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Homes of Huntsville investors/ property management / relocating (Draft) (edit/delete)
Market recovery driven by investors;Investors are buying homes at a more rapid pace than ever before, and this time their investments actually make sense. Most are buying homes below replacement cost, or at prices that allow for a reasonable rental return.
Across the 167 metro areas we analyzed, investor activity rose to 29.6% of all transactions in the first quarter of this year, up from the trough of 23.6% in Q4 2009. Our research leads us to believe Q2 activity exceeds Q1, and since last quarter, investor activity has already spiked 2%!
Investor activity has returned to the markets where investors got burned the most. These markets include Miami, Phoenix, Las Vegas, Sacramento, and Riverside (CA). Some markets are now completely dominated by investors, such as Las Vegas (50% of all activity) and Phoenix (46%).We've helped several clients purchase homes of Huntsville without having physically seen them first and can give you a lot of additional information on candidate homes, neighborhoods and areas. We can preview homes, provide our impressions and lots of additional photography. I am however always uneasy until clients are able to see the house and get settled in. If there is any possible way it's best to make at least a short house hunting trip or haveSmall markets are also attractive to investors, especially in inland California (Merced, Modesto, Bakersfield, Vallejo, etc.) and second home buyers are also sensing the bargains, causing huge increases in Naples, The Villages, Tucson and Panama City.
The naysayers will surely point to these facts as a false recovery. While they are technically correct, we are not concerned at all, and are embracing the return of private capital. Most of these investors are paying all cash and buying homes below replacement cost. They are helping the market recover by removing supply at the low end of the market and driving real buyers to higher price points, including new homes. We don’t see a scenario where they dump their homes en masse on the market unless it becomes crystal clear that home prices are headed down again.
Normal wear and tear in rental properties;Source; Sarah Taggart law firm;In the past several weeks our law firm has seen a dramatic increase in the number of small claims court disputes regarding security deposits. This month we are going to discuss the legal concept of "reasonable wear and tear" and the security deposit.
Classically, a security deposit is designed to ensure that the rental premises are returned to the landlord in roughly the same condition that they were leased out, minus "reasonable wear and tear". That phrase often confuses landlords - the tendency is to think that all tenant-caused "damage" (or dirt) is the proper province of a security deposit OR that the security deposit can be used to help defray the costs of "turning" a unit.
That is not the case. "Reasonable wear and tear" includes deterioration of the rental premises that occurs during normal conditions. For example, paint may fade, electrical switches may wear out and break, pull strings on blinds may fray or break, carpet and tile may wear down. These things happen even if the tenant cleans regularly and cares for the premises reasonably. "Damage", on the other hand, occurs from "unreasonable use" and can include extreme build up of dirt or grime, stains on the carpets, broken windows, scorch marks on granite. As a general rule, the longer the length of the tenancy, the more "wear and tear" is reasonable. I find that if landlords look at the security deposit as a damage deposit they are less inclined to make questionable deductions.
Making questionable deductions from a security deposit can be a costly mistake: as noted above, many tenants will sue in small claims to recoup their deposit. The burden of proof is on the landlord to establish that damages exceed "reasonable wear and tear". Proper documentation, including a move-in inspection and photographs, are essential. You must also send the tenant a letter within 35 days of the "end" of the tenancy itemizing any deductions.
Also: routine "cleaning fees" or "carpet cleaning fees" that are always assessed is not a good practice. Each rental premises should be evaluated individually before you begin deducting from the deposit
family or colleagues view candidate homes first.
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The U.S. Bureau of Labor Statistics (BLS) reported that the July, 2012 unemployment rate jumped to 8.3% That’s bad. It means 12.9 million people are without work. And since it is easy to read such statistics without much thought, let’s emphasize it a bit. In the United States alone, 12,922,618 people are “newly” unemployed. These are moms and dads who worry about feeding their children, keeping their homes, and clothing themselves. It’s the equivalent of the entire population of Switzerland and New Zealand – COMBINED. But it’s far worse than that, really. A more accurate unemployment figure for the United States is 15.1%. And we’re not pulling that data from some anti-government site either. No, it’s a figure that comes directly from the U.S. government itself. You see, most Americans don’t realize it, but the government actually tracks 6 different unemployment figures (labeled as U1 thru U6). Since incumbent administrations (of either party) don’t want bad unemployment numbers pinned to them, they only publish a lower figure as the “official” unemployment rate. Currently, the U3 is the published, “headline” rate. That’s what’s at 8.3%. The higher fifteen percent number we mentioned above is the U6 rate, which includes those who have given up looking for jobs in the “short-term.” That means there are far more jobless people in the United States than you might think. 23.5 million, to be precise. That’s more than the entire population of Australia! Up until 1994, the government also tracked another figure. It included long-term “discouraged workers” (as they are officially called). These were people who had given up looking for a job longer-term, or who were forced to work part-time in a low-paying job because they couldn’t find anything else. The government didn’t like these people mucking up its numbers. They didn’t paint a rosy picture. So these folks were conveniently dropped from any official statistic of the U.S. government. The U.S. Bureau of Labor Statistics doesn’t even track these people at all anymore. The government says they don’t count. But John Williams, an economist who runs ShadowStats.com, thinks they do count. So he continues to compile this information. He calls it the SGS Alternate. The latest chart with data since 1994 is to the right. Using the same analysis model the government used to use, he calculates the true number of people currently out of work at 23.6%. That’s a whopping 36.7 million Americans. That’s more than the entire population of Canada! Still not convinced? CNN wasn’t so sure either, so they did their own investigation earlier this year. Their report in May 2012 found that ShadowStats.com -- and the government -- may have it ALL wrong. A person is counted as part of the labor force if they have a job or have looked for one in the last four weeks. This year, only 63.6% of Americans over the age of 16 fell into that category, according to the Labor Department. That means the remainder are not working or not looking. That number now stands at 86 Million people. That includes people who are retired, in school or staying home to raise kids. These are people who truly aren’t looking for work. But when CNN filtered those people out, they still came up with between 36-58 million people in the U.S. who are involuntarily jobless ... or who are working part time because they can’t find anything better. This is a staggering number. It means these people are either draining their savings and retirement funds to survive, or relying on government assistance to get by.
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