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Latest Blogs

Summer Safety Part 2

Summer Safety Part 2
We mentioned in a previous article that the summer is one of the most common times for people to experience break-ins at their homes. This is generally because criminals know that people travel on vacation around this time of the year. This basically leaves your home as an open invitation to these people if you do not take the proper precautions. Here are a couple of easy and cheap things you can do to make sure that you are not the target of a home invasion.
1. Let Your Neighbors Know. If you live close enough to someone where they can keep an eye on your house or apartment from theirs, let them know that you are heading out for a couple of days. This way, they will know that no one should be coming into or out of your front door. If they do see any suspicious activity or people, they can alert the police and hopefully minimize any damage that may be done.
2. Get A House Sitter. If asking your neighbors to keep an eye out isn’t an option, you may want to consider getting a house sitter. I did this a lot when I was a teenager for friends who were going away. This meant that the house was not empty and any pets could stay in the home which greatly cut down on any price the family would have to pay. Just make sure that the person is responsible and hide any alcohol or firearms if they are underage.
3. Have A Light Timer. One of the easiest tips that a house is vacant is a lack of lights on. You can purchase a timer from almost any store and plug it in so that it turns your lights on and off at certain times every day. If you want to get fancy with it, you can even get one that works through WiFi which you can control from anywhere in the world.
These are three of the easiest ways to help prevent your home from being burgled. While nothing is foolproof or certain, these are some good places to start. Always remember to keep an eye out for those around you, especially if you live in an apartment building or complex. If someone else’s safety is compromised, yours might be as well.

Keeping Property Secure

Keeping Property Secure
Now that the weather is warming up, many of us are thinking and planning our vacations. Going to the beach, visiting family, or even just taking a couple of days away is something that we all look forward to after the winter each year. Hopefully you are in a position to take a nice, well deserved trip and are currently making plans or looking forward to something that has already been decided upon. Unfortunately, there is another thing that many of us need to think about over the summer. Thieves.
Late spring and summer is the time that most burglaries occur. This is because criminals know that you are looking forward to leaving and may even be watching your home to see when you are gone. It often happens that burglars will even break into an area while you are at work, as rarely they will choose a location at random. While not every break in is preventable, there are some things that you can do to help combat any criminal activity that may occur at your home.
One of the best things that you can do is let your neighbors know that you are leaving for a couple of days. This way they can keep an eye on your home while you are away and report any unusual activity to either you or the police. If someone notices that there is movement in your house and they know you are away, then they know the chances are that it isn’t you. This means that they may be able to thwart a burglary and it may actually protect your belongings. Even if all they do is bring in your mail, it can help to keep a target off of your home from the prying eyes of criminals.
Over the next couple of weeks, we will be explaining a few ways that you can protect your property from people that have negative ideas. These articles will help you get ideas about how you can keep your possessions and home safe, even during this time of the year. It may also be a good idea to pass these along to your tenants, as you want to keep them and your rental properties safe as well.

Spring Upkeep

Spring Upkeep
Now that spring is officially here, there are a couple of things that you may want to start doing if you own a rental property. With the weather warming up and people venturing outdoors again after such a long and chilly winter, there are many different things to change or update to increase curb appeal. While there may be lists that are pages long of things like this for you to work on, here are a couple to give some thought to on those really nice days when you want to be outside.
Power Washing. After the winter with all of the salt and dirty snow, your rental property may need a good power wash. Many places will rent out a power washer for a day and they are relatively cheap to operate as well as rent. Obviously it is better if you have a friend who owns one, and the beauty of social media is that you can easily ask around. Check classified ads if you are interested in buying one, you never know what will pop up!
Planting. Getting your hands down into the dirt in the beginning of the spring can be a great feeling and extremely rewarding. You may want to plant a couple of flowers around the lawns or maybe a tree or two for shade. You may even want to create a memorial garden of some kind, either one that is for someone specific or one that others can use if you own an apartment complex. Perhaps you have been thinking about starting a communal vegetable garden. Ask around with your residents and see if there is any interest in keeping a couple of plants and herbs alive for the community to use.
Paving. This is always a big one after a rough winter if you have an apartment complex with a parking lot. Plows and snow wreak havoc on asphalt, and so you may be thinking about patching some of those pot holes left behind. While it is certainly expensive, it will be more than worth it in the long run for you and your residents as well as any guests they may have over.
These are only three things that you may want to consider doing now that the weather is warming up. Stay tuned for a couple more ideas if you want to keep improving your rental property.

Keeping Up With Trends

Keeping Up With Trends
With the advent of channels like HGTV, more and more people are beginning to think that they are home decorators and restorers. We see constantly that people are getting more steadfast in their ideas of what a good home is based upon television shows instead of looking around in person. While it isn’t always a bad thing to know what you want before you make an investment, this can give some property owners a bit of trouble if someone is determined to rent a place that looks like it’s off of Fixer Upper complete with farmhouse sink.
Trends in homes come and go just like with anything else. Unlike with wardrobe changes, however, these aren’t as easy to bend to. They are also no where near as cheap. Right now, most people are looking for open floor plans as a base. While this is fine for people who are renting out newer homes, it becomes increasingly more difficult the older your property is. My parent’s house was built in 1964 and I cannot imagine a way that an open floor plan would be possible. A good friend has a house that dates back to 1887 and while you could create an open floor plan there, it would take so much work and destroy much of the charm that comes with older homes.
So how do you balance between the actual structure of your rental property and modern trends that will likely change in a decade of so? Well, that’s fully up to you. Each property is different so only you can tell if it needs that drastic an upgrade or not. Sometimes something as simple as pulling down old wallpaper or updating a bathroom can give the area a fresh feel without having to spend thousands of dollars knocking out walls only to find that you can’t do what you wanted because one of them is a supporting wall.
Making sure that you keep your rental home updated is very different than keeping up with every trend in home design. While you can do that if you have the time and money, it is normally best to go with a general feel and freshen things up every now and then. You may be amazed at what some fresh paint and tiles can do to a place, so give that a try before jumping to gutting your entire property.

Renting Out With Talley

Renting Out With Talley
It is impossible to argue the fact that without a tenant, a landlord is simply a person with an empty house. There is nothing to be gained by having more than one property, meaning to rent it out, and not doing so. In fact, it is generally referred to, in very scientific terms, as a money pit. The fact is that when it comes to renting out some property, you need one thing above all else and that is a tenant. Just knowing that you need one, however, isn’t quite enough. You need to be able to get one as well. That’s where we come in!
Here at Talley, we understand how important it is to have a short turnover time in between tenants. Every month that you don’t have someone in there is another month where you are losing money. Even if your mortgage is paid off, you still have to pay for the utilities to remain on, anything used during showings, and most of all the property taxes. Depending on the property, these can be extremely expensive and it certainly doesn’t hurt to have some help when you are trying to set aside some money for them each month.
Unfortunately, renting out property has never been an exact science. While we know what to do, the time period in which everything occurs can vary from year to year and even from place to place. No two homes rent the same way or in the same time frame, even if they are in the same neighborhood or building. Sometimes it can be clear why, but most often there is no accounting for how the cards fall for different listings. This is why we ensure that each and every client will receive the same amount of dedicated care, no matter how long it takes to rent out your property.
While it may seem like a short process, our goal at Talley is to provide long-term care and build lasting relationships with our clients and renters alike. We understand that there is no reason at all to prefer certain listings or people over others when it comes to renting and have held this belief close since 1980 when Talley started. Give us a call today to list your rental property and know that you are in some of the best hands in all of the Charlotte area!

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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