Appraisal Institute - Metro NJ Chapter’s Post

JOIN US FOR OUR 2-HOUR FALL MEETING Approved for 2 CE hours by NJ, State Appraisal Board Thursday, September 19, 2024 9:00 - 11:30 A.M. (BOD meeting will follow breakfast meeting) Continental Breakfast included Where: Chubb Risk Engineering Center, 35 Columbia Rd., Branchburg, NJ Registration fee: $40/AI affiliation, $45/Non-AI Register here: https://lnkd.in/e2X_6Wzg Speakers: Andrew Lines, MAI, CRE, Cohn Reznick and Lauren Migliore, Cohn Reznick    Topic 1: How connected are interest rates and multifamily cap rates? A look at multifamily cap rate trends during economic turbulence, 9:30 – 10:30 am *Historical fed rate hikes and their impact on multifamily cap rates *Cap rate trends over the past three years in each state/region *Impact of interest rates on investment and transaction activity *Disconnect between pace of changing interest rates and cap rates *Connection to real estate liquidity and buyer pools *Other macroeconomic factors including supply and demand, rent growth and vacancy, cost of operating expenses, demographic trends, and investor expectations *Trend predictions Topic 2: Solar development’s impact on adjacent residential and agricultural land values, 10:30 – 11:30 am *Solar Development has skyrocketed over the past 10 years, and with the Inflation Reduction Act, more solar fields are being proposed and constructed than ever before *This development tends to be predominate in rural and exurban areas, where the cost of land is low and agricultural land owners are excited about high land lease rates *For the last 8 years, CohnReznick has studied solar development’s impact on adjacent residential and agricultural land values, using techniques and methodology direct from Randy Bell’s Real Estate Damages textbook *CohnRznick has researched and analyzed several academic studies; called and interviewed nearly 100 assessors with solar in their counties; has developed specific studies in 17 states using paired sales analysis, before and after appreciation rate analysis and interviewed brokers who have sold real estate adjacent to operating solar farms Approved by the NJ State Board of Real Estate Appraisers for 2 CE hours Approved by the Appraisal Institute for 2 hours (10 points). 100% attendance required to get 2 CE hours. #aimetronj #continuingeducation #appraisers #realestate

Pair these stats with the new construction pipeline stats and you have a beautiful story that will unfold over the next 5 years. Some of these top cities even have development restrictions due to water supply, etc. According to Yardi Matrix, the greatest population growth over the next 5 years will be in secondary markets. Austin, Phoenix, Boise, Colorado, North Carolina, are going to see huge turn arounds regarding rent growth. How are you staging your client and investor communication through the rent compressions we have and will continue to see in these top 15 markets with relevance to future projections? #letstalkaboutit #macroeconomics #microtrends #supplyanddemand

We just released the 2nd quarter land and lot report, including the Lot Supply Index. This report is based on Zonda's proprietary data, tracking land and lot supply through the stages of development. As we say in the report - "Tracking upcoming lots and listening to builder feedback can help guide us on future housing starts. Roughly 70% of homebuilders plan to increase housing production this year and 80% are planning for even more starts in 2025. This confidence is largely driven by two things – the hope of lower interest rates and the anticipation of more lot supply." You can learn more here: https://lnkd.in/g53aq3F3 Trevor Tetzlaff Sean Fergus Jonathan Dienhart Teri Fiore Evan F. Tim Sullivan Keith Hughes Sarah Bonnarens Bryan Glasshagel CiAnn Blue Allison Paul

Texas A&M’s Texas Real Estate Research Center (TRERC) predicts that the state’s key macro drivers such as economic output, jobs, nominal income, and population growth are set to accelerate in 2024. This creates a big opportunity for #TexasHomeConstruction companies which can help meet the new housing demand and improve inventory levels to help accommodate Texas's rapid growth. DFW, Houston, Austin, and San Antonio were at the top of the leaderboard for new home construction starts across the nation in 2023 and it looks like that trend will continue into 2024. #NewHomeBuilding #NewConstruction #TexasConstruction

GUARANTEED Cash Flow From Day One with 14-16% Annualized Returns Join an exclusive investor webinar highlighting a remarkable preferred equity opportunity offering guaranteed cash flow from day one with annualized returns of 14% to 16%, based on your investment amount! This gorgeous 240-unit Class A apartment community is nearing construction completion and the lease-up period is underway. Despite being so close to the finish line, the significant increase in interest rates since the start of the project resulted in much higher construction loan costs. As a result, we are raising short-term Preferred Equity, which will be used primarily for working capital during the lease-up and stabilization period of this highly desirable new apartment community. Here are the top 5 reasons we truly believe this could be one of our lowest risk offers yet: ✨More Secure Than Limited Partner Equity: Preferred Equity takes precedence over approximately $16.5M of invested equity, ensuring priority for both equity and cash flow distributions. ✨Short-Term Investment Timeframe: 2-year investment timeline with high annualized interest returns. ✨Guaranteed Day One Cashflow: Pref Equity ensures quarterly cash flow commences immediately and takes precedence over standard equity. ✨Located in a High Growth Market: Maricopa County is the fastest growing county in the U.S. and Phoenix-Mesa was ranked #2 best multifamily market in 2024 by Berkadia. ✨Brand New Class A Apartment Community: The property is a highly desirable Class A asset in a great location near amenities Reserve Your Spot Here 👇 https://lnkd.in/g6k-t4pu

The #housing production performance of the #Texas #metros remains off the charts -- yet home prices in these metros continues to raise significantly. Interesting contrast, however: #Austin remains a huge housing producer, and prices have levelled off in the last two years. Meanwhile, #Metroplex prices have continued to up while #Houston prices have spiked, acording to the St. Louis Fed.

Economic prosperity in the Sunshine State, Arizona, and North Carolina is raising expectations about the future of the multifamily market despite a consensus among experts that a contraction will plague the sector at the national level in the short term. According to a recent study from Altus Group, the economic conditions in South and West Florida, the Durham-Chapel Hill area, and the Phoenix metro area translate into a comparatively bullish multifamily market along the Sun Belt, while the sector is expected to languish in Gateway cities. https://lnkd.in/gUU4ENPQ #abimultifamily #realestate #multifamily

GUARANTEED Cash Flow From Day One with 14-16% Annualized Returns Join an exclusive investor webinar highlighting a remarkable preferred equity opportunity offering guaranteed cash flow from day one with annualized returns of 14% to 16%, based on your investment amount! This gorgeous 240-unit Class A apartment community is nearing construction completion and the lease-up period is underway. Despite being so close to the finish line, the significant increase in interest rates since the start of the project resulted in much higher construction loan costs. As a result, we are raising short-term Preferred Equity, which will be used primarily for working capital during the lease-up and stabilization period of this highly desirable new apartment community. Here are the top 5 reasons we truly believe this could be one of our lowest risk offers yet: ✨More Secure Than Limited Partner Equity: Preferred Equity takes precedence over approximately $16.5M of invested equity, ensuring priority for both equity and cash flow distributions. ✨Short-Term Investment Timeframe: 2-year investment timeline with high annualized interest returns. ✨Guaranteed Day One Cashflow: Pref Equity ensures quarterly cash flow commences immediately and takes precedence over standard equity. ✨Located in a High Growth Market: Maricopa County is the fastest growing county in the U.S. and Phoenix-Mesa was ranked #2 best multifamily market in 2024 by Berkadia. ✨Brand New Class A Apartment Community: The property is a highly desirable Class A asset in a great location near amenities Reserve Your Spot Here 👇 https://lnkd.in/g6k-t4pu

Today's spotlight is on Colorado's Regulation 28! ➡️ Applicable to commercial, multifamily, and public buildings with an area of 50,000 sq.ft. +. ➡️ About 40% of the 8,000 buildings already meet standards for the 2026 target. ➡️ About 20% of the buildings already meet standards for the 2030 target. ⚡ Colorado could see a benefit of $3 in energy bill savings for each $1 invested in efficiency, with an estimated $6.4B in benefits between 2024 and 2050.⚡ The full report shares informative BPS data across the nation and how CRE organizations can leverage technological advancements to best prepare for and avoid penalties. Access it here: https://hubs.la/Q02tNDBv0 #earthday #buildingperformancestandards #bps #colorado #regulation28

#Multifamily fundamentals are improving in the Virginia capital. Find out more: #multifamily #multifamilyconstruction #construction #apartmentliving #varealestate #RVA https://lnkd.in/gnu_KwTt