project in Philadelphia, PA. Paseo Verde is a transit-oriented development near Temple University that focuses on green infrastructure and LEED certification. It includes both affordable and market-rate housing, as well as retail/commercial space. The project has received political and community support, partnerships with public agencies, and significant public subsidies. It serves as a demonstration for green and transit-oriented development strategies.
Goldman Sachs Presentation at the Credit Suisse 2009 Financial Services Confe...Manya Mohan
The document summarizes Goldman Sachs' presentation at the 2009 Credit Suisse Financial Services Conference. It provides an overview of Goldman Sachs' 2008 financial highlights including net revenues of $22.2 billion, net earnings of $2.3 billion, and return on equity of 4.9%. It then discusses Goldman Sachs' performance excluding fair value losses and credit valuation adjustments. The presentation also reviews Goldman Sachs' business segment performance from 2003-2008 and provides details on risk management and capital management. It emphasizes Goldman Sachs' conservative financial positioning and liquidity and funding. Finally, it outlines future opportunities for Goldman Sachs going forward.
This document provides an investor presentation for Washington Real Estate Investment Trust (WRIT) for the first quarter of 2012. It discusses WRIT's strategic initiatives including exploring the sale of its medical office division and ramping up apartment development. It highlights the company's investment opportunities including its long history and expertise in the stable Washington DC market. The presentation provides an overview of WRIT's property portfolio, recent transactions, 2013 financial guidance including a forecasted core FFO range, and dividend discussion. It also reviews the positive demographics and federal government influence that drive the strength of the Washington DC real estate market.
The 2016 National Multifamily Housing Council Annual MeetingPatrick Borchard
Since 2011, Patrick Borchard has served as chief financial officer at Pangea Properties, a real estate investment trust (REIT) with Class B and C apartment complexes located in Illinois, Indiana, and Maryland. Active in the property development and management sector, Patrick Borchard maintains affiliations with such organizations as the National Multifamily Housing Council.
Kirk Monroe, Vectra Bank
Pat Coyle, Colorado Division of Housing
Carl Koelbel, Koelbel & Co.
Heidi Majerik, Forest City Stapleton
Susan Powers, Urban Ventures LLC
Renee Martinez-Stone, Perspective 3
This document provides an overview of the key aspects of being a real estate entrepreneur presented by Vikas H. Lagoo. The three major aspects discussed are the commercial, financial, and technical aspects. Under the commercial aspect, factors like the land such as size, shape, and zoning are discussed. The financial aspect covers investment costs, funding sources, and rate calculations. Finally, the technical aspect outlines planning, execution, and maintenance considerations such as appointing contractors and ensuring quality control and customer satisfaction.
The document summarizes an investment fund called the AIF Opportunity Fund that aims to capitalize on undervalued real estate assets during a period of unprecedented opportunity. The fund will be managed by experienced real estate professionals from Agricap Financial and Sterling Pacific Financial and will enable investors to collectively acquire, improve, and resell distressed real estate assets for long-term returns. Example opportunities mentioned include raw land, partially completed projects, and real estate-backed notes purchased at discounts.
U.S. core real estate funds provide international investors with:
1. Immediate diversification across major U.S. markets and property types.
2. Steady income from high occupancy properties.
3. High transparency thanks to the widely used NCREIF ODCE benchmark index.
Leverage Your Multifamily Real Estate Business through Systems, Tools, and Pe...HomesPro from Homes.com
The document discusses leveraging a real estate business through systems, tools, and people. It describes Linda McKissack's approach of helping overworked entrepreneurs gain freedom and passive income. It provides examples of job descriptions and systems for different roles in a real estate business, including the owner, administrative assistant, transaction coordinator, and maps people. It emphasizes the importance of both business and leadership leverage through developing talented people and effective systems and tools.
This document provides an overview of REI Capital LLC, a private real estate investment fund. The fund is managed by experienced real estate investors Bob Malecki and Wendy Ceccherelli. They acquire undervalued residential and multifamily properties in growth markets, renovate them, and generate returns for investors. The fund seeks $5 million in capital with a 12-month minimum commitment. It aims to provide preferred returns to investors and distribute equity gains after expenses. The managers' experience and network allow them to thoroughly evaluate investment opportunities.
Distressed Multifamily Opportunities: Who Will Be the First to Jump In, and Who Will Follow? by Mike Kelly, President, Caldera Asset Management. Presented at GreenPearl Events' Distressed Real Estate Summit Chicago on May 13, 2010.
This document summarizes key drivers of the multifamily housing market according to the National Association of Real Estate Investment Trusts. Three main factors drive household formation: demographics, the business cycle, and pent-up demand. Multifamily housing construction remains below pre-crisis levels despite low vacancy rates and rising rents, pointing to continued demand. Homeownership rates have returned to their historical average after peaking in recent decades.
Blackstone is a global investment firm that manages over $350 billion in assets. It invests in over 100 portfolio companies across industries with the goal of improving performance and creating value. Blackstone launched a global purchasing initiative leveraging its scale to create strategic partnerships. It partnered with ADP to provide centralized payroll management for its portfolio companies, replacing over 14 payroll systems with a single global solution to increase efficiency, compliance and data visibility. Implementing ADP's system helped standardize processes and reduce costs while ensuring legal and tax compliance across countries.
Hankun Law - Cross Border US China Fund Formation and Investment 11172016Rui Ma
Cross-border Fund Formation, VC/PE Investment & Transaction Risk Management
From the event:
https://uschina-investment.eventbrite.com
Sponsored by:
East West Bank
WI Harper Group
Median Home Price Stays Over $1MM - July/August Real Estate ReportAMSI, San Francisco
The San Francisco real estate market remains extremely strong. The median home price has stayed over $1 million for 15 of the past 17 months and homes are selling quickly within 26 days on average. In June, the median home price increased 8.5% year-over-year while home sales were up 11.6% from the previous June. The condo market also saw year-over-year growth, with the median price up 12.8% and sales gaining 1.9% from May. Inventory remains low contributing to high prices and competitive bidding situations.
The Robb Fleischer’s Real Estate Report – Local Market Trends San Francisco includes monthly updates regarding mortgage rates, market statistics, sales momentum, pricing momentum, trends at a glance, foreclosure statistics and more.
The document summarizes the reaction of markets to a recent agreement by European leaders to address the sovereign debt crisis. It notes that stock prices rose significantly as investors were relieved by the three-point deal involving Greek debt relief and boosting the bailout fund. However, details remain unclear and challenges loom with the U.S. debt panel deadline approaching. Overall investors were in a relief rally but surprises can still occur as with sudden market moves or unexpected weather, much like the forecasting abilities of analysts and meteorologists.
Home Prices Resume Upward Trend - May/June Real Estate ReportAMSI, San Francisco
The Robb Fleischer’s Real Estate Report – Local Market Trends San Francisco includes monthly updates regarding mortgage rates, market statistics, sales momentum, pricing momentum, trends at a glance, foreclosure statistics and more.
This document summarizes a presentation given by Lawrence Yun at the NAR Midyear Meetings on May 17, 2007. The presentation discusses trends in local real estate markets and forecasts, showing data on housing prices, sales, construction jobs, mortgage rates and delinquencies, and economic indicators in different cities and regions. It also lists the top markets for growth and global livable cities. The key message is that the housing market needs to be analyzed at the local level as conditions vary significantly between areas.
The Robb Fleischer’s Real Estate Report – Local Market Trends San Francisco includes monthly updates regarding mortgage rates, market statistics, sales momentum, pricing momentum, trends at a glance, foreclosure statistics and more.
The document discusses the Paseo Verde development project in Philadelphia, PA. Paseo Verde is a transit-oriented development near Temple University that focuses on green infrastructure and LEED certification. It includes both affordable and market-rate housing, as well as retail/commercial space. The project has received political and community support, partnerships with public agencies, and significant public subsidies. It serves as a demonstration for green and transit-oriented development strategies.
Goldman Sachs Presentation at the Credit Suisse 2009 Financial Services Confe...Manya Mohan
The document summarizes Goldman Sachs' presentation at the 2009 Credit Suisse Financial Services Conference. It provides an overview of Goldman Sachs' 2008 financial highlights including net revenues of $22.2 billion, net earnings of $2.3 billion, and return on equity of 4.9%. It then discusses Goldman Sachs' performance excluding fair value losses and credit valuation adjustments. The presentation also reviews Goldman Sachs' business segment performance from 2003-2008 and provides details on risk management and capital management. It emphasizes Goldman Sachs' conservative financial positioning and liquidity and funding. Finally, it outlines future opportunities for Goldman Sachs going forward.
This document provides an investor presentation for Washington Real Estate Investment Trust (WRIT) for the first quarter of 2012. It discusses WRIT's strategic initiatives including exploring the sale of its medical office division and ramping up apartment development. It highlights the company's investment opportunities including its long history and expertise in the stable Washington DC market. The presentation provides an overview of WRIT's property portfolio, recent transactions, 2013 financial guidance including a forecasted core FFO range, and dividend discussion. It also reviews the positive demographics and federal government influence that drive the strength of the Washington DC real estate market.
The 2016 National Multifamily Housing Council Annual MeetingPatrick Borchard
Since 2011, Patrick Borchard has served as chief financial officer at Pangea Properties, a real estate investment trust (REIT) with Class B and C apartment complexes located in Illinois, Indiana, and Maryland. Active in the property development and management sector, Patrick Borchard maintains affiliations with such organizations as the National Multifamily Housing Council.
Kirk Monroe, Vectra Bank
Pat Coyle, Colorado Division of Housing
Carl Koelbel, Koelbel & Co.
Heidi Majerik, Forest City Stapleton
Susan Powers, Urban Ventures LLC
Renee Martinez-Stone, Perspective 3
This document provides an overview of the key aspects of being a real estate entrepreneur presented by Vikas H. Lagoo. The three major aspects discussed are the commercial, financial, and technical aspects. Under the commercial aspect, factors like the land such as size, shape, and zoning are discussed. The financial aspect covers investment costs, funding sources, and rate calculations. Finally, the technical aspect outlines planning, execution, and maintenance considerations such as appointing contractors and ensuring quality control and customer satisfaction.
The document summarizes an investment fund called the AIF Opportunity Fund that aims to capitalize on undervalued real estate assets during a period of unprecedented opportunity. The fund will be managed by experienced real estate professionals from Agricap Financial and Sterling Pacific Financial and will enable investors to collectively acquire, improve, and resell distressed real estate assets for long-term returns. Example opportunities mentioned include raw land, partially completed projects, and real estate-backed notes purchased at discounts.
U.S. core real estate funds provide international investors with:
1. Immediate diversification across major U.S. markets and property types.
2. Steady income from high occupancy properties.
3. High transparency thanks to the widely used NCREIF ODCE benchmark index.
Leverage Your Multifamily Real Estate Business through Systems, Tools, and Pe...HomesPro from Homes.com
The document discusses leveraging a real estate business through systems, tools, and people. It describes Linda McKissack's approach of helping overworked entrepreneurs gain freedom and passive income. It provides examples of job descriptions and systems for different roles in a real estate business, including the owner, administrative assistant, transaction coordinator, and maps people. It emphasizes the importance of both business and leadership leverage through developing talented people and effective systems and tools.
This document provides an overview of REI Capital LLC, a private real estate investment fund. The fund is managed by experienced real estate investors Bob Malecki and Wendy Ceccherelli. They acquire undervalued residential and multifamily properties in growth markets, renovate them, and generate returns for investors. The fund seeks $5 million in capital with a 12-month minimum commitment. It aims to provide preferred returns to investors and distribute equity gains after expenses. The managers' experience and network allow them to thoroughly evaluate investment opportunities.
Distressed Multifamily Opportunities: Who Will Be the First to Jump In, and Who Will Follow? by Mike Kelly, President, Caldera Asset Management. Presented at GreenPearl Events' Distressed Real Estate Summit Chicago on May 13, 2010.
This document summarizes key drivers of the multifamily housing market according to the National Association of Real Estate Investment Trusts. Three main factors drive household formation: demographics, the business cycle, and pent-up demand. Multifamily housing construction remains below pre-crisis levels despite low vacancy rates and rising rents, pointing to continued demand. Homeownership rates have returned to their historical average after peaking in recent decades.
Blackstone is a global investment firm that manages over $350 billion in assets. It invests in over 100 portfolio companies across industries with the goal of improving performance and creating value. Blackstone launched a global purchasing initiative leveraging its scale to create strategic partnerships. It partnered with ADP to provide centralized payroll management for its portfolio companies, replacing over 14 payroll systems with a single global solution to increase efficiency, compliance and data visibility. Implementing ADP's system helped standardize processes and reduce costs while ensuring legal and tax compliance across countries.
Hankun Law - Cross Border US China Fund Formation and Investment 11172016Rui Ma
Cross-border Fund Formation, VC/PE Investment & Transaction Risk Management
From the event:
https://uschina-investment.eventbrite.com
Sponsored by:
East West Bank
WI Harper Group
This document provides an overview and analysis of 11 top multi-family real estate companies. It describes each company's business model, portfolio details, locations, competitors and categorization based on the type of multi-family housing properties they handle. The companies range from focusing on luxury apartment communities to affordable housing. Key details are provided for each company's sales, number of properties, services offered and future expansion plans.
Urban Capital Partners is launching the UCP Rescue Capital Fund I to invest in commercial real estate facing maturing CMBS debt between 2014-2017. The $2 million fund will target office and multifamily properties in Southeast and Mid-Atlantic markets needing capital restructuring or asset repositioning to generate returns above 20%. The general partner will seek 5 deals annually and co-invest 5% of the fund's equity to capitalize on abundant distressed assets facing maturing commercial mortgage backed securities loans.
Everything You Need to Know About Small Multifamily LendingIvan Kaufman
Ivan Kaufman shares with you everything you need to know about small multifamily lending. As a national direct lender that provides debt capital for the multifamily and commercial real estate industries, Arbor partnered with Fannie Mae to develop the first ever agency Small Balance Mortgage Loan program two decades ago. In this presentation you will what small multifamily loans are, how to find the right small balance loan to fit your needs, and more.
Arbor Small Multifamily Report Q1 2020Ivan Kaufman
The nation’s rental market has a total of 41.9 million renter-occupied housing units as of 2018, according to the U.S. Census Bureau’s latest American Community Survey. Small multifamily, which includes apartment properties of 5 to 49 units, represented 33% (13.7 million units) of the total rental market.
Did you know the U.S. Census Bureau reported that the homeownership rate reached 64.6% at the end of 2018, the highest level since the third quarter of 2014? Increasing millennial demand was one of the biggest trends influencing the housing market. We complied an overview of US economic trends for Q1 2019.
US Banking Industry Analysis | Valuation and Performance | Aranca Articles an...Aranca
After analyzing the fundamentals and valuations of big banks simultaneously, it can be concluded that US banks have strengthened fundamentally over the last six years. Learn more about US banking industry growth and performance.
The Federal Reserve Chairman Ben Bernanke outlined two major risks facing the US economy: 1) the ongoing Eurozone fiscal and banking crisis and its potential effects on the US, and 2) the unsustainable path of the US fiscal situation including the looming "fiscal cliff". While the US has little control over Europe, the fiscal cliff is within Congress's power to address. If no action is taken, the automatic spending cuts and tax increases could throw the economy back into recession according to estimates. Bernanke stated the Fed is ready to take further action if needed to support the recovery.
ClearPath Investment Perspectives - Nov 17 2014bcdconna
The document is a weekly investment newsletter from ClearPath Capital Partners dated November 17, 2014. It provides an overview of the US and global economic outlooks, recent market performance, and commentary on stocks, bonds, and consumer spending. Global GDP and inflation are forecast to increase in 2014 and 2015. US GDP is expected to grow 2.9% in 2014 and stock markets posted gains last week, with the S&P 500 up 7.21% for the month. Retail sales rose slightly in October and lower gas prices are expected to boost consumer spending.
Arbor Single Family Rentals Report 2020 Q1Ivan Kaufman
Unsurprisingly, COVID-19 is the unavoidable and overarching theme across all areas of commercial real estate - the singe family rental (SFR) sector is no exception.
Annie Williams Market Report May-June 2016Jon Weaver
The median price for lofts/townhomes surged 15% in April from March. It was up 4.5% year-over-year. The average price just missed tying the all-time high by $500. After an incredible rise in sales of both singlefamily, re-sale homes and lofts/townhomes in March, sales declined in April, which is unusual. But, there's just not a lot of inventory. Combine that
with the incredible demand, and it's no wonder prices are surging.
Annie Williams Real Estate Report - November 2020Jon Weaver
Home Sales Continue to Rise
Sales of single-family, re-sale homes rose again in October, gaining 10.5% year-over-year. They were up 22% from September. There were 283 homes sold in San Francisco last month. The average since 2000 is 214. Year-to-date, home sales are down 7.2%. Condo sales are down 14.4%.
The document provides an overview and forecast of the 2014 commercial real estate market from K.C. Conway, Chief Economist at Colliers International. Conway predicts GDP growth will slow in the first half of 2014 but employment growth will continue below 200k per month. He also expects interest rates to remain volatile between 2-4% and debt capital to remain attractive. Conway notes the industrial real estate market will be influenced by the expanded Panama Canal and potential port labor strikes. Houston's commercial real estate market is highlighted as strong, with the city expected to absorb new multifamily supply and benefit from continued energy sector job growth.
The document provides an overview and forecast of the 2010 California commercial real estate market. It summarizes that the US and California economies will see weak growth tied to stimulus spending through mid-2010, with a slow job recovery. The California housing market hit bottom in early 2009 and inventory is decreasing, but affordability remains high. The commercial real estate sectors of industrial, retail, office, and multifamily will see rising vacancies through 2010-2011 before starting to recover, with multifamily recovering earliest. Financing remains difficult due to the moribund commercial mortgage backed securities market. The overall forecast is for a slow economic and commercial real estate recovery in California starting in 2010.
The document summarizes a weekly commentary from Hyre Weekly dated April 23, 2012. It discusses how corporate earnings in the US have overtaken concerns about the European debt crisis as the focus of investors. While most US companies reported better than expected earnings, earnings growth was only 3.7% compared to a year ago. Interest rates increased again in troubled European countries like Spain and Italy, suggesting their debt problems remain. The commentary concludes by noting the interconnection of global markets and how European problems could eventually impact the US.
These are noted economist Hugh Johnson's slides from his presentation to University at Albany MBA students, alums, and guests on May 28 regarding his forecast for the rest of 2014 and 2015.
Annie Williams Real Estate Report Sept-Oct 2016Annie Williams
It looks like the market is moderating after the frenzy of last year. The sales price to list price ratio for homes, which is a good indicator of demand, while still over 100%, has gone from being over 110% for most of last year to under 110% for most of this year.
Slide presentation from Gary Keith, vice president and regional economist for M & T Bank, who assessed the key economic indicators for 2008 and talked about what’s in store for our region in 2009 at the Greater Syracuse Chamber of Commerce's 2008 Economic Forecast Luncheon.
This document summarizes an economic conference held by the Federal Reserve Bank of St. Louis on October 15, 2014. It discusses current economic conditions in the US and Arkansas. The US economy is seeing steady job growth and falling inflation and unemployment. However, a stronger dollar and weaker global growth could impact exports. In Arkansas, farm income decreased while farmland values fell slightly. The latest survey suggests Arkansas farmland prices may have peaked. Regional economic growth has exceeded the national average, though job growth in Arkansas has been half the national rate and incomes remain below average.
Outlook 2015 - Making Sense Of The MarketsPhil Caulfield
As we approach year end, you may be wondering:
What can we expect to happen in the US Markets and the economy and how will that affect rates and house prices?
At Opes Advisors, our CEO Susan McHan has been working with our Chief Investment Officer, Mark Duvall, CFA® to help answer that question and we’ve just completed our “Outlook 2015: Making Sense of the Economy and the Current Markets.” I thought it would be beneficial to you to hear some of our current perspective.
________________________________________
Our Outlook for Interest Rates
As the graph below indicates, we have been experiencing a long term downtrend in interest rates since 1982. The rise in rates in 2013 followed by the drop in 2014 is consistent with a sideways trending market. We believe that short-term interest rates will rise slowly while longer-term interest rates will remain in a tight range below 3.2%. We expect the Fed to raise short-term rates in the first half of 2015 and longer-term rates to rise gradually.
Rates today are still low relative to long-term historical levels and within the average range of the past 3-4 years. This is important, as interest rates are a significant factor in determining home affordability. With interest rates remaining low, national and regional home affordability remains high.
Our Overall Outlook
Beyond interest rates, “Outlook 2015” captures our perspective on the following topics:
• What is our Economic Outlook for 2015 and beyond? What factors do we watch to inform our perspective?
• What factors informed our Interest rate Outlook and what factors determine whether they will rise or fall in the future?
• And importantly, how will the economy and interest rates impact our real estate markets, your business and your clients as we move into 2015 and beyond?
I would welcome the opportunity to share our complete Outlook with you. Please call me if you’d be interested in learning more about our Outlook and hearing a full presentation.
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AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
With a wide range of apartment types available, from 1+1 to 4+1, we have something to suit every need and budget. Each apartment is designed with attention to detail and features spacious and bright living areas, making them the perfect place to relax and unwind after a long day.
One of the things that sets Avrupa Konutlari Esentepe apart from other developments is our focus on creating a community that is both comfortable and convenient. Our homes are surrounded by lush green spaces, perfect for enjoying a peaceful stroll or having a picnic with friends and family. Additionally, our complex includes a variety of social and recreational amenities, such as swimming pools, sports fields, and playgrounds, making it easy for residents to stay active and socialize with their neighbors.
https://listingturkey.com/property/avrupa-konutlari-esentepe/
2. ARBOR.COM • 1.800.ARBOR.10 1
Ivan Kaufman - Market Update Q2 2016
$0.0
$50.0
$100.0
$150.0
$200.0
$250.0
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
YTD16
US CMBS Issuance
Source: Arbor, Commercial Mortgage Alert, Trepp
CMBS Issuance
United States, All Property Types, Billions
Through June 2016, CMBS issuance totaled $30.7 billion, an annual pace of $61.4 billion, and 44% below the $54.5 billion volume
completed through the first six months of last year. At the start of the year, issuance for 2016 was estimated to reach $100 billion, although
now those estimates have been cut substantially. For all of 2015, a total of $101.0 billion of CMBS was issued.
3. ARBOR.COM • 1.800.ARBOR.10 2
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
2016 2017 2018 2019 2020
Volume ($, Billions)
Source: Arbor, Real Capital Analytics
Total US CMBS Upcoming Loan Maturities
Billions of Dollars, As Of May 2016
Ivan Kaufman - Market Update Q2 2016
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Ivan Kaufman - Market Update Q2 2016
Source: Arbor, Board of Governors of the Federal Reserve System, ICE Benchmark Administration
Selected Interest Rates
The Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent. The stance of monetary policy
remains accommodative, thereby supporting further improvement in labor market conditions and a return to 2 percent inflation.
Monthly, Not Seasonally Adjusted
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
Jun-01 Jun-02 Jun-03 Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16
U.S. Recession 10-Year Treasury 30-Year Mortgage Rate Federal Funds Rate LIBOR 1-Month U.S. Dollar
5. ARBOR.COM • 1.800.ARBOR.10 4
Ivan Kaufman - Market Update Q2 2016
The average asking rent in the U.S. reached $1,252/unit at the end of the second quarter, a 4.1% increase over the $1,203/unit average
reported one year ago and the 27th consecutive quarter of growth. The vacancy rate finished the quarter at 4.5%, up from 4.2% one year
ago, and the highest rate in three years.
Source: Arbor, Reis
Average Asking Rent and Vacancy
United States, Multifamily
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
$800
$900
$1,000
$1,100
$1,200
$1,300
2001
2002
2003
2004
2005
2006
2007
2008
2009
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
4Q14
1Q15
2Q15
3Q15
4Q15
1Q16
2Q16
Asking Rent ($/Unit) Vacancy (%)
6. ARBOR.COM • 1.800.ARBOR.10 5
Ivan Kaufman - Market Update Q2 2016
Foreign Investment in U.S. Multifamily Properties
Volume, Billions of U.S. Dollars
$0.0
$4.4
$8.8
$13.2
$17.6
$22.0
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015*
YTD16
Source: Arbor, Real Capital Analytics
* Includes $5.4 billion purchase of Peter Cooper Village & Stuyvesant Town
7. ARBOR.COM • 1.800.ARBOR.10 6
Ivan Kaufman - Market Update Q2 2016
U.S. Recession
Source: Arbor, U.S. Bureau of Labor Statistics
Employment Growth
Total nonfarm payroll employment in the U.S. increased by 287,000 jobs in June. The largest gains were measured in leisure and hospitality,
health care and social assistance, and financial activities sectors. Employment also increased in information, mostly reflecting the return of
workers from the Verizon strike.
United States, All Employees, Total Nonfarm, Seasonally Adjusted
-900.0
-600.0
-300.0
0.0
300.0
600.0
Jun-01 Jun-02 Jun-03 Jun-04 Jun-05 Jun-06 Jun-07 Jun-08 Jun-09 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16
Monthly Change 12-Month Moving Average
8. ARBOR.COM • 1.800.ARBOR.10 7
Ivan Kaufman - Market Update Q2 2016
0
25
50
75
100
125
150
Apr-33to
Apr-37
Jul-38to
Jan-45
Nov-45to
Oct-48
Nov-49to
Jun-53
Jun-54to
Jul-57
May-58to
Mar-60
Mar-61to
Nov-69
Dec-70to
Oct-73
Apr-75to
Dec-79
Aug-80to
Jun-81
Dec-82to
Jun-90
Apr-91to
Feb-01
Dec-01to
Nov-07
Jul-09to
Current
Time Between Recessions (Months) Average
Source: Arbor, Federal Reserve Bank of St. Louis, National Bureau of Economic Research
Time Between Recessions (1933 to Current)
NBER based Recession Indicators for the United States from the Peak through the Trough, Monthly, Not Seasonally Adjusted
Longest Time Between Recessions (Apr-91 to Feb-01): 119 mo.
Average Time Between Recessions: 60 mo.
Time Since Previous Recession: 84 mo.
9. ARBOR.COM • 1.800.ARBOR.10
About Us
Founded by Chairman and CEO Ivan Kaufman, Arbor, LLC and Arbor Commercial Funding, LLC are national direct lenders
specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial
real estate assets. Arbor is a 2013 Top 10 Fannie Mae DUS® Multifamily Lender by volume, a Freddie Mac Program Plus®
Seller/Servicer and Small Balance Loan lender, an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender, a HUD-
approved LIHTC Lender as well as a CMBS, Bridge and Mezzanine lender, consistently building on its reputation for
service, quality and flexibility. With a current servicing portfolio of more than $11 billion, Arbor is a primary commercial
loan servicer and special servicer rated by Standard & Poor’s and holds an Above Average rating from Standard & Poor’s.
Arbor is also on the Standard & Poor’s Select Servicer List and is a primary commercial loan servicer and loan level special
servicer rated by Fitch Ratings.
Arbor, LLC also manages Arbor Realty Trust, a real estate investment trust, (REIT), formed to invest in mortgage-related
securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and
direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is
headquartered in Uniondale, NY, with full-service lending offices throughout the United States. For more information
about Arbor, visit www.arbor.com.
The research contained in this report should not be construed as a solicitation to and/or trade. All opinions, news,
research, analyses, prices or other information is provided as general market commentary and not as investment advice;
all information is subject to change. Arbor, its members, shareholders, employees, agents and representatives do not
warrant the completeness, accuracy or timeliness of the information supplied, and shall not be liable for any loss or
damages, consequential or otherwise, which may arise from the use or reliance on the content contained herein. Past
performance is not indicative of future performance.