What's the forecast for rents in the Grosse Pointe areas over the next 3 years?

Bruce Bartlett
Home Buyer
Grosse Pointe, MI

Answers (2)
Dunes
Both Buyer and Seller
Benton County, OR

Bruce, You might try this site...http://www.zilpy.com/ You can find a lot of info about the rental market, trends,ect...

This site...http://www.rentometer.com/ .....might also come in handy as you can use it to compare rents in an area....
Also Patt gave some very good advice to consider..
Hope it helps a little bit, Dunes

Wed Dec 24 2008, 12:19
Patt Koller
Agent
Grosse Pointe Woods,...
FIRST ANSWER

Bruce: That is a chrystal ball question.

But you would think with the glut of vacant, unsold properties in this area, and the well noted decline in property values, the rental incomes would also tumble. Doesn't seem to be the case.

Maybe because of the home owners loosing their place to live or maybe because the potential buyers are unwilling or unable to commit to an actual purchase, we seem to have a sufficient numbers of renters to cover our inventory of rentals available.

Three years from now? I would bet on good rental values. But then I bought bonds last January. Lost over 25% in 10 months. Shows how good my clear my chrystal ball is.

Wed Dec 24 2008, 12:05

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