Home > Blogs > Diane Aronovic > Diane Aronovic's (darono) Blog

Own vs. Rent

Real Estate Agent with Red Lady Realty

December 07, 2010 04:26 AM

I saw a blurb today from a financial analyst saying that even the rich are turning to rentals now. I thought this was interesting for a few reasons. It does make a great deal of sense for people, including the wealthy, to rent vacation homes rather than purchasing. A vacation home is usually in a location far removed from one's home.

READ MORE AT: http://gunnison-crested-butte-real-estate.com/

(Crested Butte real estate agent Diane Aronovic is a former Managing Director at Bank of America Securities, and currently a real estate agent at Red Lady Realty in Crested Butte, CO)

Comments (5)
Subscribe to Comments Comment

Show All Comments

Sort:

Doug Laurent

Homefax Inspections, LLC - Minneapolis, MN

Mpls. & Extended Metro Area

In a flat market renting makes much more sense for a second home. Great flexibility and no risk in downward market spirals

Dec 07, 2010 04:31 AM

Karen Supman

Russ Lyon Sotheby's International Realty - Scottsdale, AZ

Partnering with you to live the lifestyle you love

Diane, it is true that vacation rental homes are popular. In AZ we have always had a strong rental market from Dec thru April. What we are seeing now that our prices have dropped about 40 to 50 % since the height of the market and the investors are swooping in to buy and rent them out. We are back to 2001 prices. Our taxes are very low. Interesting since we have a huge defecit. AZ does a huge tourist business in peak season.

In addition, most of our buyers come from Canada, followed by Minniapolis & Illinois. You can now get a 1 bedroom condo in Scottsdale for $50 to $70K that use to be $150K and up. 2011 will continue to offer great buys with all our shortsales and bank owned properties. How are prices in your market?

Dec 07, 2010 04:40 AM

Emcee M. Arah

Remax Excellence - Silver Spring, MD - Silver Spring, MD

Realtor w/Architectural Dimension, AHWD CRS B-Arch

I think renting is still a good way to go for someone who is not certain that they have a good credit score. Until they get anything negative off of their report and build their score a bit, it will only hurt them to try to purchase in this market without a good credit report.

Emcee

Dec 07, 2010 04:42 AM

Diane Aronovic

Red Lady Realty - Crested Butte, CO

Real Estate is an investment,choose a professional

Prices are down, but rental income is up. I think it is interesting that we haven't yet had the investors swooping in to buy great rental properties. I think it's something I will consider doing myself.

Dec 07, 2010 05:11 AM

Paul Gapski

Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA

619-504-8999,#1 Resource SD Relo

very good informative post. I willl have to consider all options in the rent vs own evaluation. Keep them coming.

Mar 19, 2011 03:29 PM

Older Post

Newer Post

Rainmaker
63,503