Vous êtes sur la page 1sur 4

Commercial properties recently entrusted to Shelter Management, Inc.

for management

Skyline Apartments Salem 20 - 2 bedrooms

Walnut Hill Apartments Salem 20 - 1 & 2 bedrooms

Catron Place Apartments Monmouth - 60 units mix of 1, 2 & 3 bedrooms

Catherine G. Miles, CPM, ARM, President & Principal Broker Shelter Management, Inc. (503) 585-6176 - cmiles@smiproperty.com
MARKET SUMMARY WINTER 2012

Management?
Call Today

Need

What a change six months can make. While Salem/Keizer vacancy is stable, we saw a roll-back in rents at many properties. Summer time vacancies caused many to resort to quick fixes through lowered rents. Traveling down the valley to Albany and Corvallis, just the opposite happened. Vacancy changes were negligible, and rents went up. Corvallis was more dramatic than Albany, but both markets saw marked increases. The question is.is Salem/Keizer far behind? VACANCY Salem/Keizer was up 0.42% from 3.65% to 4.07%, from the Summer report. Albany, saw a decrease of 1.73% from 4.27% to 2.54%. Corvallis continued its very low vacancy, reporting 1.48%. RENTS For the third consecutive reporting period, Albany and Corvallis saw increases in rents. Salem/Keizer had some decreased rents from the last report to the current one. The second half of the year continued to have reported sales. Clearly, investors are following one of two paths. Sales are either; distressed properties that provide a value-add play for investors, or have capacity for high new debt at jaw-dropping low interest rates. Properties in between, particularly properties that require debt under one million, are very tough to move. High down payments and tough underwriting are making them difficult today. As with previous reporting, there is new construction up and down the I-5 corridor. However, funding and bureaucratic red tape seem to be hindering many projects. As we move into 2013, discussions of inflation and uncertainty abound. Those commentaries seem to lend themselves to a stronger marketplace for apartments. Should you want to buy or expand your apartment holdings at todays low interest rates, please call us. How much longer we really have to take advantage of these low rates is anyones guess. But all agree, it cant go on forever All of us here wish you a prosperous 2013. If we can help you to that end, please call or email us. Brian K. Miles - (503) 390-6060 - brian@briankmiles.com

Pre-1990 Keizer Central Salem NorthEast Salem Suburban SE Salem SouthEast Salem South Salem West Salem

1bd/1bth 3.74% 6.31% 4.23% 0.00% 5.17% 4.66% 5.99% 4.30%

2bd/1bth 2bd/1.5bth 2bd/2bth 3.52% 4.41% 4.42% 8.20% 22.22% 2.98% 3.45% 0.33% 13.04% 0.00% 4.82% 4.84% 2.27% 3.83% 5.19% 7.07% 3.45% 0.00% 3.85% 6.08% 6.12%

3bd/1bth 0.00% 2.56% 0.00% 0.00% 0.00% 10.00% 2.09%

Totals Post-1990 Keizer Central Salem NorthEast Salem Suburban SE Salem SouthEast Salem South Salem West Salem

0.00% 0.00% 3.73% 1.25% 2.27% 16.67% 0.00%


3.28% 3.30% 4.62% 0.00% 1.87% 0.00% 3.95% 2.61% 2.44% 6.80% 1 0.00% 4.84% 12.50% 3.99% 3.92%

4.88% 0.00% 1.10% 0.89% 0.00% 4.60% 7.93% 6.25% 6.25% 2.53% 4.03% 5.07% 2.08% 2.09%

Totals Grand Totals Overall Vacancy Pre-1990 Keizer Central Salem NorthEast Salem Suburban SE Salem SouthEast Salem South Salem West Salem

3.42% 3.86% 4.07%

4.71% 5.39%

Totals Post-1990 Keizer Central Salem NorthEast Salem Suburban SE Salem SouthEast Salem South Salem West Salem

1bd/1bth $487 $484 $509 $570 $489 $532 $550 $517


2bd/1bth $607 $581 $589 $655 $597 $633 $644 $615 $681 $691 $617 $646 $710 $658 $670 $667 $641

2bd/1.5bth $665 $645 $668 $625 $672 $795 $653 $675 $708 $725 $775 $869 $630 $745 $742 $708

2bd/2bth $598 $765 $698 $795 $714 $742 $850 $700 $737 $869 $760 $735

3bd/1bth $678 $717 $900 $790 $688 $825 $766 $825 $800 $912

Totals Grand Totals

$640 $515 $577 $597 $627 $563 $670

$598 $558

$770 $742

$846 $806

The following survey was performed during the month of December 2012. The statistics were formulated from the vacancy at each property on the day the information was collected. The total number available for this survey was 1,202+ properties and exceeded 27,205 units. This is the largest survey done in the Salem/Keizer market.

Brian K. Miles - (503) 390-6060 - brian@briankmiles.com

Albany
Grand Totals

Pre-1990 Post-1990

1bd/1bth 1.04% 1.47% 1.26% 2.54% 1bd/1bth $529 $625 $577 1bd/1bth 0.57% 0.34% 0.45% 1.48% 1bd/1bth $543 $679 $611

2bd/1bth 2.47% 1.82% 2.14%

2bd/1.5bth 2bd/2bth 4.85% 0.00% 2.17% 2.43% 2.17%

3bd/1bth 0.00% 9.38% 4.69%

Overall Vacancy Pre-1990 Post-1990 Avg. Rents

2bd/1bth $645 $616 $630 2bd/1bth 5.38% 3.18% 4.28%

2bd/1.5bth $679 $750 $714 2bd/1.5bth 1.71% 1.67% 1.69%

2bd/2bth $759 $759 2bd/2bth 0.00% 1.94% 0.97%

3bd/1bth $760 $835 $798 3bd/1bth 0.00% 0.00% 0.00%

Corvallis

Pre-1990 Post-1990

Grand Totals Overall Vacancy


Pre-1990 Post-1990 Avg. Rents

2bd/1bth $760 $769 $764

2bd/1.5bth $862 $832 $847

2bd/2bth $960 $1037 $998

3bd/1bth $852 $917 $884

The following survey was performed during the month of December 2012. The statistics were formulated from the vacancy at each property on the day the information was collected. The total number available for this survey was 390+ properties and exceeded 8,379 units. The largest survey done to date in the Albany & Corvallis market.

NEW LISTINGS

Highland House Apartments Salem 32 - 1 & 2 bedrooms $925,000

Churchdale Apartments Keizer 13 - 1 & 2 bedrooms $799,000

14th St Apartments Salem 10 - 1 & 2 bedrooms $399,000

Follow us on twitter.com/smicre facebook.com/SMICRE


Brian K. Miles - (503) 390-6060 - brian@briankmiles.com

3625 River Road N, Suite 250 Keizer, OR 97303

Brian K. Miles Principal Broker SMI Commercial Real Estate, LLC (503) 390-6060 brian@briankmiles.com Catherine G. Miles, CPM, ARM President & Principal Broker Shelter Management, Inc. (503) 585-6176 cmiles@smiproperty.com

HAPPY NEW YEAR from SMI Commercial Real Estate, LLC


Welcome to the newest member of the Shelter Management Team Welcome to the newest member of the SMI Commercial Real Estate Team

Shamra Walder Administrative Assistant

Gabe Johansen Broker

Vous aimerez peut-être aussi