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Jason, Home Buyer in 07928

Is the climate a renter's market in the Philly suburbs? It doesn't seem that there is alot of movement, particularly in the mid-upper

Asked by Jason, 07928 Wed Sep 8, 2010

price range Is the climate a renter's market in the Philly suburbs? It doesn't seem that there is alot of movement, particularly in the mid-upper price range (say, $1200-2000 price range).

Any professional thoughts on renters being able to garner good deals?

Many thanks!

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4
rents have risen 15% In the last 24 months...in 2008 it was impossible to rent. vacancies are at a 8 years low.
0 votes Thank Flag Link Tue Feb 22, 2011
Hello Jason,
I would have to agree with Carol this is not particulary a renter's market. I have been seeing a lot of rental properties pirced right and inventory going fast. Personally I have been in several tenant represantation situations over the past few months where we were competing with other tenants to rent a property. My best advice if you are looking to rent is that if you see something you want and its fairly priced, don't wait because there are a lot of other renters out there looking for the same.
I would be glad to give you a hand if you would like.
Best,
Jim

Jim Becker
Realtor ®, ABR, SFR
Prudential Fox & Roach, Realtors ®
Malvern/Paoli Home Marketing Center
49 E. Lancaster Ave
Malvern, PA 19355
(O) 610-647-2600
(D) 494-595-1626
(C) 610-420-5427
Jim.Becker@PruFoxRoach.com
0 votes Thank Flag Link Wed Sep 8, 2010
You're right, Jason, there is not alot of movement in that price range. And, while there's not what I would call a glut of rentals available, we are still seeing a higher-than-usual number of rentals available. Some of the homeowners who would like to sell but can't get their money out have turned to renting out their places. Most of the rental units I see are priced pretty fairly so it's not likely that you'll be able to get a major discount. With interest rates at their lowest EVER and prices continuing to decline - don't rule out the possibility of home OWNERSHIP! :-). I'll gladly help you figure out if it's right for you or not - contact me at 610.246.0006 or RDiamond@kw.com

Either way..best of luck!

Rebecca Diamond
Keller Williams Main Line Realty
720 W Lancaster Ave
Bryn Mawr, Pa 19010
610.520.0100 office
610.246.0006 direct
RDiamond@kw.com
0 votes Thank Flag Link Wed Sep 8, 2010
Hi, Jason,

It is my opinion that it is NOT a renter's market. Due to the fact that financing guidelines have tightened, many would-be buyers are now looking for rentals. There are also many renters who used to be home-owners. At this time, there is certainly not a glut of rentals on the market, in my opinion, so don't look for too many discounts.

If you need additional help, just let me know.

Carol Cei
ReMax Action Realty
215-643-9661
carolcei@remax.net
0 votes Thank Flag Link Wed Sep 8, 2010
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