Rent Prices Have Dropped in These 9 Formerly Hot Markets

Women carrying moving boxes
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You may have heard or seen firsthand how fast home prices have risen. In January, home value appreciation was 9.1% higher than one year prior, the largest annual increase since 2006, according to new data from Zillow.

Perhaps less known is this: The cost of renting is affected, too. But unlike with home prices — rising across most of the country — rents are up in some cities and down in others.

Overall, the cost of renting was relatively stagnant in the United States last year, say Zillow economists. The company, a real estate website, tracks and analyzes home prices and rents. The typical rent this January, $1,721, was up just $9, or 0.5%, from January 2020.

But that flat line masks big changes.

“The COVID-19 pandemic and widespread changes to work-from-home policies have also pushed many to reconsider what they want and need in their living space, and where it should be,” says Zillow.

Many workers were freed to work from home and live virtually anywhere, at least while pandemic lockdowns lasted.

Rents in pricey, formerly desirable coastal meccas — especially New York City, Boston and the Silicon Valley centers of San Francisco and San Jose — saw the most dramatic drops in rents.

Below, listed by the change from January 2020 to January 2021, are the nine major metropolitan areas where rent costs are down, according to the Zillow Observed Rent Index. Even with reductions, rents in these metros remain steep:

  1. San Francisco: $2,876 (down 9.2% from January 2020)
  2. New York City: $2,465 (down 8.8%)
  3. San Jose, California: $2,892 (down 7.2%)
  4. Boston: $2,277 (down 6.3%)
  5. Seattle: $1,866 (down 5.5%)
  6. Washington, D.C.: $2,006 (down 3.4%)
  7. Chicago: $1,614 (down 2.9%)
  8. Austin, Texas: $1,511 (down 1.2%)
  9. Los Angeles-Long Beach-Anaheim, California: $2,542 (down 0.8%)

In the rest of the 50 largest metro areas in the U.S., rent increased on Zillow’s index between January 2020 and January 2021. These increases were as small as 0.1% in Denver and as big as 10% in Memphis, Tennessee.

A recent analysis by MyMove, a website that helps people relocate, also found that many people who moved during the pandemic left crowded urban areas for (often nearby) smaller cities and suburbs.

MyMove analyzed U.S. Postal Service change-of-address requests filed from February through July 2020. It found that the number of requests for temporary moves — meaning requests from people who planned to live at the new address for less than six months — increased about 27% compared with the same period in 2019.

New York City (110,978 people moved), including its borough of Brooklyn (43,006), lost the most residents to moves, followed by Chicago (31,347), San Francisco (27,187) and Los Angeles (26,438).

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Source: moneytalksnews.com

5 Terrible Mistakes People Make Moving During a Pandemic

So much can go wrong during a move. Add a coronavirus pandemic, and a lot more can go off the rails, and the consequences can extend far beyond a broken lampshade. They can affect your health.

Nonetheless, according to a survey conducted in late March by apartment listing site RENTCafe.com, 60% of renters planned to go ahead with their move, while just 9% are putting it off until the crisis is over.

“Not everyone gets the choice of when to move,” says Mike Glanz, founder of HireAHelper, an online moving services marketplace. “Predetermined corporate relocations and moves due to evictions or escrow closings are forcing some people to keep their move dates in place.”

Plus, transportation has been designated an essential service by the federal government, and that includes moving companies, according to the American Moving & Storage Association. Yet Glanz urges anyone planning to move soon to check with their state or city government to make sure no limitations or regulations exist preventing movers from operating.

And the truth is that moving can be done relatively safely right now, if you take some precautions. To help point you to the pitfalls, here are some common coronavirus-related moving mistakes to avoid.

1. Assuming a DIY move is safer than hiring help

Hiring movers can be pricey, costing between $600 and $1,700 for a move less than 100 miles away, according to HomeAdvisor. Add the possibility that movers might be sick, and it might seem safer and smarter to go the DIY route.

True, renting a truck and rounding up a few friends or family to help you move may be cheaper—but it won’t necessarily be safer. For one, your friends and family might just likely be as sick as the movers. And odds are, professional movers should have the training and equipment (including gloves and face masks) to move things as safely as possible.

If you’re determined to move your possessions yourself, make sure to take all the same precautions. If you rent a moving truck, you’ll have to spend time cleaning it. Ask local truck rental offices about their process for sanitizing vehicles between customers, Glanz says.

Bring your own sanitation supplies to clean and wipe down the steering wheel, door handles, and any other high-touch areas. Use gloves when driving the truck and while opening and closing the back door and loading ramp.

And since the novel coronavirus can survive on surfaces, “I would recommend disinfecting the walls and floors of the truck before loading your items,” adds Justin Carpenter, owner of Modern Maids, a housecleaning service in Dallas and Austin, TX, specializing in move-in and move-out cleaning.

2. Not vetting your movers

If you do hire movers, you should vet them thoroughly. Glanz suggests checking to make sure a company is licensed and insured, for starters, and also checking for wording on companies’ websites about their commitment to sanitation and safety.

“That tells you they are taking their responsibility to everybody’s safety seriously,” Glanz says. “If a moving company has a history of positive, active interaction with customers, they’ll shine even brighter under tough circumstances.”

Make sure the moving company you use is taking extra steps to ensure safety during the coronavirus outbreak, including providing virtual rather than in-home estimates and no-contact options, according to AMSA.

3. Using recycled boxes and packing supplies

The novel coronavirus can live on cardboard for up to 24 hours and on plastic and steel for up to 72 hours, according to recent research published in the New England Journal of Medicine.

Using boxes and plastic bins that you already have on hand should be fine. But, if you need extra moving supplies, AMSA recommends purchasing new moving boxes and packing tape, and avoiding picking up free, recycled boxes from supermarkets and liquor stores.

Moving companies may also let you rent plastic bins, so be sure to wipe them down, inside and out, with disinfectant before packing your things.

4. Not prepping for your movers

Make sure you do what you can to pack and prep your boxes so they’re ready to go once the movers arrive. The reason: The less time spent moving your items means lower exposure risks.

“The faster a move can get done, the better and safer it is,” says Lior Rachmany, founder of Dumbo Moving and Storage in New York City.

This is also a decent argument to not DIY your move.

“The movers will do one straight transaction from point A to point B in less time than it takes the average person to do a DIY move,” Rachmany adds.

5. Moving in without deep cleaning first (and hiring help here, too)

Similar to hiring movers, hiring a professional cleaning service can be a cost-effective time saver, letting you focus on the move. A one-time housecleaning before moving into a new home averages $125 to $300, according to HomeAdvisor. And at a time like this, that may be money well-spent.

“A professional cleaning service already has years of experience cleaning hard-to-reach places or forgotten surfaces,” Glanz points out. “That comes in twice as handy now that it’s more important than ever to keep every touchable area cleaned.”

Before hiring a cleaning service, check online reviews and ask lots of questions.

“We’ve been getting a lot of questions about the products we use to clean and if we are taking any extra precautions,” Carpenter says. “Ask the company for recent references that have been served since shelter-in-place directives started rolling out. Call those customers and ask if they’d hire the service again.”

If you’re cleaning the place yourself, make sure to use products that actively disinfect and include ingredients such as sodium hypochlorite, ethanol, pine oil, hydrogen peroxide, citric acid, and quaternary ammonium compounds. And, don’t forget high-touch areas like doorknobs, light switches, faucets, and cabinet pulls.

Source: realtor.com

5 Most Horrifying Things Ever Packed for a Move

Broken plates and a mangled lampshade are fairly standard moving mishaps. But sometimes the truly crazy, surprising, or even embarrassing things happen when homeowners need to relocate. Even with the best intentions—and mountains of bubble wrap—people end up packing some strange and just plain off-putting things in an effort to get their possessions from point A to B.

Want proof? Enjoy the following moving tales so you’ll know what not to pack, lest you become a cautionary tale yourself.

1. Trash cans full of … trash

Larry Perlstein moved cross-country from Stamford, CT, to Los Gatos, CA, several years ago and appreciated the thoroughness of his packers. Everything was neatly wrapped and boxed and made it safely to the West Coast, he reports. But when he opened his wastebaskets, he realized they’d arrived full.

“The movers packed all the trash cans—with the garbage still in them,” he says.

Lesson learned: Empty your bins before the move, or your banana peels will join you on the journey.

2. A song that wouldn’t stop playing

Soon after Jenny Lilienthal and her family loaded their belongings in a 24-foot van and started driving it from Massachusetts to Florida, they heard a funny sound coming from the back of the truck.

“After we listened a bit, we realized it was our 3-year-old’s game, Gone Fishing, which was somehow triggered and playing music,” she explains.

Unpacking the truck to turn it off wasn’t an option. So, they spent the next three days listening to this jingle nonstop until it became forever drilled into their heads, like a moving theme song.

“It played cheerfully the whole way,” she adds. “And it nearly drove us nuts!”

3. Last week’s meal

Reba Haas, a real estate agent with Team Reba of Re/Max Metro Realty in Seattle, helped sell the home of a client who had hoarder tendencies.

“On moving day, the moving company told me that there were dirty dishes in the homeowner’s sink and she somehow convinced the movers to pack them up,” Haas explains.

Making matters even grosser, this was an international move—from the U.S. to Costa Rica.

“Nothing that might attract bugs or rodents can be moved,” notes Haas, who doesn’t know whether those dirty dishes made it through customs.

The movers admitted it was the most disgusting job they’d ever been a part of, but Haas insists they don’t know the half of it: “They have no idea what I went through for months just to get this client’s home ready to sell and pack!”

4. Stolen goods

It’s hard to leave certain things when you move, but some items must remain in place if they’re included in the purchase agreement. Haas, for one, recalls one seller who proceeded to make off with things that were supposed to stay.

“This seller stripped the house of its curtains, even though she’d earlier acknowledged that all window coverings were to stay,” Haas recalls. “She even dug up plants in the front yard and took them with her. She didn’t even bother to refill the holes with dirt!”

5. A dead person’s ashes

During one move, pro mover Yuval Beton and his team were prepped in detail about a client’s vase.

“We were told it was very important and that we were to take any precautions necessary to make sure it arrived safely,” he explains. With further probing, Beton discovered that the vase was actually an urn—and it contained the ashes of the client’s late husband.

“It was a nerve-wracking move,” he admits. Luckily, the urn was moved in one piece.

Source: realtor.com