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The most recent sales activity for 5-unit and larger apartments in King, Pierce, and Snohomish counties is analyzed in this report and compared with historical trends in a variety of tables and graphs.
The Apartment Investment Report is based on income and expense information we collect for most of the sales each year. Designed to provide subscribers with a dynamic perspective of our region's apartment investment market, the report serves a much different purpose than a simple list of sale comparables. Even though those are important when valuing a property, individual sales are always static, isolated events.
We have published apartment investment trends for 20-unit and larger properties in King, Pierce, and Snohomish counties in The Apartment Investment Report since 1979. In 2005 we expanded that report to include investment trends for all 5-unit and larger apartment sales in the online version of that report.
Immediate online access to the current (December 2009) report, published December 11, 2009. Your online access expires on September 30, 2010 (the online database of 5-unit and larger sales is updated almost weekly). Your complete subscription includes the December 2009 April 2010 and August 2010 issues of the report.
If you want to begin your subscription with an earlier date, or the next issue rather than the current issue, please contact us. (Note: First time subscribers usually do not get a full year's access online. That's due to the timing of our publication dates. However, timely renewals do get a full year of online access.)
The Apartment Investment Report costs $350.00 for three issues and includes online weekly updates for your custom reports (plus sales tax where applicable).
The Apartment Investment Report is based on income and expense information we collect for the majority of the sales each year.
Designed to provide subscribers with a dynamic perspective of our region's apartment investment market, the report serves a much different purpose than a simple list of sale comparables.
Even though "sale comps" are useful when valuing a property, individual sales are always static, isolated events. They don't tell you anything about the market or price trends. Sale comps don;t help you plan or anticipate. All you have is a snapshot of one transaction at one point in time.
The Apartment Investment Report solves that problem by giving you a view of the pulse of the market. That makes it a valuable planning tool and also helps put your property's performance and pricing in perspective.
In addition to the printed version of this report, subscribers can also access the report online (immediately upon subscribing to the report) along with the ability to create more detailed, customized online reports. If you ran every possible combination of customized online report, you would create close to 1,000 reports and print out almost 2,000 pages of data tables and graphs.
A printed 78-page report is sent to subscribers. You don't have to wait for it to arrive though. Once you set up a subscription you can download a PDF file of the report right away from your "my account" page on our web site.
The printed report includes two types of tables: data tables and lists of sale tables.
There are 63 trend and data tables in the report. They show apartment investment trends for the current year (to date) plus the prior four years.
Each data table focuses on trends for one of seven market areas (Tri-county, King County, Seattle, Eastside, South King County, Pierce County, and Snohomish County), three size groups (all 20 unit and larger properties; 20-99 units; 100 units and larger), and three age-groups of property (all ages; 1986 and newer construction; 1985 and older properties).
The data tables track trends for 18 apartment investment indicators: price per unit, price per net rentable square foot, gross income multiplier, capitalization rate, operating expenses, and more.
The report also has seven "list of sales" tables. They show the 50 most recent sales in each of the seven market areas. This table shows each property's name, address, sale date, number of units, property age, neighborhood, sale price, price per unit, and price per net rentable square foot.
Create your own customized online reportIn addition to the printed report, subscribers also have the ability to create customized online reports, directly from their "my account" page on our web site.
The printed report is published on a set schedule, each April, August, and December. The custom online reports you can create are based on more frequent updates of sales information.
This online feature also gives you the ability to "drill down" to the neighborhood level, in addition to creating reports for the same market areas used in the printed report. That means you can create a report for any combination of the seven major market areas, age groups, and size groups described above, plus any one of the 55 neighborhoods we track in King, Pierce, and Snohomish counties.
If you ran a report for every possible combination, you would end up with almost 1,000 different reports.
The sample pages show the customization screen subscribers can access from their "my account" page as well as a portion of the customized report you can generate.
The online report you create contains the same detailed investment information found in the data tables in the printed report. Plus, the online report gives you more than the five years of investment trends we include in the printed report. Each report analyzes all sales since the beginning of 2000.
Looking at the longer time frame helps you interpret trends. So why didn't we include this additional information in the printed report? It's all a matter of space. We formatted the printed report so that each market area fits on one page. Admittedly, that's a cost issue for us.
We don't have that constraint with the online report though. So we added more historical data. We also added more trend graphs (eight in each online report compared to five in the printed report). The online report runs to two pages when printed.
Another feature of the online reports is that you have access to The Apartment Investment Report from anywhere at any time, as long as you have access to a computer and the Internet.
The following is a partial list of articles on this topic.
See our Articles page for a complete list of articles on this and other topics.
You get immediate access to the online portion of your subscription the moment you subscribe online.
Note: Once you purchase a report online, log in (if you logged out after subscribing), click on the "my account" tab, and scroll down your "My account" page to the "Subscriber resources" section. You will find links to your reports there.