These charts from the Wall Street Journal would seem to show that real estate is slowly making a comeback. While we are not even close to what we saw in the boom years of 2007-2008, things appear to be looking up. If you are thinking of buying, you might want to do so now.
Archives for February 2015
Why Landlords Should Inspect Their Properties
This is why landlords should inspect their properties. You cannot completely trust the screening process. Some people can look perfectly normal on the outside and in public, but their home life is a complete mess as the linked article demonstrates.
Just because you never hear anything from a particular tenant does not mean that all is perfectly well. Most times it is, but it is best to verify. Do you think the tenant in the story above would have ever called their landlord? It is highly doubtful. They are too embarrassed by their home life to let you in and will likely just vanish one night when no one is watching.
So don’t let this happen to you. Put a clause in your lease like the following that allows you to periodically inspect your property.
Tenant shall be entitled to quiet enjoyment of the use of the property so long as Tenant is not in default of the terms of the Lease. However, upon one day’s notice to Tenant, Manager shall be entitled to access to the Property for the purpose of inspection, repairs or marketing the Property.
Remember, your properties are a huge asset to you, don’t let someone trash them.
Have Home Prices Rebounded In Your Area?
Have home prices rebounded in your area? Check out these maps and graphics from the New York Federal Reserve.
I can say that here in Memphis, TN prices seem to have ticked up a bit, especially in the parts of town I deal in. It also seems to me that there are fewer deals out there and more people chasing them. Are the boom times coming back?
How are things in your part of the country? Are prices up? Deals harder to come by? Please share with your comments.