Getting your player ready...
The 2012 is well underway and the is finally showing signs of life. Agents are sharing stories of bidding wars in many markets as buyers are getting off the fence, ready to capitalize on still-record low levels of .
So is now really a good time to buy? In many markets yes, and some places are better markets for buyers than others. Knowing that some people might still be wary of dipping their toes in the real estate market, we looked at the places where it makes a lot of sense to buy if you live there. To determine our Best Places to Buy in 2012 list, we gave equal weight to several factors including: housing prices compared to local incomes home value trends (where home values have been stabilizing or rising over the past year and past quarter) unemployment rates and the change in unemployment rates over the past year whether buying makes more sense than renting. One caveat – just because your city didn’t rise to the top of our list doesn’t mean you shouldn’t buy there. If you’re planning to live in your home at least 5-7 years and have good credit, now can be a great time to buy in many markets.Grand Rapids, MI
are on the upswing in Grand Rapids, increasing on a monthly, quarterly and yearly basis according to . Home values are up 4.8 percent from April last year.The median home value is $108,000 which compares favorably with median incomes in the area. The unemployment picture is also improving in Grand Rapids, falling nearly 2 percent this past year. (below) ZHVI: $108,000 For sale: $129,900Phoenix, AZ
Phoenix is a poster child for the housing recession. Home values have fallen a whopping 54 percent since the peak of market. Currently, the metro is still working through high levels of foreclosure inventory; foreclosure re-sales made up 28 percent of all sales in April. This is actually good news, because it signals that investors are coming in droves to scoop up homes. All of this investor activity is starting to boost home values. Not only are Phoenix home values up, Zillow forecasts them to rise 6.5 percent this year. “Phoenix is probably the best example of a hard-hit market that is showing signs of recovery,” according to .Pittsburgh, PA
Home values in Pittsburgh have been rising for the past year, making it one of the better performing markets in the country. In fact, 87 percent of homes there sold for a gain in April – the highest rate in the country. (below) ZHVI: $107,800 For sale: $119,900 It might be circa 1929, but this grand, old home on a tree-lined street has been freshened up with new paint and updated with new windows, doors, tile and hardwood floors, glass block and back splash, also a new roof and garage. See moreOklahoma City, OK
Home values rose 4.9 percent in Oklahoma City this past year and the unemployment rate is one of the lowest on our list at 5.1 percent and falling. While some markets on our list represent markets that are showing signs of life after suffering from years of falling home values, Oklahoma City stands out as a beacon of stability, 80 percent of homes in April sold for a gain. (below) ZHVI: $108,200 For sale: $114,900 Neatly groomed, trimmed and cared for, this Oklahoma City home has an updated kitchen with new countertops, backsplash, stainless steel appliances, and cabinets. Walls in all rooms have been textured and freshly painted. Cathedral ceilings and bookshelves in living room. See moreRochester, NY
Rochester has been another steady performer throughout the housing crisis and while home values are down slightly for the year, values are rising on a monthly and quarterly basis. Rochester scored especially high in the price to rent category. It takes 7.3 years of rent to buy a similar home in Rochester, compared with the national average of 10.4. Buyers also have some negotiating room, 40 percent of listings had price cuts in April. 80% of homes sold for a gain in April. (below) ZHVI is $117,100 For sale: $129,900 This 3-bed, 2.5-bath cheery yellow Colonial home offers 1,860 square feet of living space and is located on a tree-lined street across from the Seneca Park Zoo. Charming details include leaded glass on windows and doors, hardwood floors, moldings and French doors to enclosed porch. See moreDallas
Dallas made our list with a high score in the affordability category, home prices are 5 percent below their historical average, even though home values have performed much better than most of the country, falling 15 percent from their peak. Buyers in Dallas also get a good bang for their buck, the median value per square foot in Dallas is $65, compared with $92 for the nation. (below) ZHVI is $121,600 For sale: $125,000 Enjoy Tri-Cities view from this traditional 3-bed, 2.5-bath home, which on the . Kitchen includes granite countertops, stone backsplashes, a black undermount sink, and cherry wood cabinets. Upstairs bedrooms include huge, Texas-size master suite and bath with sitting area, jetted tub & large 5 foot shower. See more



