Colorado Creating US’s First Fossil Fuel-Free Community

The latest trend in the green movement – other than EVs – seems to be greenhousing communities. Considering everyone needs a place to live, this is a perfect focus for injecting green technology into daily living. Arvada, Colorado is all over this concept, going farther than solar roofing, or LEED certification goals. They’re setting up a community that will completely eliminate the use of fossil fuels.

Called Geos, the 25-acre area will have 250 homes from smaller 850 square feet to mansion-sized 3,500+ square feet placed in four neighborhoods. While that’s a whole lot of houses, they’ll be keeping a whopping 40% of the area as green space.

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I love reading stuff like this.

Sure you can find a broker who will cut their commision. The question you have to ask is are those the brokers you want working for you? In a market where the competition is as fierce as it is in todays market. Do you really want to work with the agent who is so desperate they are ready to take a pay cut just to get a job? Most of us, when hiring a pro, are willing to pay for a higher level of service and professionalisim. Your choice of broker is the difference between selling your property quickly and for the best price or sitting around waiting for a listing contract to expire. Make your choices based on much more than price.

On flip side of this is I find a client who needs only a portion of my services and is willing to take over certain asspects of the marketing or closing process, I will always adjust my fees.

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Falling foreclosures?

Are we seeing the begining of the end? Or is this juat another numbers game? The Wall Street Journal seems to feel that the powers that be are pulling the whol over our eyes again.

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3rd Quarter up 34%

Most of the time you might think this was good news. However, this time, not so much. 34% represents the increase in the national foreclosure rate. Read the whole article at Inman News.

Being a Land Lord

Have you ever thought of being a land lord? If you haven't, you might want to give it some thought. Some real serious thought. Make sure you have done your homework and understand the entire business. Becoming a land lord for the wrong reasons and without the right knowledge will lead to disaster. However, if your motivation and knowledge are up to the challenge, you will find yourself starting a very lucrative, rewarding and promising career or side business.

Look at it this way. As the population ages and the demand for qualified medical personnel increases, we start to hear about labor shortages. The demand for doctors, nurses and physicians’ assistants is out pacing the supply. This means any body able to fill this need will be handsomely compensated and sought after. The same is true in real estate.

As the sub-prime fiasco smashes through our economy, thousands and thousands of former home owners and their families are left wondering what to do next. The chance of them being able to find a lender to help them finance the purchase of another family home is non existent, at least for the next few years. The thought of moving back to an apartment complex is frightening and really not an option. These families need a place to go.

Now if you were to acquire a few of these undervalued, properties and made them available at a fair and profitable monthly rent, do you think there might be some demand for your services? Of course there will be. So while making an investment in your future and your community you will also be helping a family in need. Sounds rather rewarding.
What about the downside? No financial endeavor is without downside, and no good investor enters into a deal without knowing what the downside is and how it is going to be managed, mitigated or eliminated. In the land lord business there are several downsides. We have tenants, roofs, toilets, sinks, bathtubs, windows and so on. The only way to eliminate all of theses frustrating elements is to eliminate the house. However, no house usually means no tenants and that means you are failing as a landlord.

If we can’t eliminate the downside, we are left with managing and mitigating. The best place to turn for help managing a rental property is a management company. “But that costs money!” I know, I know it costs money. So save your money and you take care of the hot water heater, the stopped up toilet, the showings, the paperwork and the vacancy issues...I thought so. The cost of a good management company is a small price to pay for not being woken up at 2 in the morning to tell the tenant where the breaker box is.

What about mitigating the downside? That leads us to tenant selection. You can rent a crappy house in a crappy neighborhood and be doing all right if you know how to pick your tenants. Choosing your tenants and setting the rules with them upfront is the most important part of being a land lord. Do not rent to friends, family, coworkers or any of their friends or family. This is a business, keep the transactions at arms length. Any mutual acquaintances may cloud the waters and your judgment. Having the right tenants can help mitigate so many of the common land lord problems. And if you choose to use a management company, they can help you with this aspect of the business as well.

Being a land lord can be hard work or it can be a great investment. If you are willing to ask the right questions and hire the right team of people, you will be successful. Not to mention the fact that as soon as this market finds its bottom, it will be the 1990’s all over again. Just ask yourself what a house you bought for $92,000.00 in 1988 would have been worth in 2002. Hind site is 20/20, if you do not find a way to participate in the current market; you are going to want a new prescription.

By Kent Palmer