Whether you are looking to buy or trying to sell.. we all end up dealing with a rental situation. I remember my first place. It was a 450 square foot, Lake City area rental. It was very cozy to say the least :)
I have recently done some rental searches for some clients and found out some interesting information you might find interesting.
There are some homes in the Shoreline area going for between just under $200,000 to $275,000. I did some math and calculated that with a modest down payment of 5%, the monthly mortgage payments wouldn't be too much higher than the going rental rates. Right now, homes are going for near discount prices, and if you want to get in on all the opportunities, I'd say now is as good a time as any to look into it.
On the other hand, many Shoreline area home owners are opting to lease their homes rather than sell at a reduced price, and renters now have a bigger variety of homes to choose from.
In the last 6 months, 23 homes have been listed in the Northwest Multiple Listing Service (NWMLS) and rented for an average of $1,605/month.
The lowest active rental price is $1,195 for a 2 bedroom, 1000 sq. ft. home, and the highest is $2,600 for a 5 bedroom home. Most of these properties offer 12 month lease term, but most property owners are willing to negotiate on terms.
The Egerer & Weidauer team can help would-be sellers look at alternatives to current market conditions.
206.661.7256 www.jeremyandnicolesellhomes.com 360.990.4083
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