Fact From Fiction: What Does It Actually Take To Invest in Real Estate?

Fall Yard Maintenance: What Do I Do With All of These Leaves?

Fall Yard Maintenance: What Do I Do With All of These Leaves?

Autumn is here! The leaves on the trees present a gorgeous display, and they often add a lot of curb appeal to your rental properties. But once they’ve fallen from their branches, they can be quite a pain. A large part of landscape maintenance in the fall revolves around keeping your lawn clear of fallen leaves, especially if your property is heavily wooded.

But it seems a waste to just bag the leaves and get rid of them. What if there was something you could do with them? Good news: there is! Leaves are actually a fairly valuable resource. Read on for some tips on keeping your yard pristine while taking full advantage of the benefits that autumn has to offer.

Turn Leaves Into Mulch. Leaves make a great mulch alternative, and they’re free to use. Simply rake them into your garden beds and break up any of the larger leaves for a more even coverage. If you don’t like the look of dry brown leaves in your flower beds, you can always cover them with a thin layer of traditional mulch.
Collect for Compost. Leaves hold a lot of the tree’s nutrients, and breaking them down into organic matter can be great for your garden. Use a mulcher or a lawn mower to shred the leaves into little pieces. This will allow them to decompose faster. Then, add them to your compost pile and let them sit.
Shelter Insects. Rake or blow leaves into small piles bordering the edge of your property to create a safe space for insects. Many bugs are important to a healthy and balanced ecosystem, including worms, snails, moths, bees, ladybugs, and spiders. These all thrive in the shelter of fallen leaves.
Mow Over the Lawn. Why give all the nutrient-rich goodness to the garden when your lawn needs some love too? Distribute a thin, even layer of leaves across your yard. Then, use your lawn mower to run them over and grind the tiny pieces into the grass. Your lawn will thank you for the nutrient boost.
Bag for Others. If you have an excess of leaves, you may be feeling a little overwhelmed. What more can you possibly do with them? If you can’t use it, surely somebody else can. Share your wealth by bagging any extra leaves and offering them to friends and neighbors in the area.

For more tips on landscaping and property care, follow the Talley Properties blog. Contact us today for more info on Charlotte’s best property manager!

Lawn Care Advice for Rental Property Owners

Lawn Care Advice for Rental Property Owners

As a landlord, you have plenty of responsibilities. From keeping up with rent collection to ensuring that maintenance and repairs are completed, your to-do list might feel like it never ends. With so many tasks vying for your attention, landscaping might be one of the furthest things from your mind. The reality is that it’s just as important as any other regular upkeep. In fact, it can boost your curb appeal, making your property more attractive to potential tenants.

Not sure where to start? No problem. Talley Properties is here with a few tips and tricks for rental property owners.

Share the Responsibility

When a tenant moves in, they’ll be subject to a lease agreement. This agreement is a contract that lays out the expectations and responsibilities of both parties. Lawn and landscape care should be among the items outlined in the document. As a landlord, you’ll need to keep the property looking nice while it’s sitting vacant. But it’s up to you to choose whether to delegate that process when someone moves in.

Go Beyond Grass

An enormous grassy lawn can be very visually appealing, but it requires quite a bit of upkeep. You can get the same visual impact and make your property more practical by adding gardens, flower beds, and even hardscaping. Consider stone paths and patios that your tenants can actually use. Not only will this create a marketable outdoor living space, but it will reduce the sheer volume of grass that you and the tenants have to care for.

Install Irrigation

Automatic irrigation systems are a landlord’s best friend. No more setting out sprinklers on those hot, sunny days. No more watching the weather forecast and waiting for the rain to come. An irrigation system is a great selling point, and it keeps your lawn looking great without the extra hassle.

Invest in a Professional Landscaper

If you find yourself unable to dedicate the time to mowing, weeding, watering, and fertilizing your rental property, don’t let it slip through the cracks. Instead, consider letting the professionals handle it. A landscaping company will take good care of your lawn and gardens with their expert tools and knowledge.

Talley Properties: Property Management

Property management agencies work with the landlord to delegate and automate certain routine tasks, including maintenance, accounting, and rent collection. Are you feeling a little overwhelmed by the responsibilities of owning a rental property? Take a look at some of the valuable services that Talley Properties offers its clients, and contact us today to learn how you can get started with us!

How To Calculate What You Can Afford for Rent

How To Calculate What You Can Afford for Rent

Calculating how much you can afford to spend on a rental property per month is a crucial first step in the house-hunting process. Living beyond your means is obviously not recommended, but you also want to use your money effectively to be able to afford a comfortable space for yourself. This is where the calculations come in.

But how do you do that? What all do you need to consider when searching for an ideal price range that won’t break the bank? Stretching your income as far as it will go is a necessary skill, and having every dollar allocated to a certain category will make the process go much smoother. We’ll go a little deeper on this topic down below.

You’ll first need to create a budget that reflects your monthly spending habits. If you haven’t already done this, or the idea of a budget gives you a surge of panic, then don’t worry. This is something you can do any time, and it’s as simple as making a list of your monthly expenses. What do you currently spend on necessities such as groceries, utilities, transportation, and housing? How much do you spend on luxuries, such as streaming services or dinner out with friends? Sorting your budget by order of importance will make it easier to determine what you can and cannot afford down the line.

Compare your spending to your monthly income. All things considered, your total spending should total less than your income, with some left over for savings. Whether you already pay a monthly rent or you’re making room in your budget to pay for a place of your own, some things may have to go as you reorganize and reprioritize. Consider the well-known 50/30/20 rule. In this model, 50% of your income goes to necessities, while the remaining 30% and 20% go to luxuries and savings, respectively.

Let’s say that your monthly income is $5,000. That gives you $2,500 per month to spend on all your needs, including housing. Although not an exact science, it’s generally recommended that you spend roughly 30% of your income on rent. That’s $1,500 per month, leaving you with $1,000 for groceries, gas, clothing, and other necessities. Of course, you might be willing to forego a portion of your luxury budget for a larger home or more convenient location. Budgets are entirely adjustable. Take the 50/30/20 model, apply it to your income, and tweak as necessary to fit your needs and your lifestyle!

Looking for rental properties? Talley Properties has an ever-changing selection of listings available for potential tenants. Visit our website today to see what we have to offer!

Early Winter Maintenance Tips for Your Rental Property

Early Winter Maintenance Tips for Your Rental Property

It may seem like fall has only just begun, but we’re creeping ever closer to the end of another year. The official start of winter is now several weeks away, and it’s time to start thinking about preparations for your rental property. Trust us when we say that your future self will thank you for getting a head start on the maintenance projects and winterization.

North Carolina is known for its relatively mild winters, but you shouldn’t just cross your fingers and hope for the best. Leave nothing up to chance, and put in the effort to make sure everything is ready for the season ahead. Read on for some essential tips as you prepare your property for winter.

Trim Bushes & Trees

Bare branches can become brittle as the seasons progress. For the safety of you and your tenants, keep bushes and trees cut back to prevent any unfortunate accidents. The last thing you want is a tree limb breaking off and falling on your rental home or injuring a tenant.

Insulate Pipes

The plumbing carries water throughout your house, even when not in use. In cold temperatures, this standing water can freeze and expand, causing the pipes to burst. By insulating the pipes against the cold, you’re saving yourself from potential water damage and emergency maintenance.

Set Your Ceiling Fans Clockwise

Ceiling fans in the winter? It’s not as crazy as it sounds. Warm air rises, leaving only cold air at ground level. By reversing the rotation of your fan, you’re creating an updraft that forces the warm air back down. This is an effective way to maintain a steady temperature and save on the energy bill.

Get an HVAC Checkup

If there’s one thing tenants will want during the winter months, it’s a working heater. The HVAC system is critical when preparing for the season ahead. But don’t try to do it yourself. Have a professional come out, test the system, and optimize performance so that it’s running in tip-top condition for your tenants.

Fix Cracks & Gaps

Little gaps in windows, underneath doors, and around the foundation of the house could be costing you a significant sum in lost heat. Patch up the cracks, fill in the gaps, and make the house more energy efficient, which will save you money in the long run.

Talley Properties: Charlotte’s Best

Managing a rental property is difficult, especially if you’re trying to juggle more than one in your portfolio. Let us help you! With over 40 years of experience, you can trust Talley Properties to get the job done right. Visit our website or contact us today to learn more!

Moving to Charlotte? Here’s Where To Start

Moving to Charlotte? Here’s Where To Start

So you’ve decided to make the transition and move to Charlotte, North Carolina. Congratulations! Moving is a big step, and we’re quite certain that you won’t be disappointed by all that Charlotte has to offer.

But the Queen City can be an intimidating place. The real estate market moves fast, especially in a city like Charlotte that’s currently growing at a rate of 0.34% annually. If you’re looking for a bit of professional advice before the big move, then you’ve come to the right place. There are some things you should know ahead of time that will make your relocation as smooth as possible.

First, Charlotte has been described as several smaller cities in one. Each district has its own distinct culture with its own community. From the fast-paced heart of the city to the suburbs nestled on and around the outer belt, you can find a neighborhood that matches your personal tastes. Uptown offers a true urban experience in the city’s business district, and apartments available for rent are often within walking distance of social and professional opportunities. NoDa is the city’s trendy art and food district, catering to people who enjoy a cultural experience. Suburbs like Concord and Huntersville provide a slower pace of living that is still only a short drive from the downtown area.

Second, it’s important that you pick a location that aligns with your lifestyle. Do you have a job, and will you need to commute? Do you have kids that will need to go to school? Which school district should you choose? How far away are the essentials like grocery stores and doctor’s offices? These are all things to consider and research as you select the ideal location for your Charlotte home.

Finally, carefully consider your budget. Real estate in Charlotte is in high demand, which drives prices higher than normal. It’s recommended that you make a list of your needs and wants when it comes to a rental space. You may have to sacrifice some of your wants if it means finding the ideal property and staying within your predetermined budget.

Fortunately, here at Talley Properties, we always have a number of fine listings available for rent. Visit our website to learn more and browse our featured properties. Filter by price or search by keyword to tailor the results to your needs. We hope you find the perfect space for your move. And let us be the first to say, welcome to Charlotte!

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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