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!
Kathryn Hoffman/Realty Executives Premiere
Author:Sue Fox Phone: 630-699-5111 Dated: January 12th 2016 Views: 353 About Sue: ...
View our latest blog posts in your RSS reader. Click here to access.
At Realty Executives Premiere…
...we are dedicated to setting the standard for leadership and customer service in the Western Suburbs real estate market.
We have extensive knowledge of each of the communities located in the Western Suburbs and surrounding areas and will work tirelessly on your behalf to make your next real estate buying or selling experience a pleasant and successful one. Our services include working with both buyers and sellers in a wide array of real estate markets including residential, commercial, land, and other related property types. We maintain the highest possible standards and provide our clientele with a complete real estate solution.
OUR AGENTS AND A COMMITMENT TO SERVICE
Our company provides real estate agents dedicated to serving your every real estate need. At Realty Executives Premiere,our agents are committed to prov iding a superior level of service in order to ensure the smoothest and most beneficial outcome to each and every real estate transaction. Our agents maintain exceptional knowledge of the local real estate market, outstanding negotiating skills, and the experience necessary to give you the service you deserve. Professionalism, dedication, and knowledge make Realty Executives Premiere the perfect choice when selecting a real estate professional.
HELPING YOU SELL YOUR PROPERTY IN THE MOST EFFECTIVE MANNER POSSIBLE
Selling a home or other type of real estate is a much more involved process than most people realize. It is our commitment to help sell your home or property in a timely fashion while helping you attain the highest possible price for your real estate. We provide outstanding exposure to your property through both traditional means of advertising while maintaining a comprehensive approach using today's modern techniques including web advertising. With tremendous selling experience combined with our comprehensive selling methods, we will ensure that your home selling process is a smooth and enjoyable experience.
MAKING THE REAL ESTATE BUYING PROCESS A SUCCESSFUL ONE
At Realty Executives Premiere, we find that providing outstanding services for our buyers includes combining superb area and market knowledge with experience you can trust. For buyers looking for homes or other real estate here in Wheaton or other surrounding communities in DuPage County, IL, we will work with you to find your ideal home through the employment of a wide array of resources. From free online access to search every home in our market to our dream home finder form, we will make sure all your real estate buying needs are met for all Wheaton, Glen Ellyn, Winfield, Warrenville, West Chicago, and Lombard, area homes. In addition, once we've narrowed down your search to the ideal real estate you are looking for, we can begin the home showing process so you can get a closer look at the homes that should be a good fit for you. Once this has taken place, we will utilize our outstanding negotiating skills in order for you to receive the best possible price for your new property.
We look forward to serving all your real estate buying needs.
here are some homeowners that have been waiting for months to get a pr
"“I love the “family” atmosphere at the Premiere office, and I have been given the freedom to truly run my own business - even as I enjoy the support, technologies, and Broker counsel of our Realty Executives brand. The strong name recognition of this company in the western suburbs gave me the strong start that I needed.”
This is a perfect business model for team-building and collaborative efforts. I will be forever thankful that I have been able to team up with the best in the business.