The 234 Apartment

caption Sellers rejoice. source Justin Sullivan/Getty Images Homebuyer demand is surging in many markets across the US, sending home prices skyward . Even though the number of home sales are slightly down this summer, the national median home price rose 6 .5% year-over-year to an all-time high of $263,800 in June, according to the National Association of Realtors (NAR). “The demand for buying a home is as strong as it has been since before the Great Recession,” said NAR chief economist Lawrence Yun . “Listings in the affordable price range continue to be scooped up rapidly,” he said, “but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.” In a new report, GOBankingRates examined home prices for the 100 most populous markets using Zillow data, comparing prices in each market for June 2016 and June 2017. Overall, 19 cities saw a median home price increase of more than 14% in the last year, and an average incr...

Multifamily sales totaled $147 million in the Buffalo area market in 2016, up from $127 in 2015 and again above the $ 100 million dollar level achieved each of the last five years.  The investment market is most active in suburban garden apartment complexes . Private locally based principals were active as both buyers and sellers with prices at all-time high per unit valuations . These older apartment properties comprise the majority of the existing inventory and are often fully occupied with rising rents. From a tenant perspective they are often the best housing available at a given price. Located in dense residential neighborhoods , they are near employment, shopping, entertainment and within desirable suburban school districts . It would be impossible to duplicate them today in the same locations with the same rent structure and consequently they have little competition in their price range. This drives the rent growth that attracts investors. In April of 2017, RENTCafe’s surve...

Halifax Regional Police are warning apartment hunters to steer clear of clever scam artists posing as military personnel online .  Watch for "posts from someone in the military looking for a renter to take care of a residence while away overseas, gone away for deployment or anything like that," said Det. David Comer with the integrated financial crime unit . More ads like this will start popping up on Kijiji and Craigslist in the next couple of weeks, he said, particularly as university students return to the Halifax and are looking for last-minute rentals. The ads are aimed at convincing would-be renters to send a damage deposit or rent. The problem is there's no apartment. Here are some ways to avoid falling victim . 1. Photos or verbal agreements If a landlord or owner is unavailable to show the property, Comer said that's reason to be wary. Potential renters should be concerned if there are only photos or verbal agreements in place. Sending deposits without act...

AvalonBay Communities, Inc. (NYSE:AVB) Q2 2017 Earnings Call August 03, 2017 1:00 pm ET Executives Jason Reilley - AvalonBay Communities, Inc. Timothy J. Naughton - AvalonBay Communities, Inc. Sean J. Breslin - AvalonBay Communities, Inc. Matthew H. Birenbaum - AvalonBay Communities, Inc. Kevin P. O'Shea - AvalonBay Communities, Inc. Analysts Nicholas Joseph - Citigroup Global Markets , Inc. Nick Yulico - UBS Securities LLC Richard Allen Hightower - Evercore ISI Juan Sanabria - Bank of America Merrill Lynch Andrew T. Babin - Robert W. Baird & Co., Inc. Austin Wurschmidt - KeyBanc Capital Markets , Inc. Dennis Patrick McGill - Zelman & Associates Wes Golladay - RBC Capital Markets LLC Alexander Goldfarb - Sandler O'Neill & Partners LP Vincent Chao - Deutsche Bank Conor Wagner - Green Street Advisors , LLC Richard Hill - Morgan Stanley & Co. LLC Robert Stevenson - Janney Montgomery Scott LLC Operator Good morning, ladies and gentlemen, and welcome to AvalonBay...