Check this out: Top 8 'best bargain' markets to be in 2012
Click on the link to read the article. I live in the Pittsburgh market so I'm thrilled to see us listed as #3. It confirms that I made a super decision to purchase this year. I'm sure the rest of you will feel great too after reading this!
The article makes me rethink about what we are going to do with our current home. Maybe we should try to sell it instead of renting. But...I feel like if I wait another 10 years it will be worth even more. Decisions. Decisions.
Ha! I thought my city would not make the list and guess what, at #8 there it was, Dayton. Woot! Last, but still on there! :-)
ReplyDeleteSo glad to see Pittsburgh on there! The nice thing about living here is that we never really had a bubble. No pop to climb out of.
ReplyDeleteRenting vs. selling is a tough decision. We definitely contemplated renting, but had a fair amount of equity that we needed to build the house we wanted. Not sure how close you are to drilling offices, but west of the city it's all "shale people." Chevron is bringing in hundreds of people every couple of months. Rental market is insane. We had a really tough time finding anywhere to rent (even the big complexes are full). Heard that even the Pirates were having trouble this spring finding housing for their new guys.
Who would have thought the Rust Belt of the Northeast would be holding strong? While Buffalo didn't make the list (although housing prices are relatively low and steadily rising), our neighbor less than 90 minutes away, Rochester, NY is #5.
ReplyDeleteCharissa, think about the rent you can command in 15 years versus what your mortgage on it will be (if you still have a mortgage payment then). The downside to renting it out is all the work you have to put in, times of it empty and still paying the mortgage and utilities. We pondered renting out our current home. But, decided I didn't want to deal with it....that and wanted all my equity in one big lump sum ;)
they obviously didn't take the city's football team into consideration when they put Pittsburgh at 3.
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