Concession Anyone?

No, not the concession stand at the ballgame or the circus. Although, the apartment rental market has turned into a bit of a circus recently. My reference to concessions concerns the FREE rent and discounts landlords are shelling out to attract renters right now. The Triangle vacancy rate sits at about 9.5% as of September 2009 and rents have declined more than 1% or 2% in some markets over the last 12 months. The News & Observer ran a feature on this today.

It seems like a natural market cycle with the unemployment rate rising and the overall softening we've seen in the economy. Are YOU lowering rents or working harded to keep units occupied?

Home Buyer Tax Credit Extended and Expanded

The $8,000 home buyer tax credit set to expire on November 30, 2009 has been given new life. This credit will now be extended until April 30, 2010 and expanded to include a $6,500 credit to buyers who have lived in their current home five or more years.

There are a few limitations, but this should help sales through the seasonally slow winter months. However, we could debate the long-term benefits and/or consequences.