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Simply Do It / Posts tagged "rent vs. buy" (Page 2)

Condos for less than the cost of a Corolla

Dani Beit-Or 19.04.2011 Blog, Economics, Foreclosures, General Investing, Investment Properties, US Real Estate 0

By Les Christie, staff writerAugust 2, 2010: 4:15 AM ET

NEW YORK (CNNMoney.com) — The housing bust has made owning a home a lot more affordable — but in some places, prices are extraordinary; you can buy a nice condo for less than the cost of a new family car.

Some cities have dozens of attractive condominium listings selling for $50,000 or $25,000. There are some selling for less than a new Toyota Corolla. And these are not derelict hovels in crime-ridden communities: These homes are often in move-in condition and located in nice neighborhoods.

“Not to sound like a salesman, but there are some real bargains out there,” said Kevin Berman, a broker with Bankers Realty Services in Fort Lauderdale, Fla.

The housing bust has taken down the national median home price by about 23% since 2007, according to the National Association of Realtors (NAR). But condo have fallen even further, down about 25%. Read More

Trulia report shows buying cheaper than renting in most major metro areas

Dani Beit-Or 28.01.2011 Arizona, Blog, Economics, Florida, Foreclosures, General Investing, Houses, Investment Properties, US Real Estate 0

by CHRISTINE RICCIARDI

Monday, January 24th, 2011, 11:02 am

It is cheaper to buy a two-bedroom home than rent one in 72% of major metropolitan areas around the U.S., according to the Trulia rent vs. buy index released Monday.

The real estate data firm said increased demand for rental properties is driving the cost of homeownership down nationwide.

“Since the start of the Great Recession, many former homeowners have flooded the rental market,” said Pete Flint, chief executive and co-founder of Trulia. “Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets.” Read More

Rent vs. Buy: More Affordable to Buy in 72% of America’s 50 Largest Cities By Trulia

Dani Beit-Or 24.01.2011 Blog, Economics, Foreclosures, Houses, Investment Properties, US Real Estate 0

Trulia released the findings of its Q1 2011 Rent vs. Buy Index today. When we compared the median list price for a two-bedroom apartment, condo or townhouse with one year’s worth of rent for similar property, it’s actually more affordable to buy in 72% of America’s largest cities. To illustrate which cities are more affordable to buy or to rent, we created a cool interactive map to help people make smarter real estate decisions. Check it out!

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Trulia.com Introduces Rent vs. Buy Index

Dani Beit-Or 14.07.2010 Blog, US Real Estate 0

Dollars !
Creative Commons License photo credit: pfala

Today Trulia announced America’s Top 10 Cities to Buy vs. Rent and the Top 10 Cities to Rent vs Buy.  Trulia calculated the price-to-rent ratio using the average list price compared with average rent on 2 bedroom apartments, condos and townhomes listed on Trulia.com. To create the list, Trulia analyzed the largest 50 cities in America, by population.

Top 10 Cities to Buy vs. Rent

City Price-to-Rent Ratio
1. Minneapolis, Minnesota 8
2. Arlington, Texas 8
3. Miami, Florida 8
4. Fresno, California 8
5. San Antonio, Texas 8
6. Mesa, Arizona 9
7. Jacksonville, Florida 9
8. Phoenix, Arizona 10
9. El Paso, Texas 10
10. Las Vegas, Nevada 11

“At the peak of the real estate bubble, cities like Miami, Phoenix and Las Vegas were not affordable for many. Now the opposite is true,” said Pete Flint, co-founder and CEO of Trulia. “Home sellers in these hard hit areas are forced to lower their prices to compete with all the foreclosures on the market. As a result , these unattainable markets are so affordable it makes better financial sense to buy than rent.”

Top 10 Cities to Rent vs. Buy

City Price-to-Rent Ratio
1. New York, New York 33
2. Omaha, Nebraska 26
3. Seattle, Washington 25
4. Portland, Oregon 22
5. San Francisco, California 22
6. Oklahoma City, Oklahoma 21
7. Kansas City, Missouri 20
8. San Diego, California 20
9. Cleveland, Ohio 20
10. Dallas, Texas 19

“It is not a surprise to see cities like New York and San Francisco on the ‘Rent’ cities but I was surprised to see areas like Omaha, Oklahoma City and Kansas City on our rental list, “said Flint “We’re not suggesting that it’s unwise to buy in these areas, though – just that it’s significantly more expensive than renting. In many of these cities, even though home buying is much more costly thanrenting, prices are still much lower than they have been in a long, long time.”

To see the Top 50 City Rent v Buy Index, please click here to download.

Read Full article on truliablog.com