Subscribe to this blogRental Properties Make Sense in this Market
The rental market is moving! Upwards that is! Investors who purchased property and cannot keep up with their payments (as well as owner occupants who have adjustable rate or sub prime loans) are being foreclosed on. The lenders are taking back the properties and evicting the tenants forcing rental rates to rise. Since banks are not in the real estate business and need to cash out, they are forcing evictions and reselling the properties. This is good news for those investors who have bought right, financed wisely and are holding property for the long term. Even if the property values are on a downward trend, the rental values will continue to climb as those being foreclosed on and evicted will need a place to live. The moral here: consider holding on for the long term if you can afford to.
March 21st, 2008 at 12:03 pm
I am a builder in the Mississippi Gulf Coast area, and am building work force and senior houses. There is a real need for rental properties, due to Hurricane Katrina wiping out 90% of all rental properties. Great incentives from state Government $40,000.00 on a single unit $160,000.00 for Four plex unit, to encourage investors to build and rent to people who after 2 years are still in FEMA trailers. Need your investors to buy houses from my company, A Woman Builder, Bay Homes, LLC. Please feel free to call 228-229-0242. or send to above email.