October 16, 2014
Another Rent or Buy Message!
This morning I saw a news report that people are having problems finding affordable rental housing. Many people are being forced out of their homes because of pending rent increases. There is no plot or conspiracy being done by landlords; they are reacting to increased costs dues to insurance (especially liability), utility prices, and other pressures that force them to increase rents in order for them to be able to make an acceptable profit on their investment.
In fact, it is now much more expensive to rent than to own a home in many areas. How can this be? Recently interest rates for mortgages have dropped again and are very low. This will not last forever and rates could go up at any time. Home prices in many markets also have begun to hold, ending a nearly 2 year long increase in prices.
In today’s market you may be able to make an offer without having to compete with other potential buyers, ask for closing costs, and have repairs made prior to the close of escrow.
Of course, the correct assessment of the cost of owning a property vs. renting needs to be done. A professional full time realtor can give you a quick review of the possibility of home ownership. It takes just a little time, provides you with information that you do not have today, and best of all, it costs nothing except a few minutes of your time.
Now is a great time to consider purchasing a home with low interest rates and steady prices. If you are having problems finding a home or apartment to rent, consider giving us a call at 925-308-7045. We will provide you with the best information you can get.