Renter Nation, Continued: Huge Surge in Dallas Rentals
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Continuing the story I posted earlier on the proliferation of rentals in Dallas, I finally had time to check MLS stats and was blown away. Unless my fingers screwed up, I found that for first quarter 2011 there were 12,341 home sales in Dallas — single family plus condos — and in that same time period, there were 6288 leases of the same inventory. Holy macaroni, that’s half!
Total leases from January to July 1, 2011:
33,242 homes sales
13,407 leases
Houston, we’ve got a tsumani change going on in the rental market.
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So weird…I was going to suggest this to you as a blog topic so we get this out there! It really is a great time to buy property (rates, prices) and lease them out for the time being. When the market turns (and it will), sell and make a profit. In the meantime, take advantage of low rates and make some cash flow. I don't know why we're not talking about this opportunity more as agents. In the Lakewood area, there is almost nothing for lease. There are plenty of houses that need a little TLC (paint, fixtures…lipstick) that can be picked up at great prices and leased out for well more than your PITI payment. It doesn't seem like this is getting very much media attention and it should.
So weird…I was going to suggest this to you as a blog topic so we get this out there! It really is a great time to buy property (rates, prices) and lease them out for the time being. When the market turns (and it will), sell and make a profit. In the meantime, take advantage of low rates and make some cash flow. I don't know why we're not talking about this opportunity more as agents. In the Lakewood area, there is almost nothing for lease. There are plenty of houses that need a little TLC (paint, fixtures…lipstick) that can be picked up at great prices and leased out for well more than your PITI payment. It doesn't seem like this is getting very much media attention and it should.
Great topic. Holler at me for a guest post. Do you know anyone who is doing this?
Anyone know how the rental market is for an upscale gated community home? I'm thinking of renting my home in Far North Dallas (fully furnished, 3,000 sq foot single story zero lot) while I'm on an out-of-state assignment for the next year. Any ideas or tips welcome.
Great topic. Holler at me for a guest post. Do you know anyone who is doing this?
Anyone know how the rental market is for an upscale gated community home? I'm thinking of renting my home in Far North Dallas (fully furnished, 3,000 sq foot single story zero lot) while I'm on an out-of-state assignment for the next year. Any ideas or tips welcome.