Mission Statement

Articles, links, ideas and everything to do with property management.

Thursday, June 14, 2012

Phoenix looking good for job growth

Metro area population: 4.3 million
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.

The city is an emerging player in the making and distribution of lower-end electronics: major employers include Motorola, Honeywell and Avnet, all of which are hiring. Other Fortune 500 firms looking for help are mining giant Freeport-McMoRan, US Airways and PetSmart.

Entrepreneur Stories

Thursday, May 31, 2012

Mortgage Rates Plummet

America lost 129,000 Millionaires in 2011

Obama's wealth distribution is right on track!!! Remember, Conservatives follow the principles of the Constitution. It is supposed to provide us a level field upon which we can try to build our futures and are will to take a chance even if we fail. Progdolytes want a strong centralized Government to let us all share equal misery.

Thursday, May 24, 2012

Opulent Real Estate Group LLC

Rent Trends in Phoenix

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.

All Property Management

Renters Choice

A Phoenix area property management company.

Rentals dominate in Phoenix

Tuesday, May 15, 2012

Capitalist Utopia

Government wants to get tougher on Chase Bank

The Government wants to get tougher on Chase because it lost $2 billion dollars. That shows you how anti-business our Government has become. The entire purpose of business is to take risks. I find it ironic that the Government can complain about one business bad fortune in one event when it loses $1 billion dollars every day. I think that it should clean up it's own house before coming after individual businesses.

Friday, May 11, 2012

If we aren't Socialist, what are we?

More and more Americans renouncing their citizenship in order to not lose their wealth.

Tuesday, May 1, 2012

Real Estate Property Easement

Cities With Least Realistic Home Prices

5 Cities Where Home Prices Hit New Lows

Chicago is back to what homes were worth in 2000. Illinois' high taxes will keep this market depressed for a long time.

Phoenix is showing improvements and homes are dwindling.

For the property rental business, Las Vegas, Nevada is the hottest market to get into. There are close to 140,000 houses available. This is where investors will be flocking to.

"Chicago
  • 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."

Why US House Prices Won't Recover

"Houses are ordinary consumable goods: wood, stone and metal bound pieced together through labor. There's no reason to believe they should enjoy a special rate of return distinct from those for, say, apples and shoes."

The value of money is what we as a people agree to. The middle-class put too much of their vision of wealth in their home and struck out. It is surprising on how many people believed that what a house was worth would continue to rise to such unbelievable heights. If that were the case then a house built thousands of years ago would be worth trillions.