Forget buyers.  These days I feel more like a leasing agent,  but I’m certainly not complaining. Right now the Plainfield IL rental market is hot, Hot, HOT!

The amount of investors in the market that are helping to clean up the foreclosure mess have created a great inventory of homes that renters have to chose from.  Most of my weekly phone calls are from families recovering from low credit scores and looking to get into a single family home that they will have an opportunity to purchase later through a lease option, or through the right of first refusal.

Investors that have purchased in this market with the intent to buy and hold their real estate investments have a steady supply of consumers that are in demand of their product, but it is not without risk.  Due to the recent events in the economy, many of these consumers do have credit challenges that make the chances of finding a renter with good credit more and more unlikely.

Is there is a silver lining?  Of course.

Many of these renters will do anything to get back into a new home, and that means a new-found responsibility to their finances and debt obligations.  Homeowners who are climbing back up the ladder after filing for bankruptcy, suffering a job loss, or losing a home to foreclosure still need a place to live.  Given the high amount of foreclosures and bank owned properties in Plainfield right now, there are a lot of families looking to fill these vacant Plainfield IL rental properties.

Julie Ferenzi | Realtor®
Plainfield IL Real Estate
630-673-6233