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2.9% Contraction, Worries Economist of Double Dip Recession

Per the US Commerce Department on Wednesday 6/25/2014, the US economy contracted at 2.9%, which was much greater than predicted. To put this in perspective, our economy hasn’t contracted this much since 1^st quarter in 2009, when our economy had shrunk a little more than 4.5%.

In light of this news, economist are scrambling to place blame and figure out what happened. Some of the proposed culprits are….

1. Unusually cold winter. Some economist are blaming cold weather in winter however, other economist are saying that even with cold weather in winter, a contraction of 2.9% is just too large to blame on just cold weather.
2. A down revision of consumer spending. Consumer spending is the single largest impact on our GDP. In fact, this metric accounts for nearly two thirds of our economy. It was originally reported that during this time, consumers spending was up 3.1% however, it was later revised down to only 1%. Economist are pointing to the decrease in consumer spending is a major drag on the economy. Furthermore, they are pointing to the lack of consumer spending being a bigger issue about consumer confidence….or at least the lack thereof.

So, what does this mean to Nashville real estate and your home value?

Home values have proven over time, they are a safe long term investment. They provide owners a way to build true wealth through forced savings and tax subsidies so, for those people who intend to stay in their home at least 5 years the immediate ups and downs of your homes value shouldn’t be a major economic concern for you and your family. Hold tight and you will weather the storm.

For those who will be looking to sell their home in the next 6 – 24 months, your home value is going to greatly depend on the stability of your neighborhood and the attractiveness of its amenities to potential buyers. Now, more than ever, it’s not just a homes upgrades and features that are going to protect your homes value. More often in turbulent economic times, home values are protected by neighborhood and community amenities like, ease of livability, ease of access to employment and ease of access to entertainment.

In recessions, the homes at the greatest risk to see a reduction in value are those homes located in neighborhoods where commuter times are lengthy, access to shopping means traffic and congestion and few to no entertainment venues are immediate available. Home with deferred maintenance or suffering from neglect will see the biggest fall in value. Neighborhoods with low pride of ownership will see the second biggest loss in value and finally, communities with high mortgage default rates or have very little access to viable employment opportunities will be third in line to see the biggest loss in value.

Homes that will stabilize and maintain value or possibly even increase in value will be those homes that are located in high desirable neighborhoods. If we had learned one thing in 2007 / 2008 Great Recession was, highly desirable neighborhoods can hold their value….and some can thrive.  They are far and few between and definitely don’t necessarily mean just because you live in a nice neighborhood that your neighborhood is highly desired so understand, each neighborhood is different.

To learn your homes value and receive a free email report pulled directly from the local real estate boards sales sheets, visit www.MyNashvilleHomeValues.com

Deductions from Tenancy Deposits

Remember, landlord should not make any deductions from your tenancy deposit just because of a sort personal problem between landlord and tenant. Landlords can only claim or can deduct if they have financial loss that they have actually suffered.

Reasonable deductions from a tenancy deposit:

The tenancy deposit is money that belongs to tenant and should be returned back unless your landlord can show they have suffered a financial loss during the period of time of tenancy.

Reasonable reasons to deduct the deposit fee:

• Any damage to the property (as much as is needed to repair or replace)

• Missing items

• Cleaning - the landlord hires a cleaning company and spent money. (Landlord should keep records and receipts for any cleaning that pay for, as evidence that they can claim or deduct from the deposit.)

• Unpaid rent (If tenant still owe it’s the right of the landlord to deduct the payment from the deposit and if tenant owe more than the value of your deposit your landlord can take tenant to court to get the rest of the money. )

 Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.

 How to Handle Dirty Tenants

Dirty tenants can be landlord’s problems. And due to unclean living conditions, it can cause growth of pest, like bugs and rodents and can cause health hazards and worst it can bring down the property value. Ultimately it make very difficult to re-rent.

If your property already smells like a trash, then as a landlord have to take action immediately. Mandate your tenant in a polite way to clean up.  But if not, kick them out at the end of their lease.  If you are keeping reminding them and still they fail at lease termination, now you can hire a cleaning company and deduct it from their deposit – IF your lease allows it.

Signs of “Dirty Tenants”

• Bad odor or potent smell coming from the property
• Molds growing up the bathroom wall, kitchen sink and kitchen counter
• Pet feces not clean up
• Garbage in the house
• Signs of rodents or
• Unsafe chemicals lying around the property
• Rotten food, dirty dishes or clothes that are lying around and never cleaned
• Dirty appliances
• Junk piled up everywhere
• Or tenants by themselves are dirty (bad odor, dirty clothes, etc.)

Otherwise, landlords cannot dictate tenant on their cleaning behavior unless if they are violating health or fire codes, or causing damage to themselves, the property, or other people.

In this case, it is important for you as a landlord to show them exactly what you want cleaned and to what extent.  Sometimes the issue is just that they don’t know how to keep a clean house. So, show them which cleaning materials and chemicals work best for the various parts of the house. When teaching them, try to have a heart of a teacher.  Don’t easily judge them, maybe they need time for some lesson. 

Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.

How To Keep Your Rental Unit

Always remember, it is important to avoid conflicts with your landlord.  As a tenant follows what is written in the lease agreement and do what is tenants right, as well as landlord will do what is his right.

• Be sure that you pay your rent on time. The landlord / property manager can start to charge for late payment. Or if tenant failed to pay the rent, the landlord can issue an eviction notice for non-payment

• If you have problems, concerns regard the unit condition, document them and send written requests to the landlord asking them to deal with the problem.

• Keep your unit clean and do not do damage even if you have children or pets still do not allow them to do damage to the unit. If something does get damaged, repair it as quickly as possible. If you cause damage and you will not have those references and some landlords take action in small claims court to recover the cost of repairs.  Remember, even if you plan to move another rental management, it is important to have good references from previous landlords.

• If you have parties and there are damages or noise complaints from neighbours you are responsible for the actions and that of your guests and it may grounds for eviction. 

Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.

Rock Realty Client Testimonials

"Michael Collins did the impossible he SOLD my house! When I put my house for sale everything that could go wrong did but Michael never gave up and did everything he could to sell my house. I recommend Michael Collins if your looking for a real estate agent! He is hard working and trustworthy!"

Michelle M. (Madison, WI 53704)
Rock Realty Seller Client

Thanks for the compliments, and Congratulations to Michelle on the short sale of your home! Congrats to Michael Collins on another successful closing!

Are you considering purchasing property in the Madison Wisconsin area? Click below to start your home search!

Madison, WI Real Estate

 For Dog Owners: How to Prevent Injuries to Your Family and Neighbors

Don't think that because your dog is gentle, old, or small, it can't cause an injury. Any dog can hurt someone. Even the owner can hurt from their own pet. And majority of dog bites victim is the family or friends. Normally docile dogs will bite when they are frightened or when they are protecting their puppies, owners, or sometimes food.

The best way to avoid liability is to prevent your dog from causing injury or damage. And if your dog bites someone, keep your liability as low as it fairly should be.

How to Prevent Dog Bites

• Train and expose to lot of people and take in the situations at a young age. You may ask help or tips from your local animal control.

• Never let a dog run at large. Mostly owner automatically liable for any injury your dog causes while at large.

• Watch your dog especially when children are present. Mostly reported dog bites are to children. Never leave your dog alone with a toddler or infant and make sure the gate to your yard is child-proof.

• Make sure the vaccinations of your pet or dog is current.

• Keep the dog away or out of strangers' paths. A fenced front yard isn't good enough; most people will open a gate and walk on up to the door.

• Post warning signs like "Beware of Dog" or "Dog in Yard" signs prominently. Avoid joke signs “Trespassers Will Be Eaten" they will not the warning seriously.

Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.

 Tips How To Make Sure Getting My Rental Deposit Back When I Move Out

• Usually, landlord will ask for a deposit fee together with the first month payment; so make to sure ask for a receipt when the deposit is delivered. The receipt should state and spell our correctly it is for a rental deposit and completely detailed together with correct amount.

• Put a note of any damages already there when you move in. It's best if the landlord and tenant sign the list of damages, and make a copy of each and keep it. This list should is very important when you first move in, or before. Put the place back in shape when you move out. Remove your trash and leave the house or unit in the same condition it was in when you moved in.

• Inform the landlord about damages (it should be in writing if possible for documentation) which occur while you're renting the unit and the cause of the damages should be explained.

Usually, tenant is responsible only if the tenant is somehow at fault. When you want to move out, give the proper notice to your landlord.

• If you are already move out and you want your deposit sent you back, give the address or mailing address to the landlord in writing, and keep a copy of the paper you give the landlord, for your own records. Remember, if no mailing address is given to the landlord within one year, then the tenant loses the right to get any of the deposit back.

• Set appointment with the landlord at the time you move out. Ask your landlord whether you are going to be charged for any damages, cleaning, or whatever. Then you can able to fix whatever problem there is while you're still in a good position to do so. But if the landlord can state no need for repairs or cleaning to do so, then try to get the deposit back at this meeting.

• For no more explanations at all. Take pictures of the home before you leave. Same as you took picture the day you move in.

 Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.

There are Laws for smoking or non-smoking in public places but if the smoke air get into your private area like home, condo unit or apartment from your neighbor's cigarette and bothered you; you may find a way to take immediate action.

Find out if the rental agreement contains a no-smoking clause. If it does, then the smoker tenant is violating the lease agreement and you may be able to convince the landlord to take an action and tell the smoker to stop smoking in the area or move out. But if the smoker refuses to honor the clause, it's the landlord decision to take the next step may be to evict the smoker. Especially, mostly of the neighbors are complaining the cigarette smoke, so the landlord may be more motivated to take action against the smoker. Even if the lease agreement does not state prohibit smoking, still the landlord may have rights to evict the smoking tenant if the cigarette smoke is truly troublesome and interferes other tenant to enjoy their living. Typically in rental agreement, always spell out that all tenants have the right to live quietly and not disturbing other tenant or their neighbors.  

But if the building or condominium unit has the conditions and restrictions in prohibiting smoking, then the homeowners' association may take legal action against the smoker.

Also, even if the smoker tenant doesn't live under a no-smoking restriction, still you may sue the smoker to the court for creating a private nuisance or interfere to use and enjoy your property.

Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.

I'm looking at expanding my clientele and this seems to be a conference that has many of the big players there:

» PNC Bank
» Fannie Mae
» Freddie Mac
» Select Portfolio Services
» Own America
» BLB Resources
» Cityside Asset Management
» SunTrust
» Green River Capital
» iServe
» NRT-REO

» Lender Processing Services
» Matt Martin Real Estate Management
» PEMCO
» Phoenix Asset Management
» Wingspan Portfolio Advisors
» Residential Mortgage Solutions
» ServiceLink Asset Management
» Vericrest Financial
» VRM
» Wells Fargo - Premiere Asset Services

I'm interested in any feedback on:

a) joining the Force:  $99/mo plus gets your membership plus puts you on ServiceLink's agent network.  I worked with SL before and only had 1-2 deals a month.  Regular membership is like $50/mo more but SL is paying the extra amount, which makes me wonder if they aren't somehow tied together.

b) 5 Star Force conference. has anyone attended before or going this year?

In addition to the $99/mo membership, the conference is $595 to attend as a member, something like $900 if you're not.

I'd love to hear any feedback!  Thanks KK

tenant%20is%20smoking.jpg

Tenant Smoking Issues

Smoking in apartments unit is a problem. Many damages or accidents may happen if the tenant continues to smoke. Smokers ruin paint; stink up the halls and usually it can cause fires. It we have a choice between a smoker and a non smoker we’ll go with the non-smoker. The worst is, if the tenant smokes pot and will end to the reek of marijuana.

A smoker has the right to smoke in their apartment, as long as the lease is good for smoker tenant and they can’t make harm to the other tenant or not make nuisance to the neighbors. But of course Non smokers have also the right to not smoke in their place. Every resident should have the right to not be invaded by smoke or bad odors.

The law is every smoker has the right to smoke and have the right to not smoke. The government or the rental management is not going to start evicting people because they smoke as long as the rental lease signed by tenant state that the unit is not good for smoker and non-smoker but if the lease spells out that the unit is available only for non-smokers then smoker tenant bend the truth from the start then he is liable for the clues.

Remember, landlord will not take smoker tenant to eviction period as long as they are following rules prior to the lease agreement and cannot cause harm to the neighbors and to the rental unit. 

Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.

Looking for a Rent-to-Own, Lease-Option or Land Contract in Wisconsin? We may have the perfect option for you! It's called the Alternative Mortgage Program. Please read the details below and visit the link for further information.

As you can see, this is much different than any other Wisconsin Rent to Own (RTO) or Land Contract program out there that we have seen. This could be the perfect conduit for you to get the home you want now, and be able to then purchase the house down the road when you can qualify for a traditional mortgage. If you are interested in hearing more about the program from the lender, please visit the link below and submit your contact information via the short form.

Blog.RockRealtyWI.com/Rent-To-Own

Feel free to also visit our Rock Realty Wisconsin home listings websites below to help with your home search! You can search through all available MLS listings in your area.

Janesville Area Homes for Sale
(http://www.JanesvilleRealtor.com)

Madison Area Homes for Sale
(http://www.MadisonWIForSale.com)

Ways to Prevent Tenants from Smoking in the Rental Property

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As a Landlord, it’s difficult to convince a smoker tenant from not smoking inside the rental property; so the best solution is to talk and tackle the problem may arise in the future if tenant continue to smoke in renting time period.

For best solution find a tenant that doesn’t smoke, but now a days it’s so tricky.

• To minimize questions and queries about smoking, make sure all your ads clearly state and spell out that you’re looking for NON-SMOKING tenants only.

• During the viewing or appointment, ask the tenants if they smoke, and remind them that the property and the management are looking for NON-SMOKING tenants only.

• Mostly in the interviews, smoker tenants bend the truth from smoker to none. If this will happen, look for signs for smoking habits during the meet-ups. The smell of cigarette smoke can figure out if the person is smoking or not.

• If you prove that tenant is a smoker, you may refuse their applications or it is worth to tackle all the clauses with the tenant before they sign the lease agreement, so they’re reminded of the clause. 

Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423

Per the Consumer Financial Protection Bureau’s own Newsroom May 28, 2014 the CFPB Takes Action Against Realty South for Mortgage Disclosure Violation and orders the firm to pay $500,000.00

Back in 2006, about a year after I got into real estate, I noticed several local Brokerages working very closely with affiliated companies like Title companies or Mortgage Lenders. Fresh out of real estate school, these business affiliations were always a point of contention with me because, it felt like a fine line RESPA violation. Granted, the company I worked for at the time had it’s own business affiliations, namely a  specific Title company that was attached to almost all of their brokerage office but, we had a single page disclosure to consumers that made it clear, they didn’t have to use any affiliated business service provider and had the right to use whoever they wanted for any required service. In essence, I felt safe about using affiliated business service providers because, we made it clear, it was nothing more than a suggestion and not a requirement.

With all that being said, I do remember some brokerages (not the one I worked for) where consumers weren’t given the choice, option or disclosure that they didn’t have to use the brokerages preferred Lender or Title company. I remember walking into brokerages where big signs at the door greeting me with advertisements like, “ABC Bank Offers the Best Rates for Realty USA Clients”. Or course, I changed the names to protect their identities but, these types of ad’s were common place in some brokerages around here.

Well, back then, I don’t guess many people thought twice about the RESPA violation or potential violation because, whoever heard of any being fined or charged with a crime? Sure, we heard stories but, they were always in some far off state about some no name broker so, who really worried about that happening here?

Well, in light of recent news from the CFPB, people better start wising up quick. The CFPB is here and they are looking to make a name for themselves off the convictions and fines for violators. To be crystal clear, this is a good thing, my industry needs some serious enforcement. Truth is, the serious lack of enforcement over the years has created a industry where honest mistakes, systemic errors, gross incompetence, and in some cases, nefarious intentions are routine with some brokerages. It’s sad to say this but, it’s true. I am frustrated every day….no exaggeration….every single day by at least 2 or 3 Realtors who call me to ask me questions about my clients confidential transaction information that when I reply to them, “I am sorry but, I reserve those discussions with my clients only”….they blow up, accuse me of not knowing my job. It’s pathetic…..it really is. My point is, I am an advocate for enforcement, at least at this stage, all the enforcement we can get will be a good thing.

I challenge Brokers to read the CFPB newsroom articles. They may be surprised at just how the CFPB is going after violations. In fact, one article I read said that they fined a broker for a violation because, in their opinion, even though they did disclose, it didn’t go far enough. Brokers, you better be doing a good job at protecting yourself and ensuring your business affiliations are properly disclosed and no funny business is going on or, I may be writing a blog about your run in with the CFPB soon.

 Basics of Land Lording

Whether a landlord owning a one particular home for rent or several large apartment units, you want to run it with a profitable business and avoid legal mistakes. Every business success are depends on how you are knowledgeable and complying the laws as a citizen of your state.

Landlord must know his/her responsibility as an owner of the property. Legal responsibilities also are the task of being a landlord like tenant laws, in providing habitable rental housing to them. Even you are working with a property manager, still owner or landlords are liable for property manager’s illegal acts such as harassing a tenant. And if landlord’s legal mistakes ignore the dangerous conditions in the rental property that may lead to tenant injuries or even worse to death it can result in costly legal problems, and even jeopardize the landlord’s business.

If you and your tenant have a conflict regards the rent, deposits, repairs, etc. try to resolve disputes without lawyers it that doesn't say you have to send them a letter for eviction; meet the tenant and resolve the in a formal way. If that doesn't work then you can ask a help from your lawyer or sue them small claims court.

For you to gain successful rental business, always follows legal laws. Do your job as a landlord. Act professionally, in all the way.

 Download my app today! Text RE911 to 87778 to get my free real estate app, . If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.

EXCITING NEWS!

BPO Automation Group, LLC has just completed the sale of its software, Order Central, to the firm of Order Capture, Inc. This change will result in the ability of each firm to focus solely on one product. For BPOA the sole product will be its very successful AutoFill software. For OCI, the sole focus will be on enhancing the capability of Order Central software by adding new tasks to its capture capability and improvements to the software itself. The staff of Order Capture, Inc. includes Steve Lorimer, BPOA's former part-owner/Sales Manager, and the original Order Central development team with some added members.

The pricing, cancellation and refund policies, along with the software tasks and most of its capabilities have not changed, thus the software you have experienced at BPOA will continue to reliably capture orders for you. But, you will need to sign up for your credit card billing at Order Capture.com and download the slightly revised software.

All BPOA customers, upon transition over to Order Capture, Inc. will continue with their pricing plan that has been in effect at BPOA. This pricing will continue at Order Capture, Inc. Moving over to Order Capture, Inc. from BPO Automation Group is easy and should only take a few minutes. You should do it as soon as possible to avoid future disruption of service. If you have any questions or concerns about this move, please don't hesitate to contact either Steve at: support@ordercapture.com or support@bpo-automation.com.

Here is how to enjoy a quick and easy transition to Order Capture, Inc:

1. Go to www.ordercapture.com and browse for awhile, then click on the ‘Start Today’ tab. When prompted for the license key that you have had assigned to you at the BPO Automation Group there are two choices:

   * Click on the ‘Key Look Up’ tab and enter your name and email address. This link will provide your license key quickly and easily so that it can be copy and pasted into the license key prompt.

   * You can go to the Settings tab within Order Central to see your license key. It is a long code that looks like ABCD-EFGH-IJKL-MNOP-QRST-UVWX-YZTA. This would have also been emailed to you when you first signed up for Order Central with BPO Automation Group.

2. Select whether you are primarily a BPO agent or appraiser and click Submit. You will be directed to a secure billing screen for entry of your credit card information. For security reasons, we are unable to transfer your credit card information automatically from BPO Automation to Order Capture, Inc.

3. Upon completion of the billing information, go back to the Start Today tab and click, DOWNLOAD. If you need any help installing Order Central 2.0, please refer to the Installation Guide at: http://ordercapture.com/support/installation-guide/. Follow the directions and your software will be downloaded quickly for your use.

4. Order Central for BPO Automation Group is in version 1.0. At Order Capture, Inc., we have updated Order Central to 2.0 and added some improvements that are mostly behind the scenes. To continue using Order Central, you must install Order Central 2.0. Your account at BPOA will be terminated on June 15^th, so be sure to transition over prior to then. Your current version of Order Central will not automatically update to 2.0.

5. Again, if you need any help installing Order Central 2.0, please refer to the Installation Guide.

6. Once you've installed Order Central 2.0, the first time you run it, you will be asked to enter the email address you used to sign up and the password you entered.

7. You should now uninstall Order Central 1.0.

We have taken steps to insure that double billing will not occur during the switch-over from BPOA to OCI. If you see anything that appears incorrect on your next billing statements, please know that you will be issued a refund for any duplicate billings, if any, that are found.

You should find Order Central 2.0 to be very familiar and won't require any relearning. Most enhancements we've made are under the hood. We want to make sure current BPO Automation Group customers are able to transition smoothly before we introduce new features.

Thank you,

Nicole Ocean and Steve Lorimer

Restrictions on Day Care Programs in Rental Units

Situation:

Tenant wants to run a small day care program out of their rental unit. Is this legal?

Answer:

It always depends on your landlord conditions and the location of the rental unit. Also the tenant who want to run this programs must be qualify to take care children or if your tenant has state license to run a family care home. The building codes also are one factor that the property should be children’s friendly and safe.

Sometimes, landlord may oppose this decision because there many different reasons to start the conflict arise in the future. Landlord may be worried about lawsuits against him/her arising out of more children.

Too many children in one room mean many responsibilities. Remember landlord is always concerned about damages to of the unit because of the number of children. More children may mean more noise and other tenants will be disturb.

Remember, before tenant sign for lease contract check and see if there are any restrictions or objections from your landlords. If tenant want to run for a day care programs, always ask to your landlord for an approval; to know things to prepare and meet those standard needed to be done.

Download my app today! Text RE911 to 87778 to get my free real estate app, .  If you need help downloading my app, please call my Smarter Agent support team at 856-614-5423.