Rent vs Buy in Sacramento>Question Details

Justwondering, Renter in Sacramento, CA

2580 W El Camino Ave #10101, Sacramento CA 95833. can it be rented to me?

Asked by Justwondering, Sacramento, CA Wed Jul 4, 2012

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2
Justwondering,

As Patrick & Tina responded, the home is listed for sale. Not only is it for sale, but it is being sold as a short sale. That is very telling about the intention of the seller.

In today's market, where prices have dropped significantly, a short sale is only successful if the seller has a hardship. It can be assumed that the seller is not capable of retaining the property and so the sale is what they considered their best alternative.

A seller is selling, where the home is worth less, because of their inability to retain the home at the current mortgage payments, with the exisiting principal balance way above the current market value of the home. That does not indicate a good set of circumstances to retain the residence and rent it. HOWEVER, it provides an excellent opportunity for a new buyer to obtain the residence at a much lower price, with an interest rate around 3.75-4%....MUCH lower than their monthly expense if the buyer were to rent the same property.

So again, when you see a property for sale, it's very unlikely that it would be available for rent. And it's also a better deal for YOU if you look at purchasing rather than renting.
0 votes Thank Flag Link Thu Jul 5, 2012
This property is currently on the market for sale.
Payments on a mortgage would be close to what
you would pay for rent If you wanted to explore that
option.
0 votes Thank Flag Link Wed Jul 4, 2012
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