Good news for the local housing market. When it comes to getting the most for your money, Toledo is in the top five on a national list.
We talked to a realtor and a mortgage broker. They both say they weren't surprised by the ranking. They say your days are numbered to cash in on the great deals.
If you are looking for a good deal on a house Toledo is one of the best markets in the country. According to a study by the National Association of Home Builders, the Glass City comes in at number four in the entire country when it comes to the most affordable housing markets in large metro areas.
Jill Perry Smith from Welles Bowen Realtors says, "In 2007, the average price of a home was in the mid 120's. You certainly are getting more value than in previous years."
Rich Rucker is the managing broker at Faith Mortgage. He says the big inventory of homes on the market along with the low mortgage rates and the good deals put the American dream within reach for most people.
"Ultimately home ownership builds wealth. Most wealthy people got there by investing in real estate. Now the average Joe can come in and be a part of that."
While Toledo has some of the most affordable housing in the country, the local real estate market has been slow. Most experts say that trend will likely continue this year. So which city topped the affordable housing market list? Indianapolis followed by Youngstown Ohio, Detroit, Toledo and Lansing. The least affordable housing market in the US is Los Angeles. Good news for the local housing market. When it comes to getting the most for your money, Toledo is in the top five on a national list.
Source: http://abclocal.go.com
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