This month’s marketing meeting was as expected- a core group of veteran brokers and affiliates.  The guest speaker was an apartment broker who confirmed all that I have written in the past.

It’s all about the jobs, as jobs leave the area so do property values.

Lending underwriting guidelines are more restrictive

Acquisition pricing overall is still very steep considering the rental income.

While occupancy rates are high (95% +) the rents have little room to grow because jobs are a net loss in the East Bay.

Thus the gap continues: Seller expectations are unmet by Buyer’s willingness to pay.

Many thanks to my readers, your valuable feedback is always appreciated.

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Contact me at Pete@ConsultPete.com or 925-719-3569.  Continued Success!