Our local MLS has 50 DETATCHED homes for rent as of December 1st. I cruised through them and note the DOM and initial date of the listing.
Many of this listings have been in the RENTAL section of the MLS for months with no rent reduction. While approx 20% are also for SALE, that means that many listings are ACTUALLY not being marketed FOR LEASE....they are STALE or ABANDONED.
Many of these rental listings may have been OVERpriced to begin with; however, when the leaves started to turn and the heat came on, they should have had a SYSTEMATIC and ROUTINE price reduction schedule to get them rented.
Few are actually posted on our local Craigslist as our MLS does not have a html export feature so these rental listing agents have to DOUBLE input the listing information and photos into a postlets format AND if they do this without watermarking the photos first, the listings are subject to being scammed.
...meanwhile, back at my computer, I am organizing my 2012 rental renewal calendar and organizing my available properties for the SUMMER of 2012.
Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous