Upstate: A Buyer’s Market or Not?

  |  March 15, 2012

from Flickr/Reclaimed Home

Our friends over at Reclaimed Home have been deep in a $200,000 home search challenge, touring, so far, through Putnam, Orange, Ulster and Dutchess counties looking for just the right spot to buy, renovate and, well, flip. The properties she’l looked at range from Italiantes to ranches, from tear down material to handyman specials. And here’s what she’s found: upstate New York real estate is not the land of plenty she’d hoped for.

“I’m about three weeks into the home search now. Guess what I’ve discovered? It’s not really a buyer’s market. Don’t let anyone tell you otherwise. Yes, prices are lower than pre-burst and the rates are low. It’s still a good time to buy, but be prepared for some competition.”

Anybody else feeling this way, or do you still think you now’s the right time to buy?

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