Redwood City real estate rental market is changing
Redwood City Rental Reports Point to Higher Rents
Renters may return to the home buying real estate market in Redwood City as indicators point to a continued rise in rental prices. Trulia real estate tracker data, states the choking of?available homes in the rental market. Over the past 3 months rents have soared and vacancy factor are at an all-time low of less than 1% in some areas. In May rents rose 6%, in April rents were up 5.4% and April saw a 4.8% increase. In San Francisco rents have increased 14.4%, which is the highest in the United States and double over the national average.
Rents are not only increasing at an unheard of pace but they are spreading to outlining areas of major metropolitan areas. There is a good note for those who live in and around Las Vegas?LV rental market is stable and is flat.
Rents are out pacing price increases on sales of single family homes and condo, which means owning a home, is even more affordable than renting in the future. In some market place that future is NOW.
The only problem is most renters would love to ditch their rental properties and move into their own home.? However, they are not qualified to buy a house with their over-extended credit and low bank accounts caused by the current recession. Seems odd people can qualify to rent a house yet are not able to become home owners in the eyes of most lending institutions.
The big question is will this continue? It sure seems so.? However, if what is going on in the financial markets around the world is any indication then we may see in the future a bigger worldwide recession. I don?t see how we can continue to print more money, bail out more banks/countries, and print more money again. This has all got to come to a head don?t you think?
In the mean time I am glad I bought my home/shelter. I feel better with my roots planted and my mortgage under control. It takes good ol? American sacrifice to reach a point in life where you have some sort of control of your destiny. Yes I started years ago but it is never too late to start if you haven?t already. Now is time for you to either buy your home or rent one of mine.
If you find this information informative and would like to receive Redwood City real estate updates on a regular basis you can fill in your email address over there on the right to receive a Free Newsletter.
If you want?notification about homes that match your criteria?identical?to the homes you want ?to buy you can click the ?Register Today? orange button to the right and give the criteria of the home you would like to buy.? I will arrange for your own personal organizer and its results sent to you when a new home matching your criteria comes on to the market. You will have information within 4 hours of this information being placed in the Multiple Listing Service, (MLS), which is about as fast as I receive this information.
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Source: http://sfbayhomes.com/blog/cant-sell-your-home-heres-what-to-do-in-redwood-city/
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