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Tenants from Hell — Because we all hear about them

Ever had a tenant from hell? If you haven’t been graced with a truly bad tenant, you should count yourself among the very lucky. Many landlords have seen their share of awful tenants. Learning how to avoid them can be difficult especially if you don’t know what to look for. Here are some guidelines for avoiding and dealing with tenants from hell. Tenant from Hell Stories The Internet is full of tenant from hell stories. Whether you’re dealing with a hoarder tenant, a tenant who not only hasn't paid the rent, … [Read more...]

Five real estate trends to watch in 2015

While the U.S. housing market and home lending levels in 2014 continued an uneven recovery from the Great Recession of 2008-2009, the coming year could see many of those gaps finally filled in as economic and job growth in the U.S. accelerates and consumers benefit from low inflation thanks to plunging gasoline and energy prices. So if you’re buying or selling a home in 2015, or looking to make an investment in real estate, here are some things to watch for in the coming year. Better market for buyers For … [Read more...]

21 Low Cost Renewal Concessions

What is your customer acquisition costs? What does it costs the property to obtain a new lease? There is advertising, overhead and staff time- all part of the expense for obtaining a new resident. Then there is the customer retention costs. This article is about retention costs and the use of concessions. I am not suggesting auto-offering concessions as a standard business practice.  They are just another tool in our tool box for use when appropriate.  Before getting to concessions an assessment of  “why” is … [Read more...]

Payrolls Up 162K in July; Unemployment Rate Down to 7.4 %

The nation’s economy added 162,000 jobs in July as the unemployment rate fell to 7.4.percent, the Bureau of Labor Statistics (BLS) reported Friday. Economists had forecast payrolls would grow by 175,000 and that the unemployment rate would dip to 7.5 percent.  Payroll growth for June, originally reported at 195,000, was revised to 188,000. May payroll growth was revised to 176,000 from 195,000. Average weekly hours fell to 34.4, compared with forecasts of 34.5, and average hourly earnings fell two … [Read more...]

Price Gains to Slow But Recovery Will Continue

With strong price gains continuing to make headlines, industry analysts are quick to assure us we are not in the midst of another bubble. The current pace of price appreciation will not endure much longer, they say. However, Capital Economics also assures us a deceleration in price gains does not mean an end to the housing recovery. CoreLogic, Zillow, and other industry observers concur prices appreciation is set to slow, and Monday’s US Housing Market Update from Capital Economics reinforces this prediction. … [Read more...]

Case-Shiller Indices Show Midwest Price Weakness

Despite weakness in the Midwest, home prices posted their strongest year-over-year gain in almost seven years in February, according to the Case-Shiller 10- and 20-city Home Price Indexes released Tuesday. Home prices rose year-over-year in all 20 of the cities in the Case-Shiller survey.  Month-over-month, the 10-city index improved 0.4 percent in February, while the 20-city index was up 0.3 percent. On a yearly basis, the 10-city index was up 8.6 percent, and the 20-city index rose 9.3 percent. Economists … [Read more...]

Home Values Climb for 16th Straight Month in February

Home values maintained their upward trajectory in February after climbing for the 16th straight month, according to Zillow’s monthly Home Value Index.  The index registered a national value of $158,100 last month, which represents a slight 0.1 percent increase from January and a 5.8 percent jump from February 2012, Zillow reported. The yearly gain is the second largest increase since August 2006. In January, the year-over-year gain was 6 percent. At the same time, all 30 of the largest metros tracked by the … [Read more...]

Regulators Provide Payment Details for $9.3B Foreclosure Settlement

About 4.2 million eligible borrowers should expect to receive a check ranging from hundreds of dollars to $125,000 in the next few months as part of the new agreement that replaced the Independent Foreclosure Review (IFR), regulators announced during a call Wednesday. Suzanne Killian, senior associate director of the Federal Reserve’s Division of Community Affairs and Ted Wartell, director of community affairs at the Office of the Comptroller of the Currency, (OCC) led the call to provide an update on payments … [Read more...]

Role of Nonprofits in the Home Repair Industry

Parks Properties is partnering to create a nonprofit in the next few months. We're looking for Sociable Responsible Investors (SRI) who might want to invest in our partnering. For more information please contact me either by calling (800)994-3510 or using our Contact Us page. Nonprofits such as Rebuilding Together, Habitat for Humanity, NeighborWorks America and others play a critical role in the home improvement and repair industry, according to a study titled The Role of Nonprofit Organizations and Public … [Read more...]

CoreLogic: Prices Up 9.7%; Market Poised for Strong Spring Season

Unhindered by winter weather, the home price recovery pressed on in January as CoreLogic’s home price index (HPI) rose nearly 10 percent year-over-year. When including distressed sales, January prices were up 9.7 percent from a year ago, representing the biggest increase since April 2006, CoreLogic reported Tuesday. From December 2012 to January 2013, prices managed to show positive growth and inched up by 0.7 percent. CoreLogic’s pending HPI projects another 9.7 percent yearly increase in February … [Read more...]