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
To fulfill , complete, implement, perform, or carry out terms of an agreement including completing a signature on a contract and delivering a document to the intended party. ...
percentage of land that may be used productively to the total square footage of the land. For example, if total square footage is 40,000 but only 30,000 square feet may be built upon ...
Land that has poor income potential, usually used in an agricultural sense meaning that the land is untellable, has poor access, is extremely steep, has suffered serious erosion, is ...
Insurance protection for the replacement cost of damaged property. Thus, the accumulated depreciation is not subtracted in determining the amount of reimbursement. ...
Determines the ability of soil to absorb and draw down water. A percolation test is essential to determine the location of a drainage field for waste disposal. ...
An individual against whom a court has placed a financial judgment with a creditor. For example, a court determines that Cole owes Smith $2,000 and makes Cole a judgment debtor. ...
Person or business that obtains mortgages for others by finding suitable lenders. The mortgage broker sometimes deals with collections and disbursements. Typically the mortgage broker ...
Rights, interest, and benefits inherent in the ownership of real estate, as distinguished from personal property ...
Measure of central tendency that is a measure of the center of the data; also called an average. Mean and standard deviation are the two most widely used statistical measures that summarize ...
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