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Jack
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Because the economy is so bad and the housing(forclosure) scandal is spreading, this makes Buffalo a good place to buy only cause the seller's market sucks because of the economy...
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John
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I don't know, but I bought my home in Kenmore 4 years ago for 87K and got and offer for 135 K this year, so I kinda like the housing market here!
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Former WNYer
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I totally agree with David's post and others who echoed him. The ones who say that the housing boom is a crock are uninformed and uneducated.
I moved to Northern California from western NY 9 years ago. The boom here was just getting started then, now it's a bust. I bought in 2003 and 2 years later had about $75k in equity. Now it's more like $10k.
At the market's height, houses were sold very very quickly (even fixer uppers in not so great neighborhoods). A lot of homes went for well above the asking price, basically to the highest bidder. I see that this is happening in Buffalo now.
A crock? No way, it's true. At least Buffalonians have the benefit of learning from the mistakes of the housing boom out here. Don't get into a mortgage that you can't afford and be careful about taking out equity loans, these are causing most of the foreclosures here.
And stop knocking Buffalo! If you don't like it, what are you doing about it?
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OK Now
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People the reality of Buffalo affordable housing private school in the equation grammar school 3000.00 a year 1st- 4 or 5th then it goes up to who knows what high school 6000.00-10,000 a year. Questionable at best city services, high water bills and utility bills. Costly auto insurance and maintenance for the cars because of city services "pot large holes" theft from vehicles or vandalism. Children have to be bussed across the city to make equality up. What ever happened to neighborhood school shopping maintaining property all the things I grew up with along with a few life long friendships. The founding fathers and our wonderful politicians have destroyed the idea of neighborhoods. We now have the survival of the ignorant which was bread down from the idea of equality. The only equality out there is how willing you are to sacrifice for the better of everyone. I sacrifice the most as the adult model in the house making everyone realize we have to work hard everyday to hopefully achieve independence before we are set to rest. Rattling on about days gone by sorry I'm crazy
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Joe
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David wrote: I came here for the "this can't be true, Buffalo sucks" statements and was not disappointed.
If ya'll are so impressed with the boomin' south, by all means go there.
You complain about unions, you complain about lack of jobs, you complain that we are not turning into a suburban wasteland like all these other great parts of the country.
In my little part of the region (in the city I'll add) I see young, smart, educated people making a go of it and raising families.
Stop your whining and contribute, or better yet move to Raleigh. Many of you, with your barely concealed racist statements, will fit right in. These people you speak of will only be able to succeed here if we have meaningful change with regard to unions and our government. We cannot continue to pay out 100,000 a year pensions, offer cosmetic surgery with our health care for public sector unions, etc. There is a chance the area will turn around but only if we elect new comers who will chart a new course.
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Joe
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The state has passed laws which benefit unions and work to destroy the long term economic prosperity of the region. The Apprenticeship law, the Wicks law, etc. At some point we might as well let the state run the local government because they mandate 90% of the budget through these laws and others and through laws which benefit unions. The local leaders are powerless in many respects.
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Charleton Heston
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Where did they get their data, Lord Byron ?
It is all a result of the 4.5 trillion dollars worth of development going on in Buffalo.
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Confused and Worried
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huh ? what development ?
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Tired
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This area is a great area to live in "if" you have a real good job.
CNN and Money Magazine have listed Buffalo and Niagara Falls as the fifth fastest growing real estate market in the entire country.
But look at the ranking. To show why it has questionable merit, they also rank Niagara Falls as the fifth growing real estate market in the entire country. Last I knew of the falls, it was no place a "hot" real estate area.
It's nice to hear these things and by no means is this area the worst to live in but "5th" makes most logical people question the data.
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joe
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i have some property on the east side,any takers?one question,where are they going to find jobs
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Only because
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Probably the only reason it is showing as the fastest real estate market is because the statistics take into account number of houses being sold and bought...not by whom they are being sold and bought by. There are many (which I have come across) people in this area moving within the county from one area to another. So truly these statistics do not show what is really happening; and it does not truly mean at all that it is an economically growing area.
Just because home prices have gone up, does not mean it is good growth. Actually, it seems as if the rise in housing prices for Buffalo/Niagra region only shows that the cost of living in these areas are rising at a ridiculous rate...naturally and not surprisingly to accompany the taxes in the area.
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Falls Resident
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I love my house. I don't care about equity and the markets and all that stuff. Other people can look at it as an investment or whatever. Does everybody live in a just a house. I live in a HOME.
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Only because
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born again atheist wrote: once you hit rock bottom, the only place to go is up! Actually, everybody will just keep digging even when there is nothing to dig for.
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E Amherst
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home prices have gone up 30%?
so a $91,000 home today could be had for 70k 5 years ago?
i find that hard to believe.
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Sick of New York State
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..and our property taxes are 62% higher than the national average...no mention of that incentive to buy property here ?!
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Dan
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People are like insects they move from place to place sucking up recourses and destroying the Planet! There is one thing to be learned from History and it is that we have learned nothing.
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For real
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Home prices have gone up because the cities keep reassessing the homes higher so our taxes go up as well. I've owned my home for 7 years and they have reassessed my house 4 times which inturn raised my taxes 4 times.
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move on
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thats because you can buy a house in buffalo/niagara falls for a couple of thousand
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frank
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87 in tampa today
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twabster
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85 in Birmingham today
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Judge it!
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