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Senior Vice President Jay Byce with ResiBuilt Homes joins President of Denim Marketing and Show Host Carol Morgan on Atlanta Real Estate Forum Radio to delve into the burgeoning build-to-rent industry. A proud Georgia native and graduate of the University of Georgia Terry College of Business, Byce has a wealth of experience in real estate planning and investment. Since its establishment in 2018, ResiBuilt Homes has erected nearly 1,200 homes, primarily within the metro Atlanta area. The company's footprint extends beyond Atlanta, with expansions into Orlando, Tampa, Charlotte and Greenville, solidifying its position as the ninth-largest private home builder in metro Atlanta. Notably, ResiBuilt Homes has earned its place among Atlanta's Top 10 Private Builders, as recognized by MetroStudy. Amidst a landscape of high mortgage interest rates and dwindling home inventory, the demand for build-to-rent communities like those offered by ResiBuilt Homes continues to surge. However, the accompanying rise in development costs has led to increased community development and housing affordability challenges. Byce anticipates a further decrease in available homes for sale within the next two to three years, exacerbating the existing inventory shortage. Byce said, “Due to the economic climate, we've had to pivot our business model, and we're offering more for-sale product.” ResiBuilt's for-sale product complements its existing build-to-rent portfolio. The company specializes in crafting high-quality entry-level and first-time move-up homes, with townhomes and detached homes priced from the $300,000s experiencing steady sales of three to four units per month. While this transition necessitates adjustments, such as a reduction in the pace of construction from 10 to 12 homes per month to 3 to 4 homes to accommodate the evolving market dynamics, ResiBuilt Homes remains committed to adaptability and resilience. The appeal of build-to-rent communities transcends generational boundaries, with millennials seeking alternatives to traditional homeownership due to financial constraints and 55+ drawn to the low-maintenance lifestyle afforded by rental properties. Byce comments that many active adults are repelled by the label that comes with a 55+ age-restricted community. Investors also recognize the allure of build-to-rent communities, drawn by the promise of consistent cash flow and the option to easily sell properties when desired. On the BTR model, Byce said, “We prefer to own homes longer and be in partnership with the residents that we have.” ResiBuilt Homes aims to challenge lingering stigmas surrounding renters by creating rental communities that mirror neighborhoods of owner-occupied homes. Most ResiBuilt rental communities experience an average tenant tenure of four years, which is comparable to that of homeowners in similar price brackets. Renters' preferences closely align with those of homeowners, emphasizing the importance of amenities and convenient location attributes. Developers have responded to that demand with various rental homes and communities. The ResiBuilt Homes approach involves developing smaller, convenient neighborhoods with managed amenities tailored to residents' needs, such as dog parks and walking trails while ensuring proximity to essential services and retail hubs. In its larger communities, the builder offers an array of traditional amenities such as a pool, clubhouse and tennis courts. Amidst the growing popularity of rental communities, there are notable challenges, including issues related to squatters. Jay Byce sheds light on this issue, noting a spike in incidents last year. While the situation has improved, organized fraud was rampant, with individuals listing rental houses they did not own and taking security deposits from unsuspecting tenants seeking no credit check options. ResiBuilt Homes, in contrast, upholds stringent screening processes,
Billions of dollars are being poured into build-to-rent communities and the industry is booming! Are developers able to keep up with demand for new rental homes? How long will it take to balance demand with supply? Is “now” the time to invest in this kind of rental property? Or maybe developers are overestimating future demand for this kind of rental and will end up flooding the market?In this episode, you'll hear from housing market economist Brad Hunter on this mushrooming segment of the real estate industry. Brad has been doing market analysis for 35 years and has conducted hundreds of housing demand studies at national and local levels. His market insights are available for builders, developers, investors, and lenders through his company, Hunter Housing Economics, in West Palm Beach, Florida. His opinions and forecasts are also widely covered in the media. Past positions include chief economist and national director of consulting at Metrostudy, managing director at RCLCO, and chief economist for HomeAdvisor.Brad was recently quoted in the following articles:Building and Renting Single-Family Homes Is Top-Performing Investment - WSJBuilt-to-Rent Suburbs Are Poised to Spread Across the U.S. - WSJThis is a piece he wrote as a special contribution to Forbes:Ten Billion Reasons Why There Is A Built-For-Rent Land Rush - ForbesYou can also follow him on Twitter: @bradleyhunterThanks for listening to the Real Wealth Show! Like what you hear? Subscribe to the Real Wealth Show on Apple Podcasts (or all other major platforms) and leave a rating and review, we really appreciate it!And if you haven't yet, join RealWealth for free today at www.realwealthshow.com. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more.
Welcome to the Heart & Home Podcast - A new home buyer's guide to buying, designing and financing your brand new dream home, from the family of thoughtful leaders behind De Young Properties. Our goal is to help simplify the home buying process so you can rest assured once you've listened to these episodes, you'll be prepared to embark on the journey of finding your brand new dream home! EPISODE #2 - Why Now Could Be A Good Time For You To Buy A Brand New Home! WE'RE LIVE: Tune-in to hear from Ryan and Brandon De Young, as they discuss why now could be a good time to buy a new home. Later in the episode, hear from special guest, Tim Sullivan, Senior Managing Principal at Meyers Research, Zonda and MetroStudy! Tim has more than 33 years experience in analyzing and valuing real estate development opportunities all over the United States and Latin America. He has developed the ability to interpret diverse statistics and trends and translate them into actionable plans. Have any questions? Comment below & we'll answer them! Any topics you'd like for us to discuss in the future? Let us know! We look forward to serving you & helping you find your DREAM home! #NewHomes #ClovisHomes #DeYoungProperties #NewHome
As a real estate veteran, having worked with for developers and home builders across five states and in a variety of market conditions and now leading the Central Texas MetroStudy division, we welcome Vaike O' Grady's insight and forecast on today's podcast.
Our special guest today is Tim Sullivan. Tim is the senior managing principal at Meyers Research and oversees the advisory group for Meyers Research, Metrostudy and Builder Magazine. For over 30 years he’s been analyzing and valuing real estate opportunities all across the US and Latin America. Many of you know Tim from regular industry updates and speaking engagements. He is one of our industry’s brightest thought leaders and we’re excited to have him here with us today. Special Guest: Tim Sullivan.
On this episode of HAR On The Move, we had Lawrence Dean from Metrostudy who shared an update of the New Construction market for Houston and surrounding areas. See Metrostudy's Website HERE. Check our this weeks sponsor, Red Star Home Inspection, HERE. Get Social With HAR! Are you a Platinum Member? Join our Facebook Group! Click to join. Follow us on Facebook, Twitter, Instagram,YouTube and LinkedIn Get Social with the Hosts! Cristina- Twitter and Instagram David- Twitter
7. In this episode we're joined by Paige Shipp, Paige is the regional director for Metrostudy in the Dallas/Fort worth market, she is a sought after speaker, and she's an expert advisor for new home builders, developers, and financial institutions, and is instrumental in guiding them on how to best navigate the current housing and economic market conditions.On the show, we're going to be talking about the real estate market as we look ahead into 2020, and recap 2019.We discuss everything related to housing including how an election impacts the market, if there's a looming recession, changes in buyer expectations, and more!If you haven't already, make sure to subscribe to the show and leave a review!Key Points in this episode:[15:13] Land Costs[21:57] Buyer Expectations[22:53] Community Amenities[24:16] Impact of an Election Year[30:23] One Story vs Two Story[36:39] Stay In Your Lane / Do What You Do Best[39:59] Incentives[43:32] Inventory Levels[45:10] Renters & Myths Renters Believe[49:04] Mcmansions on the Horizon[50:22] Looming Recession[53:22] Slowdown in Appreciation[54:22] Resetting Buyer and Seller Expectations[56:24] Home is Not a Piggy Bank
Todd Britsch is one of the most respected real estate economists in the Seattle area. Which is why we've had him on the show twice, and will invite him back again and again!
Mike Castleman joins Jim to give a preview of his upcoming presentation at the ISS World Expo coming up in Las Vegas: The Anatomy of a Self-Storage Startup: An Owner-Taught Case Study Mike Castleman is the owner/operator of a growing portfolio of self-storage properties in Texas. His efforts are the by-product of a 25-year career ranging from technology innovation in the 1990s to real estate research and market analysis as a partner in Metrostudy, a residential-construction research company. Mike's broad background with startups, real estate, analysis and technology have created a unique skillset that has been beneficial to his endeavors in the self-storage industry. https://www.issworldexpo.com
After years of catering to move-up buyers with big housing budgets, builders in Houston are introducing new models with lower price tags and smaller footprints. One company is marketing a 1,000-square-foot model with three bedrooms, two bathrooms and a one-car garage for under $92,000. Lawrence Dean, regional director of home building consulting firm Metrostudy, talks with Nancy about the growing market for small homes. Support the show.
Todd Britsch of Metrostudy might be able to predict the future of real estate in the Seattle area. Todd studies the market indicators more than anyone we've ever met, and saying that you have something to learn from Todd is the understatement of the year!
Our very own Duane Duggan interviews John Covert, the Director of Metrostudy's Colorado and New Mexico Region, regarding the company's role in our community. What is Metrostudy's primary goal? What are the 5 specific areas the company monitors? What is a vacant developed lot and how does this differ from a finished lot? Is there a specific pattern Metrostudy is seeing in the market place's supply (Inc/Dec)? How has the supply we have today changed since the recession? And why are we experiencing a shortage of finished lots?
2016 was a solid year for housing, with many positive trends. Weighing the positive and the negative, most experts remain optimistic overall about home prices, but to the detriment of future affordability The following are housing and mortgage predictions published by Forbs for 2017 and beyond Home prices and rents will continue to rise, albeit but more slowly, but still faster than incomesAffordability will worsen resulting in weak homeownership ratesMortgage rates will be volatile. It is unclear whether Credit availability will improve. No housing bubble in siteSupply will improve but remain short. More Millennials will become homeowners--and renters. Competition will grow fiercerPolicy changes will stimulate demand more than supply.Political uncertainty will be replaced with policy uncertainty. Joining the podcast today is Domonic Purviance a Senior Financial Specialist at the Federal Reserve Bank of Atlanta. Domonic is responsible for conducting an ongoing assessment of risks associated with residential real estate markets and the potential impacts they may pose to the financial system. Prior to joining the Federal Reserve, Domonic served as the President of Market Advisory Services, LLC, a research, and consulting firm that provides analytics for developers, homebuilders, and lenders as well as a Senior Consultant at Metrostudy, a residential real estate research company.
Real Estate Realities With Robert "The RebelBroker" Whitelaw
A cool blending of two different reports to make this list! Todays topic comes from the folks at realtor.org. They have shared the results of blending two different reports from Wallethub and Metrostudy. By doing so, they have generated a great list of communities most likely to draw those families that will be needing a place to rent or buy and with any luck, you can be there to fill the need! So lets get into the numbers and see which communities might just be worth your time. Please help the show by filling out the audience demographic survey by visiting http://therebelbroker.com then clicking the button at the top of the page titled "Take the survey to support the show". Follow the prompts and this will automatically enter you for a chance to win a $50 Amazon Gift card! Interested in getting free content, advanced notice of upcoming events and content? Then simply text the word 'rebelbroker' to 44222. When prompted, text your email address and you are in! Also, check out links to the articles discussed in todays show, check out the show notes at http://www.therebelbroker.com