Archive for the ‘Announcements’ Category

Rentals to stay strong through 2017

Tuesday, February 16th, 2010

Whether you defaulted into being a landlord, or you are an investment guru, you know that the uncertainty of the real estate market can cause a lot of stress, especially with talks of deflation, widespread recession and falling home prices. As most economists will tell you, consumer spending drives the economy. Whether you believe the savings of the baby boomers caused the economy to stumble, or you believe it came from the “housing bubble” over extension of credit and investments of banks on sub-prime loans, I think we can all agree that the looming retirement age of our baby boomers, and loss of spending by the baby boomers in the coming decade will pay it’s toll on our economy.

BUT FEAR NOT INVESTORS !! While your property values will most likely to continue to deflate, you still have options. This downturn in the economy will most undoubtedly result in continued changes to banking policies, and make it more difficult to get financing for property. Coupled with the fact that the media demographic age of a renter is 26 years of age, that demographic will continue to mature, and reach this age. This will result in more renters in the market. Which means you will survive, and possibly thrive!

Rental housing spending peaks right now at median age of 26 (Dent, 2007). With that said, Dent says “(Rentals) will hold up best, as more young households will be forced to rent first, and that rental cycle is on the rise demographically into 2017”.

So, those of you stuck, unable to sell, fear not… Renting is still a great option, and with our rental services, you will be prepared weather the economic storm…

Happy Renting!

Sam Thompson

RPM Midwest

880 Alexandria Pike
Ft Thomas, Ky 41075

2720 Airport Dr
Columbus Oh 43219

Source : Harry S. Dent (2009) “The Great Depression Ahead”

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Renters Beware of Rental Scams

Thursday, February 11th, 2010

Caveat Emptor! (”Let the Renter Beware!”) With the increasing use of advertising methods such as Craigslist, scammers are out to get into your pocketbook. Scammers take real properties that are actually for rent, slash the prices to entice potential rentes to email them about the availability. Then they tell stories about how they are a homeowner who was transferred overseas, and will give you their place very cheap. They will lie to you and tell you all you have to do is wire in the deposit to a bank account somewhere outside the US, typically to countries like Nigeria, and they will send the keys and paperwork. Once you send the money, they are out gone, along with your money.
New scams, warned by the NAR’s website state:

“The National Association of REALTORS® has learned that its good name is being used as part of a property rental scam. In this scam, rental property is offered to consumers, who are led to believe that NAR is functioning as an intermediary to receive rental deposits from prospective tenants and, upon receipt of the deposit, to deliver the keys to the property to the tenant. The tenant is instructed to send money via Western Union to NAR’s purported agent. NAR is not involved in this business and believes it is a scam. NAR has contacted law enforcement officials to request that the matter be investigated. If you have encountered this scam, be advised that you may file a complaint…with the Federal Bureau of Investigation
retrieved from http://www.realtor.org/law_and_policy/scam_alert?lid=ronav0022

To find a Reputable Rental Company offering very nice properties in the Ohio area, visit our site with nice rental houses.

Real Property Management Midwest
880 Alexandria Pike
Ft. Thomas, Ky 41075
(859) 442-9600

2720 Airport Dr.
Columbus, Ohio 43219
(614) 678-5550

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Foreclosures – A Sign of the Times

Thursday, February 4th, 2010

I thought this article was interesting, and truly is a sign of the times. It was retrieved from: http://www.ajc.com/news/atlanta/lender-forecloses-on-homeless-290533.html

A new lender has foreclosed on the massive homeless shelter run by the Metro Atlanta Task Force for the Homeless, which operates at the corner of Peachtree and Pine streets in Midtown.

Foreclosures A Sign of the Times

The Metro Atlanta Task Force for the Homeless, which operates at the corner of Peachtree and Pine streets in Midtown, must come up with $500,000 to stop foreclosure.

Bob Cramer, chairman of the board of the task  force, confirmed Wednesday that they had received a foreclosure notice this week, and the group has a month to come up with more than $500,000 to pay off the overdue loans.

Cramer said the task force had been trying to renegotiate the loans it had with Mercy Housing, a nonprofit lender in Colorado, and the Institute for Community Economics, a nonprofit in Massachusetts but the nonprofits chose to sell the loans to a group called Ichthus Community Trust, which foreclosed.

“The balloon note was due over a year ago but I think it is important to note that all the interest has been paid through February,” Cramer said. “We were trying to work it out.”

The task force has been fighting with the city of Atlanta about its controversial shelter, which at time houses  more than 700 homeless men.

Debi Starnes, the homeless czar for Atlanta, contends the shelter’s philosophy of sheltering men without requiring them to take steps such as entering a drug-treatment program prolongs their life on the street.

Anita Beaty, the executive director of the task force, says the shelter has helped hundreds of homeless men move on to stable lives, but she considers it inhumane to refuse a bed to someone in need.

Real Property Management Midwest
2720 Airport Dr.
Columbus, Ohio 43219

880 Alexandria Pike
Ft. Thomas, Ky 41075

4773 Glendale Milford Rd.
Cincinnati, Ohio 45242
859-442-9600

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Just Announced – Fannie Mae Signs with RPM!

Wednesday, February 3rd, 2010

Real Property Management received news that as soon as next week, Fannie Mae will begin parceling out properties around the nation to be rented out, and the RPM franchise has received the nations biggest contract. This program is similar to that which Real Property Management has already been working on for nearly a year with Freddie Mac. This program is designed to help keep foreclosed homeowners on their feet, and in their home. This program, announced just a couple months ago, has been in the works with RPM for nearly a year, and RPM will be looking forward to providing  quality property management services in Ohio and in Kentucky.

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Fannie Mae Ready to Sell Fast

Monday, January 11th, 2010

Fannie Mae is apparently unhappy about the thousands of REO houses it’s holding on to. It’s hedging to sell off that inventory faster than it has in the past with a new policy, which could open up fast and lucrative opportunities for buyers and their agents.


Fannie Mae says it’s going to accept purchase offers for its inventory immediately after listing, where in the past they notified lenders and mortgage service companies first.

The fifteen day time-out to these companies slowed down the whole process – which can keep properties out of reach of ready and willing buyers.

According to Fannie’s recent securities filing took on more than 98,000 properties following foreclosures in the first three quarters of 2009. During the same time, it sold about 90,000 houses.

This widening imbalance of REO acqurings vs sales, Fannie Mae was sitting with 72,000 unsold homes. This represents about a 7 percent increase from the same period in 2008.

No more fifteen day time out period for lenders whose REO we’ve selected for loan file reviews.

Investors take note!!!! Look for earlier access to REO properties, and earlier decisions on purchase offers. We have services to help you find great investment properties and professional property management services.

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Snow Removal Policy

Monday, November 23rd, 2009

Homeowners! Well, It’s that time of the year again when it gets cold and snow will (continue to) fall. We want to make you aware of our policy on snow removal.

We will be using our best judgment to minimize the cost of snow removal this winter. If at anytime we have a light dusting of snow and the weather will be warming up immediately following the snowfall, we will not be plowing or salting your property. This very situation happened several times over the last week. No walks or driveways were plowed as of yet.

We will only be plowing/salting in the case where the snow is going to stick around, or when there is substantial accumulation. In instances where we accumulate snow and the temperature appears as if it will remain below freezing, we will be plowing and then salting all plowed areas to ensure that the risk for injury to property or persons is minimized. If less than 2 inches of snow is expected, along with a freezing temperature, we will be salting only.

As with all maintenance needs, should you have any questions regarding the removal of the snow at your property this winter, please feel free to contact RPM and we will take care of your questions.

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