Renters WILL Dig Deeper in 2007

For the last few years, apartment complex owners and landlords have not been able to increase rents due to the fact the interest rates were at an all time low and tenants were moving our in droves, buying their first home.

Let's talk about the law of supply and demand: Because landlords were losing money, a substantial number of complexes have been converted to condo's, so the availability of apartments to rent is at an all time low.

Projected rent increases of 5% to 14% may just be the ticket to help more homes to sell to apartment dwellers this year (2007).

For more information on how to purchase your first home, receive FREE Grants offered, participate in various county 1st Time Home Owner Parnership Programs and much more please read my Blog on money available and the needed criteria.  OR please call my office at Keller Williams Real Estate, LLC/BENCHMARK PROPERTY ADVISORS at (303) 350-1781.  If you would like to view homes on the Multiple Listing System (MLS), please visit the web site www.RockyMtnMLS.com and give yourself a personal protected password and set YOUR propety search criteria.  Remember, you can change your criteria anytime, save property to your notebook, review photo's, location, map, tax information, room sizes and much more.  Always feel free to call me at (303-350-1781 should you have any questions or would like to be shown property. 

 

3 Comments on Renters WILL Dig Deeper in 2007

We're raising rents as well.  Also seeing significant increases in new multi-family construction permits.

04/07/2007 09:25 AM by Coeur d'Alene Idaho Homes - Come Live The Life Style - Christina Ethridge (David Swarat's North Idaho Dream Team (GMAC))


Bob - The general tightening in loan guidelines will eliminate 10-15% of the 100% financed, Alt-A, and sub-prime market. As a result some who would be renters will result to being renters. I also know that with record foreclosures across the country, we are going to see some homeowners become renters.

I think buying property for rental purposes is a good strategy in this market.

James

04/11/2007 09:10 PM by Chartwell Mortgage Corporation


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Real Estate Agent: Bob Speaker Colorado Real Estate (Keller Williams Real Estate/Benchmark Property Advisors)
Bob Speaker Colorado Real Estate
Parker, CO
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