WE SECURE VACANT PROPERTY
D.A.W.G.S. (Door And Window Guard Systems) manufactures and rents attractive steel panels (Door and Window Guards) used to cover door and window openings on vacant buildings. Our vacant property security solutions eliminate break-ins and many of the other problems associated with vacant property.
Property investors, property managers, housing authorities rehabbers and real estate professionals trust D.A.W.G.S. to keep their vacant properties secure.
The average sales price for properties sold at foreclosure auction in Q1 2019 increased by 8% from the previous quarter to $147,115, or 7% higher than a year ago, according to a report from Auction.com. This is the highest level since Auction.com began recording this data in Q1 2016.
“Auction.com has digitized much of the foreclosure auction process over the past several years, giving us access to real-time transactional data from our leading marketplace that provides forward-looking insight for the distressed market as well as a good barometer for the larger retail housing market,“ said Auction.com CEO Jason Allnut
The Q1 2019 Auction.com Distressed Market Outlook notes that scheduled foreclosure auctions decreased 1% from a year ago nationwide but were up in 30 states, including California, Texas, Colorado and Nevada. According to the report, the declining rate of completed foreclosure auctions as a percentage of scheduled foreclosure auctions in the first quarter shows more distressed homeowners who fall into foreclosure are able to avoid a completed foreclosure.
Foreclosure auction properties sold for 20.8% below estimated market value on average in the first quarter, down from a 23.5% average discount in the previous quarter but up from a 19.7% average discount in Q1 2018.
By state, 25 states posted a year-over-year increase in the third-party buyer sales rate at foreclosure auction, including New Jersey (up 22%), Florida (up 2%), North Carolina (up 7%), Missouri (up 3%), and Virginia (up 6%). Additionally, average foreclosure auction sales prices increased from a year ago in 36 states, including New Jersey (up 22%), Florida (up 2%), Texas (up 4%), Georgia (up 3%), and Illinois (up 12%).
Twenty-five states posted an annual increase in third-party foreclosure auction sales, including Texas (up 11%), Ohio (up 34%), Virginia (up 32%), Wisconsin (up 47%), and Oklahoma (up 130%).
“Solid real estate investor demand and a limited supply of distressed properties continues to push average prices up in most parts of the country,” said Ali Haralson, Chief Business Development Officer at Auction.com. “Even in areas with decreasing prices, the decrease can often be explained with a shift in the type of inventory being sold at auction.
Renovations can make us happier in the places we call home, but some of the most dramatic updates can add real value when it’s time to sell.
6 home renovations that return the most at resaleSince kitchen, deck and other upgrades can represent a significant cost, it’s helpful to know what kind of return you might expect before you decide to write a check.
“Budget is the number one pain point for most remodeling professionals when they meet with potential clients,” says Clayton DeKorne, chief editor of the JLC Group, a collection of magazines serving building professionals. Since 2002, the organization’s Remodeling, a magazine for the construction industry, has produced the annual Cost vs. Value report, which examines the cost of popular home renovations versus the return on investment (ROI) at resale.
The 2019 Cost vs. Value report compares the average cost of 22 remodeling projects with the value those projects retain at resale in 136 U.S. markets, based on a survey of 3,000 real estate agents and firms. It’s important to note, however, that costs can vary greatly by region based on the cost of labor and materials, as well as the level of service offered by individual remodelers.
In any project, there are the so-called hard costs of labor and materials, but the real value is a combination of personal enjoyment and additional value at the time of a home sale.
“There’s no project on the list that returns lower than 50 percent,” DeKorne explains. “On the lower end of the ROI spectrum are the bigger-ticket projects that have a whole lot of personal selection involved, such as choosing finishes in a bathroom remodeling project. They may or may not translate from one buyer to the next, but there is value in those personal finishes. A homeowner is going to get enjoyment in those things while they’re living there.”
Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value. Here are the six home remodeling projects that deliver the highest returns.
Read Full Article [Source: www.bankrate.com]
DAWGS recently sponsored Lipstick Saints’ annual “Christmas in July” event held on July 13, 2019 at the Chicago Hope Cafe. This event provided an opportunity for the girls to give back. At the event, Lipstick Saints members created hygiene bags that will be donated to young ladies in the DCFS system. The event also included empowerments sessions led by inspiring role models Mo Brown and Kiyona Taylor.
“We are happy to have local businesses like DAWGS see the value in what we are doing and step up to support our cause” commented Mo Brown, Founder of Lipstick Saints. “We are always happy to support outstanding causes in our city, like Lipstick Saints. Chicago is where DAWGS started and is headquartered, we have received great support here, we just want to give back to this community” Jim Glass, VP Engineering for DAWGS
DAWGS Supports Local Non-Profit Lipstick Saints
After 3 years, DAWGS continues to support Lipstick Saints mission — to enrich inner city teenage girls lives through social experiences, and positive reinforcement.
The organization specifically assists teenage girls between the ages of 13 and 18 years with their self-esteem and confidence. Those who oversee the organization, including Mo, have themselves faced many of the same challenges these inner city teen girls face. The strong women leading Lipstick Saints have overcome their own challenges and they now represent a diverse group of professional women who are refined, compassionate, and graceful. These Lipstick Saints role models are dedicated to helping inner city teenage girls live happier and healthier lifestyles.
As a new or even seasoned investor, finding the best markets to invest in is crucial to long-term success. But what are the characteristics that define a market as among the best? Here are seven tips for all investors wanting to find the best real estate markets to invest in when it comes to rental properties or a buy-and-hold strategy.
1. Look for a rent-to-value ratio of 1%.
One of the quickest, easiest ways to determine if a rental property is a smart investment is the rent-to-value (RTV) ratio. For example, if a $100,000 property will rent for $1,000 per month, the RTV is 1%. Generally, if a property meets the 1% RTV, it is a viable investment to consider. A and B Class neighborhoods and properties may fall below the 1%. That doesn’t necessarily mean they are bad choices. However, if the RTV falls below 0.9%, you may not be getting the best return for your investment. If your aim is to maximize cash flow, the 1% RTV is important.
2. Rental demand is important.
Many major cities will have large percentages of renters, but many smaller markets may also be good places to find high percentages of renters. For example, the Midwest markets of Dayton, Ohio, and Middletown, Ohio — where I work and invest — have renter percentages between 40% and 50%. This is a strong correlation for a successful buy-and-hold strategy. If the population of renters falls below 30%, you’re likely looking at a market that may have trouble attracting renters because of location, price point or some other reason. Ideally, strive for markets with a 35%-60% renter population. A number higher than 60% can also indicate a market that doesn’t attract owner-occupied buyers, which isn’t positive either.
3. Diverse economy is key.
Beyond assessing whether the property is a good investment, you must evaluate the market you’re investing in. What are the large industry players? Is the city attracting new business? If so, what kind? You want to ensure that there is long-term support in the market for employment and future growth. If a market is heavily manufacturing, will those jobs be replaced with robotic technology? If a market is heavily based on tourism, could a natural disaster or a recession deplete the attraction for tenants? A diverse economy is key. This supports long-term stability, attraction for young professionals and a way to recession-proof the market (if a market relies on one industry, it could easily be wiped out during a recession, depending on what businesses fail during that time).
4. Don’t limit your location.
The mistake that many investors make is limiting their investments to a radius around their home. The old adage was to invest within an hour drive from home. However, the great expanse of the internet and technology has made this just that — an old adage. The emergence of firms like ours, known as turnkey investment companies, has made investing in markets away from your personal home possible. Turnkey companies specialize in finding promising rental properties, rehabbing them to certain standards, finding tenants and setting up property management for investors who live anywhere. I always say, “Live where you want. Invest where it’s smart.” If you confine your search to your local market, you will likely be missing out on some of the best investment markets.
5. Find a great team.
If you choose to invest in the best markets, they’re likely not within a close range to home (see No. 4). Therefore, it is important to find a great team with boots on the ground in the market you want to invest in. Find a turnkey company or team that lives and works in the area they’re investing in. There are many companies that invest and operate remotely. This means their home office is located in one city, while they’re selling properties in a market many states away. This is not ideal. You want a team that can easily access your investment on any given day if an issue occurs. Be sure to thoroughly vet any company before signing on to work together.
6. Think like an investor, not a homeowner.
Too often, investors base their purchase decision on where they would live. Cities in the Midwest may not be an East Coaster’s cup of tea, but that doesn’t many that millions of other people aren’t choosing to live, work and raise families there. If there is evidence to support a large renter population and the numbers for the investment make sense after your due diligence, don’t cancel the deal based on personal feelings on the market. Even more granular, don’t discount a property with a paint color or layout that you don’t personally enjoy. If the numbers make sense, and a renter is paying the rent amount, don’t let the purple shutters bother you that much. After all, you could always spend $100 to get the shutters painted.
7. Finally, look for boring markets.
Boring markets are best for buy-and-hold investors. Here’s why: Markets that have large ups and downs in terms of their real estate market can be turbulent. Markets like Las Vegas were hit hard in the recession. Many residents moved out, not only hurting the local economy, but also the renter population. Demand went down. Rent prices dropped, and cash flow for investors in that market took a tumble. Markets that are stable over the long term, that don’t have large ups and downs, will generally survive a recession without a huge hit. If you’re building a portfolio for cash flow purposes, or even banking on selling off assets in the future with a bit of appreciation earned, this is a very important point to consider.
View Source Article [www.forbes.com]
CoreLogic’s latest Home Price Index (HPI) revealed national home prices rose 3.6% year-over-year in May 2019.
The report adds that CoreLogic is forecasting prices to increase 5.6% from May 2019 to May 2020. The May 2019 gains was lower than the 6.4% increase of May 2018, but a slight increase from March 2019’s 3.3%.
Homes in the lower-price tier saw the largest annual increases at 5.4%. The middle low-to-middle tier rose 4.5%, middle-to-moderate price tier increased 4%, and the high-price tier jumped 3%.
CoreLogic stated the overall HPI has increased annually every month since March 2012, and grown 61.1% since bottoming out in March 2011. The overall HPI in May 2019 was 8.3% higher than its pre-crisis peak in April 2006. Home prices increased 2.6% year-over-year in May 2019, and were 11.6% below their peak.
For the eighth-consecutive month Idaho led the nation in annual appreciation, coming in at 10.7% in May 2019. North Dakota had its 11th month of annual HPI decreases, and saw home prices depreciate at 1.7%.
Home prices in 39 states, including the District of Columbia, have risen above their pre-crisis peaks. California, Idaho, and Michigan have surpassed their pre-crisis peaks as of May 2019.
Connecticut’s home prices in May 2019 were 17.6% below the July 2006 peak, which is the largest gap in the nation. Home price cooling was most evident, according to CoreLogic, in Washington, California, and Nevada.
Rising home prices are an issue for prospective buyers, as a study by realtor.com found that half of today’s home buyers are looking for a property under $288,000, which is more than 9% below the median price for homes currently on the market.
The results of the study found that home’s priced below $288,000 is 9.1%, or $27,000 under the national average.
“The price differences between what buyers are searching for, closing on, and what’s available on the market demonstrates just how big the gap is for entry-level home buyers,” said Danielle Hale, Chief Economist for realtor.com.
Realtor.com states that closing that gap won’t come easy, and estimates that approximately that 94,000 homes priced between $100,000 and $340,000 would need to be put up for sale achieve that balance.
Read Full Article [Source: www.dsnews.com]
The Vacant Property Problem
Abandoned and vacant properties are not just eyesores, they pose a real threat to public safety. When not properly secured, a vacant property, especially in a distressed area, will attract criminal activity. Drug and theft calls to the police are more than double in communities with abandoned buildings.
Another threat to public safety results from fires in vacant buildings. Arson and accidental fires in vacant structures cause numerous deaths and injuries and cost millions of dollars in property damage annually. Fires in vacant properties unnecessarily put the public and firefighters at risk.
Homeowners also pay the price
The true costs to communities with vacant properties affect homeowners who take on the financial burden associated with abandoned buildings and crimes that take place. Studies reveal that property values are decreased in neighborhoods with vacant properties. In addition to plunging property values, homes in close proximity to abandoned properties often times have higher insurance premiums. Higher premiums are assessed due to the risks associated with abandoned properties.
Steel Door and Window Guards Stop Break-ins
A vacancy not properly secured only exasperates these problems. The issue raised by a lack of security is what should be done with abandoned buildings to reduce or eliminate these problems. In distressed neighborhoods, the only sure way to stop break-ins and reduce crime is with DAWGS steel door and window guards. DAWGS recently surveyed Property Investors, Rehabbers and Real Estate Professionals who have used steel door and windows guards to secure their vacant properties. These property stakeholders agreed that steel is the most effective material when it comes to safeguarding a vacant property in distressed neighborhoods.
With the help of DAWGS steel door and window guards offering a security solution for abandoned houses, investors may feel more confident about turning liabilities into assets when it comes to a vacant property. The repurposing of abandoned buildings presents opportunities not only for financial growth for investors, but it also presents an opportunity to reduce levels of crime associated with vacant properties.
Tips for Investing in Vacant and Abandoned Properties – vacant and abandoned properties turning liabilities into assets
When it comes to buying vacant and abandoned properties, the first thing to note is that a vacant property has the potential to encounter a few more problems than usual. Since the property is sitting vacant, there may be damage from bugs, mice, or vandalism. While these issues could create a small speed bump for your investment deal, they should instead be thought of as factors that would increase the likelihood of a sale from the owner’s point of view.
Similarly, vacant properties, like any, demand upkeep. They may fall victim to a number of issues simply by sitting untouched over a given period of time. Depending on the amount of time a property has been vacant, sellers may not even realize how much upkeep should be going into the home. For those wondering how to buy a vacant property, consider the seller’s motivation: they may be ready to part ways with the home because of their current holding costs.
Find out what you need to know to successfully invest in and profit from repurposing vacant properties.
For more than a decade, DAWGS has provided equipment and vacant property accessibility training for first responders and fire departments in the areas they serve. The fire departments DAWGS has worked with includes the Chicago and New York Fire Departments.
Recently, the Philadelphia Fire Department has seen DAWGS steel door and window guards protecting vacant property throughout the city. In response to this growing trend, the Philadelphia FD reached out to DAWGS and requested support and training for their team to access DAWGS-secured vacant properties in the case of a fire or other emergency.
The Philadelphia Fire Department was rolling out a new training initiative, and added DAWGS vacant property accessibility training to their agenda. To kick off this new training initiative, the PFD sent two leaders from the training unit to meet with representatives from DAWGS at a vacant property secured by DAWGS steel door and window guards.
The DAWGS representatives provided on-site training as well as donated DAWGS equipment to the Philadelphia Fire Department for demonstration and the creation of training videos. The plan is for the training videos created by the Philadelphia Fire Department to be made available for use by fire departments and first responders in nearby cities and counties.
The DAWGS team has a longstanding belief and tradition of giving back to the communities they serve. Supporting first responders with training and equipment is an example of this commitment.
ABOUT DAWGS – VACANT PROPERTY ACCESSIBILITY TRAINING FOR FIRST RESPONDERS
D.A.W.G.S. (Door And Window Guard Systems) manufactures and rents attractive steel panels (Door and Window Guards) used to cover door and window openings on vacant buildings. As a solution for protecting abandoned houses, DAWGS’ vacant property security solutions eliminate break-ins and many of the other problems associated with vacant property. The effects of abandoned buildings on a community are pervasive. Vacant and abandoned properties reduce property values. Property investors, property managers, housing authorities rehabbers and real estate professionals trust D.A.W.G.S. to keep their vacant properties secure.
As you can imagine, a kitchen remodel ideas can be perplexing as you may not know where to begin, or how to chart the best course of action. So before you set about planning the initial stages of a complete kitchen renovation, it’s essential to know exactly where to start, and how much of a budget you have to work with as a kitchen remodel is a costly investment that can pay off when reselling – if done well.
To start, ask yourself what your goals are, what’s missing from your current kitchen design, and what you’d like to see go?
For avid cooks, seasoned hosts, and busy families, your kitchen is probably the center of your daily life—and a place where both form and function are of the utmost importance. For wisdom on how to master a kitchen remodel, we’ve compiled everything you need to know about renovating your kitchen for the ultimate of life-enhancing upgrades, from sourcing the right contractor to choosing backsplash tiles and hardware. We tapped our interior design and renovation experts for their takes on the best practices and discovered the best kitchen remodel ideas, and gathered our favorite decor ideas from innovative appliances to budget-friendly islands and charming breakfast nooks. Our renovation guide has you covered, whether you’re planning a complete kitchen remodel, or are simply on the lookout for new updated appliances, or are in need of inspiration for your dream kitchen remodel.
To get you started on bringing your kitchen remodel ideas to life, we’re looking at the top kitchen decor and renovation trends for 2019 culled from a survey of our decorator’s wisdom. From the best in updated kitchen furniture, to what to skip out on, here’s everything you need to know to recreate the heart of your home with confidence and ease.
Read Full Article [Source: www.decoraid.com]
It looks so easy! Buy a house, make a few cosmetic fixes, put it back on the market and make a huge profit. At any given time there are half-a-dozen shows on television where good-looking, well-dressed investors make the process look fast, fun and profitable. And plenty of homes are getting flipped. ATTOM Data Solutions reports that more than 200,000 in the United States were bought and the resold with the same 12-month period in 2017. That’s just under 6% of all the single-family homes and condominiums sold all year. Yet, the road to real-estate riches isn’t all about curb appeal and “sold” signs. Far too many would-be real estate moguls overlook the basics and end up failing. In this article, we’ll look at the five biggest mistakes would-be flippers make – and how to avoid them.
The first, best piece of advice is to limit your financial risk and also maximize your return potential. Put simply, don’t pay too much for a home (by knowing what it’s worth) and make sure you also know how much the necessary repairs or upgrades will cost before you buy. Having that information, you can then figure an ideal purchase price.
The 70% rule states that an investor should pay no more than 70% of the ARV (after-repair value) of a property minus the repairs needed. The ARV is what a home is worth after it is fully repaired.
Here’s an example: If a home’s ARV is $150,000 and it needs $25,000 in repairs, then the 70% rule means that an investor should pay no more than $80,000 for the home. $150,000 x 0.70 = $105,000 – $25,000 = $80,000.
Read Full Article [Source: www.investopedia.com]
While property tax delinquencies have declined in the last few years, the United States is still faced with approximately $11.8 billion in unpaid property taxes. Each year, $3–5 billion in delinquent real estate taxes are offered for public sale. In a tax-sale state, delinquent taxes can be sold as quickly as within six months.
Even in an upswing market, these are serious numbers, and investors must be vigilant to protect their assets. Delinquent and sold reporting is best monitored with real-time, accurate, and detailed information regarding delinquent and sold tax liabilities.
Read Full Article [Source: www.dsnews.com]