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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.
Could the Pandemic Mean Opportunity for Real Estate Investors?
The COVID-19 pandemic has left no industry untouched. Many Americans and property owners didn’t have the cash to pay their rent this month. Which means some landlords are going to struggle with the mortgage, which means an opportunity for some property investors.
During the last financial crisis, there was a lot of distressed property to be had in South Florida.
Daniel Lebensohn, co-founder of the investment firm BH3, said buying that distressed debt built the foundation of his company. He said nobody feels good about taking advantage of misfortune, but firms will be looking at this pandemic in the same light.
But KC Conway, chief economist at the CCIM Institute, thinks market changes will come in two phases.
“Phase one is really a repricing opportunity. And I think then the acquisition comes a little bit later, maybe six months down the road,” he said.
That’s because the real estate market moves slowly, and this pandemic is only a month old in the United States.
“It’s not as if anybody who owns anything is suddenly going to step up and say, ‘Oh, sure. A month ago, I could have sold this building for $400 a foot, but because I’m afraid of what’s happened in the market, you can buy for $200 per square foot,’” said Jim Costello, senior vice president at Real Capital Analytics.
He said it could get there at some point, it’s just not there yet.
And the hospitality sector is going to have an especially difficult time weathering this storm.
“Some of the areas like the hotels and the travel related … the restaurants, many of those are fairly tight on their cash flow and could actually be facing a situation where they need a buyer fairly soon,” said Calvin Schnure, senior economist at Nareit.
And retail office space, one part of the market that many viewed as fairly safe, could be compromised because so many people have learned to work from home.
See full article [Source: www.marketplace.org]
Maintaining REO Properties During a Pandemic
Recently The Federation of REO Certified Experts (FORCE) held virtual regional Townhall Meetings to discuss the impact of COVID-19 on residential real estate listings. Members discussed sustainability and business operations in a time of crisis, and how each region is responding differently. FORCE found that while each county is affected slightly differently, the core influence is the same in each region.
State by state, REO experts are facing different challenges. For example, in Washington, agents and brokers are not considered essential, while agents are considered essential in other states, including Nevada, Ohio, Arizona, and California. In areas real estate agents are not labeled as essential, operational strategies should heavily involve online strategies
Business can still be done, with the right technology in place, and as FORCE members note, there are still buyers who want to buy and sellers who want to sell. Technology is the way to not be held down in your operations, and with stay-at-home orders in place, many are doing virtual and 3D tours. Make sure you and your staff have the proper internet speeds, and make use of services such as Zoom, Facetime, and Skype for virtual open housings and showings.
Members also discussed the potential for break-ins and squatters. In order to mitigate damage, FORCE members suggested working with your community to keep an eye on properties, and maintaining weekly inspections.
As members note, there should be no problems with cash deals right now, especially as many credit lines have been pulled. Many FORCE members have stated that they are not taking properties off the market right now to not weaken days on the market, as you can still be doing what you can to get your properties sold, and asset management companies are being more lenient on scorecards during this time.
Read full article [Source: www.dsnews.com]
Cities and States That Have Paused Evictions Due to COVID-19
Reactions to the COVID-19 outbreak have varied greatly around the United States. While some areas are under shelter-in-place orders, others are responding in different ways, including pausing evictions. One of the challenges in pausing evictions is that how they are handled can vary both by state and by county.
The Department of Housing and Urban Development announced that it’s suspending all evictions and foreclosures until the end of April (2020). The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to do the same for a minimum of 60 days. The CARES Act puts a 120-day eviction moratorium in place nationally for tenants in properties that are part of government programs or that have a federally-backed mortgage loan. The National Multifamily Housing Council put out a release on March 22, 2020 asking apartment owners and landlords to halt evictions for renters who were experiencing job loss or reduction in income due to COVID-19. The council went on to request a 90-day pause on all rent increases.
Read full article for city and state specific responses to COVID-19. [Source: www.fool.com real estate}
Top 25 Markets for REO Fix-and-Flip Properties
- Virginia Beach-Norfolk-Newport News, VA-NC
- Richmond, VA
- Cleveland-Elyria, OH
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
- Baltimore-Columbia-Towson, MD
- Cincinnati, OH-KY-IN
- Rochester, NY
- Tucson, AZ
- Pittsburgh, PA
- Birmingham-Hoover, AL
- Jacksonville, FL
- Chicago-Naperville-Elgin, IL-IN-WI
- Oklahoma City, OK
- Louisville/Jefferson County, KY-IN
- Hartford-West Hartford-East Hartford, CT
- St. Louis, MO-IL
- Milwaukee-Waukesha-West Allis, WI
- Tampa-St. Petersburg-Clearwater, FL
- Buffalo-Cheektowaga-Niagara Falls, NY
- Kansas City, MO-KS
- Miami-Fort Lauderdale-West Palm Beach, FL
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- Orlando-Kissimmee-Sanford, FL
- Memphis, TN-MS-AR
- Riverside-San Bernardino-Ontario, CA
Read Full Article [www.hubzu.com]
DAWGS Gives Back to Chicago Communities
Chicago-based Door and Window Guard Systems has a long history of giving back to the communities they serve. One example is their long-term partnership with the Shore Joseph Koenig, Sr. Training Center located in Morton Grove, Illinois.
The mission of Shore Community Services is to improve the quality of life for persons with intellectual and other developmental disabilities. Shore does this through educational, residential and vocational programs provided with community integrated support and services.
Lisa Wright, COO at Shore describes the organization “Our tagline is ‘Guiding Individual Abilities’ which aims to empower every individual to achieve greater independence and a higher quality of life. We envision a world where individuals, at any level of developmental, intellectual and physical ability, enjoy vibrant and fulfilling lives while engaging in the communities where they live, work and play.”
February 2020 marks seven years since DAWGS started working with Shore Packaging Solutions. DAWGS employs Shore team members to sort and rekit their door and window guard materials once removed from a property. Shore employees sort and repackage individual DAWGS components and ready them to be redeployed to secure vacant properties.
Diego Garcia, Plant Manager for Shore commented “We really like working with DAWGS because the work is consistent. The consistency of the job enables the individuals working on DAWGS’ account to become experts at the tasks asked of them.”
The relationship between DAWGS and Shore Services is beneficial to both parties. DAWGS receives great service at a competitive rate and Shore is able to provide work for 20 individuals on a consistent basis.
The 11 Worst Home Renovations for Your Money
Remodeling Magazine’s 2020 Cost vs. Value Report takes a look at national average costs for 22 home remodeling projects.
It compares construction cost estimates for each project with the likely resale value. To get those resale estimates, the researchers surveyed real estate agents in 136 U.S. real estate markets, asking them these projects’ value when a remodeled home is sold.
Some of these are “upscale” jobs, others are “midrange” in cost. Although regional results vary, nationally, none of the jobs here can be expected to totally recover their cost.
Here, from bad to worst, are the 11 projects that make particularly poor choices for payback.
11. Bath remodel (midrange)
Average cost: $21,377
Return on investment: 64%
10. Bath remodel (universal design)
Average cost: $34,643
Return on investment: 62%
9. Roofing replacement (metal)
Average cost: $40,318
Return on investment: 61.2%
8. Major kitchen remodel (midrange)
Average cost: $68,490
Return on investment: 58.6%
7. Master suite addition (midrange)
Average cost: $136,739
Return on investment: 58.5%
6. Bath remodel (upscale)
Average cost: $67,106
Return on investment: 54.7%
5. Bathroom addition (upscale)
Average cost: $91,287
Return on investment: 54.7%
4. Bathroom addition (midrange)
Average cost: $49,598
Return on investment: 54%
3. Major kitchen remodel (upscale)
Average cost:$135,547
Return on investment: 53.9%
2. Grand entrance (fiberglass)
Average cost: $9,254
Return on investment: 53.3%
1. Master suite addition (upscale)
Average cost: $282,062
Return on investment: 51.6%
Read Full Article [Source: www.moneytalksnews.com]
10 Home Improvement Projects That Return The Most At Resale
If you want to get the biggest return on your investment in home renovation projects, it would be wise to take your to-do list outdoors. The 2020 Cost vs. Value report by Remodeling magazine found that nine out of the top 10 high-return projects are exterior replacement projects. Only the minor kitchen renovation rivals the rate of return of most exterior projects.
Whether you are just thinking about remodeling or ready to dive in, prioritize these exterior projects that will add curb appeal and value when it’s time to sell or refinance.
1. Manufactured stone veneer
Average cost: $9,357
Average resale value: $8,943
Cost recouped: 96%
2. Garage door replacement
Average cost: $3,695
Average resale value: $3,491
Cost recouped: 94%
3. Siding replacement (fiber cement)
Average cost: $17,008
Average resale value: $13,195
Cost recouped: 78%
4. Siding replacement (vinyl)
Average cost: $14,359
Average resale value: $10,731
Cost recouped: 75%
5. Window replacement (vinyl)
Average cost: $17,461
Average resale value: $12,761
Cost recouped: 72%
6. Deck addition (wood)
Average cost: $14,360
Average resale value: $10,355
Cost recouped: 72%
7. Window replacement (wood)
Average cost: $21,495
Average resale value: $14,804
Cost recouped: 69%
8. Entry door replacement (steel)
Average cost: $1,881
Average resale value: $1,294
Cost recouped: 69%
9. Deck addition (composite)
Average cost: $19,856
Average resale value: $13,257
Cost recouped: 67%
10. Roofing replacement (asphalt shingles)
Average cost: $24,700
Average resale value: $16,287
Cost recouped: 66%
Read Full Article [Source: www.forbes.com]
8 Real Estate Market Predictions for 2020
What will the 2020 Real Estate Market look like?
More of the same, or will we see some of the trends begin to shift? Real estate experts were asked to weigh in with their predictions for 2020. They provided their expectations across commercial and residential real estate, interest rates, and even what governments and private sector companies could do this year to impact the affordability crisis.
8 Trends Real Estate Experts are Predicting for 2020
- Retail closures will continue to be a problem for landlords.
- Rent control will spread more widely, eating into investor interest in higher-cost markets.
- Mortgage rates will fall to record lows.
- Homebuilders will keep focusing on starter homes.
- Venture capital will fund new real estate models in 2020.
- The private sector will bring new solutions to the affordable housing crisis.
- Investor appetite for Opportunity Zones is going to weaken after the 2019 rush.
- Clashes over multifamily housing developments will increase and get more heated.
Read Full Article [www.fool.com/millionacres]
Mortgage rate forecast for 2020: Experts predict low rates will last
If you’re looking to buy an investment property in the new year, there’s good news: Today’s low mortgage rates are expected to continue into 2020. The average 30-year fixed mortgage rate started 2019 at 4.68 percent and steadily declined before closing out the year at 3.93 percent. In 2020, rates are expected to remain mostly stable, not straying too much higher or lower from the 4 percent mark. Here are responses from a range of experts predicting what will happen to mortgage rates in 2020.
Expect mortgage rates to remain low
Greg McBride, CFA, Bankrate chief financial analyst, predicts mortgage rates will stay relatively stable around 4 percent in 2020. “The benchmark 30-year fixed rate mortgage will hopscotch back and forth over the 4 percent mark for much of 2020, remaining low enough to facilitate home buying and providing ample refinancing opportunities on those trips below 4 percent,” he says. Inflation is something borrowers should watch for, especially toward the end of 2020, McBride says. Core inflation, as measured by the Fed’s PCE Index, will top out at 2.2 percent, he predicts, which will likely keep the Fed muted on rate hikes. “Rates will trend higher toward the back half of the year as inflation readings move above 2 percent.” Since the end of June 2019, interest rates for the 30-year fixed-rate mortgage have stayed south of the 4 percent mark. They hit their lowest point on Sept. 4, dropping to 3.74 percent, according to Bankrate data. These historically low rates have helped homeowners save money by refinancing and made it easier for folks to afford to buy a house.
Read Full Article [Source: www.bankrate.com]
Top 10 Features of a Profitable Rental Property
Top 10 Features Of A Profitable Rental Property
1. Neighborhood. The neighborhood in which you buy will determine the types of tenants you attract and your vacancy rate. If you buy near a university, the chances are that students will dominate your pool of potential tenants and you will struggle to fill vacancies every summer. Also be aware that some towns attempt to discourage rental conversions by imposing exorbitant permit fees and piling on the red tape.
2. Property Taxes. Property taxes are likely to vary widely across your target area, and you want to be aware of how much you will be losing to them. High property taxes are not always a bad thing in a great neighborhood that attracts long-term tenants, but there are lousy places with high taxes, too. The municipality’s assessment office will have all the tax information on file, or you can talk to homeowners in the community. It is also wise to find out if property tax increases are likely in the near future. A town in financial distress may hike taxes far beyond what a landlord can realistically charge in rent.
3. Schools. If you’re dealing with family-sized homes, consider the quality of the local schools. Although you will be mostly concerned about the monthly cash flow, the overall value of your rental property comes into play when you eventually sell it. If there are no good schools nearby, it can affect the value of your investment.
4. Crime. No one wants to live next door to a hot spot for criminal activity. The local police or public library should have accurate crime statistics for neighborhoods. Check the rates for vandalism, serious crimes, and petty crimes, and note if criminal activity is moving up or down. You might also want to ask about the frequency of a police presence in your neighborhood.
5. Job Market. Locations with growing employment opportunities attract more tenants. To find out how an area rates for job availability, check with the U.S. Bureau of Labor Statistics or go to a local library. If you see an announcement about a major company moving to the area, you can be sure that workers in search of a place to live will flock to the area. This may cause house prices to go up or down, depending on the type of business moving in. You can assume that if you would like that company in your backyard, your renters will as well.
6. Amenities. Tour the neighborhood and check out the parks, restaurants, gyms, movie theaters, public transportation links, and all the other perks that attract renters. City Hall may have promotional literature that will give you an idea of where the best blend of public amenities and private property can be found.
7. Future Development. The municipal planning department will have information on new development that is coming or has been zoned into the area. If there is a lot of construction going on, it is probably a good growth area. Watch out for new developments that could hurt the price of surrounding properties. Additional new housing could also compete with your property.
8. Number of Listings and Vacancies. If a neighborhood has an unusually high number of listings, it can either signal a seasonal cycle or a neighborhood in decline. You need to find out which it is. In either case, high vacancy rates force landlords to lower rents to attract tenants. Low vacancy rates allow landlords to raise rental rates.
9. Average Rents. Rental income will be your bread-and-butter, so you need to know what the average rent in the area is. Make sure any property you consider will bear enough rent to cover your mortgage payment, taxes, and other expenses. Research the area well enough to gauge where it will be headed in the next five years. If you can afford the area now but taxes are expected to increase, an affordable property today may mean bankruptcy later.
10. Natural Disasters. Insurance is another expense that you will have to subtract from your returns, so you need to know just how much it’s going to cost you. If an area is prone to earthquakes or flooding, coverage costs can eat away at your rental income.
Read Full Article [Source: www.investopedia.com]
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