Renter's Market
There’s a time when it’s neither a Buyer’s Market nor a Seller’s Market. We call it “Renter’s Market”.
It’s that time where, despite the supply and demand ratio of properties for sale, the overall economic conditions are not favorable for such a big investment like buying a house and the Real Estate Market shifts toward Rental.
Renters always represent a huge market. There are a lot of people in many professions who get transferred from place to place, so choosing rent is best for them. Additionally, a lot of people have been preferring to save money to travel and other types of entertainment, so they don’t have “owning a house” as a priority – especially the ones who don’t have a big family and don’t intend to. Not to mention Rent Control, which always provides certain gems…
However, the term Renter’s Market should only be used when, independently from all of that, it is economically more interesting - both to the tenant and the landlord - to rent than it is to buy or sell.
Real Estate Secrets:
Did you know there is a middle way between rent and buy/sell? It’s called Rent with Option to Buy and we have a blog explaining a little bit about the so-called Rent to own Properties. You should check it out!
Is it a Renter’s Market right now? Look through The OFFICIAL Real Estate Agent Directory® and find a local agent that specializes in rental to help you find the best offerings!
Popular Real Estate Terms
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Right to an item belongs to the public at large so anyone can use it. An example is a real estate software program that is publicly available by an electronic bulletin board service. ...
An agreement by which a mortgage is made subject to a junior mortgage. For example, a loan on a vacant lot is made subject to a subsequent construction loan. ...
A binding judicial determination of the rights and standing of litigants. A declaratory judgment does not result in any relief for the action brought before the court. It merely ...
Same as term contract for deed: Method of selling and financing property whereby the buyer obtains possession, but the seller retains the title. ...
Legal contract in which the lender controls the pledged property being financed. The agreement describes the property and its location. Of default occurs, the lender may sell the ...
Association of the owners of all condominium units in a building that is concerned with managing day-to-day matters in the building complex, including the surrounding and enforcing ...
The definition of a property brief is a document including the summarization of the attributes and characteristics of the property. Officially issued legal records are supposed to include ...
Any property, tangible or otherwise, except real estate. For example, furniture or automobiles. ...
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