Foreclosures hit renters too!!

By
Real Estate Agent with RE/MAX Properties SW Inc

On an almost daily basis I meet renters who need a new rental because the current Landlord did not make the payments and the bank foreclosed on the property. There are even owners who never made a payment on the newly acquired home , still took the rental payments and let the property go into foreclosure. It is a difficult market with renters also having an unrealistic outlook on the rental income needed to hold on to  a property.

I warn tenants to be wary of homes with unrealistic low rents, you may need to move somewhere during the lease. Check the records and look for signs of neglect by the owner. It may well be a sign of things to come.

I expect the rental market to tighten and that will possibly result in more realistic rents for the property owners.

At that point renters may look to re-enter the depressed  market and start thinking about buying.

 It is good to think positive!!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Spam prevention
Show All Comments
Ambassador
2,521,966
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

We invite you back to ActiveRain in 2016!

     Much has changed since your last visit to ActiveRain.

      We encourage you to take a look at the "new" ActiveRain website!

Dec 17, 2016 06:21 PM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
4,546

Hans and Marilyn Welbergen

Realtors, Orlando Florida Homes Sales
Ask me a question
*
*
*
*