Apartment complex price index? - Posted by Mike

Posted by Randy on December 12, 2004 at 10:25:50:

No I don’t, so I have been making my own.

I’ve set up a simple spread sheet with these fields:

Asking Price,
Actual Price,
Price Per Unit,
Gross Rents,
Gross Multiplyer,
Cross Streets

Then I’ve gone to Loopnet and entered the data from every apartment building listed in my area (Fresno CA). The buildings under contract get a “C” in the “Actual Price” field. I will check back in a month or two to see what the closing price was. I suppose I should add a field for closing date.

It has given me a much clearer picture of what pricing is real and what is fantasy pricing.

Apartment complex price index? - Posted by Mike

Posted by Mike on December 11, 2004 at 06:45:48:

Does anyone know of an index that tracks the pricing of apartment complexes? Say, based on avg price per unit? It would be nice to track prices vs. inflation rates. Most complexes I price lately seem to be running at the upper end of the valuation spectrum! I think this will change when interest rates rise. Kudos to those owners with assumable loans.