Home Buying in Webster>Question Details

Denrama, Home Buyer in Rochester, NY

Is Rochester area affected by this real estate bust?

Asked by Denrama, Rochester, NY Sun Dec 28, 2008

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.

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George Dounce’s answer
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.
0 votes Thank Flag Link Mon Dec 29, 2008
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
0 votes Thank Flag Link Mon Dec 29, 2008
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