Home Buying in Moscow>Question Details

Joseph R, Home Buyer in Moscow, ID

Is the city of Moscow, ID growing or shrinking? Are market prices expected to go up or down?

Asked by Joseph R, Moscow, ID Tue Mar 6, 2012

I am wondering if this is a good time to buy a house and maybe sell it six years later after finishing college. I want to know if this is an investment worth considering at this time

Help the community by answering this question:

Answers

5
Hi Joseph,

Housing sales are up and the amount of listings being lower than they were one year ago in Moscow. This indicates a healthy real estate market in this area.
If you plan to be in Moscow for six years, it might be a better financial option to buy rather than sell. I would recommend that you meet with a local realtor and both options can be discussed.

Lynda Walters
Re/max Connections
Moscow ID
http://www.lyndawalters.remaxagent.com
0 votes Thank Flag Link Wed Oct 15, 2014
Moscow has always been priced way above other markets in the area due to the University being there, while charging much higher than average taxes thanks to a liberal city council. Moscow is the 2nd highest expensive place to live in Idaho, after Sun Valley.

I'm moving back to the area in a couple of months from Arizona and will be paying cash for a home; I will not be living in Moscow....
0 votes Thank Flag Link Fri Jul 5, 2013
Moscow is known for a fairly stable real estate market. While other major markets saw huge losses, Moscow's (Latah County) average home price changed only about 2% from 2010 to 2011.
0 votes Thank Flag Link Mon Apr 16, 2012
According to the US Census, the population increased about 10% in the last decade in Moscow.

In reference to your question "Are market prices expected to go up or down?"; the answer is "Definitely". Real estate is cyclical and prices go up and down and on overage have increased 3.8% annually for over 100 years. Therefore, if you bought a $100,000 property that compounded at 3.8% a year, you would have a home worth over $125,000 in six years.

It is always best to research the exact price range and type of property to make sure the fundamental economic principles apply (supply and demand, absorption rates, etc.).

A good local Realtor should be able to help you research this specifically. You might want to consider buying a duplex or fourplex so that your tenants would pay most of your payment and you might be able to live rent free!
0 votes Thank Flag Link Wed Mar 7, 2012
Hi Joseph
If you plan on staying in Moscow six years, it may be a better financial decision to buy rather than rent. There are so many different loan programs to explore and consider. I would suggest you meet with a local realtor and ask him/her to show you the benefits of both. With that information you will be able to make an educated decision on what is best for you.
Terri Guenther
Re/Max Connections
Moscow Idaho
0 votes Thank Flag Link Tue Mar 6, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer