Word on the Multi-Family Street

“Tell you the first big news in Multi- Family. There wasn’t
one ‘Market’ deal done over ten units in January!!!

Some deals were done, very few, and they were all delivered to buyers off
the market. Our deal flow has nearly stopped? Rents: our best client is
getting rents that are better than dot com.. 20+ people showing up for open
houses.. I don’t know what it means except there are fewer and fewer deals
going down. There were only 70 deals (approx.) over 10+ units in 2006
reported. One guy bought like 30 of them… Can you guess who? People are
getting pissed.

BTW- that is the lowest volume of 10+ deals we have seen in like a decade.
Brokers are starting to sweat because there aren’t enough deals to go
around. We might see a lot of people get out of the business because they
can’t make a living.

TIC market is on FIRE!!!!! You can quote me on that. Whoever doesn’t agree
is not in touch with the market…”

-editor’s note…the author of this post has asked to remain anonymous, but he/she is definitely in the know. So what does this mean? Discuss in our comments.
I think it is a sure indication that although we are inundated with new technologies trying to replace the Realtor, it is still the Realtors that are getting the deals done…only off the market.

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