I'm getting on the soap box for a few lines this month to discuss some 'green' thoughts for the holidays and winter. And, I think that all of these types of things start at home. Many of these items also start and end in your wallet, so that's important to keep in mind. That being said, here are some tips entering winter:
1) Furnace Inspection
•Call an HVAC professional to inspect your furnace and clean ducts.
•Stock up on furnace filters and change them monthly.
•Consider switching out your thermostat for a programmable thermostat (but know how to use it)
•If your home is heated by a hot-water radiator, bleed the valves by opening them slightly and when water appears, close them.
•Remove all flammable material from the area surrounding your furnace.
2) Get the Fireplace Ready
•Cap or screen the top of the chimney to keep out rodents and birds.
•If the chimney hasn't been cleaned for a while, call a chimney sweep to remove soot and creosote.
•Buy firewood or chop wood. Store it in a dry place away from the exterior of your home.
•Inspect the fireplace damper for proper opening and closing.
•Check the mortar between bricks and tuckpoint, if necessary.
3) Check the Exterior, Doors and Windows
•Inspect exterior for crevice cracks and exposed entry points around pipes; seal them.
•Use weatherstripping around doors to prevent cold air from entering the home and caulk windows.
•Replace cracked glass in windows and, if you end up replacing the entire window, prime and paint exposed wood.
•If your home has a basement, consider protecting its window wells by covering them with plastic shields.
•Switch out summer screens with glass replacements from storage.
4) Inspect Roof, Gutters & Downspouts
•Adding extra insulation to the attic will prevent warm air from creeping to your roof and causing ice dams.
•Check flashing to ensure water cannot enter the home.
•Replace worn roof shingles or tiles.
•Clean out the gutters and use a hose to spray water down the downspouts to clear away debris.
•Consider installing leaf guards on the gutters or extensions on the downspouts to direct water away from the home.
5) Service Weather-Specific Equipment
•Drain gas from lawnmowers.
•Service or tune-up snow blowers.
•Replace worn rakes and snow shovels.
•Clean, dry and store summer gardening equipment.
•Sharpen ice choppers and buy bags of ice-melt / sand.
6) Check Foundations
•Rake away all debris and edible vegetation from the foundation.
•Seal up entry points to keep small animals from crawling under the house.
•Tuckpoint or seal foundation cracks. Mice can slip through space as thin as a dime.
•Inspect sill plates for dry rot or pest infestation.
•Secure crawlspace entrances.
7) Install Smoke and Carbon Monoxide Detectors
•Some cities require a smoke detector in every room.
•Buy extra smoke detector batteries and change them out annually.
•Install a carbon monoxide detector near your furnace and / or water heater.
•Test smoke and carbon monoxide detectors to make sure they work.
•Buy a fire extinguisher or replace an extinguisher older than 10 years.
8) Prevent Plumbing Freezes
•Locate your water main in the event you need to shut it off in an emergency.
•Drain all garden hoses.
•Insulate exposed plumbing pipes.
•Drain air conditioner pipes and, if your AC has a water shut-off valve, turn it off.
•If you go on vacation, leave the heat on, set to at least 55 degrees.
9) Prepare Landscaping & Outdoor Surfaces
•Trim trees if branches hang too close to the house or electrical wires.
•Ask a gardener when your trees should be pruned to prevent winter injury.
•Plant spring flower bulbs and lift bulbs that cannot winter over such as dahlias in areas where the ground freezes.
•Seal driveways, brick patios and wood decks.
•Don't automatically remove dead vegetation from gardens as some provide attractive scenery in an otherwise dreary, snow-drenched yard.
•Move sensitive potted plants indoors or to a sheltered area.
10) Prepare an Emergency Kit
•Buy indoor candles and matches / lighter for use during a power shortage.
•Find the phone numbers for your utility companies and tape them near your phone or inside the phone book.
•Buy a battery back-up to protect your computer and sensitive electronic equipment.
•Store extra bottled water and non-perishable food supplies (including pet food, if you have a pet), blankets and a first-aid kit in a dry and easy-to-access location.
•Prepare an evacuation plan in the event of an emergency.
Don't forget about your duct work! It can make a huge difference to inspect your duct work and tape up any areas that aren't properly sealed or are losing some warm air. It can mean big bucks back in your wallet for the holidays.
And, moving into the holiday season, here are some tips to reduce your waste and carbon footprint while boosting the American economy:
1) Buyer American made! If every American spends $64 on an American made product this holiday season, 200,000 jobs can be created - wow!
2) Thousands of paper and plastic shopping bags end up in landfills every year. Tell store clerks you don't need a bag for small or oversized purchases.
3) Wrap gifts in recycled or reused wrapping paper or funny papers. Also remember to save or recycle used wrapping paper. Give gifts that don't require much packaging, such as concert tickets or gift certificates.
4) Turn off or unplug holiday lights during the day. Doing so will not only save energy, but will also help your lights last longer.
5) Approximately 33 million live Christmas trees are sold in North America every year. After the holidays, look for ways to recycle your tree instead of sending it to a landfill. Check with your community solid waste department and find out if they collect and mulch trees. Check with TVA about using them as fish nesting habitats.
6) When buying gifts, check product labels to determine an item's recyclability and whether it is made from recycled materials. Buying recycled encourages manufacturers to make more recycled-content products available.
Happy Holidays!
Thursday, December 1, 2011
Monday, October 31, 2011
Agree or Disagree with the Protests - If You're Reading This, You're in the 99%
I thought that this month I would simply share a few links that I found interesting. I would like to preface them by saying that whether you agree or disagree with the protests, if you're reading this, you're part of the 99% that these people are talking about. And, if you're part of the 1%, we need to get together and discuss real estate investment opportunities. A statistic was just released from the CBO that the wealth of the top 1% of the US population (that make $344,000/year or more on tax returns) has grown by 275% since 1979, while the bottom 20%'s (individuals who made $25,000/year or less) wealth grew by just under 18%. This is a very hot button issue and people have very strong opinions on the topic, and there are always "deadbeats," "troublemakers," "and "losers" that take part in any kind of protest or cause that tend to yell louder and spoil it for others (i.e. Tea Parties), so I thought that I would just share these links to also expose the idea that these "Occupy" movements are going on all over the world. I'm not taking sides or trying to convince anyone of what to think or not to think, but the distribution of wealth is the basis for a strong democracy, and that is just a fact agreed upon by any economist on any political side. And, currently the US ranks just above Uganda, Cambodia, Iran, and Cameroon. So, take a look, it's pretty interesting...
Graph and article about the CBO growth of wealth study:
http://abcnews.go.com/Business/income-doubles-top-percent-1979/story?id=14817561
"Occupy" opinions from around the globe:
http://www.guardian.co.uk/world/blog/2011/oct/21/occupy-wall-street-whyoccupy-conversation
Map of the "Occupy Protests":
http://www.guardian.co.uk/news/datablog/interactive/2011/oct/18/occupy-protests-map-world
Country's of the world distribution of wealth comparison:
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2172rank.html
Feel free to share your thoughts, but please, play nice!
Graph and article about the CBO growth of wealth study:
http://abcnews.go.com/Business/income-doubles-top-percent-1979/story?id=14817561
"Occupy" opinions from around the globe:
http://www.guardian.co.uk/world/blog/2011/oct/21/occupy-wall-street-whyoccupy-conversation
Map of the "Occupy Protests":
http://www.guardian.co.uk/news/datablog/interactive/2011/oct/18/occupy-protests-map-world
Country's of the world distribution of wealth comparison:
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2172rank.html
Feel free to share your thoughts, but please, play nice!
Friday, September 30, 2011
Fewer Sick Days, Higher Rents in Green Buildings
Environmentally-friendly construction practices have gotten a lot of hype over the past few years but do they really pay off as an investment? A new study found that tenants in green buildings experience increased productivity and fewer sick days. The research also found that that green buildings have lower vacancy rates and higher rents than non-green counterparts.
The study, conducted by the University of San Diego and commercial real estate broker CB Richard Ellis Group, found that tenants in green buildings such as the Behnisch Architekten-designed Unilever offices in Hamburg above are more productive based on two measures: the average number of tenant sick days and a productivity change. Respondents reported an average of 2.88 fewer sick days in their current green office versus their previous non-green office. About 55% of respondents indicated that employee productivity had improved.
Based on the average tenant salary, an office space of 250 square feet per worker and 250 workdays a year, the decrease in sick days translated into a net impact of nearly $5.00 per square foot per year. The increase in productivity translated into a net impact of about $20 per square foot. The study also showed that green buildings have 3.5% lower vacancy rates and 13% higher rental rates than the market.
The work was based on surveys of 154 buildings under CBRE's management, totaling more than 51.6 million square feet and housing 3,000 tenants in ten markets across the U.S. The study defined a green building as those with LEED certification at any level or those that bear the EPA ENERGY STAR ® label.
Another report out in the past week concluded that constructing new green buildings or retrofitting existing structures with energy efficient air conditioning, solar panels and the like will support 7.9 million U.S. jobs and pump $554 billion into the American economy over the next four years. The study, by the U.S. Green Building Council and Booz Allen Hamilton, determined that green construction spending currently supports more than 2 million American jobs and generates more than $100 billion in gross domestic product and wages.
The economic impact of the total green construction market from 2000 to 2008, the study found, was $178 billion. It created or saved 2.4 million jobs and generated $123 billion in wages.
The U.S. Green Building Council certifies LEED buildings and obviously has an interest in the movement, but Rick Fedrizzi, chief exec of the group said something remarkably down to earth in releasing the report: “Our goal is for the phrase ‘green building’ to become obsolete, by making all building and retrofits green – and transforming every job in our industry into a green job.”
Can't argue with that. And, there is not near enough of this going on in the Appalachian region, and we have one the most naturally beautiful areas in the world to protect. Call T. C. Lewis & Co. for any questions about green building or retro-fitting.
*Some info was taken from Business Week (September 2011)
The study, conducted by the University of San Diego and commercial real estate broker CB Richard Ellis Group, found that tenants in green buildings such as the Behnisch Architekten-designed Unilever offices in Hamburg above are more productive based on two measures: the average number of tenant sick days and a productivity change. Respondents reported an average of 2.88 fewer sick days in their current green office versus their previous non-green office. About 55% of respondents indicated that employee productivity had improved.
Based on the average tenant salary, an office space of 250 square feet per worker and 250 workdays a year, the decrease in sick days translated into a net impact of nearly $5.00 per square foot per year. The increase in productivity translated into a net impact of about $20 per square foot. The study also showed that green buildings have 3.5% lower vacancy rates and 13% higher rental rates than the market.
The work was based on surveys of 154 buildings under CBRE's management, totaling more than 51.6 million square feet and housing 3,000 tenants in ten markets across the U.S. The study defined a green building as those with LEED certification at any level or those that bear the EPA ENERGY STAR ® label.
Another report out in the past week concluded that constructing new green buildings or retrofitting existing structures with energy efficient air conditioning, solar panels and the like will support 7.9 million U.S. jobs and pump $554 billion into the American economy over the next four years. The study, by the U.S. Green Building Council and Booz Allen Hamilton, determined that green construction spending currently supports more than 2 million American jobs and generates more than $100 billion in gross domestic product and wages.
The economic impact of the total green construction market from 2000 to 2008, the study found, was $178 billion. It created or saved 2.4 million jobs and generated $123 billion in wages.
The U.S. Green Building Council certifies LEED buildings and obviously has an interest in the movement, but Rick Fedrizzi, chief exec of the group said something remarkably down to earth in releasing the report: “Our goal is for the phrase ‘green building’ to become obsolete, by making all building and retrofits green – and transforming every job in our industry into a green job.”
Can't argue with that. And, there is not near enough of this going on in the Appalachian region, and we have one the most naturally beautiful areas in the world to protect. Call T. C. Lewis & Co. for any questions about green building or retro-fitting.
*Some info was taken from Business Week (September 2011)
Friday, August 26, 2011
How to Make $5000 Stretch in a Kitchen Remodel
For September, I wanted to focus on an issue that it seems like a lot of folks are dealing with... "My kitchen needs to be remodeled, but we just don't have that kind of money." If you've said that, you're not alone...
A "minor" kitchen remodel will cost homeowners, on average, $21,695, according to the Cost vs. Value survey, an annual report by Remodeling magazine, in cooperation with REALTOR® Magazine, that reveals the top remodeling projects offering the highest returns at resale. Home owners stand to recoup about 72 percent (or $15,790) of that investment from a kitchen remodel when it’s time to sell too.
So the kitchen can offer some big payback at times of resale, but for the average home owner, $21,000 nowadays may be too much for their budget. So what should you do when a dated kitchen is still in desperate need of some TLC?
Check out this video below from AOL Real Estate with Jeff Lewis, star of Bravo’s “Flipping Out,” sharing how he transformed a kitchen for less than $5,000. He painted the cabinets, added new countertops, replaced the faucet, added a stainless steel kitchen island, and accessorized to give the kitchen an updated, fresh look.
And, don't hesitate to contact us for a free consultation about remodeling your kitchen!
Follow this link for the video: http://styledstagedsold.blogs.realtor.org/2011/08/08/how-to-make-5000-stretch-in-a-kitchen-remodel/
A "minor" kitchen remodel will cost homeowners, on average, $21,695, according to the Cost vs. Value survey, an annual report by Remodeling magazine, in cooperation with REALTOR® Magazine, that reveals the top remodeling projects offering the highest returns at resale. Home owners stand to recoup about 72 percent (or $15,790) of that investment from a kitchen remodel when it’s time to sell too.
So the kitchen can offer some big payback at times of resale, but for the average home owner, $21,000 nowadays may be too much for their budget. So what should you do when a dated kitchen is still in desperate need of some TLC?
Check out this video below from AOL Real Estate with Jeff Lewis, star of Bravo’s “Flipping Out,” sharing how he transformed a kitchen for less than $5,000. He painted the cabinets, added new countertops, replaced the faucet, added a stainless steel kitchen island, and accessorized to give the kitchen an updated, fresh look.
And, don't hesitate to contact us for a free consultation about remodeling your kitchen!
Follow this link for the video: http://styledstagedsold.blogs.realtor.org/2011/08/08/how-to-make-5000-stretch-in-a-kitchen-remodel/
Monday, August 1, 2011
Bill Asks Banks to Rent Foreclosures to Save Home Values
As a glut of foreclosures on the market weighs down home values across the country, a bipartisan bill introduced this week in the House proposes a solution to reducing the high inventories: Rent the properties out.
The proposed bill, Neighborhood Preservation Act of 2011 (H.R. 2636), calls on banks and the government-sponsored enterprises--Fannie Mae and Freddie Mac--to start renting out some of their foreclosed properties to reduce REO sales and “stabilize home values and restore confidence in the housing markets.”
The bill would authorize federally-chartered institutions to enter into a long-term lease -- for up to five years -- with the occupant of the property or with another person, and then at the end of the agreement provide an option to buy the home to the tenant.
The bill could allow delinquent borrowers to remain in their homes but they would have to agree to pay rent and still sign over the deed to the bank or GSE, National Mortgage News reports.
According to the bill, this would allow the foreclosed property to remain occupied during the still-sluggish housing market and “preserve the property itself as well as the aesthetic and economic values of neighboring homes and even whole neighborhoods.”
"As Americans across the country are affected by this unrelenting foreclosure crisis, it is imperative that Congress address this issue," Congressman Gary Miller, R-Calif., who introduced the bill, said in a statement.
The proposed bill, Neighborhood Preservation Act of 2011 (H.R. 2636), calls on banks and the government-sponsored enterprises--Fannie Mae and Freddie Mac--to start renting out some of their foreclosed properties to reduce REO sales and “stabilize home values and restore confidence in the housing markets.”
The bill would authorize federally-chartered institutions to enter into a long-term lease -- for up to five years -- with the occupant of the property or with another person, and then at the end of the agreement provide an option to buy the home to the tenant.
The bill could allow delinquent borrowers to remain in their homes but they would have to agree to pay rent and still sign over the deed to the bank or GSE, National Mortgage News reports.
According to the bill, this would allow the foreclosed property to remain occupied during the still-sluggish housing market and “preserve the property itself as well as the aesthetic and economic values of neighboring homes and even whole neighborhoods.”
"As Americans across the country are affected by this unrelenting foreclosure crisis, it is imperative that Congress address this issue," Congressman Gary Miller, R-Calif., who introduced the bill, said in a statement.
Tuesday, June 28, 2011
Real Estate Opportunities in the World's Most Romantic City
I was inspired this month to write once again about real estate investing internationally. Mainly because I have a good friend traveling through Spain as I write this, and I'm a little jealous - okay, a lot jealous. Anyway, as I've said in my previous postings, there are solid opportunities around the world, and it doesn't necessarily take an adventurous risk-taker to pursue making money investing in real estate internationally. This entry takes us to the most romantic city in the world - I've traveled there before, and it's pretty amazing...
Venice in Italy is one of the world’s most enchanting cities thanks to the almost fairytale allure of landmarks such as St Mark’s Basilica and Square, the Palazzo Ducale, the Grand Canal and the Bridge of Sighs.
This is understandably one of the most desirable places in which to own a property in Italy. Yet with prices of apartments in St Mark’s Square, for instance, routinely changing hands for US$9.75million, many investors have shied away from buying real estate in Venice. As have many locals, in truth, and since the 1950s the city’s population has shrunk by two-thirds to its present 60,000.
Yet there are highly affordable and profitable investment opportunities to be snapped up there - if you look in the right parts of the city. One such area is Dorsoduro, one of Venice’s six sestieri (districts) and a short vaporetto boat ride from St Mark’s Square. Here, just US$360,000 can buy a small, well-appointed apartment. Dorsoduro lacks nothing in upmarket chic as it is home to the Accademia art gallery, the Peggy Guggenheim Museum and a recently opened Punta della Dogana Museum, a major collection of contemporary art on the site of an old 17th century customs house.
Yet it is also a lively, vibrant area – the Ca’ Foscari University is here – and after dark Dorsoduro’s bars and cafés form the centre of Venice’s nightlife. To get more bang for your investment buck, head for the even more affordable Castello, Venice’s largest district, which lies just to the east of St Mark’s Square but is slightly off the well-trodden tourist trail. Here, expect to pay around US$415,000 for a two-bedroom apartment of around 75-80sq meters - yes it's meters in Italy.
The rental yield of property in Venice remains huge. Some 20 million visitors a year beat a path to the city, for its historic architectural splendour as well as popular events such as the carnival in February/March; the Biennale arts festival in summer and autumn; and the Venice Film Festival in August/September. It means there is demand for rental properties almost all year round. In high season, a one-bedroom apartment can fetch from US$1,700 a week, a two-bedroom property around US$2,600 and the most prestigious properties US$8,000-plus.
Alternatively, look farther afield to the outlying isles among the 118 that make up the Venetian archipelago. In Burano, six miles outside the city centre, US$625,000 can secure a house rather than just an apartment. The nearby islands of Tellestrina Chioggia and Torcello are also worth a look. Bear in mind that rental yield will fall the further away from the centre of Venice in which you are.
Another popular option is to look beyond Venice and to the historic towns and cities within the Veneto region, some 45 minutes away by train, but it's worth the visit, and the train ride is amazing. They include Verona, one of Veneto’s principal tourist and cultural destinations; Vicenza, a Unesco World Heritage Site; Padova, a lively, attractive and historic university city; and Treviso, renowned for its wine and cuisine. In Treviso and Vicenza, expect to pay around US$350,000 for a two-bedroom town centre apartment.
Padova is possibly the priciest of these towns and an 80sq m two-bedroom apartment will frequently come with a price tag of around US$550,000. Obviously the price falls considerably if you are prepared to take on a restoration project. Explore the surrounding countryside, where in places such as the spa resort of Abano Terme US$350,000 can stretch to a spacious three-bedroom home.
Broaden your horizons and check out the world. We can help with an investment if you're interested. There are deals to be had everywhere - even in the world's most romantic city.
Venice in Italy is one of the world’s most enchanting cities thanks to the almost fairytale allure of landmarks such as St Mark’s Basilica and Square, the Palazzo Ducale, the Grand Canal and the Bridge of Sighs.
This is understandably one of the most desirable places in which to own a property in Italy. Yet with prices of apartments in St Mark’s Square, for instance, routinely changing hands for US$9.75million, many investors have shied away from buying real estate in Venice. As have many locals, in truth, and since the 1950s the city’s population has shrunk by two-thirds to its present 60,000.
Yet there are highly affordable and profitable investment opportunities to be snapped up there - if you look in the right parts of the city. One such area is Dorsoduro, one of Venice’s six sestieri (districts) and a short vaporetto boat ride from St Mark’s Square. Here, just US$360,000 can buy a small, well-appointed apartment. Dorsoduro lacks nothing in upmarket chic as it is home to the Accademia art gallery, the Peggy Guggenheim Museum and a recently opened Punta della Dogana Museum, a major collection of contemporary art on the site of an old 17th century customs house.
Yet it is also a lively, vibrant area – the Ca’ Foscari University is here – and after dark Dorsoduro’s bars and cafés form the centre of Venice’s nightlife. To get more bang for your investment buck, head for the even more affordable Castello, Venice’s largest district, which lies just to the east of St Mark’s Square but is slightly off the well-trodden tourist trail. Here, expect to pay around US$415,000 for a two-bedroom apartment of around 75-80sq meters - yes it's meters in Italy.
The rental yield of property in Venice remains huge. Some 20 million visitors a year beat a path to the city, for its historic architectural splendour as well as popular events such as the carnival in February/March; the Biennale arts festival in summer and autumn; and the Venice Film Festival in August/September. It means there is demand for rental properties almost all year round. In high season, a one-bedroom apartment can fetch from US$1,700 a week, a two-bedroom property around US$2,600 and the most prestigious properties US$8,000-plus.
Alternatively, look farther afield to the outlying isles among the 118 that make up the Venetian archipelago. In Burano, six miles outside the city centre, US$625,000 can secure a house rather than just an apartment. The nearby islands of Tellestrina Chioggia and Torcello are also worth a look. Bear in mind that rental yield will fall the further away from the centre of Venice in which you are.
Another popular option is to look beyond Venice and to the historic towns and cities within the Veneto region, some 45 minutes away by train, but it's worth the visit, and the train ride is amazing. They include Verona, one of Veneto’s principal tourist and cultural destinations; Vicenza, a Unesco World Heritage Site; Padova, a lively, attractive and historic university city; and Treviso, renowned for its wine and cuisine. In Treviso and Vicenza, expect to pay around US$350,000 for a two-bedroom town centre apartment.
Padova is possibly the priciest of these towns and an 80sq m two-bedroom apartment will frequently come with a price tag of around US$550,000. Obviously the price falls considerably if you are prepared to take on a restoration project. Explore the surrounding countryside, where in places such as the spa resort of Abano Terme US$350,000 can stretch to a spacious three-bedroom home.
Broaden your horizons and check out the world. We can help with an investment if you're interested. There are deals to be had everywhere - even in the world's most romantic city.
Tuesday, May 31, 2011
There are Realtors and then there are Realtors...
I'll start by saying that this is not meant to put anyone down, accuse anyone of intentionally not doing his or her job, or knock on those who didn't have higher education opportunities. But, there are Realtors and then there are Realtors.
If you have been in the market for any type of property, you have probably realized that everybody has a real estate license. Everybody. It seems like everytime I walk in the Ingle's grocery in my neighborhood, I see at least one Realtor. Frankly, it's too easy to get and maintain a license. And some people don't bother and are still out managing rental properties (illegal in TN) and are now self-proclaimed "Real Estate Investment Coaches." I've always been a proponent of more stringent licensing and renewal regulations - even going as far as to suggest a minimum two year degree (Associate's) to work in the business. Realtors have a big impact on local economies through pricing of properties, advice to consumers, which properties are shown, which are ignored, business expansion locations, business relocations, lobbying efforts locally, regionally, and nationally - a lot of things that the general public doesn't realize. And, most have an even bigger impact on assisting the average consumer with what will surely be the largest purchase in his/her life. Note, the National Association of Realtors is the largest (and one of the most well-funded) trade organizations in the United States.
The good thing about all that I mentioned above is that there is a lot of good that Realtors can do. A good Realtor can help a client look at all angles of a situation. A good Realtor can then assist the client in understanding all viable options to provide the client with the best possible information for a sound decision - even if it's not exactly what you wanted to hear. Whether it's in commercial or residential real estate, a good Realtor will help the client make the best investment. Even in the residential setting, when the average consumer is only staying in a home for an average of 5 years, it's an investment, whether the consumer realizes it or not.
The problem with the influential-nature of being a Realtor is that there aren't a lot of actual experts in the marketplace. So, some of the largest corporations that may be looking to expand or relocate into the area, the investors looking to invest in our properties, and homebuyers looking for sound advice may be talking to someone who has no clue, no education, or a biased opinion. Example - I've heard from a number of businesses that (in the past) they have been totally swayed away from the possibility of relocating into the downtown area of Johnson City. And, it's usually based on this: "Downtown hasn't been anything in years, so I'd look for a nice place toward north Johnson City." That statement isn't founded in any data or research, and is simply a biased opinion from a Realtor.
On the clueless side, there are a lot of Realtors who use real estate as a side job. They count on friends and family to buy or sell a house or two every year, and they may or may not be up to date on education, paperwork, price trends, value changes, etc. Most of those folks look at real estate like freelance sales - and that is a problem. Realtors are a tool to match the consumer with the right product, and not intended to sell you on anything. And this stuff happens VERY easily. As I said, Realtors are everywhere - they're church-goers, non-profit members, neighbors, parents to friends of children, co-workers, etc. So, it's a good possibility that you're going to run into one. And, when you're in the market for a property, real estate is going to come up. Then you're hooked by someone just based on your casual conversations who may or may not know what he or she is actually doing.
Some entire real estate companies are setup to encourage their Realtors to recruit more Realtors in a legalized pyramid scheme where sometimes they become more obsessed with stacking their pyramid than with advising you on real estate matters. But, I'm not just laying the blame here with Realtors because if consumers would take the decision of spending a couple hundred thousand dollars more seriuosly, most of these "hobby" and "pyramid" Realtors would have nothing to do.
So, my entry for this month is just to encourage all you consumers - buyers, sellers, investors, business-owners, etc. to think about it. I'm not saying a Realtor from T. C. Lewis & Co. is the only one to use because there are other experts in the mountain south. But I am saying that you should evaluate your Realtor on more than just a casual conversation that you had with him or her at a playdate with your kids. Remember, there are Realtors and then there are Realtors.
If you have been in the market for any type of property, you have probably realized that everybody has a real estate license. Everybody. It seems like everytime I walk in the Ingle's grocery in my neighborhood, I see at least one Realtor. Frankly, it's too easy to get and maintain a license. And some people don't bother and are still out managing rental properties (illegal in TN) and are now self-proclaimed "Real Estate Investment Coaches." I've always been a proponent of more stringent licensing and renewal regulations - even going as far as to suggest a minimum two year degree (Associate's) to work in the business. Realtors have a big impact on local economies through pricing of properties, advice to consumers, which properties are shown, which are ignored, business expansion locations, business relocations, lobbying efforts locally, regionally, and nationally - a lot of things that the general public doesn't realize. And, most have an even bigger impact on assisting the average consumer with what will surely be the largest purchase in his/her life. Note, the National Association of Realtors is the largest (and one of the most well-funded) trade organizations in the United States.
The good thing about all that I mentioned above is that there is a lot of good that Realtors can do. A good Realtor can help a client look at all angles of a situation. A good Realtor can then assist the client in understanding all viable options to provide the client with the best possible information for a sound decision - even if it's not exactly what you wanted to hear. Whether it's in commercial or residential real estate, a good Realtor will help the client make the best investment. Even in the residential setting, when the average consumer is only staying in a home for an average of 5 years, it's an investment, whether the consumer realizes it or not.
The problem with the influential-nature of being a Realtor is that there aren't a lot of actual experts in the marketplace. So, some of the largest corporations that may be looking to expand or relocate into the area, the investors looking to invest in our properties, and homebuyers looking for sound advice may be talking to someone who has no clue, no education, or a biased opinion. Example - I've heard from a number of businesses that (in the past) they have been totally swayed away from the possibility of relocating into the downtown area of Johnson City. And, it's usually based on this: "Downtown hasn't been anything in years, so I'd look for a nice place toward north Johnson City." That statement isn't founded in any data or research, and is simply a biased opinion from a Realtor.
On the clueless side, there are a lot of Realtors who use real estate as a side job. They count on friends and family to buy or sell a house or two every year, and they may or may not be up to date on education, paperwork, price trends, value changes, etc. Most of those folks look at real estate like freelance sales - and that is a problem. Realtors are a tool to match the consumer with the right product, and not intended to sell you on anything. And this stuff happens VERY easily. As I said, Realtors are everywhere - they're church-goers, non-profit members, neighbors, parents to friends of children, co-workers, etc. So, it's a good possibility that you're going to run into one. And, when you're in the market for a property, real estate is going to come up. Then you're hooked by someone just based on your casual conversations who may or may not know what he or she is actually doing.
Some entire real estate companies are setup to encourage their Realtors to recruit more Realtors in a legalized pyramid scheme where sometimes they become more obsessed with stacking their pyramid than with advising you on real estate matters. But, I'm not just laying the blame here with Realtors because if consumers would take the decision of spending a couple hundred thousand dollars more seriuosly, most of these "hobby" and "pyramid" Realtors would have nothing to do.
So, my entry for this month is just to encourage all you consumers - buyers, sellers, investors, business-owners, etc. to think about it. I'm not saying a Realtor from T. C. Lewis & Co. is the only one to use because there are other experts in the mountain south. But I am saying that you should evaluate your Realtor on more than just a casual conversation that you had with him or her at a playdate with your kids. Remember, there are Realtors and then there are Realtors.
Friday, April 29, 2011
T. C. Lewis & Co's New Website
This month's entry is for total bragging on our new website! Earlier this month we rolled out our new site with a ton of new features. Now, we're constantly adding to it, so we'll have new things to check out in the coming weeks. For example, there are some 30 and 60 second instructional clip links that we're working on in case you're having trouble with all the features. We'll get those posted asap. So, I thought I would basically discuss the site and provide some reminders about what T. C. Lewis & Co. can do for you.
I'll start with a short summary of the site. Check it out: http://www.tclewisproperties.com/! When you arrive you basically can read all the info about who we are and general descriptions of our services and contact info. Then, you have three options of where to go next. You can click "Tri-Cities Properties and Services," "Western North Carolina Properties and Services," and "International." Once you've made your decision, you're directed to a site dedicated completely to the region of interest. The map with residential properties on that first page allows you to zoom in and draw boxes around specific areas to see more and more properties- the more you zoom on an area, the more properties you're shown. You are searching every property currently available in the reigon! You can also click on the top left of that map and choose to look at "Lots and Land" or "Commercial" properties. You also have the option at the top to select to search via MLS number, address, or criteria that you input. You'll also notice green buttons on the right hand side just below the iphone/ipad app button (you can click that to download the search app and search on the go). The green buttons direct you to things like "Area Foreclosures." You can select your specific search criteria for foreclosures once you click the button and are directed to the next screen. The user has so many tools at his/her disposal on the site that you can also create an account and save properties to check back on later, show to your husband/wife, or compare properties. The account is obligation free, and you have a password protected area where you can view the properties that you like. You can also opt in for daily updates for new properties coming on the market that match your criteria. Like I said, it does everything!!! If you have specific questions, please just call the office, and we'll get you going in the right direction. At the top of the site, the tabs will take you to featured properties for the region, including rent/lease opportunities. We're really excited- can you tell?!
And, as a reminder of who we are... We are an award-winning full-service real estate comany. We are the only one of our kind in the Appalachian Mountain region of the Southeast and serve individuals, corporations, and investors with a residential and commercial real estate purchase and sales brokerage, site analysis and selection services, property management services, and construction/remodeling services. So, please don't hesitate to contact us for any of these needs. We're happy to oblige!
I'll start with a short summary of the site. Check it out: http://www.tclewisproperties.com/! When you arrive you basically can read all the info about who we are and general descriptions of our services and contact info. Then, you have three options of where to go next. You can click "Tri-Cities Properties and Services," "Western North Carolina Properties and Services," and "International." Once you've made your decision, you're directed to a site dedicated completely to the region of interest. The map with residential properties on that first page allows you to zoom in and draw boxes around specific areas to see more and more properties- the more you zoom on an area, the more properties you're shown. You are searching every property currently available in the reigon! You can also click on the top left of that map and choose to look at "Lots and Land" or "Commercial" properties. You also have the option at the top to select to search via MLS number, address, or criteria that you input. You'll also notice green buttons on the right hand side just below the iphone/ipad app button (you can click that to download the search app and search on the go). The green buttons direct you to things like "Area Foreclosures." You can select your specific search criteria for foreclosures once you click the button and are directed to the next screen. The user has so many tools at his/her disposal on the site that you can also create an account and save properties to check back on later, show to your husband/wife, or compare properties. The account is obligation free, and you have a password protected area where you can view the properties that you like. You can also opt in for daily updates for new properties coming on the market that match your criteria. Like I said, it does everything!!! If you have specific questions, please just call the office, and we'll get you going in the right direction. At the top of the site, the tabs will take you to featured properties for the region, including rent/lease opportunities. We're really excited- can you tell?!
And, as a reminder of who we are... We are an award-winning full-service real estate comany. We are the only one of our kind in the Appalachian Mountain region of the Southeast and serve individuals, corporations, and investors with a residential and commercial real estate purchase and sales brokerage, site analysis and selection services, property management services, and construction/remodeling services. So, please don't hesitate to contact us for any of these needs. We're happy to oblige!
Sunday, March 27, 2011
Focus on Regionalism Key to Success
Washington County Mayor Dan Eldridge was elected the newest chair of the Regional Alliance for Economic Development at its annual meeting Friday, where he told members his role will be one of reviving and refocusing the struggling organization.
Eldridge was among a team of mayors that will now fill the leadership roles at the Alliance. Sullivan County Mayor Steve Godsey will serve as vice chair, Kingsport Mayor Dennis Phillips as treasurer and Patrick Wilson, executive director of the Tri-Cities Regional Airport, will be secretary.
“The opportunity today is to bring in the public sector, but we also look forward to private sector support continuing,” Eldridge said. “The Regional Alliance is a vehicle with which we can learn to compete and win as a region.”
The organization, founded in 2005 by some of the region’s most powerful private-sector players, was previously led by Newt Raff, the market president for First Tennessee Bank. But as Raff said in late 2010, the alliance would be handing over the reins to the public sector at the end of his reign to try a different approach to regional economic development.
“When contemplating the future of the alliance, we decided we needed to make changes,” Raff said Friday. “We believe this new panel can take this forward.”
Officials are hoping the public-led approach (which still does involve plenty of support, financial and otherwise, from the private sector) will mesh more easily with Gov. Bill Haslam’s and the new administration’s approach to economic development. Members are also envisioning the organization will play less of a business recruitment role and instead serve as a marketing draw for the entire region, an approach heralded and practiced by the meeting’s two guest speakers.
Ronnie Bryant, president and CEO of the Charlotte Regional Partnership, called himself an “unapologetic regionalist” and urged those gathered to see past the county, city and state lines that divide the region.
“You need to rethink the notion of competition. If you think winning is stealing jobs or companies from other cities and counties, it’s not. That’s just like reshuffling the chairs on the deck of the Titanic,” he said. “You don’t need a Charlotte. You need collaboration.”
All site selection by companies starts at a regional level, while deals are won at a local level, Bryant said. To that end, all parties with economic development in mind should be pooling their resources to “get more bang for their buck” when it comes to marketing the region.
Once a company shows interest in a region, it is then up to the specific locations to vie for the deal, according to Barry Matherly, the executive director of the private, nonprofit Lincoln Economic Development Association. He outlined one advantage a location can have: He told the Alliance members that 90 percent of the companies that visit his county want to see buildings in the prospective sites they are touring.
“The hook is the building,” he said. “It’s hard to drive by a cow pasture and have someone believe it’s a good opportunity when it looks like you don’t believe in it.”
In Lincoln County, all prospective business parks are outfitted with road, water service and other infrastructure from day one, he said, and spec buildings often follow quickly.
“Pad-ready” sites like Lincoln County’s are what the region is missing, Eldridge said, but it’s a task he thinks the Alliance is ready to conquer this time around.
“We have, and I have been one of them, often complained that Northeast Tennessee doesn’t get its fair share,” he said. “Today is the opportunity to change that.”
Cory Lewis, President of T. C. Lewis & Co. said that the most important thing to take from the meeting was a quote from Ronnie. "It's the most important thing that I heard today. He said that we need to rethink the notion of competition. When we're trying to attract businesses, we need to work as one - the Northeast Tennessee region. We have to get these folks to the table before each county and city can compete for them. We would rather have a business located in the next county rather than the next state or two states over."
Eldridge was among a team of mayors that will now fill the leadership roles at the Alliance. Sullivan County Mayor Steve Godsey will serve as vice chair, Kingsport Mayor Dennis Phillips as treasurer and Patrick Wilson, executive director of the Tri-Cities Regional Airport, will be secretary.
“The opportunity today is to bring in the public sector, but we also look forward to private sector support continuing,” Eldridge said. “The Regional Alliance is a vehicle with which we can learn to compete and win as a region.”
The organization, founded in 2005 by some of the region’s most powerful private-sector players, was previously led by Newt Raff, the market president for First Tennessee Bank. But as Raff said in late 2010, the alliance would be handing over the reins to the public sector at the end of his reign to try a different approach to regional economic development.
“When contemplating the future of the alliance, we decided we needed to make changes,” Raff said Friday. “We believe this new panel can take this forward.”
Officials are hoping the public-led approach (which still does involve plenty of support, financial and otherwise, from the private sector) will mesh more easily with Gov. Bill Haslam’s and the new administration’s approach to economic development. Members are also envisioning the organization will play less of a business recruitment role and instead serve as a marketing draw for the entire region, an approach heralded and practiced by the meeting’s two guest speakers.
Ronnie Bryant, president and CEO of the Charlotte Regional Partnership, called himself an “unapologetic regionalist” and urged those gathered to see past the county, city and state lines that divide the region.
“You need to rethink the notion of competition. If you think winning is stealing jobs or companies from other cities and counties, it’s not. That’s just like reshuffling the chairs on the deck of the Titanic,” he said. “You don’t need a Charlotte. You need collaboration.”
All site selection by companies starts at a regional level, while deals are won at a local level, Bryant said. To that end, all parties with economic development in mind should be pooling their resources to “get more bang for their buck” when it comes to marketing the region.
Once a company shows interest in a region, it is then up to the specific locations to vie for the deal, according to Barry Matherly, the executive director of the private, nonprofit Lincoln Economic Development Association. He outlined one advantage a location can have: He told the Alliance members that 90 percent of the companies that visit his county want to see buildings in the prospective sites they are touring.
“The hook is the building,” he said. “It’s hard to drive by a cow pasture and have someone believe it’s a good opportunity when it looks like you don’t believe in it.”
In Lincoln County, all prospective business parks are outfitted with road, water service and other infrastructure from day one, he said, and spec buildings often follow quickly.
“Pad-ready” sites like Lincoln County’s are what the region is missing, Eldridge said, but it’s a task he thinks the Alliance is ready to conquer this time around.
“We have, and I have been one of them, often complained that Northeast Tennessee doesn’t get its fair share,” he said. “Today is the opportunity to change that.”
Cory Lewis, President of T. C. Lewis & Co. said that the most important thing to take from the meeting was a quote from Ronnie. "It's the most important thing that I heard today. He said that we need to rethink the notion of competition. When we're trying to attract businesses, we need to work as one - the Northeast Tennessee region. We have to get these folks to the table before each county and city can compete for them. We would rather have a business located in the next county rather than the next state or two states over."
Thursday, February 24, 2011
Young Professionals Tri-Cities (YPTri)
Wednesday, January 26, 2011
Tri-Cities Area Jobs Rebounding
In case you missed this article in the Johnson City Press, I thought I would use it as my blog entry for this month. This is good news for the Tri-Cities!
With two consecutive quarters of employment growth, the Tri-Cities is leading the national recovery from the recession, according to a report distributed by local economist Steb Hipple.
In 2010’s third quarter, Tri-Cities metro area employment expanded by more than 5,900 jobs as compared to the same period in 2009, a 2.7 percent increase. In the second quarter, the area saw a gain of more than 800 jobs in year-over-year figures, a 0.5 percent increase.
To see the Tri-Cities leading the recovery “was not the expectation, as we lagged the national economy going into the recession,” said Hipple, who authors a quarterly labor market report for the East Tennessee State University Bureau of Business and Economic Research. “When the national recession began in 2008, labor market conditions here remained pretty good. In 2009, we started to see a downturn in employment, and when it happened, we got two years of decline in one year.”
But the Tri-Cities has bounced back “dramatically,” restoring more than half of the almost 14,400 jobs lost in 2009, Hipple said. At the end of 2008, regional employment neared its highest levels at 232,851 jobs. By the first quarter of 2010, 218,531 jobs remained. The most recent third quarter numbers show a recovery to 228,407 jobs.
In 2010, more than 6,000 jobs were added in the second quarter from first quarter figures. From the second quarter to the third, there was a gain of more than 3,400 jobs. Most of the job growth occurred in the government, and education and health sectors, with smaller gains in retail trade, leisure and hospitality, and wholesale trade. The manufacturing, transport and utilities, finance and construction industries continued to cut jobs, according to the report.
Almost 2,400 fewer people in the region are out of work than at the same time last year. Over the July to September period, the unemployment rate for the Tri-Cities area was 8.6 percent, compared to 9.7 percent a year ago, and all three cities saw employment gains in line with regional trends. On a year-to-year basis, employment gains were 3.4 percent in Johnson City, 3.3 percent in Kingsport, and 2.1 percent in Bristol. The rate of unemployment was 8.8 percent in Bristol, 8.6 percent in Johnson City, and 8.1 percent in Kingsport (compared to 9.6 percent in all three cities in the same period in 2009).
“We’re one of the parts of the U.S. leading the economy, and that’s good,” Hipple said.
But according to the report, “the problem is that ultimately the slow recovery in the nation could have a negative impact on business conditions in the Tri-Cities area.”
Though the national labor market finally began to show signs of recovery in the third quarter with lower unemployment and a smaller rate of job loss, it lacks one key element to recovery.
“Most national economic indicators are pointing in the right direction: production is increasing, consumer spending is higher, retail activity is reviving, the stock market is higher, and unemployment is falling. The missing element is job creation – strong job creation. And significant job growth is not in the short-run economic outlook,” the report said. “So the business outlook is for continued low growth in output, minimum job creation, and lingering high unemployment.”
For jobs, the “critical number” to watch will be the real gross domestic product growth rate, Hipple said, which needs to increase at an annual rate of more than 3 percent to create enough new jobs to account for both new workers and for the out-of-work existing labor force. The most recent data shows real GDP increasing at only a 2 percent rate, and the problem is getting the figure to grow faster, he said.
While the fiscal policy stimulus of $800 billion seems to have helped, Hipple said, the current political climate makes a second stimulus unlikely. Instead, the Federal Reserve has enacted a second round of monetary policy changes. Previously, the Fed dropped short term interest rates to almost zero, and simultaneously expanded the liquidity of the banking system by over $1,200 billion, which was called quantitative easing, the report said. Between now and next summer the Fed plans to expand liquidity in the banking system by another $600 billion (quantitative easing round two, or QE2).
“Changes in monetary policy, whether it’s tight money or easy money, have a delay before they work their way into the economy,” said Hipple, who estimates it will be 12-18 months before QE2 has an effect. “It will help, but it won’t kick in short term. For short term, you need a fiscal stimulus. Because of the political climate, the only part of the government now in a position to provide a stimulus is banking. It’s the weakest way and it will take longer.”
By: Kate Prahlad
Johnson City Press Business Writer
With two consecutive quarters of employment growth, the Tri-Cities is leading the national recovery from the recession, according to a report distributed by local economist Steb Hipple.
In 2010’s third quarter, Tri-Cities metro area employment expanded by more than 5,900 jobs as compared to the same period in 2009, a 2.7 percent increase. In the second quarter, the area saw a gain of more than 800 jobs in year-over-year figures, a 0.5 percent increase.
To see the Tri-Cities leading the recovery “was not the expectation, as we lagged the national economy going into the recession,” said Hipple, who authors a quarterly labor market report for the East Tennessee State University Bureau of Business and Economic Research. “When the national recession began in 2008, labor market conditions here remained pretty good. In 2009, we started to see a downturn in employment, and when it happened, we got two years of decline in one year.”
But the Tri-Cities has bounced back “dramatically,” restoring more than half of the almost 14,400 jobs lost in 2009, Hipple said. At the end of 2008, regional employment neared its highest levels at 232,851 jobs. By the first quarter of 2010, 218,531 jobs remained. The most recent third quarter numbers show a recovery to 228,407 jobs.
In 2010, more than 6,000 jobs were added in the second quarter from first quarter figures. From the second quarter to the third, there was a gain of more than 3,400 jobs. Most of the job growth occurred in the government, and education and health sectors, with smaller gains in retail trade, leisure and hospitality, and wholesale trade. The manufacturing, transport and utilities, finance and construction industries continued to cut jobs, according to the report.
Almost 2,400 fewer people in the region are out of work than at the same time last year. Over the July to September period, the unemployment rate for the Tri-Cities area was 8.6 percent, compared to 9.7 percent a year ago, and all three cities saw employment gains in line with regional trends. On a year-to-year basis, employment gains were 3.4 percent in Johnson City, 3.3 percent in Kingsport, and 2.1 percent in Bristol. The rate of unemployment was 8.8 percent in Bristol, 8.6 percent in Johnson City, and 8.1 percent in Kingsport (compared to 9.6 percent in all three cities in the same period in 2009).
“We’re one of the parts of the U.S. leading the economy, and that’s good,” Hipple said.
But according to the report, “the problem is that ultimately the slow recovery in the nation could have a negative impact on business conditions in the Tri-Cities area.”
Though the national labor market finally began to show signs of recovery in the third quarter with lower unemployment and a smaller rate of job loss, it lacks one key element to recovery.
“Most national economic indicators are pointing in the right direction: production is increasing, consumer spending is higher, retail activity is reviving, the stock market is higher, and unemployment is falling. The missing element is job creation – strong job creation. And significant job growth is not in the short-run economic outlook,” the report said. “So the business outlook is for continued low growth in output, minimum job creation, and lingering high unemployment.”
For jobs, the “critical number” to watch will be the real gross domestic product growth rate, Hipple said, which needs to increase at an annual rate of more than 3 percent to create enough new jobs to account for both new workers and for the out-of-work existing labor force. The most recent data shows real GDP increasing at only a 2 percent rate, and the problem is getting the figure to grow faster, he said.
While the fiscal policy stimulus of $800 billion seems to have helped, Hipple said, the current political climate makes a second stimulus unlikely. Instead, the Federal Reserve has enacted a second round of monetary policy changes. Previously, the Fed dropped short term interest rates to almost zero, and simultaneously expanded the liquidity of the banking system by over $1,200 billion, which was called quantitative easing, the report said. Between now and next summer the Fed plans to expand liquidity in the banking system by another $600 billion (quantitative easing round two, or QE2).
“Changes in monetary policy, whether it’s tight money or easy money, have a delay before they work their way into the economy,” said Hipple, who estimates it will be 12-18 months before QE2 has an effect. “It will help, but it won’t kick in short term. For short term, you need a fiscal stimulus. Because of the political climate, the only part of the government now in a position to provide a stimulus is banking. It’s the weakest way and it will take longer.”
By: Kate Prahlad
Johnson City Press Business Writer
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