Yes...I agree that most inquires are for rental properties. I believe it's due to all of the homeowers who have lost their homes due to short sales, foreclosures or job loss. This causes former homeowners to seek rental homes in the same areas especially when children have been attending the same schools for several years. This reality it causing a shortage in rental homes especially in the Brentwood, Franklin and Spring Hill areas. Potential new residents to the area, thinking that they will rent something until they know if they are going to stay in Middle TN or they decide what area in which they want to live, tend to become tenants instead of buyers.
New residents to the Nashville area don't know these facts and are watching HGTV thinking that they can have their pick of rental properties without a problem. Many new residents not only want to negotiate rental amounts but they also want renovations and upgrades made to rental properties before they move in. We've had many properties listed with our office rental department that have had several potential tenants actually bidding up their monthly rental fees just to get into a particular school district or area of Williamson County. I think it's just a sign of the times but as those of us who have been through many cycles of real estate know, this too will change.
Could be they do not realize they can buy instead of renting( interest rates are awesome. Maybe they are not aware of the low down payment loan programs, most times a 1st time buyer can buy a home cheaper than renting. Most landlords want 1st and last month's rent plus a security deposit, most 1st time buyers can in into a home for $500 or less. If your thinking of renting call a lender first and they wil let you know what you can buy.
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