Two years ago, thousands of people rushed to get a piece of the booming housing market. Mortgages were easy to get, even for buyers with little or no credit. Once interest rates shifted however, buyers who received sub prime mortgages were no longer able to make their monthly payments. Now the housing market is being flooded with foreclosures.

Lenders have learned their lesson, and are much stricter with their lending policies. Now, many people who would like to enter the housing market are unable to obtain sufficient financing. This has led to a serious drought in the buyers’ pool.

There are also many people who were considering buying a home, but have now been scared off by the rate of foreclosures. With buyers hesitant to make a purchase, sellers are having a tough time unloading their homes.

This stalled housing market has led to a substantial rise in the rental market.

Buyers who are unable to secure financing must face the reality that they can’t purchase a home at this time. These folks need to sit tight in a rental unit while they work on building their credit rating, and save money for a down payment. Experts are saying that the housing market will bounce back within a year or two, so potential buyers should focus on improving their credit and financial situation until things shift.

Buyers who are eligible for home loans are also finding this a good time to take a step back until the housing market is on steadier ground. Young urban professionals Cheryl 28, and Raoul, 34, already have enough money in the bank for a down payment. Their credit is good, and both have steady incomes. They have decided to rent until interest rates go down. Says Cheryl, “With all the doom and gloom you see about real estate these days, we figured it’d be a good idea to just wait a year or two. We want a home, definitely, but we don’t want to pay through the nose. We can save money for now by renting, so that’s what we’ll do until the market changes.”

Many owners who have lost their homes to foreclosure are now heading into the renting world. Their credit has been badly damaged, and they don’t have enough money to buy a new home. Without a suitable rental unit, many of these people would end up on the streets. They have no choice but to take a rental while they rebuild their financial security.

This foreclosure situation is the main reason that the cities that were booming in 2005 are now becoming rental hot spots. Places like Miami, where buyers flocked to scoop up the great housing deals, now find themselves in trouble. Foreclosures are most rampant in these cities, and the housing market has stalled completely. In these areas, where demand is high, there has been a substantial increase in rental rates. In other areas of the country, where new construction has led to an increase in available units, rents are decreasing slightly in order for landlords to remain competitive.

Consider riding out the housing market turmoil by renting. You can find a beautiful property to suit your family’s needs, while saving money and building your credit at the same time.



Quick Property Sale

Does anyone know the name of any websites i could go on to rent properties, without involving estate agents?

Quick House Sale

I’d like to rent a car and drive it cross country and drive it back. Anyone know how much it would cost? thanks.

Sell House Quick

While we were renovating our house we ripped out old carpets etc. and came across a few pages of an old newspaper that is from 1935 “Boston Sunday Post” and features a very well preserved cartoon in color on “Tarzan”. I put it aside, thinking that I would bring it somewhere but have since not been able to find out if there are any places that might be interested in this. Any advice? Thanks.

Rent Back Fast

Moving into a new home or apartment is a very fun and exciting time. But, it can also be exhausting when you think of all the tasks you have ahead of you. The one that can be the most daunting or thrilling is the thought of home decor. If you’re good at decorating, you’re probably looking forward to this task. But, if you’re a decorating novice, you might want to think about hiring a professional.

Doing your home decor yourself is a way to let your personality shine through to all that visit your place. You will have to make many decisions that encompass theme, colors, furniture, drapes and so on. It may seem like this task will never be completed, but you will notice things coming together after a couple days.

You should start your decorating as soon as you move in and before you unpack all of your stuff. This will enable you to paint all the rooms without having to move all of the furniture around. So, decide on paint colors as quickly as possible so you can, hopefully, get it done before moving day even arrives.

The next step you’ll want to get done in your home decor is the furniture and the drapes. You will want to match both to your paint, so choose accordingly. If you find yourself getting lost and not knowing what would look good with what, consider hiring a professional to help you out. This does not mean that your home would no longer match your individual taste or style. Instead, the decorator would take the time to find out the look you’re going for and will learn your likes and dislikes.

So, your new place will still represent you to the fullest, you just won’t have to do any of the dirty work!



Sell and Rent Back