 Here is great news landlords and real-estate investors: as a result of the current downturn in the housing market, signifigant increases in foreclosure rates, and a general overall tightening of lending standards, millions of Americans are choosing to rent rather than trying to obtain a mortgage. Investors and landlords may be surprised to hear that vacancy rates of rental properties are at all time lows. What's more, asking rental rates are near all time highs. And, with increases in demand for apartments and rental houses, it is the perfect time for some rental property investments. "Rental housing is simply more attractive than for-sale housing for a lot of people at the moment. If they're waiting for a really great deal to come along before buying, they may be figuring that it's best to just rent in the mean time," says Abigail Johnson, supervisor of the National Housing Division. The numbers concur with William's statement, as the median asking rents were $1,052 for rental units completed during the third quarter of 2007, breaking the previous high of $1,025. This strongly suggests a general overall improvement in the rental market. Meanwhile, regional markets, including the Northeast, the West, and the Midwest have the highest median asking rents. The reported median asking rents in each region are at more than $1,150. While these rent prices are typical in places like the West and the Northeast, it is the first time rents levels have reached these levels in the Midwest. And not surprisingly, asking rent prices for existing apartments also have steadily improved and are either at or near all-time record highs, thereby signifying that the rental market is stronger then ever and a great time to capitalize on the mortgage crisis. As it is getting hard to get new mortgages due to stricter lending standards based on the surge of defaults and foreclosures, there is another way for homebuyers to buy a home with lease purchases. There are number of websites offering lease purchase agreements that require no new loans. Check out ButterflyLister.com, a highly reputable website of seasoned real-estate investors that can help homebuyers get into a home without a traditional mortgage. (Posted by: K. Skowronski)
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