Happy New Year from all of of us at Fast Forward Property Management! We want to wish you a blessed and prosperous year ahead. This month we have some articles, tips, and economic analysis that can help benefit you in 2011.
Economic Highlights
Mortgage Rates Overnight Averages
30 year fixed - 4.99%
15 year fixed - 4.32%
5/1 ARM - 3.86%
Source: Bankrate.com
Prime Rate - 3.25%
Source: Wall Street Journal
10 Year Treasury Rate - 3.35%
Source: CNN Money
Unemployment Rates
National - 9.8%
California - 12.4%
Average Hourly Earnings - $22.75
Source: U.S. Bureau of Labor Statistics
At Fast Forward Property Management we are very optimistic about the economy. Christmas buying was very strong. Investors are coming out again, the stock market and the Dow Jones is up while interest rates remain low. There has been a great deal of real estate activity. It seems the worst is finally behind us.
Biggest Mistakes Property Owners Make
Take the Quiz
By Fast Forward Property Management
In real estate, as in any business, mistakes can cost you time and money. With over forty years of experience, our management team of seasoned property managers regularly consults  with property owners to help them run their businesses more profitably and efficiently. Over the years, we have seen both new and experienced owners make the same mistakes over and over again. By advising our clients on how to avoid these pitfalls, we have helped them save thousands of dollars and avoid many unpleasant situations that can surface in the property management business.
The following is a list of the most common mistakes we’ve seen landlords make. As you read through it, give yourself one point for each area you are handling correctly (in other words, the opposite of the bolded text). When you are done, add them up to see how well you score at being a successful landlord. Click Here for Full Article and to Take the Quiz
Economic Growth or "Shrinkage" Since 2006
by the Basis Point
Economic growth predictions are getting more positive for 2011 and the very rough consensus is around 3% GDP growth. December's reading (third of three readings) showed the economy grew at 2.6%. The first of three 4Q2010 GDP readings will be released January 28, and below is a chart showing all quarterly GDP readings since 2006. It’s a good picture of pre and post crisis economic activity. If the economy was George Costanza, it might have been yelling “I WAS IN THE POOL!!!” during that 2008-2009 period.
www.thebasispoint.com
Increase Your Cash Flow in Multi-Units
 by Jeffrey Taylor
Do you want to increase your cash flow on your rentals? If so, you definitely need to take a couple of minutes and check out up to 21 excellent suggestions for HOW TO INCREASE THE CASH FLOW in multi-units, of which several of the ideas are also applicable to single family home rentals. These ideas are shared by other rental property owners
1) Fight property assessment values (saved me about $4000 a year on this)
2) Water restrictors, tamperproof low flow showerheads and faucet aerators, rebuilding leaking toilets, replacing large tanked toilets (seems to be on track to $3000 to $5000 a year savings on units where I pay water)
Click Here for the Full Article
Property Management Tip
Save Water and Money with Dual Flush Systems
By Fast Forward Property Management
Many owners of multifamily properties pay the water bill that includes the water consumption of each resident. As we regularly consult with many owners of various types of buildings, the water bill can be extremely expensive. One solution to cut back on the residents' usage rates is to install a dual flush system in toilets. The concept is simple: press one for liquids and two for solids. The manufacturers claim that this uses up to 70% less water. Many are priced starting around $10 and install in about 10 minutes with no tools required.
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