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NOW IS THE TIME TO RENT?

By
Services for Real Estate Pros with RE/MAX Momentum

I know renting isn't exactly the American dream but with home values stagnate at best and money scarce this may just be the time to rent. Hardly a day goes by without someone calling our Brighton office looking for a single family rental in Brighton, Commerce City, and Thornton almost anywhere in the north suburban corridor. So many peoples' lives have changed over the past three or four years and are in a position where moving would greatly benefit them but selling just isn't a good financial option. With plenty of ready and willing tenants leasing their property gives these people the flexibility they need without having to absorb a finical lose to get there.  At RE/MAX Momentum we have a professional management division to help us provide a more complete and rounded service to help everyone in today's complicated market.

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Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

For some folks it makes more sense to rent than to own. It really depends on each person's situation.

Jan 25, 2011 02:40 PM
Dr. Stacey-Ann Baugh
Century 21 New Millennium - Upper Marlboro, MD
A doctor who makes house calls.

I definitely see a lot more rental activity right now than sales.  In DC it's actually cheaper to buy than rent right now though.

Jan 25, 2011 02:43 PM
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Good to see you guys are helping the market from all angles, Troy.

The latest reports show that in 72% of markets, it's actually cheaper to own than rent.  While sellers losing equity is a major concern, it's likely the next home they buy will also come at a steep discount (and with very low interest rates!).

In my market, I'm seeing a lot of lease-own agreements

Jan 25, 2011 02:48 PM
Joyce Herr
Prudential Lancaster Real Estate - Lancaster, PA
Lancaster County & Beyond

There are a lot of rental requests over the past year.

Jan 25, 2011 02:49 PM
chuck magee
https://raisetherank.com - McComb, MS
Raise the Rank

I am afraid you are right and things might not change for a few years to come, it is to bad things had to get like they are now but ten years from now it might be for the best if people change and change Washington, Thanks Chuck

Jan 25, 2011 02:51 PM
Diane Lynch
Realty Executives Premiere - Warrenville, IL
Real Estate Broker

It's actually a lot cheaper to rent than own in downtown Chicago. I own a condo there that costs me $2600 per month, but I can only get $1950 in rent. Assessments and taxes are the killer. So the only reason to buy would be for equity growth which is pretty much non-existent right now! Sigh!

Jan 25, 2011 03:04 PM
Troy Hageman
RE/MAX Momentum - Brighton, CO

John your %100 right. Most houses we lease can be purchased for less than the lease price thanks to %4 loans and decreased values but its become so difficult to find a loan on good terms. I have a terrible ratio of lease options coming through in the end and would love some insight. Lots of people are looking for just that and I don't think I am doing a good job of offering it.

 

Jan 25, 2011 04:57 PM
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