It is a Landlord’s Market in Dallas Texas

Tom,

Good luck over there in the DFW area. I recently moved a good friend of mine from North Richland Hills back here to her hometown of West Monroe, LA. After having her NRH home on the market for 6 months, it finally sold. She lost $40,000 on it. Hope things get better in resale for you over there.

We are having the same exact scenario here in South Florida as well.

Sounds like you a real expert in that field.  The opportunity to purchase an investment property and have such a strong demand for rental property shounds like an investors dream to me.

Tom, 

It is so a LANDLORD market here.  Very little inventory and a quick lease period with mutliple well qualified leasees for each home.  (NONE of which are the folks that lost their home, but folks who are choosing not to buy now!)

All the best, Michelle

It is nice to see all posts are not about "soft" market. There are always spots that we can find demand! You have said alot here, great post!

Tom, I'm seeing the same thing in the Denver area market.  Prices are low enough for investors to be able to cash flow, and we are raising rents as leases expire.  It's a great time to invest in a rental!

Tom same is going on in the Phoenix/Scottsdale area. Listed one the other day and we've got at least 3 or 4 apps.  Not all are perfect credit - many folks here lost their home to short sale or foreclosure.  Credit is good except for that unfortunate happening.  They want to live in similiar type homes so our market has tightened up - a lot.

Wow Tom that is good to hear from an investor's point of view.  My wife and I are buying some investment properties right now in So Cal.  Prices and interest rates are so good that everyone should be buying right now.

We are seeing the same thing here in Phoenix.  We have such low inventory that the best rental homes rent so quickly that it's a blur!  Great post!

Rentals in NYC are white hot as well.  Manhattan currently has a vacancy rate of approximately, 0.86% and rents increased five of the last six months and are up about 8% Y-O-Y.  Cap rates are seriously compressed.  Almost everything is sub-5 in the city and 3.5 is not uncommon.  It's crazy what investors are willing to do to get into the multi-family sector in primary markets right now.    

We are definitely in the middle of a rental bubble caused by millions of homes sitting vacant before, during and after foreclosure and the millions of homeowners with runied credit.  There is no shortage of housing, though.  Once those vacant homes are sold, many will be turned into rental properties and many will become owner occupant homes.  That combined with people getting their credit in order will allow for more renters to become home buyers again.  This process will help the housing market find a bottom, but it will take a few more years at a minimum.

Rental market is the same here.  

In Denver Colorado the vacancy rate for single family homes is around 1.5%.

Here in CT we have the same.  I have a client who travels a lot who seems to lose out on the rentals, since they are claimed before he returns........   

We are getting far in excess of 10% cap rate on rentals around here.  If you have the money to invest now is a great time to buy rental properties.

Same for our area. Just curious if see the need for short term rentals. I've had a half dozen people need them, and there are none to be found. Seems that landlords could get some higher than average rates for those, but I guess they worry about potential vacancies in the long run.

What a wonderful, positive, upbeat post. I love it! I own aninvestment home in Aransas Pass, considering buying a 2nd in Texas. Keep me in mind...

Same for our area and I think for the future.  The first question I ask someone thinking of buying a home today relates to their stability.  The days of buying today and changing your mind tomorrow and coming out unscathed are over.  God forbid, I help another buyer dig themselves a hole they'll be calling me to get them out of but truth is no matter how many hard questions I ask in the beginning, there will be changes in their lives due to the constantly changing job market that work against them.  A good example is a home I helped a buyer settle into just 3 months ago.  Last week there was an article in the paper saying the company my buyer works for may be sold.  If that happens and the new owner takes those jobs elsewhere, there are not replacements for them here in Wilmington.  I'll get that phone call and the saga will continues...  One thing that is starting to happen in our area is that agent compensation for bringing a tenant is becomng more commoan.  In the past, I've done this wrok pro bono more often than not and I just don't have time for that today. 

It is definitely a great market for landlords here as well.  Such a great opportunity for investors and I don't think it will last much longer.

Great market for Landlords in SD as well. I actually have had close to zero vacancy on my properties in 12 years, so the market has always been pretty strong here.....but there is a silver lining to any bad real estate market (due to distress sales) and a strong market for Landlords is it!