Real Estate Blog - Property Management

Creating a Standout Property: The Best Upgrades to Attract the Best Tenants

Like every property owner, you want to offer a great looking rental that attracts prospective tenants and rents out with little effort. You may be wondering if you have to pay an arm and a leg to accomplish this. The truth of the matter is, you’re better off financially if you make select repairs and upgrades on a schedule. You don’t have to tackle everything at once, but you can check one or two things off your list at a time. You’ll also want to be selective about which renovations or repairs take precedence. Here’s how you can accomplish this:

One of the easiest ways to attract the right kind of renters is to ensure that your property presents well.  There are several focus points for properties. We’ll break these down into the exterior and…

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Austin’s Steady Growth Also Among the Fastest

I moved to Austin over 15 years ago, and I have never once regretted that decision. I’m certainly not alone in my love for the city, over the past ten years Austin has seen steady growth, but 2015 was a particularly special year.

According to the US Census Bureau, Austin is home to a few of the fastest growing counties in the country. Travis County, for instance, was ranked 105 out of 3,143 counties in 2015. As mentioned, Austin has been experiencing stable growth for the past ten years, but Travis County's population has increased by 13 percent in the past five alone. Even more excitingly, this type of growth isn’t exclusive to just Travis County. The entire city has continued to grow at a rapid pace and the demand for property has followed suit.…

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Property Management: A Point of Pride

We’ve all heard the saying, “a picture is worth a thousand words”. It’s the old cliché way to say that we can gather a lot of information by looking at something. I can’t think of anywhere this is more true than in the context of property management. I like to think of it this way; if a picture is worth a thousand words, a well-maintained property is worth several thousand dollars - really. It’s no secret that well-maintained properties are much more valuable, but here at Monte Davis Property Management, proper maintenance is also a point of pride. 

Those who know me well will say that I’m a very easy-going guy, but if there’s one thing that really bothers me it’s neglected property. It kills me to see a property with great potential left to…

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The Brits are Talking Texas

Countless times on this blog I've counseled real estate investors to stay on top of the "buzz" about their geographic area. I try not to preach anything I'm not practicing, so I do actively look for information on Texas (and Austin in particular) from sources that are "outside" the local or regional news box.

I was more than a little surprised, however, to come across Tom Geoghegan's article for the BBC, "10 Reasons Why So Many People Are Moving to Texas." Surprised, but thrilled, I might add. When trends like this are being discussed internationally that means business developers are watching. That's very, very good for what we do.

Geoghegan's article opens with a graph from the U.S. Census Bureau that illustrates that Texas boasted five of the 10…

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Increased Demand Drives Austin Housing Market Recovery

The climate at the fifth annual housing forecast event held by the Home Builders Association of Greater Austin and the Austin Board of Realtors was positive and forward-thinking. I liked what I heard on January 8, and I like what the numbers indicate for real estate investing in 2013. Here's what the experts have to say.

- Low interest rates are here to stay, likely through 2015. We may see a little bobble up or down, but there shouldn't be any major changes.

- Home prices are going up steadily, a fact which can in itself further fuel the recovery, because rising prices move some waffling buyers off the fence. Climbing prices motivate buyers by making them think, "I better move now, before I have to pay more."

Now, put these factors together and…

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Austin's Propulation Growth Equals Investor Opportunites

Obviously if you're going to be in the game of real estate investing, a strong tenant base is a primary concern. The latest news on population growth in Austin suggests that in that department, the bases aren't just covered, they're overflowing.

City Demographer Ryan Robinson reports that from April 1, 2010 to July 1, 2011 nearly 70,000 new residents moved here, making Austin one the fastest growing metropolitan regions in the nation. Forbes agrees, having just tapped Austin for the number one spot on its "America's Fastest-Growing Cities" list for the second year in a row.

People are moving here from all the other major urban centers in Texas, with even more coming from Florida, New York, Ohio, Michigan, Colorado, California, and Washington.…

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Getting Your Head Wrapped Around Multiple Offer Scenarios

If you have any doubts about the health of the real estate market in Austin take a look at the article, "Multiple Offers Make a Comeback" by Autumn Rhea Carpenter in the September/October issue of Austin Realtor. The piece includes the story of one realtor whose clients submitted an offer on a house only to be faced with stiff competition -- 12 offers on the same property in 24 hours! If you get in a situation like that on a property you really want, is how do you make yourself stand out?

The most important thing is to illustrate that you're serious about showing up for the closing. You're there to do business and you're interested in making that happen. First and foremost, make sure all realtors concerned are really communicating. Buyer's and seller's…

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July Market Numbers Indicate Economy Recovery

Each month, Realtor.com compiles listing information across 146 markets. The numbers provide a good blood pressure check of what's going on in the industry based purely on consumer behavior. As investors, we have to keep our eye on economic indicators relevant to our market. The July figures indicate several positive trends I want to highlight.

First, sales of existing homes are up. That's always a good sign. People buy when they have confidence in their financial position as it relates to the broader economy. Especially as we enter the presidential election season, the fact that buyers are willing to take on a mortgage -- and that they can qualify for that financing -- is an indicator of national economic recovery. (We also have to remember that…

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East Austin's Mueller Development - 11 Major Projects Break Ground

It probably won't surprise real estate investors to hear that Austin is the number four city in the nation for gentrification projects. Of these, the one I'm personally most excited about is the Mueller Development that has no less than 11 major projects in the works to completely transform the area, which is three miles from downtown and the Capitol and two miles from the University of Texas.

If there's any place that screams, "Location, location, location" more than that, I don't know what it would be! Let's look at what's going on down there:

●      A 112-room, four-story Residence Inn by Marriott will go up at the southwest corner of 51st Street and Lancaster. With one and two-bedroom suites and studios, the Inn will be built for those who need…

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What is My Property Worth?

This will come as no surprise to anyone that has been stuck on MoPac in the morning, but Austin was recently recognized as the Second Best Real Estate Investment Market in the country by Realtor.com - Just behind Tucson, Az., and seriously, who wants to live in the desert?  With plenty of open green areas, an influx of high tech jobs (Welcome New Apple Campus!) and no state income tax, it is easy to see why people are flocking to our fair city.  Additionally, Austin's potential for price growth is one of the best in the nation  - and the median list price of $229,500 is about 12 percent higher than just one year ago. 

With all this attention, many investors are taking this opportunity to cash out.  Unfortunately, I'm seeing a lot of sellers making the…

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