Maybe it's a good time to consider renting instead of selling?

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Services for Real Estate Pros with houses for rent, Solano County & Glen Cove 01870024
https://activerain.com/droplet/lkn

Maybe it's a good time to consider renting instead of buying?

Times are tough, we all know it. California seems to be taking as big a hit as anywhere else, if not worse.

In Benicia and Vallejo there are For Sale signs in every neighborhood.  The areas are nice, the homes in good condition, some of the homes are nearly new.  The schools are great, the communities vibrant.  But, here and there you can see that folks have have either chosen to walk away or worse.

Hard to stand out in the crowd...

Sell vs rent sign

 

Yet, the rental market in Benicia and Vallejo is very strong.  With fewer owners, more people are turning to renting.  Those fortunate enough to be in a good position are the ones buying now.  Any many of them are buying with the intention of renting out the home. 

I was struck recently when the Broker of a large local real estate company retained us to rent out his home.  His words to me were "I can sell now and take a bath or I can rent it out until the market gets better."  These words came from the mouth of a man who has made a living selling homes. 

So, maybe, just maybe, his words are wisdom for other folks to consider.  Maybe it is a good time to at least consider renting out your home instead of trying to sell it right away. 

With all of the For Sale signs, you might get lost in the crowd.

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Wallace S. Gibson, CPM 09/01/2011 11:04 PM
Topic:
Real Estate General Information
Location:
California Solano County Benicia
Groups:
Property Management
Almost Anything Goes
San Francisco Bay Area Real Estate
Bartender, Make it a Double
Tags:
benicia rental homes
vallejo rental homes
vallejo property management
benicia property management
benicia rental houses
vallejo rental

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Rainmaker
855,169
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

Many of the people who went through bankruptcy are now about to be ready to reestablish and get back in the market.

Sep 01, 2011 06:04 PM #1
Rainer
150,221
Nick Smith
Silvercreek Realty Group - Boise, ID
Boise Idaho Real Estate, We Love Boise

If everyone is selling, I will be buying. If everyone is buying, I will be selling. With price down and Mortgage rates at all time lows, there has never been a better time to buy.

Sep 01, 2011 06:08 PM #2
Rainer
59,174
Kym Wright
Prudential California Realty - Olivenhain, CA

Mark,

I will say that if my client can afford to keep their house, I am giving them rental information for their area to show how well rentals are performing and they are turning to renting to see if the market turns around.  Some though do not have enough equity to get a new loan and keep their current house. It is a shame they are penalized!

Sep 01, 2011 06:08 PM #3
Ambassador
2,150,293
MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

For those who can afford to wait it out and are careful about who they rent to, renting can be a good option now.

Sep 01, 2011 06:42 PM #4
Rainmaker
1,248,358
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I am now RENTING to local property owners who want to MOVE and change school districts; get closer to work and family; need to UPsize for additional family members.  They want to KEEP their current homes and rent them and move into MY rental properties.

GREAT BLOG!

Sep 01, 2011 10:59 PM #5
Rainmaker
421,184
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Mark, 

Renting is a great option, but sometimes folks have a bad perception of tenants and can't get there emotionally!  We recommend it when it helps them reach their goal and makes sense - like a new school district, bigger home, not taking a total bath on their current home.

All the best, Michelle 

Sep 02, 2011 02:05 AM #6
Ambassador
3,122,547
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

So funny.  I just commented on another post where the author was lamenting underwater home owners being stuck in their homes.  I suggested renting those homes out was the only way to beat the system.  Buy low and sell high.  I see I'm in good company with my thought process.

Sep 02, 2011 04:14 AM #7
Anonymous
Heather Esmond
That's a good idea maybe I will consider renting instead of losing money by selling. Thanks for the food for thought!
Sep 02, 2011 06:26 PM #8
Rainmaker
1,248,358
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Mark * I wish you had allowed a REblog on this and made it a public post to catch some Google Juice.  Inman News just wrote that RENTING may save the real estate market.

Sep 03, 2011 12:08 AM #9
Rainmaker
2,397,721
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

It's another great blog post Mark, and you may have just answered some tormented home owner's prayer. I'm glad you made it public too.

Sep 14, 2011 03:43 PM #10
Rainer
205,520
Mark Delgado
houses for rent, Solano County & Glen Cove - Benicia, CA
Benicia and Vallejo, Property Management, rental h
We continue to see this trend and will likely see it for some time to come. There really are situations when folks would be better off renting instead of selling or walking away.
Sep 14, 2011 04:56 PM #11
Anonymous
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Apr 20, 2012 01:50 AM #12
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Mark Delgado

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