Possible Relocation to Binghamton - Last Minute Advice, Please! (New York: sales, real estate)

[pphillipp]

Hi all.

My partner and I may be making a last-minute trip up to Binghamton tomorrow, looking to buy property, and would like some advice.

We're leaving NYC (good riddance) and hoping to change careers as well - part of which would be buying and renting or rehabbing houses. We've both lived in upstate NY before, like it very much, and are encouraged about the housing market in Binghamton.

Question: if we are looking for properties that are in decent, relatively safe areas, but don't want to spend an arm and a leg (becuase we only have half an arm), what are some suggestions? In general, because we're both very handy, our best scenario would be to find places in need of some TLC that we could rehab ourselves.

Thanks in advance.

[ckhthankgod]

I would maybe try the West side of Binghamton or Johnson City. Keep in mind that Binghamton has one of the most affordable housing markets in the country and is one of the safest areas in the country. So, you might find that some other parts of Binghamton are good as well.

I would have said Endicott too, but there have been issues with chemicals that came from IBM in the past:Residents Say IBM Made Them Sick , http://www.syracuse.com/specialrepor...s_polluti.html

I think there are only parts of Endicott like this. So, you might be able to check out the village, for the most part.

[ckhthankgod]

Here's some more information:City Of Binghamton, New York

Binghamton CVB: Greater Binghamton Convention and Visitors Bureau

Binghamton Exception To Nation's Housing Slump | WBNG-TV Binghamton, NY | Local Top Stories

Binghamton: Hot Housing Market | WBNG-TV Binghamton, NY | Local Top Stories

News 10 Now | 24 Hour Local News | TOP STORIES | Binghamton housing market second best in nation

Welcome to Greater Binghamton - Home of Innovation

Broome County, NY

http://www.johnsoncityny.org/

Village of Endicott New York - Home Page

I hope this helps.....

[Hartwick]

Hi...you guys are either terribly brave, wealthy, misinformed and/or just youthfully optimistic...sorry about that, I'll hope for youthful optimism.

Anyway, I don't know what you've heard, or read, about the state of home sales in Binghamton, but, it's not even remotely healthy or good. Homes, no matter what price range, just plain are not selling. Of course real estate people will tell you everything is just rosy and that homes are selling...the usual real estate BS, that Binghamton has not been hurt like the rest of the market...which is partially true. Homes that do sell are in the fixer-up price range, meaning $75-80+K

With that said, I'd suggest your contacting Randy Templeman, who is a real estate agent well-versed in HUD homes, if that is what you are looking for. Call the Broome County Board of Realtors at 729-6285 and they can give you his number.

One area to consider would be multi-family units that can be used for Binghamton University and Broome Community College students, who make up a large percentage of renters. Single family homes can also be used for same but you need to check for zoning, etc. Many of these are in Binghamton's West Side as well as in Johnson City.

Have you considered other college towns such as Ithaca, Cortland, Oneonta, Elmira?

Good luck to you. It's great that you are coming into this community to help make it better.

[pphillipp]

Thanks for responding - we appreciate the info.

I'd like to think we're a combination of realistic and optimistic; I'm hoping we're not naive. Our goal isn't to make obscene amounts of money, but rather to find a nice place to live, where real estate is affordable, and crime is relatively low. I was born and raised in upstate NY, so trust me - I have a general sense of the flavor of NY State, warts and all. And still, there's much I love about it.

Ithaca would, of course, be sweet, but it's just way too expensive for us. We're looking at all the very cheap places - Bingamton, Rochester, Syracuse, and Buffalo. We totally understand that housing prices are not going to shoot through the roof in the next two or three years - if ever - but we're just looking to a) make some rental income, and b) hopefully sell at a modest profit some time down the line.

Anyway, thanks again for the info. If there's anything we should know about Bingo in general, we're all ears.

[HomerBrink]

Philiipp- some people have purchased buildings in downtown Binghamton to create 2 or 3 apartments.
I don't think they are that expensive and the potential is there. Also as previously mentioned the West Side of Binghamton is a good area. There are many fine homes there as well as diamonds in the rough so to speak. Often people who move to the area mention the difficulty of finding decent apartment rentals in the city. In other cities large old houses are often subdivided into really fine apartments. That would be something else to consider. Good luck.

[Tioga]

From talking to some local realtors..there is a small, but steady tin the Owego area for up-to-date, high end apartments. New hires at Lockeed Martin want nice apartments w/as many amenities as possible. As an example, thee is an old school in the village..formerly pegged as beyond hope for new use. A developer turned it into luxury apts. I think it has it's own private gym. There's more than enough off-street parking. Plus it has "the look" that says "gentrified". I suppose it could be done on a a smaller scale in the village/town. Many new hires end up looking east into the Binghamton area to find...not just any apartment..but one that fits their lifestyle. It's just a thought to consider.

[Tioga]

....steady "tin"?.....how did the words "market in" end up as "tin"?.. "thee"(should be there)......I should proofread these things..lol!

[ckhthankgod]

Originally Posted by Tioga

From talking to some local realtors..there is a small, but steady tin the Owego area for up-to-date, high end apartments. New hires at Lockeed Martin want nice apartments w/as many amenities as possible. As an example, thee is an old school in the village..formerly pegged as beyond hope for new use. A developer turned it into luxury apts. I think it has it's own private gym. There's more than enough off-street parking. Plus it has "the look" that says "gentrified". I suppose it could be done on a a smaller scale in the village/town. Many new hires end up looking east into the Binghamton area to find...not just any apartment..but one that fits their lifestyle. It's just a thought to consider.

I can see that with Owego and maybe Endicott, because they aren't that far from each other and the set up of the both villages. I think both are nice villages that have the potential for great investment in terms of real estate. Lockheed Martin has been great for the area too.

[pphillipp]

Thanks for the additional input. We wound up not being able to go because of work - but are planning to get there by the end of the month.

And on the way up (or down), we're thinking of looking at Scranton as well. It's an adventure.