An interesting conversation happened to me yesterday. I had to accompany an agent who I worked a deal with before, a really nice guy.  He said, "How are thing's going for you?"  I said, "Well, I did three rental's this week, people seem to prefer renting right now instead of buying."  He said, "Yes, I agree with you...what am I showing now?" It was one of my rentals that I have to accompany on.

Are you finding that more and more people are renting vs. buying in this current market?

Why?  They are waiting for the market to change.

Why wait? Rates are low?

What are your customers/clients doing in the current market? Just curious as to your opinions.

http://www.KarenMonsour.com, cell 954-464-4194

 
Post is included in group: Realtors®
Post is included in group: Commercial Real Estate
Post is included in group: Letters to Realtors,Attorneys,CPA's,Credit Bureaus

16 Comments on What are your customers/clients doing in the current market? Renting or buying?

The only buyers I am working with are investors who want foreclosures and "the best deal" they can find to either rent or resale. They are a lot of work, but pretty much all I have at the moment.  Take care.  Terrie

04/27/2008 09:51 PM by Terrie Leighton (Ferrari-Lund Real Estate)

Karen,

I find the buyers are scared.  They see fuel prices soaring to record highs and it's showing up in just about everything we buy. 

There are no rentals in my area.  Every apartment complex, duplex, and townhouse is filled.

What next???  Will be interesting to see. 

 

04/27/2008 09:53 PM by Linda Lipscomb RE/MAX Lexington Henderson County TN

I have had buyers, but again, looking for deals, but I have also noticed an increase in rentals, of course, they can turn into buyers!

 

 

04/27/2008 09:54 PM by Retha Arrabal (Hogans Agency, Inc)

Terrie,

You know it girl friend, it's a scary time right now.  Trust me, I have some investor's as well.  The problem that I am finding is they are trying to work with multiple Realtors(R)...

 

04/27/2008 10:00 PM by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)

Linda,

Half of my listings that are for sale have decided to try and rent in this market...they are desperate...some for family sitations, not foreclosures...it's a sad situation. Thank you for posting.

04/27/2008 10:02 PM by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)

Retha,

You are right, keep them close and keep in contact...Everyone is scared right now!

04/27/2008 10:03 PM by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)

In Central New Jersey, I have been pretty busy with sales.  I am also VERY busy with rentals.  I have done more rentals in the first few months of this year than I had done in the previous two years combined.  Home sales are picking up though.

04/27/2008 10:20 PM by Lisa Friedman Central New Jersey Real Estate (Pinnacle Realtors)

Lisa,

Good to hear...this is probably your season...Glad to hear the home sales are picking up...thank's for your post!

04/27/2008 10:33 PM by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)

Kare, it's about 50-50 with me for renters and buyers. Definitely I have more buyers looking, but it's about even with closing deals.

04/27/2008 11:00 PM by Jim Albano (Prudential Damiano Realty)

Jim,

You are so right, it's about closing deals. My prayer's are with you and your Mother as well.

04/27/2008 11:06 PM by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)

Karen- I have clients renting and buying.  The clients that are renting are RELOs and have not been able to sell their out of state homes, many being on the market for a year or longer.  My buyers are taking longer to find a place or just beginning to look with a home to sell.

04/28/2008 06:27 AM by Laura Karambelas-Chicagoland Real Estate (Baird & Warner)

That multiple realtor thing is a fun one!  Terrie

04/29/2008 12:39 PM by Terrie Leighton (Ferrari-Lund Real Estate)

Many are entering in lease purchase transcations due to stringent morgage programs.  However, this market has no choice but to sift through and find the serious buyers.

Jo Newton

05/05/2008 10:56 AM by Josette M Newton, Property Management (Choice One Realty Group)

Laura,

It's tough on the one's who have to relo. due to job transfer's if they own a home.  They will take a hard hit unless the choose a lease option/purchase in this crazy market.

05/05/2008 06:56 PM by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)

Terrie,

Multiple realtor?

05/05/2008 06:57 PM by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)

Josette,

I like that, sift through and find the serious buyers comment.  Do you find it difficult to get your seller's to use that option?

05/05/2008 06:58 PM by Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)

Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime! (EXIT Team Realty)
Karen Monsour,REALTOR® Broward,Palm Beach,Miami/Dade! 954-464-4194 anytime!
Fort Lauderdale, FL
More about me…
EXIT Team Realty

Office Phone: (954) 464-4194
Cell Phone: (954) 464-4194
Email Me
Common issues with real estate. It is, what it is! Let's address the everyday issues! From, the positive agent in South Florida! ,