People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.
TheCensus Bureaurecently released their third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:
A recentWall Street Journalarticlereports that rents rose “faster last year than at any time since 2007, a boon for landlords but one that has stoked concerns about housing affordability for renters.”
The article also cited results from a recentReis Increport which revealed that average effective rents rose 4.6% in 2015, the biggest gain since before the recession. Over the past 15 years, rents have risen at a rate of 2.7% annually.
Where are rents headed?
Jonathan Smoke,Chief Economist at realtor.comrecently warned that:
“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”
According to theWSJarticle:
“In general, the higher rents go, the more difficult it will be for young people to save for down payments, making them likely to rent even longer.”
One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let's get together to determine if you are able to today!
Author:Matt Watson Phone: 214-417-9171 Dated: January 12th 2016 Views: 1,194 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 resid ence 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.
Excited About Buying A Home This Year? Here’s What to WatchAs we kic
"Matt is fantastic! He knows everything about each property in the areas he lists and shows. He was a breeze to work with and always was up front and honest about every aspect of the buying process. I recommend him to everyone I know!"