There have been news left and right of how previous homeowners are slowly turning into renters. The recent sale of a multi-family housing community provides another proof behind the truth of that news. The Courts at Fair Oaks, formerly known as The Point at Fairfax, is a 364-unit luxury multi-housing community in Fairfax, Virginia. Its sale has been closed recently by Read full article »
Archives for Multi Family
Homeowners Are Turning Into Renters In South Florida
It seems to be a trend, no thanks to the housing market crash and the recent foreclosure stoppage in most states: former homeowners are turning into renters. And South Florida is following in the trend. The area’s Boward and Palm Beach counties have been seeing fewer empty rental apartments and higher rental rates year after year. The flurry of Read full article »
category: Featured, Multi Family
Developer Lifesaver: Apartment Boom Gives Developers More Business
"Another man’s loss may be another man’s gain" – that is exactly what happened between the residential housing market and the apartment industry. Whereas property values are still declining and houses for sale remain in the market for a long time, the apartment industry is gaining more advocates as a shift from house buying to renting happens nationwide. If there’s Read full article »
Apartment Vacancies Decline For The First Time In Three Years
Almost everything in the real estate market is going down, like home sales and home prices. But here is one decline that can be taken as a bit of breather from all the bad news: U.S. apartment vacancies have dropped in the third quarter – the first in three years. This means that more and more people are deciding to Read full article »
category: Featured, Multi Family
No Smoking Even In Your Own Homes, Says Some Apartment Developers
Looking after our health is very important nowadays, not just because the economy makes it hard to be sick but also because a lot of chemicals are in the air and the food we eat that the risks of contacting sickness is higher. This is the reason some apartment complexes and condos are now banning tenants from smoking – not Read full article »
New Partnership To Yield A 275-Property Affordable Housing Portfolio
A new partnership hits the real estate market. Forming a new company, the partnership aims to provide affordable housing to as many people as possible. Low Income Housing Tax Credit industry leader Michael Costa, Highridge Partners and Citi form Highridge Costa Housing Partners to manage a portfolio amounting to $3.4 billion, consisting of 275 affordable, multifamily properties. Each one will play Read full article »
category: Featured, Multi Family
Third Quarter Surge In Rentals For The Dallas-Fort Worth Area
If you’ve been closely following the real estate business in the last few months, you would know that the money nowadays is with the apartment rental side. In the Dallas-Fort Worth area, this has never been more apparent than in the third quarter. Renters in the Dallas-Fort Worth have taken twice as many apartments in the area for the said Read full article »
Real Estate Shifts: Multifamily Starts And Permits Outnumbers Single-Family Homes
Are buyers really turned off about the current economic weakness and high unemployment rate that they choose to rent rather than own their own homes? Or is financing really hard to come buy for the single-family homes? Whatever the reason, single-family starts and permits in August have been outnumbered by multifamily numbers. The Commerce Department released a report last Tuesday saying Read full article »
tags: apartment starts, builders
Fire In Alabama Apartments Claim Lives Of Three
The housing market may be teeming with properties that sellers are unable to discard, but that does not merit misfortunes such as this: a fire in Alabama claimed ten apartment units and three lives. On the 19th of September, just after 5 AM, Birmingham Firefighters answered a two-alarm fire in Beaconview Apartments in Alabama. Birmingham Firefighters Chief C.W. Mardis shares a Read full article »
category: Featured, Multi Family
tags: Alabama, apartment fire
Rent-Controlled Units In New York Dwindling In Numbers
Rent-control has a long history, especially in New York. These days, though, rent-controlled apartment units are slowly becoming history. And, increasingly, the elderly is left clinging to these rent-controlled apartments that are cramped and rotting. Though supposedly cheap, rent-controlled apartments in New York City have turned out to be more expensive. Complains some of tenants in rent-controlled units, landlords may have Read full article »
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