Pennsylvania Areas Considered Great Places to Find FSBO Homes

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Buyers looking for residential properties, including FSBO homes, might be better off heading to Pennsylvania. A couple of local areas in the state have been chosen by analysts as a great place to purchase houses from this 2011. Both Lancaster County and Pittsburgh were among the U.S. areas considered ideal for home-buying.

Bank foreclosures in Pittsburgh and other residential properties offered on sale in the city are considered great deals by market analysts. Both Pittsburgh and Lancaster County are ranked inside the top ten of most desirable metro areas in the U.S. to purchase houses this year, with Pittsburgh ranking higher than Lancaster County at number four.

According to housing market experts, the two locations are considered great places from which to purchase homes, because of the affordability of their residential properties, including Pennsylvania bank foreclosures, and the level by which prices of housing units have appreciated in the past and their potential to increase further this year. Unemployment levels were also considered, with both Lancaster and Pittsburgh scoring high on all counts.

For sellers of FSBO homes in these two areas, analysts stated that 2011 might be a great time for them to enter the market as buyers will be encouraged by the strong market performances of both metro areas. In Lancaster, for example, local realtors revealed that average home values are over three times the median income of households in the area. Moreover, it has been this way for many years, even during the worst of the housing industry crisis.

The number of home foreclosures for sale is also low enough not to cause a drastic decline in property values. Lancaster has a foreclosure rate of 0.4% last year, with unemployment rate pegged at 7.5% according to November data, the latest labor market figure available for the region. Analysts also stated that the unemployment rate is on its way down, given the signs seen in the county in the past two months.

Pittsburgh and Lancaster County are considered top notch places for home buyers this year, and analysts have stated that sellers of FSBO homes and other residential properties should take advantage of this trend and get their properties out there for potential buyers to see.

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