Apartment living brought Bill and Jennifer Schumacher together, with the two neighbors meeting while living at the same apartment complex in the Philadelphia area.
Homeownership in the United States hit a 19-year low in the second quarter as tight finances continued to drive Americans toward renting, one of the lasting legacies of the recession.
The Federal Reserve is considering an end to its extraordinary treasury and mortgage-backed security purchasing program, known as quantitative easing, this October. This measure has injected large amounts of currency into the economy, lowering interest rates and increasing investments. In particular, mortgage rates, which currently average 4.12 percent for a thirty-year loan, are still near their historical low of 3.31 percent set in November 2012. Relatively low rates helped spur the housing recovery, reduced interest costs and increased consumer spending in Nevada and throughout the nation.
As the “rebound effect” of investors scooping up cheap properties in the aftermath of the housing crisis wanes, job growth is now playing a bigger part in boosting home prices in U.S. metropolitan areas, according to data released Thursday from Trulia. At the same time, rent prices are increasing in markets with above-average job growth
According to a recent survey by Matrix Information, three billion people around the globe have access to Internet-based services and E-mail. In addition, this report expects electronic commerce to grow from $3.2 trillion in 2013 to $6.2 trillion by the year 2015. Is your property management company ready for these exploding communication and marketing trends? Is your leasing team ready to handle the E-mail just sent by 15 new prospects relocating from Paris or Moscow? Read the tips in this article and learn how easy it is to master E-mail and profit from it … it’s just a few keystrokes away!
Apartment dwellers are finding that today’s apartment complexes are becoming far more than just a place to hang their hats or lay their heads. Through design and amenities, the developments are increasingly catering to individual tastes while encouraging a sense of community.
The apartment vacancy rate in Las Vegas decreased by nearly one percentage point this quarter -
going from 9.7 percent in the first quarter of 2014 to 8.9 percent in the second quarter of 2014,
according to data from our apartment survey that are collected by the Center of Business and
Economic Research (CBER). The decrease in this vacancy rate was driven by occupancies in the
downtown and northern areas. The rest of Las Vegas saw vacancy rates similar to last quarter.
Overall, as figure 6 shows, the annual trend indicates that the vacancy rate is slowly decreasing.
The vacancy rate is now about 2 percent below its peak in 2009 (11 percent), but remains greater
than what it was in 2006 (4.5 percent).
With over 2.6 million apartment units updated each month, ALN Apartment Data is one of the most complete and accurate data provider available anywhere in the country. The Las Vegas Apartment Market Overview for June 2014 is now available to view.
Exciting Times for NVSAA!
Introducing Our New Billing Structure
This is a very exciting time for us! We are offering more opportunities for our members than ever in key areas: Education, Legislative, Networking.
We are also creating ways to do business better. This allows us to build upon our foundation, and facilitate future growth.
The Nevada State Apartment Association is pleased to announce a streamlined billing structure for our membership. We are moving to a calendar year membership cycle where all members will pay their dues in January and enjoy membership benefits through December of that year.
The goal is to shift our entire membership to this more efficient billing cycle by January 1, 2017.
As such, it’s important to begin the process now. Handling membership in this manner is in line with many other Associations across the country and is design designed to minimize confusion on expiration dates and make the budgeting process easier.
Our goal is to make the transition as easy as possible:
If your membership renewal falls due between September 1, 2015 and December 31, 2015. You will receive an invoice that includes the remaining months of 2015 and all of 2016. Conveniently, your membership will be paid through the end of 2016. The remaining association members expiring in 2016 will receive prorated invoices to finish out next year’s membership. This process puts us on track to begin annual billing for the association, as a whole, in 2017.
Thank you for your cooperation as we make these changes! YOU are what makes the NVSAA the premier multi-family housing association in the region. Let’s keep going and growing!
If you have questions, you can reach me at 702.862.0165
My best to you,
Shelly A. Cochran
Record-setting tourism and the strongest convention attendance in several years are driving employment growth and creating apartment demand Las Vegas. Job growth is well above the national average, spurring developers to complete projects that were mothballed since the recession. In addition, multifamily permitting is trending more than 60 percent higher as builders rush to keep up with demand for rental space. While more than 1,400 apartments have been completed during the past year, vacancy fell sharply and concession activity nearly halted on well-located properties near employment hubs. The leisure and hospitality sector is providing the biggest job gains in the economy, although more corporations are relocating to the metro due to its position as a travel destination and the lack of a state income tax. The new workers hired by these companies are choosing to rent in prime areas to the southwest of the city, close to shopping centers, freeways and the Strip. Single-family housing costs in these areas are above the metro average, spurring strong rental growth and pushing vacancy down. Tightening operations will lift rents up 3.4 percent this year, more than 100 basis points above inflation.
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