Is Rochester area affected by this real estate bust?
We saw lot of houses showing a decline in its true value(at least, this is what I saw in the west coast). Is this the same thing for Rochester area? Is this a buyers market in Rochester too? I am interested in purchasing a house, but wanted to make sure that this is the right time.
Danrama: Prices in Rochester have remained fairly steady, especially compared to California. Yes it is a buyers market though, and for first time homebuyers it is the best opportunity I have ever seen. Prices are reasonable, inventory is good, rates are historically low and there is a $7500 tax credit available to first time home buyers right now.
Denrama, if you're renting right now, buying almost any time is a good time. Renting is just throwing money away. If you're buying and plan to stay in the house at least five years, it's a good time to buy. Interest rates are historically low and prices almost everywhere are down. I really don't know of too many areas that haven't been adversely affected by this market. If I can help you in any other way or recommend a good agent to you in the Rochester area, please let me know.
Happy New Year!
Ralph Windschuh
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com
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