Back to school time is usually a catalyst for home sales during the summer but these days more families may be renting homes for awhile before taking the plunge to buy. New research numbers show that a higher percent of relocations are renting for a year, due largely in part to the need to sell their current home before purchasing a new home.
Housing markets that have seen the biggest plunges on home values have topped a new ranking of the best markets for rental-property investors. Looking at other markets, Charlotte is right in the middle with the rising number of rentals. Because home prices are falling and inflation climbing, rental real estate investing offers a promising opportunity for those with strong cash flows. And secondly, the unemployment rate and tougher lending leaves potential buyers renting longer and in need of rental homes.
Henderson Properties, Charlotte’s premier full-service real estate company has recently acquired the rental property portfolio of Biseworld Realty. The portfolio consists of approximately 70 single family and multi-family properties located primarily in North and West Charlotte.
“Our roots are in rental property management and our growth strategy is on course. The rental market is booming right now and services cover the entire spectrum of real estate needs. Biseworld’s portfolio will give us new homes to market to further grow our investment property division,” said Phil Henderson President of Henderson Properties.
The change in the market lately is with relocation. Many of the potential buyers relocating are choosing to rent for a year or so before they buy. Buyers want to make sure they have all issues with their existing home completed before buying, leading them to the booming rental market.