The results ofFannie Mae’s, were just released showing that more and more homeowners are warming up to the idea that now may be a great time to sell their home.
The amount of respondents that stated that now is a good time to sell rose three percentage points toa survey high of 52%; which may translate to a healthier market as more homes are listed in the coming months.
At the same time“the percentage of respondents who expect home rental prices to go up rose to59% – a new survey high.”Doug Duncan, senior vice president and chief economist at Fannie Mae, gave this insight:“The expectation of higher rents is a natural outgrowth of increasing household formation by newly employed individuals putting upward pressure on rental rates.”
There is a chance that those who believe rental prices will rise may consider renting their house rather than selling it at this time.
However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for.Are you ready to be a landlord?
Before renting your home, you should answer the following questions to make sure this is the right course of action for you and your family.
10 Questions to ask BEFORE renting your home
How will you respond if your tenant says they can’t afford to pay the rent this month because of more pressing obligations? (This happens most often during holiday season and back-to-school time when families with children have extra expenses).
Because of the economy, many homeowners cannot make their mortgage payment. What percentage of tenants do you think cannot afford to pay their rent?
Have you interviewed experienced eviction attorneys in case a challenge does arise?
Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?
Will you allow pets? Cats? Dogs? How big a dog?
How will you actually collect the rent? By mail? In person?
Repairs are part of being a landlord. Who will take tenant calls when necessary repairs come up?
Do you have a list of craftspeople readily available to handle these repairs?
How often will you do a physical inspection of the property?
Will you alert your current neighbors that you are renting the house?
Renting out residential real estate historically is a great investment. However, it is not without its challenges. Make sure you have decided to rent the house because you want to be an investor, not because you are hoping to get a few extra dollars by postponing a sale.
Author:Matt Watson Phone: 214-417-9171 Dated: July 15th 2015 Views: 478 About Matt: ...
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You're excited about your next big move: You want to buy, build or sell a home in central Dallas, the urban heart of high-style Texas living. But you don't want to fight with paperwork or negotiate details. You just want a real estate agent who can.
I'm Matt Watson. I've worked with young professionals looking for upscale, uptown residences as well as empty-nesters looking to scale down and kick back. I've sold condos, townhouses, lofts, high-rises and homes (historic and otherwise) all over Dallas. And I know how to make your real estate purchase or sale easy and hassle-free.
If you're buying a home, I will:
Help you find a residence that matches your lifestyle.
Give you instant access to the Dallas Multiple Listing Service.
Help you find financing that works.
If you're building a home, I will:
Help you locate the right building site.
Help you select the home style, size and amenities that fit your neighborhood.
Help you select a qualified builder and coordinate construction.
If you're selling a home, I will:
Price your property based on market conditions and your personal goals.
Help you enhance your home's market appeal.
Market your property to the right buyer, not just any buyer.
And whether you're buying a home or selling a home, I will:
Always be your advocate and work in your best interest.
Always give you the facts you need to make the right decisions.
Always negotiate the details and handle the paperwork.
It's that simple. Welcome to the Matt Watson way of doing business.
As more and more baby boomers enter retirement age, the question of wh
"I would highly recommend Matt Watson for anyone wishing to sell a home or condominium. I utilized him to sell my condo in Uptown and he was truly an asset to the sale. I feel as though he has a very strong handle on the Uptown condo market in particular and truly understood the transaction from beginning to end. Prior to the sale contract arriving, he also had a ready and willing renter for the unit, so I was covered in the event the sale fell through. In this economic environment, I believe the sale of a housing unit (at a reasonable price, which mine was) is impressive, but particularly a condominium. Matt was recommended to me by a someone else that had sold a condo unit through him and I will most certainly be doing the same thing going forward."