Is it Cheaper to Rent or to Buy?

I guess that depends on where you live.  

   In Dallas and its suburbs, you should buy.  However, if you move to Fort Worth, maybe you should rent?  New York City?  Definitely rent.  In fact, Inman News reports that It is cheaper to buy a home than to rent one in 39 of the nation’s 50 largest cities.  Inman cites a a quarterly report released today by real estate search and marketing site Trulia.

   The folks at Trulia have produced a rent vs. buy index that compares the median list price with the median rent on two-bedroom apartments, condominiums and town-homes in the 50 most populous cities in the U.S. listed on Trulia.com as of April 1, 2011. 

   Ken Shuman, Trulia’s spokesperson, stated, “With home prices nearing a double dip and more foreclosures expected to flood the housing market over the next two years, the decision between renting and buying a home across most of the country has clearly moved in favor of buying.
   “As we head into the summer buying season, those looking to buy a home should be encouraged by improvements in the market and feel optimistic about their chances of finding an affordable home — much more so than in previous years.”

   A price-to-rent ratio of 1 to 15 means that it’s much cheaper to buy than to rent in a particular city. 

Top 10 cities to buy vs. rent:

Rank	City	State	Price-to-rent ratio
1	Las Vegas	Nev.	6
2	Phoenix	Ariz.	7
3	Arlington	Texas	7
4	Fresno	Calif.	8
5	Miami	Fla.	8
6	Mesa	Ariz.	8
7	Jacksonville	Fla.	9
8	Sacramento	Calif.	9
9	Detroit	Mich.	10
10	Omaha	Neb.	10

Source: Trulia.com

   Inman reports that this index considers the total cost of homeownership compared to the total cost of renting. Calculations for total rental cost include rent and renters insurance.  The total cost of homeownership was highest, compared to the cost to rent, in New York; Fort Worth, Texas; and Kansas City, Mo.

Top 10 cities to rent vs. buy:

Rank	City	State	Price-to-rent Ratio
50	New York	N.Y.	39
49	Fort Worth	Texas	30
48	Kansas City	Mo.	22
46	Memphis	Tenn.	20
47	Los Angeles	Calif.	20
43	San Francisco	Calif.	19
44	Boston	Mass.	19
45	Seattle	Wash.	19
42	Portland	Ore.	18
41	Oklahoma City	Okla.	16

Source: Trulia.com
http://www.inman.com/

Working By Referral

When we enlist the services of any professional, aren’t we really looking for someone we can trust—someone proven who comes highly recommended and is willing to go the extra mile to help us achieve our goals?

Relationships Are More Important Than Transactions
  Working by referral is the commitment I have made to provide my clients with unsurpassed service whenever they need me, and to maintain long-term relationships that will offer added benefits for years to come. My primary source of new business is referrals from people who already know and respect me. Since I don’t have to spend excessive amounts of time prospecting and promoting myself, I can focus my time and
resources on the tasks that benefit you most, and always deliver truly exceptional service.

Service Above and Beyond
I devote myself to serving the needs of my best clients like you before, during and after the sale. I will stay in
touch and send you valuable information every month, and I’ll also call from time to time just to see if you
need anything. There are a number of ways I can help, such as researching your home’s current value, or suggesting improvements that will enhance its resale potential. And when you have a need for a particular trade or service, I know many reliable professionals that I am happy to recommend. If there is ever something that I can do for you, please feel free to ask.

You Control My Business
  I want to earn your confidence and your referrals; therefore I have a vested interest in making sure
that you are completely satisfied at the end of our transactions together. My goal is that you will be so
impressed that you can’t wait to tell your friends and family about me and the fantastic service you received

Oh, by the way... if you know of someone who would appreciate the level of service I provide, please call me with their name and business number. I will gladly follow up and take great care of them.

(c)Copyright 2010 Buffini & Company. All rights reserved. Used by permission

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