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You are picking a decent time to buy a house in Rochester. Housing prices there are WELL below the national average..... only $137,000. And with that, you are talking about a 3 or 4 bedroom house with a basement (good chance it's a finished basement unless it's a brand new house) at least 1600 or 1700 sq ft, and probably close to a half acre yard.... in a good school district. Only caveat to that is the taxes on that house, depending on where exactly it is; could be as high as 5 or 6k. Rochester has a very stable market right now compaired to the rest of the coutnry which is in a frenzy. House prices are rising there, but steadily, as the employment picture slowly starts to turn around. If what many in the community and many economists have predicted comes true; and Rochester does become a hotbed for IT, biotech, and alternative energy; you could see house prices jump up a bit closer to the national average within several years; so now may be the perfect time to buy. Yes, Kodak has gone from a peak of over 60,000 employees (in the Rochester area alone) in 1982; to under 25,000 worldwide, and less than 15,000 in Rochester as of 2006. Kodak in the past year has been surpassed by the University of Rochester/Strong Health as the #1 employer in the area, and it is estimated that Wegmans may have passed them up for the #2 spot as well. The good news is that both of these now top 2 employers are doing very well. Even Xerox and Baucsh&Lomb are starting to get their feet back on the ground. Also keep in mind that while Kodak has cut over 40,000 jobs since the 1980s, there are still 20,000 more jobs in the area now than there were back then.
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