Dean Rizzi

Is Rental Real Estate the Next Big Opportunity?
April 27, 2011 · · 2 Comments

It could very well be. Residential rental vacancy rates are below the 10-percent mark, where they had been lodged for most of the past three years. Peggy Alford, president of Rent.com, predicts that by 2012 the vacancy rate will hover at a mere 5 percent.
Since 2002, rental rates have been flat, and down of late (inflation-adjusted). If Rent.com projections are anywhere close to expectations, we could see a rise in rents of 15 percent over the next two years. That would be a significant reversal of fortune: rent hikes have averaged less than 1 percent annually over the past decade, according to Commerce Department statistics.
Pent up demand appears real: More than 1.2 million young adults moved back with their parents from 2005 to 2010, according to John Burns Real Estate Consulting. Many others doubled up together. Now that the recession is over, many of these young people are ready to find new living quarters, mostly as renters. Where there are renters, there must be property owners (even if they are not occupants). As rental rates increase, the capitalized market value of property increases too – that means rising real estate prices.
We’ve frequently noted that opportunities always abound, regardless of the perceived direness of current circumstances. The outlook in the rentals is another reason we think they abound in the residential real estate market.

Dean Rizzi
www.drlending.com

How to Lower Your Property Tax?
April 1, 2009 · · 4 Comments

taxcut_proptaxThis is no April Fool’s Day joke!  When home values go south, one positive thing for current homeowners may be the chance to lower their property tax.  You might have seen advertisements that offer to lower your property tax for a fee anywhere from $100-$300…don’t be fooled!!!…Did you know that you can lower your property tax for FREE (or just a small amount for filing fee)?  And, it’s simple to do! 

First, download the property tax appeal application from your county’s tax assessor office (see links below). Print out the form and complete the information about your property.  You will be able to find all of the information needed on your property tax bill.  Some counties websites allow you to submit the form online.   Read more