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Shaun Hayes’ Ladue property sells in foreclosure

By Jacob Kirn

Shaun Hayes’ Ladue mansion was sold in a foreclosure auction Wednesday.

U.S. Bank Trustee NA, trustee for LSF9 MP Trust, had the winning and only bid: $2,030,200.

The Fordyce Lane property, with an appraised value of $2.4 million, had been owned by Shaun R. Hayes Trustee for the Shaun R. Hayes Revocable Living Trust. Hayes, the former head of Allegiant Bank, was a prominent banking and civic figure in St. Louis before being banned from banking by the Federal Deposit Insurance Corp. last year.

Bank… …read more

From:: biz journal foreclosures

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Housing Starts Fall 11% in October, Building Permits Up

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2015: Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,060,000. This is 11.0 percent (±13.5%)* below the revised September estimate of 1,191,000 and is 1.8 percent (±11.2%)* below […] …read more

From:: Finance and Economy

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Apartment Industry Trends and Predictions

By Rachel Jefferson

In this video interview from Multifamily Executive, Andrew Kadish, President at CAPREIT, and Ray Barrows, COO at Waypoint Residential, explain current industry trends as well as predictions for the near future. Kadish suggests that despite increased competition, investors will continue to pursue the wealth to be made in real estate and multifamily apartment communities. Barrows investigates the millennial effect, with a large workforce still entering the market. Homeownership rates are low, and according to Barrows, will continue that way.

Watch the full video.

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From:: Property Management

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Cities with Best Apartment Rent Values

By Rachel Jefferson

The rental market is booming; occupancy rates are high, rent-growth is steady, and there’s no sign of it stopping anytime soon. This is good news for investors, but not great for renters. There are new buildings being constructed, but elevated apartment demands, high occupancy, and raised rents are still big issues for today’s renter. Which cities offer renters the best bang for their buck? Axiometrics breaks down which U.S. cities offer the best value for Class A, B, and C apartments.

Read the full story on Axiometrics.

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From:: Property Management