Foreclosures are an ever changing business in Oregon. Click on the video above to get a quick update.
Tips for Preparing Your Home for Sale
Josh walks us through helpful tips to prepare your home for showings. One of which is removing 1/3 of the items from key areas in your home. Watch this video for some additional helpful tips.
Commercial Real Estate Leasing 101: What is a NNN or triple net lease?
When dealing with commercial real estate, we are often asked what does NNN mean? To help shed a little light on this question, I’ve given a brief overview of what NNN means and how they pertain to a tenant in the leasing of commercial real estate. This information does come with a caveat: ALL LEASES ARE DIFFERENT. We strongly recommend consulting with the appropriate professionals (attorney, CPA, etc.) prior to signing any commercial lease agreement. I am a principal real estate broker licensed to conduct professional real estate activity. I am not an attorney or CPA and even after many nights in a Holiday Inn, I still cannot convince the licensing authorities to allow me to practice law or accounting:) And we’re off!
“NNN’s” (triple nets) are also called CAM’s (common area maintenance fees). These typically refer to costs incurred by the landlord for owning and operating the building. Generally, these costs are property taxes, insurance, exterior building maintenance, and common area maintenance (landscaping, shared bathrooms, parking lots, common hallways, etc.) The common area maintenance and what is included as common area, varies by property. The reason you see NNN’s expressed on a per foot basis is because tenants are only responsible for their pro-rata share of the owner’s expenses. The NNN’s are always estimated due to potential fluctuations in owner expenses. Many leases require the landlord to reconcile the expenses annually and provide accounting of the expenses to the tenant. Most leases have provisions for reconciling the amount paid by the tenant and actual landlord incurred expenses, in the event the annual NNN amount paid by the tenant varies from the actual expenses incurred by the owner. Two other items are important to note when looking at NNN leases: 1.) The NNN expenses can vary greatly from property to property and 2.) In a true NNN lease, the tenant is still responsible for all of the tenant’s utilities (i.e. power, water, sewer, natural gas, etc.)
This should help explain the mystery of NNN’s. As with any topics discussed on our site, please don’t hesitate to contact us. We’re here to help.
Strategic Realty Support Healthy Beginnings in the Grin & Bear It Run
Strategic Realty was off to the races, the “Grin & Bear It Run” to be exact. After months of preparing and training, the Strategic Realty team finally participated in the run last Saturday, March 9th. Kerry O’Neal, Josh Hansen, Laura Lynn, BJ Schuster, Michelle Slivkoff, and Bill Slivkoff were the members of the Strategic Realty team that entered the race. Kerry O’Neal and Laura Lynn were brave enough to endure the 10k run (6.6 miles) with both finishing the race at a respectable 1 hour and 20 minutes. Michelle Slivkoff, Bill Slivkoff, and BJ Schuster each ran the 5k (3.3 miles) and finished the race in 41 minutes.
The event was preceded by Family Fun Fair. Josh Hansen created and manned a carnival booth for the participating families and children. The ‘Tootsie Rolls’ were a huge hit with big smiles on kids’ faces and adults!
Overall, Strategic Realty was proud to sponsor and run in the Healthy Beginnings “Grin & Bear It Run.”
We are excited to have been a part of such a worthy cause that assists hundreds of young children in the Central Oregon area. We hope that you continue to follow us on Facebook as we prepare for our next event our, Chamber Ribbon Cutting.
Save the Date: Thursday, April 11th from 4:15 to 5:15
Location: Strategic Realty Office, 141 NW Greenwood Ave Suite 100
Running…a fever!?
I thought that people who ran, exercised and ate healthy were less prone to catching silly colds, the flu or nasty viruses that always seem to be lurking around the corner. However, it seems that my reasoning and assumptions are completely incorrect. This winter I have seemed to catch every version of the cold that has been floating around Central Oregon. Even though I have increased my exercise regiment (working out at a minimum of 2 days a week), improved my eating habits and have actually been getting a solid 7 hours of sleep every night.
However despite all of my life style changes I still happened to catch this nasty cold. The past few days I have spent sniffling, sneezing and hoping that this cold will pass! Sadly with the run being tomorrow and my cold still looming I am not quite sure what will happen when that starting buzzer sounds. It is disheartening to have spent months preparing for a competition and days before the event being unsure about how I will perform with this pesky cold. So, after work today, my hope is to get plenty of sleep, lots of nightquil and hopefully waking up tomorrow morning ready for the run that I have been preparing for! I feel pretty confident that no matter what happens between today and tomorrow at the very least I will be walking to represent our company and a cause very close to my heart (You may not know this but I serve on the Healthy Beginnings Board).
So, if any of you have any free time tomorrow morning stop by the Les Schwab amphitheater to come and visit us. We will have a booth so you can meet us and cheer us on as we all attempt to support Healthy Beginnings.
Michelle’s Treadmill Misadventures
There are many moments in my life where I feel that I have a propensity for physical comedy. Being extremely uncoordinated I have taken more slips and spills than I care to admit. However, my most recent meeting with ungraceful catastrophe was to funny to not share.
A few days ago, I jumped on the treadmill excited to begin my run. As I went to plug in my headphones (I enjoy watching the Jeff Probes shows as I jog) I realized that my headphones were in a knot. So I set the treadmill for a fast paced walk and began to untie the Gordian knot. During my brisk walk, I stopped focusing on the movement of my feet and began over analyzing this knot which only seemed to become more tangled. While my mind strayed away from the world, I failed to notice that the freed part of the headphones cord was now dangling dangerously near my feet. The cord loomed closer and my feet became tangled. Still unaware I continued walking with the cord under toe, this sent me reeling backwards. I felt much akin to a cartoon character who trips on a banana peel. However, unlike a cartoon character I was on a moving belt.
Falling backwards and losing my balance, I flailed my arms for dear life. Flailing and falling I must have looked like a wounded bird unable to take flight. Gruesome thoughts of being devoured by the belt crossed my mind as I reached with my arms to grab onto something. I some how found my footing, grabbed the side of the treadmill and miraculously hit the emergency stop button only seconds before being flung off. To my surprise the treadmill stopped and my horrific thoughts of being gobbled up my the moving belt ended.
Needless to say I completed untangling my headphones before proceeding to turn on the exercise machine of doom. Moments likes these make me wish I was on a realty TV show in order for others to watch my ungraceful antics.
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