Tony Callahan

Multifamily demand surged in 1H 2024, with 230,000 units absorbed, vacancy rates holding steady, and rents growing on a national basis. How did the market defy expectations amid a flood of new supply? Read more in the Mid-Year Outlook with Cushman & Wakefield’s Sam Tenenbaum: https://bit.ly/3YCpmsF #Greystone #Multifamily #MidYearOutlook #CushWake

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In times of economic volatility, the real estate market often experiences a slowdown, with new construction projects being one of the first casualties. However, an interesting trend has emerged in the landscape of commercial real estate: land sales for residential development are maintaining a surprising resilience despite market uncertainties. 📌Read More Here: https://zurl.co/7uva #NewBlog #New #NewBlogPost #LandSales #ResidentialDevelopment #CRE #ColdwellBankerCommercialCBS #CBCMT #BillingsMontana

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The least affordable metro area for America’s middle class: San Jose-Sunnyvale-Santa Clara "The San Jose-Sunnyvale-Santa Clara metro area in California is the least affordable for all middle-class income ranges in the U.S., according to the report." - To afford a house in the San Jose area, you will need to make $468,252 — the highest of all 221 U.S. metro markets surveyed in an April National Association of Realtors report. - In addition, the average San Jose home value is $1,461,923, up 10.1% over the past year, according to Zillow. - In its report, Creditnews Research warns that the San Jose-Sunnyvale-Santa Clara metro area runs the risk of becoming a “donut city” as rising costs lead to a “wave of out-migration where residents and businesses relocate to the suburbs.” https://lnkd.in/g5BP6b2X

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"Enter Assembly Bill (A.B.) 1893, authored by Assembly member Buffy Wicks (D–Berkeley) and supported by California Attorney General Rob Bonta, which aims to make the builder's remedy process more predictable and functional for #developers and a little less scary and offensive for #cities." "Wicks' bill attempts to clarify the kinds of standards local governments can apply to #buildersremedy projects, streamline project approvals, and lessen project costs. For cities, Wicks' bill would impose #density caps on builder's remedy projects and limit the areas where they could be built." A.B. 1893 has passed the California Assembly and is currently being considered by the California Senate. https://lnkd.in/ghVj-UnR

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Below are the Top 10 REITs based on REITRating™ as of today: 9.5 Terreno Realty Corp. (TRNO) 9.2 Rexford Industrial Realty, Inc. (REXR) 9.1 EastGroup Properties, Inc. (EGP) 9.1 Essential Properties Realty Trust Inc (EPRT) 9.0 Prologis, Inc. (PLD) 8.8 AMH (AMH) 8.8 Public Storage (PSA) 8.7 Agree Realty Corp. (ADC) 8.7 Rayonier, Inc. (RYN) 8.6 CareTrust REIT, Inc. (CTRE) Learn more at: https://lnkd.in/gpaC4g4Z The REIT’s score (RR) for each analysis is out of ten points, with ten being the best score and zero being the worst. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. #reits #reit #investing #money #realestate #reitrating #reitnotes

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In the latest installment of "Talking Real Estate," Sandy Mackay, Founder of MacKay Realty Network and Operating Principal at Keller Williams Legacies Realty, emphasizes the critical importance of agents reassessing their approach in today's challenging market. Sandy stresses the necessity of aligning one's lifestyle with current market conditions and warns against maintaining unsustainable practices. Key Points Increased Effort: Sandy highlights that achieving the same results as last year now requires three to five times the effort. Habit Modification: He underscores the need for agents to adapt their habits to the reality of the new market. Back to Basics: Sandy advocates for a return to fundamental practices, including: - Maintaining consistent communication with clients. - Increasing the volume of outreach calls. - Scheduling more face-to-face meetings. No Shortcuts: The real estate veteran reminds professionals that there are no quick fixes or secret formulas for success in the industry. Hard Work Prevails: Sandy reiterates that diligence and persistent effort remain the cornerstones of achievement in real estate. While potentially daunting, this reality check is presented as a necessary wake-up call for agents aiming to thrive in the current market landscape. #RealEstateProfessional #FounderInterview #CEOInterview #SoundAdvice #RealityCheck 

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Great advice from our Founder, Sandy Mackay. Thanks to You Are Your Brand Podcast and Peter G. for sharing this important message. #RealEstateProfessional #FounderInterview #CEOInterview #SoundAdvice #RealityCheck 

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Thanks for sharing this Market Report You Are Your Brand Podcast and Peter G. As our Founder, Sandy Mackay suggests, while it's technically a balanced market by the data, the influence the past performance edges it more toward a "Buyers Market" based on all the inventory and the opportunity to package your offers with all the right conditions. #MarketReport #RealEstateProfessional #BuyersMarket #HamiltonOntario #VaughanOntario

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TSMC's advanced manufacturing complex in Phoenix is getting a funding boost, thanks to the CHIPS and Science Act. What does this investment mean for Phoenix, the national Industrial market, and the semi-conductor industry? Read the article in Commercial Property Executive to hear from three JLL experts on these questions and more.

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Check Out the Latest Real Estate Update! This Week: Wed, Jun 05, 2024 📍 Location: Orange County, CA Median List Price: $2,097,000 📉 Market Action Index: 61 (Compared to last month's 63) 📦 Inventory: Holding Steady at 1,648 #OrangeCountyRealEstate #MarketUpdate #Trends #MedianPrice #InventoryStatus #InvestmentOpportunity #DreamHome #Homebuying #HousingMarket

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Apartment #REITs' Q1 results either met or surpassed expectations, with some even raising elements of their full-year guidance, as reported by GlobeSt.com. Despite supply driving a divergence in rent performance among major #multifamily REITs, the improving demand drivers and upswing in job growth are encouraging signs for the sector. https://lnkd.in/g7eiKUpC

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Although high construction loan rates have slowed new multi-family projects and increased concessions in oversupplied markets, David Fletcher, Managing Director and Head of Acquisitions at Excelsa Properties, expects the market to stabilize with reduced concessions and stronger pricing strategies as developers become more rational. Dive deeper into the latest trends in multi-family real estate with the full Multi-Housing News article on the following link: https://lnkd.in/eGRX5GKR #MultifamilyRealEstate #RealEstateInvestment #PrivateEquity #Residential #MultifamilyInvesting

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This recent CoStar News article quotes Brad Hunter, founder of Hunter Housing Economics, a firm that provides market studies for build-to-rent projects nationwide, who says that the United States will be short 63,208 build-to-rent units this year as estimated demand for the product outpaces new openings. Read the entire article here for Hunter's perspective on why BTR has a long runway ahead: https://lnkd.in/gyfRiK86 Visit https://lnkd.in/gk66A4k6 to explore NexMetro Communities' BTR investment opportunities. ***************** Build-to-rent construction gap estimated to run several years Hunter Housing study finds United States is short 63,000 units this year Demand for build-to-rent single-family houses is expected to accelerate over the next several years, a study found, even as the niche property type experiences a slowdown in openings. The sector is contending with the same capital constraints that are holding down development across the larger multifamily industry. “There's going to be a huge surge in pent-up demand 12 to 24 months from now,” Hunter said in an interview. #NexMetro #AvillaHomes #BuildToRent #BTR #MultifamilyInvestments

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