http://www.mikebolen.com Multifamily Real Estate News and Views Thu, 27 Nov 2008 08:06:14 +0000 http://backend.userland.com/rss092 en Broad based declines in the prices of existing single-family homes across the United States continued into the second half of 2008, cementing a trend that prevailed throughout the first half of 2008, according to the recently released S&P/Case-Shiller Home Price Indices report. "The downturn in residential real estate prices continued, with ... http://www.mikebolen.com/170/home-price-declines-continues-into-the-second-half-of-2008/ RE/MAX Napa Valley   The city of Napa is now experiencing an apartment vacancy rate of 1.6 percent, which is fueling increased rents.   Just three years ago in 2005 the vacancy rate peaked at 5.6 percent. Last year in 2007, the vacancy rate was 2.6 percent. Population growth, credit tightening, surging foreclosures and ... http://www.mikebolen.com/157/remax-napa-valley-multifamily-real-estate-vacancy-update/ Here is a quick market snapshot of available multifamily investments in Napa Valley and Sonoma county. There is excellent value in apartment buildings throughout Napa Valley & Sonoma from the "Pits to the Ritz". In addition RE/MAX Napa Valley offers pre-foreclosure lists for multifamily investments in Napa, San Francisco, Marin, ... http://www.mikebolen.com/144/napa-sonoma-multifamily-inventory-update-from-remax-napa-valley/ Essex Property Buys Santa Cruz Complex The Silicon Valley / San Jose Business Journal Essex Property Trust Inc. has bought the Chestnut Street Apartments in Santa Cruz for $22.1 million. The 96-unit garden-style complex was built in 2002 and is located near the ocean and the University of California Santa Cruz. The ... http://www.mikebolen.com/139/santa-cruz-multifamily-sells-for-22-million/ In July of 2008 we witnessed the sale of 23 Napa county multifamily units. For August we see nearly a 50% reduction in sales to 12 units all with “special” attributes which skewed prices upwards and none were true multifamily investor deals. Here is a breakdown: August 2008 Napa County multifamily ... http://www.mikebolen.com/132/august-multifamily-sales-update-by-remax-napa-valley/ Here at the RE/MAX Napa Valley office, RE/MAX Cornerstone I am often asked by my multifamily clients what are the current lending rates for multifamily. My preferred lender is offering the following deals. Here at RE/MAX Napa Valley we have referred many multifamily buyers to our preferred lender. If you ... http://www.mikebolen.com/129/remax-napa-valley-extends-multifamily-lending-advice/ For multifamily investors nationwide, concerns about falling rents and rising vacancy has resulted in a decline in prices for apartment buildings. The "capitalization rate," which measures the relationship between the price and cash flow of properties, increased yet again this time one-quarter of one percent from the second quarter of ... http://www.mikebolen.com/123/multifamily-apartment-owners-still-seeing-cap-rate-creep/ Foreclosure filings were reported on 72,285 California properties in July for the highest total among the states, according to a report released Thursday. Foreclosure notices on small and medium size multifamily surged to record highs too. RE/MAX research said California's foreclosure activity increased 5 percent from the previous month and was ... http://www.mikebolen.com/108/bank-foreclosures-up-427-in-california-multifamily-not-immune/ Here at the RE/MAX Napa Valley office, RE/MAX Cornerstone the company has created a press release to announce the affiliation of me, Mike Bolen, Armando Lincoln and Ken Dunbar to the new RE/MAX Napa Valley office, RE/MAX Cornerstone. Our three person commercial team was ranked by the North Bay Business ... http://www.mikebolen.com/84/remax-napa-valley-adds-three-commercial-agents/ Pre-foreclosures hit record highs in July 2008 both nationally and in 14 states and the District of Columbia according to new figures from ForeclosureS.com, California-based foreclosure information specialists.   "So far this year, more than 1.25 million Americans faced the risk of loosing their homes to foreclosure, up 7.3% from June 2008, ... http://www.mikebolen.com/77/time-to-buy-multifamily/