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‘The Accidental Economist’ with Jack Kern: Property Prices and Fly Fishing
Sometimes I wonder if it says “kick me” on the back of my suit. I’ve been following property prices and talking to a number of colleagues about trends in apartment, retail and industrial and for some reason on at least two occasions the conversation turned to fly-fishing. I don’t know anything about fly-fishing. In fact, the only time I tried it, it took a while to pick the flies (the hook kind, not the buzzing kind) out of my lucky fishing shirt. (All real estate people have lucky fishing shirts. Go on, just ask them). Inevitably there seems to be…
‘What Renters Want’ with Jessica Fiur: ‘Reality’ TV (Or How We Learned to Stop Worrying and Love Real Estate Shows)
We accept the fact that reality TV isn’t actually real. Of course there’s editing involved. And the contestants are usually manipulated into situations where there’d be the most drama. Most of the people are just acting up for the cameras to get the most air time so they can parlay their B- and C-list fame into a book deal or brand of cocktails. I’m sure once the cameras are turned off, The Situation and J-Woww have a spirited debate about the national debt, as they are wont to do. And that’s fine. Actually, that’s more than fine. That’s escapism, baby….
‘The Accidental Economist’ with Jack Kern: The Shadow Inventory is Neither
In what I can only characterize as an interesting turn of events, the well-respected firm Corelogic released a report that indicated a reduction in “shadow” inventory by 1.5 million units, which translates to roughly four months’ supply. This represents, according to Corelogic, about one half of the number of housing units currently in serious foreclosure or REO status. Since this presents some good news, I found it to be odd that the oft-used term “shadow” keeps coming up. The unstated presumption in the release was that this is an inventory bound for rental and probably not re-sale, otherwise it wouldn’t be…
‘What Renters Want’ with Jessica Fiur: What’s on Your Apartment ‘Laminated List’?
There’s an episode of Friends where Ross and Rachel are making lists of famous people, who, in the unlikely case that they meet them, are allowed to have affairs with them and not get in trouble with their significant other. Ross even goes so far as to laminate his list. And a lot of people make their own “laminated lists.” Do you have one? Who’s on it? OK, I’ll stop being nosy. Anyway, if this “Get out of jail free” rule is available in relationships (even if it’s unlikely you’ll ever get an opportunity to use it), I think it…
‘What Renters Want’ with Jessica Fiur: How to Throw the Perfect Summer Party (Your Residents Would Actually Attend)
I hate to say it (actually I don’t hate to say it–it gives me blog fodder), but sometimes parties for apartment residents are lame. Like grab-a-slice-of-pizza-and-a-handful-of-fun-sized-Snickers-and-run-back-to-your-own-apartment lame. But summer is coming, which provides you with the perfect opportunity to make peace with the ghosts of apartment parties past. Here are some tips to help you throw the perfect summer party for your residents. One that they’d actually come to—and enjoy. Go outside. If you have outdoor space, like a rooftop or a pool (duh), have your summer party there. Way more enjoyable than a lobby, and people will be able…
‘The Accidental Economist’ with Jack Kern: Swimming Your Way to Prosperity
I get a lot of sale flyers by email from all of the brokerage firms. I suspect you’re on the same list and have seen a pretty big increase in sale activity. According to Real Capital Analytics there is a pretty substantial uptick in transaction volumes on a year over year basis. What I find interesting is the way the sale flyers have changed over the years. In the 1980s, the average person weighted in at about 160 pounds, at least for air traffic planning purposes. There was that one time I flew on Air Wisconsin (it was a bring…
‘What Renters Want’ with Jessica Fiur: What to Do When You Can Hear Your Neighbors
One good thing about living in an apartment is that when things go bump in the night, it’s probably just your neighbor walking around, and not a deranged killer wearing a William Shatner mask and brandishing a butcher knife. Of course, one bad thing about living in an apartment is that when things go bump in the night, it’s your neighbor walking around. Hearing your neighbors’ TV, music, arguments, whatever, is one of the worst parts of living in an apartment. Developers, take note: People would probably trade the luxury amenities in your building just for thicker walls. This is…
‘The Accidental Economist’ with Jack Kern: Market Selection and Brainy Pursuits
In an age of increasing sophistication and complexity in placing capital in multifamily apartments it seems we have a pretty paranoid view of markets. The only difference these days between a real estate research forecaster and a weatherman is that people will talk to a weatherman at a party. In real estate research, hardly a day goes by without the release of yet another Oracle from Everywhere offering a view towards what’s happening in a market. It seems not only “Dallas Does Well” sells but also “Cincinnati is Sinking” and “Lucky in Louisville.” To be honest, it is shocking to…
‘What Renters Want’ with Jessica Fiur: Is Your Apartment Like ‘The Avengers’?
This weekend, I finally was able to go see The Avengers. It was just as full as explosions, witty quips and plot holes as one could have hoped for. Anyway, even if it’s not going to win any Oscars, it definitely was a lot of fun. And it’s perfect to model an apartment community after. Seriously. Here are five things you can take away from The Avengers for a more successful apartment community. Have the “You got chocolate in my peanut butter,” You got peanut butter in my chocolate” effect. The Avengers took a bunch of things that are good alone…
‘What Renters Want’ with Jessica Fiur: What Do You Do If Your Residents Have Dangerous Pets?
Recently, my husband and I took a weekend trip to wine country. While driving around trying to find a vineyard, our GPS took us to a parking lot. We were meant to drive over a bridge, but it was closed due to construction. There was a dirt road, though, behind a bank. “Let’s just take it,” I said and drove on. “Our GPS will adjust and lead us from there.” Ignoring the “private property” and “do not enter” signs, we drove on, like every cliched teenager in the first five minutes of a horror movie. At the end of the…