The Successful Landlord Blog

So, I recently ran upon this article about the National Association of Realtors (NAR) who say that they are planning to spend up to $43 million to raise public awareness that, and get this, now is the time to buy a house.

Ok, regardless of the fact that IT IS a good time to buy a house due to low interest rates and large housing inventories, in my opinion there is no need to advertise. It seems to me that NAR thinks that the housing market is akin to the grocery store checkout isle.

I could be wrong but buying a house is typically not an impulse buy for the general population. I guess that the National Association of Realtors needs to justify their existence somehow and this is their way of doing that.

I recently read an interesting post on the blog of a local real estate agent. It shows the ratio of properties listed for sale to the number of properties sold in my area. There is a graph included which has a time span of one year.

With so many people crying about the “housing crash” and how the house they bought six months ago is now worth $40,000 less than when they bought it, it’s interesting to me that over the past eight months there was a large increase of the houses listed for sale.

I would venture to say that this is caused by all the speculative buying done by so-called “investors.” It amazes me that these people would wait until the last possible moment to list the houses for sale and then wonder why they can’t get the houses sold and all the while paying that nicely increasing mortgage payment because they took out a adjustable rate mortgage to buy the place. Here’s an interesting post from the RealEstateBloggers.com about this.
But then again, about two years ago, I was told by more than one mortgage broker that I should consider a mortgage with a variable APR because, and I quote, “Variable rate mortgages are as good as fixed rate mortgages these days.” At the time, I really had to hold my tongue as I wanted so badly to ask these people if I sound (on the phone) like I was born yesterday because in my mind “these days” are not going to last for the next 30 years (or the term of any of my mortgages).

So, today I got a call from my real estate agent letting me know that there was an inquiry on the house for rent. She let me know that the woman inquiring says that she has 3 dogs which she “won’t part with” whatever that means. We’re not trying to take your dogs away lady.

Anyway, at the end of the conversation, the lady inquiring mentions that two of the dogs are 60 pound “American Staff Terriers” as she called them. Being unfamiliar with this breed, I did a quick Google search.

Ya, these things are basically Pit Bull Terriers. And the correct name is American Staffordshire Terrier. Even if I don’t know what I’m talking about and these dogs are NOT Pit Bulls, they totally look like Pit Bulls and that’s what the dog bite victim, police, animal control, personal injury attorney, judge and insurance adjuster are going to see as well.

Thank goodness for Google + Broadband internet access. NO WAY, are those dogs living in one of my properties. I bet that potential tenant is having to go through the entire list of properties for rent looking for a gullible landlord or property manager. It’s almost like you have to try to NOT rent the place.

Ya, thanks for playing! NEXT !

From a story in The Los Angeles Times on January 9th, 2007: Reporter Charles Piller broke the story today revealing that The Gates Foundation which is the largest philanthropic organization in the world and is chaired by Bill & Melinda Gates of Microsoft Corp fame, profits from companies which run counter to the foundation’s aims.

In January 2006, mortgage company Ameriquest Mortgage, a subsidiary of ACC CapitalHoldings Corp., settled a class-action lawsuit with 49 states and the District of Columbia where it was sued for predatory lending practices between 1999 and 2005.

The LA Times investigation also revealed that, in the Niger Delta, where the Gates Foundation funds programs to fight polio and measles – the Foundation has also invested more than $400 million dollars in companies including Royal Dutch Shell, Exxon Mobil Corp, and Chevron. These oil firms have been responsible for much of the pollution that many blame for respiratory problems and other illnesses among the local population.

The Gates Foundation also holds investments in sixty-nine of the worst polluting companies in the US and Canada, including Dow Chemical. It owns stock in pharmaceutical companies whose drugs cost far more than what most AIDS patients around the world can afford. Other companies in the Foundation’s portfolio have been accused of transgressions including forcing thousands of people to lose their homes.

Overall, the LA Times says nearly $9 billion in Gates Foundation money is tied up in companies whose practices run counter to the foundation’s charitable goals and social mission.

Nice Bill. Run your Foundation like Microsoft why don’t ya!

(link to audio and video report on Democracy Now! with Amy Goodman)

The other day I (finally) had a showing at the rental house that has been vacant for about 2 months now. The potential tenants seemed nice enough but the thing that was interesting to me was something one of them said.

This person mentioned to me how they found out that the house was for rent. Keep in mind that the house is not really advertised in any way. In a previous post I mentioned that I was going to use the internet (primarily) to advertise. Subsequently, there was a SNAFU with Rent.com where for some reason they refuse to accept my credit card as payment. I checked with the credit card company and there is no problem with my account. So, whatever.

I digress. The potential tenant mentioned that someone at a local paint store (of all places) that is 30 miles away, mentioned to him that there was a house for rent (mine), close to where they were looking. It seems interesting to me that people see “for rent” signs, make a mental note and relay the information to completely unrelated interested parties.

All this coupled with the fact that the city this house is in seems to have an over-zealous , over-dedicated employee who insists on removing my “for rent” signs almost as soon as I place them on the closest major road.

These are the services I value most for my tax dollars.