More Investors Become Landlords

Scores of real estate investors are assuming the role of landlord, looking to turn a profit by renting out their properties. However, landlords must handle several responsibilities aside from collecting monthly rents. As a landlord, you must locate tenants, which can be difficult in markets where investors aggressively compete for renters. Such competition, coupled with an increase in home sales, can force landlords to discount rents. You must also draw up leases, keep track of income and expenditures for tax purposes, obtain adequate insurance coverage and make repairs as necessary. Consider assembling your own network of professionals who can help -- such as attorneys, accountants, plumbers and locksmiths. And if the property is not nearby, you need a property manager.

Source: Investor's Business Daily

Top 100 Best Places to Live

MONEY magazine and CNN/Money came out with their Top 100 "Best Places to Live" this week, with four Florida cities making the list: Ponte Vedra Beach (No. 50); Lutz (No. 63); Hollywood (No. 70); and Lake Mary (No. 86). After reviewing more than 1,300 cities in the U.S., which town ranked as No. 1? Moorestown, N.J. Meanwhile, Marco Island came in at No. 2 for the city with the lowest commute time, based on cities with a population of more than 14,000 with above-average income, population growth and real estate appreciation during the past five years. Want to check out the complete list? Go to: http://money.cnn.com/best/bplive/index.html.

July Home Sales

The frenzied pace of existing home sales in Florida eased in July with a total of
21,669 homes changing hands for an 8 percent decline, according to FAR.
Meanwhile, the statewide median sales price rose 33 percent to $252,300. The
national picture was similar: Sales of existing single-family homes decreased from
record levels with a double-digit increase in median price, according to NAR.