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Article Published: 01-22-2010, 02:01:27

Las Vegas Not In The Top Ten Cities To Go From Renting To Buying

According to the latest Forbes statistics, renters in the following ten US cities have decided to purchase their homes and stop renting, taking advantage of the record low interest rates and, in many cases, the extended tax credit for the first-time home buyers. Economists predict a significant home-price hike in five years.

Whether to rent or buy is a complex decision, but timing is important. In many U.S. cities, the premium to buy--the difference between what you'd pay monthly to own a home, rather than rent--has dropped dramatically. If that's the case in your metro, the next thing to consider is whether your home will appreciate. In these 10 cities the step up from renting to buying is a much smaller one than usual, according to data from Dallas-based Witten Advisors, an apartment market consulting firm, and the five-year S&P/Case Shiller home price outlook is particularly good. If you've been considering trading in your lease for a deed, click ahead for some cities where it might be a good idea to take the plunge. READ THE ENTIRE ARTICLE

10. Metropolitan Statistical Area: Boston-Cambridge-Quincy, Mass.

9. Metropolitan Statistical Area: Charlotte-Gastonia-Concord, N.C.-S.C.

8. Metropolitan Statistical Area: Chicago-Naperville-Joliet, Ill.-Ind.-Wis.

7. Metropolitan Statistical Area: Cincinnati-Middletown, Ohio-Ky.-Ind.

6. Metropolitan Statistical Area: Denver-Aurora-Broomfield, Colo.

5. Metropolitan Statistical Area: Minneapolis-St. Paul-Bloomington, Minn.-Wis.

4. Metropolitan Statistical Area: Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.

3. Metropolitan Statistical Area: Portland-Vancouver-Beaverton, Ore.-Wash.

2. Metropolitan Statistical Area: San Francisco-Oakland-Fremont, Calif.

1. Metropolitan Statistical Area: Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.

 

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Article Published: 11-20-2009, 03:11:58

BEFORE YOU PURCHASE PROPERTY IN A COMMON-INTEREST COMMUNITY
DID YOU KNOW...

1. YOU GENERALLY HAVE 5 DAYS TO CANCEL THE PURCHASE AGREEMENT?

When you enter into a purchase to buy a home or unit in a common-interest community, in most cases you should receive either a public offering statement, if you are the original purchaser of the home or unit, or a resale package, if you are not the original purchaser. The law generally provides for a 5-day period in which you have the right to cancel the purchase agreement. The 5-day period begins on different starting dates, depending on whether you receive a public offering statement or a resale package. Upon receiving a public offering statement or a resale package, you should make sure you are informed of the deadline for exercising your right to cancel. In order to exercise your right to cancel, the law generally requires that you hand deliver the notice of cancellation to the seller within the 5-day period, or mail the notice of cancellation to the seller by prepaid US mail within the 5-day period. For more information regarding your right to cancel, see Nevada Revised Statutes 116.4108, if you received a public offering statement, or Nevada Revised Statutes 116.4109, if you received a resale package.

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