13 Responses to “A local conversation…..while waiting in a bank line.” »»

1. Anon
   Comment by Anon | 06/08/09 at 9:50 am

   On somewhat of a related note, friends who rent their vacation homes in Truro and on Martha Vineyards are having a tough time filling up all of their weeks this summer. This rental season is the worse they’ve ever seen it.

2. pain in the
   Comment by pain in the | 06/08/09 at 11:11 am

   According to Boston Broker, you just need interest rates to go up.

   John, why do you think there are so many vacancies? People leaving the city, people taking on roommates, more units available? Just curious as to your opinion.

3. John Ford
   Comment by John Ford | 06/08/09 at 11:52 am

   Piain in the,. My thoughts, I know of several individuals who have lost their mid to high paying jobs. As a result, they are calling me to see if they can work something out so they can break their leases with me. (I’m a broker but also a landlord). Trurth be told, I’m worried. The last several months my agents have put several properties under agreement which sounds good. As of today I have about 10 properties under agreeement for sale and about 12 rental lease signings coming up. But here’s the catch, or should I say this is the part that scares me. I have yet to obtain a good solid internet lead in the last two weeks for either for rent or sale. If interest rates go up…I’m in troublle.

   Perhaps, I’m overreacting. But ealry signals for sales and rentals look dim for me if I’m representing the seller or a landlord. On a postivie note, if you’re a buyer or renter, give me a call lets make a deal, plenty of room to negotiate.

4. pain in the
   Comment by pain in the | 06/08/09 at 1:47 pm

   Thanks for the reply John. I appreciate your candor. As I was reading your reply, I remembered the adage–if you’re going to panic, panic first.

5. Aaron Weber
   Comment by Aaron Weber | 06/08/09 at 5:50 pm

   I imagine I’m not alone in being a renter in the Boston area with a lease that renews each September… the off-season may be soft, but September will be the true test.

6. Jay
   Comment by Jay | 06/08/09 at 7:17 pm

   My Landlord has not so far sent me the lease for renewal. during past 6 years since I lived here, new lease came in every May 15 for Sept renewal. He always push for June 1st deadline for signiture, which really not nice. This year is different and I am in no rush to ask why…
   I live in Allston/Comm cross Harvard, should be crowd with students…….

7. Tom
   Comment by Tom | 06/09/09 at 3:13 am

   Being a renter, I really want to believe you. However, what I am observing is that apartments for September are not coming down in price. My landlord company already sent me a renewal proposal at the same price of $3,000. Unless you are talking about lower or higher priced tiers, I only wish I was seeing that. Oh, and by the way, if you know of any good $3,000/ month apts, please write me.

8. Tom
   Comment by Tom | 06/09/09 at 3:16 am

   Obviously, I meant apts that were downpriced from $3,000 or so.

9. Funny
   Comment by Funny | 06/09/09 at 3:53 am

   TOM,

   Do some searching and let the landlord know it. They might find it harder (and more costly) to fill a vacancy, then to knock off some rent.

   I haven’t been looking in BH/BB, but as anecdotal evidence I’ve seen some nice apartments up on craigslist consecutive months that have had to lower rents, and others putting up listings lower then hey went for around the same time last year.

   It’s a renters / buyers market. Do a little searching and play your hand while you can.

10. Beacon Hill
    Comment by Beacon Hill | 06/09/09 at 4:33 am

    My landlord just raised my rent 10% for my Beacon Hill apartment. I would love to fight it, but I just can’t seem to find many options under $1,000 a month.

11. paul
    Comment by paul | 06/09/09 at 5:08 am

    Beacon Hill, if you have an apartment for $1200 or less in Beacon Hill you have a great deal, or you’re living in a dump.

12. Jen
    Comment by Jen | 06/09/09 at 5:38 am

    If those Cape rentals were more reasonably priced, they might rent. Weekly rentals on the Cape were still way to high for me.

13. JohnF
    Comment by JohnF | 06/09/09 at 8:33 am

    Jen, I thought you might find this interesting from the Boston Herald:

    The economic and job-market uncertainty has an upside for those looking to summer on Cape Cod: Homeowners are more than willing to negotiate on prices for their weekly rentals.

    The link for the full story:

    http://www.bostonherald.com/business/real_estate/view.bg?articleid=1172795

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