This week's highlights:
Bruce & Bonnie did it again!
Real Estate Market Trends- Rental Market Heating Up!
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Bruce & Bonnie Sold Another Home in Addison!
 7929 Trieste Place
3 BR with custom fitted den/office
3.5 BA
2948 SF Golf Equity
Listed for $575,000
Sold for $550,000
Den/Office with custom built-ins, gourmet kitchen with 42" cabinets and granite countertops, split bedroom floor plan, 2.5 car garage, double fairway golf course views, accordian hurricane shutters, full house generator with so much more!
*View our website for full listing details*
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Real Estate Market Trends
Rental market: Sweet spot in real estate
WASHINGTON – Sept. 8, 2011
– The rental market is continuing to heat up and can offer potentially big
returns for buyers willing to jump into the landlord role.
For investors looking to take advantage of low record-reaching mortgage rates
and big discounts on home prices, the opportunities are plenty. Rents are
rising and demand is up too, partially due to the 4 million former homeowners
who’ve faced a foreclosure and are now renters.
In response, more homes are turning into rentals: Nearly 35 percent of occupied
homes were rented in 2010, which is a 33.8 percent increase from 2000,
according to a recent study.
In more than 500 cities, demand for rentals has increased, with vacancies for
rental housing reaching its lowest level since 2003, according to U.S. Census
data. Plus, rents are on the rise too: Nationwide, rents increased 11.6 percent
in 2010 to $1,320 a month, on average, according to Hotpads.com, a real estate
research firm.
Investors are buying rental properties with the intention to hold onto it for a
longer time too: On average, investors say they plan to hold onto the property
for 10 years before selling, according to a survey by the National Association
of Realtors®.
“Whereas leverage is dangerous when buying stocks, [buying a rental] can be a
good long-term strategy with real estate,” real estate investor Marshall
Sonenshine told Money Magazine.
Experts suggest the wisest move for investors is buying a property near their
permanent residence and sticking to buildings with four units or fewer to avoid
stricter financing requirements, such as larger downpayments and higher
mortgage rates. Also, experts say rental income should cover at least the mortgage
payments on the property as well as an extra 20 percent cushion to pay for any
repairs, property management or get you through any vacancies.
Source: “Cashing in on Rental Property,” Money Magazine (Sept. 2, 2011)
© Copyright 2011 INFORMATION, INC. Bethesda, MD |
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Contact Details
Bruce & Bonnie Gaines
Estate Agents
2901 Clint Moore Road
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Call us...there is a difference! If your home is currently listed with another Realtor®, please do not consider this a solicitation
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