Best places to buy a home in 2012
Vera Gibbons' real estate review
- Duration 4:02
- Date Jun 10, 2012
Vera Gibbons' real estate review
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-- the housing market seems like all we hear about are foreclosures and instability but according to our next -- it could be a good time to -- So where are the best places to buy a home in 2012 personal finance expert -- very givens is here with her list thanks to see this morning good morning -- So the criteria that you put into this list is interest and take us through it and it is those lists of best places to buy into when it now so we looked at the affordability factor.
Which is you know affordability relative to incomes with home values I think stabilizing knowing -- and -- -- situation employment trends I think stabilizing things getting better in that particular that -- account right and then we looked at the price -- ratio below the ratio the more -- -- actually need to actually buy.
And then some deluded cherry picking and came up with and its geographic -- OK so we have this map and a folks at home and put some of these up on the screen let's start with Grand Rapids, Michigan right now values -- on the upswing here at nearly 5% over the past year.
Median home value right now as a 108000.
Which is in line with the local incomes.
-- -- -- percent of the housing stock in fact is affordable to a family at the median income level and the employment situation some prisoners well.
Phoenix Arizona this is -- the best example.
And a market that was hit really hard and right now.
Showing signs of an upswing right seven -- about laser down 54%.
From the 20% of sales people actually foreclosure south.
But that's actually pushing not use up is gonna investors coming in snatching at these properties and guys have been rising -- election expects that values we'll continue -- six and a half percent this year.
Home to my alma mater University of Pittsburgh Pittsburgh Pennsylvania on your list.
Right that the universities -- now values -- rising for the past year in Pittsburgh.
80% or nearly 90% excuse me.
Homes there actually have sold for a gain in the month behind -- is the highest percentage -- -- -- in the nation right and it's still very affordable still very affordable and still -- relatives some of the other markets Oklahoma City has something to celebrate right now there and it is heading in India.
The NBA finals a great place against -- and also -- -- all that right values reds and nearly 5%.
Very low unemployment team at a rate of about 4% right numbers on national average at eight point 2%.
And I think what sort of distinguishes us from some of the others on the list is -- -- Indians crash and burn and -- now on the upswing this one has been a beacon of stability throughout.
Rochester New York we're wondering if New York City would make the list -- six.
It's the only one though that would would be Rochester right so how values are down slightly for the year in Rochester New York that they have been rising on.
An interim basis on a monthly quarterly basis this one scored very high in the priced to rent -- at the lower the ratio.
The more sense it actually makes two by.
Just a few years -- rent buys your home about seven years vs ten for the national average -- nine so if you're just joining us on this segment these of the top places to buy a home in the United States right now most wanted Dallas Texas this one scored very well -- in the affordability factor right to -- huge affordability here.
Home and value in this area is just sixteen now to -- -- something for the national average -- Very good in the affordability factor.
Prices also didn't take a base hit is it in some these other markets only down 15% that we've heard a lot about Texas recently obviously for an employ unemployment -- doing a lot of things right.
So Memphis Tennessee also doing some things right and they have some stable home values there as -- also scored very well on the affordability factor in terms of the median home value vs the national average.
Median value per square -- is sixty dollars there person national average of 92.
And then you've got Dayton Ohio also scored very well in that category and then also scored very -- on home prices -- income.
And the price to rent regions like misses one makes very good sense to buy it supposed to.
It's -- -- in Dayton Ohio -- you tarantula he Miami's burg Ohio nice to see you guys and thanks to be arguments this morning great information this morning if you missed any of these go to foxnews.com we'll have the segment up on line --