Tuesday, July 31, 2012

Energy Trust of Oregon Offers Cash Incentives for Multifamily T12 Lighting Upgrades

Now is the time to change antiquated T12 fluorescent fixtures to energy-efficient light fixtures. Federal legislation requires new efficiency standards for the manufacturing of linear fluorescent lamps as of July 14, 2012. Energy Trust offers cash incentives to customers of Portland General Electric and Pacific Power for upgrading T12 fixtures to high-performance T8 or T5 lamps with electronic ballasts. Incentives range from $20 to $42 depending on the size of the existing fixture. Efficient lighting upgrades lower energy usage and have one of the quickest payback periods of efficiency improvements, ranging from one to three years, particularly when combined with Energy Trust incentives. Take control of your energy costs. For more information, contact an Energy Trust representative at 1.866.368.7878 or visit www.energytrust.org for more information.

For all the latest apartment listings click here to visit HFO's exclusive listing website.

Monday, July 30, 2012

U.S. Census: Portland / Vancouver Multifamily Vacancy Rate Q2 2012 is 5.8%

The U.S. Census Bureau reports Portland's vacancy rate rose from 4.2% in Q1 2012 to 5.8%, landing it in the middle of the pack of the nation's vacancy rates among the top 75 U.S. Metropolitan Statistical Areas (MSAs).

Seattle-Tacoma-Bellevue, WA had a Q2 2012 vacancy estimate of 3.2 percent, down from 7.5 percent a year earlier.

The nation's 10 lowest vacancy rates were as follows:

  • Bakersfield, CA - 0.7%
  • Worcester, MA - 0.8%
  • Oxnard-Thousand Oaks-Ventura, CA - 1.1%
  • Rochester, NY - 1.4%
  • Fresno, CA - 2.4%
  • Allentown-Bethlehem-Easton, PA-NJ - 2.5%
  • Grand Rapids-Wyoming, MI - 2.9%
  • San Francisco-Oakland-Fremont, CA - 3.2%
  • Seattle-Tacoma-Bellevue, WA - 3.2%
  • San Jose-Sunnyvale-Santa Clara, CA - 3.5%
  • Denver-Aurora, CO - 4.1%

The MSA's with the five highest vacancy rates were as follows:

  • Richmond, VA\28 - 14.9%
  • Tampa-St. Petersburg-Clearwater, FL - 15.5%
  • Tucson, AZ - 16.2%
  • Memphis, TN-AR-MS - 16.5%
  • New Orleans-Metairie-Kenner, LA - 21.3%
  • Orlando, FL - 21.3%

Wednesday, July 25, 2012

Apartment Investments in Portland and Surrounds Traded by HFO Multifamily Brokers for $23 Million

HFO Investment Real Estate (HFO) is pleased to announce recent sales of apartment investment properties in excess of $23 million. HFO recently sold The Meridian in Salem for $8.5 million, Hawthorne 44 in SE Portland for $5.5 million, Tamarack Village in Vancouver for $2.875 million, Griffin Court on SE Division for $1.589 million and Brackney Estates in Beaverton for $4.975 million. Read more.

Click to visit HFO's website to see all our current listings.

Portland Apartments Being Added Without Parking: Neighbors Worried

The Oregonian reported some neighborhoods have a growing concern over apartments being developed without parking.
The number of projects that will not have parking has caused such consternation that the Bureau of Planning and Sustainability recently sent out a fact sheet to help neighbors and community groups better understand zoning laws and other city policies that allow developers to build apartments without parking. This summer, two city bureaus will survey car ownership rates and usage at apartment buildings and condo projects that provide little or no on-site parking.
Read the full story at Oregonlive.

Tuesday, July 24, 2012

Apartment Investments in Portland Going Strong According to Holliday Fenoglio Fowler Report

A Multi-Housing Pulse report released by the Commercial Real Estate lender Holliday Fenoglio Fowler highlights Portland as one area of the country doing exceptionally well in the apartment market. The report cites:

  • REIS vacancy rate report for Q1 2012 of 2.4 percent
  • Delivery of only 71 units in 2011 with population growth of 41,000
  • Oregon's second highest growth rate in GDP from 2011 to 2011 with a Gross Domestic Product rate of 4.7%
  • Portland metro has been creating new private-sector jobs adding 11,500 new jobs (1.37 percent) as of April 2012
  • Compared to 2010 and 2011 institutional investors are reportedly accounting for around 30% of the buyer pool
Download the full report.

Portland Apartment Investors - Here's a Free City of Portland Perk You Should Know About!

The City of Portland offers a program called Enhanced Safety Properties. Owners who participate get a huge perk from the city that other property owners don't get! Check out our interview with program manager Stephanie Reynolds to learn more.

Multifamily Marketing Using Social Networks and Mobile Devices Proceeding at Warp Speed

In the latest edition of Units Magazine is an article about the swift adoption by the multifamily industry of marketing strategies tailored to social networking and mobile devices. Read the full article.

Tuesday, July 17, 2012

REIS Reports National Vacancy Rates Below 5% With Portland at 2.2%

"With overall vacancy below this level, it appears that rents are beginning to accelerate,” according to Reis Senior Economist Ryan Severino. This is only the third time in Reis’s 31 year history that the national vacancy rate has fallen below 5 percent. Read the full story on National Real Estate Investor.

Meanwhile for Portland, REIS reported the Rose City and surrounds are enjoying a 2.2 vacancy rate, second only to the Big Apple.

Monday, July 16, 2012

Gen Y Moving From Mom and Dad's to Apartments Soon?

Harvard University's "State of the Nation's Housing" report revealed that 2 million 18-34 year olds moved back with parental units between 2006-2010. That leaves #multifamily experts thinking the Generation Y housing boom is all set to happen...just as soon as the job market picks up. Read More.

Thursday, July 12, 2012

Portland Second Lowest US Multifamily Vacancy Behind New York City

Oregonian Reporter Elliott Njus reports that the real estate analytics firm REIS reports Portland's Apartment vacancy rate is 2.2 percent, just slightly behind New York City, at the nation's second lowest. Click here to read more.

Monday, July 9, 2012

Apartment Rents Rise Most Since 2007 - Vacancies Fall

REIS reports that all 79 top U.S. Markets see effective rents for apartments rise at 2 percent or more. Read More.

Apartment Laundry Rooms: What Renters Expect and Want Most

While the very provision of laundry services is something that can boost the appeal of your property, proper maintenance and renovation of this amenity is quite important. Read more at this month's Multi-Housing News Online.

Tuesday, July 3, 2012

Apartment Investments Across the US Do Well Second Quarter

The Numbers are out for multifamily investment properties for the second quarter of 2012 and MFP research says things are still looking good.

Monday, July 2, 2012

National Apartment Occupancy At Lowest Rate Since 2006

Nationally, effective rents increased 0.74% from April to May. Year-to-date (YTD) growth remains very similar to the past two years, with the national data set up 3.29% YTD. Read the full press release from Axiometrics.