Check out this latest news! According to the Bratton report this month, median sales prices have increased approximately 4% annually since 1997 until now. Despite the ups and downs in the market over the past few years, the average median sales price has continued to rise. We are now looking at a healthy and growing market!
Our monthly newsletter touches on the up-and-coming investment in rental properties. The demand for rental properties in Central Oregon has been booming, leading many people to ask the above question… is investing in rental properties the way to go? Read the article below for a breakdown of the risks, rewards and benefits of owning rental properties.
Investing in Rental Property:
The Risks, Rewards, and Benefits
of Owning Rental Property
All indications suggest that the rental market will continue to improve because of low vacancy rates and rising rents. In fact, the demand for rentals is predicted to far exceed supply through 2015, with some 4.5 million new renters expected to enter the market in the next five years.
One area of the real estate market that is thriving right now is rental property. In the first quarter of this year, landlords and property managers across the country have rented more apartments and homes than they have during the first quarters of the past ten years. The amount that renters are willing to pay has also jumped to a nationwide average of $991 per month.*
It just might be the right time for you to consider refinancing your home. If so we can refer lenders that might be the right fit for you. Let us know what you think! We would love to have you as a fan on Facebook!
Refinancing: What You Need to Know
Thanks to all-time-low interest rates, the number of homeowners refinancing their mortgages is at an all-time high. Of course, no one should refinance just because everyone else is doing it. But, for many homeowners, the benefits are simply too good to ignore any longer:
Save money each month. According to the latest figures from Freddie Mac (the country’s largest purchaser of home mortgages), the average homeowner who refinances is able to cut their monthly payment by $108 (or almost $1,300 per year) for a $200,000 loan.
Save even more in the long run. If you currently have a 30-year mortgage, refinancing with a 15 year version can save you thousands of dollars in interest over the life of the loan, plus allow you to build equity in your home faster than ever.