Thursday, March 24, 2011

Shortage of Rentals in Pensacola hits hard!! Rents are on the rise, now is the time to buy.

If you are a resident of the Northwest Florida area (I'm sure this is a national trend, but can only speak for our area) you need to pay attention to this short article!

As the number one leasing company in Pensacola, we have noticed a huge increase in activity on our rental properties. We have had 3-4 prospective renters fighting over the same home!

Supply and demand influences the real estate market intensely. Right now, there is very little supply for rental properties, and huge demand, which will spike rents up in the very near future.  Check out the chart I made below showing the number of homes rented in Pensacola since 2007.

As you can see from the chart above, the number of rental properties rented has tripled since 2007.  Conversly, the chart below shows the number of rental homes rented doubling the number of homes sold in our area.  Because there are fewer homes being sold (less demand and more supply) home prices will continue to drop in the near future. Because more homes are being rented (more demand and decreased supply) rental home prices will be increasing drastically!
With all that being said, check out historical interest rates. Coupled with this information, if you are a long-term renter who has never made the leap to home ownership, now may be your best time to do just that!
It also is a great time to become a landlord!! There is a huge demand for 3 and 4 bedroom homes in the Pensacola area, as well as in Santa Rosa County! Cash in on a foreclosed home, fix it up nice, and rent it out- let your tenants pay your investment property off. Pam Keen, broker at Realty Masters, specializes in Investment Sales. If you are interested in purchasing some investment properties, feel free to email her at Pam@PensacolaRealtyMasters.com 
To view a list of our available rentals in the Pensacola area, please visit our website at http://www.pensacolarealtymasters.com/

Thanks and have a great day,
Nicole St. Aubin, Realtor
Realty Masters of FL

4400 Bayou Blvd. #58B, Pensacola, FL 32503
(850) 473 3983 phone
http://www.pensacolarealtymasters.com/
 Find us on Facebook at http://www.facebook.com/RealtyMastersofFL