This is an excellent opportunity to own a recently remodeled home close to the college campuses and Downtown Tallahassee.
2160 Croydon Drive, Tallahassee, FL 32303
Price:
Size:
Space Type:
Parking:
Year Built:
$199,000
2,130 Sq. Ft. / 0.36 Acres
4 Bedroom 2.5 Bathroom
Carport
1960 / Remodel 2009
Matthew Abbott
office(850) 785-2233
mobile(850) 814-8154
nationsre.com
For more information contact
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where construction will begin to exert pressure on occupancies and rent growth.
RETAIL: CCRSI's Retail Index posted a 13.9% increase in 2014, the largest annual gain among the four major property types, as pricing ramped up in response to improving market fundamentals. With development largely quiet, retail demand outpaced supply by a two-to-one margin in 2014. This dropped vacancies 20 basis points, to 6.3% in the fourth quarter of 2014, the lowest rate in more than six years, while annual rent growth remained steady at nearly 3%.
INDUSTRIAL: The Industrial Index advanced by a solid 11.9% in 2014. Because of the segment’s low vacancy level and relative lack of supply, industrial rent growth, usually unremarkable, remained the strongest of the four main property types throughout 2014, posting a 4.3% increase for the year.
HOTEL: The CCRSI Hospitality Index surged upward by 17.7% in 2014 after relatively flat growth of just 0.6% in 2013. National hotel occupancies have reached their highest level since the mid-1990s, fueling room rate and RevPAR growth as well as investor demand.
LAND: The Land Index gained 19.9% in 2014, driven by increased demand for development sites across all property sectors. Despite strong gains over the last year, the Land Index remains 28.9% below last cycle’s peak since reaching its most recent trough in 2012
Closer Look at Regional Pricing Trends
NORTHEAST: Thanks to its strong concentration of top-tier markets that were a magnet for investment early in the cycle, pricing in in the Northeast Composite Index rebounded in 2014 to within 1% of the prior peak reached in 2007. This outperformance can be largely attributed to the strong rebound in the Northeast Multifamily and Retail Indices, which soared past their prior peak pricing levels in 2014 by 25.2% and 8.4%, respectively.
However, as the cycle has matured and prices have risen rapidly across the primary Northeast markets, the region is no longer outstripping price gains in the rest of the country. In 2014, growth in the Northeast regional index of 10.5% was the slowest of the four major regions.
WEST: The West Composite Index recovered to within 12.1% of its previous peak reached in 2007, the second-strongest price recovery after the Northeast region. In 2014, the West’s multifamily and office segments posted the strongest price gains, of 15.6% and 13.7%, respectively. Demographic trends and employment growth in tech-driven markets, including Seattle, San Francisco and San Jose, have driven recent exceptional price growth in this index.
SOUTH: The South Composite Index increased by 15.1% in 2014, driven by strong growth across all property sectors. Price growth has rebounded in fast-growing markets like
those in Texas and
North Carolina that
have benefited
from exceptionally strong demand growth, falling vacancies and solid rent gains. The South Multifamily Index posted the strongest annual growth in the composite index, of 14.6% in 2014.
MIDWEST: The Midwest has lagged behind the other regions in the recovery, with most property type indices here bottoming out in 2012, nearly two years later than those in the Northeast or West regions. As capital has moved to secondary and tertiary markets over the last year in search of higher yields, Midwest markets have benefited, with a surge in investment activity and price growth. In 2014, the Midwest Composite Index expanded by 12.8% annually, the second-strongest growth after the South region. However, the Midwest Index has the most ground to make up in the recovery, with current pricing down 23% from its prior peak.
Distress Sale Transactions Continue To Wane
The percentage of repeat sales transactions involving distressed assets fell to 9.7% in 2014, its lowest rate since 2008.