Found this chart in a story on CNN titled “Foreclosures Spike – And Will Get Much Worse”.
With the number of Sacramento homes in pre-foreclosure, it should come as no surprise that Sacramento is ranked #7. In regards to the rental industry in Sacramento, all of this trending should help reduce vacancy rates as those unfortunate souls who lose their homes will become part of the tenant pool. And once vacancy rates drop, rents should then start to go up which should start to make Sacramento an attractive market for investors to buy more rental homes. Especially since the home prices in Sacramento should also continue to fall in the wake of all of this. In regards to home prices, no investor likes trying to “catch a falling knife” but it seems that a perfect storm is going to hit Sacramento in the next year and that a great opportunity to buy long-term investment property there will emerge.
In other Sacramento news, the Rentals.com Account Executive for that market recently got a mention in the Sacramento Bee:
