2009 Kootenai County Market Forum Multi-family Slides

Multi Family Multi-Family Glenn Sather

Topics • Statistics • Observations • Forecast & Recommendations

2008 Statistics • Sales Volume and Values 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 0

35 MM

16 MM 11 MM

2006

2007

2008

Multi‐Family  Sales Volume

2008 Statistics 150%+ - Supply of “For Sale” Stock

2008 Statistics New Construction Permits 100,000,000

91 MM

80 000 000 80,000,000 60,000,000

51 MM

New Construction  N C t ti Permits

40,000,000 20,000,000

12 MM

0 2006

2007

2008

2008 Statistics • Capital Markets & Apartments • 2-4 2 4 Units • 5 Units + • Vacancy Data • Rents R t

Observations • The Condo Card • Shadow Stock • Apartments p & the “Financial Storm”

Forecast & Recommendations • Opportunities in 2009 • Supply Problem • Rents • Tenant Retention