• We have a strong and growing economy with low unemployment, so prospective tenants are likely to be able to keep jobs and keep paying the rent.
   
  
• Well maintained rental properties seem to be in short supply and are renting quickly.
   
  
• We are seeing slow and steady growth in home values which doesn't shown signs of stopping -- meaning your rental property is likely to continue to increase in value.
   
• If property values keep increasing over the next few years, as most expect that they will, there is not some "better time" than now that will be coming up in the near future.
  

• Inventory levels are low, resulting in a seller's market -- meaning you won't be buying a rental property at a discount -- and you may be competing with quite a few intended owner occupants when you are making an offer.
   
• Home values are not currently depressed with a likely quick increase in those values in the next few years.  Thus, it is very difficult to buy "below market" and have any "instant equity" in the immediate or near-term future.

There are a variety of other factors that could be put on one of the lists above -- but at the end of the day, it is not a clear or obvious decision to buy or not to buy.  Some of the factors that should likely weigh in as you think about this decision are:

• How long do you plan to own the rental property?
   
• What are your investment goals?  (cash flow now vs. value later for example)
   
• Are you willing to invest in another market if you could find one where the opportunities seemed to be better than in Harrisonburg?

Below, then, also are a variety of resources that might be helpful to you as you think about this decision and as you consider specific rental properties....

• HarrisonburgForeclosures.com (upcoming foreclosure sales)
   
  
• HarrisonburgInvestmentProperties.com (overview of categories of investment properties)
   
  
• HarrisonburgInvestmentProperties.com/tools/ (Excel files of analysis tools)
   
• HarrisonburgTownhouses.com (overview of townhouse communities)
   
• NewListingsInHarrisonburg.com (review or sign up for email alerts for new listings)
   
• JustSoldInHarrisonburg.com (review, search or sign up for email alerts for recent sales)
   
  
• HarrisonburgAssessments.com (find City/County assessment and tax record data)

Recent Articles:

• There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase
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• Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later?
• How Much Slower Are The Winter Months In Our Local Housing Market?
• Rockingham County and New Home Sales Drive Surge in Area Housing Market
• Find The Balance Between Optimistic And Realistic Home Pricing
• Room Size Is Difficult To Understand Solely From Real Estate Photos
• How Much Would You Value Not Having To Prepare Your Home For Showings?
• One Out Of Four Homes Is Taking Longer Than A Month To Sell
• Consider The Cost Of Your Planned Renovations When Planning Your Offer