Denise had mentioned in before that you should Buy Buy Buy in Sonome County.
There was an interesting article in the Business section of the Press Democrat today:
“Rents inched higher in Sonoma County during the second quarter as apartment vacancies tightened, according to a report issued Wednesday.
The vacancy rate fell to 4.5 percent in the second quarter, down from 5.2 percent a year ago. The average rent increased to $1,140, a 2.6 percent hike over $1,111 a year ago, according to RealFacts, a market survey and investment services company based in Novato.
Apartments have been steadily filling up in Sonoma County, the result of job growth and the continuing housing slump. As home prices fall, more families are staying in apartments instead of buying a home while they wait for the housing market to level off. Even with the decline, most rents are still cheaper than monthly mortgage payments.Across the Bay Area, 3.8 percent of apartments were vacant in the second quarter, the same as a year ago. The average rent rose to $1,489, up 8.3 percent from $1,375 a year ago.
— Kevin McCallum”
This means good new for investors, with rents going up and the tremendous buyers market we currently experience. Time to ad to your Real Estate Portfolio. Mabye a duplex unit, they tend to have long term tenants so less overhead. Some examples in Bennett Valley: a duplex on Lyn Ct and one on Hilliard ct, both are cull de sacs of Hoen Ave. For more info, just contact me.
Mirjam