“Renting is the cheaper way to go!” Is this widely believed “fact” still true? According to the latest research, renters spend 5% more on housing than home owners. To find out why it’s more logical to just buy a home, rather than rent, and how the times have changed, visit Renters Outspend Owners on Housing.
Nationwide apartment rental firm ApartmentGuide.com says the majority of apartment seekers between June 2009 and June 2010 looked for apartments in the $500 to $700 price range, followed by $700 to $900.
Distance from the city center was also a factor, with the majority of apartment hunters seeking homes five miles form the city center, followed by 10 miles, then 20 miles.
These are the other top features that apartment seekers sought over the last 12 months:
• Washer and dryer in unit
• Pets (allowed)
• Air conditioning
• Some paid utilities
• Washer and dryer connections
• Furnished available
• Fitness center
• Swimming pool
• Short-term lease available
• Gated access
• Oversized closets
Sources: ApartmentGuide.com (06/22/2010)
Helping someone close to you buy a low-cost property – $50,000 or less – is a fairly straight-forward transaction, although it may require specific legal advice, says Charles Carter, an attorney and a consultant at Haint Blue Realty in Mount Pleasant, S.C.
Carter suggests that buying a property outright, using the gift exclusion ($13,000 for singles; $26,000 for married couples) to pay for a down payment and closing costs and then giving the recipient a 30-year mortgage on the remaining amount at 5 percent interest is a good way to go.
There won’t be any gift taxes. And the mortgage holder may later cancel the mortgage and gift what remains on the loan as another annual gift-tax exclusion.
Source: McClatchy-Tribune News Service, Charles Carter (06/03/2010)
Looking for a great place to rent? Come out to the Villiages of Castleberry Hills open!
When: Saturday, October 10, 2009
What: Open House
What to Bring:
$300 Security Deposit $25.00 App. Fees
3 current pay stubs/State issued I.D.
600 GREENSFERRY AVENUE~ATLANTA, GEORGIA~30314~404-523-1330
The vacancy rate for U.S. apartments rose to 7.5 percent in the second quarter, the highest rate since 1987, according to a report from researcher Reis Inc.
Second-quarter asking rent fell 0.7 percent compared to the same quarter a year ago to $1,040 a month. Including incentives, effective rent was down 1.9 percent from the prior year and 0.9 percent from the first quarter to $975, Reis said.
In some areas, including Las Vegas, San Francisco and San Jose, Calif., effective rents were down 2 percent from the first quarter.
“With general expectations of an economic recovery pushed back to early 2010 at the earliest, it seems likely that apartments will have to endure a few more quarters of distress, lower rents and higher vacancies,” said Victor Calanog, Reis director of research.
Source: Reuters News, Ilaina Jonas (07/08/2009)
Beautiful 4 bedroom and 3 bath home for rent near the West End area. Please let me know if you know of anyone who may be interested.
This is a very spacious home!