Mission Statement
Monday, June 18, 2012
Thursday, June 14, 2012
Phoenix looking good for job growth
Current unemployment rate: 6.6%
Job growth next five years: 8% to 10%
Number of new jobs: 100,000 to 150,000
A solid transportation infrastructure and low labor costs make the Valley of the Sun a strong magnet for firms fleeing higher-cost California. The Greater Phoenix Economic Council notes that 30% of relocations in 2011 were from California. And a silver lining in the wake of the housing crash: inexpensive real estate.
Sunday, June 10, 2012
Importance of Credit Checks
Thursday, May 31, 2012
America lost 129,000 Millionaires in 2011
Wednesday, May 30, 2012
Tuesday, May 29, 2012
Saturday, May 26, 2012
Thursday, May 24, 2012
Finding Tenants
Finding the right tenants for your rental property is one of the most critical tasks you'll face as a landlord. As any experienced income property owner knows, difficult tenants can consume so much time and energy (not to mention cash, if their particular brand of "difficulty" is "not paying rent") that you're better off with a vacant property than you are with the wrong renters.
Casting a wide net with your advertising strategy will give you the best chance of finding responsible, financially stable tenants. With this in mind, here are some good ways to locate ideal renters:
- Word of mouth: Letting trusted friends and family know that you have a rental unit available can be one of the simplest and best ways to find hassle-free tenants.
- Community bulletin boards: Posting attractive flyers in locations where responsible renters are likely to congregate can be an inexpensive and effective strategy for getting the right people interested in your property. Office break-rooms, churches, and upscale grocery stores are all good places to post your property listing.
- Newspaper ads: Placing ads in the print version of your local newspaper is still one of the simplest ways to bring news of your vacant rental property to the attention of a wide, yet targeted, audience. If you live in a large metro area, don't forget that advertising in smaller community or neighborhood newspapers can be a cost-effective, focused way to advertise vacancies.
- Online advertising: There are many ways to advertise your rental property online, from Craigslist, to your local neighborhood blog, to rental listing portals such as RentalHomesPlus.com and Rent.com. With many young professionals (read: "likely renters") conducting an ever larger portion of their lives online, it makes sense to advertise on the Internet.
- Rental agents: Many property owners choose to work with experienced property managers to fill their vacancies, even if they handle all other aspects of managing their properties themselves. Property management companies have systems in place to identify great tenants---systems that they've developed and refined in the course of filling dozens, even hundreds of properties. It's hard to match that kind of experience as an independent landlord.
Thursday, May 17, 2012
Wednesday, May 16, 2012
Tuesday, May 15, 2012
Government wants to get tougher on Chase Bank
Friday, May 11, 2012
If we aren't Socialist, what are we?
Monday, May 7, 2012
Friday, May 4, 2012
Thursday, May 3, 2012
Tuesday, May 1, 2012
5 Cities Where Home Prices Hit New Lows
- Home prices compared to September 2006 peak: -37%
Home prices in the windy city are the lowest they’ve been since 2000. Prices have dropped 37% since 2006, and a chunk of those losses is very recent. Between September and February, home prices in Chicago fell 11%, compared to the 5.4% average loss for all of the 20 metro areas tracked by S&P/Case-Shiller.
High unemployment is a big part of the problem, says Jeff Ristine, broker owner at Weichert Realtors Kingsland Properties in Chicago. The city’s unemployment rate was 9% in February, according to the BLS, compared to the 8.3% national unemployment rate at the time. Chicago’s unemployment has outpaced the national average for some time: In February 2011, the city had an unemployment rate of 9.7% compared to a 9% national figure. And more job losses could come, experts say. Illinois raised its state income tax last year, and experts say more companies could move their operations to other states as a result. Job losses have pushed up foreclosure rates in the city, says Ristine, which in turn has lowered values of nearby homes.
Fast home price appreciation during the boom is also to blame: Historically, home prices rose 3% to 5% a year but between 2001 and 2006 that spiked to 10% to 15% growth a year, says Ristine. Meanwhile, many new properties on the outskirts of the city sit uncompleted or vacant since the housing boom ended. Experts say it’s unclear what’s next for this city, but first quarter data seems relatively promising: the median sales price rose 4.7%, says Ristine, marking the first quarterly increase in roughly four years."
