The Real Estate Market In Charleston NC: What Investors Should Know

It is true the real estate market in the country is reviving, but this does not mean that all places in the country are good for investing in real estate properties. As an investor, it is very important to do a thorough research and make sure you understand the market trends in the area that you want to acquire properties. For instance, if you are planning to acquire properties in Charleston, NC, the wisest thing to do is beginning with finding a trustworthy property management in Charleston NC Company to advise you on areas where you can get good deals.

Let us highlight some of the key things about the real estate market in Charleston NC and important things that investors should know before acquiring there. Well, when you compare the last year’s buying and selling trends in the area, it is evident that demand for homes in the area continues to up. Property management in Charleston NC has also improved in the area, meaning that the rental industry is also improving.

The biggest question among investors is to understand what has made the local market to shift upward and whether it is something worth considering when investing or not. Well, if you do not know, the city is among the most livable places in the country, with access to basic social amenities and affordable housing. This is actually one of the main reasons where many people are relocating from other parts of the country to live there. In 2015, the area registered about seven percent increase in real estate sales and about three percent rise in prices.

Another thing that investors should note is that the area is likely to experience a shortage of homes for sale in the near future. Presently, the demand is higher than the supply and very few new homes are being constructed. This means that those planning to invest real estate in the area should do so now before properties become unaffordable. If the current demand for housing in the area maintains the same trend, home sellers will be forced to overprice their properties to maximize profits. This will make it difficult for investors to get a good house in the area because buyers will have weak negotiating powers.

Currently, mortgage rates in the area are affordable and this has boosted the growth of real estate in the city. Additionally, the current economic situation in the region has made it possible for investors to buy real estate properties in the area. As of now, the real estate market is a buyer’s market and those planning to invest in the there should do so now. The federal government has indicated that it will increase interest rates soon and this is likely to affect the real estate market too. This means that only a few people will afford to buy homes in the area and the demand for rentals will increase even more. Generally, this is the right time to invest in rental properties in the area when properties are affordable and readily available. Those buying real estate properties in the area now will definitely make more profits if they sell them in future.

 

The Atlanta Real Estate Market Seems to be Heating Up

The real estate market is getting on track in most states and many people are now considering investing in real estate properties as a source of passive income. However, not all parts of the country are doing well and aspiring investors should research the trends in the cities where they want to buy properties before committing their hard earned money. This article highlights on the situation of real estate in Atlanta in 2015 through 2016 in order to help aspiring investors make informed decisions. The article also sheds some light on the situation of the Atlanta property management trend that could benefit those planning to become property managers in the region. However, investors should note that the real estate market is yet to stabilize fully in many parts of the country and investors should research extensively before buying properties.

Last Year in Review

Looking back to the year 2015, real estate in the region experienced tremendous growth and investors reaped huge returns. Both residential and commercial properties appreciated with a big margin since the 2008 crisis. According to the report given by some Atlanta property management companies, vacancy rates in the area were the lowest in 2015 compared to any other year after the crisis. It is also worth noting that the trend is expected to keep on improving and experts project that the Atlanta real estate market will continue to thrive throughout 2016. This is because of the rising job market and growing housing demand in the region.

Atlanta Real Estate Outlook

The city of Atlanta is a commercial hub in the country and job growth in the region is expected to increase commercial leasing in 2016. According to a report by Integra Realty, demand for offices in the region has increased rapidly since 2014 and the trend is expected to continue improving throughout 2016. Over 500,000 jobs have been created in the area annually since 2012 and this has caused the demand for offices to rise in Midtown Atlanta. Atlanta property management companies have identified the growth of the movie and technology industries as some of the key sectors that have increased demand for commercial properties in the region. Many tech companies are establishing businesses in Georgia and demand for commercial space is expected to rise year after year.

It is worth noting that not only commercial properties are highly demanded in Atlanta. According to the interviewed Atlanta property management companies, the demand for residential properties is also on the rise and rates increased by 10 percent in the first quarter of 2016 since January 2015. Many people are relocating from other parts of the country and the rest of the world to Atlanta in search of greener pastures. Subsequently, this has caused the demand for housing in the region to shoot up in the recent years.

The majority of the people relocating to Atlanta are Millennials who have not accumulated enough wealth to buy homes. Therefore, rental properties are highly demanded in the area. Some of the highly demanded properties in the region include condominiums and rental homes. It is also worth noting that the number of people visiting the area for vacation has increased year after year and the demand for vacation apartments and homes is on the rise. However, the number of people willing to buying homes in Atlanta is still low and those aspiring to venture into the business of flipping houses have to wait longer for the market to stabilize.

According to the report given by the Urban Land Institute, Atlanta is among the top six real estate markets to watch in 2016. Properties are relatively affordable compared to other real estate hotpots in the country. Therefore, it is the right time for aspiring investors to acquire more properties in the region when they are still affordable.

My Opinion of the Atlanta Market

Based on the current real estate market trends, Investors who will buy properties in the region before the end of 2016 are going to make huge returns if they decide to sell their properties three to five years later. Rental properties are the most favorable in the region because rental rates are expected to continue increasing throughout the year. More so, the number of property management companies in the region has also increased. This has made it easier for investors to own rental properties in Atlanta even if they do not live there. All that an investor needs to do is to look for a local property management firm to take care of the investment on their behalf.

Tips on Finding a Sacramento Property Manager

Investing in Sacramento real estate is a booming business that can enable you to retire before you reach 40 years old. Here the demand for rental properties is extremely high and rental rates are evaluated upward year after year. However, you need to be ready with enough capital if you want to acquire property in Sacramento and its surroundings because real estate is very costly. Real estate management in the area is also very competitive and hiring a good Sacramento property manager is very crucial if you want to make high profits from your investments. The biggest question for many investors in the region is how to get a competent property manager in a city where there are numerous dubious property managers. Well, here are some basic tips on finding a Sacramento property manager that can help you.

  1. Ability to handle key tenancy related issues

Property management in the area is quite involving because there are numerous demands from property owners and tenants to be met. Landlords spend a lot of money to acquire properties in the area and they equally expect good returns to recover their money and pay their mortgages. On the other hand, tenants pay huge money stay in rental properties and expect to get outstanding services. It is, therefore, important to make sure your property manager understands how the local market works and can comfortably satisfy the demands of the tenants without compromising your expectations. This is a very important factor if you want your investment to be a source of passive income.

  1. He/she should be a local property manager

Real estate management is a booming business that has attracted both local and foreign property managers. Here everyone wants to take advantage of the reviving real estate market and the number of property managers in the area is expected to continue rising. However, the fact remains that local property managers are always the best because they have a better understanding of how the local tenancy market works. A local property manager is also in a better position to advise you on where you can get better deals if you want to acquire more properties and expand your real estate portfolio.

property manager Sacramento

  1. He/she should have adequate resources

Property management in the area involves a series of activities that include doing repairs and property renovations on behalf of the clients. A good property manager should have adequate resources that will enable him/her to handle the management tasks comfortably. It is advisable to consider hiring a property management firm than an individual manager. This is because property management companies have adequate resources than individual managers, hence they are in a better place to render better services.

  1. Honesty and reliability

The majority of the property owners in Sacramento do not live near their investments. Additionally, those who live near have other commitments and it is difficult to keep checking the properties and tenants on a routine basis. Consequently, the majority of the property owners rely on the services of the local property managers. It is, therefore, important to make sure that you have hired an honest and reliable property manager to look after your investment. You do not have to travel for long distances to check your investment if you live outside Sacramento as long as you have hired a reliable and honest property manager to take care of it.

  1. Good communication skills

A good property manager should be a good communicator. Remember that when you hire a property manager to look after your investment, he or she serves as the link between you and your tenants. Your property manager should, therefore, be easily reachable and someone who is ready to give you a timely update about your tenants and what is happening in your properties. I have had experience working with 2 Rivers Properties in Roseville, CA and they’ve always done a great job at communicating issues that occurred with my tenants. It served as a great way for me to know what’s going on in my property, without having to deal with the headache of the situation.

property management

  1. Good understanding of the local rules and regulations governing tenancy in the area

There are various rules and regulations set by the housing and Sacramento local authorities to protect the interest of landlords and tenants. Violating any of these regulations can result in court cases and huge penalties that can decrease the profitability of your investment. It is, therefore, important to make sure your property managers understand the local tenancy rules and regulations and is capable of observing them. Your property manager should also be able to guide you in legal matters to avoid having problems with the law enforcers in the area.

How to Know When You Need New Windows for Your Home

It’s no secret that renovations can drastically increase the value of your rental unit. Many homeowners tend to think that investing in new windows is not necessary. However, as much as you want to cut down the renovation cost in your home, sometimes it becomes inevitable to replace the windows. Old windows become dangerous to your family members or the heating and cooling bills become so high and you have no option but to replace them. If yours is a historic home, it becomes necessary to replace the windows before renting or selling your home as a way of making it attractive to possible renters and buyers.

new windows

However, you need to make sure window replacement is necessary before doing it. Else, you can just repair windows and improve the status of your home. The following are some of the basic things that can help you to know if you need new windows for your home.

  1. When you are generally unhappy with how your windows look

Your home should make you feel relaxed and at home after working the whole day. You need to be happy with how your home and all its fixtures and fittings look in order to appreciate it. However, if you strongly feel unhappy with the way the window panes and window frames of your home look, then it is the right time to replace them with something that makes you feel comfortable.

  1. When there are cracks in the window panes

Cracked window panes not only give your home a bad appearance but they are also hazardous. In many cases, it is difficult to repair windowpanes and the best thing is to replace them. Cracked window panes can discourage possible buyers and renters and your home can remain listed in the market for a long time.

  1. When the window frame is cracked or rotting

It is important to make sure the window frames in your home are in good condition all the time. Sometimes repairing window frames may cause cracks in the window panes or even leave ugly marks on your windows. It is, therefore, important to make sure you have replaced window frames in your home if you notice they are cracked or rotting.

old windows

  1. When the window glass is too hot during summer and freezing cold during winter

Windows determine the temperatures in the house because they serve as entry points for air to and from the house. If you touch the window glass in your home and realize that they are too hot during summer and too cold during winter, then it is the right time to replace your windows in order to maintain average temperatures in your house.

  1. If you have difficulty opening and closing the windows

Windows in your home should open and close freely without too much pulling and push. However, if you notice that someone has to struggle to close or open windows in your house, then it is the right time to replace them. This is normally common in old windows or double and single hung windows that are not well balanced. Trying to repair the window frame can cause more mess and the best thing to do is to have the frames replaced.

  1. If you are renovating a historic home

If you own a historic home and you are renovating it to rent out, or even sell, it is important to consider replacing the windows. Old windows have weak and rotten frames that could give your home a bad image and even make it risky to those living there. It is, therefore, important to replace the windows of your home as a way of improving its appearance.

  1. After surviving a severe storm

Windows are among the areas of a home that are badly affected by a storm. It is, therefore, important to consider replacing the windows after surviving a severe storm if you want your home to remain strong. Sometimes the damage could be extreme and doing repairs could end up giving your home a bad look. It is, therefore, wise to replace your windows so that they can withstand the next storm if you live in an area where weather conditions are unpredictable.

  1. When you want to reduce energy bills in your home

Windows can provide heat in your home during winter by letting some sunlight inside. However, if your windows are drafty and cannot allow sunlight to enter the house, your energy bills can go up with about 10 to 25 percent. If you realize that your bills are shooting up during winter, then it is the right time to replace your windows with energy- efficient ones to reduce your cooling and heating bills.

How to Choose the Best Spokane Property Management Company

The real estate market in Spokane is doing very well and investors with rental properties are smiling to the bank. The economy and population of the area have grown tremendously in the last five years and the demand for rental property is very high. Spokane is among the best areas to live in Washington and that is probably the reason why more people are looking for residential properties to rent in the region. However, those planning to acquire rental properties in the area should know that hiring a Spokane property management company to take care of their investments is very important if they want to maximize their rental earnings. The following are some basic tips on how to choose the best Spokane property management company to look after your real estate investment.

Spokane

  1. Consider companies charging affordable and reasonable management fees

Property management companies in the area charge between 7-12 percent of the rent collected for their services. It is important to make sure you have considered the property management company with the lowest rates as long as their services meet your expectations. You need to be very careful because some local property management firms require property owners to pay a percentage of the total rent, whether collected or not. Try as much as possible to avoid companies that charge for total rent not collected because that is like paying them for work not done. In many cases, such property management companies have poor marketing strategies because they know that at the end of the day you will pay them.

  1. Consider the one with a more detailed management agreement

When hiring a property management company in Spokane, it is important to note that the services you get are in accordance with the management agreement between you and your manager. It is, therefore, important to make sure you have examined the management agreement with the company that you are hiring properly and understand the duties stipulated. Check the services provided, extra fees charged and whether they comply with the fair housing laws in the area. It is also important to make sure you also understand your responsibilities as the property owner because some property management companies expect owners to participate in the management of the properties.

  1. Check their certification and license

It is very important to make sure that the property management company you are hiring has the required certification and license from the local authority to manage properties in Spokane. This serves as an assurance that your property is in safe hands and prevents you from having issues with law enforcers. You need to counter-check with relevant authorities to confirm whether their license is active or not. Some property management companies in the area have inactive licenses and it is important to make sure everything is up-to-date.

  1. Compare several property management companies

Many property owners in the area do not take their time to evaluate several property management companies before choosing the most suitable. Most of the investors pick the management company that comes their way because they believe their services are great. If you do not know, every property management company in the area will tell you how great their services are in order to convince you to contract them to manage your properties. It is, therefore, important to interview several property managers in the area and pick the best. You may be surprised to see that there are better property management companies in the area other than the one you had in mind. When I was searching for the property manager I use in Spokane http://www.guenthermanagement.com I interviewed 5 different firms before deciding to use them. It take a bit of effort to find a good property manager but it is definitely worth it. Working with a property management company is a long term relationship so it’s worth

  1. Check their past performances and current workload

This is a very important thing to do when hiring a property management company in Spokane. You need to check how the company you want to hire has been performing in the past and see whether they meet your expectations. You can also consult some of their past and existing clients in order to get some facts about their performances. It is also important to check the actual properties they are managing presently and speak to current tenants and property owners to see if they are happy with the services of the company. If the property management company you are hiring is already taking care of many properties and they have limited employees, then you need to think twice before hiring them to manage your properties. Who knows, they might be struggling to satisfy their existing clients and it is unwise to add them more burden.