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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...]

Investment ROI Calculator Tutorial

This video will go over how use our simple investment ROI calculator to determine if the property meets your goals. Please leave any comment or questions below or feel free to give us a call. I hope you find this useful. … [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...]

NAR Makes Forecast on Housing, Economy

The National Association of Realtors (NAR) offered market projections into 2014 during a forum at the 2012 Realtors Conference and Expo. NAR chief economist Lawrence Yun says he expects the market share of distressed sales to fall from about 25 percent in 2012 to 8 percent in 2014, according to a release on the forum.  Mark Vitner, managing director and senior economist at Wells Fargo, was one of the speakers at the NAR forum. Vitner compared distressed homes to an after-Christmas sale stating, “most of the … [Read more...]

Median Price for Existing Home at Highest Level Since 2008; Sales Drop in June to 8-Month Low

The median price of an existing single family home rose in June to the highest level since almost four years, the fifth straight month-month gain, the National Association of Realtors (NAR) reported Thursday. The median price was up 7.9 percent from June 2011. Existing home sales dropped to 4.37 million in June to the lowest level since last October, the NAR said. It was the fourth drop in the last five months. Economists had expected the sales pace to increase to 4.65 million from 4.62 million in … [Read more...]

Californian homeowners see surprise jump in property taxes

Tens of thousands of Californian homeowners are seeing the downside of the recovering real estate market: unexpected jumps in their property tax bills. Many homeowners believe their property taxes are limited to increases of no more than 2 percent annually because of Proposition 13, the landmark voter initiative approved in 1978. But fewer property owners know the details of Proposition 8, a companion ballot measure that passed the same year. Proposition 8 — not to be confused with the 2008 ballot measure … [Read more...]

General FAQs

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New Hope for Underwater Homeowners!

FHFA, Fannie Mae and Freddie Mac Announce HARP Changes to Reach More Borrowers Why are you making these changes to HARP now? For some time, FHFA, Fannie Mae and Freddie Mac (the Enterprises), lenders, servicers and private mortgage insurers (MI’s) have been engaged in a coordinated, industry-wide effort to find ways to increase the number of homeowners who are able to refinance through HARP. With mortgage interest rates at historic lows, we believe it is an opportune time to put the industry’s experience with … [Read more...]

How to install MyAgent by IDX on your iPhone or iPad

This video will go over how to download and install our mobile app for your iPhone or iPad devices. I hope you find this useful. … [Read more...]