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Latest Blogs

Holiday Parking

Holiday Parking
If your apartment complex is anything like the one that I live in, parking is a highly sought after commodity. Each apartment only receives one assigned parking spot and there is nowhere near enough parking for each person to have another spot. There are visitor spots, but they are extremely hard to find during the day and impossible at night. During the holidays they become even more difficult to come by and unfortunately there are no lots within walking distance which can be used. This often results in people parking in spots which are reserved for residents that have been vacated for whatever reason only to fuel dismay when the person returns back home.
One thing that you may want to do if parking is an issue on a normal day is release a letter to your residents gently reminding them that parking spaces are limited and residents have priority in reserved spots. The holidays often see family and friends coming to visit and this can result in an even worse scarcity of valid spots. Make sure that your residents know that double parking and parking in non-valid spots will not be tolerated during the season, especially if you are in an area that sees the need for snow removal often.
Another thing that you can do is offer a few numbers for towing companies. No one wants to be “that person” that gets someone else’s car towed during the holidays, but no one wants to be the person who can’t go home at night due to someone being in their spot either. It gets cold at night during this time of the year and I don’t know about you, but the thought of having to walk the better part of a mile due to someone taking a spot that isn’t theirs right in front of my door isn’t something that fills me with that warm feeling the holidays are supposed to bring.
Unfortunately, the holidays always bring a lot of stress to people. Parking at your own apartment shouldn’t be one of the reasons for this. Do your best to help out your residents when it comes to parking and hopefully everyone will get through this season with a smile on their face and some warmth inside and out.

Holiday Safety

Holiday Safety
The holidays are meant to be a wonderful time of the year filled with love and friends and family. Unfortunately it is also full of dangers and things can change in an instant. Now I’m not trying to fear monger here, but the fact is that nearly 47,000 fires occur during the holiday season and that’s only one type of tragedy that can occur. This isn’t taking into account car accidents, weather related injuries, or burglaries that are also often higher during this time of the year. Thankfully there are a few things that you can do to help make sure that nothing takes down your holiday spirit.
One of the biggest problems during this time of the year is the concern of fires. Candle fires, for example, are four times more likely to occur during the holidays than any other time of the year. Having a tree can also be dangerous if it is allowed to dry out, as they quickly become fire hazards. It has been reported that one in every 22 fires that are started by trees result in at least one death. It doesn’t matter how much egg nog you’ve had, that is a sobering fact. Always make sure that you are using lights that are safe, that all candles are only burned when someone is watching them, and most importantly that all fire detectors are operable. Having a working smoke alarm cuts down the death rate due to fire almost by half.
Another thing that you can do to help keep yourself and your family safe during this season is by making sure that you have the right tires on your car. Having snow tires can make all of the difference in the world and will help make sure everyone gets home safe from traveling to grandma’s. While you are gone, make sure that nothing has been left that can overheat and that all candles have been put out. Also, it may be a good idea to keep your curtains closed so that people can’t see what presents you got to open.
From all of us here at Talley to all of you, we wish you the best holiday season. We hope to see you next year and will continue to do all we can for you and yours!

Critters

Critters
During the colder months, most of us just want to stay inside. After all, it can get pretty miserable outside, especially at night. I don’t know about you, but if I had the option between outside and inside it wouldn’t even be a choice for me. I don’t even particularly like sleeping outside while it’s warm out. Unfortunately, I’m not the only one with this thought. Often, smaller critters will try and find their way indoors to protect themselves from the elements as well. I know that when I was younger this was about the time of the year that we would start seeing mice and other vermin in our basement. Depending on how long my father accidently left the garage door open, we may even find a raccoon or a few opossums as well.
While most apartment residents don’t often have this issue, at least as far as they know, a good amount of people who are renting houses do. This becomes more true the older the house is. Mice, squirrels, chipmunks, and other small creatures will tend to try and get inside to get away from the harsh cold that hits especially at night. If you have this issue you know that it’s more than just sharing a basement with a couple of tiny things with a tail. Often they will come into other parts of the house, leaving droppings and taking food. If this begins happening, it can quickly become an infestation that can take months and thousands of dollars to fix if not taken care of early.
There are tons of options that you have to prevent this in the first place, however. Some people use both humane and not so nice traps while others use homeopathic tricks to keep these critters outside. Others purchase small boxes that emit a frequency that is said to keep mice and bats away. Whatever your method, be sure to keep it out of the reach of children and pets just in case. Also remember, prevention is always the best way to deal with things like this. If you can keep these animals from getting in, you will have a much better winter than someone trying to get them back out. An exterminator is never a good person to have to call for the holidays.

Decorations

Decorations
During December, many people like to decorate their homes and apartments to reflect their specific religion. Even if someone doesn’t celebrate any of the holidays, they will sometimes decorate anyway simply because they think the lights are pretty. How many of us would beg our parents to drive us around just so we could look at the different houses that were decorated in our area? I know that was always one of my favorite things to do around this time of the year. However, if you own an apartment building or complex, you may have to set some parameters on decorations.
One of the eternal debates among people has always been whether you should take down the lights after the holidays or leave them up on the roof throughout the year without turning them on. While this is a decision that you can make if you own your own home without a homeowners association, it is a bit different in most housing complexes. As an example, my apartment complex allows decorations for two weeks before and two weeks after any specific holiday. It also does not allow lights to be left on overnight in the event that they may disrupt others trying to sleep. Lights that flash brightly are also not allowed for similar reasons. Most other decorations are not regulated as long as they are inside your own apartment.
Obviously you don’t want to dampen anyone’s holiday spirit, however there is a level of practicality that you need to balance when it comes to the limitations of decorations that you will allow on your rental property. This is especially true if you have an apartment building or a complex that houses multiple people. Bright lights may cause an issue for others trying to sleep and the sound of fans that run those inflatable characters can keep people awake if they aren’t used to the noise. Although they may be fun to have up, you need to make sure that everyone’s comfort is balanced with the holiday cheer.
If you don’t want to give out a protocol for holiday decorations, give a glance to some of them just to make sure that nothing goes against common sense. After all, the holidays can get a bit extravagant and we can all get carried away with the excitement of the season.

Leaf Removal

Leaf Removal
Autumn is always such a lovely time for many areas of our country. The changing colors are a large draw for people, even causing the term “leaf peepers” to be coined up in New England. For all of the beauty that some people see when looking at these changed trees, others see nothing but a nuisance. Having all of those dead leaves laying around their lawns and driveways can be considered unsightly and when it rains they may even become dangerous. This is just another thing that you need to be aware of as a landlord, especially if maintenance falls to you instead of to your resident.
Leaf removal is one of the stickiest situations that you will find yourself in outside of snow. Most people don’t want leaves everywhere but dislike having a leaf blower running constantly. Naturally you won’t want to be outside by yourself with a rake gathering a huge pile, especially if you have a large property to deal with. This generally means that something with a motor is going to be your best bet in regards to getting all of the leaves and twigs together. So what can you do to keep everyone happy?
The best time to collect leaves for removal is at a time when most people are either at work or already awake. I can speak from experience that no one likes to be woken up at seven in the morning on a Saturday by a leaf blower. If you are able to do this yourself, it will obviously save some money but hiring a company to do this is perfectly fine as well. Having people come in during normal working hours will generally prevent much complaining from your residents.
Always be sure to check your township bylaws about leaf piles and removal. Some places have trucks come around to collect them while others have you purchase bags and deliver them to a certain location yourself. You always want to be sure to stay on top of these practices and remind your residents of what the law states as well. You may even want to try and have a work day where you offer food or refreshments in exchange for your residents helping out to clean up the leaves. Ask around and see if anyone would be willing to help out.

Latest News

Charlotte fastest growing city over last 10 years

Charlotte fastest growing city over last 10 years

CHARLOTTE, N.C. — Charlotte was the fastest growing city in the last decade. New numbers from the Census Bureau show the urban area grew 65 percent from 2000 to 2010. The next fastest growing urban area was Austin, Texas at 51 percent.Las Vegas came in third at 43 percent. To put that in perspective, the country’s entire urban population grew 12 percent during the same time. The state of North Carolina ranks second in the nation for largest rural populations with 3,233,727. Texas came in first with 3,847,522 people and Pennsylvania came in third with 2,711,092 residents.

 

See more @ http://www.wsoctv.com/news/news/local/charlotte-fastest-growing-city-over-last-10-years/nLfBM/

Talley Properties Announces Opening of New Facility

Talley Properties Announces Opening of New Facility

Charlotte—Talley Properties Inc., a property management firm serving the Charlotte area real estate market has announced their move to a new facility 2716 Westport Road. The move will be official March 23rd.
The brick, 2-story 7300 square foot building is situated on an acre plot and includes 5000 sq feet of office space and a 2300 sq. foot warehouse. It was built in 1998 and served as a corporate office for a local builder.

According to owner and President Tony Moore, "Talley Properties has experienced tremendous growth since 2004. We feel this new office will provide us with a stable location to continue to serve our existing clients while giving us room to continue to grow and expand our services." Moore received his BS in Management and Production Sciences from UNC Wilmington. A native of Lincolnton, he now resides in Gastonia with wife Cathy and their children, Melissa and MaKenzie.

Talley Properties has specialized in midrange to high end residential and commercial property management since 1980. Their mission is to provide full service management to a diverse group of investors. With the goal to achieve long-term relationships with their investors, they are on call 24-hours a day, and provide quick, efficient same day service. Visit Talley Properties at www.talleyproperties.com or call 704-332-2206.

In shaky economy, renting increasingly tops owning

In shaky economy, renting increasingly tops owning

It's an ideal time to buy a home, but many potential buyers in Sioux Falls are forgoing home ownership and the American dream.

Instead, despite historically low interest rates, a drop in home prices and an ample inventory of houses to chose from, many are opting for short-term rental agreements.

Some question whether there's still value in owning a home .

Others say the popularity of renting is a trend that will be a short-lived function of economic uncertainty. Many potential first-time homebuyers don't want to be tied down to a home. They don't know whether the future will bring a pay raise or a layoff. So they opt for an apartment or town home.

The trend of renting will turn around eventually, but it's going to be slow, said Michael Roach, assistant professor of economics at the University Center and Dakota State University.

"That's a short-lived phenomenon we're experiencing simply because of where the housing market has gone for a couple of years," he said. "(Homeownership) is still the American dream; people still want homes. People still want to own their own home, but they want to do it in an environment that makes economic sense."

As the local economy grows and adds jobs, and as new businesses pop up, Roach said home ownership will pick up.

"Especially for younger people, younger families, nobody likes uncertainty when they're dealing with that amount of money. It's the biggest investment most people will make in their lives," he said. "People are gun-shy still, and it's going to take a little while to get over that."

Fear is the No. 1 reason for the shift from home ownership to renting, said Tony Ratchford of the Ratchford Group with Hegg Realtors.

He said although home inventory has dropped in Sioux Falls, and business is better than last year, it's not as good as he had hoped. He's had clients who sold homes and moved into rental properties to get out from under some debt. He also owns five rental properties that he said he gets calls about weekly.

"It's just been absolute fear. ... They just don't have confidence in the economy," he said. "People were careful with their money. They realized the cost of gas, cost of food and have a fear of the economics of the world that brought them to the realization to pay off debt, pay off credit cards and just hunker down a little and make life cheaper."
Ratchford said he thinks Sioux Falls has hit bottom and predicts things will pick up by summer. At that time, he said the market will be more balanced, home values will increase, rentals will be mostly full and prices will be up. People will realize it's cheaper to buy than rent.

"The American dream of owning your own home, it's such a great investment, but the last three or four years we haven't seen that," he said. "Some people are questioning whether or not there's any value in owning a house anymore. I know there is, and long term it's going to be a big deal. It's part of the cycle of what happens when you have a down dip."

Kayla Pederson, 27, never has owned a home, and said financially, she can't buy a house now. This month, she moved into a two-bedroom apartment with her 4-year-old son after living with a friend and saving money.

"These days, it's more common. I'm hearing friends and acquaintances move in with friends or parents to catch up until they're ready to get out on their own," she said.

Pederson recently moved back to Sioux Falls from Colorado. Although she has a degree in business management, she was unemployed for more than two months before she was hired as an IT support technician in June. She plans to own a home someday but said renting is the best option now.

Pederson passed on buying a foreclosed home in the Denver area. She's glad she did.

"With the economy, you could get more bang for your buck, but when we had time to think about it, we decided renting was a better option," she said. "I knew eventually I was going to be moving back home."

Matt Larson, president of the Realtors Association of the Sioux Empire, said pending home sales were up 16 percent in October compared with last October. Pending sales this year are up 0.9 percent. New listings and inventory are down.

Larson said people remain cautious.

"It should start improving in 2012, and I think we're going to lead the country out of it in the Midwest, because we didn't have the terrible downside," he said. "I think we're going to outperform most markets."
Rental vacancies in Sioux Falls are at an all-time low of 4.58 percent, said Dan Siefken, executive director of the South Dakota Multi-Housing Association. That's the lowest the organization has seen since it began the vacancy survey in 1996, he said.

It's also down substantially from a record-high of 13.28 percent in January 2010.

"I think (apartment living) is back in vogue," he said. "People went through a period of time where they were sold on the fact that home ownership was for everybody and that you were throwing your money away if you rented. Now they're realizing that renting is a good bargain."

Siefken said the high vacancy rates of 2010 can be attributed largely to the first-time homebuyer tax credit perks. Now, he said, renters are finding a savings in renting when they don't have to pay property tax, maintenance, insurance, lawn care and snow removal and other costs.

Today's renters don't want homeowner costs, but they do want more than a couple bedrooms, a bathroom and a kitchen. They want units with dishwashers and a washer and dryer. They want complexes with heated garages or underground parking, fitness facilities, pools and Jacuzzis, Siefken said.

"They're pretty much must-haves," he said. "Those apartments are getting harder and harder to find; those complexes have almost zero vacancy."

Angie Stingley, manager for Boulder Creek and Boulder Pointe Townhomes, said she has 184 units and expects one vacancy this month. She said if there is a vacancy, it doesn't last long.

The Dunham Co. will start construction next spring on a 262-unit apartment complex on South Grange Avenue. CEO Don Dunham expects it to be ready for tenants next fall.

"The old days of Section 8 housing and 4-plexes, that's not good enough for young professionals today," he said. "If you make enough money, you want to live someplace nice, but that doesn't mean you want to buy a house."

That's why Dunham hasn't built any single-family homes in more than two years. There's no demand.

He said the company used to have 40 to 50 spec homes for sale at all times throughout the area that includes Sioux Falls, Dakota Dunes, Yankton and Elk Point. Dunham said the company has about 150 lots fully developed and ready for single-family homes, but there's no plans for buildings.

"We're just trying to liquidate what we still have," Dunham said. "There is no demand. People are seeing that a home is not the deal it used to be anyway."

Rental Prices Soaring as Home Values Stay Low

Rental Prices Soaring as Home Values Stay Low

Foreclosure Deals, a leading provider of foreclosure listings, news and information, has released new research on home prices and rent values across the nation. Drawn on data collected from regional and local real estate markets, the numbers demonstrate the relationship between the average cost of rent and the average cost of a home purchase in each state, which can help homebuyers choose the best markets in which to invest.

"Foreclosures have had a huge impact on home values," remarked John Evan Miller, a real estate analyst with Foreclosure Deals. "In almost every market, prices are well below their 2008 values, simply because there are so many homes available."

Foreclosure Deals presents the new data compared with values recorded in 2008 using an infographic available on their web site, and the impact of the foreclosure wave is clear. In many areas, home prices are extremely low, while rent prices are notably higher.

"Rents are up, and they're going to stay up," said Miller. "Even though it's the best market for homebuyers we've seen in over a decade, the recession made a lot of people reconsider spending at the time, so they rented. This drove up demand, and prices, for rental properties."

Despite the sluggish economy, Miller points out that this is the perfect market for real estate investment. He adds that mortgage interest rates are also at historic lows, creating other opportunities for value investing.

"Not only do you have rock bottom prices, you've got a terrific market to rent out your property while you wait for prices to rise. And they will rise. Home values will come back, but the days of 3.5% and 4% mortgages aren't going to be around forever. Once home values rise, those interest rates will rise too."

Experts currently predict average rental costs to be 4.5% higher than by the end of 2011 than their value last year, and up another 3% in 2012. In contrast, foreclosure homes currently offer savings of anywhere from 10% to 50% off market value. As buyers who put off buying a home during the recession look to start buying again once the economy improves, it will create the opportunity for big profits for foreclosure investors.

"In a great many cases, you're going to end up paying less on a monthly mortgage payment if you buy a home than you would in rent on the same property," said Miller. "Could there be a better reason to buy than that?"

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