Real Estate and Property Management Leaders Form Strategic Alliance

September 1st 2010 by RE/MAX

Denver, CO - August 13, 2010 - (RealEstateRama) — For the first time, a major real estate franchisor and the country’s largest property management franchisor are joining forces to assist renters, distressed homeowners and investors.  The historic alliance is a two-way strategy that allows industry power houses, Real Property Management (RPM) and RE/MAX, to efficiently exchange property and client referrals.

As the housing market continues a gradual recovery, more investors are taking advantage of a growing inventory of distressed properties, while some cautious consumers are choosing to rent a home before they buy.   Through the new agreement, RPM will connect RE/MAX agents with investors ready to sell and, in turn, RE/MAX agents will recommend clients to RPM who are ready to rent.  RE/MAX agents may also refer properties to RPM for management.

“Record numbers of foreclosures, high unemployment and stricter lending practices have resulted in lower homeownership rates,” said RE/MAX Chairman and Co-Founder Dave Liniger during opening remarks Monday at the annual RE/MAX Broker Owner Conference in Denver this week.  “RE/MAX agents need to provide the best solution for each of their clients and, for many, home ownership may still be a few years away.”

Distressed properties account for nearly half of today’s U.S. home sales,   and investors represent a fifth of current buyers.  That means trained real estate professionals need to redirect their marketing efforts to address the needs of a changing homebuyer demographic.

“This cooperative agreement has significant benefits for consumers, investors, loan servicers, renters, RE/MAX agents and our franchisees,” said Kirk McGary, President of Real Property Management.  “RE/MAX and RPM are joining forces to offer the highest quality of service to consumers, while providing an effective solution to the increasing number of distressed properties on the market.”

Based in Layton, Utah, RPM doubled in size in 2010 to more than 200 offices that manage tens of thousands of properties for national loan servicers numerous banks, private lenders and individual investors.

RE/MAX and its internationally acclaimed RE/MAX University will create customized training and communications programs to ensure that participating professionals are equipped to provide their clients with the highest quality service.

“The technical capability to simultaneously connect with thousands of franchisees within both organizations is a tremendous advantage,” said Mike Ryan, Senior Vice President of Media and Training at RE/MAX.  “Also, real-time updates will provide transparency and offer an invaluable resource to lenders and servicers.”

To facilitate the implementation of the new alliance and deliver the most efficient service, RPM has created an interactive online portal where agents and property managers can make their referrals and track the progress of all transactions.

About Real Property Management:
Real Property Management has a refreshing and unique approach to property management.  Our model includes web-based property management systems, cost effective practices, streamlined operational procedures and comprehensive marketing strategies that get results.

What started out in 1986 as a single property management office in Layton, Utah has become the national leader in the property management industry.  Currently with over 200 locations throughout the US and Canada, RPM continues its rapid growth and is opening new locations each week.  We currently manage over tens of thousands of properties in over 40 different states.

For information on Real Property Management, please visit:  www.realpropertymgt.com

RPM-RE/MAX is set to dominate the future of Real Estate. Contact us your local Southern California, Real Property Management, located in Beverly Hills, 468 N. Camden Dr. 2nd Floor, Beverly Hills, Ca. 90210 call mon-fri 9-5pm 310.858.5514 or www.rpmwestside.com

About The RE/MAX Network:
RE/MAX was founded in 1973 by Dave and Gail Liniger.  From a single office in Denver, Colorado, it has grown into a global network of nearly 100,000 Sales Associates in more than 75 countries, an international presence greater than any of its competitors.  Nobody in the world sells more real estate than RE/MAX.

RE/MAX has been recognized as the leading real estate franchise in the “2009 Franchise Times Top 200,” and has also been honored as the top real estate franchise for nine of the last 11 years in “The Franchise 500 Survey,” published by Entrepreneur magazine.   Today, all U.S. home listings in thousands of cities and towns can be found at www.remax.com, the most visited real estate franchise web site. (Compete.com, Hitwise, ComScore for 6-month period through April 2010)

RE/MAX is proud of its Premier Community Citizenship, which has raised over $100 million for deserving organizations like Susan G. Komen for the Cure®, Children’s Miracle Network and The Sentinels of Freedom Foundation.

RPM-RE/MAX is set to dominate the future of Real Estate. Contact us your local Southern California, Real Property Management, located in Beverly Hills, 468 N. Camden Dr. 2nd Floor, Beverly Hills, Ca. 90210 call mon-fri 9-5pm 310.858.5514 or www.rpmwestside.com

Proper Use of Property Management Trust Accounts

Posted on 29. Jul, 2010 by Mary Girsch-Bock "Law"

Misuse of trust accounts is the number one reason why property management companies are audited. That’s why it’s vital that the proper trust fund accounts are established as needed, and used properly.

Improperly using trust accounts that were established to maintain owner funds and tenant security deposits can result in stiff penalties, such as license suspension or revocation. Improper tracking or usage of tenant security deposits can also result in the management company being responsible for the cost of damages incurred while the property was occupied.

Trust accounts are traditionally used as a method to keep tenant deposits and rent payments separate from operating capital. For example, in both California and Arizona, rent payments must be placed into a trust account no later than three business days after the funds have been received.

Funds placed in the trust account can only be withdrawn by the broker or broker-officer whose name the account is established under. Brokers are not allowed to tap into these funds except for trust related items. To complicate matters, many states currently require that security deposits be kept in a trust account, with some state statutes requiring that the deposit be in a separate trust account, while others allow them to be placed with the owner’s trust account. For instance, in Arizona, brokers must maintain a separate account for all tenant security deposits. Note that in most states, security deposits received on broker-owned properties do not have to be deposited into a separate trust account, but it’s always wise to check your own state’s requirement.

In recent years, some states have implemented new laws requiring property managers and owners to specify in the management contract exactly how trust accounts will be used. Even if your state has statutes specific to the use of trust accounts, it’s best to spell out any specifics in the management contract.

The Department of Real Estate in each state has its own set of established rules and regulations governing the proper and improper usage of trust accounts, and it’s wise to get yourself up to speed on these regulations.

While your state’s department of real estate will continue to perform audits, if your management company has followed the statutes, and maintained ‘good accounting practices,’ you should be able to sail through any audit that your property management company may be subjected to.

In the next article, I’ll go over some practices you’ll want to implement immediately, if you’re not already doing them, along with some things to avoid.

*** At Real Property Management we comply with California State Law. If you have any questions regarding trust accounts feel free to contact us Mon-Fri 9-5pm 310.858.5514 or www.rpmwestside.com

Real Property Management teamed up with KFI 640 am in Los Angeles & we started running a radio campaign last week 7/20! More than 10 Southern California Real Property Management offices are participating in this radio campaign covering from as far north as Santa Clarita all the way down to Orange County and everything in between including Los Angeles, Hollywood, Beverly Hills, Santa Monica and all of West LA thru our Beverly Hills office RPM Westside. Not only are we the Nations largest and #1 property mangement firm with over 200 offices, but we are also Southern California's largest property management firm with over 15 offices from San Diego to Santa Barbara! You can hear our ads starting in the mornings with Bill Handle from 6am-7pm weekly! Listen for the special promotion for KFI 640 am listeners only.

learn more about our services on our home page www.rpmwestside.com

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Credit scores sink to new lows

About 25.5% of Americans had credit scores below 600 in April, according to FICO Inc. Historically, only about 15% of consumers have had scores below that level.

By Shan Li, Los Angeles Times

July 12, 2010 | 3:44 p.m.

Battered by unemployment and tighter lending standards, the credit scores of millions of Americans are sinking to new lows. About 25.5% of consumers — or 43.4 million people — had credit scores below 600 in April, according to FICO Inc. Historically, only about 15% of consumers — or 25.5 million — have had scores below that level, FICO said.

Consumers with low credit scores will have increased difficulty obtaining credit cards and other loans, said Christian deRitis, director of credit analytics at Moody's Analytics.
A high national unemployment rate — 9.5% in June — has helped drive down scores, DeRitis said. "Delinquencies are on the rise. People out of work are not making payments on debts, and that negatively impacts their scores," he said.

Many people also have high credit balances when compared with the total amount of credit available to them, DeRitis said. This trend, when combined with an inability to acquire more credit, has served as a "double-edged sword" for the economy, he said
Those in the middle of the spectrum have also declined. Moderate credit scores, between 650 and 699, fell to 11.9% from a historical average of 15%.

The distribution of credit scores tends to shift during recessions, said Craig Watts, spokesman for FICO Inc. "Our experience has been that when a two-income family turns into a one-income family, people have to prioritize which bills to pay, and some bills aren't paid," Watts said.
As consumers have had difficulty getting more credit, the pace of the economic recovery has slowed."It's a bit of a vicious cycle," DeRitis said. "The threshold of good and bad credit has been raised as lenders rush to safety. That depresses spending, which negatively impacts the economy overall."

On a bright note, the percentage of consumers with high scores of 800 or above has risen. Those with pristine records are at 17.9%, well above the historical average of 13%, although slightly down from the 18.7% in April 2008.The economic downturn has made people more aware of how important it is to lower personal debt, DeRitis said. Those who are still employed and receiving regular paychecks have decreased spending and paid down loans, he said. This trend will ultimately have long-term benefits for the economy, but short-term recovery will be sluggish.

"In the long run, it's best to have consumers who are managing debts in a sustainable way," DeRitis said, "unlike the boom-and-bust cycle we've seen in the past." But as unemployment nationwide continues to hover near 10% and unemployment insurance benefits run out for those out of work, the immediate outlook is gloomy."Until the labor market turns around, people will remain unable to pay bills," DeRitis said. "Lowered consumption will only add extra friction to the economy." The calculation for FICO scores considers two factors: how consistently bills are paid and how much available credit is in use. Slow or delinquent payments and high amounts of debt result in lowered scores.

shan.li@latimes.com

Copyright © 2010, The Los Angeles Times

Fresh From Your Farmers' Market

Why you should support your local Farmers’ Markets:

1) Many of the farms use sustainable agricultural practices.

2) Money goes back in to your community.

3) The food is organic, thus pesticide free.

4) The produce is super fresh.

5) Less packaging is involved.

6) The distance the food travels is exponentially less than the distance food travels to super markets:

According to an article titled, "Eat Locally and Ease Climate Change" written by Lloyd Alter, on Planet Green: “A full tractor-trailer hauls about 32,000 pounds of produce. On average...this food travels about 1,750 miles from farm to market, in trucks that get about 5.5 miles per gallon. That's 320 gallons of fuel to transport 32,000 pounds, or about a gallon of fuel for every 100 pounds of food."

Side note: Do not be alarmed if you come across a stand or two (or even more) that do not have a “Certified Organic” sign hanging in their tent. It can be expensive getting certified so some farmers opt not to, but still practice organic and sustainable farming. You should, however, inquire if they use pesticides and such in their farming, just as a precaution.

Check out the guide (below) to find Farmers’ Markets around the L.A area:*

Mondays:

West Hollywood Monday Farmers’ Market
9am-2pm
Plummer Park - N. Vista and Fountain Ave
323-845-6535

Tuesdays:

Woodman Avenue Market
3pm-8:30pm
14006 Riverside Drive Sherman Oaks, CA 91423
(866) 966-9495

Made an impromptu stop here on my way home one day. Great selection of fresh/ripe veggies. Not as many fruit vendors as I would like, but there are lots of craft boutiques.

Culver City Certified Farmers’ Market
3pm-7pm
Main & Culver, Culver City
310-253-5775
http://www.downtownculvercity.com/newpages/farmersmarket.shtml

Wednesdays:

Santa Monica Wednesday Farmers’ Market
8:30am-1:30pm
Arizona Ave & 2nd Street
310-458-8712
http://www01.smgov.net/farmers_market/wednesday.htm

Northridge Farmers’ Market And Family
5pm-9pm (April-October)
Northridge Fashion Mall (between Macys and Borders)
9301 Tampa Ave
Northridge, CA 91324
805-643-6458

Hollywood Lemon Grove Farmers’ Market
10am-2:30pm
4959 Lemon Grove Ave @ Hobart Blvd.
323-463-3171

“The Hollywood Lemon Grove Farmers' Market is a certified farmers' market that opened on June 18, 2008. It is replacing the market formerly located in the Sears parking lot (known as the Hollywood-Sears Farmers' Market). The new market offers a variety of fruits and vegetables as well as nuts and dried fruits. In addition to a great selection of fresh produce, the market hosts events for children and adults including healthy cooking demonstrations, tastings, a salsa contest, Spring into Health activities, free raffles, live music, craft workshops and pumpkin carving for kids.

The market is open year round. The Hollywood Lemon Grove Farmers' Market proudly accepts EBT/Foodstamps and WIC/Senior FMNP coupons.”


Thursdays:

Westwood Farmers’ Market
12pm-6pm
Vets Garden, Westwood
310- 861-8188

“At the Westwood Farmers Market, at the Vet's Garden at the VA, the emphasis is on real farmers and on gourmet, hard to find foods. The market features more than thirty farmers and food vendors in a beautiful garden setting, plus plenty of shade, and lots of free parking! The market will serve farmers and consumers, and also the Vets Garden, which helps veterans with rehabilitation, training, and employment programs. Come to the garden to enjoy lunch or dinner, listen to music, and bring home your fruits and vegetables.”

Went here to buy food for my Green BBQ. The surroundings were quite pleasant: there is a garden to walk through and eat in while you listen to live music.

L.A. La Cienega Farmers’ Market
3pm-7pm
South La Cienega Blvd and West 18th Street, Los Angeles
562-495-1764

Century City Certified Farmers’ Market
11:30am-3pm
1800 Avenue of the Stars, Century City 90067
818-591-8161

Glendale Certified Farmers’ Market
9:30am-1pm
100 block of North Brand Blvd.
Between Broadway and Wilson
818-548-3155
http://www.downtownglendale.com/farmersmarket.html

“The Glendale Farmer's Market features everything from fresh-baked breads, farm-fresh vegetables and fruit, to honey, nuts, flowers, and plants. Some of the produce sellers offer organically grown produce so look for signs or ask the sellers for details about their growing methods.”

Fridays:

Venice Farmers’ Market
7am-11am
Venice Way & Venice Blvd
310-399-6690
http://www.venicefarmersmarket.com/

Echo Park Farmers’ Market
3pm-7pm
Parking Lot #663 on Logan Street, south of Sunset Boulevard
323-463-3171

“The Echo Park Farmers’ Market opened on October 13, 2006 and features quality locally grown seasonal fruits and vegetables.

As with all SEE-LA’s markets, WIC (Women, Infant, and Children) Farmers’ Market Nutrition Program checks and EBT/Food Stamps are accepted."

Saturdays:

Santa Monica Pico Farmers’ Market
8am-1pm
Virginia Ave. Park (Pico & Cloverfield Blvd)
310-458-8712
http://www01.smgov.net/farmers_market/pico.htm

Santa Monica Saturday Organic Farmers’ Market
8:30am-1pm
Arizona Ave & 3rd Street, Santa Monica
310-458-8712
http://www01.smgov.net/farmers_market/saturday.htm

Burbank Farmers’ Market
8am-12:30pm
3rd St & Orange Grove (City Hall Parking Lot)
626-308-0457
http://www.burbank.com/farmers-market.php

“For the freshest fruits, vegetables and flowers, visit the Farmer's Market in Downtown Burbank, California every Saturday morning. Whether you are looking for fresh produce or organic foods, the Burbank Farmer's Market has a huge assortment of great products grown and made locally.

With farmers representing areas throughout Southern California, you can pick anything up from the standard vegetables and fruits to flowers, honey, breads, nuts, herbs and many more great treats.”

Old Town Calabasas Certified Farmers’ Market
8am-1pm
23504 Calabasas Rd.
Woodland Hills, 91364
(Calabasas Road & Mulholland Drive)
818-591-8161
http://www.cityofcalabasas.com/farmersmarket.html

L.A. Silver Lake Certified Farmers’ Market
8am-1:30pm
3700 Sunset Blvd
Between Edgecliff Dr & Maltman Ave (intersection of Griffith Park Blvd)
323-661-7771
http://www.sunsetjunction.org/farmersmarket.html

“Get the freshest vegetables and fruits directly from the original growers! Most items are organic produce and non-sprayed. We have apples, oranges, Asian pears, berries, nectarines, peaches, grapes, plums, limes, avocadoes, pomegranates, spinach, tomatoes, cucumbers, chilies, cauliflower, potatoes, asparagus, lettuce, onions, baby lettuce, Asian vegetables, cabbage, eggs, plants, orchids, the best flowers and more.

We also have pita bread, French crepes & Shawarma, fresh bread, gourmet tamales, dried fruit, fresh imported roasted coffee, tropical fruit, fresh from the farm natural juice, pupusas, Fresh Farmers' Market made Salads, fish, cheese & olives, pies, flan & herbs, pre-packaged Korean foods, Pizza, Empanadas, and sugar-cane juice & coconuts.

The market also features Arts and Crafts, including jewelry, incense, clothing and more.”

Sundays:

Santa Monica Sunday Farmer’s Market
9:30am-1pm
2640 Main Street. (Ocean Park & Main St.)
310-458-8712

Pacific Palisades Farmers’ Market
8am-1pm
1037 Swarthmore Avenue
Pacific Palisades, 90272
(Between Sunset Blvd. and Monument)
818-591-8161

Beverly Hills Certified Farmers’ Market
9am-1pm
9300 block of Civic Center Drive, Beverly Hills
(310) 550-4796
http://www.beverlyhills.org/attractions/market/default.asp

“The Beverly Hills Farmers' Market is a weekly outdoor certified market which provides the community with the finest of California-grown, fresh and seasonal fruits and vegetables, juices, breads, specialty items and more in a festive outdoor street setting.”

Brentwood Certified Farmers’ Market
Gretna Green & San Vicente, Brentwood
9am-1pm
(818) 591-8161

Obviously a favorite of mine. See: Pluots & Strawberries & Raspberries OH MY!

Melrose Place Certified Farmers’ Market
9am-2pm
Melrose Place & Croft, Los Angeles
818-591-8161

Studio City Certified Farmers’ Market
8am-1pm
Ventura Place & Ventura Blvd., Studio City
818-655-7744

West L.A. Certified Farmers’ Market
9am-2pm
1645 Corinth Ave., Los Angeles
310-281-7855

Encino Certified Farmers’ Market
8am-1pm
Victory Blvd & White Oak, Encino
818-708-6611

“Encino Farmers Market is a fun way for every one in the family to spend time together for shopping, food and fun! The market is open year round on Sundays from 8:00 a.m. until 1:00 p.m. at 17400 Victory Blvd. (between White Oak and Balboa) with plenty of convenient parking.

We are a certified farmers market, featuring a great variety of California grown fruits, vegetables, fresh flowers, eggs and chicken, honey, mushrooms, plants, and more! During the peak months between May and November, about 40 farms from all over central and Southern California participate.”

Hollywood Farmers’ Market
8am-1pm
Ivar and Selma Avenue between Hollywood and Sunset Blvd.
323-463-3171
Parking: Cinerama Dome: $2 for first 2 hours with Market Validation (entrance at Ivar & Delongpre). Metered Parking: Check Parking Enforcement signs. Some meters FREE until 11AM on Sundays. Doolittle Theatre: Limited free parking. LA Film School: $2 parking; at NE corner of Ivar & Sunset

“The Hollywood Farmers' Market is a "certified" open-air street market with approximately 90 farmers, 30 local artisans, and 30 baked goods and prepared food vendors who sell their own products every Sunday. It is a direct-to-consumer marketplace with all produce and products from local, California vendors and growers.

Besides offering a fantastic variety of the freshest California-grown fruits and vegetables, the Hollywood Farmers' Market has increasingly become a destination shopping venue. Other products include honey, fish, free-range poultry and eggs, bison meat, gouda cheese, olives, mushrooms, sprouts, jams, jellies, fruit juices, specialty sauces and dips, dried fruit and nuts, an espresso cart, Mexican, Caribbean, Middle-Eastern and many other ethnic foods prepared at the market, hot crepes, breads, cookies, clothing, jewelry, gifts and so much more.

The Hollywood Farmers' Market also hosts street musicians every Sunday as well as local nonprofit community organizations and free special events for the community including chef demos, cookbook signings, tastings, children's craft workshops, and family-oriented festivals. Free helium balloons for children, recipes and other information in addition to Hollywood Farmers' Market t-shirts, aprons and bags are available at the Information Booth at Ivar and Selma Ave.

Accepts food stamp/EBT cards and WIC & Senior FMNP."

*Please note: the day, time and location for any given Farmers’ Market are subject to change.

Farmers' Market Information from:
http://www.farmernet.com/

L.A. water rates could rise by 8% this year, DWP manager says

THANK YOU!

Home Improvement at the White House: $376 Milion

Updated: Saturday, 22 May 2010, 12:34 PM PDT
Published : Saturday, 22 May 2010, 12:34 PM PDT