Any first time home buyers hitting a bump in the road on their search for a home in Buffalo?

Aplaceofmyown
Home Buyer
14216

I've been looking for sometime. I'm not too pickey, but I do have a budget. Is anyone else hitting a bump in the market? I want to buy in Buffalo, but the inventory is very limited right now for doubles in my price range. I'm worried that time is running out to take advantage of the tax credit. Are there any creative suggestions that people have for me? I'm flexible with the size of the home, but not the location. What should I do?

Answers (9)
Tina
Home Buyer
Tonawanda, NY

I spent seven months looking for a home before I found the perfect one on http://www.buffaloniagarahomes.com. I had to change my location from the Town of Tonawanda to the Town of Cheektowaga in order to find the right type of house in my price range.

Are you looking for a vertical or a horizontal duplex? This answer will drastically affect which neighborhood you'll be looking at in Buffalo. I would also suggest that you look into foreclosed doubles owned by the City of Buffalo to find one at an affordable price.

You really need a Real Estate Agent to help you in your search. It doesn't cost you anything because the seller pays for this, so it's to your advantage to get a Buyer's agent who is a real estate agent.

Thu Jun 25 2009, 17:27
Sandy Pond
Agent
Amherst, NY

I sold my last home (3 yrs ago) because an agent was walking down my street and asked if I would sell to her client who wanted my neighborhood! Of course, he had a good offer, no seller's concessions, and didn't try to beat me up on the home inspection. But it just happened that the timing was good for me, so I moved!
As an agent, I would send letters to owners in the area you want to buy in. Probably your agent would do that. I personally haven't gotten into Craig's List yet, but you could advertise there.
I assume you are still working with an agent, so maybe there is a communication problem . . . you should brain storm with the agent. If places have been available and you didn't get them there must be some reason.

Wed Jun 24 2009, 09:17
Aplaceofmyown
Home Buyer
14216

Each nite, I get online checking various local sites to see if there is anything new. I get automated listings from my agent. I know that this type of property exists because I have seen several of them in my price range that met my criteria and then some. Lately, I find myself compromising way too much. I know I only have 3 months left, but I want to be a home that suits me and meets my needs. It's been a long search. I'm asking for other creative ways that I can do more to enhance the pool of choices. Yes, I have asked the realtor to check with others in the area, perhaps do advertising, etc. Is this all bad or am I just asking for something that other realtors already do for their clients?

Wed Jun 24 2009, 07:38
Sandy Pond
Agent
Amherst, NY

You said you are working with an agent and you are doing "a lot of the work". This concerns me, and I can think of several reasons why this situation might have occured.
Are you looking for something that doesn't exist? Such as a double in an area where there aren't very many. Or in a very limited area.
Are you changing your mind about what you want?
Are you sending your agent lists of places you want to see without looking at the details?
Are you realistic in what you can expect to get for your price limit? Almost everything is going to need some work!
So far as the tax credit, on a double it is going to be up to $4,000. Finding what you want and getting it for the right price is more economical in the long run.
Sandy Pond

Wed Jun 24 2009, 05:16
Andrew Petrinec
Home Buyer
14201

I am in the process of buying a double in the Parkside neighborhood. I looked for about 4 months and looked at about 20 houses. I was serious about 5 of them and had them sold either the day we looked at them or shortly after.

Keep searching. Set up your trulia account to give you updates everytime a house goes on the market with your criteria. This is what I did. The house I am buying was on the market for 2 days before I made the bid on the house. It is a crazy market out there especially in the price range of first time home buyers.

Tue Jun 23 2009, 10:01
Lee Ferenc
Agent
Williamsville, NY

Doubles for that manner retain their value are tend to be in demand. Considering the amount of investors that purchase in Buffalo, you have some serious competition. As for creative ways to search for a double in your specific area you could try a few things:
1. Check http://www.zillow.com and homeowner's will list their homes with a make me move price, an price that they are willing to put their non-listed home on the market.

2. Try traditional or non-traditional methods of media promotions to post what you are seeking for housing.

Homeowners that are on the fence, might be swayed to sell.

Good luck with the home search.

Web Reference: http://www.leeferenc.net
Mon Jun 22 2009, 20:49
Joe Sorrentino
Agent
Buffalo, NY

Your problem is not just Your Problem! There have been many people worried about the economy, unsure of their job or out of work and unfortunately, decided not to move. Some refinanced to actually lower their current monthly payment, others may have tried to get pre-approved for a new loan to buy or refinance and unfortunately don't qualify under the new stricter guidlines. Needless to say, they are not moving and the whole cycle of buying and selling is affected. Keep looking.

Mon Jun 22 2009, 16:18
Aplaceofmyown
Home Buyer
14216

I'm working with someone. I'm actually on the 2nd one right now. I've been doing a lot of work. Is there really no other way to be creative in getting more people to list their homes for sale? Or am I just missing something here....

I've compromised on a few things, but won't compromise anymore on location.

Mon Jun 22 2009, 15:28
Michael Wichrow...
Agent
Hamburg, NY
FIRST ANSWER

You say that you've been looking for some time now. Are you working with an agent? If so, your agent should be offering you suggestions on where you can find houses in your price range. There's always a compromise when buying an existing house, you just have to think about what is most important to you vs. least important, what you can and can't do without.

If you're not working with an agent it's time you do. Seeing as you have less than 3 months to find a house and get into a contract a REALTOR is your best resource and source of information.

Please visit my website and feel free to contact me if I can help you.

Mon Jun 22 2009, 15:19

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