Blog
‘Foong on Finance’: Capitol Hill Opinion Coalescing around MBA’s GSE Framework?
The Mortgage Bankers Association’s (MBA) proposed plan for the future of the GSEs may be well received by the Obama Administration.
‘On the Ground’ with Eric Brown: Are You Overpaying for Rental Leads?
By expanding your online presence, a lot of your apartment leads can be, and should be, coming to you for free.
‘Foong on Finance’: Affordable Housing Sector Awaits Obama Budget
President Obama’s State of the Union speech does not seem to be a speech that is particularly underpinned by a conservative economic philosophy. One has to watch the President’s actions, and await the release of the Administration’s budget proposal in a few weeks, to see his intentions. At the annual National Housing Conference and New York Housing Conference luncheon in December, speakers were not optimistic about the prospects for funding for affordable housing in the current environment, and were girding themselves for tougher times ahead. More funding cannot be expected; only level funding at best. President Obama, who proposed…
‘The Accidental Economist’ with Jack Kern: NMHC Has Great Parties
I just got back from the National Multi Housing Council’s annual apartment festival, and to tell you the truth, I had a great time. For one thing, I never saw so many ruby slippers on acquisition and development guys, wandering around waiting to click their heels together to end up in Kansas. Apparently off-market and non-core deals are becoming all the rage as yield meets cornfields and the wide-open plains. Being a St. Louis boy (go Cardinal nation), I suppose that it’s only fitting that the Midwest somehow ended up being part of the acquisition binge again. Did I mention…
‘On the Ground’ with Eric Brown: Social Media Marketing for Apartments Is about the Numbers, Part Two: Blogs
Blogger Eric Brown shares insight as to how to get people talking about your community.
‘Foong on Finance’: Rising Interest Rates Torpedo Acquisition Deals
The multifamily acquisitions market became a buyer’s market as early as the beginning of last year. Cap rates for apartment properties have now slid back down to levels last seen in the mid- to late-2000s. For example, cap rates are 5.5 percent in certain California locations and in New York City, says Nathan Collier, founder and chairman of the Collier Companies. Collier spoke at a session last week at the National Association of Home Builders’ International Builders’ Show. Speakers at the session, which addressed the acquisition of multifamily properties, suggested that rising interest rates (which have increased by as much…
Social Media Marketing for Apartments Is about the Numbers
The social media gurus tell us that social media marketing is about listening to the customer, engagement and a variety of other soft metrics. The growth of social media has impacted the way organizations communicate. With the emergence of Web 2.0, the Internet provides a set of tools that allow people to build social and business connections, share information and collaborate on projects online. Social media marketing programs center on efforts to create content that attracts attention and encourages readers to share it with their social networks. A corporate message spreads from user to user and presumably resonates because it is coming…
‘Gimme Shelter’ with Daniel Gehman: Walkability
There is a great deal of discussion to be heard these days about “walkability” and “walkable neighborhoods.” Great! It’s a beneficial and practical idea to consider. But, like “sustainability,” everyone who uses the word probably has a nuanced meaning for it. What makes a neighborhood “walkable?” Is it just about destination? Or infrastructure? Or flattering urban appointments? I think maybe one of the most important elements of walkability is the attitude of the walker. Seriously. When I am working in our Irvine office in California, I have for a decade moaned that “there’s no place to walk to for lunch.”…
‘Foong on Finance’ with Keat Foong: The Apartment Market Recovers
The news looks good. The unemployment rate in December fell from 9.8 percent to 9.4 percent. However, the number of jobs added was only 103,000—less than the roughly 150,000 new jobs that are needed per month just to keep pace with entrants into the labor market. And everyone knows by now that half of December’s decline in the unemployment rate is attributed to those who dropped out of the labor force and are no longer counted in the unemployment rate. Still, the apartment market is due to have a good 2011, even it will probably take many, many years for…
‘On the Ground’ with Eric Brown: Email Marketing Can Help Fill Vacancy
There is so much low-hanging fruit for most apartment operators that even a few small changes can have a huge impact on occupancy. An easy place to start is email capture.