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Person, Real Estate Pro in 94546

Buffalo, NY House prices reduced? Is it a good time to buy a house today?

Asked by Person, 94546 Mon Mar 9, 2009

I am thinking of buying a house in Buffalo. By considering the prices of the recent years,because of the recession, I wonder if prices are reduced in Buffalo, NY. I will be appreciated if you help me find the statistics of the last couple of years. What I am trying to reach is ""Is it a good time to buy a house today?""

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Answers

7
"It is always a good time to buy. "

Tony Camero
Real Estate Pro
Houston, TX


Wow - unreal - is it still 2005? How can anyone really say that? Was it a good time to buy in 2006 or 2007? Prices dropped a lot since then. It can not ALWAYS be a good time to buy. Sorry this guy's broker told him that.
0 votes Thank Flag Link Sun Mar 22, 2009
It is always a good time to buy. I dont know the Buffalo market...but if it is anything like Houston,TX there are many deals these days with mounting foreclosures. Although it is sometimes better to find a motivated seller who has had their home on the market for a long period of time, they have had a life altering event death divorct etc....all sorts of reasons to be motivated to sell. And in those situations you can negotiate a great deal more often than not
0 votes Thank Flag Link Sun Mar 22, 2009
Hey Fisbo - it's GREAT to hear that someone all the way in Milwaukee feels that they have expertise that applies to the local market in Buffalo, NY. Care to elaborate?

Person - Yes it's a good time to buy. I you qualify for the $8000 incentive (must buy by Nov 30th to use), this year is a very good time.

I have no idea why you want to buy in Buffalo, but that's your business - I certainly like the Chop House - that is one great steak. Are you moving up there or is this like a 2nd house, near family etc? I see that like me you are in NJ.
0 votes Thank Flag Link Sun Mar 22, 2009
Not a good time to buy. Prices will go down more. Most estimates suggest a 30% decline in Buffalo. Look at renting and take you time to try to find a greta deal down the road.
0 votes Thank Flag Link Sun Mar 22, 2009
What type of home and a more narrowed location and time frame would help answer this question with more accurate statistics. Too much ground to cover in Buffalo, yet it has been constistently ranked as one the top areas to invest in the nation by both Money magazine and Forbes.
0 votes Thank Flag Link Sun Mar 22, 2009
No. Prices will go down. Wait another and get 20% off.
0 votes Thank Flag Link Mon Mar 9, 2009
yes no better time, and there is now a stimulas tax credit for eligible first time buyers of $8000, if you are paying rent of $600 per month, that is literally equal to more then a years rent being given to you to buy a home, as long as you are occupying the property, have not owned a home in prior three years and have income of less the 75k a year,
Web Reference: http://www.c21jerry.com
0 votes Thank Flag Link Mon Mar 9, 2009
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