Foreclosures are up. There's no secret there. But what's happening to rent prices as those who foreclosed their homes try to find new housing options by renting?
One realtor says home rental prices in the Coachella Valley are very reasonable right now because of the large amount of properties for rent. Many landlords who are renting out homes are even taking risks on renters with lower credit scores hoping to fill their vacancies.
Jeff Brandt of Windermere Real Estate says, "Generally their bad credit has come from a short sale or foreclosure reflecting a history that doesn't necessarily make a bad renter."
Just a reminder: lease and rent prices are negotiable and the apartment managers we spoke with said they haven't increased their prices. In fact they recommend that you should take advantage of move-in specials throughout the Coachella Valley.
Also they say, with all the vacancies, move-in specials, and deals out there, you're bound to find a place to rent that you can call home.
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