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Rental Basics in 06032 : Real Estate Advice

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Sat Mar 16, 2013
lb1373 answered:
Hey Dawn:

Not sure if you are still interested in a 4 bed/3200sqft/3 car garage home in Farmington, but, 15480' rented on 9/1/12 for $4000 per month and I got a couple into a 3519' rental for $3000 per month on 7/1/12. For 2013 three properties rented and the highest was 2412' for $3000 per month in February. I hope this gives you an idea.

However, rates seem to be inching their way up to 4%. The usual indicators are not working. Meaning, when equities go up the 10 yr goes down and rates go up. There have been inconsistencies here as of late. It takes 6 months for a fed change or rally (or whatever makes the market react) to resonate through the economy. I have a feeling the rates will be climbing by June. I hope I am wrong! I, too, own a home and would like to refinance again should the rates go into the 2% range. That said, it is a great time to buy if you are in a position to and if you are not here on short-term basis.

If you would like to talk further I can be reached at 860-481-9728. Feel free to call me.

Best,
Linda M. Byrne
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