Rents in Penasquitos

[surveyor]

more rents…

Long story short, the amount of foreclosures is creating renters from former homeowners and there is more demand for affordable housing.

While it is true that there is a huge amount of inventory, this inventory is for sale and not for rent. Unless there is a mechanism in place for quickly converting foreclosures to rental properties, I do not believe that rental prices will go down. In fact, the amount of foreclosures create even more renters, and are competing with the current rental pool for affordable rental properties. This is something I’ve been saying for some time now, but there are some piggs here who vehemently disagree with me.

It’s nice for buyers that there are a lot of empty properties being held by banks, but unless the banks can convince real estate investors to buy them and convert them to rentals, and to do this on a large enough scale, the rents are staying where they are. Considering the reluctance of many banks to lend money and the inability of real estate investors to make money at these prices, I can’t see rents going down. Many see real estate inventory the same as rental inventory and that’s simply inaccurate.

The rental prices in San Bernardino and Riverside are going down, but that I think is more a result of the lack of economic activity there than the inventory.

IMHO, there will be a situation where there will be huge numbers of empty bank-owned properties and rentals being overwhelmed with demand.

I think there will be two events which will lower rents – a prolonged and deep recession for San Diego (which would place more pressure on affordable rental units) and when you see renters becoming homeowners again.

Your best bet to get a below market rent would be not to deal with property management and large apartments, but instead probably those small homeowners/landlords who are more “fearful” and are more likely to lower your rent to below $1900 just to get a good tenant in there. There are a few out there, but they get snatched up quickly.

My two cents.

[stansd]

$1,900 strikes me as a little hot depending on how nice it is. We rent a nice 1,500 sq. ft 3 BR house with a very small yard in RB for just under $2000. I think we may be $100 under market, but we also have an extra bedroom and a small back yard. If the place is really nice, that might be reasonable, if its average, it’s probably more like 1,700 to 1,800.

[stansd]

$1,900 strikes me as a little hot depending on how nice it is. We rent a nice 1,500 sq. ft 3 BR house with a very small yard in RB for just under $2000. I think we may be $100 under market, but we also have an extra bedroom and a small back yard. If the place is really nice, that might be reasonable, if its average, it’s probably more like 1,700 to 1,800.

[stansd]

$1,900 strikes me as a little hot depending on how nice it is. We rent a nice 1,500 sq. ft 3 BR house with a very small yard in RB for just under $2000. I think we may be $100 under market, but we also have an extra bedroom and a small back yard. If the place is really nice, that might be reasonable, if its average, it’s probably more like 1,700 to 1,800.

[stansd]

$1,900 strikes me as a little hot depending on how nice it is. We rent a nice 1,500 sq. ft 3 BR house with a very small yard in RB for just under $2000. I think we may be $100 under market, but we also have an extra bedroom and a small back yard. If the place is really nice, that might be reasonable, if its average, it’s probably more like 1,700 to 1,800.

[stansd]

$1,900 strikes me as a little hot depending on how nice it is. We rent a nice 1,500 sq. ft 3 BR house with a very small yard in RB for just under $2000. I think we may be $100 under market, but we also have an extra bedroom and a small back yard. If the place is really nice, that might be reasonable, if its average, it’s probably more like 1,700 to 1,800.

[KCTxr]

Stick with $1.00/sf. We may need to move again, so I have been paying attention. The newer places (or at least some of them) are starting to show up for that range. Up on Mediatrice, they may hit that, with a great view, but maybe no air conditioner (ya know, you don’t need an air conditioner in SD, ha, but you can get one from QVC in a few days if they are sold out locally). The schools are hard, unless your kids are a whiz, and there are alot of them (meaning children who are very bright). Good Luck

[KCTxr]

Stick with $1.00/sf. We may need to move again, so I have been paying attention. The newer places (or at least some of them) are starting to show up for that range. Up on Mediatrice, they may hit that, with a great view, but maybe no air conditioner (ya know, you don’t need an air conditioner in SD, ha, but you can get one from QVC in a few days if they are sold out locally). The schools are hard, unless your kids are a whiz, and there are alot of them (meaning children who are very bright). Good Luck

[KCTxr]

Stick with $1.00/sf. We may need to move again, so I have been paying attention. The newer places (or at least some of them) are starting to show up for that range. Up on Mediatrice, they may hit that, with a great view, but maybe no air conditioner (ya know, you don’t need an air conditioner in SD, ha, but you can get one from QVC in a few days if they are sold out locally). The schools are hard, unless your kids are a whiz, and there are alot of them (meaning children who are very bright). Good Luck

[KCTxr]

Stick with $1.00/sf. We may need to move again, so I have been paying attention. The newer places (or at least some of them) are starting to show up for that range. Up on Mediatrice, they may hit that, with a great view, but maybe no air conditioner (ya know, you don’t need an air conditioner in SD, ha, but you can get one from QVC in a few days if they are sold out locally). The schools are hard, unless your kids are a whiz, and there are alot of them (meaning children who are very bright). Good Luck

[KCTxr]

Stick with $1.00/sf. We may need to move again, so I have been paying attention. The newer places (or at least some of them) are starting to show up for that range. Up on Mediatrice, they may hit that, with a great view, but maybe no air conditioner (ya know, you don’t need an air conditioner in SD, ha, but you can get one from QVC in a few days if they are sold out locally). The schools are hard, unless your kids are a whiz, and there are alot of them (meaning children who are very bright). Good Luck

[Eugene]

I’m renting a 4br with a 2-car garage and a large backyard at Black Mtn exit off 56 for $2100/month. That’s low end in the area (it came without fridge and W/D) but paying almost as much for a 2br condo next door does not seem right to me.

[Eugene]

I’m renting a 4br with a 2-car garage and a large backyard at Black Mtn exit off 56 for $2100/month. That’s low end in the area (it came without fridge and W/D) but paying almost as much for a 2br condo next door does not seem right to me.

[Eugene]

I’m renting a 4br with a 2-car garage and a large backyard at Black Mtn exit off 56 for $2100/month. That’s low end in the area (it came without fridge and W/D) but paying almost as much for a 2br condo next door does not seem right to me.

[Eugene]

I’m renting a 4br with a 2-car garage and a large backyard at Black Mtn exit off 56 for $2100/month. That’s low end in the area (it came without fridge and W/D) but paying almost as much for a 2br condo next door does not seem right to me.

[Author]

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