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Latest Blogs

Keep Up With Trends

Keep Up With Trends
One of the most difficult things to try and deal with is keeping up with all the new trends that come and go. Whether it pertains to clothing, furniture, or even social media, trends are constantly changing. While some of these changes may not directly impact you, if you own a rental property you should probably keep an eye on what is currently popular when it comes to housing. Even if the change is small and cosmetic, it may mean the difference between someone wanting to move in and passing over your property for another that is more up to date.
One of the most sought after things in housing that people are looking for right now is what is known as an open floor plan. While this isn’t something you can easily change your property to have, it may be worth looking into if you can modify certain aspects of your rental property to make your layout feel more open. Generally, an open floor plan denotes a mostly seamless transition from a living room to a dining room and a kitchen, or similar configuration. Some houses are almost entirely open and the floor plan only accounts for bathrooms and bedrooms to be sectioned off. Others are open with partitions that can be installed or brought out of the walls in the event that someone wants to seal off certain rooms. There are any number of things you can do to make your rental property stick out in someone's mind.
Even factors like colors can be a large part of someone's decision when it comes to renting your property out. Even though it is only cosmetic, some people will be hesitant to rent a place with features that were popular a few decades ago. If you can picture a 1960s style bathroom with the pink and blue tile, you may have an idea about why something would be off putting. Styles change all the time, but if your property hasn't changed with it you may want to think about doing some minor renovations.
Keeping up with new trends can be confusing, but thankfully there are resources everywhere. Between television shows, magazines, and even the internet, you can easily look at what is popular now. Check out some current pictures and see how they measure up against what you have. We are certain that Talley can find you a great tenant no matter what!

Energy Efficiency

Energy Efficiency
Owning a home is expensive. This is something that we hear all the time, and it is true. However, renting is also an extremely expensive endeavor. While renting normally means that you don’t have to pay taxes, this is sometimes the only thing that doesn’t need to be paid. While some people may get lucky that they only pay for electricity and any extra options such as internet or cable, others are required to pay for every utility including sewer and garbage disposal. This, of course, is on top of rent costs. So what can you do to help save some money when you are renting?
One of the best things to look into are the energy efficient options for different items in your home. Every little bit can help, even changing out your lightbulbs to more energy efficient options such as LED or CFL bulbs. Although these cost a little more up front, they last much longer and use less electricity over the years. Always check on the packaging to see what the estimated usage costs will be when deciding on what lightbulbs to buy.
Replacing some old appliances may be a worthwhile investment as well. If you are in a location that you have been for a long time or that you plan to stay in for years to come, you may want to talk with your landlord about updating some of the large appliances when they start to show signs of aging. Things like washers and dishwashers are especially important when trying to save some money. Even refrigerators can take a lot of money to run over the years, so compare newer ones and their estimated costs to run next time you are out and see what ones you might like the most. You might be surprised at how much more you are spending for electricity and water than you need to with newer machines.
The final option you can use for a lot of your devices are surge protectors and power strips. If there are some appliances or electric devices that you don’t always use, try plugging them into a strip that can turn off when you’re not in the room. It may seem simple, but the difference can mean a lot when you see that electric bill at the end of the month. Check for other small upgrades, they can save you a lot of money!

Moving Tips

Moving Tips
One of the most stressful parts of moving is having to get everything ready to transport. It's not surprising that forcing your entire life into boxes and the back of a truck is concerning and hectic for many people, especially since everyone has their own style of packing and can have very strong opinions about the best way to do it. While we can't help you move from one place to another, we can give you some moving tips so that when you do move into a Talley property, you can so do smoothly and hopefully combat some of that moving related stress.
A favorite tip of ours is to use suitcases. While this may seem obvious, we don't suggest putting clothes in them. Packing up your heavy items is one of the most difficult parts of moving. Things like books or even some knick-knacks can get heavy quickly, which is why suitcases are the best method for moving them from one location to another. Most modern suitcases have at least two sets of wheels and may have hard shells. They are also nice and easy to roll. They may even be cheap if you can find them at second hand stores and yard sales, which you can always donate back later if you don't want them cluttering your house. They are also generally sturdier than the traditional cardboard box.
Speaking of boxes, those things can get heavy! If you run out of suitcases, you may be temped to use large totes or big boxes to get as much in them as you can. While this isn't a bad idea for lighter things like bedding or pillows, it won't work on everything. Try putting together smaller boxes. You may have more of them than you had hoped for, but at least you'll be certain you can move all of them. There's never a good outcome to carrying heavy boxes up and down stairs when you have an alternative.
There are dozens of ways to get yourself ready to move, but these are two that we see people use time and again. We want your move to be as easy as finding your new apartment through Talley was, so we hope that these ideas help you out. Moving is already stressful, but if you look at some of these hacks, you can make it much easier on yourself. We can't wait for you to use these tips to move into a Talley property!

Some Move In Tips

Some Move In Tips
Moving is never fun. It is a stressful activity that often causes headaches for weeks. Once you have found a new place, you have only won half the battle. You now need to transfer your entire life over to your new home. While moving will never be simple, here are some tips that can help make moving in a little smoother.
1. Have Water! I cannot stress this enough. If you are moving furniture, you need to be staying hydrated. Especially if you are moving in the summer, some cold water can go a long way in keeping you moving and focused on your goal. Make sure you have a cooler out that you keep close by during the move so that it is the last thing to go into your vehicle and the first thing to come out when you get to your new place. Anyone helping you will be thankful as well!
2. Have A Plan. Every time I have moved, I have had a plan about what goes first and where it goes in the moving truck. Think of packing everything like a game of Tetris. You need to optimize your space, especially if you are moving far. Large furniture should always go in first, but there are ways to use more space than you think you have. Packing books into suitcases or rolling totes is much more effective than putting clothes in there, both for weight and space reasons. Use your clothes hamper as a container. Put tiny things in your cups from the kitchen. You may be amazed at how much room you can save by thinking things like these through.
3. Have Food. Moving burns a lot of energy. Having some granola bars or protein bars on hand for you and your friends is a great way to keep everyone moving until you are finally done for the day. It is also a good idea to have a plan for food to be delivered or have one person designated to pick something up for everyone once you are done. Something like pizza being ordered when the last load arrives ensures that people will get fed without having to sit for too long in a non-furnished place.
These are only three of hundreds of moving tips. While not everyone will like to move using the same techniques, these are pretty universal. Just remember to keep yourself healthy and ready for a long day of hard work!

Listing Photos

Listing Photos
One of the most important things in regards to your apartment listing is the pictures. Now that most listings are online, there is really no reason for you to not take at least a couple of pictures with your cell phone and upload them onto a website. Many people looking for a new place to live use these pictures to decide if they want to see the apartment in person or not. In fact, many websites even have an option so that people can filter their results to only show listings that have pictures. If you have a nice looking apartment, why would you not want to show it off to everyone?
Something that you need to be mindful about when taking pictures for your apartment is to make sure it actually reflects what the apartment looks like. When you post pictures of an apartment that are outdated or even from a completely different unit, you are technically using false advertising and not only is that not helpful in the end, but may also be considered illegal. Always be sure to only post pictures of the actual apartment that you are renting out, even if they are nearly identical.
Lighting is so incredibly important in photography. Even if you don’t know anything about taking a “good” picture, natural light can really only help. If the apartment does not have a large amount of natural light, be sure to take pictures with plenty of artificial light to help make up that difference. People want to see what the place looks like and that can’t happen if it is super dark. You can always use mirrors to help reflect light around an empty space to make it look brighter while taking photos and even while showing the apartment.
Another important thing to think about when you are taking pictures is whether or not they are clear. Blurry pictures are sometimes worse than no pictures at all because it can be taken as a disinterest on your part to take the time to have decent pictures taken. If your hands shake, you can always ask someone else to help you. There is nothing wrong with getting a little assistance.
Posting pictures will definitely help you when you are trying to rent out your apartment. If you aren’t sure that you can do it on your own, ask someone else. You’ll be amazed at how much of a difference it makes!

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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