The Texas Association of Realtors released its first quarter report on the Texas housing market this week.

They found that the Texas real estate market had “gained positive momentum in the first quarter of 2012” and that the “volume of single-family home sales in Texas was 12% higher than the same quarter of 2011 and the median price increased by almost 3% over the same time frame.”

“The watchword for Texas real estate in 2011 was ‘consistency,’ in both sales volume and price. That allowed us to emerge from last year with stable sales volumes and strong property values,” said Joe Stewart, chairman of the Texas Association of Realtors. “Now, in 2012’s first-quarter results, we see a strong increase in sales volume and a meaningful increase in the median price. That indicates positive momentum for the year ahead.”

45,502 Texas homes were sold in the first quarter of this year, a 12% increase from the same quarter last year.  The price was also 2.7% higher than first quarter 2011 at $147,000.

Jim Gaines, Ph.D., an economist with the Real Estate Center at Texas A&M University, said: “We believe several factors are driving the strong performance of the first quarter, including continued job growth in Texas and some increased access to credit for home buyers. Most of all, we’re starting to see a shift in Texans’ attitudes toward real estate. Essentially, buyers and sellers have higher expectations for the market, so they’re beginning to take action and we’re starting to see the impacts.”

The real estate statistic of “months inventory” also decreased which is a healthy trend.  The stat measures the balance between demand and supply in the housing market and the Real Estate Center at Texas A&M University cites 6.5 months of inventory as a balanced market.  The months inventory decreased from 7.6 months in 2011-Q1 to 6.0 months in the first quarter of this year.

Stewart concluded, “If all the indicators play out as we expect, the Texas real estate market is in for a busy spring and summer.”

Photo credit: ddpavumba

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Being responsible for a real estate investment of an apartment or home in Arlington requires that you put in much more work, particularly in maintenance, to ensure that its value is retained. If an individual does not have sufficient time to wear the property management hat fully then it becomes an absolute necessity that a professional be hired. In the end, it will save time and money.

There will, time and again, be considerations such as repairs and vacancies to deal with. A property manager will know all aspects that need constant attention to ensure any property is optimally taken care of. They spot issues that most real estate investors will not observe which will typically bring about problems in the future, such as maintenance issues with older electrical and plumbing fixtures.

The most critical error that most investors make when shopping for an Arlington property manager is carrying out the process hurriedly. It is important that you look through has many companies as possible and check for simple things such as the length of time they have been in business, their client base and location. It is also wise to pay a visit to any potential company that looks promising and get a feel for their premises. An active, friendly office is a good sign that other clients have faith in that particular company and how they are managing their properties.

Another suggestion is to make use of networks that are already available to you, such as family and friends. There is possibly someone out there who has sought out an Arlington property management firm at one point or another in the past and you can use their word of mouth in order to begin creating a list of potential options.

It is also advisable to seek out a property manager close to you. Those who have quickly picked out a company to carry out property management farther away from them often forget that this is a long term relationship that may require periodic meetings. It thus becomes time-consuming and cumbersome to engage effectively with them if they are too far from you.

Herman Boswell Property Management needs have been around the block on Arlington property management. Over the last 37 years, they have gotten it down on how to take care of your property and get it utilized to its maximum extent with its value retained and improved. If you are looking for a property management firm in the Arlington area, you can’t do better!

Review some of our methods for caring for property upkeep.

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If your property is within two miles of a suburban community, in what FEMA (Federal Emergency Management Agency) calls the “Wildland Urban Interface” (WUI), there is an increasing danger of being subject to wildfires that continue to occur due to the continuing drought conditions in Texas which are predicted to carry on into next year. Unfortunately, it has been found that more than 80 percent of wildfires in Texas now occur within this WUI area as many Texans have left urban areas, seeking the beauty and peace of nature, only to find they are now exposed to dry brush and grassland bordering or near their properties.

In fact, April 9th through 13th is Wildfire Awareness Week in Texas and FEMA is taking the opportunity to inform Texas property owners about how to safeguard their properties from the danger of wildfire incursion.

“Whether you own your home or rent, it’s important to have a plan in place to protect your personal property, family and pets from the devastation of a wildfire,” said Kevin Hannes, FEMA’s federal coordinating officer for the 2011 Texas wildfire recovery missions. “Make a plan, build a disaster supply kit and stay informed. Those are the three key components to staying safe under any hazardous conditions.”

There are a number of precautions and safeguards that FEMA recommends for property owners to take to minimize the risk to wildfires.

Make your property defensible:

• Create a fire-safe landscape zone ranging from 30 to 100 feet around the home.
• Plant only fire-resistant shrubs and trees. For example, hardwood trees are less flammable than pine, evergreen, eucalyptus or fir trees. Carefully space tree plantings to avoid creating pockets of fuel.
• Create “fuel breaks,” such as driveways and gravel walkways.
• Remove ground fuels like grass, leaves, pine needles, dead limbs and twigs within 30 feet of the home. Clear all flammable vegetation and other materials. Remove branches that extend over the roof or power lines. Mow grass regularly.
• Trim all dead branches from trees in the yard and prune low hanging limbs to prevent fire from climbing to the crowns of the trees.

Within the home:

• Use fire-resistant roofing material, such as ceramic or slate tile, or standing-seam metal roofing.
• Protect the home’s eaves with stucco or plaster to prevent flying embers from starting a fire. Consider designing the home without overhangs or use fire-resistant soffits to protect it from embers and hot gases.
• Ensure that exterior wall coverings are fire-resistant and not susceptible to melting. Concrete, fiber-cement panels or siding, stucco, masonry and metal are some recommended materials.
• Use metal mesh screens to keep fast-flying embers out of vents and chimneys. Vents should also be made of metal.

“Living in the Wildland Urban Interface is much like living in a floodplain,” said Kevin L. Hannes, FEMA’s federal coordinating officer for two wildfire recovery missions in Texas. “Texans should know what risks exist related to their location and they should adopt safety measures to protect their families and their homes.”

Property management is a key action you can take to protecting your property and your investment.  The experts at Herman Boswell Property Management  can help you with the many aspects of your property to keep it from harm’s way.  Give them a call.

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CoreLogic, a California-based provider of real estate information and analytics, issued a report that home prices in the Fort Worth-Arlington area decreased in January from a year ago. While this might be seen as bad news, this figure includes the sales of distressed properties and only represents a 1.9 percent drop compared with January 2011. Without the distressed sales included, home prices in the area are actually increasing by 3 percent. Distressed sales include short sales and real-estate-owned transactions, or properties sold by lenders.

Nationally, the trend was lower. Home prices, including distressed sales, declined by 3.1 percent in January, the sixth consecutive monthly decline. However, when distressed sales are excluded, prices were seen to still be declining by 0.9 percent. So things are definitely better than the national average here in the Arlington area.

CoreLogic’s chief economist Mark Fleming, commenting on the report, said, “Although home price declines are slowly improving and not far from the bottom, home prices are down to nearly the same levels as 10 years ago.”

In another report, the company found that completed foreclosures were down across the nation in January. There were 69,000 completed foreclosures in January 2012 as compared to 80,000 in January 2011. Texas ranked fifth as the state with the largest number of completed foreclosures over the last year ending in January 2012 with some 57,000.

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Most real estate owners have had problems with taking care of their property at one point or another.

Handling one’s personal home is a difficult task that requires a substantial amount of time. That said, the responsibility, stress, and effort required for the task increases exponentially if a person becomes the owner of more than one property, and even more so if they have tenants. The solution to this complicated issue is to hire a property management company that employees property managers who know the law, have experience, and can deal with people in a civil manner.

Although hiring a property management company is a superb investment on the part of the real estate owner, thorough research must be done in searching for the correct company, given that these individuals will be managing what is quite probably your most valuable asset.

Here are some mistakes to avoid when choosing a property management company.

1. Hiring a company based solely on price.
A company may offer a price that seems favorable- that is until you experience their services. Make sure you look at what they are offering and see if it correlates with your demands. You might have to pay more money to some companies, but this addition will be worthwhile if they offer an abundance of services- you’ll be getting the best value rather than the best price.

2. Hiring an inexperienced company.
This issue comes up, once again, as a result of monetary considerations. If a property management company has not managed any properties, or very few properties, they are still undergoing a learning process, and one you will be paying for. An inexperienced manager could be too extreme with your tenants in two ways- either too tyrannical or too lenient. Both scenarios end with you losing money.

3. Hiring a property management company that is not certified.
Certification is a useful measure of the adequacy of a property manager. An independent, objective board decides on whether or not an individual has the qualifications to undertake this particular stream of employment. If a person doesn’t meet certification standards, they likely will not meet your standards either.

4. Hiring a property manager with too many obligations.
While it is detrimental to hire an individual who has no experience, it is equally negative to have a property manager who overextends their capabilities. It is important to have a balance in the two extremes. If your potential property manager takes care of a property where they are earning more money, having to do less work, or have personal connections with the property owners, there is a good chance that you will not be their top priority.

When evaluating a property management company, it is essential to have all of these criteria in mind. Nevertheless, a savvy real estate owner should not stop here. You should make your own additions to this list, including requirements that are specific to your own vision of what a property management company should offer you. Additionally, do not compromise on your expectations too much because it is likely that you will be working with this company for a substantial period of time.

If you own a rental property in any of the following areas:

• Arlington,
• Bedford,
• Benbrook,
• Burleson,
• Cedar Hill,
• Colleyville,
• Crowley,
• Duncanville,
• Euless,
• Fort Worth,
• Grand Prairie,
• Grapevine,
• Hurst,
• Lake Worth,
• Mansfield,
• Saginaw,
• Southlake,
• Watauga, or
• White Settlement,

then the property management company you can count on is Herman Boswell Property Management.

We advise you to definitely shop around but Herman Boswell Property Management has 37 years of property management experience to bring to bear on the needs of your particular property or properties. We oversee more than 700 properties. There is a reason why people trust us. Find out why.

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The Texas Association of Realtors has issued their 3rd quarter report for this year. Once again there is good news for property values in Texas. Their survey found that Texas again for five straight quarters had increases in sales volume and prices for single-family homes.

The stats are these. 66,746 homes were sold in the 3rd quarter which is 14.17% more than in the same quarter last year. The median sales price was $161,400. Again, this is 6.46% higher than last year at the same time.

The realtors are quite optimistic.

To quote Joe Stewart, chairman of the Texas Association of REALTORS®, who said “Texas has been leading the nation economically and these third quarter results are more evidence that a strong real estate market is driving prosperity in our state. With the 83rd Texas Legislature around the corner, we must continue the homeowner-friendly policies that have created that strength and find new ways to support private-property rights in Texas.”

If you are acquiring new residential investment property in the Arlington area and are looking for a property management firm, Herman Boswell Property Management is the best choice. We have a proven track record of over 37 years of helping property owners handle their properties.

Just call us.

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Disputes between neighbors are nothing new and are a fairly common occurrence when people live in close proximity to each other. For property management firms, handling disputes before they escalate is one of their chief tasks. For owners, dealing with neighborly disputes can be challenging because it may be awkward to get in the middle of an ongoing dispute. Find out how enlisting the help of a property management company is an excellent way to manage neighborly disputes and prevent ownership problems down the road.

Quiet Enjoyment and How Property Management Can Help

Property ownership, quiet enjoyment refers to the general right of all tenants to enjoy their space without abuse, conflict or harassment from fellow tenants. Most residential leases include

 language referring to quiet enjoyment but not all tenants follow the rules. This is where a property management firm can assist. 

If conflict among residents arises, property management professionals are there to step in and follow a specific procedure to try to resolve the problem. The first step involves notifying the involved tenants that management is aware of the conflict and that offending behavior must be stopped immediately. This is referred to as a cease and desist notice an is generally directed to the aggressor in the situation, though this can sometimes be hard to determine. A property management team will draft the letter and ensure that it is delivered to the tenants. If any behavior is in direct violation of the lease agreement, this will also be noted as well as any associated consequences for violating the lease agreement. 

In some instances, management may believe that mediation between the tenants could result in a resolution. Qualified property management companies either employ trained conflict resolution specialist or can access one from a trusted professional network to conduct a mediation. In some cases, the owner’s or property management company will bring in legal counsel to serve as a facilitator. This is yet another way to attempt resolution without resorting to eviction. 

Hiring A Property Management Helps Protect Owners 

Disputes between tenants can easily get out of hand if not addressed early on and this could result in owner liability. Property management firms do more than just collect rental payments and coordinate repairs – there are also charged with doing all they can to protect owners from legal action. Management should always conduct an investigation into any conflicts that arise and follow procedures to resolve them before they proceed to the level of legal action. 

Disputes that escalate into harassment that is legally protected. In cases where the harassment involves race, sex, gender, or any other protected class, failure to adequately address it can result in liability for the owner along with hefty legal fees and damage to the owner’s reputation. This is why it is so important to thoroughly investigate all allegations of harassment and ensure neighborly disputes do not involve harassment that violates the law. 

The Top Property Management Firm in Dallas, Texas

The goal of property management teams is to make life easier for both owners and tenants. Consider collaborating with a professional property management firm like Herman Boswell Property Management for professional management services in the Dallas, TX, area. Contact the pros at Herman Boswell property management today. offering combined decades of property management experience and understand the nuances of effective conflict resolution in addition to standard property management duties.

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Owning property as a business is highly competitive and owners undoubtedly have a lot of options when it comes to choosing a property management company. Setting your properties apart from the competition is not easy, so it takes the professional know-how of an experienced property management team to ensure you remain competitive. 

For those who are new to property ownership, the demands of managing multiple properties can quickly become overwhelming and remaining competitive can sometimes take a backseat. For commercial and residential property owners, navigating the competitive world of property ownership can be overwhelming but the right team can help you remain unfazed by the competition. 

Property Management Pros Carefully Craft Your Brand Image

An experienced property management company is well-versed in assisting owners with creating a brand image that stakeholders identify with. Instead of just mimicking what everyone else is doing, a professional property management team works to carve out a solid brand identity that serves to appeal to the target market and distance itself from the competition. Standing out in such a competitive industry is critical so working with a property management company that really understands this is a wise move. 

What is the easiest way to create a solid brand image? Starting with the company website, the right property management team works to use your most valuable marketing tool to create a strong brand identity. Just having a basic website is not enough. As a property owner who wishes to remain competitive, a dynamic website is a good way to increase visibility and attract the right tenants. 

Your site should be user-friendly and stand out to visitors as soon s they click on it. Beyond visual appeal, an effective website will answer visitor questions and deliver your brand message. A skilled property management team can assist in streamlining your website as well as crafting a brand image that is easily recognizable across all digital platforms. 

Property Managers Understand the Market

Professional property managers have a wealth of experience that makes them adept at recognizing trends in the real estate market, which allows them to develop effective marketing strategies for owners. Knowing how to provide value to the community while keeping the owner’s best interests at heart is a delicate balancing act that highly-experienced property management teams can pull off. Professional property management companies know that targeting the right people will pay dividends in the form of brand loyalty. 

When crafting your marketing strategy, the property management team will look at the overall real estate market, as well as those that pertain to an owner’s specific niche and the surrounding community. These trends are then used to gauge everything from rental pricing to understanding how city projects like major construction may affect your business. In addition to coming up with completely new marketing initiatives, property managers are tasked with auditing your current or former marketing efforts and finding ways to improve. It is possible that your current marketing strategy is great overall but could use some tweaking, but if your marketing efforts have not yielded the desired results, professional property management can figure out why and create a strategic plan for success. 

Next-Level Property Management

To remain competitive in such a saturated industry, you should consider seeking the help of a professional property management team. The pros at Herman Boswell Property Management offer combined decades of experience and have assisted property owners in the Arlington, Texas, area for over 30 years. 

If you are interested in elevating your brand and edging out the competition, contact the experienced property management professionals at Herman Boswell Property Management. A top property management firm in the Arlington, TX metropolitan area, Herman Boswell Property Management prides itself on delivering first-rate property management solutions for both commercial and residential owners.

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Owning property is an exciting and sometimes complicated business venture an there are often many unanswered questions. One of the most common questions asked by real estate investors is whether there is a need for property management services. There is often confusion between being a landlord and property manager and sometimes owners do not realize that these are two different things. Making the decision to use a property management company should come after doing thorough research and weighing the pros and cons of each.

The Duties of a Landlord

The biggest difference between property management and landlords is that the landlord is the owner of the property. This means that not only is the owner responsible for handling the business side of owning property, they are also charged with dealing with tenant issues, the hiring of contractors, and more. In some cases – for both residential and commercial properties – tenants and prospective tenants may prefer dealing with a landlord over a property management company. Since being a landlord is a more hands-on role, you will likely be personally meeting prospective tenants and building a rapport with existing tenants.

Generally, the more property one owns, the more hiring a property management firm makes sense. Owners who choose to take on landlord duties may soon become overwhelmed when trying to keep up the demands of maintaining the property and dealing with tenant issues. 

While it is certainly a lot of responsibility, being a landlord does have a few benefits including: 

• Determining rental rates, fees, and renewal rates
• Collecting rent and deciding which rental collection method is preferred
• Creative control over advertising
• Meeting prospective tenants face-to-face

Being a landlord comes with its challenges, but many owners have found that it is a great learning experience and gives them valuable insight that can be used when deciding to hire a property management firm later on.

The Role Of A Property Manager

As with many business ventures, it sometimes pays to have someone with more expertise come in and get things organized. For real estate investors who do not want to assume landlord duties, a property management team is essential. Hiring a reputable property management firm to recruit tenants and run day-to-day operations will save valuable time and give you an edge over DIYers.

Using the services of a trusted property management team lowers the risk of making costly mistakes and gives you access to a wealth of knowledge that would likely take years to a

accumulate on your own.

Some of the main duties of property managers include: 

• Determining rental rates based on the regional market and other in-depth research
• Setting up a maintaining streamlined rent collection systems
• Recruiting and screening potential tenants
• Marketing and advertisement on a larger scale through industry and community partnerships
• Drafting leases an enforcing leasing terms
• Handling move-outs and evictions

Hiring an Experienced Property Management Firm

Landlords and property managers share a lot of similarities, but it all comes down to what the owner feels more comfortable with. A qualified property management team can serve both seasoned owners as well as those who are new to the real estate business. For owners who are inexperienced with managing property, hiring a knowledgeable team will save a lot of the headache that comes from trial and error. If you are considering hiring a professional property management firm, look to Herman Boswell Property Management. The Herman Boswell team works hard to build client relationships and make property ownership a rewarding experience. 

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The Texas Apartment Association is holding its 2012 Education Conference and Lone Star Expo at the Henry B. Gonzalez Convention Center in San Antonio this Thursday to Saturday, April 19 to 21.  The theme of this year’s conference is “Game On!”

The TAA is a non-profit statewide trade association dedicated to unifying rental housing professionals through education, legislative advocacy and member services. Its members are rental housing owners, builders, developers, property management firms and companies that supply products or services to rental properties. The Association has more than 10,700 members and represent more than 1.8 million units throughout the state.

The conference offers the opportunity to earn continuing education credits while learning about industry trends and technology with more than 40 industry-focused education workshops presented by experts such as Amy Kosnikowski, Lisa Trosien, Mindy Williams, TAA General Counsel Wendy R. Wilson and more.

In addition, the Lone Star Expo, the only statewide rental housing industry trade show in Texas, will give you access to service providers and leading-edge products with exhibitors representing every aspect of the industry. There will be several live auctions and you have the opportunity to drive home in a brand new Mustang convertible. The winning ticket will be drawn on Friday near the close of the Expo.

Onsite registration will be available at the conference.

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