About markit

This author has not yet filled in any details.
So far markit has created 11 blog entries.
4:24 pm September 24, 2013

Jim Kasten Introduces the Scottsdale Area Assoc of Realtors’ Commercial Services Committee

By | 2017-10-04T14:31:07+00:00 September 24th, 2013|

In the summer of 2012, the Scottsdale Area Assoc. of Realtors (SAAR) created the Commercial Services Committee and selected Jim Kasten, CCIM to be the chairman.  Jim is also the owner and designated broker of the very successful Kasten Long Commercial Group (www.KLCommercialGroup.com), a full service commercial real estate brokerage with [...]

4:21 pm September 19, 2013

2nd Quarter 2013 Apartment Market Update

By | 2017-10-04T14:31:06+00:00 September 19th, 2013|

KASTEN LONG COMMERCIAL GROUP:  Our Apartment Team gave a great presentation to the Scottsdale Area Assoc. of Realtors at their August commercial meeting. A video of this presentation is available upon request. KLCG had 27 transactions in Q2 including 4 apartment sales, 19 commercial sales and leases and 4 residential home [...]

12:35 pm January 7, 2013

4th Qtr 2012 MF Permitting Making Strong Comeback

By | 2017-10-04T14:31:24+00:00 January 7th, 2013|

For the past three years, the number of permits for new apartment construction averaged about 1,000/yr.  Over the past ten years, the average was 3,840/yr.  As of the 4th quarter of this year, the number of permits  jumped  to  more  than  10,000 for the year with many projects already breaking ground.  Both ASU [...]

12:34 pm January 7, 2013

4th Qtr 2012 Multi-family Vacancy Rates Drop – Rents Increase

By | 2017-10-04T14:31:24+00:00 January 7th, 2013|

For the larger (100+ unit size) apartments, vacancy rates dropped across the Valley from 6.4% in the 3rd quarter to 6.3% in the 4th.  This was the 12th continuous quarterly drop in vacancy rates for 100+ unit apartments - from a high at the end of 2009.   Rental rates continued to escalate [...]

11:28 am December 6, 2012

The Metro Phoenix Apartment Market (Q3 2012)

By | 2017-10-04T14:31:24+00:00 December 6th, 2012|

In the 3rd quarter, there were 64 regular apartment sales (10+ units) and four broken condo sales, similar volume to recent quarterly sales.  Two properties, Orange Arbor (164 u) and Pierson Place (28 u), both located in central Phoenix, reverted back to the beneficiary at trustee sale.  There were no 3rd [...]

11:33 am January 6, 2012

THE METRO PHOENIX APARTMENT MARKET – Q1 2012

By | 2017-10-04T14:31:24+00:00 January 6th, 2012|

The appetite for buying investments remains quite strong, but the number of apartment sales decreased a bit from previous quarters due primarily to a shrinking supply of product. In the 1st quarter, there were 50 regular apartment sales (10+ units) and three broken condo sales. There were no apartment communities sold [...]

11:30 am December 6, 2011

The Metro Phoenix Apartment Market (Q4 2011)

By | 2017-10-04T14:31:24+00:00 December 6th, 2011|

In the 4th quarter, there were 60 regular apartment sales (10 or more units) – similar to each previous quarter in 2011. Of these, half sold for more than $1M and 33 of the 60 were “all cash”. The 27 sales that had financing were mostly from new loans or restructured [...]

11:28 am December 6, 2011

Apartment Market Q3 2011

By | 2017-10-04T14:31:07+00:00 December 6th, 2011|

Apartment sales in the 3rd quarter were similar volume to recent quarters with 61 regular sales (10+ units), three multi-property (portfolio) sales, seven partial condo sales, and six 3rd party trustee sales.  Of the 61 regular sales, 37 had new financing, seller or existing lender financing or assumptions of existing loans [...]

11:29 am August 6, 2011

Apt Market Q2 2011

By | 2017-10-04T14:31:07+00:00 August 6th, 2011|

Apartment sales continued with strong activity – similar to the past four quarters.  For the 2nd qtr., there were 59 regular sales (10+ units), six multi-property (portfolio) sales, two partial condo sales, and four 3rd party trustee sales.  Of the 59 regular sales, 35 had either new financing or assumptions of [...]

11:30 am January 6, 2011

Apt Market Q1 2011

By | 2017-10-04T14:31:24+00:00 January 6th, 2011|

The rebound of the apartment market has started.  Sometime mid-to-late 2010 was likely the bottom.  With five consecutive quarters of declining vacancy rates and a steady increase of savvy investor pressure pushing up prices, our market is poised for continued growth.  Combine this with the lack of permitting for new apartments [...]