Feb 14
A reserve study is a homeowner association’s essential long range planning tool. It charts a schedule for the board to follow for major repairs and replacements (paint, roofing, etc.) and forecasts a budget for each event so the board can set aside money (reserves) each year so adequate funds will be available when the various events come due. It’s an amazing tool that takes a lot of guess work out of the board’s job.
Even though a reserve study makes funding projections up to 30 years away, the premises upon which those projections are founded are ever changing. Each year, the inflation rate changes as does the yield on invested funds and the starting balance in reserves. These three moving parts alone can have a dramatic impact on costs and reserve fund balances years away. But there are other forces at work. The cost of labor changes from year to year based on a hot or cold real estate market. Cost
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Tags: Reserve Study, Study
Feb 05
There were many Chicago real estate awards handed out over the weekend honoring the best in the commercial real estate community.
The Building Owners and Managers Association of Chicago (BOMA/Chicago) held an awards gala in the historic Great Hall at Union Station to announce the winners of the Gold Circle and The Outstanding Building of the Year (TOBY) Awards.
The BOMA/Chicagos Gold Circle Awards honor individual excellence within Chicagos commercial real estate community including professional accomplishments, involvement in BOMA/Chicago and positive impact on the commercial Chicago real estate community.
The 2011-2012 Gold Circle Award recipients provide strong examples of leadership, professionalism and achievement for future industry practitioners, said Michael Cornicelli, executive vice president of BOMA/Chicago.
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Tags: Awards, Estate Awards, Real Estate, Real Estate Awards
Jan 23
Do you have a master plan for your business? Can you articulate what you vision is for this year? The next five years? Tomorrow?
If not, it’s time to block off a little time. You may want to block out a whole day, or if you can’t do that – at least an hour a day until you get it done. You need time to get your plan down on paper (or word processor) and really understand where you are going with your real estate investment business.
Once you emerge from the cave, you should have a detailed plan for the following five areas:
Vision for your company
This is what you want your company to look like at the end of a year, two years, five years, etc. Five
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Tags: Business, Business Planning
Jan 17
Coppell may be a small city located in both Dallas and Denton Counties, but this DFW city enjoys a robust economy and a swiftly growing population. As such, Coppell new home communities are in high demand, and real estate values have seen steady increases, even during the height of the nationwide recession.
In addition to boasting many new home communities and countless amenities like shopping centers and public parks, Coppell has a number of fantastic community programs that support a strong community:
Community Gardens
The Coppell Community Gardens supports community gardens, as well as a farmer’s market and environment education. This community program is overseen by a group of dedicated volunteers who lend their time to provide a market for locally grown food and donate organic produce to needy families. T
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