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Buffalo : Real Estate Advice

  • All546
  • Local Info45
  • Home Buying246
  • Home Selling31
  • Market Conditions11

Activity 402
Fri Jul 1, 2011
Dan Tabit answered:
Laws prevent agents from recommending or "steering" buyers to or from one area over another. Since agents can't make suggestions, my recommendation would be to visit the area, meet some locals and get impressions from them. Before you buy a specific home, I also recommend you meet your neighbors. If you have the Hatfield’s on one side and the McCoy's on the other and they are feuding with each other across your potential backyard, you want to know before you are committed to buying there. ... more
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Wed Sep 13, 2017
Anna M Brocco answered:
You can begin by acquiring your credit report from each of the credit bureaus, and if applicable dispute any negatives; you can pay down debt; pay off old debt; pay all bills on time; keep credit cards below 50%, etc. ... more
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Wed Jun 1, 2011
Lovell Braud answered:
hello Albert i know a great area in florida you can buy an house but it is not in orlando it is near it tho please contact me for an appointment you would have to come to nyc for an appointment or check with the office but please i can help you 9173704312 ... more
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Fri Jun 13, 2014
$9,000 at 6%, if you want to offer more, 7% would equal $10,500. If I were listing a home today I would pay more to the selling agent, maybe a bonus of 1-2%.
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Tue May 17, 2011
Gail Gladstone answered:
For a mortgage broker, I use Dominick Sutera at Academy Mortgage Corp. You can reach Dominick at, 516-249-4800 x 223 and his cell is 516-655-2900.
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Tue Apr 12, 2011
Jeremy Bates answered:
we provide an array of services from management, to sales and acquisitions, to full construction services. our team can take care of every aspect of your building and tenant affairs while also providing full online visibility and close communication. check out our website and call me at your convenience. Jeremy Bates ... more
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Tue Apr 12, 2011
Ryan Walley answered:
Don't do it.

Just kidding... Can you elaborate on your question? Whats the "problem"?
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Mon Apr 4, 2011
Kevin Olson, Jessica Laude answered:
Yes, yes, yes! I do this every time, and most of the time it works provided your offer isn't far lower than the others, or you are asking for a closing 6 months out. Submit the letter telling them how much you love the house, how it works well for you and your family, and then let them know what plans you have on maintaining/improving the house over the years. Good luck to you, and good question! ... more
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Tue Apr 5, 2011
Joe Sorrentino answered:
It's happening to a lot of people, not just you. Also, many people are having difficulty refinancing because the threshold for acceptable credit scores are higher for not only lenders but also Mortgage Insurance companies (PMI) and many people cannot qualiy to refinance the house they are living in. Try going to a BANK that is local based. If you have to borrow money, they select the appraiser not you. ... more
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Wed Mar 23, 2011
L. asked:
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Wed Aug 3, 2011
Mitch Larrivee answered:
I have seen that happen..

As a side note- just want to let you know that it is not legal for agents/brokers to be talking about commission rates (due to price fixing laws) with other agents/brokers. It may be a good idea for you to ask your friends and family or even talk one-on-one with a few agents. ... more
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Mon Dec 9, 2013
Joe Sorrentino answered:
It you are talking about down at the lake, it is very unlikely. You should really check with a local bank ( M&T, First Niagara, HSBC) who is familiar with the area and will give you accurate information about whether or not the property is mortgagable or not. There have been so many foreclosures in the past two years on vacation properties down at Point Breeze, Angola etc. that it may be difficult. Is the structure on a foundation or piers? Is it a private road with deed restrictions or is it a public road?
Feel free to e-mail me in private to discuss further;

Joe Sorrentino
Associate Real Estate Broker
MJ Peterson Real Estate
Serving the Buffalo-Niagara Region
... more
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Sun Feb 20, 2011
Sandra Pond answered:
Dear Bryan,
I am assuming that you are interested in geneology, and want to find a family member's former house- I like geneology myself and don't think you are purposely initiating a scam. There are no houses for sale right now on Elam, nor do realtors have no way to know the names of former owners. We also do not show houses to a client unless they are prequalified to get a mortgage or can show proof of funds. I used to live in Parkside and can tell you that the homes date to the early 1900s. Elam is a very short street, and the Parkside area is a charming, stable community.
Sandy Pond
... more
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Sat Feb 19, 2011
Pushpa Gunatilake answered:
Hi Prashant,
I am a real estate broker in buffalo area came from Staten Island Ny to Buffalo 7 yrs ago. You will love this quiet life style here.... We have some lake front suburb areas... if you contact me we will be able to talk more.... I love to help you for your real estate need. Pl. contact me @ 716-907-3046 or e-mail me
Hope to talk to you soon...
... more
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Wed Feb 9, 2011
Bill Eckler answered:

The property could be off the market for any number of reasons: pending status(an executed contract), expired listing, repairs, withdrawn by the seller, foreclosed, etc,

Likely the best source for accurate information would be through a local real estate professional. Consider contact an area agent.

Best wishes,

... more
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Wed Feb 9, 2011
Joe Sorrentino answered:
I don't know what source your using for information but, 91 Kensington, Buffalo, NY 14214 was sold for $12,000, closed on 3/19/09 and is currently assessed at $30, 200. When a property is purchased for less that what it is assessed for, it is the new buyers responsibility to challenge the assessment to get it lowered unless they wat to pay more taxes than they should. However, it is currently owned by Sister's of Charity Hospital and they probably don't care about the assessment if they are tax exempt. ... more
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Wed Feb 9, 2011
Bill Eckler answered:
Consider referring to the local tax records........
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Thu Feb 10, 2011
Dawn Toledo answered:
Nothing...just have proof of funds and contact us..we are your connection to investment property in the Buffalo/Niagara falls area. we are adding more and more properties every week...starting at 10k to 91k(4unit) or more ... more
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Mon Jan 31, 2011
Jodi Sherretts answered:
It depends. There are other factors like how much debt you have and how much money you have to put down. If you have low debt and money to put down you should be okay. Most likely your interest rate will be higher than someone with a higher score.
Good luck!
... more
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Tue Dec 6, 2011
First Last answered:
Here's the best advice there is: Find a good property manager first. You're going to need one anyway, unless you plan to move to Buffalo.

In New York State property managers have to have real estate license(s). So any PM can help you buy a property.

Look up property managers on the web and start calling, finding out how many properties they manage, and if they have any current clients who want/need to sell. You want a property manager that's more than a 1 person office, but I've had good luck with small offices (3-4 person operations). So ask for the names of the employees, the name of the bookkeeper.

Check references!!! For property managers call their clients who have had them at least 2-5 years. You must, must, must, check references. Also search the web for reviews. Avoid new PMs.

Then ask for a copy of the property management agreement, and read it carefully, and compare it with other agreements. There may be several tiers of service available, depending on how involved you want to be. Fees range from 7% (the lowest I know of) to 15%, and average around 10% of gross rents.

These agreements vary *hugely*. There is no such thing as a "standard property management agreement."

Somebody who wants to be your PM is not going to sell you a problem property unless they are stupid, and your reference check has already screened out those kind. Because the income stream over time is worth a lot more than the one time sales commission, and nobody wants to manage a headache.

If possible, once you've done all that, make a trip to Buffalo to meet with the PM. You can buy sight unseen and hire sight unseen, I've done it, but it's more fun and more effect long-term to get to know the people you're working with.

Do this right, do it yourself, and you'll be very pleased with how things go for you, I predict.

Karla Harby, VP
Charles Rutebenberg Realty
New York City
... more
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