According to Realfacts : Rents are down and occupancies too

[surveyor]

Lag

Actually the demand from the bailing homeowners makes a lot of sense. Even when they leave their homes and move into an apartment, you can’t just put that empty home on the rental inventory list right away. There will be a lag. For various reasons, the empty houses aren’t put into use immediately. The houses will remain empty for several months, until the banks can unload them and an investor or buyer will put them back to use (at an appropriate price). Certainly the banks are not going to go into the rental business.

Until this (the active conversion of foreclosed homes to being used as rentals or homes) happens, you won’t see rent going down. I’ve talked to a few investors and they’re trying to do some deals, but I don’t see a whole lot of activity otherwise. Streamlining the foreclosure to rental process could lower the rents, but I don’t see that happening.

This lag is why I’ve always found fault with the idea that the large foreclosures will have an immediate impact on lowering rent here in San Diego.

[patientlywaiting]

I agree that there is a lag.

Wait for a few months and you’ll see the asking rents drop from this wishful thinking asking amounts.

I know for a fact that the Downtown rental market is dropping. Properties have been sitting more than 2 months now since I’ve been helping a friend find a rental.

Just like buying, when renting, patience is key. Never rent the first decent place you find. You need to look at the classifieds for at least 2 months, and visit the places you’re interested in, before you get an idea of the market.

If you miss out on a place, don’t sweat it, there’ll be plenty of other rentals.

[patientlywaiting]

I agree that there is a lag.

Wait for a few months and you’ll see the asking rents drop from this wishful thinking asking amounts.

I know for a fact that the Downtown rental market is dropping. Properties have been sitting more than 2 months now since I’ve been helping a friend find a rental.

Just like buying, when renting, patience is key. Never rent the first decent place you find. You need to look at the classifieds for at least 2 months, and visit the places you’re interested in, before you get an idea of the market.

If you miss out on a place, don’t sweat it, there’ll be plenty of other rentals.

[patientlywaiting]

I agree that there is a lag.

Wait for a few months and you’ll see the asking rents drop from this wishful thinking asking amounts.

I know for a fact that the Downtown rental market is dropping. Properties have been sitting more than 2 months now since I’ve been helping a friend find a rental.

Just like buying, when renting, patience is key. Never rent the first decent place you find. You need to look at the classifieds for at least 2 months, and visit the places you’re interested in, before you get an idea of the market.

If you miss out on a place, don’t sweat it, there’ll be plenty of other rentals.

[patientlywaiting]

I agree that there is a lag.

Wait for a few months and you’ll see the asking rents drop from this wishful thinking asking amounts.

I know for a fact that the Downtown rental market is dropping. Properties have been sitting more than 2 months now since I’ve been helping a friend find a rental.

Just like buying, when renting, patience is key. Never rent the first decent place you find. You need to look at the classifieds for at least 2 months, and visit the places you’re interested in, before you get an idea of the market.

If you miss out on a place, don’t sweat it, there’ll be plenty of other rentals.

[patientlywaiting]

I agree that there is a lag.

Wait for a few months and you’ll see the asking rents drop from this wishful thinking asking amounts.

I know for a fact that the Downtown rental market is dropping. Properties have been sitting more than 2 months now since I’ve been helping a friend find a rental.

Just like buying, when renting, patience is key. Never rent the first decent place you find. You need to look at the classifieds for at least 2 months, and visit the places you’re interested in, before you get an idea of the market.

If you miss out on a place, don’t sweat it, there’ll be plenty of other rentals.

[donaldduckmoore]

The more the people who walk out their homes, the more renters are there in the market. Thus the pool of renter will get bigger. At the same time, houses that were originally put to rental market by desperate owners will become hooked on the foreclosure procedure that will take a long time before they can be used as rental units. Thus the size of the rental market will be sort of steady. In the short term, rent will increase in SD if more homeowners that are under. That is my guess.

Surveyour: Indeed banks do recycle their non-functioning assets to rental units when they are desperate.

[donaldduckmoore]

The more the people who walk out their homes, the more renters are there in the market. Thus the pool of renter will get bigger. At the same time, houses that were originally put to rental market by desperate owners will become hooked on the foreclosure procedure that will take a long time before they can be used as rental units. Thus the size of the rental market will be sort of steady. In the short term, rent will increase in SD if more homeowners that are under. That is my guess.

Surveyour: Indeed banks do recycle their non-functioning assets to rental units when they are desperate.

[donaldduckmoore]

The more the people who walk out their homes, the more renters are there in the market. Thus the pool of renter will get bigger. At the same time, houses that were originally put to rental market by desperate owners will become hooked on the foreclosure procedure that will take a long time before they can be used as rental units. Thus the size of the rental market will be sort of steady. In the short term, rent will increase in SD if more homeowners that are under. That is my guess.

Surveyour: Indeed banks do recycle their non-functioning assets to rental units when they are desperate.

[donaldduckmoore]

The more the people who walk out their homes, the more renters are there in the market. Thus the pool of renter will get bigger. At the same time, houses that were originally put to rental market by desperate owners will become hooked on the foreclosure procedure that will take a long time before they can be used as rental units. Thus the size of the rental market will be sort of steady. In the short term, rent will increase in SD if more homeowners that are under. That is my guess.

Surveyour: Indeed banks do recycle their non-functioning assets to rental units when they are desperate.

[donaldduckmoore]

The more the people who walk out their homes, the more renters are there in the market. Thus the pool of renter will get bigger. At the same time, houses that were originally put to rental market by desperate owners will become hooked on the foreclosure procedure that will take a long time before they can be used as rental units. Thus the size of the rental market will be sort of steady. In the short term, rent will increase in SD if more homeowners that are under. That is my guess.

Surveyour: Indeed banks do recycle their non-functioning assets to rental units when they are desperate.

[Anonymous]

What I’ve seen in Ventura county is that rent for rooms of a house are actually up. My guess would be wanna be landlords having to meet mortgage payments. However, rents for actual apartments seem to be down from even 7 months ago. Don’t know if there is a similar trend in SD.

[Anonymous]

What I’ve seen in Ventura county is that rent for rooms of a house are actually up. My guess would be wanna be landlords having to meet mortgage payments. However, rents for actual apartments seem to be down from even 7 months ago. Don’t know if there is a similar trend in SD.

[Anonymous]

What I’ve seen in Ventura county is that rent for rooms of a house are actually up. My guess would be wanna be landlords having to meet mortgage payments. However, rents for actual apartments seem to be down from even 7 months ago. Don’t know if there is a similar trend in SD.

[Anonymous]

What I’ve seen in Ventura county is that rent for rooms of a house are actually up. My guess would be wanna be landlords having to meet mortgage payments. However, rents for actual apartments seem to be down from even 7 months ago. Don’t know if there is a similar trend in SD.

[Author]

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