Tag Archives: City Property Management

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New Homeowners Confidence Survey For Metro Phoenix Debuts

 

Sellers are in short supply. Home prices are still low. Neighborhood parks rule.

There are countless studies and surveys on Arizona real estate. Very few have the diverse data that can only come from Arizona’s largest locally owned homeowners association property manager, City Property Management; and expert analysis from the Valley’s top economists at Elliott D. Pollack and Company.

These two real estate experts have teamed up to publish the Pollack-City Property Management Homeowners Confidence Survey. This first edition contains data for the first two quarters of 2013. Subsequent editions will be published quarterly.

Perhaps one of the most startling findings is that less than 3% of the residents surveyed plan to sell their home in the next three months.  The survey also shows 47% feel home prices are still too low, while 45% say they are about right. Only 8% feel home prices in Arizona are too high.

The survey also finds that Pulte Homes, Shea Homes, and Fulton Homes have some of the highest favorable ratings in the state.

The data for the survey came from neighborhoods in the nearly 300 homeowners associations managed by City Property Management.

Almost 450 residents responded with 39% in the Southeast Valley, 4% in the Northeast Valley, 19% in Phoenix, 30% in the West Valley and 7% from the balance of the State (including Pinal County and Yuma County).

39% of those surveyed purchased their homes new while 61% bought from a previous owner. 81% of the respondents reside on the property full time.

The Survey also found that:

>> 62% feel a neighborhood park is the most important community amenity

>> 37% plan to start a home improvement project in the next three months

>> 11% plan to refinance in the next three months

This is the first quarterly survey.  Over time, as more surveys are completed, analysts will be in a position to spot emerging trends.

The survey also found that residents are equally divided on HOA’s. 34% are satisfied or very satisfied with the experience of living in a community with an HOA. 31% are not satisfied. 35% are neutral.

“The quality of a survey is a function of the quality of the questions asked and the statistical significance of the survey based on the number of respondents relative to the sample size,” Elliott Pollack said.

“City Property Management has provided us with high efficacy respondents from a diverse collection of neighborhoods and a meaningful number of responses.  As a result, we will have a unique insight as to the mood and tone of the Valley real estate market.  As we do more of these quarterly surveys, we will be able to shed light on trends from the homeowner perspective.”

“We are proud to be managing HOA’s in neighborhoods with so many active, engaged and knowledgeable residents,” said Brian Lincks, President of City Property Management. “We are thrilled a team as knowledgeable as Elliott Pollack and Company has the skill and the resources to make the best possible use of this database.”

To view the entire survey visit cityproperty.com/homeownersurvey

Fresh Water is Becoming Scarcer with the Planet's Changing Climate

Experts Offer Water Saving Tips

Now that summer is in full swing many of you are experiencing sticker shock as you open those water bills. There are some ways to save some water and save some money without emptying your pool or turning your yard into a barren wasteland.

City Property Management oversees nearly 300 homeowners associations in Arizona and understands that most homeowners have the desire to save water, save some green, and plant something green.

Think before you plant. If you are landscaping or re-landscaping your property remember you live in the desert, but that doesn’t mean you have to limit yourself to cactus and rocks.

A Mexican Blue Palm makes more sense than a Queen Palm. An Acacia tree uses much less water than an orange tree. A Brittle Bush produces leaves all year long and uses much less water than a typical juniper.

If your landscaping is in place with plants that require moderate or heavy watering, there are still some ways to save water.

* Make sure your sprinklers are adjusted so you are watering the lawn and not the sidewalk
* Water in the morning or in the evening when temperatures are cooler to reduce evaporation
* Split lawn watering times if you have excessive runoff
* Use mulch around trees and shrubs to help your plants retain moisture
* Direct water from rain gutters and air conditioners to water loving plants
* Regularly check for leaks on automatic drip systems
* Consider a pool cover in the summer to reduce evaporation
*  When backwashing your pool, use the excess water on landscaping

“Where possible, we encourage the use of low water trees, shrubs and grasses in the associations we manage,” said Brian Lincks, President of City Property Management. “But that doesn’t mean these associations have to sacrifice aesthetics. There are countless green plants that flourish in our desert. There are also countless ways to save water and save a few dollars in the process.”

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Pollack-City Property Management Homeowners Confidence Survey Results

A team of real estate experts teamed up to create a “homeowners confidence survey.”

The data, which was complied by City Property Management and Elliot D. Pollack and Company, exposed three trends in homeowner sentiment:

Sellers are in short supply. Home prices are still low. Neighborhood parks rule.

The first edition of the Pollack-City Property Management Homeowners Confidence Survey contains data for the first two quarters of 2013. Subsequent editions will be published quarterly.

The findings showed that less than three percent of the residents surveyed plan to sell their home in the next three months.  The survey also shows 47 percent feel home prices are still too low, while 45 percent say they are about right. Only eight percent feel home prices in Arizona are too high.

The data for the survey came from neighborhoods in the nearly 300 homeowners associations managed by City Property Management.

There were 447 residents who responded, with 39 percent in the Southeast Valley, four percent in the Northeast Valley, 19 percent in Phoenix, 30 percent in the West Valley and seven percent from the balance of the State (including Pinal County and Yuma County).

Of those surveyed, 39 percent purchased their homes new, 61 percent bought from a previous owner, 81 percent of the respondents reside on the property full time.

The survey also found that:

  • 62% feel a neighborhood park is the most important community amenity
  • 37% plan to start a home improvement project in the next three months
  • 11% plan to refinance in the next three months

This is the first quarterly survey, and the analysts said that they plan, after conducting more surveys, to spot trends.

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Commercial Community Management: Phoenix Firm Excels at Dealing With the Complexities

 

In just about every commercial community, controlling costs is a major concern. With foreclosures mounting, maintenance expenses growing and collections becoming a bigger problem, you’re dealing with more issues than ever before when you work in a commercial office complex.

As 30-year professionals in community association management both on the residential and commercial side, locally and family owned City Property Management is proving why commercial community management is just as important at the office as it is at home. CEO Patti Garvin of Phoenix-based City Property Management explains how the company she founded decades ago continues to grow on the commercial side in a Q&A with azbigmedia.com.

Q: Most people recognize the name City Property Management on the residential side as it pertains to HOA management in Valley. What is your company doing on the commercial side?

A: The vast majority of our business tends to be singe family neighborhoods and residential condominiums, but what most people may not realize is that many offices and office plazas are a condominium association as well. The disconnect seems to be that most often a condominium is a residential dwelling.

However, Office Condominium Associations come with similar governing documents, rules regulations and operational needs to suit a very unique membership. Keeping the common areas of an office condo is just as important as a residential community with regards to values and confidence from a consumer/client standpoint.

Q: With the upturn in the real estate market do you see the commercial side of your business growing in years to come?

A: We do. We are already seeing signs of life in the commercial construction market, even an adjacent property to our own office condo is being constructed and scheduled to be occupied by a large national employer just this quarter.

My personal take on the commercial recovery is a two part answer 1) homeowner confidence should translate to a more robust economy thus producing stronger demand for commercial property and 2) with the anemic interest rates available at the bank, a potentially overheated stock market, investment capital will be looking for opportunistic alternatives, such as a depressed commercial market.

Q: Why do commercial properties need a company like City Property Management? How can commercial properties boost their collection fees?

A: Many commercial property owners tend to be involved operators and busy with the day to day operations of their own businesses. Property management is our day to day operation and we bring to the table valuable resources that prove very equitable and beneficial to office condominiums.

Our personnel are seasoned, some as many 30 years’ experience have the extensive knowledge in communication, maintenance, service providers, budgeting and guidance that can prove very helpful to owners and boards of office condos. Knowing proper collection procedures, sometimes with the assistance of attorneys, and knowing when to expend the money to collect, and when to cut losses is one way to effectively boost overall collections.

Q: As maintenance expenses grow and collections becoming a bigger problem, what issues is your company dealing with that you haven’t seen in the past?

A: Currently the state of most associations is much better than the previous 3 to 4 years where there was much more financial turmoil and delinquency issues. Through the difficult years there had been drastic changes and reductions in services and reserve contributions to counter the lack of projected cash flow, so expenses needed to be reduced to be in line with income. Now that cash flow seems to be more stable, associations need to reevaluate long term goals and capital improvements and account for proper reserve funding and maintenance implementation.

Q: Where do you see the future of property management going in the future here in Arizona?

A: Being an innovator in our industry with regards to implementing technology, I think that property management will run hand in hand with many sectors using technology to enhance efficiency and productivity. Twenty years ago checks were hand posted and managers used clipboards and Polaroid cameras, Today it’s much faster paced with the use of social media, smart phones, tablets and email. Our proprietary Association Management Software provides an unparalleled level of transparency to owners and is accessible 24/7/365.

Owners can now view statements, documents, pictures as well as specials offered from local businesses. I feel that it will be increasingly more efficient and transparent, with much positive light to be shined on our industry for overall customer satisfaction.

rsz_patti_gavinPatti Garvin started in the property management industry in 1979 managing a portfolio of 250 rental units for ERA Realty.  In 1981 she was recruited to work for the Don Lawrence Companies and started her career in the HOA management industry. In 1985 she took out a small loan and purchased into a partnership at a small Mesa-based full service real estate company called City Property Management. After a series of internal acquisitions she became the sole owner of City Property Management in 1992. Visit cityproperty.com for more information.

 

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City Property Management retained to manage five new communities

There may be more evidence the economy is rebounding.  Construction of new homes in Arizona subdivisions is rapidly rising and as a result, Valley and family owned City Property Management is now servicing five more communities.

Vice President Brian Lincks announced City Property Management will now be managing and servicing five more Arizona Home Owners Associations.  Lincks says most of communities are new construction with the exception of one Flagstaff Community which was recently purchased by an investment group to further improve the property and return it to fair market value.

“This is good news for Valley residents and businesses,” said Lincks.  “Our communities are growing and with every new home being built that means new jobs are being created.  Here at City Property Management we see it as an opportunity to preserve another neighborhood and help keep those home values on the rise in Valley neighborhoods.”

The new communities include – 151 homes in “Higley Manor” by Meritage Homes in Gilbert; 1,127 homes in “Hastings Farms” in Queen Creek which is a master planned community by William Lyon Homes, Circle G communities and Cresleigh Homes; 914 homes in “Lehi Crossing” by William Lyon Homes and Taylor-Morrison homes in Mesa; 88 lots in “Saguaro Estates,” which is a Toll Brothers project in Scottsdale; 204 Condos in the newly refurbished “Timberline Place Condos” by Via-West in Flagstaff.

City Property currently manages more than 270 homeowner associations in Arizona, some for as long as 20 years.  Lincks says residents often have peace of mind knowing a Valley family with more than 160 employees is managing their day-to-day comfort as well as the long-term preservation and enhancement of their neighborhoods.

“In just about every community controlling costs is a major concern. Even with the new construction, we still have foreclosures and that can mean mounting maintenance expenses,” said Lincks. “Our job is to tackle those issues so our communities can focus on the BBQ’s and neighborhood events that keep us all loving where we live.”

City Property Management is located at 4645 E. Cotton Gin Loop in Phoenix, Arizona 85040.  For more information, call 602-437-4777 or visit http://www.cityproperty.com/.