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Posts Tagged ‘real estate markets’

Chattanooga saw high rent growth in 2011

February 2nd, 2012

Data from Reis analytics firm indicates that Chattanooga, Tennessee ranked third in apartment rent increases during 2011.

Former Chattanooga Apartment Association president Becky Brooks reportedly told the Chattanooga Times Free Press that new business and industry moving into the area is the root cause, bringing jobs and activity. In particular, Volkswagen has hired 2,500 people over the past three years, according to the news source, while local suppliers have added more.

All those workers need somewhere to live, and property management companies and owners in the area have reportedly benefited from a 3.8 percent increase in effective rents during 2011, compared to 2.3 percent for the nation as a whole. There was reportedly an increase of 1.3 percent during the last quarter of the year, which Reis’ Brad Doremus described as strong growth.

The average effective rent was $625 a month, still well below the national average of $1,009 a month despite the growth – according to Reis. This may also have played a part in attracting residents. Brooks also noted that, of those who have the option of buying a home, many see it as an unwise investment and prefer to rent.

A Look at the Housing Market in Fresno

June 11th, 2010

photo credit: Allan Ferguson

There are now only a little over five hundred thousand residents at a median income of around 35k living in Fresno, CA. The housing market is considered by many residents and Realtors alike to be the most reasonable in the entire state of California. The housing market is also considered to be a modest one. The median home price is around $200k, with many being listed for around $100k. Although this makes the housing market more active than in many parts of the state, buyers may wind up in bidding wars for REO properties. Many of these properties are currently listed at or below $100k and investors and traditional home buyers alike are rushing to take advantage of this. The homes in most of Fresno are considered more mid level in design and location as opposed to high end homes.

There aren?t very many homes on the market right now in Fresno. In March of this year, there was less than two thousand homes on the market. That?s a small listing inventory, compared to the rest of California. With only a small number of homes being on the market, it?s truly the right time for a traditional seller to list their home. Realtors are also finding that those who are fortunate enough to have a high FICO score, are not having a very hard time getting loan approval. Many of these home buyers are also able to purchase their Fresno home with only a 5% down payment. The community boasts a very relaxed atmosphere for most of it?s residents and is located in the heart of California. The populace is very diverse as well. If you buy a home in Fresno, you?re only a short drive from recreation spots like Kings Canyon and Yosemite park. You?re also very close to Los Angeles and San Francisco. With the Fresno housing market being well below the market in relation to the aforementioned premier cities, it?s really a great option to purchase a home now, if you desire to live in California.

A Look At The Housing Market in Seattle

May 25th, 2010

photo credit: brewbooks

Seattle is best known for start up companies that have gone to the top of the charts and for being a community of artists as well as musicians. For many years Seattle has been ahead of it’s time in being diverse and recognizing and celebrating the talents of different peoples and cultures. While this has been a big draw to those wanting to raise a family in such a great place, the actual weather in Seattle, with its constants rains and often dreary skies has been a bit of a deterrent. So let’s examine how has the Seattle real estate market is doing currently?

Well Seattle is on the map to participate in the first nationwide realtors open house. On April 10th and April 11th there will be open houses nationwide and the hundreds of homes on sale in Seattle will be part of this group. This is a push to get sellers interested in what’s out there in Seattle and to make purchases quick. Later this month we?ll be able to draw some conclusions as to whether this massive push to create interest in the real estate market in Seattle was a success, inconsequential or a failure.

It is estimated that there will be sales of close to 15 hundred homes in the month of April. That is better than most markets in the U.S. There has however been a 24% increase in foreclosed homes on the Seattle market. However analysts say that the month of April is truly the bottom for Seattle and there’s only success and continued growth from here. That’s extremely encouraging as many metropolitan areas are still very shaky and few are apt to make such strong predictions.

The increase in traffic to Seattle open houses, even before the nationwide open house push, is as good indication that Seattle’s real estate market is strong and will gain momentum. Many in the Seattle real estate market are encouraging those who want in, to buy now before home prices become out of reach. Yes, Seattle’s real estate market is doing quite well.

Seniors Get Help Selling

March 15th, 2008

credit: JOE M500An interesting trend is coming out of the housing slump that has seniors reaping some unexpected benefits. Developers, whether out of greed or generosity, are offering a variety of services to the elderly to help them sell their old homes and move into the developer’s new buildings.

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Top Real Estate Markets for 2008

February 8th, 2008

The pundits on the nightly news may be talking about a recession and foreclosures may be at an all-time high, but that doesn’t mean there aren’t any growth markets for real estate in the United States. “Forbes” Magazine has just released their picks for the top ten housing markets in the US. The list may surprise you.

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