Bryan-College Station investors and homeowners...you definitely want to pay attention to this weeks blog because it is about the extremely relevant topic of renting.
For the past few years, Bryan-College Station has had the good fortune of experiencing an extremely active rental market. Investors everywhere started to notice that there was something exciting happening here in BCS. Homes were purchased and fixed up or built to accommodate Texas A&M University's growing academic population. The appreciation rates in Historic Southside, Eastgate and Northgate skyrocketed (which will be touched on in a later blog post-stay tuned!) and everyone involved was seeing great returns on their investments. Fast-forward to this 2017 rental season, and we have all noticed a steep decrease in the rental market movement. What we are experiencing now is a saturated market. The over-saturation of the market comes from having a mismatch of supply and demand. Texas A&M University unveiled their newest housing project this year, Park West, which is a mega-housing community that is the largest of it's kind. This new addition, along with the many new apartment complexes and new student homes being built, have all contributed to the 300+ homes, condos and townhomes currently unrented.
The reason I'm writing this blog is to assure you that this market saturation is not the end of the world! Do not make a snap judgement and fire-sell your investment properties. The market will eventually correct itself, and the university will continue to grow and people will continue to move to Bryan-College Station. For some investors, selling your investment may be the right decision, if you are not wanting to wait for the market to correct itself. For others, lowering your rent and offering short term leases may be the option that best fits your investment goals.
Contact me anytime for more information. I would love to help you evaluate your current investment properties, and develop a plan of action!
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