September 2011
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HENDERSON PROPERTIES

Henderson Properties Continues To Grow
Henderson Properties,  Charlotte’s premier full-service real estate company has acquired the rental property portfolio of Biseworld Realty.  The portfolio consists of approximately 70 single family and multi-family properties located primarily north and west of Charlotte.  The acquisition boosts the Henderson Properties rental property management portfolio to more than 600 units.

“Our roots are in rental property management and our growth strategy is on course. The rental market is booming right now and Biseworld’s portfolio will give us new homes to market and grow our rental property division,” said Phil Henderson President of Henderson Properties.

Jeff Beiser, former owner and founder of Biseworld Realty, selected Henderson Properties based on the company’s industry reputation for providing great service.

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RENTAL PROPERTY MANAGEMENT DIVISION

Rental Boom Boom Boom
Back to school time is typically a catalyst for home sales.   These days however more families are renting for a while before taking the plunge to buy. New research numbers show that a higher percentage of those who are relocating opt to rent first, this decision is due in part to the need to sell a current home before purchasing a new one.  Buyers want to make sure they have all issues with their existing home settled before they buy.  This new trend has resulted in a booming rental market.

Housing markets that have experienced the greatest decline in home values rank highest as the best markets for rental-property investors.  The Charlotte market ranks in the middle nationwide in the demand for rental property.

Higher unemployment rates and tougher lending practices leave potential buyers in need of rental homes more often and for a longer period of time.  Combined with falling home prices and rising inflation, rental real estate investing offers a promising opportunity for those with strong cash flows.  From locating, to purchasing, to managing, Henderson Properties is ready to help you maximize the opportunities available as a result of the changing market trends.

Henderson Properties is redefining excellence in Rental Property Management. We’re here with years of experience and smart business practices to help make your life easier!  Call 704.970.4145 or click here to discover what Henderson Rental Property Management can do for you.

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COMMUNITY ASSOCIATION DIVISION

Budgets And Boards
To operate a successful community association, there are many important facets of association governance that must be understood and implemented by the association’s board of directors. One of the most important facets is the budgeting process.

Serving on a board of directors is like running a small to midsize business – – with all of the decisions, exposure, and liability that accompany such a task. Of course, when running any type of organization, it is helpful when you can turn to the experts to ensure that everything is handled properly.  In the case of overseeing the operations of an association, you will want to turn to a community association specialist to make sure decisions are made in accordance with the associations governing documents and current laws.

The association’s governing documents determine when the fiscal year will end.  In most cases, the year-end will occur at the end of a calendar year, but this can vary by association. As with any well run corporation, a budget must be prepared prior to the beginning of the fiscal year.  For an association, a budget is extremely important since it establishes how the association’s income will be used to run the organization and perform necessary maintenance and repairs. Note that the only source of income for an association is the members’ assessments which must cover all of the expenses.  The budget process must be taken seriously and the budget should be prepared with a very detailed hand.

Whether you are experienced with the budget process or will be preparing your first budget, your Henderson Properties Community Association Manager will provide complete guidance as to when and how the budget process should go.  He or she will give you detailed information regarding the income and expenses from previous years; information that will prove invaluable as you prepare the budget for the coming year.

To learn more about the budgeting process or any of the other community association management services provided by Henderson Properties click here or call us at 704-970-4155.

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REAL ESTATE SALES DIVISION

So Is It Time To Buy?
There are some great opportunities in our market right now and we want to tell you about Homepath, a wonderful program you may not have heard of.

Homepath is a unique loan program that allows a borrower to purchase select Fannie Mae owned properties with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Properties that qualify for Homepath financing can be found at www.Homepath.com

Benefits to You, the Borrower:

• Low down payment(3% for owner occupants, 10% for second homes and 10% for investors)
• Down payment can be funded by the borrower’s own savings or a gift
• No appraisal required
• No mortgage insurance
• Available for primary residences, second homes and investment properties

Eligibility criteria:

• 620 (Primary) 660 (second home/investor) minimum credit score
• Minimum loan amount is $50,000
• 45% maximum debt to income ratio
• Maximum 6% seller contribution (2% for investors) for closing costs
• Must be a Fannie Mae Homepath eligible property

If you would like to see if you can qualify for one of these homes or if you have found a home that interests you on the Henderson Properties website please call the Henderson Properties Sales Office at 704-544-0253 and we will assist you in your purchase or email us at Sales@HendersonProperties.com.

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PROPERTY MAINTENANCE DIVISION

Maintaining Your Investment
It may not seem like it, but, yes summer is coming to an end.  It’s not too early to start thinking about colder months and protecting your home from the coming weather.  Here are some items that many of us put off for too long:

Sealing wooden decks. A properly sealed deck will repel water and increase the life of the deck by many years.  It’s an inexpensive process to protect and weather seal wooden structures, and it improves the street appeal tremendously.  If you didn’t do it at the start of summer, it’s not too late.

Failed caulking and weather stripping. The only thing worse than cold drafts in the house is the realization that we’re heating all that cold air that is supposed to be kept outside.  Caulking windows and doors really does save on utility bills, and improves the comfort we find in our homes.

Clear accumulated leaves and debris. The accumulation of leaves and debris on the roof’s valleys can often cause rainwater to enter the home by getting behind siding, and inside the home where more extensive damage can occur.  Keeping gutters clear of obstructions can prevent rain water from overflowing them, which only increases the chance for damage to occur.

Heating system. It’s much more convenient to know the heat is going to come on when we want it to, as opposed to rolling the dice.  An HVAC check-up can restore confidence that the system will work when it’s needed and will confirm that the system is running at its best performance and efficiency.  And don’t forget to change the filters.

Henderson Properties is Charlotte, North Carolina’s premier real estate firm. We are proud to offer residential maintenance services to the homeowners in our communities through the Henderson Properties Maintenance Division. We are committed to providing our customers with the highest level of service at a fair price. Henderson Properties has a passion for perfection.

Let the Henderson Properties Maintenance Team be your proactive partner in handling your preventative maintenance and home repair. We offer complete and affordable maintenance and repair services through our own in-house staff and extensive contractor contacts. The skilled maintenance technicians at Henderson Properties provide friendly service plus quality and value that can’t be beat, from a company that you know and trust. Let us work with you to maintain and preserve the value, beauty, and safety of your home. Click Here to contact the Henderson Properties Maintenance Division or call us at 704-970-4154.