Apartment Rents Are on the Rise
You heard it here first folks. Back on September 7th 2007 I reported that we’d be seeing rents on the rise
“There is a flight to rentals in a big way right now. You get foreclosed on, you go rent. You just got out of college and barely have a job, you rent. You had a [...]
Massachusetts Residential Market Takes a Beating
The Warren Group reported today that Massachusetts housing prices worsened and both sales and values declined substantially again in March (08).
single-family homes in Massachusetts fell more than 10 percent in March, the second-steepest price drop since The Warren Group began recording prices in 1987. The last time prices declined by more than 10 percent was [...]
What Are the Best Neighborhoods for Multifamily Investment
Location, location, location right? Or is it income, income, income? Some would say you don’t have one without the other but then the competition pushes down the return. So where to invest? There are a number of good choices in and around Boston but what I’d like to do is get location down to a [...]
Making Sense of Multifamily Investing
A lot of the more seasoned multifamily investors that I know or work with have some quick “rule of thumb” evaluation of their own that they use to very quickly decide whether or not a property is worth really taking a look at. The simplest is per unit cost; some I know use cost per [...]
Another Bank Owned Property Auction Comes to Town
Hudson and Marshall is a well known REO ballroom sale type of auction company. They are advertising an REO property auction in the Boston area but they’re not yet posting any property details. Hudson and Marshall is a well known firm with some rather large bank clients. As I find out more info I’ll post [...]
Boston Apartment Building Sales Slow
You don’t have to be an economist or a statistician to see that there are a lot of apartment buildings on the market right now. Pick up tomorrow’s Globe and look in the income property section and there are more buildings listed there than I have seen in 6 years, at the same and sales [...]
ARM Resets and the End of the Crisis
There’s so much talk about subprime as the source of our woes but the fact is that there are a lot more ARMS out there then simply subprime. Subprime borrowers by definition would have the least ability to weather an ARM reset, but what about the rest of the ARM holders? In the past the [...]
Market Snapshot: Somerville, MA Multifamilies
I like to take a look on a regular basis at data and get a feel for what’s happening in real time versus just what’s being reported to me in a general sense. Tonight I looked at Somerville, MA multifamilies. This is an area where I began my career and where I’ve sold a number [...]
Top Brass Weighs in On Home Prices
The New Housing Starts numbers came out today and as you might expect they were at their lowest point since March 1991. Buried in one of the articles I was reading was a crystal ball owner, the CEO from JPMorgan Chase.
“It’s hard in almost all these mortgage areas to say exactly what’s going to happen [...]
Bay State Rents: Good News for Landlords
Bay State rents are on the rise according to two different sources.
The Boston area saw a 3.3% increase in rents over 2007 according to data compiled by Investment Instruments and their online application, rentometer. This is inline with what we would normally expect or hope for but in fact for several years rents were going [...]
