Market Conditions in 95124>Question Details

katie, Both Buyer and Seller in San Jose, CA

How is the rental market in 95118?

Asked by katie, San Jose, CA Mon Dec 10, 2007

Hello,
I'm planning on renting(instead of selling) my 4 bedrooms 2 baths house in the 95118 area with Union school and Campbell High school districts.How much do you think I would get?Is it a good idea?
K.

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Answers

5
Katie,

There is a huge variance in homes in 95118 - are you Willow Glen? Cambrian? 1200sf? 2500sf? granite? marble? age?

I just rented out a 4/2 2100sf townhome with 2 car gar, yard and formica counters in downtown Willow Glen for $2150 and then I did a SFR in Campbell for $1795. It really depends upon the property.

In general, the rental market is getting stronger and vacancies are decllining as folks loose their homes and become renters. The apartment market is expecting a very good year as ROI climbs.

Before you rent the place out - and if you are planning of buying something else - talk to a lender. There has been a bunch of Buy and Bail scams on lenders and I know that FHA has been tightening the rules on buyers that plan to rent the old property.

Good Luck to you!

Rebekah
RebekahOwen.com
0 votes Thank Flag Link Fri Jan 7, 2011
I have worked some local home owners recently and have helped them to put there homes on the market to lease. There has been strong interest on the 2000 range, and in the more expensive executive homes it is a bit slower. There are many options available you rent your home. As you might know you may hire a realtor help you secure a tenant. Some consumers dont like to deal with renting and pre-qualifying clients. If you want to do it on your own, try vflyer.com excellent site.

Good luck
0 votes Thank Flag Link Mon Dec 10, 2007
Hi Katie, You have a desirable Cambrian neighborhood, no doubt. I would be more direct in my opinion with rent...Rents are not up as much as many would like to see so, condition of your home and it's relative location will determine your rent schedule right now more than last year. If our home is an A+ home you can look to get around $2500/mo..If your home has mostly original (45yrs+) hardware and fixtures then, $1800 would be more likely. I grew up in Cambrian Park and went to Campbell/Union schools and love the area. I wonder why lol. I hope you can get a renter soon and wish you great luck in your future sale plans.

I wrote an article about the market that you might find of some interest with regards to "the bottom" and when it may be over.

Michael
http://www.MichaelRobertsHomes.com
0 votes Thank Flag Link Mon Dec 10, 2007
Sell it when the market is better??
K.
0 votes Thank Flag Link Mon Dec 10, 2007
There are a lot of homes for rent because sellers are opting to wait out the sale market. In spite of this, rents are holding strong and increasing in some areas. Most ranch homes in good shape should rent for approx. $2,000 per month. Of course, if your home is more luxurious or larger, then more. Is it a good strategy... well that depends on a lot more factors. What are your plans with the home in the future?
0 votes Thank Flag Link Mon Dec 10, 2007
Mario Pinedo,…, Real Estate Pro in Beverly Hills, CA
MVP'08
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