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May 4, 2012

What You Can Buy for $350,000

Syndicated — Don't look now, but the housing market is suddenly bearing signs of life. Many large metro real estate markets ar ]]> - some even posting gains in home values. For example, the Miami real estate market hit bottom in Q4 of 2011 and is projected to gain 5.6 percent in value between March 2012 and March 2013. Does this mean people should get off the sidelines? The answer appears to be yes, according to Zillow Chief Economist Dr. Stan Humphries.

"For people who have been waiting to time their home purchases close to the market bottom, it's time to start shopping," said Humphries.

And with this positive bit of real estate news, let's take a look at what $350,000 can buy in major metros in the U.S.

Chicago, IL

3719 N Newland Ave, Chicago IL (below)

For sale: $349,999

Square footage: 1,227

Whether it's the deep-dish pizza, the culture or the city skyline, people have been moving to the Windy City for decades. The third-largest city in the U.S., Chicago is home to the second-largest business district after New York. While many well-established companies have roots in Chicago, the city has also seen growth in startups in the past decade, including Groupon, Orbitz and CareerBuilder.

This Chicago home for sale is located 11 miles outside the downtown district. The 3-bedroom, 3-bath brick home was built in 1993 and features high-end details like a gas fireplace, steam shower, soaking tubs and basement with home theater and bar.

New Orleans

8416 Freret St, New Orleans, LA 70118 (below)

For sale: $358,000

Square feet: 1,729

Even though it's known as "The Big Easy," New Orleans hasn't had an easy time of it lately. Despite the lingering devastation of Hurricane Katrina in 2005 and now a Watergate-like scandal with its beloved NFL Saints, New Orleans roars ahead with its reputation for excellent cuisine, music and festivals. New Orleans median home values are presently $159,000.

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