If you're only planning to stay a year, renting is probably a better option. I live and work just a few miles from Sierra View and have done some comparative market analyses for homes there recently. While well-priced homes are selling, prices in general, and prices of higher-end homes in particular, have been negatively impacted by foreclosures. We don't know when the number of foreclosures will decline, and we can't say with any certainty when prices in general will stabilize. Therefore, it's possible that a home you buy today will be worth less one year from now.

Remember, too, that the actual time on market is hovering at close to 9 months (the Pocono Mountain Association of Realtors) statistics say approximately 4, but many of those homes were listing previously for 6 months), so if you plan to stay in the home for just a year you'll have to list it for sale almost as soon as you move in.

Also consider the costs associated with buying and selling. 1% (of the amount borrowed) origination fee as a buyer, 1% (of the sale price) transfer tax both to buy and to sell, property tax, broker's commission when you sell, and so on. Chances are, these costs will exceed a typical year's rent, which in this area averages about $12-13,000 per year for a 3 BR home.

Seirra View is a great community with low HOA dues (homeowners association). There are several classy homes within the community and is divided into 2 school districts. This is a great area for commuters because it is fairly close to route 80.

In my opinion, the homes in Sierra View hold their value accurately. There does not seem that the resale of a particular home with upgrades in this development would be diffucult. Feel free to contact me with any questions and/or comments!