Dennis Cisterna’s Post

🌆 City vs. Suburbs: The Rental Game is Changing! 🌆 Here's something interesting about where people are choosing to live and rent homes: city centers are catching up to the suburbs in terms of how much people pay in rent. This is a big change from when the pandemic first hit, and more people preferred living in the suburbs. 🔑 Quick Facts: * City Center Rents: Right now, rents in city centers have almost leveled with those in the suburbs, after taking a big hit during the pandemic. * Rent Changes: In March, city rents decreased slightly by about 0.7%, while rents in the suburbs stayed the same. How Full Are Apartments? About 93.3% of city apartments have people living in them, which is pretty close to the 94% in suburban apartments. 📊 Why This Matters to You: * Investment Tips: Since city and suburban rents are becoming similar, it might be a good time to think about investing in city properties again, especially in places like Milwaukee’s Downtown/Shorewood or Central Cleveland where rents are actually going up. * Opportunities: If you're looking to invest, this could be the perfect time to look at both city and suburban properties since both are doing well. 👀 What’s Next? Seeing city and suburban areas performing similarly suggests things are stabilizing, making it a great time to check out new investment chances in these areas. At 7fold Realty Advisors, we’re always watching these trends to help our investors make smart choices and find the best opportunities. #RealEstateInvestment #CityVsSuburb #RentalTrends #MarketInsights #7foldRealtyAdvisors

In multifamily real estate, "Tenant Mix" refers to the variety or composition of tenants occupying a property. It encompasses the types of residents or renters living within a multifamily complex, such as apartments or condominiums. The tenant mix can vary in terms of demographics, income levels, lifestyles, and needs. A diverse tenant mix can mitigate risk, ensure stability in rental income, foster community dynamics, and optimize the use of amenities. It allows for a diverse range of tenants, ensuring a vibrant atmosphere and maximizing the use of shared spaces. This approach also ensures consistent cash flow and maintains occupancy despite economic challenges. _

3 Reasons To Be Optimistic About New York City Residential Real Estate: 1) MANHATTAN IS ALREADY REBOUNDING FROM THE COVID POPULATION DIP: The US Census Bureau shows that the population in Manhattan is now increasing once again. The fears that people would no longer want to live in the city were short-lived; it simply didn't play out as expected. 2) THERE IS AN ONGOING HOUSING SHORTAGE: New construction has "slowed to a trickle" according to Business Insider, with no signs of improvement. Estimates show we need 560,000 new homes by 2030 to meet current and future demand, and highlights just how drastically home construction lags behind demand for people who want to live in the city. Lack of inventory will certainly drive up prices for apartment owners. 3) RENTS ARE WAY UP & VACANCIES ARE WAY DOWN: The vacancy rate for rental apartments is 1.4%, the lowest since 1968 according to the New York Times. Rents, not surprisingly, remain at or near all-time highs. Renters who can afford to buy look to do so when rents get too high, which is expected to drive up market values for owners of apartments. #nycrealestate #nycrealestateagent #betonnyc

Over the past week I had the privilege of attending the NAIOP South Sound Economic forecast, where Skylar Olsen, Chief economist at Zillow made the point on how the stabilization of U.S. rent growth at just over 3% year over year, slightly below the long-term average, will make it tough for renters to find stability and budget for the future. This not only however holds an effect in the residential market but holds implications for the commercial real estate industrial market. The steadier rent growth provides tenants and businesses with a more predictable environment for budgeting, fostering stability in the rental market. However, the prolonged period it now takes the median household to save for a home down payment due to higher costs could result in an extended renting phase, impacting both residential and commercial real estate dynamics. Investors in the commercial real estate market must closely monitor these trends, balancing the positive aspect of stable rental income with considerations of broader economic factors influencing property demand. With factors such as inbound migration, population growth, and their effects on GDP exerting significant influence on both sectors, there is a surge in inbound migration or a rise in population, it triggers an increased demand for housing. This surge leads to extensive residential development, subsequently attracting commercial endeavors. Businesses, responding to the growing population's needs, tend to establish themselves in these areas, giving rise to new commercial spaces like shopping centers, offices, and other amenities. Furthermore, the economic expansion resulting from population growth stimulates consumer spending, fostering a positive environment for the commercial real estate market. Increased economic activity contributes to GDP growth, benefiting the industrial market as well. As population growth and migration generate a demand for additional employment opportunities, commercial and industrial spaces are developed to accommodate new businesses, which contributes to overall economic vitality. The interconnectedness also extends to infrastructure development, with rising populations necessitating enhancements in transportation networks and utilities spurs further growth in the commercial real estate sector, especially in areas where new infrastructure projects are planned. Summed up, keeping your eye on both residential and commercial going forward could be the edge no one is gonna talk about #development #commercialconstruction #commercialrealestate #industrial

Build-to-Rent Construction is on the rise in major cities like Phoenix, Dallas, and Houston. This trend is fueled by key factors impacting the housing market: - Rising Housing Costs: Homeownership expenses are soaring in urban areas, making mortgages unattainable for many. - Changing Demographics: Millennials and Gen Z renters prioritize flexibility and community living, gravitating towards vibrant neighborhoods with urban conveniences. - Economic Shifts: Amid market fluctuations, Build-to-Rent properties are seen as stable investments, offering steady cash flow and resilience. What are your thoughts about this trend? #RealEstate #BuildToRent #HousingMarket #Investing #PropertyInvestment

Introduction: 🌴 Florida Surpasses New York in Real Estate Value 🏙️💹 Florida’s ascent to the position of the second most valuable housing market in the United States, overtaking New York and sitting just behind California, is a tale of demographic shifts, economic trends, and changing preferences in the U.S. real estate landscape. The Beginnings: Early Market Dynamics 🏡📈 Historically, the U.S. housing market has been dominated by states with large populations and significant economic activities. California, New York, and Florida have long been at the forefront due to their economic size, cultural influence, and attractive living conditions. Major Developments: Florida’s Rise 🚀🌊 Recent data from Zillow reveals a seismic shift in the U.S. housing market: • Florida’s Surge: With a total residential market value of $3.810 billion, Florida now outpaces New York, valued at $3.650 billion. • Key Drivers: Florida’s growth is fueled by a significant population increase, leading to new construction and heightened competition for existing properties. • Top Metropolitan Areas: Miami emerges as the fifth most valuable metropolitan housing market, reflecting Florida’s growing dominance. The Modern Context: Why Florida? ☀️📊 Several factors contribute to Florida’s real estate boom: • Population Growth: Attracted by warm weather, lower taxes, and flexible remote work options, more people are moving to Florida. • Economic Factors: Florida’s housing market has seen a 4.3% increase in value, while traditionally dominant states like California and New York saw declines. • Changing Preferences: The pandemic accelerated trends like remote working, leading many to choose lifestyle over proximity to traditional work hubs. Conclusion: The Future of Real Estate Markets 🤔🔮 Florida’s rise in the real estate market hierarchy signifies more than just a shift in property values; it reflects changing American preferences and demographics. It poses the question: What other states could follow Florida’s path? Call to Action: Join the Discussion 🗨️💬 What are your thoughts on Florida surpassing New York in the real estate market? Do you see this as a temporary shift or a long-term trend? Share your insights and experiences. #RealEstateTrends #FloridaRise #HousingMarketAnalysis #Florida https://lnkd.in/gTE28wEX

Article originally posted on CoStar on June 7, 2024 Though the Phoenix metropolitan area maintained its position as one of the top 10 fastest-growing markets in the country last year, population gains were uneven throughout the Valley. The latest data from the U.S. Census Bureau, which measures resident changes from July 1, 2022, to July 1, 2023, for cities and towns throughout the nation, The areas that registered the highest year-over-year percent increase were those in Pinal County and the West Valley. Both of these regions offer a relatively lower cost of living, greater land affordability for housing and commercial development, and emerging local economies. The Valley’s affordable west-side suburbs have been another population magnet. Goodyear, Buckeye, Surprise and Wickenburg all ranked in the top 10 among the Valley’s fastest-growing cities last year. These areas have emerged as a critical link in national supply chains, and industrial development has surged for big bomber warehouses, particularly along the Loop 303 corridor. Meanwhile, the Southwest Valley recently became the top multifamily construction submarket in Phoenix as developers look to capitalize on demographic-fueled demand. About 6,100 units are underway here, outpacing traditional construction hot spots such as Downtown Phoenix and Tempe. population growth in the years to come. #housing #homesforsale #homeownership #homebuyers #homeowners #nar #realestate #sold #homesellers #homesweethome #kw #kwrealty #westvalley #surpriseaz #goodyearaz #buckeye #peoriaaz #glendaleaz #newhomesales #newhomeconstruction #newbuildhomes #newbuild #builders #housingmarket #housingmarketupdates #marketdata #newhomesales #homebuying #avondale #Litchfield #realtor #realtorlife #arizonarealestate #infrastructure #transportation #technology #community #people #future #commercialrealestate #sustainable #respect #multifamily #design #community #property #jobs #development #project #help #developer #success #veterans

Did you know? According to the Real Estate market data, analyisis and forcasting, Rochester is ranked as the #3 hottest housing maket forcasted in 2024. Roc locals can attest to the beautiful scenery and diverse culture located in the Finger Lakes region, but as the market continues to adjust, Rochester remains strong in their values. Check out this quote directly from Realtor.com! "Affordability, a strong job market, and quality of life make Rochester an enticing market for home hunters in 2024. The region offers a cost-effective housing market with a variety of housing options, making it an ideal choice for both first-time buyers and families. As of October 2023, its median listing price was 41.2% below the national median. Rochester boasts a diverse economy, with opportunities in high-knowledge industries like healthcare, education, government, and manufacturing, along with a thriving arts and cultural scene. Its unemployment rate is projected to be 3.6% at the end of 2024, lower than the national expected rate of 4.2%. Residents can enjoy a high quality of life with numerous parks, recreational activities, and access to the stunning Finger Lakes region, known for its natural beauty. The area is also home to renowned educational institutions and a sense of community that emphasizes work-life balance, making Rochester an appealing destination for those seeking a balanced, affordable, and culturally rich lifestyle." Click the link to read the full report, or reach out to learn more about the value of your home and surrounding areas! https://lnkd.in/gczdAsWy

Orlando, FL | A Magnet for Out-of-State Residents and Investors As someone studying and navigating real estate markets around the country, I've experienced firsthand the pull of Orlando, Florida. The City Beautiful is not just a moniker but a testament to the city's growing appeal among in-state and out-of-state residents alike. Recent census data and relocation trends underscore this attraction, with Orlando climbing the ranks to become the third most popular destination for long-distance moves in 2023. This surge is driven by general affordability in housing prices, averaging $394,950, starkly contrasting with the soaring $500,000 in Miami. Furthermore, Orlando's real estate market has seen a staggering 72.3% increase in value since 2019, reaching a valuation of $382 billion as of June 2023. But what truly sets Orlando apart? Beyond the numbers, it's the lifestyle and amenities that resonate with many, including myself and my family. From the proximity to pristine beaches to a plethora of entertainment and recreational opportunities, Orlando offers a balanced blend of affordability and quality of life. This is especially appealing to the millennial generation, many of whom are migrating from high-cost states like New York and California in search of starter homes that don't break the bank. As an Orlando resident with a keen eye on market trends and investment opportunities, I see Orlando's growth not just as a trend but as a significant shift in how and where people choose to live and invest. The city's ability to attract a diverse population while maintaining its charm and relative affordability is a testament to its potential for sustained growth and investment opportunities. Considering a move or investment in Central Florida? Orlando's evolving landscape offers a compelling narrative of growth, value, and opportunity.

The Sun Belt’s Popularity Continues To Rise.... ☀ I read this blog from explodingtopics.com and I thought it was very interesting. 📕 As Americans shift out of big cities, one destination they are moving to is the Sun Belt. The Sun Belt stretches from California to North Carolina and encompasses 18 southern states in between. Approximately 75% of the country's population growth in the past 10 years has been concentrated in the Sun Belt States. The region is also becoming increasingly more attractive to younger professionals due to lower taxes and more affordable housing prices and rent. Additionally, even the biggest Sun Belt cities offer more space compared to the top US metro areas such as New York. The growth has not been limited to single-family homes but has also translated to multifamily housing and commercial real estate. Two major Sun Belt metro areas, Dallas and Tampa are ranked in the top ten US cities with the most real estate potential. However, it is Austin that was anticipated to see the most real estate growth in the US in 2021, followed closely by Phoenix and Nashville, according to Zillow. On the other hand, major metropolitan areas, like New York, Philadelphia, and San Francisco were among the worst real estate markets in the country in 2021. Do you agree?