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Bucking the Trend

July 4, 2008

Do you know?   Do you think you know?   Western New York is “Bucking the Trend” in Real Estate.   And why shouldn’t it?   For years the Greater Buffalo Region has been the last place many wanted to come.   But that is changing and Buffalo is quickly becoming a community that people are taking notice.   There are a million reasons why you might want to call Buffalo home.   There are the four seasons (ok, so I am not entirely thrilled with snow and cold, but I have to admit that 77 degrees on the Fourth of July is excellent!), there are the sports teams, the cultural arts, the people of Western New York and the great food here.   Not only that the cost of living is a lot less than other metropolotain cities and many companies are taking notice of that and moving to Buffalo rather than leaving.   

Here are just a few things that people are saying about our Real Estate Market:

“Even though we are seeing large sales declines in many parts of the country… locally,, the sales data are actually vibrant and picking up”  Housing Ecomonist Lawrence Yun – Buffalo News February 14, 2008

“Buffalo truly is an anomaly when it comes to the nation.  Other places are being absolutely hammered.”  Paul Atkins, President of Consumer Credit Counseling Services of Buffalo – Buffalo News February 11, 2008

“Western New York’s foreclosure rate is far less than the National and State rates due to a combination of strict underwriting policies and very limited sub-prime lending.”  Daniel A. Dintino, Senior Vice President Residential Lending First Niagara Bank

“The Buffalo Niagara Association of Realtors reported a record-breaking number of closed sales in 2007” … In Erie county, the median selling price … was $114,000.  This is an increase of more than 15% for the same month last year.”  Buffalo News home Finder February 9, 2008

“The subprime crisis – aka the ‘credit crunch’ has become an unhappy fact of life in several states including California…. and Nevada.  It’s even having an impact in the New York City area.  But WNY has generally avoided its wrath, according to a Business First Analysis.”  Business First February 1-7, 2008

“Meanwhile, a National Association of Realtors Survey said Buffalo Niagara had one of the country’s best improvemetns in sale price during the last three months of 2007.  Buffalo Niagara’s median sale price showed steady gains in the last three months of 2007, rising 9.1% from the same period in 2006.  This was the 13th highest growth rate among 150 metro areas surveyed.”  National Association of Realtors – Buffalo News Febuary 19,2008.

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With all that why wouldn’t you explore the possibility of living in a community that has:

  • a diverse cultural opportunities
  • too many outdoor recreational opportunities to mention
  • professional and college sports to enjoy
  • There are the festivals and food in Western New York.   Everyone that comes to Buffalo has a long list of restaurants that they want to experience.  

Then there are the people of Buffalo.   I can tell you that many people are suprised by the people and how warm and friendly they are.   If you are in Buffalo you are family.   What a great feeling…   We are a city of good neighbors, people watch out for each other, they care.   Not every community can say that.   Call me today (716) 743-5297 to find out how I can assist you in making the move to the Buffalo Region!

 

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