Before the storm:

• Assemble a kit of essentials, like battery-operated flashlights and radios. Keep a list of emergency phone numbers that includes the electric utility. Be prepared for the possibility of a prolonged outage due to power line and electric equipment damage.
• Fill spare containers with water for washing, and keep a supply of bottled drinking water on hand. Maintain a supply of non-perishable food items, along with a hand opener for canned food.
• During an outage, switch off lights and appliances to prevent overloading circuits and damaging appliances when power is restored. Leave one lamp or switch on as a signal for when your power returns.
• Be sure to tune into your local weather station if you suspect severe weather is brewing. Understand the National Weather Service warning classification system. A tornado or severe storm watch means that conditions are favorable for those weather conditions forming. A warning means that dangerous weather conditions are developing and imminent.
• Consider having Ground Fault Circuit Interrupters (GFCIs) professionally installed or purchasing a portable GFCI. GFCIs can cut off power if there is a problem and are recommended for outdoor outlets and areas of the home that are prone to water exposure such as basements, bathrooms, kitchens, laundry rooms, etc.
• Lightning can travel up to ten miles away from a storm, so seek shelter as soon as you hear thunder.

After the storm:

• When venturing outside after a severe storm, stay away from downed power lines and be alert to the possibility that tree limbs or debris may hide an electrical hazard. Assume that any dangling wires you encounter are electrical, and treat all downed or hanging power lines as if they are energized. Warn others to stay away and contact the electric utility.
• If you are driving and come upon a downed power line, stay in your vehicle, warn others to stay away and contact emergency personnel or electric utility. Also when driving, be careful at intersections where traffic lights may be out. Stop at all railroad crossings, and treat road intersections with traffic signals as a four-way stop before proceeding with caution.
• Before re-entering storm-damaged buildings or rooms, be sure all electric and gas services are turned off. Never attempt to turn off power at the breaker box if you must stand in water to do so. If you can’t reach your breaker box safely, call your electric utility to shut off power at the meter.
• Never step into a flooded basement or other area if water is covering electrical outlets, appliances or cords. Be alert to any electrical equipment that could be energized and in contact with water. Never touch electrical appliances, cords or wires while you are wet or standing in water.
• Cleaning up and using water-damaged appliances also carry safety risks. Electric motors in appliances that have been drenched or submerged should be thoroughly cleaned and reconditioned before they are put back into service. It may be necessary to repair or replace electrical appliances or tools that have been in contact with water. Do not use any water-damaged appliance until a professional has checked it out.
• When using a generator, follow all manufacturers’ recommendations to avoid tragedy. Keep the generator dry and never plug it into a wall outlet or directly into the home’s wiring. This could inadvertently energize the utility lines and injure yourself or others working to restore power.

(Source: Safeelectricity.org)

If I am planning a vacation, where I lay my head is VERY important to me since I require an overly clean and comfortable room with nice people to check me in at an affordable price.  I rely on others experiences to let me know if I am getting a good deal and if I will walk away happy.   I do my research which is probably why my family never knows where they are going to be staying until we actually check-in.  At any rate, the things I am looking for when considering an online review are this:

• When was the review written?  If an unhappy customer wrote something in 2005 about the stormy night the power went out, then I will dismiss it. If an unhappy customer wrote a negative review last week, then I will pay a little bit more attention.
• How valid is the actual content? If you were angry enough to go out there and write your feelings down for all the world to see, please articulate what it is that made you upset.  Things like “worst place ever, do not stay there” are completely not useful to me.  Why is it the worst place ever and why should I not stay there?  No explanation to your random rating and review just makes you a bitter person in my book.
• Are there good reviews? I wasn’t born yesterday; I can tell when a place pads their online reviews.   Too many good reviews are not sincere to me. Let’s face it, we are stressed out humans and honestly,  if I am made blissfully happy, I am content and  I am not going to leave my happy place to write a Google review during or even after my experience and I don’t think I am alone here.  Consider no news from me, good news for your business.  However, disgruntle me and…..
• Did the company resolve the conflict? If the manager responds to all of the reviews to at least offer their side of the story or even thank those (that are more considerate than me) who give a glowing review, it says a lot about that business.  It means they are willing to learn from their customers and not get stuck in the old saying, “well, that’s how we’ve always done business.”  Customers will change and businesses need to adapt to these changes, even if that means responding to reviews that don’t make any sense.  It definitely makes the people working there human beings with actual feelings.

People can get pretty mean out there on the internet.  It is the perfect place to vent with very little consequence.  Make sure you are willing to read through both the good and the bad or better yet, just give them a call.  A “live” person will beat an anonymous internet review any day.

Central air conditioning units have a part that is called an evaporator. The evaporator’s job is to absorb heat from the inside of our home and relies on the condenser to reject the heat coming from outside. This is how we get that nice cold air. If the evaporator’s coils are dirty, that dirt or dust will act as insulation around the coil and will essentially prevent the evaporator from doing its job. There is also a part on the air conditioner called a compressor. Damage to the compressor, due to poor maintenance, is very bad and very expensive to repair. Simply put, change your air filters. They will prevent all this bad stuff from happening and will keep you nice and cool all summer long. Here is a tip: every time you pay your power bill, replace your air filter.

According to the EPA, most people spend about 90% of their time indoors and your indoor air quality is actually more polluted than the outdoor air quality. There are many different options for air filters out there and they come at many different price levels. For me, I have a $20 air filter that filters everything from dust mites, pollen, pet hair, mold spores and viruses. However, our maintenance techs recommend that your purchase the thinnest, cheapest air filter you can find and just change it monthly. The reason is that the more expensive, longer lasting filters can sometimes be too thick and  actually prevent proper air flow, which in turn, will leave your home warmer. If you need to get rid of other pollutants such as pollen and mold, consider purchasing an air purifier instead of an expensive filter.

Remember, your A/C unit is your most valuable appliance during the hot days of summer. With a little extra attention, you will stay cool and hopefully save a little money before the end of the summer.

Stay Cool!!!

Three property managers at T.R. Lawing have earned the highest designation available from the Institute of Real Estate Management (IREM^®).  The Certified Property Manager (CPM^®) title was conferred upon Brenda Armstrong, Sallie Myrick and Kori Wing last month at a local IREM meeting.

 The CPM is recognized as the highest level of coursework for real estate managers, making its honorees experts on all aspects of property management including industry trends and issues. They must meet stringent standards in the areas of education, examination, management plan, ethics and experience. 

It is the only real estate management credential covering all asset classes: residential, commercial, retail, and industrial.  

 “What makes the CPM coursework so demanding is that the students are learning asset management, rather than just facilities management,” explains Nellie Donovan, Marketing Analysis Manager, Institute of Real Estate Management.

 “It is extremely comprehensive on the financial side, and our members are held to a code of ethics, so when a property manager earns their CPM, their clients can be sure the property managers they are working with are the very best in the business,” she adds.

 There are an estimated 350,000 property managers in the Unites States according to The Bureau of Labor Statistics. Of these a mere 2% or 7,500 have earned the CPM designation.

The CPM imparts the recipient with credibility, respect, and industry recognition.  Approximately 70% of those who earn the CPM designation hold the highest management positions over those without the designation.  

T.R. Lawing’s new CPMs are:

Brenda Armstrong, a Realtor®/Broker with more than 12 years of experience in real estate sales and property management. She is the Property Manager & Broker in Charge of the Birkdale/Lake Norman office for T.R. Lawing Realty, Inc.  Since joining the company in February 2005, she has been an active volunteer and has served in vital leadership roles with the Charlotte Regional Realtor Association and the Housing Opportunity Foundation. Brenda is a graduate of the Foundation’s Workforce Housing Certificate Program and the association’s 2007 Leadership Development Program.  She carries GRI (Graduate Realtors Institute) and SFR (Short Sale and Foreclosure Resource) designations. 

Sallie Myrick has been a professional residential property manager with T.R. Lawing Realty for six years and has managed single family, multifamily complexes and condominium associations for more than ten years in the Charlotte market. She currently holds North Carolina and South Carolina Real Estate Broker licenses. Professional designations include membership in local, state and the national Realtor Associations and holder of the e-PRO designation awarded by the National Association of Realtors.

Kori Wing started her real estate career as a sales agent specializing in equestrian estates and land in the Charlotte Metro area. After two years as a salesperson, Wing joined TR Lawing Realty, Inc. and has been with the company for more than six years. Her current portfolio consists of a variety of single family homes, condominiums, and office condominium associations in the Charlotte area.  Wing said the CPM classes offered her the opportunity to speak with a number of property manager from across the country. “I realized how fortunate we are in Charlotte.  We still have companies moving into and thriving in the area, which makes our rental portfolio remain strong.” 

T.R. Lawing Realty is a full service property management company, based in Charlotte, N.C., serving Mecklenburg and the surrounding counties.  A family-owned company, T.R. Lawing has specialized in managing and leasing rental homes in Charlotte and beyond for more than 50 years.  The company serves individual owners and renters from its Charlotte offices in Elizabeth, Birkdale/Lake Norman and Providence/485.  To learn more, go to: www.trlawing.com.    

Peggy Malabuyoc, Sallie Myrick, Dottie Ciarrocchi and Carpenter, David Helms

On April 20, 2012, area Realtors® from the Charlotte area gathered and assisted 23 area families with exterior home repairs and safety modifications during the 2012 Realtors® Care Day. 

T. R. Lawing has been a proud sponsor of Realtors® Care Day and this year was no exception.  Thank you to our Realtors® who gave a day of their time to help so many:  Brenda Armstrong, Joe Rempson, Kori Wing, Peggy Malabuyoc, Dottie Ciarrocchi, Ted Gantt, Sallie Myrick, and David Helms – Carpenter.

In Myer’s Park, regarded as the most confusing intersection in town is the Queens Road/Queens Road and Providence Road/Providence Road intersection. Here is how it works: You are traveling uptown (not downtown, we go up) on Providence Road and you wish to continue on Providence Road (which will eventually turn into 3rd Street and it is NC Hwy 16 – but that’s another story), you must turn right onto Providence Road instead of going straight through the intersection which will become Queens Road. Got it? Ok, I will try a different direction. If you are traveling uptown on Queens Road, you must turn left to continue on Queens Road and then before it has a chance to turn into Morehead you must turn right on Queens Road but that will end when it turns into Hawthorne Lane. No wonder we all crash into each other in the morning.

Another great intersection is Sardis Road and Sardis Road. Traveling into town on Sardis Rd, you must turn left onto Sardis Road but that only half of the story, Sardis Road is also part of a long stretch of road that comes in from Mint Hill known as Idlewild/Rama/Sardis/Fairview/Tyvola Road. Seriously, I am not making this up!

Here’s the deal. A few years back (that’s southern for I have no idea how long ago) a lot of historic roads had to be spliced together to make major arteries and thoroughfares in Charlotte due to all the growth in the area. Once city planners began to reconfigure the roads to make long continuous arteries they decided to retain the original names when possible so as not to lose the historical aspect (this is why you see so many names a long stretch of road). At one time those were all individual communities and not part of the greater city of Charlotte when Charlotte’s city limits ended at about the South Park Mall area.

So there you have it folks! The next time you get some silly directions like, “OK just take Eastway until it becomes Wendover and just stay straight on Sharon which will then become Quail Hollow…”, know that you are not going crazy; we just planned it that way.

Happy driving everyone!

Do I have your confidence?   Will I have your wallet next?

Every day, thousands of folks just like you and me are scammed out of their hard-earned money.  Who will be next?

I have often wondered how wealthy, educated investors could lose their multi-million dollar fortunes to Bernard Madoff,  Kenneth Lay or Charles Ponzi.    Were the victims simply negligent or lazy or careless?    No, they were just like you and me.    Most of them worked a lifetime to accumulate their nest eggs and they rarely made frivolous, childish, embarrassing financial mistakes.   Were they any different from you and me?   I doubt it.

As a nation of adults, I’m afraid we have not learned much.

As the National Association of Realtors® recently reminded its members, “Americans continue to fall prey to a growing number of real estate scams” and, in many cases, the internet, Craigslist and online public records are simply making the job of the scammer easier.

Rental scams are becoming more prevalent every day.   A very common version in our area involves posting an almost-identical copy of a legitimate ad with only cheaper rental rate and e-mail contact info.   When an excited prospect notices the great price on a great house and sends an email through the reposted ad, he receives a response from someone claiming to be the owner who, generally, is “overseas doing mission work.”   If the victim is interested in renting the “missionary’s” house, he is asked to send money to the owner in the foreign country.   Of course, the “missionary” will pocket the money long before his lack of ownership is realized.

Another rental scam involves a bogus rental prospect who contacts the legitimate owner or property manager through email.   The terms and conditions are agreed to and the scammer gladly forwards a check for the security deposit, often drawn on a bank in another country which may or may be questioned by the owner or his agent.  The check may or may not be written in excess of the amount required but, without fail, the “prospect” will soon ask for part or all of his money back and certainly before signing a lease.    Believing the prospect’s check has cleared; a refund is overnighted and cashed well in advance of the prospect’s counterfeit check being returned by the bank.

In some cases, a would-be renter can actually view a property escorted by the “landlord” and still get burnt.    In these scams, unoccupied foreclosed homes are the bait.   Knowing the trustee’s sale date is still several weeks away, the criminal breaks into the house, changes the locks and starts advertising the home on free online classified sites, generally at a very favorable price.   The unknowing victim pays the security deposit and first month’s rent and, sadly, may actually moves his family into the house before a bank representative knocks on the door during a routine inspection.   The tenant has no legal claim and very few ways to recover his money.

Finally, real estate commissions, attorney generals and Better Business Bureaus are reporting a significant jump in loan modification and foreclosure “rescue” scams.  Delinquent home owners are almost always worried, scared and stressed out which are always ideal conditions for modern con artists.    If the deal sounds too good to be true; if new loan documents are involved; or if upfront fees are requested to stop a foreclosure, be very skeptical.   Call the local Better Business Bureau or search for the same vacant home elsewhere on the internet or independently verify the trustworthiness of whomever you are talking with or do all three.

The hard-earned nest egg you save may be your own.

A legend is defined as someone that inspires legend or achieves legendary fame.  It is derived from the Latin word, legenda, which means “for reading or to be read.”  A legend is a story that is told from generation to generation.  Dick Clark definitely fits that description because his “story” has been lived out on our nation’s TV screens since 1956.  He showed our nation what music to listen to and how to dance to them; and we always had something to do on New Year’s Eve.  He became a media mogul whose influence can still be seen today in shows like American Idol or So You Think You Can Dance.  I am not even sure that we would be gathering around our TV sets on Monday nights to watch celebrities try to ballroom dance if it hadn’t been for a simple, local TV show with impeccable timing in 1952. As Baby Boomers were entering their teen years and TV & Rock-n-Roll were brand new, American Bandstand began what would be a 37 year run and have a major impact on music, dance and the lifestyles of teenagers around the country.  Even today, listening to Barry Manilow’s rendition of Bandstand Boogie makes me smile and remember simpler times when the weight and worries of adulthood were unknown.   So, do we define Dick Clark as simply a legend?

After I broke the news to some co-workers of Dick Clark’s death, one of my younger co-workers said, “Dick Clark was the Ryan Seacrest of his time.”  Obviously, this created a reaction because Dick Clark IS why people like Ryan Seacrest and Carson Daly are who they are today and they would even admit the impact he had on their careers and lives.  Last night, Ryan Seacrest called Dick Clark his idol growing up as a child.  He studied him and wanted to do just what he did when he grew up.  Not only did he do that, but Ryan had the pleasure of working with Dick Clark on New Year’s Eve for the past 6 years.  Ryan Seacrest stated that there was “nobody like Dick Clark” and I suspect there never truly will be.  So again, is Dick Clark a legend or is he an icon of 20^th Century America?

An icon is defined as someone or something that represents something specifically.  For example, Elvis Pressley is the “King of Rock-n-Roll” and Michael Jackson is the “King of Pop”.  Both have passed away and though grammatically I really should use the word “was”, even in death they are undeniably icons for their influence in their respective music genres.  Elvis will always symbolize rock-n-roll and cementing it into our musical culture. He didn’t come up with it, but he did explode its popularity.  The same could be said for Michael Jackson and pop music.  So is Dick Clark the “King of Media?”

I suspect the debate between TV legend and TV icon will continue in the days to come, but for me the man who influenced multi-generations and inspired a nation with his youthful good looks and enthusiasm, earning him the title of “America’s Oldest Teenager”, Dick Clark will always be an icon in the storyboard of my childhood and maybe even life.

Dick Clark, you always had a good beat and you were always easy to dance to.  I give you a 98!

The 4 Container Method

Using 4 large containers, put them into the following 4 categories:

• Trash – Be honest, you have no idea how to repair whatever it is you broke 6 months ago. You have gone this long without it, you don’t need it and you can’t sell it, so THROW IT AWAY!!!! You will be surprised how much trash we actually keep in our homes. Trust me, you will feel liberated.
• Give Away or Sell – By combining these two categories together, you can be a bit more discerning about what you give away to charity. If you can’t sell, don’t donate it.  Also, if you choose to hold a yard sale, your charitable donation can go way beyond Goodwill or The Salvation Army. You know you have wanted to give money to those sad little dogs and cats on TV. A yard sale is a great way to raise some money for your special cause.
• Store – Really! It’s time to put those Christmas decorations away. Anything that you only use seasonally should be stored in well-marked containers that you can easily access and put away without ripping your attic apart.
• Keep - This container should have the least amount of things at the end of your Spring Cleaning. If not, please refer to the three other categories again, because you didn’t do it right. Keep only the things that you use on a regular basis and make sure that it has place in your home where it can be properly stored. It is not allowed back on the kitchen counter again.

Happy cleaning everyone!!!

But, according to the U.S. Census Bureau, homeownership in America dropped three percent in just the last seven years and rent is the new reality for both former homeowners and new households alike.  Currently at sixty-six percent, how much lower will America’s homeownership rate fall?

Curiously, mortgage rates are at all-time lows while inventories are at all-time highs.   Home prices are at record lows and mortgage interest remains deductible while rental rates are climbing and have never been deductible.   A prudent shopper might easily conclude that it is a great time to buy a home yet, according to Reis, Inc., the apartment sector saw its largest quarterly increase in occupied stock of the year in the last quarter of 2011. 

Is American becoming a renter nation?   The short answer is “Yes” but a more difficult question is why and is this a short-term or long-term change.

For at least the 20^th century, Americans operated on the belief that owning one’s home is better than renting it but careful analysis shows our collective belief is correct only under certain parameters.  For instance, if a tenant reinvests his or her cash savings (i.e., mortgage payment less rent and down payment), then the tenant will usually have a larger portfolio balance in less than a decade than an owner, as recently published by Bercaha and Johnson.

However, if the “reinvestment requirement” is dropped and the tenant simply spends his or her savings on consumption – which is definitely the more realistic assumption – then owning a home usually produces more net worth than renting one. 

In other words, it is not property appreciation which creates wealth today; it is the fact that home ownership is a self-imposed savings plan.

Another explanation for the recent drop in homeownership rates may simply be that the pendulum is seeking equilibrium.   Home ownership rates are never static although the rate for my grandfather’s generation stayed around forty percent for much of the first half of the 20^th century.  History indicates that aggressive subsidy programs administered by FHA, VA, Fannie Mae, Freddie Mac and others drove the ownership rate to more than sixty-five percent for the World War II generation and baby boomers who followed. 

Each generation makes its own housing decisions based on the world in which it exists and today’s millennials (born 1980 to 1995) live in a much different world than their parents or grandparents did.

For instance, changes in America’s workplaces and employment practices over the last twenty years have drastically altered how we view housing today.

Millennials have lived through the horror of their parents facing foreclosure or, at best, losing a lifetime of unreplaceable equity.  Hundreds of thousands of baby boomers have openly and vocally longed for more flexibility in their housing arrangements when their factory downsized or relocated.   And, with foreclosure notices posted on neighbor’s doors and talk show features about a “shadow inventory” and short sales, there remains a widely-held opinion that home prices have not hit bottom end.   Would you buy your first home in such a world?

Even with low mortgage rates and deductibility of mortgage interest, many of today’s prudent shoppers are convinced that renting is a much better choice today than owning.   In fact, many experts feel today’s disposition toward renting is likely to persist for at least a decade if not for a generation.  Others talk of long-term homeownership rate in America of fifty-five to sixty percent instead of today’s mid- to high-sixties.

But, as Chuck Swindoll preaches, “Opportunities are often disguised as impossible situations.”   Whether well founded or completely irrational, today’s bias for renting is creating opportunities for today’s savvy investors.

The rental market is on a tear and individuals are buying properties at deep discounts every day and then renting them to others for handsome returns. 

In our portfolio, rental occupancy tightens a little more every day which means the creditworthiness requirements for the applicant pool tightens every day too.  Today’s new tenant is one of the most qualified and most educated that we have ever worked with.

With nationally recognized employers bring new well-paying jobs for white-collar contractors into our area regularly, the demand for rental housing here can only get better.

The “New Normal” in real estate is rental housing.