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Old 10-30-2016, 10:36 AM
 
Location: Nevada City, California
356 posts, read 703,654 times
Reputation: 454

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"Sacramento’s rents are so high that the capital region is now the fastest-growing rent market in the nation with year-over-year increases of 11 percent, according to Yardi Matrix, the real estate research arm of Santa Barbara software company Yardi Systems. Occupancy rates have hit 96.8 percent."

What can you rent in midtown Sacramento for $900 a month? Apparently not much | The Sacramento Bee
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Old 10-30-2016, 10:46 AM
 
8,673 posts, read 17,282,794 times
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The interesting thing is, "they" didn't stop building apartments in Sacramento's central city--we have had over 1300 new housing units open up since 2010, while in the remaining 95% of the city, less than 600 new units opened up (that's both for-sale units and apartments in both cases.) But, even though the central city saw the most housing growth, it also has the highest rents--and currently has the highest vacancy rate, according to the infographic posted in the article. Sounds like the rest of the city (and the region) has a lot of catching up to do.
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Old 10-31-2016, 07:45 PM
 
Location: 415->916->602
3,143 posts, read 2,659,627 times
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It makes owning my home a bargin. I was thinking about selling my home, rent an apartment, and buy another home. But if current rent prices>my mortgage, then I may not do it.
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Old 11-01-2016, 08:57 PM
 
Location: Planet Earth
1,963 posts, read 3,044,110 times
Reputation: 2430
Quote:
Originally Posted by 49erfan916 View Post
It makes owning my home a bargin. I was thinking about selling my home, rent an apartment, and buy another home. But if current rent prices>my mortgage, then I may not do it.
Find another home to buy, then rent out your old home for $$$$. I did that twice, and finally ended up selling two of the three, and taking the up-to-$500k 'deductable' on the profit since I was selling my principal residence each time - no taxes. Cha CHING!
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Old 11-01-2016, 10:56 PM
 
Location: 415->916->602
3,143 posts, read 2,659,627 times
Reputation: 3872
Quote:
Originally Posted by marcopolo666 View Post
Find another home to buy, then rent out your old home for $$$$. I did that twice, and finally ended up selling two of the three, and taking the up-to-$500k 'deductable' on the profit since I was selling my principal residence each time - no taxes. Cha CHING!


I cannot afford another home to buy without a substantial downpayment. I would have used the proceeds from my home to buy another home. Plus, i hate the idea of renting out my home since I heard horror stories...
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Old 11-02-2016, 04:09 PM
 
Location: Vallejo
21,882 posts, read 25,146,349 times
Reputation: 19083
Quote:
Originally Posted by 49erfan916 View Post
I cannot afford another home to buy without a substantial downpayment. I would have used the proceeds from my home to buy another home. Plus, i hate the idea of renting out my home since I heard horror stories...
Or take out an equity loan on your home for the down. Gets a bit risky leveraging especially if you can't afford the payments without the rent.

You can certainly rent in Midtown for $900/month, but yes you won't get "modern amenities." You won't get central heat and air, dishwasher, granite counter tops, stainless steel appliances for $900/month. It's been a long time since you could get that. Before they built all the new apartments in Midtown, they rented at a very heavy premium because there wasn't much availability. Mostly crappy apartments that hadn't been renovated for 50 years with some low-end '70s stuff thrown in. High-end really hasn't gone up that much, actually. When I was looking around 2008 it was about $1,200 to $1,500. Now it's more $1,500 to $1,700. On the low end you could find lots for $600-700. Now it's pretty tough to find things around $800-900 but they definitely still exist.

Last edited by Malloric; 11-02-2016 at 04:22 PM..
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