The Price of Rent on the Rise – Thinking of Buying a Home in Elk Grove
Mike and Jennifer Rigley (buyers) 916.378.4671 / (sellers) 916-660-5823 Info@RigleyRG.com
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Keeping Current Matters recently reported that investment purchases in 2014 fell 7.4% for the year that combined with a diminished supply of distressed inventory allowing for big profits, has real estate investors looking for a new way to make more money in 2015.
So if they don’t have new properties to buy… how would they make more money? Easy… they are going to raise your rent!
A recent article from Bloomberg Business gave insight into exactly what the CEO’s of major investment firms are thinking.
“We are focusing aggressively on rent bumps,” American Residential Properties CEO Stephen Schmitz said during a panel discussion. “There’s a supply imbalance in some markets. The same thing that keeps occupancy high also drives rents.”
How Much Are They Going To Raise Your Rent?
Rental rates are predicted to increase 4% on renewals and as much as 5.7% for new tenants. Haendel St. Juste, a Morgan Stanley analyst put it this way:
“The focus is now on optimizing revenue, compared to getting heads in beds,”
So What Can You Do? If you are one of the millions of renters out there dreading the day that you have to renew your lease, or planning to move into a new rental property, now may be the time to sit with a top Elk Grove real estate professional and evaluate your ability to lock in your housing cost, by buying now.
To stay up to date with Elk Grove Real Estate news, Market Trends, Options and Solutions to Foreclosure and Short Sale Information log on to www.rigleyrealtygroup.com
Are you a local hero looking to buy or sell a home in Elk Grove? CLICK HERE to find out about the Home Benefits for Heroes savings program NOW! Former and active Military, law enforcement, firefighters, health care providers, first responders, and teachers are but a few of the everyday heroes that may be eligible for home buying and home selling discounts through Home Benefits for Heroes
(We are now donating a portion of every closing commission to the Wounded Warriors Project. Your referrals and business help those who have given their all to our country.)
Looking for a top Elk Grove realtor? Call the Rigley Realty Group of Keller Williams Realty Elk Grove today at 916-378-4671 or log on to www.RigleyRealtyGroup.com to start your on-line home search now. Call us today – you’ll be glad you did.