&bear on; Sept. 18. 2007: CUT half point to 4.75%
&bear on; June 29. 2006: UP quarter point to 5.25%
&bear on; March 28. 2006: UP quarter inform to 4.75%
• January 31. 2006: UP quarter point to 4.5%
Irvine’s average rent has increased 24.6% over the past four years according to the report. Units at The Village apartment complex near Irvine Spectrum Center range in price from $1,545 to $3,500 according to the Village’s Web site. The amenities at the complex consider an on-site Starbucks and dry cleaning service a fitness bear on with meditation and movement studios and a resident theater. Irvine’s education system safety records and vast open space may inform why residents are willing to pay the higher rent to be in Irvine. “Irvine has very very nice properties and newer construction,” said Eric Wiegers operations director of the California Apartment Association.
This entry was posted on Wednesday. October 3rd. 2007 at 7:47 pmand is filed under. You can follow any responses to this entry through the feed. You can or from your own place.
This is why I disagree with you regarding,selling your primarry residence.
You cashed out in 2005 and wait for your play in Aliso….
That is all fine and dandy if you purchased after 2000
The mortgage on a simple condo would be compete to market rents!!
For Example:locate mortgage for the Wifes condo in Aliso is $1,800. $2,200 for all.
Purchased for $220,000 apraised at the peak at $510,000.
Ya it has taken a come down like everything else however,
Our neighbor rents the same 2 Bdrm unit for $2,000,That unit has no upgades and has never been remodeled.
Always undergo a primmary residence over time Rents in CA only go UP.
You asked my why I desire the ADVISE & discuss of others?
You said” If I realy bought and traded Gold ” Why would I ask Graphix discuss.
One of the most influential person of all time said:
cause to be perceived populate ask question,Fools like to listen to themseves communicate.
My advice is not to get confused about the differnce beteen the “leading” and “lagging” merchandise indicators they use as a basis to give their own particular view. Employment is “leading” rents is “lagging”.
Just as the “Median” home price does not reflect what actual prices would do if many OC homeowners had to change within the next twelve months the increase on OC rents in the “past four years” is nearly useless today. It reflects the spending (and increased income) of construction workers real estate agents and mortgage brokers (not counting ancillary businesses such as home furnishing title insurance and appraisals) as particularly OC benefitted from the boom.
What it does not designate is the significant loss of income many of those populate are now suffering (although holding on with savings and ascribe cards) and the ever growing glut of investment condos and homes that will flood the market as soon as people course their savings hoping for recovery in sales. It doen’t reflect the likely cutbacks at restaurants goverment agencies and department stores once the people directly employed in real estate forbid spending and paying property taxes.
Don’t get too excited over what the rental rate has done in the past four years friend act the time RIGHT NOW to figure out what that be is likely to do in the next five years (meaning who ordain be left who can still afford those rents) because that ordain have a very real and enjoin impact on the future value of your OC real estate.
John had just posted an artical stating:non-comercial vacancy rates below 7%
Also did you see the current artical on the board?More function populate will need housing = renters. More dense urban living = More condos & apartments & Multi units. Less homes because of affordability in LA & OC.
This all pointed to Johns data showing:OC & LA rents up 6.5% for 2006OC & LA rents up 7% for 2007
A 24.6% increase over 4 years is eqaul to around 5.6% change magnitude a year. That is less than the reported 7%. I dont experience if the artical takes into be an increase in contract of an existing older complex (older than 10 years) or if this relates to newer developments.
You can not accuratly compare a mark new apt complex in a nice part of town to a 20 yo complex in a not so nice part of town. The same goes with the rest of the County. The three years I have lived in my complex my rent has gone up less than 3% a year. The displace before that was a condo I was there 8 years my rent went up less than 2% a year the whole time I was there.
I am sure my exp may be unique but I personally havent seen 7% rents anywhere and if it is an average that means there are 10% increases somewhere.
I’m in Lake Forest which is near Irvine. measure yr my contract went up 10% and this complex is notorious for raising rents to the maximum possible. My contract renewal just came up now and they’ve increased by 3% looks like a fill of rental list has hit the merchandise and rents are going DOWN not UP!!
Do you experience the “fill” is the cause or are you merely guessing?
Too bad it didn’t “flood” enough to keep your rent the same.
XHTML: You can use these tags: <a href="" title=""> <abbr call=""> <acronym call=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>
Forex Groups - Tips on Trading
Related article:
http://lansner.freedomblogging.com/2007/10/03/irvine-rents-up-24-in-four-years/
comments | Add comment | Report as Spam
|