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Multifamily, once again, comes out the winner in commercial sector stability. Both locally and regionally, cap rates and apartment rents have remained stable. Iowa has stayed relatively immune from the creeping increase in the national unemployment rate. On a high note, the national average dropped slightly to 10.0% for November.
As of October, 2009, the Iowa Quad-City unemployment rate for Scott, Clinton and Muscatine Counties all dropped to 7.2%, 7.2% and 8.4%, respectively, and Iowa stayed the same as last month @ 6.7%, which was well below the national average.
The Illinois Quad-City rates all increased from September to October: 10.9%, 11.4%, 9.9% and 9.5% for Rock Island, Whiteside, Mercer and Henry counties; Illinois edged up slightly higher than the national average in October to 11%.
Nationally, multifamily is the only sector among major asset types which has realized stable or increased demand. It has stayed consistent and even strenghthened, therefore increasing demand for our product. Apartment vacancies have decreased or remained stable, depending on the market, as many former homeowners look for different housing options. Interest rates have been consistent, although investors are finding that the loan-to-value ratio, or the funds needed to secure a loan has increased as lenders continue tighten their lending requirements. Multifamily continues to be a sound, concrete investment.
Multifamily is my specialty; I've been in the real estate business for 30 years dedicated to apartment sales. With almost 50 years of combined experience, my sales staff, combined with our excellent support staff, are able to provide exceptional service to our clients while assisting them through the buying and selling process. We know the multifamily market and we stay current on issues that are important to our clients such as local/national/global economic issues and events, current interest rates, apartment vacancies, supply & demand issues, cost of construction, etc. We have personalized marketing plans for our clients. We utilize the multiple listing service, the internet: LoopNet, Catylist, postlets, Craigslist, CCIMNet, CoStar, local and national newspapers including the Wall Street Journal and our mailers that go out to 600+ investors.
Please feel free to browse through this site which offers direct access to the latest properties for sale in your area. Featuring extensive community information, consumer links, school information, free reports, answers to commonly asked real estate questions and more, you'll find everything about real estate within one easy source.
Whether you are a first time buyer or an experienced investor, we can help you will find useful information about how to choose the "right" property for you, making an offer, negotiating, financing, interest rates and everything involved in making an informed real estate decision in today's market.
For a list of properties that we currently have listed for sale, please view the following tabs on the left: "My LoopNet Listings" or "Current Listings".
If you do not see a property that fits your current needs, please let us know because we often find one that does. |
