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Q: Should I purchase a home if I don't plan to be in the area for more than a
 year or so? 

A: Thank you for your question!  

A few years ago, when property was selling like hot cakes, I would have said yes.  Even today, as a buyer, I know you could get out in the marketplace, and find a good deal.  However, when it is your time to be a seller, you will have a problem.

With the lag in the market, average market times (the number of days the property sits on the market before it is sold) are increasing.  The type of property, neighborhood and condition all are important factors when trying to figure out the demand for your property, and how long it would take you to sell it.  Honestly, I would recommend that you ask your neighborhood real estate agent to generate an Area Market Survey.  That report will tell you the market statistics and  for properties in a particular area.

Again, please consult your neighborhood real estate professional to help you as soon as possible! 

If you have a question you would like answered, please email keisha at propertymaven.com, and I will do my best to find an answer for you.  Check back here daily, for more real estate answers, statistics, and fun!