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Old 01-13-2009, 08:33 AM
 
Location: Tonawanda
259 posts, read 545,683 times
Reputation: 65

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4th. Not too bad for a "dying city".

America's 25 Strongest Housing Markets - Forbes.com
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Old 01-13-2009, 09:33 AM
 
Location: WNY
1,049 posts, read 2,517,497 times
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I read that somewhere else, thankfully we never saw that huge increase many other parts of the country has seen in the past years. Sadly, bad realtors and scummy mortgage brokers gave way too much money to some people. I feel very bad for the people in some states whose balance on their mortgage is much much higher than the appraised value of their home. They can't sell it because no one will give a buyer a mortgage to cover what is even owed on the home, due to the appraisal being so low...............................

That said, I think Buffalo's home values will continue to hold value, thankfully. Let's hope everyone keeps their jobs...........
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Old 01-13-2009, 10:29 AM
 
Location: Pompey, NY
404 posts, read 875,151 times
Reputation: 293
Syracuse is number 2! Congrats to Buffalo, Rochester is on the list also, hurray for Upstate! Now if we could only get a handle on the dysfunctional state government, we'd be sitting pretty.
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Old 01-13-2009, 12:45 PM
JH6
 
714 posts, read 1,457,816 times
Reputation: 317
They should change that list to "areas that never had a housing boom".

I mean seriously, the prices never really went anywhere, and are still at the same level.

Hopefully it attracts some people here, but those of us who own property here know the full story.
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Old 01-13-2009, 01:22 PM
 
Location: WNY
1,049 posts, read 2,517,497 times
Reputation: 244
Quote:
Originally Posted by JustinH View Post
They should change that list to "areas that never had a housing boom".

I mean seriously, the prices never really went anywhere, and are still at the same level.

Hopefully it attracts some people here, but those of us who own property here know the full story.
I totally disagree with you - if you purchased for a reasonable price, you should have seen your property value increase - by a hundred thousand no, but I have yet to represent someone who had to sell for less than they paid.
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Old 01-13-2009, 03:39 PM
 
Location: BUFFALO, NY
1,576 posts, read 3,582,520 times
Reputation: 298
Quote:
Originally Posted by CAugust View Post
I totally disagree with you - if you purchased for a reasonable price, you should have seen your property value increase - by a hundred thousand no, but I have yet to represent someone who had to sell for less than they paid.
Thank you, CAugust, you are a very reliable real estate agent, I can tell. (But everyone should know about that).
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Old 01-13-2009, 10:03 PM
 
268 posts, read 722,970 times
Reputation: 194
I lived in McAllen, TX before moving to Buffalo, and I think there's one little detail missed in reporting McAllen, TX as the #1 city. The housing market is strong because there is a strong influx of people and a rising number of people who want to own a NEW home. If you own a home and want to sell it, that's a different story. Most houses are not older than 10-20 years old, so no one will buy an older house when they can have a new one built for less.

Since most houses in McAllen tend to be built from a limited set of floor plans or are prefabs - there is a definite cookie cutter feel to the houses in McAllen. I've gotten lost inside gated subdivisions where houses look so much alike that I had to stop and read street signs and house numbers to find friends that I had planned to visit.

On the other hand, you could get a home in Buffalo that may need some fixing because of its age, but you will also get a lot of little details that make the house unique and full of character - for about the same price as those McAllen houses.

The housing market in McAllen may be stronge than that of Buffalo's, but Buffalo houses beat McAllen.
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Old 01-13-2009, 10:36 PM
 
Location: BUFFALO, NY
1,576 posts, read 3,582,520 times
Reputation: 298
^Interesting stats. Thanks for sharing that extra info!
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Old 01-13-2009, 11:07 PM
 
5,265 posts, read 10,402,831 times
Reputation: 4016
Quote:
Originally Posted by coldwynn View Post
I lived in McAllen, TX before moving to Buffalo, and I think there's one little detail missed in reporting McAllen, TX as the #1 city. The housing market is strong because there is a strong influx of people and a rising number of people who want to own a NEW home. If you own a home and want to sell it, that's a different story. Most houses are not older than 10-20 years old, so no one will buy an older house when they can have a new one built for less.

Since most houses in McAllen tend to be built from a limited set of floor plans or are prefabs - there is a definite cookie cutter feel to the houses in McAllen. I've gotten lost inside gated subdivisions where houses look so much alike that I had to stop and read street signs and house numbers to find friends that I had planned to visit.

On the other hand, you could get a home in Buffalo that may need some fixing because of its age, but you will also get a lot of little details that make the house unique and full of character - for about the same price as those McAllen houses.

The housing market in McAllen may be stronge than that of Buffalo's, but Buffalo houses beat McAllen.
This is very much the same case in the Raleigh and Charlotte areas. Not all of the houses are cookie cutter; but most people who move there want a new house...atleast when they first move; so selling a house that is more than 10 years old can be quite a challenge.
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Old 01-16-2009, 11:06 PM
 
3,956 posts, read 5,603,621 times
Reputation: 2255
We live in the same house we bought it in the early 1970s... it has, in 36 years, a selling price 5 to 7 times what we paid. We have no plans to move. Just like most of our neighbors, we built/bought here, raised our families here and paid off the houses and retired here. Stability is what makes an area safe... people who stay in one place create stability. You don't get stability buying and expecting a $10-20K increase in a year or two.
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