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Subject: Rental Prices Declining

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Author Messages
NCgirl
Posts:206
10/06/2008 7:09 PM Alert 
I'm going to raise mine 5% next year.
jakob
Posts:473
10/06/2008 10:01 PM Alert 
Here in PB, rents are softening. Many 2 bedroom houses are available for 1600 right now, it was hard to find any for 1700 last year this time.
PolarBearKing
Posts:161
10/06/2008 10:32 PM Alert 
Posted By LoonyQT on 07/19/2008 9:38 AM
great finds - did you notice coeanside on the uhaul top growth cities list?




I'd imagine that the Marine Corp being located there has something to do with that...
PolarBearKing
Posts:161
10/06/2008 10:46 PM Alert 
Home rental prices in my micro area are falling and inventory is going up. If you look at it based on price per square foot it is almost rediculously low. I've been renting for over four years and with the exception of moving up to a bigger place there have been no rent increases from the landlords during that time.

I am currently looking for a bigger place and gave my landlord my 30 day notice on the first of the month. She called me this evening and asked if she reduced the rent if I would stay. The price isn't the issue so I said no thank you. She then asked if I wanted to buy the house. Uh, nope.
huntid
Posts:64
10/07/2008 8:24 AM Alert 
As a landlord for many years, I am fully expecting rents to decline 30% from this point over the next 5 years before increasing again.

This is why I am not buying any more rentals. People say it pencils out at current prices, but no room for declines.

*************** I believe the only real investment over the next 60 months will be paying down or eliminating all debt. **************
LoonyQT
Posts:894
10/07/2008 1:25 PM Alert 
wow huntid - that's one of the bolder statements I've seen from you - and you have some bold statements!!
Brian
Posts:2210
10/07/2008 1:39 PM Alert 
I agree with huntid. As a landlord, i feel the same. way. Make sure you level of debts don't put you in an insolvent position as asset prices continue to decline.

rentingman
Posts:280
10/08/2008 8:57 AM Alert 
I believe rents are going to start to decline quite a bit in DT. There are two reasons:
1. Employment in Ca, yeas even SD county, is in free fall
2. Condo complexes such as Park Terrace and Smart Corner are now listing in Apartment Guide
a. Short way of saying for rent volume is increasing
PolarBearKing
Posts:161
10/09/2008 12:54 PM Alert 
Posted By PolarBearKing on 10/06/2008 10:46 PM

I am currently looking for a bigger place and gave my landlord my 30 day notice on the first of the month. She called me this evening and asked if she reduced the rent if I would stay. The price isn't the issue so I said no thank you. She then asked if I wanted to buy the house. Uh, nope.



My landlord came by to see the house this morning to see what will be needed to be done to rent it back out. We started to discuss my situation and she offered to trade house with me (she lives in a McMansion, is both a widow and an empty nester), since she can't sell and likes the house I am in now. I was a little taken back by it and we didn't come to a conclusion as we both had places to be, but I think it may be something to consider for both of us.

Hmmmm.....Interesting times indeed.
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