Buffalo leads the nation in real estate appreciation

Written by Alan Findlay on . Posted in Buffalo, Investor Insight, News

Photo By David Sawyer

Research firm Clear Capital reveals in the January 2014 issue of Kiplinger’s Personal Finance magazine that Buffalo prices are up 16% since May 31, 2006 – highest among the 100 largest metro areas in the US.

The median sales price in Allentown rose 43 percent from six years ago. Over the same six years, prices rose 31 percent in North Buffalo and 15 percent in the Delaware District.

Read the full story at The Buffalo News

Click here to see property for sale in Buffalo

Photo by David Sawyer

Vacancy Rates – Buffalo Ranks Seventh-Worst

Written by Alan Findlay on . Posted in Buffalo, News, Stats & Trends

The City of Buffalo has the seventh-worst housing vacancy rate among America’s major cities, according to figures released by the U.S. Census Bureau.
The same federal study shows that Buffalo has the oldest and most inexpensive housing stock among the 81 U.S. cities with at least 100,000 homes.

Read more: New Orleans has worst housing vacancy rate; Buffalo is seventh-worst | Business First

Buffalo Niagara Region Ranks 5th In Affordable Housing

Written by Alan Findlay on . Posted in Buffalo, News, Stats & Trends, Syracuse

Based on median sale price and median income, the Buffalo Niagara region ranked 5th among large metro areas on the quarterly “Housing Opportunity Index” created by the National Association of Home Builders and Wells Fargo.

The region earned an “affordability” score of 93.3 percent, meaning that percentage of new and previously occupied homes sold from April through June were considered affordable for a family earning the region’s median income. In Buffalo Niagara, the median sale price was $112,000, meaning half the homes sold for less than and more than that amount. The median family income was $63,700.

The survey does not take into account property taxes, often cited as a negative factor offsetting the region’s relatively inexpensive housing.

No. 1 on the most-affordable list for the second quarter was Syracuse, with a rating of 97.2 percent. Second was Indianapolis, which had held the No. 1 spot for five straight years. Upstate New York was well represented on the list, with Rochester at No. 10.

Source: BuffaloNews.com
Photo: Eliot Square, Buffalo NY via Flickr

Buffalo Foreclosure Filings Decline

Written by Alan Findlay on . Posted in Buffalo, Foreclosure, News, Stats & Trends

A mid-year report released by RealtyTrac Inc. shows foreclosure filings in Buffalo rank at the low end of the 206 markets measured nationwide. According to the report, there were 915 foreclosure filings in the Buffalo area from January through June, or one for every 570 households, a decline of 45 percent over the first six months of 2009. That placed Buffalo 197th on the list.

Read more: U.S. foreclosure woes not felt in Buffalo – Business First of Buffalo

Decision Time for HSBC

Written by Alan Findlay on . Posted in Buffalo, News

HSBC Bank USA NA, the largest bank in Buffalo, expects to decide “in the next few months” whether it will renew its lease at the city’s tallest office building or move elsewhere.

HSBC spokesperson Neil Brazil said Friday that the bank, which employs 2,227 workers at the downtown One HSBC Center, initiated a review of its future real estate requirements in Buffalo earlier this year. The bank has leased space at the center since 1972, the year after the 40-story building opened.

Read more: HSBC site selection few months away – Business First of Buffalo

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