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Old 04-19-2017, 11:37 PM
 
Location: Los Angeles
4,627 posts, read 3,396,306 times
Reputation: 6148

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Quote:
Originally Posted by BRinSM View Post
I'm a homeowner and I rented out my house a couple of months ago in less than a week. I got 10% more than the property manager suggested initially with a 1.5x deposit. Not only that, I got an offer for 20% more than the suggestion (which I passed on due to applicant issues). This was the first time renting out my home so I can't compare to prior years, but the market does seem to be tilted in my favor.
What happened? The valley heat get to be too much for you?
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Old 04-20-2017, 06:56 AM
 
Location: Southern California
4,451 posts, read 6,801,295 times
Reputation: 2239
Quote:
Originally Posted by BRinSM View Post
I got an offer for 20% more than the suggestion (which I passed on due to applicant issues).
Those are the people driving up the rents and there are enough of them around.
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Old 04-20-2017, 09:10 AM
 
83 posts, read 122,354 times
Reputation: 107
LOL @ soft market. The only rentals that stay too long are priced way too high for the area. I saw a post on FB today where some girl was renting out a "partition" in her living room in Los Angeles. There are more people in LA than housing, and the people are expected to continue to grow.
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Old 04-20-2017, 09:13 AM
 
83 posts, read 122,354 times
Reputation: 107
Quote:
Originally Posted by 69Charger View Post
I don't think prices are falling, lending is too strict, and there is a property shortage.
Lending is not too strict right now; it is about where it should be and interest rates are historically low. The lending practices today are still stricter than they were in 2005 (thankfully), but the difference is if you are competing for housing in a desireable area, there are people who can put well over 20% down. You won't win the bid without cash on hand. That has nothing to do with lending.
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Old 04-21-2017, 10:03 AM
 
Location: Los Angeles
1,440 posts, read 1,240,103 times
Reputation: 1237
This was an interesting read! There are a few places in, my building that are available--and have been for a while, now. I've even seen the rent go down. I'm in a very good area of MDR and my building is very nice. Additionally, I've seen more and more rents go up (and then prices lowered) down on the speedway, etc, in MDR, which is usually pricy.
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