Move Faster
Both first and second place runners ran under 2 hours at the London Marathon on May 3rd. It is truly an amazing effort with an average mile pace of 4:33. The first-place runner ran 1:59:30 with second place being all of 11 seconds slower.
Both wore adidas shoes weighing about 3.9 ounces. In addition, the endurance sport industry is now really focused on fueling and just how much sugary carbs a particular athlete can handle to keep their energy at the highest level possible.
This is a completely different mindset from when my brother John raced marathons in the 1970s. He barely drank anything, let alone consumed food along the way. In the 1980s and 90s, I focused on only consuming food and drink that I had practiced with, which was often focused on Gatorade. We still were not consuming much food during an endurance run.
With today’s technology, Adidas claimed the shoe delivered an 11% increase in forefoot energy return and a 1.6% improvement in running economy.
With all the excitement over this fantastic achievement, something still sits solidly in my mind. When all is said and done, it’s putting one foot in front of the other—it’s called running no matter how fast you run.
The timing of the race was right after Robert and Spencer attended the National Association of Residential Property Managers conference. At the conference, they were exposed to lots of “new technology.”
Some of which really only applies to property management companies who manage thousands of units, or companies that don’t want customers or clients coming to the office, or those who rely on AI to handle tenant communication, or using 1-800-maintenance instead of doing things the old-fashioned way with real people and real local relationships.
No matter how technology improves and makes things faster or more efficient, successful property management still comes down to creating relationships—creating trust with owners and treating tenants with respect.
It’s great AI can take a maintenance request, but at the end of the day, the goal is the same thing property managers have done for years: taking care of your property.
We believe the important difference is the personal touch, interaction, and relationship we build with you and the tenant. It might not be flashy, but just like running, it comes down to the basics.
Instead of one foot after the other, it’s one phone call, one good experience, and one built relationship after the other.
Rental Market
We are moving into the busiest time of year for tenant movement. Families often move when the kids are out of school for the summer, and it’s just about summer. I mean, who wants to move in a snowstorm?
We have had good rental activity as it’s cheaper to rent a home than it is to buy one. There are a lot of places on the rental market, so rents have been staying pretty steady when compared to last year.
However, like sales, it depends on the neighborhood and area of town. Like the past few months, it is taking longer to rent the smaller units than it has in the past.
Residential Sales
According to WFG National Title, the median list price for the past month was down, as was the average price per square foot.
The average time on the sales market before going under contract was down to 89 days, which is a number we like to see get lower, but it’s still higher than active sales markets I’ve seen in the past.
A telling sign of the current sales market is that, according to their data, 46% of the sales listings had price reductions.
The current sales listings I have are seeing an increase in viewing compared to last month, but still below what I expect to see for the middle of May.
I have had positive feedback on the viewings; however, buyers are in no rush and are looking—and looking—and looking for that perfect home and deal.
As the figure above shows, price reductions are a driving factor in today’s sales market. If you have questions, reach out to Rob@MileStoneRES.com. I am available to answer any questions you might have.
Know Your Insurance
Make sure you have MileStoneRES added as an additional insured. This allows your insurance and MileStoneRES’s insurance companies to work together if the need arises.
You should also check your policy to see if it covers “Code Upgrade.” If you have code upgrade coverage, the insurance company will pay for any upgrade required by today’s building codes and Pikes Peak Regional Building.
The other thing you should check is your deductible and whether it is based on replacement costs or actual cash value.
Many deductibles are now starting at 1% of the property value but can be higher, which would mean your deductible on a $400,000 home is starting at $4,000.
Please review your policy—don’t just renew it!
The Good Stuff...
Sign at a Bar
Polite Notice:
When leaving the premises, please remind our neighbors that drunk people have been loudly leaving this establishment long before they decided to buy houses next door to it.
Diner’s Life Lessons
The Two Unwritten Rules of Life
1.
2.
Tattoo Parlor
Get that tattoo,
Your family is already disappointed.
Animal Hospital
If cats could text you back,
They would not.
Real Estate Sign
Estate Sale 9am – 4pm
House Not Haunted
Cannabis Dispensary
Tariffs are high,
You should be too!
Have a great Memorial Day… it’s almost here!
