How does Hillsboro OR rental market look for SFH (3Bd 2Ba) in 2011?

Asked by Mindy, 94306 Fri Jan 7, 2011

2010 was hot (from what I heard). Do not see rents coming down. Interested in a home for a family member and wondering if we should pay premium to location, proximity to schools work, cul de sac locations etc.

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Dave Sutton, Agent, Portland, OR
Sat Jan 29, 2011
Hi Mindy,

Yes is the short answer. The home that is a rental today was purchased for one of two uses: for the owner's home, or for the investor's return on investment. In both cases, all the things you mentioned are part of the value consideration. While it may not be so obvious in the case of an investor, a home on a peaceful lakefront with a mountain view will sell for more than the identical home adjacent to a smelly paper mill or noisy manufacturing plant. One reason is that the investor is always looking to the day when they want to sell. The other is they can get more rent for the lakefront than next to the paper mill. Even if the home was not purchased as a rental but is today, the same principles apply.
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Mindy, Home Owner, 94306
Sat Jan 29, 2011
Thanks for both the experts for providing alternate views. While looking at the rental, should a renter be ready to pay a premium for locational specifics such as proximity to school, backyard facing a greenbelt or bigger lot etc? I know that these are important during purchase but since rental is viewed to be a temporary situation, are these things still considered to be important factors in determining rental price?

I know that one way to view this is "whatever works for you". But in general, how does the market view these? Thanks in advance again!
0 votes
Kevin Sucher, Agent, Beaverton, OR
Fri Jan 7, 2011
A lot of sellers that could not get a “price” for their home have rented them in 2010. I have been hearing bits and pieces of good economy news at least once a week. If that keeps going and unemployment reduces, I think there will be an increase in home purchases. Because with the prices we have and you can get the financing it is cheaper than rent and a forced savings. With home buying on the increase rents will come down.

Kevin Sucher
Principle Broker
503-214-4139
ksucher@prunw.com
0 votes
Dave Sutton, Agent, Portland, OR
Fri Jan 7, 2011
The specific rental prices are best found on http://www.craigslist.com, but I don't see any changes in the market forces that would bring rents down in the next year or so
Web Reference:  http://DaveSuttonHomes.com
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