Special offer

My Perspective in the 2nd Quarter of 2010 Rental Market

By
Real Estate Agent with HG Real Estate Services

Many local people are under the misconception that "homes are a dime a dozen" and owners should lower their rental rates because there are so many homes available.  Well, I'm here to tell you that it's tough to find a home to rent these days.  The neglected, unkept homes throughout our area, abandoned by the homeowner or in limbo between the banks, lenders and homeowners are not on the rental or sales market.  These homes, which are slowly becoming mold infested pig-styes, are not available for rent, for sale and soon, won't be habitable for anyone. 

All the homeowners who have abandoned their homes have to live somewhere, and there's just not too much available housing left.  I get tons of calls looking for a 3 bedroom 2 bath home for $8-900 per month.  When I get one, it rents right away.   Wake up people....we have a housing shortage now!  It's crazy that the market goes from over-supply to shortage in just 12 months, but that's what we're seeing. 

Be prepared to pay a little more for housing if you must rent.  Lots of people are going to need rentals!  They can't buy with their damaged credit and lowered income due to job losses and cutbacks. 

 

Comments (0)