After a stretch at Summit Properties in the ‘90s, Terry spent a decade with Trammell Crow Residential Services, where he served as President. He started Riverstone Residential Group in 2006 and ran the company as President and CEO until merging with Greystar in 2014. After two years running U.S. real estate operations and client services for Greystar, Terry brought his 30 years of multifamily experience to SightPlan.
As the Founder and Principal of Ward & Company Real Estate, a real estate acquisitions company and Intuitive Management Partners, a Multifamily advisory firm, Whitney leads and defines company growth initiatives and expansion opportunities. Whitney’s role includes overseeing acquisitions & service contracts, capital markets, brokerage engagements and collaborating with strategic business partners for growth.
“Recent amendments to our senior preferred stock purchase agreement with Treasury impose additional risk criteria on the loans we acquire,” the GSE said in a letter. “One of those restrictions is a 7% limit on our acquisition of single-family mortgage loans secured by second home and investment properties.” Fannie Mae said that the amendment has prompted changes in its eligibility policies. All second homes must be underwritten with Desktop Underwriter, receive an approve/eligible recommendation and be delivered as a DU loan, Fannie Mae said.
Fully three-quarters of multifamily developers are experiencing construction delays, according to a new survey by the National Multifamily Housing Council, which collected 76 responses from leading U.S. multifamily specialists from Feb. 10 to March 5. Among that 75%, a bit more than three-quarters (77%) reported delays in permitting due to the coronavirus, down from 90% in a previous NMHC survey on the same subject from Oct. 6 to Oct. 27 but comparable to surveys early in the pandemic
Renter demand for apartments remained strong nationally in 2020, the pandemic notwithstanding, Yardi Matrix reported. Around 252,000 apartment units were absorbed last year, about 1.7% of total market stock and down 12% year-over-year from 2019
The U.S. saw job gains in February come in well above most economist’s expectations, signaling that the labor market could be emerging from both the COVID-19 pandemic shutdowns and the big chill of the winter months. About 379,000 jobs were added to employers’ payrolls in February, according to the Bureau of Labor Statistics (BLS). And while December’s job loss of -227,000 was revised down to -306,000, the modest gain of 49,000 in January was bumped up to 166,000, resulting in a net increase of 38,000 for those two months
As previously reported, the House and Senate have been working to craft COVID-19 relief legislation, based on the President’s “American Rescue Plan,” to be passed via the budget reconciliation process. Late last week, the House passed its version of the package. And after the Senate parliamentarian determined which provisions are eligible for inclusion within the strict Senate reconciliation rules, Senate Democrats are working to reach consensus on a package that can clear the chamber by an expected party-line vote
Experienced entrepreneur and CEO with a demonstrated history of working in the property management industry and local and state government. Strong business development professional skilled in the rental housing industry, legislative affairs, legal compliance and review, and residential property management. John is serving a third term in the NC House of Representatives. In his spare time he likes to fish, camp and travel with his family.
Video is by far the best way to engage with residents, and if you have the right virtual tour software, you’re halfway there! Whether you’re sending announcements, community updates or trying to engage with your residents, video is your best bet. Here are a few ideas of how to make a virtual tour video to engage with residents…
Via realpage.com – Rent change in Salt Lake City has nearly recovered to its pre-pandemic rate. In the year-ending January, Salt Lake City rents climbed 3%, the market’s strongest showing since the 3.5% growth from March 2020. Salt Lake City held out longer than most markets in the early months of the COVID-19 pandemic downturn, not showing a reaction in pricing until April…