Forum Replies Created
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AuthorPosts
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surveyor
Participantrents!
Arraya: This is simply false. I can tell you emphatically that rents are going down right now.
There are probably some areas and some specific properties that have rents going down, but in general, San Diego isn’t experiencing a lowering of rent.
“The average rent in San Diego County was $1,378, a 0.6 percent increase from the fourth quarter of 2007 and a 3.7 increase over last year’s first quarter, according to the survey of complexes of 100 units or more.”
I myself have been seeing rents rise.
Participantrents!
Arraya: This is simply false. I can tell you emphatically that rents are going down right now.
There are probably some areas and some specific properties that have rents going down, but in general, San Diego isn’t experiencing a lowering of rent.
“The average rent in San Diego County was $1,378, a 0.6 percent increase from the fourth quarter of 2007 and a 3.7 increase over last year’s first quarter, according to the survey of complexes of 100 units or more.”
I myself have been seeing rents rise.
Participantrents!
Arraya: This is simply false. I can tell you emphatically that rents are going down right now.
There are probably some areas and some specific properties that have rents going down, but in general, San Diego isn’t experiencing a lowering of rent.
“The average rent in San Diego County was $1,378, a 0.6 percent increase from the fourth quarter of 2007 and a 3.7 increase over last year’s first quarter, according to the survey of complexes of 100 units or more.”
I myself have been seeing rents rise.
Participantmore 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.
Participantmore 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.
Participantmore 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.
Participantmore 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.
Participantmore 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.
Participantrent data
Try zilpy.com and rentometer.com. There’s a certain skew to their data, though. Sometimes their data is off by +/- 10%. Still, they do list where they get the data from, and maybe your condo will show up there.
From the SDCAA report a few months ago (January), a 2 bedroom in Rancho Penasquitos’ average rent was $1509, at around $1.29 per sq. ft. This was probably an apartment, though, not a condo.
The UT reports today that rents have gone up in San Diego county around 3.7%. The rental market is pretty tight nowadays. I don’t see rents going down anytime soon.
Participantrent data
Try zilpy.com and rentometer.com. There’s a certain skew to their data, though. Sometimes their data is off by +/- 10%. Still, they do list where they get the data from, and maybe your condo will show up there.
From the SDCAA report a few months ago (January), a 2 bedroom in Rancho Penasquitos’ average rent was $1509, at around $1.29 per sq. ft. This was probably an apartment, though, not a condo.
The UT reports today that rents have gone up in San Diego county around 3.7%. The rental market is pretty tight nowadays. I don’t see rents going down anytime soon.
Participantrent data
Try zilpy.com and rentometer.com. There’s a certain skew to their data, though. Sometimes their data is off by +/- 10%. Still, they do list where they get the data from, and maybe your condo will show up there.
From the SDCAA report a few months ago (January), a 2 bedroom in Rancho Penasquitos’ average rent was $1509, at around $1.29 per sq. ft. This was probably an apartment, though, not a condo.
The UT reports today that rents have gone up in San Diego county around 3.7%. The rental market is pretty tight nowadays. I don’t see rents going down anytime soon.
Participantrent data
Try zilpy.com and rentometer.com. There’s a certain skew to their data, though. Sometimes their data is off by +/- 10%. Still, they do list where they get the data from, and maybe your condo will show up there.
From the SDCAA report a few months ago (January), a 2 bedroom in Rancho Penasquitos’ average rent was $1509, at around $1.29 per sq. ft. This was probably an apartment, though, not a condo.
The UT reports today that rents have gone up in San Diego county around 3.7%. The rental market is pretty tight nowadays. I don’t see rents going down anytime soon.
Participantrent data
Try zilpy.com and rentometer.com. There’s a certain skew to their data, though. Sometimes their data is off by +/- 10%. Still, they do list where they get the data from, and maybe your condo will show up there.
From the SDCAA report a few months ago (January), a 2 bedroom in Rancho Penasquitos’ average rent was $1509, at around $1.29 per sq. ft. This was probably an apartment, though, not a condo.
The UT reports today that rents have gone up in San Diego county around 3.7%. The rental market is pretty tight nowadays. I don’t see rents going down anytime soon.
Participanttaxes!
I believe the principle of the tax code states that if a general assessment is levied and that assessment is broad based and does not specifically benefit the neighborhood, then it is tax deductible.
If that assessment is being levied and benefits those it is assessed against (like a neighborhood) then it is not tax deductible.
But yes, Mello Roos is not considered tax deductible if it is assessed against your personal residence.
You can go ahead and put it on and risk the audit. Still, as for the IRS, I’m sure they have bigger fish to fry.
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