Dirt Cheap Housing Market – Dayton Ohio Ranks 7th

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Location, Location, Location……Dayton, Ohio ranks seventh out of the top ten “Dirt Cheap Housing Markets” across America, according to an article written by CNN Money. Although some would say “Well that’s not good!” I am a “glass half full” kinda guy and would like to point out the positives. For those of you out there trying to achieve the American dream of owning a home, you’re in luck! Not only does Dayton, Ohio offer some cheap housing opportunities, but interest rates are at an all time low (30 year fixed – 3.985%), which makes it all the better.

So from a buyer’s perspective, when I see the headlines reading “Dayton Ohio Ranks in the Top Ten Cities For Dirt-Cheap Housing,” I try to not take it so personal and instead look at it as a great opportunity for first time home buyers to finally own a piece of the American dream. If you are thinking about buying a home in Dayton, there is no better time than now. I can remember October of 1981 when a fixed rate mortgage was 18% and a year later in October 1982 when people were beating down the doors of local home loan lenders to get 16% fixed rate mortgages (you can pick your jaw up off the floor now!).

History of Interest Rates & Mortgages

There Are Benefits To A Cheap Housing Market In Dayton OH

If you are in the process of selling your home or thinking about listing your home for sale in the near future, you’re probably asking yourself, “What about us, the sellers?” Well, real estate is a two way street – sometimes you win and other times you win bigger. My way of thinking is: being a homeowner is never a bad thing – just think about the alternative. More often than not, the seller was once a buyer and also on the lookout for that “great deal.” As a seller you have a few options:

  1. Stay in your current home and wait out the buyer’s market
  2. Rent out your current home (turn it into an investment property)
  3. Sell at current market value (only entertain offers that allow for a gain – even if minimal)

A Cheap Housing Market Is Good For Buyers & Sellers

Whether you’re buying or selling, today’s real estate market offers plenty of potential. If you’re looking to buy, you’ll benefit from low interest rates and plentiful options. If you’re looking to sell, you’ll benefit from an eager group of buyers just waiting to find the perfect home. While some might see Dayton’s “Dirt Cheap Housing Market” ranking as negative, I see it as a great opportunity for everyone involved.