Wednesday, May 27, 2015

I Anticipated This....And, I See It Happening

A couple of years ago, beginning of 2012, prices took a big jump. As well, rentals were a hot commodity, inventory was still very tight for resale so landlords had a nice pool of people to pick from to fill their properties.

So, I presumed that a few years later we'd have some sales coming on the market that were rentals.

We are! I've seen several properties that were picked up in the last 1/2 dozen years turned into rentals. Now that values have come up, interest rates are still down, those rentals are coming on the market.

Our inventory is almost at 700 in lovely Santa Clarita Valley. Two that I want to show my buyers were purchased in 2011, leased looking like crap. Now, they've been fixed up and are on the market for re-sale.

Several homeowners turned their property into rentals since they were upside down and moved on. Showed one this weekend that now has enough equity to sell and be done acting as a landlord.

I'm thrilled that we're seeing a few more homes coming on the market. But, renters be warned, you may find rental properties harder to come by. Or, you may find your current rental up for sale and have to find another.

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