Home Sales by UB and Buff State August 2008

Buffalo State College Area Market Report August 2008

Buffalo State is another popular area that investors purchase Investment property in.   With about 9,000 undergraduates and 2,000 graduate students Buffalo State has a pool of willing tenants. 

Multi Family Homes for Sale

• There are currently 4 pending and 50 active listings with an average list price of $50,234
• Year to date there has been 50 closed sales spending an average of 50 days on the market and an average sold price of $43,214

Buffalo State Single Family Homes for Sale

• There are no pending and 30 active listings in this area of Buffalo with an average list price of $40,193 rangiing from $5,000 to $99,900.
• Year to date there has been a total of 20 closed sales with an average sold price of $38,618 and spending an average of 67 days on the market

 UB Area Real Estate Market Report – August 2008

Popular Investment property is around the University of Buffalo Main Street Campus.  The market report is as follows:

Multi Family Homes For Sale 

• Currently there are 7 pending and 40 active listings with an average list price of $71,917 ranging from $29,900 to $339,900
• Year to date there as been a total of 45 closed sales averaging 63 days on the market and having an average sold price of $63,841.

Single Family homes in the UB area Market Report:

• There are currently 9 pending and 68 active single family homes for sale in the UB area with an average list price of $50,338 ranging from $14,900 to $174,900
• Year to date there has been 72 closed sales with ana average sold price of $48,894 and spending an average of 73 days on the market

Interested in finding out the current market value of your single family home, condo or investment property? Then call Colleen Kulikowski, Realtor at (716) 743-5297 to discuss what is happening in today’s Western New York Real Estate Market.   We would be happy to give you a personalized Comparative Market Analysis for your home, just fill out the form below.   View additional WNY Market Area Statistics here.

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.

University of Buffalo Area single-family Sold Homes Year To Date

Year to date there has been a total of 72 Closed sales in the University of Buffalo Area of single-family homes sold. Here is a list of the homes sold in this area of Buffalo.

ML #	Address	List Price	Sale Price
298183	619 LASALLE	14,925	16,000
300252	339 SHIRLEY	15,000	15,100
309677	76 Millicent	15,000	17,200
309348	420 Dartmouth	15,000	14,000
311513	534 Stockbridge	15,845	21,786
301188	574 Minnesota	16,900	14,000
304668	520 Shirley	17,900	17,900
304076	136 POULTNEY	17,900	15,900
311424	399 Highgate	17,900	18,500
306808	545 STOCKBRIDGE	18,000	17,000
301688	155 Shirley	19,500	13,500
301698	542 Lasalle	19,900	12,500
304756	174 Shirley	19,900	12,000
300892	239 Shirley	19,900	18,000
299566	611 LA SALLE	20,000	23,250
295557	90 DARTMOUTH	20,000	19,000
298482	318 Lisbon	24,900	21,000
307442	522 DARTMOUTH	24,900	18,000
313141	578 Lasalle	24,900	31,786
301477	555 Minnesota	25,000	17,500
301198	280 Stockbridge	27,000	22,000
309158	550 SHIRLEY	28,880	28,500
301074	550 SHIRLEY	28,880	28,500
297509	456 Berkshire	29,900	25,000
312874	456 LISBON AVE	30,000	23,000
297626	22 Rounds	33,900	23,000
301786	294 HIGHGATE	34,500	35,500
292956	369 Dartmouth	34,900	34,000
297926	425 Berkshire	34,900	18,000
286444	101 Westminster	36,000	32,500
317137	421 HIGHGATE	36,900	30,000
303166	407 Hewitt Ave.	37,900	37,700
308855	552 Highgate	38,500	37,500
294310	117 Dunlop	39,000	32,100
297093	16 Rounds St.	39,900	35,000
305121	640 LASALLE	39,900	28,000
300054	512 Shirley	49,900	47,000
257580	168 Berkshire	49,900	50,000
297874	477 Highgate	49,900	40,000
305869	19 DARTMOUTH	52,900	53,045
298051	424 Hewitt	53,900	50,000
309761	216 MERRIMAC	54,900	52,900
295900	312 Stockbridge	55,900	50,000
306283	255 Merrimac	56,900	58,400
292608	216 Stockbridge	57,900	57,750
295803	732 LASALLE	58,000	60,600
296524	15 W NORTHRUP PL.	58,900	55,500
300206	708 LASALLE	59,900	59,500
304512	127 MERRIMAC ST	59,900	56,000
299377	398 DARTMOUTH	62,900	59,860
307764	547 SHIRLEY	64,900	65,000
305310	224 Heath	64,900	54,060
300798	461 Winspear	65,000	66,780
312734	420 LISBON	65,000	64,660
294652	124 TYLER	67,777	59,000
312159	54 NORTHRUP PL	69,900	50,000
299937	66 W Northrup	70,000	55,000
315898	67 Tyler	72,900	73,900
301096	236 Heath	77,500	74,000
304034	238 Heath	77,900	74,500
309697	59 Heath	84,000	80,000
311415	116 W WINSPEAR	84,500	80,000
306465	120 Niagara Falls	84,900	81,000
297119	135 Englewood	87,000	77,000
282138	374 MINNESOTA	87,000	85,000
308905	110 W WINSPEAR AVE.	89,900	94,900
291799	133 W NORTHRUP PL	94,900	89,000
295227	119 NIAGARA FALLS BLVD	122,517	121,000
310287	96 Niagara Falls Blvd	128,900	127,000
301783	180 University Avenue	144,900	141,500
310594	22 Radcliffe	164,900	160,000
304900	58 University	174,000	172,300

 

Interested in purchasing a home in this area of Buffalo?   Thinking of selling your multi-family home in this area of Buffalo?   Call me today at (716) 743-5297 to start!

Home Buyer Seminar September 6, 2008

The Housing and Economic Recovery Act of 2008 offers significant benefits to both current homeowners and most especially to first time buyers. Under the legislation first time buyers are considered anyone that has not owned a primary residence in the last 3 years.

Hunt ERA together with our wholly owned subsidiary, Hunt Mortgage, invites you to attend a FREE home buyer’s seminar on Saturday, September 6, 2008 at 10 am. The seminar will be held in our office at 5400 Broadway Street (corner of Central Ave) in the Village of Lancaster. You will learn the details of how to receive all the benefits of the new Housing and Economic Recovery Act of 2008. Our Mortgage Consultants want to help get you into your new home and will be on hand to explain what these new regulations can mean for you and your future purchase.

WNY Luxury Home Sales

And they say Buffalo is a dying city….

Recently, Buffalo NY was named a dying city by Forbes Magazine.   Buffalo NY is not an area known for million dollar sales for homes.   In fact so far this year the most expensive home sold in Buffalo or Niagara Counties sold for $995,000 in Lewiston.  So when there is one that does sell for over a million dollars it becomes news, have two more than triple the highest sale you have a major news event!

Read Also:  Buffalo Pundit’s Lunchtime Chat

The Buffalo News reported this week two homes in Hamburg that will break the sales record of highest sold homes in Western New York.  Deals have been signed on two homes located at 6553 Boston State Road and 6523 Boston State Road in the Town of Hamburg for $3.3 million, and $3 million, respectively. The sales are scheduled to be finalized within the next month. 

Peter Hunt said of these luxury WNY home sales:

Peter F. Hunt, president and chief executive of Amherst based Hunt Commercial Real Estate, said the big-ticket deal has the potential to put a spotlight on the Buffalo area’s stock of high-end homes.

“This will help demonstrate the great values that exist here in the luxury real estate market. You can get far more here for the buck in terms of quality than just about anywhere else in the country,” Hunt said.

The real estate executive said out-of-town buyers are frequently “floored” when they see the level of home they can afford in Buffalo, compared with most large urban areas.

“In Manhattan, $3 million buys you maybe 1,500 square feet. In the Buffalo area, it will buy the estate of your dreams,” Hunt said.

Interested in purchasing a WNY home?  Please call me at (716) 743-5297. 

Related Articles:

• August 2008 WNY Market Report by Price Range
• Million Dollar WNY Homes For Sale Market Report – May 2008
• Million dollar homes for sale in WNY – April 2008

Recent Real Estate Articles of interest

 

Real Estate is a tough business.  It is about connecting with the consumer right at the moment that they need that connection.  Here are some recent articles I have written that you may find interesting…

Financial Center

I have lost my normal writing pattern with Real Estate taking a considerable amount of extra time, and some wonderful distractions with summer and community activities. To get back into the groove, I tour the internet and other writers for ideas and inspiration. Sometimes I write posts on topics that I read, and sometimes it is nice to just share what I have read.

Read More:  Five articles that will interest WNY Investors»

Sell my WNY Home

Selling your home for the most amount of money and in the least amount of time is your goal when your Buffalo home is for sale. There are many factors that can affect the sale of your Buffalo home for sale including:

The listing price of your home

The condition of your home for sale

Photographs available

Read More:  Are you using the right words to attract Real Estate Buyers?»

Buy a WNY Home

You may be relocating to the area from another part of the country, others may be investors looking for just the right investment property and there are buyers just entering the Real Estate market by purchasing their first home or those buyers moving up. If any of this describes you, there is information here for you. You have questions regarding what is happening in the Buffalo Real Estate Market and may need guidance.

Read More:  Western New York Favorite Buyer Articles»

Why Call WNY Home

This Saturday, August 9th there is a really cool Scavenger Hunt in the city of Buffalo. Think you know Buffalo? Think that you could win? Then this is something you have to check out! Wear your walking shoes, you can use public transportation and you can do this on the cheap! How cool is that? Spending the day in Buffalo competing in a scavenger hunt and then having a party afterwards!

Read More:  Buffalo Scanvenger Hunt»

Home Staging

As a homeowner you may not be thinking of selling your home at this time. But you might in the future. And at that time it might not be so pretty or it could even be more spectacular than it is now. Try and take photographs of the exterior of your home in the variety of seasons so when the time does come you have a great photograph for your Realtor to use.

Read More:  Photography of your home»

For Sale By Owner

This is a new listing perhaps they will be doing more in the coming weeks. I didn’t see it in today’s newspaper and cannot find anything on this Wheatfield home for sale on the Internet. So it appears that they are depending on the sign out front of their home as their sole source of advertising of this home.

Read More:  FSBO Case Study: 2444 River Road Niagara Falls NY 14304»

Buy a WNY Home

You may be relocating to the area from another part of the country, others may be investors looking for just the right investment property and there are buyers just entering the Real Estate market by purchasing their first home or those buyers moving up. If any of this describes you, there is information here for you. You have questions regarding what is happening in the Buffalo Real Estate Market and may need guidance.

Read More:  Western New York Favorite Buyer Articles»

Landlord & Tenant

Unfortunately, not all tenants will be good tenants in WNY. Finding good tenants is always an issue for Western New York Landlords. All too often WNY landlords can be too eager to fill their homes. It is important that you do a little investigation on your potential tenants. Whether you are managing your property yourself, or using a property manager in New York, careful screening will save you a lot of money and stress.

Read More:  Tenant Screening in Western New York»

Real Estate Investors

As of today, the sub prime market has just about dried up. In the conventional world, Fannie Mae and Freddie Mac have increased the down payment requirements to a minimum of 20%. Due to the foreclosure issues that have hit the real-estate market, the mortgage insurance companies have taken a major financial hit. Due to their financial losses they are unwilling to provide insurances coverage and expose themselves to additional risk.

Read More:  Credit Changes on Investment Properties»