Downsizing Trend on the Rise in North Texas

A downsizing trend in North Texas as well as nationwide is taking hold when it comes to real estate.

A recent survey put together by Trulia.com shows home premiums on houses between 3,000 and 5,000 square feet steadily declined since 2012. Some buyers are choosing to avoid mass produced homes between 3, 000 and 5,000 square feet. Industry insiders are seeing a swing toward smaller more affordable homes with less overhead and cost than associated with a large oversized house.

Traditional families are leaning towards townhomes, condos, and smaller single family homes. Most of which are under 3000 square feet.

Tarrant County has a wealth of these wonderful smaller properties for sale especially in the Historic Fairmount District, Arlington Heights, Mistletoe Heights, and around the TCU / Westcliff neighborhoods. The ability to blend the craftsmanship of the old through original flooring and unique architectural features with conveniences of modern technology and upgraded appliances make these neighborhoods some of the most sought after places in Fort Worth. This is good news for sellers and buyers in our marketplace.

As a Historic Home Specialist and an expert in these neighborhoods, I am well equipped to show you the potential of their older homes as a great opportunity if you are in the market to downsize. From north to south, give me a call or shoot me an email and I’ll share my favorites!

Red Team News: The 7 Rules of Selecting a Property Manager sneak peek

Are you a current property owner who wants to ensure you’re getting the best return on your investment?

Red Team Real Estate is proud to announce that our very own Michael Mayes is publishing his first book, The 7 Guides When Selecting a Property Management Company. Set to debut in 2016, this book goes far beyond simply selecting a property manager. Inside you will find a wealth of information, tips and secrets that all current and would-be investors should know. Ready for more? Here’s a sneak peek of one of the topics Michael will cover:

Owners Technology

In today’s market it only makes sense to have technology working for you. Any Property Management Company worth their weight in salt will be giving your properties the leverage they deserve by using technological tools that will nourish a successful investment.

Show me the money!
Collecting rent shouldn’t be a hassle. If you’re still going door-to-door, or only accepting cash and check payments, you’re doing too much work. Every Property Manager needs to invest in technology that will allow tenants to pay in whatever manner is convenient for them. And remember, the rent you receive must be reported on your taxes, and the right software will keep detailed records of all payments. This includes monthly owner statements, cash flow reports and other information that owners need to confirm your “Rental Business” is working.

Welcome to the Inter-Web...
One of the latest and most effective tools for potential tenants and property managers to showcase their properties is online and through social media outlets. 87% of electronic device sales will be tablets and smartphones...which means property owners (or their managers) will need to accommodate this new generation of prospects and applicants with mobile online leasing tools. Investing in mobile online leasing tools allows potential tenants to do the whole application process online and saves you a heap of a paper mess!

There are only 168 hours in a week and your Property Manager should be working smart and using them wisely! Owning real estate is a business and should be treated as such. Just because someone agrees to collect the renter’s check, does not ensure they are looking out for you best interest…

The 7 Guides When Selecting a Property Management Company, coming soon in 2016!

Winning. Clients.

Red Team Real Estate and Property Management
Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.

Ask the Expert: How can I best utilize my rental income for better, long term investing?

Answer: 

This month I told you about the 3 Simple Rules for a Profitable Purchase. {Click Here to View}. To supplement these simple steps, for a long and profitable investment, you should plan on setting aside a portion of your gross rental income for a “rainy day”. 

Every situation is different, seek advice on what number might be best for you. This includes regular maintenance, repairs and the downtime of vacancies. 

Have a question?  Let us help!  Click here to submit your question.

Educating for REAL Greatness,

Red Team Real Estate and Property Management

Red Team Real Estate and Property Management was started in 2012 to focus on being the provider of quality service that has never been seen before in property management. Our approach is to serve our owners by providing professional, knowledgeable service with maximum value.