The St. John's Town Center area in Southside is growing again this, time is a new Luxury Residential Rental Community to be called 5000 Town. The project is well under way and is slated to be completed in November. The Complex will feature 130 luxury apartment units and will be located adjacent to the Season's 52 right on Big Island Drive.
If you really want to impress your dinner date, when you pick her up in the Ferrari, don’t mention it’s rented.
The same appeal, or lack thereof, can be attributed to home ownership. In Les Christie’s article on CNNMoney in February, he proposes that homeownership can be a true aphrodisiac. He throws out a staggering statistic that could explain the failure of so many young men out there to really connect with the hotties: They surveyed 1,000 single people, and more than a third of women said they would rather date a homeowner than a renter. (It was 18% for men). By the way, going back home to live with your parents basically kills your odds of scoring.
This brings to mind Robert F. Kennedy's famous quote: "There are those who look at things the way they are, and ask why... I dream of things that never were, and ask why not?"
Q: Why does the seller rent their home?
A: They don't know any better.
Q: Why doesn't the seller use a Lease Option or Purchase?
A: They don't know any better.
It pains me to say it. Here's another bit of news that proves the point that the percentage of realtors offering the "why not," creative approaches to selling real estate is very, very small. As of mid-2011, the Census Bureau cited a net increase of 1.4 million households that moved into rental housing – 4 percent more than the same period last year.
So apartment rentals are going from dead "flat" to rising. Does this make sense with so many options for the "accidental landlord," i.e., they couldn't offload the property fast enough, so they're stuck? The "accidental tenant" comes along with lots of income, albeit sporadically earned, or a credit score ding that's well on its way to healing, but hasn't disappeared fully enough for the bank to overlook it. I yearn for that day when we get the headline, "Rising Demand for Lease Options."