Rent vs Buy Index In Relation To Rent to Own

Hi Everyone,

   Hope you had a fantastic Mothers Day (if you are a Mom), and a great weekend. As always, I am overjoyed to have you back with me.

   Real Estate website Trulia.com has released it's Quarterly Rent vs. Buy Index, which analyzes the affordability of either Renting a Home or Buying a Home (per Trulia, "a two-bedroom apartment, condominium or townhouse") in 50 major U.S. cities.

To summarize some of the results (per Trulia):

* "Falling Prices and Rising Rents Make Homes More Affordable in Q2 Versus Q1. Current market conditions consisting of steadily rising rents, falling home prices and low mortgage rates have tipped the rent versus buy scale in favor of homeownership."

* "Since last quarter, buying a home has become more affordable than renting in nearly four out of five (80 percent) major cities; only in New York, Fort Worth and Kansas City was renting a less costly option than buying."

* The "Rent vs. Buy Decision in Coastal Cities", such as Los Angeles, Seattle, Boston, San Francisco, Portland and Oakland, "Depends Less on Home Affordability", and "More on Personal Finances"

   Let's take a look at this from our vantage-point; what does this mean for Rent to Own ? Basically, if Renting costs less that Buying the home outright (and paying off a monthly mortgage), then Renting to Own would certainly be advantageous. If Renting costs more than Buying, then this would come down to a decision based on Personal Finances, just as Trulia eluded to in the story.

What are your thoughts on this topic?

Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

Neighbors, Community, Charity, and Giving...

Hi Everyone,

   A Happy Friday to everyone out there. We had some great feedback regarding our Blog entry from Wednesday, titled, "4 Tips on Pet Friendly Housing", and we are glad that these tips were helpful. We are always available to answer any questions that you have via the comments section on our Blog.

   I would like to officially deem this weekend as, "Good Neighbor Weekend", and here are a few things that I suggest on this 2-day romp of "giving and caring".

   First: Make it a point to have a friendly discussion with one of your neighbors at least once this weekend. If he or she is outside, then stop your car and have a chat with them. Ask them how things are, how their family is, and how their work is going. This might seem elementary to some people, however, there are some who just cannot find time to do these things (I'm guilty as charged !). If you live in an apartment, visit a neighbor down the hall. It's all about interaction with people who share a common theme with you - location.

   Second: Get involved in your community. Now that the warm weather is here, many towns have weekend clean-up days. get involved in one of these. If you have kids, make sure you bring your kids along as well. It's important for them to see their parents pitching in. It sets a great example for them, helps keep your town clean, and strengthens your sense of community.

   Finally: Charity. This is a tough one nowadays, since most can barely find money to buy food and pay for basic essentials. But remember, it does not have to be money that you donate; you can donate non-perishable food (cans), old clothing, and other items. You can just ring a local religious organization, a non-profit charity, or you can even drop some items off in those large containers that are stationed in some shopping center parking lots (most are put there by the Salvation Army).

   The benefits to your neighbors, your community, and people in need are obvious. What's more, the feeling of "doing good" will carry over into your every day life and will shed some light on you. It's really amazing.

Try it out this weekend and let me know how it went.

Have a Great Weekend, and Happy Rent-to-Owning !