Rentals are heating up, especially in Massachusetts.  Many people have short-sold their homes or have been foreclosed on, and they need a place to live.  Sadly, a lot of people in this position are families who are used to living in single family homes and having their own yard space for kids to play.  In many towns in Massachusetts, there are very few single family homes for rent in reasonable price ranges.  If you have a home that you’d like to sell, but you’re upside down, instead of short-selling the home or staying in it longer than you’d like, it might be worth the time to consider renting it.  If you have money saved, you may even be able to rent your current home and purchase your next home, while keeping your current home as a long-term investment.  To decide if this could work for you, feel free to email me at nikki.devaux@sothebysrealty.com and also reach out to Rick Scherer at MSA Mortgage who will be able to tell you if you’d qualify to keep your current home, rent it out, while still being able to purchase your next home.  Rick’s email is rscherer@msamortgage.com and his phone is 617-548-7425.

Here’s a great article from Realtor.org about the rental market!

http://realtormag.realtor.org/daily-news/2011/09/07/sweet-spot-in-real-estate