Why rental condos will be hard to find in the coming year

[Orlando, FL]    Now that home prices are rising, many investors and landlords are putting their investments back on the market for sale, thus reducing the availability for those looking to rent.

This will result in an increase in investment opportunities and more options for home buyers. However this will reduce the availability of rental units that were a great catch in the early real estate market decline.

Another common turn that the real estate market is observing is “renters” turning into “mortgagors”. Renters have discovered that renting is “throwing money” away each month when they can pay the same amount and be paying towards the principle of a home.

Buyers are taking advantage of financing availability with some loans requiring as little as 3.5% down. Buyers are also finding it easier to qualify for loans considering Fannie Mae restrictions on condominium loans that were put in place during the market crash are beginning to see a lift.

Florida Real Estate Advice & Consulting Contact: VR Universal Realty

 

 

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