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Multifamily comes out on top in commercial sector stability. The apartment market remained the strongest among commercial sectors per the Nat'l Association of Realtors Chief Economist Lawrence Yun, who was optimistic about the commercial real estate sector.
Multifamily continues to see an increase in demand, along with higher occupancy and rents in most regions. 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 5.6%, a nice decrease from two years ago. Locally, the vacancy rate also remains very low for complexes in the Quad-Cities. Effective rent growth has averaged 4.65% for the year ending in February per Axiometrics; this has been the largest gain since 1996.
The national unemployment average dropped to 8.3% for February 2012. The Iowa Quad-City unemployment rate for Scott, Muscatine and Clinton Counties all stayed low with 7.2%, 6.8% and 6.3%, respectively. Iowa's rate decreased to 5.3%, which has consistently stayed below the national average. Illinois Quad-City rates have stayed relatively the same for the year. With Rock Island staying close to 9.1% unemployment for 2012.
Multifamily is my specialty; I've been in the real estate business for over 34 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 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. All of our clients have a personalized marketing plan for their property(ies). We utilize the multiple listing service; the internet: LoopNet, Catylist, postlets, Craigslist, CCIMNet, CoStar; local, regional and national newspapers including the Wall Street Journal and our promotions that go out to investors all over the U.S.
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.
The widely respected J.D. Power and Associates 2011 Home Buyer/Seller Study℠ has recognized RE/MAX agents for providing the ?Highest Overall Consumer Satisfaction For Home Buyers and Home Sellers Among National Full Service Real Estate Firms.
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 ones that do.
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