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Latest Blogs

5 Things to Consider About Property Location - Charlotte Property Management

5 Things to Consider About Property Location - Charlotte Property Management

Location, location, location. If you’ve heard it once, you’ve heard it a thousand times: where you build your home is just as important as what you build. A suburban neighborhood is going to feel very different from a property set along a highway, which will feel very different from a beach house on the coast. It’s all about the surroundings. Naturally, different people will be looking for different things, but here are a few general things to consider when looking into property location.

  1. Immediate surroundings. This is a big one. Obviously, a home with spectacular lakeside views and a large property will dictate a higher cost than one with a small property set alongside a major road. But, unlike other items on this list, the immediate surroundings can be modified to a certain extent. Accentuate the favorable aspects of the property with the virtually-unlimited potential of landscaping: lawns, flowers, trees, bushes, decks, patios, ponds, and even fire and water features.
  2. Distance to city or town. Transportation is a massive consideration when looking at the location of a property. One must consider their morning commute, as well as access to modern conveniences such as the grocery store and the doctor’s office. How long will it take to drive to these places? Are you willing to spend the money on fuel? No one wants to feel like they spend the majority of their time driving between their home, their job, and their errands. The further a property is located from a major city or town, the less likely you or other prospective buyers are going to be willing to spend.
  3. Neighborhood appeal. What kind of neighborhood is the property set in? Perhaps it’s a quiet suburban neighborhood with young families and elderly retired folks. Perhaps it’s a sketchy part of town with a high crime rate. Perhaps it sits apart from other homes entirely, individual and removed from a cohesive neighborhood. These are all things to consider when looking at a property. Research the area, compare prices, and maybe even get a second opinion from the locals.
  4. School district. If you have children, this may be one of the more important decisions. Favoring a particular school district will put a hard limit on your property options. Furthermore, districts themselves are tricky. A single road may serve two separate districts between one end and the other, so pay close attention to the boundaries and make sure to confirm your decision with someone who is knowledgeable on the subject. You and your children don’t want any surprises when the first day of school arrives.
  5. Future development & amenities. When considering the location of the property, what does the surrounding area offer currently, and what does it promise in the future? Is there potential for growth and development? Are there amenities such as pools, parks, and sports facilities? Although these have nothing to do with the property itself, these are major factors in its value.
When you’re looking for a property, be sure to keep location at the forefront of your mind. It’s all about the appeal of the land and the surrounding area. It may be tempting to sacrifice location for your dream home, so be sure to count the cost and weigh your options. Infrastructure can be built or changed, but location is permanent.

Ways to Keep Up Property Value - Charlotte Property Management

Ways to Keep Up Property Value - Charlotte Property Management

How much is your property worth? Unfortunately, that’s not entirely up to you. Appraisals take many factors into account when determining the value of a property: location, market, infrastructure, etc. The list goes on, but these are some of the more prominent categories that evaluations fall under. While the location and current market may not be under your control, that’s not to say that you can’t improve the property value yourself. Maybe you’re thinking of selling your home and want to get the best offer possible. Read on for a few ways to maintain a relatively high property value before your next appraisal. These tips can be split into two main categories: property maintenance and building maintenance.

Landscaping may not seem super important in the long run, but a little time and effort can increase curb appeal and boost your overall property value. First things first, let’s begin with the lawn. How does your lawn compare to those of your neighbors? Is it run down, brown, or full of weeds? In the interest of raising your property value (and keeping your lawn from becoming an eyesore), it might be time to pay special attention to your grass. Keeping it neatly mowed is a good start. Consider weed killer and lawn fertilizer to keep the grass healthy and green. As an added bonus, use a manual or electric edge trimmer to give your lawn a professionally manicured look, especially if you live in a small community or neighborhood.

Trees, bushes, and flowers can breathe life and color into a property. First impressions are still important when considering overall value. Start tending a garden, or hire a professional landscaper to transform your land. And it’s not only the plants that need attention, but the infrastructure as well. Decks, patios, gazebos, fences, walls, and outbuildings need to be properly maintained. Ensure they are stained, painted, and secured with the proper hardware.

Of course, the house itself is crucial as well. You’ll be glad to know that you don’t have to go knocking down walls and adding rooms to boost your property value. This can be done in smaller, less intrusive ways. For example, make sure the home appliances and utility systems are properly updated. Leaky pipes, faulty wiring, and an outdated refrigerator certainly won’t contribute to the overall value. While you’re at it, consider incorporating the new smart-home technology currently on the market. Virtual assistants, automatic lights and thermostats, and doorbell cameras can raise the value and make your house stand out from the crowd.

Finally, keep your home clean and attractive. Don’t sacrifice your personal style; rather, use it to leave your mark on the house. Accentuate all the best parts of your home using color, texture, and decor. Even a fresh coat of paint and rearrangement of the furniture can liven up a room. Show the appraiser how you’re using the space and highlight its potential.

Property value is complex and multifaceted. Often, it’s based on factors that are out of your hands. But maintaining your home and your land is a great way to boost their value. Follow these tips to ensure your property is appraisal-ready.

Keeping Up With Trends - Charlotte Property Management

Keeping Up With Trends - Charlotte Property Management

The only thing constant is change. This is a saying that was first attributed to the philosopher Heraclitus around 500 B.C.E. While change might be the only constant that Heraclitus believed in, this phrase has created a bit of a paradox because it has certainly stayed relevant and accurate itself. Things seem to change at such a rapid pace that it can be hard to keep up. If you look at technology, you'll see exactly what I'm talking about. In the past 25 years we have gone from most people having a phone line or two in the house and maybe one computer to having no land lines and a phone and computer combination in their pockets. We have seen the change from cassettes, to CDs, to digital music. Now, vinyl records are coming back into style to use. This also helps to show that what goes around comes around again.

While this may not seem like it has much of anything to do with property ownership or rental units, it actually illustrates a large issue that many owners have. Trends change a lot, and floor plans and décor are not immune. If you've ever seen a house that hasn’t been updated since the 1960’s or 1970’s, you probably noticed things like shag carpeting and bathrooms with pink and/or blue tiles, bathtubs, and sinks. As I’m sure you know, this is no longer a popular or desired mainstream design. In fact, people are actively tearing this style out of their homes and replacing it with something completely different. This sometimes is in anticipation of finding new tenants or selling the house, as integrating modern trends will increase the property value. If there’s one thing we can be sure of, it is that in another 30 years or so, there will be a new style that is desired in both the layout of the home and the cosmetic appearance.

Preparing your rental property for a new resident in a way that will make it appealing to modern audiences isn’t always easy. We can help with some of the changes that may need to be made. If you call Talley Properties, we'll have a discussion about ways to make it happen. We know that getting a place ready for a new tenant can take a long time and is often stressful. Our goal is to make that transition as easy and painless as possible for everyone involved. Give us a call today, and learn what we can do to help you out!

Moving Large Items - Charlotte Property Management

Moving Large Items - Charlotte Property Management

One of the worst parts about moving is having to lug around the bigger “stuff”. Things like kitchen tables, couches, bookcases, and anything else that's bulky can be an absolute nightmare to transport. Even if you have a pickup truck or a rental truck, it doesn’t mean that you are in the clear. These items are often heavy, awkward, and may not even seem worth it to move. However, it always seems like a good amount of them are things you would never want to lose. This often happens with family heirlooms or furniture. It can be difficult to get the help that you need to move big things, especially depending on how far you need to carry them inside and up stairs, but there are always a few options open to you.

The most common method of moving these types of things is to hire help. You often see signs on the side of the road, on the television, or even hear them on the radio. While people normally hire companies to move an entire house, there is frequently a plan that they offer if you only need help with a few big items. After all, you don’t want to get hurt trying to move something or damage whatever it is that you’re trying to take with you. If you leave it to the professionals, you don’t generally have to worry about your furniture getting damaged or possibly dealing with an injury. These moving companies have methods to make this process easier, and more efficient..

If you aren’t able to hire anyone, we suggest taking multiple trips with less items each. It make seem like it takes longer, but not by too much to warrant getting injured while trying to carry too much. When you carry too much, you can hinder your ability to see where you're walking and catch yourself if you fall. You never want to take all of your large ticket items at the same time in a personal vehicle and that many large items can tire you out quickly. Make sure that everything is appropriately covered and is taken apart if at all possible to make things lighter. As much as you don’t want anything bad to happen to your items, you need to keep yourself safe. If there is anything you can do to make a move easier, we definitely suggest at least trying it.

If you have any questions about moving into a new home, don’t hesitate to call Talley Properties. We can assist you in any number of ways and will do everything we can to make your transition into your new residence smoother. We know that moving is stressful, but there are ways of lessening the burden. With Talley, your next move may just be one of the easiest days of your life.

Moving With Animals - Charlotte Property Management

Moving With Animals - Charlotte Property Management

Our pets are some of the most important companions in our lives. Whether you have a furry friend or a scaly one, they probably mean a lot to you. Having a pet is something that most people can’t imagine their home without, and for good reason. This is perfectly fine, but what happens when you need to move to a new apartment and you already have an animal? Many places don’t allow pets, and it can be difficult to get a landlord to change their mind to accommodate the fact that you already have one. It is also often a logistical hurdle trying to move the animal itself, as they require more attention than your other belongings.

One thing that you can do is use a filter online to make sure that you are only looking at apartments that allow animals. This will help stop you from falling in love with a rental only to realize that they have a strict ban on pets. Your pet is more important than taking an apartment with a ban on pets over an apartment that can accomodate. If a listing doesn’t say whether or not you are allowed pets, you can always ask as well. Some landlords even have a listing that says no pets, but when asked they will allow it. The bottom line is, it never hurts to ask, and sometimes landlords don't realize the property is listed one way or the other.

Actually moving with the animal can be difficult as well. Many cats don’t do well in cars and dogs can easily get stressed out at sudden changes as well. You may speak to your vet and see if there is anything you can do to make the trip easier for the both of you. After all, you don’t want to have to deal with a four-hour car ride full of howling and meowing. Trust me, it gets exhausting very fast.

If you have an animal that needs a tank or other enclosure to move, you will also need to figure out how to keep their other. You might even be able to call and ask for advice, as most veterinary offices don’t mind giving some help to responsible pet owners. At the end of the day, you know your pet the best. Talley will help find you an apartment that will accept the package deal, you and your pet!

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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