Premier Property Management is proud to announce our sponsorship of The Brew Ha Ha Fundraiser.
The Brew Ha Ha Fundraiser is a fundraiser to benefit children with Autism and Developmental Disabilities.
The event is being held on August 20th from 6pm-10pm at Boston Beer Garden in Naples. For more information and ticket purchase, visit the Brew Ha Ha ticket registration.
Since March 2007, NABOR's inventory has been reduced by over 5,000 units. In April of 2007, NABOR started tracking the months of inventory. In the first month of tracking, April 2007, NABOR reported 34.78 months of inventory. Since the first month of tracking, the inventory has been reduced substantially over the years and demand has picked up. As a result, as of July 31, 2011, NABOR is reporting 8.83 months of inventory, which is the lowest since we started tracking months of inventory. According to Zillow, Naples is just about back to historic norms!
Read all of Linkage in Income, Home Prices Shifts: Survey Finds Some Homes Underpriced
Reprinted with permission of Michael Lissack lissack@lissack.com (239) 254-9648
It seems the media does not take the time to explain what Case-Shiller is and how it is to be understood.
Lets start at the beginning:
Further it looks at the median transaction number. Medians are the point where 50% of the data is higher and 50% is lower. The Case-Shiller Index correctly notes that the median transaction value has dropped.
The Index is NOT the FORECAST. The Forecast looks at the trends in the Index value and then adjusts for the ratio of median prices to median reported incomes. It then further adjusts for unemployment and demographics. Again the Forecast is not about anything other than medians. What the decline in the forecast median tells us is NOT that values will collapse but rather that builders will perceive a demand for homes in the $100k to $250k segment and will build those homes. The greater the number of such homes built and sold the lower the median price (since the median is where 50% of the sales are above and 50% are below).
This version of the Forecast is dead on target. Numerous builders (DR Horton, Lennar, Pulte, GL Homes, WCI) have announced projects in the $100k to $250k price range. The builders see what the forecasters see – increased demand at the low end.
The forecast says NOTHING about individual home values.
But that would not be a sexy media story.
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Key Features
The model identifies long-term influences on house prices, such as income trends and demographics, and cyclical factors such as unemployment and changes in mortgage rates.
Analysis and forecasts are based on a fully specified supply-and-demand model.
Forecasts for baseline and alternative econoconditions.mic scenarios. Forecasts house prices under stressed economic
In addition to the baseline forecast (the most likely economic scenario), Moody's Analytics forecasts the CSIs under alternative economic scenarios. Understanding the future path of house prices in relation to economic stresses such as oil price shocks, financial market distress, dollar devaluation, and others is critical to successful strategic planning and risk management.
The county house price forecasts are driven by county data on median household income, the unemployment rate, mortgage interest rates, population growth, and metro area or state house price trends. Moody's Analytics currently forecasts the aggregate index for 367 counties, updated monthly.
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Michael Lissack
2338 Immokalee Rd #292 Naples FL 341101445phone (239) 254-9648
Fax: (239) 254-9649
Cell: (239) 404-5079
www.lissack.com, www.mynaplesagent.com
www.isce.edu, www.emergence.org
Michael conducts his real estate activities through Michael R. Lissack PLLC if you desire no more future mailings please send an email to lissack@lissack.com make sure to include the email address you want excluded
For many property managers, the eviction process is a source of great frustration. Managers must be patient, as budget cuts have slowed down the court system and the sheriffs’ civil process divisions. In addition, the property manager may be dealing with a resident who is contesting the eviction, causing hearings to be scheduled by the judge. Meanwhile, the property manager’s account receivable balances grow. This eviction process becomes even more complicated when a resident near or in the eviction process files for bankruptcy. Therefore, it is crucial at this stage to immediately consult with an eviction attorney. Although this may be a stressful time, as the bankruptcy process will be uncharted territory for many property managers, if you follow the advice of your eviction attorney, in most cases the resident will still be successfully evicted. One key point to remember is that once the resident files for bankruptcy, the property manager is prohibited under federal law from undertaking any collection or possession activity without first obtaining permission from the Bankruptcy Court, or the property manager will risk substantial penalties and liability.
Read all of The Resident In Bankruptcy
A concession is a thing of value, usually in the form of a rent discount, given to a resident as an inducement to rent at the apartment community. Giving a rent concession is a common and effective marketing technique when trying to increase occupancy. The first month may be free, there may be a reduced security deposit, some product or service is given, or most commonly, the rent for the full or partial term may be reduced. A clear understanding of the concession is crucial to avoid problems later in the tenancy when the resident is in default, gets evicted or otherwise breaks the lease prior to the expiration of the term. A concession addendum should always be used rather than simply writing the terms on the special stipulation section of the lease, and this concession addendum must clearly spell out all the terms and condition of the concession. It should never be complicated, convoluted or ambiguous.
Read all of Concessions and the Property Manager
There are three ways a landlord obtains possession of a rental unit: surrender, abandonment or eviction. Abandonment and surrender are covered here. Once the landlord has obtained possession by any of the three methods, he may be required to deal with the resident’s remaining personal property, if the resident has left any behind.
Read all of Is The Unit Ours Yet?
June 1, 2011 marks the official beginning of hurricane season for 2011. Do you have your mold remediation, water extraction professional and roofer on speed dial? Business interruption insurance? Do your owners expect you to take precautionary steps that are not detailed in your management agreement, such as installing the storm shutters? Is your data being safely backed up each night offsite? Do you have a spare computer loaded, up to date and ready to go?
Read all of 2011 Hurricane Season - Are You Prepared?
Naples leading property management company is offering yet another ground breaking product, the Tenant Guarantee.
Read all of Naples Premier Property Management Introduces "Tenant Guarantee"
The leading Naples, FL property management company has introduced a ground breaking new product, the 100% Satisfaction Guarantee! This new offering is aimed at revolutionizing the local annual and seasonal property management industry.
So, you think your property management fee is only 10%? Think again! Here is a common, deceptive practice that your residential property management company doesn't want you to know about!
Read all of Naples Property Management - Are You Getting Robbed By Your Property Management Company?
