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Home Buying in East Amherst : Real Estate Advice

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Activity 12
Sat Jun 27, 2015
Earnest Hemingway answered:
LINK ::>> http://online-boxing-live.blogspot.com/2015/06/enjoy-jessie-vargas-vs-timothy-bradley.html
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Sun Apr 26, 2015
scorescore9 asked:
Sun Apr 19, 2015
Alan May answered:
Yep. A lot of spam questions on Trulia. And interestingly enough, Trulia doesn't seem to care. It's been brought to their attention many, many, many times over the years.
1 vote 1 answer Share Flag
Tue Jan 29, 2013
Joe Sorrentino answered:
We might have something coming up in Amherst NY will be approx. 2,500 sq/ft @ $2,200/mo.
Let me know if that fits your budget.
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Tue Jan 29, 2013
Anna M Brocco answered:
Perhaps your question was was cut off--if lookinmg for a rental consider working with an agent; check local print media for by owner rentals, always verify ownership before exchanging any money; word of mouth, etc. ... more
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Thu Aug 9, 2012
Steve Quintana answered:
The market is giving you feedback on your price and property. Unless you plan to make significant changes to your property the only thing you can control is price.
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Sun Jul 24, 2011
Bill Eckler answered:
Prescott,

I'm not an expert on the Buffalo area real estate market by any means but I do pay attention to the national real estate trends as reported by local and national resources. A report released in March identifying "the strongest real estate markets for 2011 included the Buffalo area as the number two market nationally to keep an eye on.

The report specificall states the Buffalo area has "one of the fastest-raising median list prices and lowest foreclosure rates in the country." It indicates the median sale price has increased by 14.3 %.

All of this information may not mean anything to you but it is something that you should be aware of if considering selling your home. The amount it should be listed for should be arrived at by you and your agent...but don't overlook this important information.

Hope this is helpful.

Bill
... more
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Mon Apr 18, 2011
Joe Sorrentino answered:
Bev:
Bev:
I assume that you are referring to the unit currently for sale in Ransom Oaks for $249,900. First of all, it is a Villa or, an attached patio home with a Homeowner's Association. Houses are not sold by the pound (or sq/ft) like baloney. You can sit there at the computer trying to figure out on Trulia or Zillow what a property SHOULD sell for while someone else is actually out there buying the house meant for you!
Secondly, that is what they are asking, it doesn't mean that they will get it.
Third; those units rarely go up for sale and are in a highly sought after community, especially if you are a golfer, runner, swimmer or play tennis because this is within a planned community which has value-added amenities. Forth: You need to understand the difference between buying a single family home and a Townhouse within a condo association or a homeowners association. A portion of what you are buying is the unit and a portion of what you are buying is shares in the community association. If you even try to calculate a price per square foot, it will be all over the place. You cannot compare existing to new construction (I am in new construction so I know what I am talking about). New construction offers you NEW everything but there are a lot of things you don’t get: YOU pay the transfer tax, you many times pay for; appliances (including garage door openers), blinds and drapes, decks and patios. You pay for upgrades, garages - if detached, may be extra as well.
Bottom line: If you think it’s too high, don’t look at it. Most buyers in the Townhouse/Patio Home market are empty-nesters and they pay cash or get a minimal mortgage so they don’t have to worry about appraisals. They want what they want and are PAYING the prices for it! When this particular unit sells, look to see what it sells for and see who’s right. My guess is that it will sell in the next 2 months for approx. $230,000.
I wish you luck.
... more
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Sun Sep 12, 2010
Mack McCoy answered:
I think I speak for all of us - we're not going to give our blessings to you cutting your agent out of the deal.

If you can honestly say that you've gained no market knowledge from having this agent show you fifteen or twenty homes, well, that's one thing.

Personally, I think spending four or eight hours seeing fifteen houses with a good agent is like a "master class," like an actor getting seven one-hour one-on-ones with James Lipton.

But it gets better, because in this case, if you bring your agent on the deal, it's like having James Lipton coach you through your entire run on Broadway.

All the best,
... more
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Sun Aug 8, 2010
rdToledo answered:
Pati call the local town for that info
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Mon Mar 23, 2009
Insherah answered:
well it would be cash, and our buyer agent says that the lawyer is suppose to tell me the closing cost. AHHHH
No mortgage, is there a transfer tax for the state or city?
0 votes 2 answers Share Flag
Tue Nov 25, 2008
Joe Sorrentino answered:
Unfortunately, it is not easy to give a single answer. The best thing to do is to call the town assessor's office of each town to get a clear answer. I can try to give you a general idea though. Let's start with Amherst. Currently, Amherst properties are assessed at 92% of market value which the town assessor's office has determined. Unfortunately, we have not been able to get a clear answer on some of these but, the next thing that impacts the rate per thousand is the school district. Again, go to the Amherst site for a more detailed picture of what a property is currently being taxed: http://www.amherst.ny.us/govt/it/cpi/cpi_search_a.asp?txt_address
There are 4 different school districts within the town of Amherst and the school tax rate varies from district to district as does the fire district. Therefore, your best bet is to call the town Assessors office. If you want a ballpark figure for Amherst, try using $34/thousand. That will give you a true tax estimate without the STAR reduction (avg. $450-550/yr). Williamsville is a Village government within the Town of Amherst but also a postal zone for mail delivery purposes. If the property you are interested in is in the Village (call to find out) there will be additional tax.
Unfortunately the Town of Clarence details are not up on line so you have to call. There are 2 major school districts that service the Town of Clarence those being Williamsville Central and Clarence Central. The town assessor's office will give you the info based on the address (for phone numbers - http://www.erie.gov/clarence/). I believe the rate per thousand for a home in Clarence and in the Williamsville schools is $29/thousand, in Clarence w/Clarence Central Schools $25 or $26/thousand. Regardless of what the assessed value is in either of these towns, your sale price becomes your new market value. Depending on when they do revaluation, you can expect to have the value adjusted within 12-18 months if the sale price is higher than the current market value. To the best of my knowledge, Clarence is still on full value assessment. From what I have seen in recent past, if you purchase a home and the sale price was LOWER than the current established market value, you will most likely have to go through the Assessment Review process of that town to get it adjusted. All of the information and forms are on each of the town's site. If you know before closing that you are purchasing a home where the established market value (not assessed value) is lower that what you are paying, be sure to get a copy of the Bank Appraisal before closing. If you are getting a mortgage, you are generally required to pay for that which the bank keeps. If you are paying cash, I recommend that you have an appraisal done at the time of occupancy. You will need that to challenge the assessment along with your sales contract. If it is a foreclosure and is not habitable at the time of closing, they will take the after-sale improvements in consideration.
Did that help?

Joe Sorrentino
MJ Peterson Real Estate
joe@joesorrentino.com
... more
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