NEW YORK (CNNMoney) — As if record low mortgage rates and beaten down home prices weren’t enough to get prospective home buyers off the fence, there’s another factor that has made the case for buying even stronger: rising rents.
U.S. rents rose an average of 5.4% over the 12 months ended June 30, according to real estate website Trulia. Demand from former homeowners displaced by foreclosure and potential homebuyers who failed to qualify for mortgages have helped to send rents skyward.
“With rents rising faster than prices in most markets, buying is getting even more affordable relative to renting,” said Jed Kolko, Trulia’s chief economist.
Read more about which markets are some of the most attractive for owning investment real estate and income producing properties.
Often distressed properties either in foreclosure, bank approved short sales, or REO properties owned by Fannie Mae or Freddie Mac represent some of the most fertile fields for finding good investment properties. Finding those fertile fields can prove to be difficult sometimes. With the new mobile.beverly-Hanks.com, for your mobile device, you can use your GPS to find the foreclosure properties closest to you. Or use the search function to search for properties all over the Western North Carolina in communities like Asheville, Hendersonville, Waynesville, Lake Lure, Brevard, and Weaverville.