Dreaming about financial freedom? Who isn’t? But if you’re counting how many rentals you’ll need to reach certain goals…let’s talk. Imagine what would happen if you earned twice as much from each rental. You could reach your financial goal with half as many units, right?
Brace Yourself…Winter is Coming (Its really not THAT bad)
People across the country are beginning to think about what their life will look like next year. It happens every fall; we ponder whether we should relocate to a different part of the country to find better year-round weather, or perhaps move across the state for better job opportunities. Homeowners in this situation must consider whether they should sell their house now or wait.
If you are one of these potential sellers, here are five important reasons to sell now instead of in the dead of winter.
1. Demand Is Strong
The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market (which is 4.5-months). This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market soon. Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase, reaching historic levels in 2017. Last month’s new home sales numbers show that many buyers who have not been able to find their dream homes within the existing inventory have turned to new construction to fulfill their needs. The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.
3. The Process Will Be Quicker
Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007’s pace. As the market heats up, banks will be inundated with loan inquiries causing closing timelines to lengthen. Selling now will make the process quicker & simpler.
4. There Will Never Be a Better Time to Move Up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.2% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.57% right now. Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.
5. It’s Time to Move On with Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should? Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
Small spaces can drive you crazy, especially if you need pipes in a compact bathroom, kitchen or laundry to run toilets, sinks and washing machines. Here are some must-know tips and tricks for your home’s high-traffic rooms to free up space for features and fixtures that need plumbing.
Do you live in a city building enough housing? Are your city’s plans sufficient to cope with expected growth, or feasible given past levels of building?
“Forget everything you think you know about vinyl floors from the kitchens of decades past. Vinyl flooring is back and better than ever. It’s durable and easy to clean, and it comes in a vast array of colors and patterns. This often undervalued material deserves a second chance to become part of any contemporary…
“I admit, I’ve seen some vinyl floors hold up for years, but its never been my first choice for any project. I’ll have to look into this a bit more. ” -Micki
Ed Broussard is buying a flood-damaged home for about half its pre-flood market value and plans to fix it up for his family to move in. He says he couldn’t have afforded such a home prior to the flood.
It really doesn’t take a lot of money to put a fresh face on a dated kitchen. Its perfectly ok to update cabinets and countertops and leave the floor for another day. A good steam cleaning of these tiles and you won’t recognize them. Stay tuned for the “after” shots.
It’s a tough decision: to have upper cabinets or not? There are several advantages to going with uppers, but there’s also a lot to say about open shelves or nixing both entirely. To help you decide on what’s right for your kitchen, here’s a guide to the three most popular approaches and other options…
People are becoming increasingly interested in living “greener” everyday lives by reducing their carbon footprint and incorporating practices like recycling and reducing water use. As property managers, steps can be taken to support and implement these practices.
Recycle Bins and Carts
According to a 2014 survey by the National Waste and Recycling Association, one of every three Americans don’t know the proper way to separate recyclable items. Clearly labelling recycling carts and bins, and placing them in accessible places around the property can be helpful to residents.
Provide Information about Recycling
A Kelton Global survey showed the recycle rate in America to be 34.5%, but with many people saying they would recycle more if they knew what items can be recycled. America Recycles Day is set for November 15th of 2015. Property managers could take advantage of the occasion to host a community event with information about recycling.
Recycling tips and methods could also be sent out through email newsletters, text message alerts, or posted to your company website. Just make the focus on digital information to avoid the use of extra paper.
Take Steps to Reduce Waste
More residents are also looking for ways to decrease the strain on natural resources, which means they’ll be expecting properties that honor this. According to Strata research in 2013, 64% of young adults age 18-33 were willing to pay more rent if they could live in a greener community.
Here are some ways to reduce waste in your community rental properties:
Install low-water toilets and ENERGY-STAR-certified appliances.
Encourage online applications and leasing contracts, and store resident files in the Cloud instead of using physical files.
Make virtual tours and digital PDFs of floor plans available on your website instead of printed layouts.
Send electronic monthly statements through email or text messages instead of mailing them.
Being more eco-minded is important to many residents renters, and it’s a smart move for a property owner to employ practices that encourage this. Not only will you attract more attention from conscious apartment seekers, you’ll also increase respect from colleagues and peers.
The beauty of renting is the flexibility it affords renters to relocate – and they know exactly which cities they would like to call home. Nashville and Raleigh both offer a low cost of living and temperate climate, which may account for their leading the list of cities renters most want to relocate to, according to Zillow Research data .
Do you live in a city building enough housing? Are your city’s plans sufficient to cope with expected growth, or feasible given past levels of building?
“Forget everything you think you know about vinyl floors from the kitchens of decades past. Vinyl flooring is back and better than ever. It’s durable and easy to clean, and it comes in a vast array of colors and patterns. This often undervalued material deserves a second chance to become part of any contemporary…
It’s a tough decision: to have upper cabinets or not? There are several advantages to going with uppers, but there’s also a lot to say about open shelves or nixing both entirely. To help you decide on what’s right for your kitchen, here’s a guide to the three most popular approaches and other options…
The beauty of renting is the flexibility it affords renters to relocate – and they know exactly which cities they would like to call home. Nashville and Raleigh both offer a low cost of living and temperate climate, which may account for their leading the list of cities renters most want to relocate to, according to Zillow Research data .
