If you own your current home and are interested in buying another, you may have considered keeping your current home (instead of selling it) and renting it to tenants. It can be a savvy investment decision, but the prospect of becoming a landlord is intimidating for many homeowners! When faced with this decision, we encourage our…
You’ve probably heard stories about people who own attractive four-bedroom homes but struggle to afford their credit card bills, utilities, or even their weekly groceries. Unfortunately, this scenario is more common than you might think, and it’s referred to as being “house poor”. It typically occurs when homeowners spend a large proportion of their income on their…
If you’re thinking about purchasing a home, but aren’t quite ready for the financial investment, you may wish to consider a rent-to-own (sometimes known as a lease-purchase). This type of arrangement occurs when a tenant/buyer signs a lease for a home for a specified period of time, as well as an Agreement of Sale to…
Tiny dorms, communal bathrooms, and economy furniture just aren’t cutting it anymore! Students around the country (and particularly upperclassmen) are increasingly choosing higher-end off-campus apartments over campus housing, leading to an excellent opportunity for investors and developers. Axiometrics, an apartment research company, anticipates rental growth in this market to remain strong over the next five…
If your petite townhome with a barely-there backyard isn’t cutting it for your growing family, you’re not alone! Here’s how to easily make the jump into your single-family “forever” home: 1. It just might be more affordable than you think. Mortgage rates are hovering near historic lows, and (depending on when you purchased your last…
Good news for homeowners who are underwater on their current home and unable to easily sell! New conventional mortgage guidelines now allow borrowers to more easily rent (not sell) their current home and use the rental income to offset their new home loan. Under these new rules, borrowers may count 75% of the rent from…
You’ve probably heard (or experienced firsthand!) the shortage of available rental homes. In fact, rental prices have skyrocketed in the past two years as the demand for rentals increased to a historic high and supply remains limited. If you’re currently a landlord, you’re probably marketing your properties to fresh-out-of-college professionals, young families, or late Gen Xers who seek flexibility…
Whether you’ve decided to rent out your current home or purchase an investment property, you’ll surely be looking for prospective renter. Most landlords will tell you that it’s not always easy to find a great tenant, so here’s how to ensure that you have the very best pool of applicants: The first way to find…
If you’re currently renting, you probably know that rental prices have increased significantly in the last couple of years. In fact, inflation-adjusted rents increased 7% since 2001, whereas inflation-adjusted household income dropped 9% according to Harvard’s Center for Joint Housing Studies. As a result, nearly half of all renters can’t easily afford their monthly rent….
Thinking about becoming an investor? That’s probably not such a bad idea, according to some of the most recent real estate data. The most recent month reported, August, shows rental prices continue to outpace home prices. Home values climbed 3.3% year-over-year in the month of August, while rental prices jumped 3.8%. While 0.5% may not…
Even if you’re new to the world of real estate investing, you probably know that it’s not always easy to find a great new tenant. While there are a large number of renters, it can be difficult to sort through applications and determine who is a good fit. Consider using a Realtor to help you find…
PA Real Estate Market Report. The Pennsylvania Association of Realtors recently released housing statistics for the second quarter of 2015, and the market continues to steadily improve. Perhaps most notably, the median sales price increased 3.3% over this time last year to $175,500. Sellers are also benefiting from quicker sales; the average Days On Market decreased…
Narberth and Upper Uwchlan Twp The popular niche.com just released their 2015 Best Places to Live rankings, and two of the top suburbs are right here in the Philadelphia area! Narberth and Upper Uwchlan Twp Narberth and Upper Uwchlan Twp are considered some of the best suburbs in the nation — and for good reason! Narberth is…
Did you know that rental prices are rising twice as fast as the inflation rate? It’s true! There is an enormous demand for rentals right now, and it’s pushing prices sky high. In fact, the market is hotter than ever with the national occupancy rate for rentals at an all-time high of 95.3%. This townhome…
Increase in Rental Prices As if we needed another reason to encourage homeownership! A recent report published by CNN found that rental prices skyrocketed another 4% in April, outpacing home values and the median income. This is the fastest increase in over two years. Image via Astuteinvestments.com The main reason? Demand! The demand for rentals has increased,…