Wow, housing prices are really dropping in Sheridan

[hanneh]

Well, we gave up the idea of finding a rental (who wants to throw $1000+ away each month for a place that we don't even like?). Somehow we managed to get qualified to buy, even though we were not at all prepared. We're under contract to buy a house that I think we will be happy with, but we certainly are going to struggle, at times, with the payment. We feel much better about spending that money to buy rather than rent; just wish we'd had some time to prepare! We were about to commit to renting a townhouse for $1200 a month ($1200 deposit), because it was the only thing we could find that was decent/roomy enough and wasn't up closer to $2000/mo. I feel for anyone trying to find a rental in a hurry around here. Even many apts are over $1000 a month. I'm sure it depends on what you're used to, but I don't know that everybody's income has increased on that same scale, especially renters. Obviously the energy industry is keeping the rentals full up.

[Kristynwy]

Congratulations Hanneh... I am glad you were approved and found a potential home.

We are looking at having to buy something also, on the verge of being kicked out of our current rental and have to do something. In order to stay in the area that may our only option; we won't buy in Sheridan, but will consider Buffalo, which will be just as hard though. The one thing I am worried about is the stagnant marker right now, I have seen homes fall that I have watched all year that didn't sell.

If we can't make it work here, then we are considering moving to Laurel outside of Billings, I am just tired of moving and want to set roots somewhere... But I think the economy in this country will only get worse before it gets any better, which may just impact us eventually...

Best of luck to you and keep us posted on how things go... I hope the payment doesn't strap your family too much... Take care...

[dori36]

Originally Posted by Kristynwy

Congratulations Hanneh... I am glad you were approved and found a potential home.

We are looking at having to buy something also, on the verge of being kicked out of our current rental and have to do something. In order to stay in the area that may our only option; we won't buy in Sheridan, but will consider Buffalo, which will be just as hard though. The one thing I am worried about is the stagnant marker right now, I have seen homes fall that I have watched all year that didn't sell.

If we can't make it work here, then we are considering moving to Laurel outside of Billings, I am just tired of moving and want to set roots somewhere... But I think the economy in this country will only get worse before it gets any better, which may just impact us eventually...

Best of luck to you and keep us posted on how things go... I hope the payment doesn't strap your family too much... Take care...

Just a quick question here for you: Have you been to Laurel? If not, be aware that there is a fairly large oil refinery there and if you're downwind, it's pretty stinky! I used to have to pass through Laurel on my way to Billings (which was about weekly) when I lived in Cody.

[Kristynwy]

Originally Posted by dori36

Just a quick question here for you: Have you been to Laurel? If not, be aware that there is a fairly large oil refinery there and if you're downwind, it's pretty stinky! I used to have to pass through Laurel on my way to Billings (which was about weekly) when I lived in Cody.

Dori thanks for your reply Actually I have been on the outskirts, been to Billings several times.. but not too much in Laurel.

In a few weeks we are going to be up in the area for a few days, so we are going to do some driving around and exploring and see Laural and maybe some other small towns outside of Billings.

I knew there were several refineries in the area, so that is not surprising.
If I can't find a place to live here, but can there, as long as we have a roof over our heads I don't mind too much.

Thanks again for the heads up I will keep that in mind when we go and visit up there

[imbobbbb]

Originally Posted by Kristynwy

Dori thanks for your reply Actually I have been on the outskirts, been to Billings several times.. but not too much in Laurel.

In a few weeks we are going to be up in the area for a few days, so we are going to do some driving around and exploring and see Laural and maybe some other small towns outside of Billings.

I knew there were several refineries in the area, so that is not surprising.
If I can't find a place to live here, but can there, as long as we have a roof over our heads I don't mind too much.

Thanks again for the heads up I will keep that in mind when we go and visit up there

you should check out roundup,north of billings while you're at it

[wyoman]

Originally Posted by ElkHunter

Wow. I'm so sorry to hear this. I just sold my place about 10 days ago. 1800 sq ft, 3 bd, 2 ba, central air. Would have loved to rent it out. But got tired of getting somebody good into it so just gave up and sold it.

I wish you luck. The market is on the decline so there should be something available, but maybe not soon enough.

Have you inquired as to what the new owners are going to do with it? Are they planning on moving in, or are they buying it for investment purposes? Might want to call them or talk to them, you might be able to stay.

Where ya headin ?

[Kristynwy]

Originally Posted by imbobbbb

you should check out roundup,north of billings while you're at it

We were thinking about there too... Thanks for the suggestion


As an update, I had a pretty long talk with my husband this evening... and it looks like we may try to stick it out in Buffalo for now, because he has a really good job that is stable with a nice wage, and we would have to start all over again for his seniority, benefits ect...
I keep going back and forth... however our long term goal may be eventually to head to Montana outside of Billings somewhere... A difficult decision for us, we have been at this crossroad before last year in the midst of our struggle for a rental. I am wondering since prices are softening if we can get a good deal something and then scared to lose money at the same time if we buy at an inflated price. This economy really messes things up though, with the high cost of things it is hard to know what move to make next, and we are fortunate to be in somewhat of a stable area, compared to other states, and I am just afraid to make a leap and it be a mistake. We took too many dead ends in Oregon by staying there and it cost us dearly... we are still recovering a bit even.. Wyoming and Montana is a lot more stable than Oregon was for us though, so at least either place we will be better off than we were there...

Thanks for everyone's advice

[ElkHunter]

Originally Posted by wyoman

Where ya headin ?

Honestly don't know.

[heading-home]

Originally Posted by NVDave

OK, I'll try to make this as understandable to non-finance people as possible

NVDave, thank you for the input, it has been a great help!