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Here are a few things to consider. If you are moving from another area where your house has appreciated substantially, you will be surprised at the low prices for Buffalo real estate. They are low for a number of factors, the economy lagging the nation, high property taxes, approx 3% give or take, and the less than stellar job prospects. I purchased a home in 2006 in a choice neighborhood for 180k, put at least 50k into it and finally sold it for 240k. When you factor in real estate commissions I lost money. Had I sold it 2 or 3 years earlier I would have lost much more. Even with the improving local economy you can expect to break even at best on a house here. If you plan to stay here forever its fine but if you plan on moving, keep in mind real estate prices in much of the rest of the country are appreciating and you may be left behind.
The biggest problem with WNY is its attached to New York City, which dominates the state government. Whats good for NYC is not necessarily good for WNY. The last Governor from WNY was Grover Cleveland in 1883-1885. WNY is at the mercy of NYC and has been treated very well by Governor Cuomo but no one knows how long the stimulus (Billions for Buffalo) will last.
Here are a few things to consider. If you are moving from another area where your house has appreciated substantially, you will be surprised at the low prices for Buffalo real estate. They are low for a number of factors, the economy lagging the nation, high property taxes, approx 3% give or take, and the less than stellar job prospects. I purchased a home in 2006 in a choice neighborhood for 180k, put at least 50k into it and finally sold it for 240k. When you factor in real estate commissions I lost money. Had I sold it 2 or 3 years earlier I would have lost much more. Even with the improving local economy you can expect to break even at best on a house here. If you plan to stay here forever its fine but if you plan on moving, keep in mind real estate prices in much of the rest of the country are appreciating and you may be left behind.
The biggest problem with WNY is its attached to New York City, which dominates the state government. Whats good for NYC is not necessarily good for WNY. The last Governor from WNY was Grover Cleveland in 1883-1885. WNY is at the mercy of NYC and has been treated very well by Governor Cuomo but no one knows how long the stimulus (Billions for Buffalo) will last.
True. I like it here cause family and friends and like green space as opposed to dry brown areas and rednecks.
Here are a few things to consider. If you are moving from another area where your house has appreciated substantially, you will be surprised at the low prices for Buffalo real estate. They are low for a number of factors, the economy lagging the nation, high property taxes, approx 3% give or take, and the less than stellar job prospects. I purchased a home in 2006 in a choice neighborhood for 180k, put at least 50k into it and finally sold it for 240k. When you factor in real estate commissions I lost money. Had I sold it 2 or 3 years earlier I would have lost much more. Even with the improving local economy you can expect to break even at best on a house here. If you plan to stay here forever its fine but if you plan on moving, keep in mind real estate prices in much of the rest of the country are appreciating and you may be left behind.
The biggest problem with WNY is its attached to New York City, which dominates the state government. Whats good for NYC is not necessarily good for WNY. The last Governor from WNY was Grover Cleveland in 1883-1885. WNY is at the mercy of NYC and has been treated very well by Governor Cuomo but no one knows how long the stimulus (Billions for Buffalo) will last.
Local economy improving ? The monthly job reports for the last 6 or 7 months show WNY is losing thousands of job every month. Buffalo's tallest building, HSBC Tower has been dark and all empty for over 8 years and went bankrupt, surely something must be wrong ? O wait the property taxes are insane and yet they still keep raising them every year !! How much does it cost to build a new house in Buffalo $350,000+, You can build a new new house in TX, SC , NC etc.. for around $200,000, Just because most of the property is vacant, bad shape and worthless in Buffalo or you can buy a house for $1 in most of Buffalo, That's what they mean about houses are cheap and affordable in Buffalo. What's even more funny is Buffalo offered the HSBC tower & 1/2 of Downtown to Amazon for their HQ2 for free, but wait their already worthless, Even you wanted to build something in most of Buffalo including downtown, no bank will even give you loan,
Local economy improving ? The monthly job reports for the last 6 or 7 months show WNY is losing thousands of job every month. Buffalo's tallest building, HSBC Tower has been dark and all empty for over 8 years and went bankrupt, surely something must be wrong ? O wait the property taxes are insane and yet they still keep raising them every year !! How much does it cost to build a new house in Buffalo $350,000+, You can build a new new house in TX, SC , NC etc.. for around $200,000
No, not "thousands of jobs a month" - Per the monthly employment report 8 out of the last 12 months Buffalo has shown the highest number of employed at any time since at least 1990, and although Buffalo showed a decrease in jobs since last December, it was still the 2nd highest employed since 1990 (after last year). There are 27,000 more jobs today than in 2009, and almost 40,000 more than in 1992.
HSBC Tower (now Seneca Tower) was left by HSBC - which just moved next door, by the way, and although the tower was foreclosed on it was purchased and is now in the process of being converted to retail and apartments - and EXPANDED. Construction on the first 2 phases may be completed by the early next year.
The City of Buffalo has actually been LOWERING property tax rates for the last 8 years, and assessments have been steady for the last several years even though market prices have increased over 100% in some areas!
A quick glance at the internet shows new homes in Hamburg priced starting at $229,000, and $249,000 in West Seneca.
Of course, there are existing homes on the market priced much lower than new homes.
No, not "thousands of jobs a month" - Per the monthly employment report 8 out of the last 12 months Buffalo has shown the highest number of employed at any time since at least 1990, and although Buffalo showed a decrease in jobs since last December, it was still the 2nd highest employed since 1990 (after last year). There are 27,000 more jobs today than in 2009, and almost 40,000 more than in 1992.
HSBC Tower (now Seneca Tower) was left by HSBC - which just moved next door, by the way, and although the tower was foreclosed on it was purchased and is now in the process of being converted to retail and apartments - and EXPANDED. Construction on the first 2 phases may be completed by the early next year.
The City of Buffalo has actually been LOWERING property tax rates for the last 8 years, and assessments have been steady for the last several years even though market prices have increased over 100% in some areas!
A quick glance at the internet shows new homes in Hamburg priced starting at $229,000, and $249,000 in West Seneca.
Of course, there are existing homes on the market priced much lower than new homes.
No, not "thousands of jobs a month" - Per the monthly employment report 8 out of the last 12 months Buffalo has shown the highest number of employed at any time since at least 1990, and although Buffalo showed a decrease in jobs since last December, it was still the 2nd highest employed since 1990 (after last year). There are 27,000 more jobs today than in 2009, and almost 40,000 more than in 1992.
HSBC Tower (now Seneca Tower) was left by HSBC - which just moved next door, by the way, and although the tower was foreclosed on it was purchased and is now in the process of being converted to retail and apartments - and EXPANDED. Construction on the first 2 phases may be completed by the early next year.
The City of Buffalo has actually been LOWERING property tax rates for the last 8 years, and assessments have been steady for the last several years even though market prices have increased over 100% in some areas!
A quick glance at the internet shows new homes in Hamburg priced starting at $229,000, and $249,000 in West Seneca.
Of course, there are existing homes on the market priced much lower than new homes.
Re: HSBC Tower (now Seneca Tower) was left by HSBC - which just moved next door, by the way, and although the tower was foreclosed on it was purchased and is now in the process of being converted to retail and apartments - and EXPANDED. Construction on the first 2 phases may be completed by the early next year.
Douglas has No plans for 38 Floor Tower section because it needs over Billion dollars of repairs, The HVAC is so old that they can't get parts and a new HVAC system will need to be replaced with helicopters costing 100's millions alone, also can't get parts for the elevators, to old and need to be replaced costing 100 of millions more. and then theirs the floor plates 40% of each floor is elevator core, stairwell core & restroom core, It's cheaper to tear it down and build a 8 to 10 story building with the same amount of space, but theirs no market or no need for any more office space in Buffalo.
The 4 store base remodel for apartments & retail was cancelled by Jamel because the base is in worst shape and would cost millions more then he want's to spend, The City wants working elevators for 4 floor base that going to cost big bucks that Jamel doesn't wants to spend, and their was no interest or market from any Retail in Downtown Buffalo, So Jamel decided to build a seperate addition for 4 or 5 small mini stores. But now the mini stores at Harbor Center couldn't even make it and shut theirs doors, Also Jamel is almost 80 years old
My ignore list is now +1, although I suspect that at least 2 are the same person...
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