The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Drygulch Dan who wrote (203889)	5/23/2009 12:37:25 PM
From: Broken_Clock	Read Replies (1) of 306849

I had a broker stop by the other day from central Washington. He has a small trailer park be bought around 1980 and maintains it very well. Lowest rents in the area at $450/mo. Typical tenant stays 10 years. He recently got a vacancy and decided to raise the rent for the first time in over 5 years. He raised t to $550. His area is 80% hispanic, rural, farming country for wheat, apples, etc. Historically he gets maybe 9 calls, 3 actually show up to look and he picks the tenant. He canceled the ad on the second day after receiving over 200 calls. He could tell by the area codes the prospects were mostly out of state....Calif, Portland and also Seattle. People trying to get out of urban areas into the farm belt and get cheap rent, hoping to land a job harvesting wheat. Maybe you're looking in the wrong area for the depression Mr. Gatsby. -g-

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