Surge in ?Affordable? Rental Inventory

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No_Such_Reality_IHB

No_Such_Reality_IHB

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Is anybody else noticing a surge in rental inventory? Both a surge in inventory and a surge in the lower price ranges?

I have a standing agent listed for Costa Mesa and it's gone from one notification a month to one a day on new rental listings.

Checking OC Home Review shows Irvine with 319 rentals. Is that up? A quick check shows 33 seperate 3 bed 2bd+ homes for under $2500. I remember that being a much more spartan list. A full 79 places under $3000 with at least 3/2 configuration.

Craigslist with a keyword search of Irvine and 3Bed+ selected shows 968 entries. Same keywords and a max of $3000 shows 670 places, max $2500 shows 432... These seem way up too.

Has anybody been tracking hard stats on the rental listings?
 
IR, I remember a blog where you talked about two websites that had good rental information: First Team and anothe rone that I can't remember. I tried to use the search but haven't been able to find it...Thanks!
 
I watch rentals in Huntington Beach and there seems to be a lot more on the market in the past 60 days. I watch the OCRegister site, westsiderentals.com, craigslist.com and orangecountypropertymanagement.com.

One of the rather interesting aspects of what's going on now is the "new" landlords that are stuck with homes they can't sell are figuring they will find renters that have great credit, and are willing to put down two months rent to move in. I believe that these new landlords will find that they will have a hard time finding people to rent their homes under the terms they want. We will see.

Today I sent an email to a realtor that was advertising on CL. Her response was......"better hurry, lots of people looking at this property, won't last long..." My response........ha ha.
 
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