Susan,
The cost of a home in WNY can be summed up with the word "affordable." The cost of a home as a multiple of median income is low here as compared to the rest of the country. The percentage of income used for mortgage payments in also low. This means that in WNY people spend less of their disposable income on housing. In addition, rents generally cover mortgage, insurance, and taxes. The amount of activity from investors looking to flip properties is less here. So we have a true market based upon people buying a home simply for the purpose of living in it, without the expectations of wild appreciation. All of this helps to keep our prices from fluctuating widely. So, you should be able to obtain a nicer home in WNY while spending less of your monthly income on housing. This, hopefully, will afford you the opportunity to spend a little more money enjoying the many benefits of living in this area. I moved here 23 years ago from the NYC metro area and I can tell you how nice it is to live here. Less of my income is spent on housing and less of my time is spent in traffic. That combination benefits my family greatly.

Tue May 27 2008, 19:41

we have been "blessed" according the majority of the country. our prices did not skyrocket so they did not plummet. real estate is local and still a great investment. in the buying process, the buyer is protected by the additional layer of the bank appraisal. the bank will not lend monies to the buyer if the loan to value is not in line. the conditions are community to community and based on the location and condition of the property - as it has always been.

Tue May 27 2008, 17:55

Stable. Depending on the price range you are talking about, and what part of the Buffalo area, there are some quick sales and close to asking price situations going on right now.

Fri May 9 2008, 15:20

Hi Susan,

I'd be happy to answer your question. Can you expand on it a bit?

Fri May 9 2008, 07:39