Report: Multifamily Marketplace Outlook 2017

The multifamily marketplace will continue to be propelled by growth in property values and rents in 2017, according to Yardi® Matrix's recently released Market Outlook report. The report, "Can the Good Times Keep Rolling?" projects that multifamily market fundamentals in most metropolitan areas will remain positive, even as rental growth slows.
 
"2017 is shaping up to be the biggest year for new supply since the financial crisis," the report states. "Demand for multifamily is poised to remain robust for years."

The prospect of new federal tax cuts, infrastructure spending and reduced business regulations could stimulate the economy, although potential tariffs and uncertainty surrounding the incoming administration’s policies could temper that growth, according to the report.
 
View the full report here.

For more information, please visit www.yardimatrix.com.

For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact us at 866-977-7623.

Reprinted with permission from RISMedia. ©2017. All rights reserved.


Hopes High as Home Builders Encouraged by New Administration

Home builders have high hopes for the year ahead, anticipating a solid real estate market while being encouraged by the promises of a new administration.
 
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) posted 67 this month, a decrease of only two points from December 2016, with the measure of "buyer traffic" at 51, the measure of "current sales conditions" at 72, and the measure of "sales expectations" at 76. An above-50 reading indicates more builders have a positive outlook than a negative one.
 
"Builders begin the year optimistic that a new Congress and administration will help create a better business climate for small businesses, particularly as it relates to streamlining and reforming the regulatory process," said Granger MacDonald, NAHB chairman, in a statement on the Index.
 
The current cost of complying with regulations is constraining construction businesses to the detriment of new housing stock, which remained severely limited at the beginning of the year. The shortage is especially pronounced in the starter home segment, which is preventing first-time homebuyers from entering the market. Lessening the burden could open up more build opportunities, alleviating demand.
 
Still, approximately 40 percent of those recently surveyed by the Associated General Contractors of America organization are "worried" that regulations will bear down further in the future.
 
"While the new administration and its stated policy objectives offer many reasons for optimism, there is a significant risk to the industry if the new Congress and administration under-deliver," Stephen Sandherr, CEO of the organization, said in a recent statement. "If plans to invest in infrastructure, reform healthcare laws and roll back regulations are delayed, many contractors will likely scale back their plans to expand headcounts."
 
Nearly three-quarters of construction businesses expect to hire more contractors in 2017, according to the AGCA, with the majority planning to grow between 1 and 25 percent. A lack of younger contractors is a factor, with the NAHB estimating the median age in the sector at 42.
 
"Concerns going into the year include rising mortgage interest rates, as well as a lack of lots and access to labor," said Robert Dietz, NAHB chief economist.

For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact us at 866-977-7623.

Reprinted with permission from RISMedia. ©2017. All rights reserved.


Buying a Home in Winter? What to Look for

By Maria Patterson

While spring and early summer reign as peek home-shopping seasons, there’s no good reason why you can’t find that perfect house in the middle of winter, too. In fact, you might even get a good deal from homeowners who are anxious to sell as soon as possible and don’t want to wait for the spring thaw.

Looking at homes in winter, however, requires a different strategy, so consider the following before you start your search:

– Winter weather may prevent you from getting a good sense of a home’s yard, particularly, if it’s covered in snow. Make sure you’re informed as to the exact size of the plot, patios and decks, and ask your agent to show you pictures of the yard and home’s exterior in the spring and summer, if there aren’t any posted online.

– Ditto for the landscaping. If gardens are a high priority for you, find out which perennials, bulbs, shrubs and flowering trees are planted on the property, and whether or not the owner maintained a vegetable garden. This will give you a sense of what will emerge come spring and what your options are for further gardening endeavors.

– While you can experience the quality of the home’s insulation and heating system first-hand in the winter, you won’t be able to get a feel for the central air. Find out how old the system is, when it was last maintained and make sure the inspector takes an especially close look.

– The natural lighting in a home can be drastically different in winter compared to summer. Take time to notice the number of leafy trees on the property to get an idea of how much shade cover there will be when summer arrives. This will also give you a sense of the leaf clean-up job on deck for fall.

– In cold or inclement winter months, when people tend to hibernate indoors, you may not get a full sense of the neighborhood. Ask the agent about the number of and age range of children in the neighborhood, how active the community is, common traffic patterns and noise level.

The good thing about buying a home in winter is that you’ll be all moved in and ready to enjoy the warm weather when it rolls around. So throw on an extra layer and start your search!

For more real estate information, including a FREE Home Market Analysis and Market Area Statistics, please contact us at 866-977-7623.

Reprinted with permission from RISMedia. ©2017. All rights reserved.