What Do Apartments in Dallas Check For When They Run Your Application?

Apartments in each state and, even in each city within the same state, have their own different qualification procedures when reviewing the application of a potential new renter. Take the state of Texas as an example. The largest metropolitan areas in this state with the highest concentration of apartment communities are Dallas, San Antonio and Houston. There are thousands of various apartment complexes in each of these cities. You would think they would have the same requirements for approval when running an Application for a new renter since they are all located within the same state of Texas. However, Dallas has very unique requirements that are different from Houston and San Antonio as well as different from other cities and other states.
Apartments in the illustrious city of Dallas check four (4) major areas in order to approve your Application: criminal background, income/job, rental history, and credit. It is the combination of these specific 4 areas that make Dallas requirements unique as a city, as well as how lenient or strict they are within each of the 4 areas.
For instance, In Houston, located only 239 miles away from Dallas, there are some apartments that consider your debt and your debt to income ratios as well as Social Security fraud history, when checking your Application. These are items that are never checked by Dallas apartments when they run your Application. Also, Dallas is more lenient than Houston when doing a criminal background check when it comes to fraud and financial crimes. Several apartments in Dallas will still work with you if you have a misdemeanor or felony in those categories, whereas in Houston these two areas are almost always causes for denial of your application.
As another example of how unique Dallas qualification requirements are, consider how Dallas differs from another major city, San Antonio. In the city of Dallas, apartments do not check how long you have worked at a particular job. The length of your employment history is not a consideration. As long as you HAVE employment and income that can be verified, most apartments will approve your application. In fact, you can have a brand new job, or even be transferring here to Dallas from another location, and all you need is a “Hire Letter” from the new employee showing your start date and your rate of pay. This is different from San Antonio. Most apartments in San Antonio want to see at least 6 months of employment history.
So, as you can see, Dallas has unique requirements that they check for when running an apartment application. Here are the specific requirements that Dallas apartments look for in more detail:
1. The first area that the best Apartments in Dallas check is your income qualifications. They almost always require that you earn three (3) times whatever your rent amount is. Other cities and states may require that you earn 2.5 times, or even 3.5 times the rent amount, but almost all properties across the board in Dallas check to see that you earn 3 times minimum. For example, if your rent is $1000, they want to see proof that you earn at least $3000 a month. You can provide this proof of income in the form of paycheck stubs. If you are self employed, you can provide bank statements and the most recent year’s tax statements. If you are new moving into the Dallas area and have been transferred from your job, or you are just starting a brand new job, you can provide a letter from your employer on company letterhead from the HR department or the hiring manager. The letter should state that you are being relocated and what your income will be.
Many cities, such as Houston and San Antonio, check to see how long you have worked for a particular employer, and therefore will not accept a “New Hire Letter”. Dallas does not do this. As long as you have the Hire Letter, you can be accepted with a brand new job. More than likely, however, the new apartments will call the company and ask for verbal verification of the letter, and it must be signed by someone with authority, such as the Hiring Manager. They may or may not ask for the letter to be notarized.
What kind of income will the Dallas apartments consider? In addition to income from a business you own or from employment, you can also include funds that you receive as child support, disability, retirement, investments, etc. Any and all income that is legal and is provable will be considered.
What if you are retired and do not have income? Some areas would require you to move to a retirement community or senior facility. But most apartments in Dallas are flexible in this regard. They will just require a copy of your bank statements to verify that you have enough funds to cover the cost of the rent for each month of the lease. For example, if your rent is $1000 a month, and you sign a 12 month lease, they will check to see if you at least have $12,000 in savings. They will also consider any Social Security money that you receive as monthly income. And if all else fails, they will accept a co-signer. Because Dallas is flexible in working with retired individuals, many enjoy the freedom and dignity of renting their own apartment without having to move into a retirement home for seniors. Perhaps this is one of the reasons that Money Magazine voted Dallas as one of the best places to retire in 2006 and 2007.
2. The second area that the best apartments in Dallas always check is your past rental history. They want to know if you have ever broken a lease or been evicted. They will check with the current apartments you are living in now, even if they are in another state, to verify that you are leaving on good terms. It may be tempting to try to “stretch the truth” and hide the fact that you owe past apartments money, but resist the urge. The credit check that they pull on you will reveal any debts that you owe to past properties. In Dallas, any past debts to properties that are still unpaid, even if they are many years ago, will mean an automatic denial if it shows up on your credit. The Manager does not have control over making the final decision in this regard. This is because most apartments in Dallas are managed by large Property Management Companies who make all the corporate decisions for their properties. They set the rules, and the rule is always to check for any property debts and automatically deny an application if such a debt appears. Other cities with a higher percentage of privately owned small apartment communities, such as San Antonio or Houston, may be more flexible in this regard since they maintain more control over who they accept or deny and the Manager may be allowed to make the final ruling.
What can you do if you do owe a past apartment community and you are searching for an apartment in the Dallas area? Well, it all depends upon whether or not it shows up on your credit report. If you aren’t sure if it shows up on your credit, you might first pull your own free credit report and look to see if it is there. Make sure to pull the credit from all three reporting agencies since you aren’t sure which one the apartments will use. If the incident is mentioned nowhere on your credit, then you may choose not to bring up the past, especially if you have had good rental history SINCE that occurrence. If it does show up on your credit, then you will not get approved at any apartment complex in Dallas. Your only option is to go back to that prior property that you owe funds to and pay them off. Be sure to receive a receipt or letter that shows your debt is paid in full so you can present this letter to the new Dallas apartments. Even with the receipt or letter, not every property in Dallas will work with you. A skilled Dallas Apartment Locator will be of great assistance in guiding you to the properties that are a little more lenient in this regard.
3. The third area that the Dallas Best Apartments check is your credit. As we mentioned above, they are mainly looking to see if you owe any past apartments money. However, Dallas is unique because they also will check to see if you owe past utility bills, mainly the electric company. The reason they check this is because you will not be able to turn on your electricity at the new apartment if you still owe the utility company money. So you will have to pay off any debts to the electric company prior to filling out the apartment application. In fact, some Dallas apartments even require you to call the power company and schedule the date for them to turn on the electricity to your new apartment, and get a confirmation number to prove it is scheduled, before they will give the final approval to your Application. Apartments in other cities are not as strict in this area as Dallas.
Another item they will look for on your credit, besides just past apartment debts and utility debts are housing debts. Perhaps you use to own your own home, and now you are moving into an apartment. The apartments will check to see your payment history with the mortgage company and will look for property debts and foreclosures. If a foreclosure shows up, then they may not be able to work with you. It depends on how many years ago the incident happened. An Apartment Locator familiar with Dallas apartments will be in the best position to assist you.
4. The last area that apartments in Dallas always check is your criminal background. Although most cities and states run background checks on applicants, each city is different in how they react to the findings. Dallas apartments run a background check that goes back indefinitely. It will show any past misdemeanors or felonies that you have ever received in your entire life. It doesn’t matter if the occurrence happened 30 years ago. It will still show up. Most apartments in Dallas automatically will decline your application if any felony shows up. However, they can be flexible in a few areas where other cities are not.
For example, if the felony or misdemeanor is for something that does not involve harm to another human and does not involve theft, approximately 10% of the Dallas apartments will work with you. Some examples of misdemeanors or felonies that SOME properties may be more flexible with are: check writing fraud, drinking while driving, possession of marijuana, etc. Other cities are not flexible enough to consider any exceptions and will deny an application for any crime, regardless of its nature.
If you have a non-violent glitch on your background criminal record, you need a qualified Apartment Locator in Dallas who has knowledge of second chance properties to assist you in finding the 10% who might work with your situation. If your particular offense is not one that any apartment property in Dallas will accept, then the Locator will let you know. In that case, your best bet is to find a privately owned house that is for rent by the owner. These can be found in the newspaper. Do not apply for a rent house that is represented by a Real Estate Agent, or they will have the same background check that the apartments have, and you will run into the same problem. Only rent houses that are for lease by the owner offer more flexibility.

The Apartment Search

When you are apartment hunting, prepare a rental search plan. Be sure to know in advance what you want in an apartment and what you can live without. Decide in advance what areas of the city you could consider living in and make a list of apartment buildings within that perimeter.
Be sure to consider how far and how convenient it will be for you to travel to your job or your school or your family and friends. Also, how far is the apartment from stores, banks, hospitals, Church (if you attend) etc. If you have a car, make sure that there is adequate and convenient parking space 24/7. If you don’t drive make sure that there is close by public transportation.
Narrow your apartment locating to the size of rental unit you need. Studio apartment or one bedroom apartment or 2 BR apartment or more. Are you considering a furnished apartment or do you possible need a short term rental. If you are renting an apartment with a cat, dog, or other pet, you need to find out which apartments allow renting with pets and which do not. And, if they do allow pets, is there an additional security deposit required and if so, how much it is. Do you need an apartment complex with an exercise room or tennis courts or a pool or a recreation room, etc. or do you simply need and desire a nice clean and quiet pad.
Be realistic about what you can afford. Most apartment renting guides suggest that your rent should not be more than 25% to 30% of your income. This can vary depending on the income bracket, but be sure to be “real world” when budgeting additional apartment expenses such as heating and air conditioning and other utilities. If you fall short of affording the apartment of your choice, you might consider sharing an apartment with a roommate or roommates. Keep in mind that living with roommates can help you afford an upscale apartment or even, in some cases, luxury apartments, but it also has extreme restrictions to your privacy.
If you are familiar with the area and its neighborhoods, that gives you a distinct advantage for your apartment search. If, however, you are relocating to a new city or are not particularly knowledgeable about the city, you may want to contact an Apartment Locator or an Apartment Finder.
Once you narrow your search for apartments down to apts which suit your needs and desires you must be well organized & well prepared for your visits to the apartment complexes. When inspecting the rental premises be on the alert for unsafe conditions, excessive noise from traffic or playgrounds or neighbors. Visit the apartment building at night as well as the daytime hours. This will give you a more comprehensive understanding of the total space you will be residing in.
When you find the apartment complex that meets your renting needs and desires, you must be ready to put your “best foot forward” when you meet the apartment’s rental agent. This person may be the apartment building manager or a renting agent for the apts. You should prepare for this apartment renting interview in a professional and intelligent manner. Be advised that you are going to be asked to provide proof that you are a reliable prospective tenant. You are most likely going to need references from previous landlords. You may also be required by the apartments to show that you are gainfully employed and can afford the rent. Many landlords may require a credit report. If you are a first time renter and/or you have limited credit history you may be asked for references from family, friends, employer, professionals, etc. Likewise if you are renting with bad credit you will certainly want to come to the interview with a strong selection of references.
You are not necessarily restricted from apartment renting with less than perfect credit, but you may be required to put up an additional security deposit and possibly have a credit worthy person co-sign the apartment lease with you. Don’t unprepared for by requests for any of these things. Be sure to fill out a 100% truthful apartment rental application and come to the interview with references, proof of employment, credit information and any other renting resources at the ready. If you do have a credit history or renting history that might be detrimental, going through an apartment locator or apartment finder may be the best solution. They will present your history to the landlord for you, (make sure they are 100% truthful about it) and they can also be quite helpful and save you a lot of time because they most likely will know which landlords and apartments are more lenient in these circumstances. They can also advise you as to exactly what kinds of references and documents you might need to prove that you can be a responsible tenant.
You Have Located Your “Dream Apartment”
Once you have located your “dream apartment”, or as close to your perfect apartment as possible, now it is necessary to pay extremely close attention to the particulars of the rental agreement. An Apartment Lease is a contract between you and the landlord. Once agreed upon and signed by the tenant and the landlord, the rental lease creates obligations and restrictions for both parties. The most obvious covenants of the apartment lease are the length of the rental, (Six month lease, one year lease, two year lease, etc.) The amount of the security deposit, when the rent is due, who is responsible for what utilities. Also in that apartment lease, however, are stipulations, (sometimes in small print) that can cover a great variety of landlord and tenant obligations and restrictions. They can include, but are not limited to, the following:
o Maintenance of the apartment
o Care of the premises
o Cleanliness
o Insurance
o Governmental regulations
o Eminent Domain
o Nuisance and noise clauses
o Stipulations as to the circumstances whereby the landlord can enter the premises
o Use of Common Areas
o Keys and locks
o Loss or damage
o Parking
o Pets
o Plumbing
o What the landlord may do if the rent is in arrears
o What the tenant can do to bring the rent current before any kind of action might be started
o Non performance or breach of the contract by the renter
o Renter’s penalties in the event of early termination
o Circumstances which might cause the tenant or the landlord to break the lease prior to the end of the term
o Heat and other utilities
o Removal of goods
o Surrender or Non-Surrender of the premises
o Waivers of various obligations
o Prohibited reprisals
o Garbage disposal
o Recyclables
o And the list goes on and on and on.
Prospective tenants should read an Apartment lease thoroughly. Prospective apartment renters should understand everything that is contained in that lease and make an informed decision to be 100% accepting of all the provisions for both the tenant and the landlord, that you are positive that you can live up to your end of the bargain and that you are comfortable with the provisions on the landlord’s end.
If you do not understand every single clause of that apartment lease then do not sign it until you do understand it. If necessary and if possible, request assistance in interpreting the lease from a trusted source such as a knowledgeable friend or family member or employer or professional, or anyone else who can understand it and explain it to you. If necessary get legal advice. It can cost additional funds if you do not qualify for free legal assistance, but that additional cost might save you a ton of money and save you a ton of heartache and aggravation down the road.
If you do not agree with any of the provisions of that apartment lease and/or you feel that you can’t live up to the tenant’s obligations, or if you are not in agreement with any of the landlord’s rights under the agreement, then do not sign the lease until/or unless it can be changed to your satisfaction. If the apartment rental agreement cannot be amended to meet your needs and desires and comfort level then do not sign the lease and do not rent that apartment. The Apartment Rental agreement that you sign as a prospective tenant will not change once you become the actual tenant of that apartment.

Water And Phoenix Real Estate

If you really know your American history (and/or have ever read the book or seen the PBS documentary Cadillac Desert) you understand full well that settlement of the West and water issues are inextricably bound particularly in desert areas like Phoenix.
The fact is that without water, there would be no Phoenix AZ real estate – nor the city of Phoenix proper, for that matter. Fortunately, the Gila River is nearby, as well as a number of creeks and reservoirs. Over 1300 years ago, these enabled the Hohokam People to grow crops on the exceptionally fertile land. Almost a century before the time of King Charlemagne, the Hohokam created a highly developed civilization in the Valley of the Sun that endured for seven centuries. Their systems of irrigation canals formed the basis of the modern metro area’s water systems today.
Those of you planning to invest in Phoenix real estate or settle down in the area will do well to remember however that Maricopa County is a desert. Water is a precious resource, and in order to maintain the quality of life we enjoy in this area, it is important to practice water conservation.
Many Phoenix homes are landscaped using the native vegetation within attractively designed rock gardens. While a home with a traditional lawn may appear to have greater value, the cost – both financially and ecologically – of maintaining a lawn will be high and not a particularly wise use of resources.
It’s also popular to have private swimming pools in climates such as we have here in the Phoenix area. Aside from tremendous drain on local water resources, your Phoenix real estate agent will advise you that a swimming pool, while lifting your property’s value, represents a considerable investment in terms of maintenance and a potential liability as well. The possibility of someone being injured or drowned in your swimming pool is something that home insurers take into consideration when determining risk and potential liability.
In general, when planning to settle down in Maricopa County, it’s good to consider living in harmony with the environment rather than attempting to adapt it to your own tastes. Choose a home with environmentally-friendly, less water intensive landscaping. Make sure your home has low-flow toilets and shower heads – then learn all you can about water conservation. The Arizona Department of Water Resources at azwater is a good place to start learning about the latter topic.

Fast and Efficient Ways To Finding An Apartment In New York City

Searching for an apartment in the biggest City in the country is a daunting task; whether you are new to NYC or a 12 year veteran like me, you will need thick skin to navigate this concrete jungle! Let me start with my personal experience.
I am originally from Portland, OR, I moved to the Big Apple back in 1998. My first 5 months living in New York were spent living out of a hotel because I had a hard time finding a place. My original intentions were to stay at my hotel for 2 weeks, but I had to extend my stay since I grossly underestimated the difficulty of finding a decent apartment in New York. Now after 12 years and 7 moves I consider myself an expert in New York City apartment hunting and now I will share the knowledge I have accumulated over the years of searching for apartments by myself or using a broker.
This article is a guide that will help make the process of finding an apartment in this “crazy city” easier, more efficient and less confusing (it might even save you a couple of dollars in the process). It is all laid out in an easy to follow 6-step process.
Step 1: Figure Out What Neighborhood You Want To Live In!
This may seem like the easy part because you obviously want to be in an area that is convenient, trendy and safe, however you will soon figure out nothing is that easy in New York City. You need to determine what neighborhood fits your personality/life style and at the same time determine what kind of space/amenities you will need. For example you may work in the East Village and love the energy there but are you willing to pay the steep price tag for a “shoe box”(and by “shoe box” I mean a tiny apartment) in a run down building that is a 4th floor walk-up. Do you feel comfortable living in an area where it’s a constant party scene every night?
A book that is an amazing source of info for the ins & outs of every neighborhood is the NFT (Not For Tourist) guide of New York City. You can buy this in any Barns & Noble and make sure it is the most up to date version because there is a new version every year. Another great way of getting to know a neighborhood is by Googling it. With an endless source of information in cyber space why not take advantage of it. If you prefer doing it the old fashion way, taking a stroll through the neighborhood, go for it! But make sure you have your trusty NFT guide with you so you can spot the important things.
Step 2: Determine What You Are Willing To Sacrifice
In your apartment search you are going to have to sacrifice something whether it be size, location or amenities. You are going to have to prepare yourself mentally and emotionally because the grim reality is the perfect apartment doesn’t exist (unless you have an unlimited budget) The general rule of thumb in New York is the further uptown you go the bigger and cheaper the apartments will be. The further downtown you go the smaller and more expensive it will be.
You need to determine what is most important to you within your unique budget and find that middle ground. My advice, is if you find an apartment that is 70-80% ideal, take it, because the pickier you are the harder the search will be! I learned this the hard way a longtime ago and you do not want to get stuck chasing around that “magical apartment”. Yes, it is possible you might get lucky and find that perfect apartment but so is hitting the jackpot in the lottery!
Step 3: Determine What You Can Afford And If Your Budget Is Realistic
Once you have an idea of which neighborhoods you prefer to live in, now you have to determine if your a budget is realistic. Determine what is the average price for an apartment for those neighborhoods. How? I recommend going to a website called apartmenthero. This website will provide current market averages for every size apartment rental in every neighborhood in the city. Results are usually pretty accurate but sometimes they can be a little off, about plus or minus $300. When you first enter the site you will be prompted to enter information to compare your current apartment to the current market rate. If you’re a “newbie” and do not have an apartment yet, go to the right column of the website, click on “average rents in Manhattan”. Another great way is to do your own research on nytimes. I find that nytimes rental listings are much more accurate and up to date, as opposed to Craigslist and other sites where there are tons of bait & switch scams.
Next, determine what you can afford, landlord’s make this part easy because to qualify for most apartments in the Big Apple, you need to have a good credit standing (650 or above), earn a yearly household income of 40-50 times your monthly rent and if you don’t, then you need a guarantor. He or she needs to earn 80-100 times the monthly rent. For example the average one bedroom apartment in East Village is about $2,300 -$2,600 per month; you will need annual household income of $92,000 to qualify and a guarantor, would need a yearly income of $184,000 minimum.
Step 4: Timing Is EVERYTHING
I have a good friend whose ex-wife worked as a real estate agent for eight years. When they were still together, I had the unique opportunity of getting some great tips on how to look for an apartment in New York. The most impacting tip she gave me was that timing is everything. New York is unlike any city in the country when it comes to this, in most cities you generally start your apartment search two or sometimes three months before your move out date. In New York the market moves so fast that most landlords want to sign leases immediately after your application is accepted. At the very most, you have a month to search, the best deals generally come out the first week of the month or the third week of the month. Approximately 70% of the listings in the first week of the month are for movers moving on the 15th, 30% are meant for movers moving at the beginning of the next month.
Make sure you secure an apartment at least 1 1/2 week prior to when you want keys! My advice is you only need 5 days (sometimes less) to find an apartment. The first 2 days should be getting to know what’s out there, the 3rd and 4th day should be narrowing down your search and 5th day should be getting your paperwork together & submitting your application. With every rule there are exceptions, if you find an amazing place that is 95% ideal on your 3rd or 2nd day do not hesitate, take it! What is great to you is more then likely great to most apartment hunters. The vacancy rate in Manhattan is usually around 1-2% so there will be always more people looking for apartments then there are availability.
Step 5: Determine What Strategy You Will Use To Find Your “New Home”
This decision can make or break you depending on your situation. There are two ways to go about finding an apartment in New York City, you can do it the easy/expensive way and hire a broker to find you a place or you can do it the hard/affordable way by doing it yourself. I personally have done it both ways and it all depends on what you are looking for and what is your situation. Here are the benefits of both methods:
Benefits of doing it yourself
1) You will save MONEY!!!
-Broker fees are expensive; they range from 1-month rent to 15% of the annual rent. If the broker has an exclusive on the listing, you will likely have to pay 15%
2) You avoid shady money hungry brokers
-Lets face it in every industry there are bad apples and the real estate industry is no exception.
3) You will learn the City
-With all the walking you will be doing you will get to know the city better then you ever have before.
4) You’ll be in better shape when your done
-You will be in better cardiovascular shape because you will be walking a ton! So you better have on some comfortable sneakers.
Benefits of using a Broker
1) Faster and more efficient
-Your apartment search will be less time consuming and more efficient because brokers have access to thousands of listings you will never have access to and can show you a bunch in one shot.
2) Avoid outdated listings
-Websites like Craigslist, Renthop & Apartments.com are flawed and poorly regulated and most of their listings are barely updated. Brokers listings are updated daily because they have direct contact with the landlord
3) Brokers know what a landlord wants
-Each landlord in the city has their own preferences and application requirements. Brokers know what each landlord is looking for in a tenant; this can save you time, heartache and expensive application fees.
4) You will have access to more Apartments
-Approximately 41% of available listings in New York are only accessible through brokers. These types of listings are called “broker protected listings”, the land lord will only take applications represented by a broker.
Step 6: Here Are Some Great Tips
1) Talk to a Doorman
-If you do decide to try doing it yourself talking to doormen is a great way to find an apartment. Doormen not only have info to the building they are working in but to other buildings the landlord may own.
2) More is not always better
-If you do decide to use a broker, more than one broker at a time is not always better. Brokers have almost all the same listings because most listing are open. For example if you call ten brokers and give them your detailed description of what you are looking for there is a distinct possibility you will be shown the same apartments. At the same time you should not limit yourself and work with one broker, you might be missing out, because some brokers have exclusive listings. My advice is, you should only use three brokers and if you find one that you feel is competent and trustworthy, stick with him/her.
3) Use NakedApartments
-This website gives you the ability to not only look for rental listings while discreetly contacting brokers/landlords but you can give them a review if you had a bad or good experience. You can also look at the reviews of other brokers or landlords before you decide to contact them.
4) Don’t be afraid to negotiate a broker fee
-Most brokers would rather negotiate and get the deal done then risk having the next broker showing the apartment and rent it before him/her. Do not get carried away, no broker will take less then a month. Remember if the apartment is an exclusive listing you will have no leverage for negotiations.

Phoenix Real Estate Market at Risk of Sudden Slowdown Due to Newly Passed Housing Bill

The Phoenix residential real estate market could see a 10% or greater drop in home sales with the elimination of down payment assistance tied to Federal Housing Administration (FHA) loans, which would have serious repercussions given the market’s already challenging climate.
Nestled in H.R. 3221, or “The Housing & Economic Recovery Act of 2008,” passed into law on July 30th, the Congress and the President set a date of October 1st for the elimination of down payment assistance, a financing option for many home-buyers in the Phoenix real estate market.
Down payment assistance is provided in tandem with a Federal Housing Administration loan whereby home-sellers can contribute monies through an intermediary toward a down payment for home-buyers to purchase a home. The intermediary acts as a pass-through for seller contributions and passes these monies to the buyer as a ‘gift.’ Ameridream Inc. and Nehemiah represent the most visible of these intermediaries and have been involved in several legal challenges with FHA over the down payment assistance option.
But the hard truth is that elimination of these programs may adversely impact the Phoenix housing market and do more harm than good in the short term. This is due to FHA loans and down payment assistance programs’ prominence in the current housing environment. FHA loans haven taken on a hugely important role in the Phoenix residential real estate market. As loan programs disappeared, credit requirements tightened, and down payment requirements rose to 10% or more, FHA loans presented the only option for home buyers to get into properties with 3% or less down payment through the use of DPA. Some estimates are that FHA loans currently represent over 50% of closed residential real estate transactions for the year. As a result, the wholesale removal of down payment assistance programs may have an immediate impact.
If the legislation holds, the market may see two developments. First, there will be heightened activity in the period up to October 1st as affected home buyers seek to lock into homes before they get sidelined and aren’t able to. Second, there will be an appreciable decline in buyer activity and home sales as a result of down payment assistance’s elimination after October 1st. Buyers who could have purchased homes will have to wait or give up their search.
Phoenix could see a 10% or greater decline in an already suffering housing market that potentially moves it away from a market that is recovering to one that is stinging. Taking this one step further, if the impact is similar in other markets across the country, the effect on the broader economy of the United States may be problematic.
The Federal Housing Administration as part of the Department of Housing and Urban Development is staunchly against the use of the programs citing that down payment assistance transactions incur a disproportionate number of foreclosures when compared to loans where the buyer accumulated the down payment. Higher FHA loan defaults raise the costs and risks to FHA. FHA cites that homeowners using these programs are able to buy their homes with effectively no money down and so have no personal stake in the properties themselves. With no personal stake, the buyers may not have the personal financial discipline to keep their commitments or the financial wherewithal to afford the properties in the first place.
Proponents counter that the programs simply allow viable and qualified buyers the ability to own their own homes and that elimination of the program will hurt American families.
Regardless of the side of the debate one is on, the market reality is that wholesale elimination of the down payment assistance option does present a risk to the Phoenix housing market. as it has been an important and prominent enabler for the local housing market. Time will tell if a viable compromise solution is put before the Congress and the President before down payment assistance goes completely away.

Money Saving Solutions For Living in Apartments

Only Visit Cheap Ottawa Apartments
Although this article is about saving money while you’re already living in an apartment, this tip is important enough that it still belongs here. You shouldn’t rent an apartment you can’t afford! Live below your means.
When you’re beginning your apartment search, create a budget, find a maximum amount you’re willing to pay in apartment rent, and don’t go over that amount – no matter what! You can visit apartments that are a bit over your budgeted number, but only if you think you can negotiate down to under whatever maximum you’ve set. And if you do visit the apartment but you can’t negotiate down, nix the apartment from you’re list.
Pay Yourself First
You might have heard this saying before. This tip can be applied to any one looking to save money. Whenever you get a paycheck, pay yourself first. Before you buy clothes, before you pay your apartment rent, put a little away in a savings account or an investment where you’ll never look at it or touch it.
The saying comes from the book, The Richest Man in Babylon. The book recommends putting away at least 10% of your total earnings. After you do that, and after you do things like pay off your apartment rent, you can do whatever you want with your money, guilt free!
Do It Yourself
One of the advantages of an apartment is that if there’s ever a problem with the apartment itself, or the appliances that came in the apartment, you can ask the landlord to fix it (assuming you’re renting an apartment from a reputable apartment rental company. However, for all the other stuff (your computer, your furniture, etc.) you’ll have to pay someone to fix it, or learn to do it yourself; same goes for decorating. Learning a few trade skills can save you a lot of money while you live in your apartment. They’ll also help if you make the switch from renting Ottawa apartments to owning an Ottawa home!
Make Use of Your Apartment Kitchen
It’s easy to spend a lot of money eating out. But if you cook at home, in your apartment, you’ll save lots of money very easily. The more you cook, and the more you shop for groceries, the easier it’ll be to know which foods are cost-effective, and which ones are a bit too expensive for your “taste.” Most apartments come with basic apartment appliances like a fridge and a stove.
Don’t Leave Things On
If you pay for utilities, you should be extra vigilant about letting anything run longer than necessary. Don’t leave a light on if you’re not in the room. Don’t let your computer “sleep” overnight – turn it off! If you pay for water, don’t take extra long showers.
Here are 12 more tips to lower your apartment electric bill.
In apartments it can get pretty cold during the winter. If you don’t want to blast your heat up, then you should close your apartment windows, and make sure they’re not letting cold air in. Tape can fix this, and heavy curtains can also help. As well, make sure your radiator isn’t covered up by furniture.
Use the Library
If you’re in any apartments near Universities or other schools, you likely have access to a library. Use it! Besides, how much space do you really have in your apartment for more books or DVDs? Speaking of which, many libraries offer DVD rentals, and you should check out the selection at whichever library is nearest to your apartment.
Here are the public library locations; their main library is near downtown apartments. But as you’ll see on the map, there’s almost always an ibrary near you – and that’s not even counting the student libraries around.

Renting A Chicago Apartment

Illinois’ capital city and the largest city in the state, Chicago is a very well known city in the US and the world. A prominent economical hub of the Midwestern region in US, it houses the world’s second busiest airport, Chicago O’Hare. It also is home to some of the biggest corporations like Baxter International, Abbot Laboratories, etc. Financial institutions flourish in this part of the world with the presence of the very famous ones like Federal Reserve Back of Chicago, Chicago Stock Exchange, etc. With such a strong economy, it attracts a lot of relocations from various parts of the world giving rise to a flourishing real estate market.

People coming into the city typically look for a good place to leave and most likely will chose apartments that have all the basic amenities to lead a comfortable life. Most of the Chicago apartments offer all kinds of latest amenities that one can possible ask for at reasonable monthly rents.

If you are looking for Chicago apartments, then it is ideal for you to search on the Internet because you will come across numerous options that perfectly fit your budget. Chicago apartments offer all the latest amenities that you can expect from modern state of the art condos and villas. However, it is better to choose a studio apartment in some of the best areas across the city because of transportation and easy accessibility.

Chicago, Illinois apartments are quite reasonable in terms of rent, if you compare with the tons of features they offer. You can choose N. Wolcott Southeast studio apartment for which you will only have to pay around $815.00 per month. This studio apartment provides free cooking gas and you will have to pay security deposit for half month. It has 2-1/2 large studio rooms along with hardwood flooring, high ceilings, bay windows and big closets. It is close to Winnemac Park and has close by train stations. This apartment has all the latest amenities such as intercom security, digital cable, storage lockers, playground, full time janitor, ownership and management facilities, excellent public transportation, close to restaurants and shopping malls, parking zone, etc. This apartment is one of the best among the Chicago, Illinois apartments.

Three bedroom large apartments in Chicago will cost you little more than the previous one. The rent of these apartments can be anywhere around $895.00 per month. You can check out 4623 N. Lincoln apartment with square-one bedroom having hardwood floors and tall windows. This apartment is situated close to restaurants, train stops, Welles Park. This apartment is located right in the heart of Lincoln Square having spacious 3 room one bedroom along with kitchen, dining room and excellent storage facility. These 3 room one bedroom apartments in Chicago has all the latest amenities like the studio apartments except these are more spacious.

If you are willing to spend more than the studio apartments and 3 room one bedroom apartments, then extra-large one bedroom apartments in 4239 N. Hermitage can be ideal for you. These types of Chicago apartments for rent will cost you around $1295.00 per month. This apartment is more like a gorgeous castle having huge one bedroom, formal dining room, huge walk-in closet and brand new kitchen counter top. It is situated near to Cubs Park.

You can also opt for a studio apartment in W. Winnemac, which is a ready to move in apartment. It will cost you around $785.00 per month, which is very close to Winnemac Park. One bedroom apartments like the one in W. Belle Plaine is one of the most desirable apartments to live, which is situated nearby Kedzie Avenue Brown Line train station. It is can cost you anywhere around $835.00 per month. These Chicago apartments for rent have all the modern facilities that one can possibly ask for.

London Apartment – Everything You Need To Know Before Booking A Serviced London Apartment

A few weeks ago a secretary telephoned me in absolute desperation. She was desperately searching for accommodation in central London for some VIPs from abroad. She stumbled onto my website, not really understanding what the service was about. I think the words ‘free service’, ‘apartments’ just helped her to figure out that Quality London Apartments had something to do with accommodation. Apologies for my long opening, but it is a prime example of how little travelers in the UK and Europe know about the serviced apartment industry. After explaining the concept of serviced apartments and helping her find an apartment, I realized that I needed to share this knowledge further afield. Thus, this article is my contribution to open up this elusive industry and offer tips to travelers.

What is a serviced apartment?

A serviced apartment is a flat in a block, which has a separate bedroom, sitting room/lounge, fully equipped kitchen, your own private keys to own door. Serviced apartments can be in the form of a studio flat (all in one room with a kitchenette), one, two or three bedrooms.
All apartments enjoy maid service, utilities and a management team to help….just like a hotel. Guests only pay for a nightly rate and can live in a flat with everything they would have in their own home.

Pros: Serviced London Apartment vs Hotels

  • More value for money and cheaper. In a hotel, no matter which star rating, you pay per night for one room which will have a TV, bathroom, sofa and a bed. This is similar to a studio apartment! In an apartment there is a separate bedroom, kitchen, sitting room, bathroom and dining table (exception is studio)
  • Pay per apartment and not per person. An example would be paying £250 per night for a two bedroom apartment, which could accommodate up to 4 people, that works out at £62.50 per person.
  • Freedom and privacy. An apartment is like being in your own home and there is plenty of space. You have your own keys to your own door.
  • Booking is easy, just like hotels. The majority of apartments require a credit card to guarantee, pre-payment before you arrive and that’s it. No deposits, no tenants’ contracts.

Cons: Serviced London Apartment vs Hotels

  • Apartments lacks the buzz and services of a hotel such as restaurants and Room Service. Albeit some apartments are owned by hotels and offer you the use of their restaurants and other services.
  • No 24-hour service around the clock. The apartments are ran by a small team who work Monday to Friday 9:00am – 6:00pm, so you are on your own during the weekend. There are emergency numbers to call should you suffer an electric cut, but no 24-hours hotel Duty Manager to run to your room.
  • No pool, massages, saunas like hotels

What to look out for when booking a serviced London apartment?

1. Quality of the apartment – make sure you find out if they are clean, well furnished and well maintained. How? Check the photos, and ask if you can book an appointment to view the apartment. This is very important if you are staying over a long period of time.

2. Do they have a friendly and efficient management team? If you need the comfort of a welcoming face to greet you on arrival, then ask for an apartment with a reception. Some apartments provide key boxes, so you can arrive any time, but there is no-one to meet you. A friendly and small team will be able to give you a very personal touch.

3. Opening time of the apartments office – doesn’t sound important? Well it is because the majority of apartments’ operations team open Monday to Friday 9:00am to 6:00pm. If you arrive at your apartment during office open hours, then fine, but any other time and weekends will mean that you will need to pick up the keys from a different location.

4. Key delivery by car at the airport? – If you are flying from abroad to London, and do not fancy traipsing throughout London at night to pick up keys, the majority of apartments will hire a taxi to deliver your keys to the airport upon your arrival. Convenient for a small charge.

5. Payment procedure and cancellation policy – every apartment vary in their guest terms and conditions. All will accept a credit card as a guarantee of reservation, some will ask for 100% pre-payment at least 7 days prior to arrival and cancellation can range from 12:00pm on the day of arrival to 28 days. So, before you confirm the reservation, be very clear about the terms and conditions. Ask your apartment agents to explain the procedure to you and read the terms and conditions on your confirmation emails. It will save you a great deal of trouble and headache later.

6. Apartments are always allocated on arrival. This policy is the same as any hotel, so unless you are a regular guest to a specific apartment, apartments are on allocations. In the same breath, some apartments only have a small number of flats, so if you are reserving the only 3 bedrooms penthouse in their collection, then you are guaranteed that specific apartment.

7. Rates become more competitive the longer you stay. In this, we mean you have more bargaining power if you are staying for one month or longer. This is when your apartment agent can really help you by negotiating with a variety of apartments to get you the best deal.

8. Using an apartment agent will also save you time searching, but most importantly they will work with your budget and negotiate a great deal for you. Of course, you also need to be realistic about what you can book, don’t expect to spend £80 per night for a luxury apartment. For example, one of our clients had £300 budget per night for a two bedroom apartment and he wanted something luxury. For those readers who know London well, also understands that this budget is actually very small. Despite that, we booked him and 3 friends into the Victoria Park Plaza luxury apartment (£150 per night less than the usual price) for £300 per night with free breakfast, gym and access to the executive lounge. Any apartment agent worth their salt can and will move mountains to help you.

What if I don’t like the apartment when I get there?

If you really feel that you have been hard done by, tell the apartment management team and ask to be moved to another apartment. All of the apartments that we work with are very customer focused and try to help guests enjoy their stay. If this does not work, talk to your apartment agent, if that is how you booked. Best advice though, is to ask all the right questions before you book an apartment.

Your appetite for apartments is now whetted – how do you find London apartments?

1. As already explained, you can choose a free search and book service of an apartment agent or go direct to a specific apartment that you know. Both methods are absolutely fine, dependent of your knowledge of London apartments. Using an agent will mean that they will search far across their portfolio and present you with a variety of choices…all within 10-15 minutes. Agents are impartial and will only (good agents anyway) recommend the quality apartments for your needs.

2. You can use search engines like Google, Yahoo and MSN to find apartments. Type in keywords like ‘London serviced apartments’ or ‘quality London apartments’ and so on.

3. Stating the obvious but, ask for a recommendation from friends and acquaintances.

4. Check on Tripadvisor and other customer review websites.

Summary

If you have read this far, then thank you for your time. I have tried to make this article clear and as helpful as possible, but I welcome your comments and any further information that you feel is very important.

Five Reasons to Invest in Phoenix Real Estate

If you are a real estate investor, then you understand how important it is to have a knowledgeable Phoenix realty in your corner, helping to find the right properties at the right prices for you.; Phoenix realtors are eager to share with you five reasons why it makes sense to invest in Phoenix AZ real estate.

Phoenix is a popular spot for “snowbirds,” or retirees who come to live in the area during its notably warm and pleasant winter months.; Many of these retirees are looking to permanently move to Phoenix, and would be interested in the properties you have to offer.

Another reason why Phoenix real estate is a smart investment is that the population here is growing rapidly as the economy diversifies.; You will find people moving here because of the great job opportunities in government, the research being done at Arizona State University, and the many high-tech and telecom companies that have moved to the area.;

Investors focus on Phoenix real estate because the geography and natural habitats draw many people to live in Phoenix due to its proximity to several beautiful parks.; Places like Boyce Thompson Arboretum State Park with its botanical collection, the famed Desert Botanical Garden in Papago Park in Phoenix, the 16,500 acre South Mountain Park and others draw new residents to Phoenix on a regular basis.

Sports fans use their love of their favorite games as an important reason for moving to Phoenix, and this brings more home buyers to the area.; Phoenix is proud to be called home for the Cardinals football team, the Diamondbacks major league baseball team, the Phoenix Suns NBA and the Phoenix Mercury Women’s NBA teams, as well as the Phoenix Coyotes ice hockey and Arizona Sting lacrosse teams.; Major league baseball teams, nine in number, also conduct spring training in Phoenix, and this is another draw that brings sports enthusiasts to the area to buy homes.

Golfers from around the world come to Phoenix to golf during its 320 days per year of sun, and many dream of buying Phoenix real estate so that they can enjoy golfing here on a permanent basis.; You will find famous courses such as the Arizona Biltmore-Adobe Course, The Legend at Arrowhead Golf Resort designed by Arnold Palmer, and the Superstition Springs Golf Club that has been a PGA Tour qualifying site are big reasons why golfing enthusiasts move to Phoenix.

Phoenix Real Estate Schools

Travel and home magazines describe Phoenix as a tropical paradise. Financial and investment publications feature articles about the real estate situation in Phoenix and its rich economic vitality. As a result of this demand for property, real estate brokers and agents have a thriving practice. This has motivated many people to seek a career in the real estate business. As in any other field, professionals in the real estate business require specialized education.

Real estate schools coach and train aspiring real estate agents and guide them through the mandatory certification and examination process. These schools also offer their expertise in helping a student acquire real estate licenses.

Real estate schools in Phoenix offer online courses and the duration ranges from a month to a year. Typically, one year of study is required to complete a pre-license course. Completing a pre-license course gives students 63 hours of credit, which is required as a prerequisite for the real estate sales associate license. On completion, a student would have met the educational prerequisite to appear for the Phoenix State Exam. It is not necessary to be a U.S. Citizen or a Phoenix resident to obtain a Phoenix real estate license. The eligibility criterion are that the applicant must be at least 18 years of age, he/she should not have had a real estate license denied within one year or revoked within the two years prior to the application date.

Phoenix real estate schools provide adequate knowledge and support to its students in order to make them masters of the profession. It is advisable to plan the course as per each individual?s requirements and availability of time.

In recent times, many real estate schools have sprung up in Phoenix. Experts advise caution when choosing one for enrollment. Some of these schools are relatively new and do not have sufficient credentials to back their claims. It is believed that many don’t even have a standardized curriculum. Choosing a reputed real estate school with a updated curriculum and practical sessions is critical to becoming a successful real estate professional.