I'm another agent who will stand up and yell, "it's a great time to buy," that that is if you plan to stay awhile. even in the best times, you need to build equity, which will take at least 5 years, but consider everything. If you have money to put down, I mean a significant amount, then your equity is automatic. Do the math, even if you do loose some money in the home's re-sell how will it compare to the rent you will pay over those years? Money paid into a loan comes back, rent just goes away.

O.K. i am going to assume that the three years is fixed, other words you will off to somewhere else for sure.It does not matter to you if it is a up market down market or sideways market.The time frame is just too short and with todays low interest rates the renting vs. buying tax savings thing is a joke.This has been a selling point for the real estate industry for years but if i worked up a tax form for someone with the partlty inerest deduction now vs. a standard deduction they are suprised on how littld they saved.not to forget the moster property taxes that a renter doesn't have to pay.Also what if 2 years from now you get a great job offer somewhere else with a rental a couple months notice and goodbye but alot of people are chained to their houses right now and can't move.I know this question is old but it is nice to see the realors are starting to be honest about the buying vs. renting thing.

Hi. Altho as a Realtor, you would expect me to say automatically: "It's a great time to buy", and it is, but the real answer to your question is "it depends". Frankly, you have to do the math! How much down payment do you have? What price range are you looking at? How much would you otherwise be paying in rent? Maintenance/ taxes, etc. on a home? There are a lot of questions to answer 1st, even tho generally speaking, your rent money never converts to equity or a tax write-off. There are a lot of potential target areas w/in a 30 minute commute to Hopkins (also - be clear in your search when you speak to agents: Hopkins Hospital or the College Campus - have different traffic routes/patterns to be aware of). If you have more questions, please feel free to contact me at CallCleo@kw.com ! Good Luck in your search! Cleo Pappas, Esq. Realtor, Keller Williams American Premier Realty.

I personally feel that this is the best market to buy. Prices have dropped tremendously and some sellers are willing to pay your closing costs if needed. I have been working in both Baltimore & Harford County and I have seen some unbelieveable deals. I feel that you would be able to get a good tax break if you buy instead of rent. I also feel that it all depends on the home that you buy. You just need to be cautious and work with an agent that can negotiate you the best possible deal. I moved to this area a little over 5 years ago and I immediately bought a home. To me, renting is just not an option unless you are going to be in an area for 2 years or less.

I feel that if you will be here for 3 years or more, you will come out ok. Especially if you are buying now. People that bought early last year or in 2006 most likely paid too much and it will take them several years to recoup their closing costs, and other costs that were associated with their purchase since current prices have fallen. With so many homes on the market, you do have options! Take advantage of that.

I would be happy to sit down and go over some of the options that are available to you now if you have the time. I have a very good record of getting people great deals. A recent sale allowed my clients to buy a home that had sold previously for $712,000 and they paid $555,000. Of course, it takes time and effort to help a client get that great of a deal. It would be my pleasure to help you find the home of your dreams. Call or email me anytime. Tina Beasley

You would probably save a LOT of money by simply renting.

If you think that in 3 years you MIGHT like to move, but won't have to, then you might want to consider purchasing. I never recommend purchasing unless you PLAN to be somewhere AT LEAST 5 years, and even that is borderline. Seven years is typically the point where I say buying becomes advantageous. Buying is a LONG term investment.

It is almost certainly NOT worth it for that time frame. The market supply for that area is tremendous, and foreclosure rates are still increasing. I expect prices to drop slowly to moderately for at least another year, and probably two. If and when the market does turn around, it will be VERY slowly, and not significant enough to overcome your short-term losses.

There is simply no way prices will increase during the upcoming three-year span. Add to it all the 6% commission you will have to pay an agent to resell, and it's a no-brainer. Also consider the risk-benefits analysis. If you rent, there is no downside--you have no stakes in the housing market, which is a good place to have no stakes right now. If you buy, there is a significant downside: loss of some or all of your equity. Finally, Obama has recently suggested he may try to eliminate the mortgage interest deduction if he becomes president. This would not only take away a large reason to own, but it would further reduce housing prices by making homeownership less attractive--not good for your investment.

You would be wise to rent.

It is so difficult to predict exactly where we will be in 3 years. History shows that our market operates in fairly regular cycles. My best guess is that in 3 years, we will be beginning to trend back up toward a seller's market. The areas that you are looking into are very desirable areas which is obviously going to be a plus when it comes time to sell. As for schools, you will have to do this research and decision making on your own. An agent cannot ethically comment on which schools systems are or are not good ones. LDevnew@cbmove.com

I agree with Mansur that there are many excellent buys in Baltimore. (Note to anyone reading this: No, I'm not one of these "It's a great time to buy" across-the-board Realtors. It's just that there are some great deals and situations in the Baltimore area that you don't find elsewhere.)

With the 3-year time frame, though, I would make sure that you're getting a very good deal. For other areas, that'd be too short a time frame, but you should be able to make it work in Baltimore.

Good luck.

As long as you are not making lifestyle sacrifices, you can create a spreadsheet and compare your costs of ownership vs renting for the period in question, take into account the potential tax savings and come up with reasonable ideas as who what makes financial sense. No one has a crystal ball but I am optimistic about Baltimore and there are many excellent buys in Baltimore right now.