Multifamily continues to come out on top in the commercial sector. The apartment market remained the strongest sector per the Nat'l Association of Realtors Research Division. Higher occupancy and increasing rents continue to be the trend. Average cap rates were highest in the Midwest region. Interest rates have continued to stay extremely low, fueling the demand for multifamily housing. Some investors are seeking out ARM's as these rates have become more competitive. Lenders continue to stay conservative with their lending requirements. Nationally, the vacancy rate for apartments is low at 4.5%, almost a full percent decrease since 2011. Locally, the vacancy rate also remains very low for Quad-City complexes.
The national unemployment rate decreased slightly to 7.7% for February, 2013. The Iowa Quad-City unemployment rate for Scott, Muscatine, and Clinton Counties were fairly consistent at 7.5%, 6.3% and 7.0%, respectively. Iowa's unemployment comes in at the 6th lowest in the United States at 5%. Illinois Quad-City rates for Rock Island County at 9.0% and Henry County at 8.5% for January; the state of Illinois was at 9.0% down .10 % from last year.
Multifamily is my specialty; I've been in the real estate business for over 35 years dedicated to apartment sales. With almost 55 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 stay current on issues that are important to our clients such as economic issues and events, interest rates, apartment vacancies, supply & demand issues, cost of construction, etc. All of our clients have a personalized marketing plan for their property (ies).
Whether you are a first time buyer, seller, or an experienced investor, we can help you with choosing the "right" property for you, making an offer, negotiating, financing, and everything involved in making an informed decision.
For a list of properties that we currently have listed for sale, please view the following tabs: "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 ones that do.