August 13, 2015

When is it a Good Time to Rent? Definitely NOT Now!

When is it a Good Time to Rent? Definitely NOT Now! | Keeping Current Matters
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.
The Census Bureau just released their second quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:
Median Asking Rent Since 1988 | Keeping Current Matters
At the same time, a report by Axiometrics revealed:
“The national apartment market’s annual effective rent growth rate of 5.1% in June 2015 represented a 47-month high, and continued a streak of 5.0%-plus rent growth that is now the longest in at least six years, according to apartment market research. The effective rent growth in June 2014 was 3.7%, putting June 2015’s exceptional performance into perspective.
This is the highest rate since the 5.3% of July 2011. The metric has reached at least 5.0% for five straight months, the longest such streak since Axiometrics started monthly reporting of annual apartment data in April 2009.”

Where will rents be headed in the future?

Stephanie McCleskey, Axiometrics vice president of research, commented on the above report in an article by Real Estate Economy Watch:
“Rent growth is just shy of the post-recession peak, and the June metrics reflect the continued strength of the apartment market. The demand for apartments is still strong, despite the record number of new units being delivered this year. Tight occupancy is why landlords can push rents higher.”

Bottom Line

If you are ready, willing and of course able to buy, now may make sense.

Andrea Fowler Web Developer

August 7, 2015

July 2015 = FOR THE BOOKS

July 2015 was the BEST month for my real estate career thus far. I exceed all expectations that I could possibly do. I sold $1,142,298 in real estate sales for the month of July. I have to say a special thank you to all of my clients in July 2015 but more importantly to all of my clients who have really helped take my business to the next level in 2015. 

I sincerely mean it when I say thank you for supporting my business. When I purchase a closing gift it is really to say thank you because without you, New Avenue Realty WOULDN'T exist. It's to say thanks for supporting my business. I work hard each day for you on one of the biggest transaction of your lives. Check out the homeowners that were CROWNED!!!

Ready to be Crowned? 
Andrea Fowler Web Developer