Is this a good time to purchase a home in WNY?

predicting-real-estate-tren

What separates the winners from the losers
is
how a person reacts to each new twist of fate.”

Donald Trump

Real Estate is an interesting business. David Podgursky made an excellent point about the cost of not buying a home and his advice was:

“If you’re buying a home – buy a house you LOVE. If you have this many regrets causing you to keep from purchasing then maybe you just don’t LOVE the house. Don’t, though, let a good deal or the right house slip away from you because you’re betting on the market. Know what is controllable and what isn’t. The right house could disappear as quickly as it came on the market and you could miss out on the right property while trying to figure out the right time to make your move”.

Help – My Crystal Ball is Cloudy was my response:

” There are many factors that affect us all across the country – Baby Boomers, Generation X, the economy, insurance, taxes and disasters to name a few. How they will affect us will be dependent on many local things. But there are things that point out that now is the time to buy. Mortgage rates, lifestyle decisions, and the like play into the decision as importantly as are we heading for an upswing in prices. You may purchase in the downswing while prices go a bit lower, but you run the risk of higher interest rates later on. If you are planning on keeping the property for long term, this setback is temporary. If you are too slow you could miss out on that perceived “better opportunity” only paying more and with a higher interest rate. Because that is also a possibility!”

As Realtors® we are here to assist WNY buyers to achieve the American Dream – Home Ownership. That might be to relocate to a new location, which might mean selling their current property, helping them find another qualified agent in the new area. As your Real Estate Professional we have to be part Banker, part Parent, in addition to helping you find a Western New York home. We have to wade through the massive amount of information that is now available to the consumer. With Web 2.0 that information has expanded tenfold. No wonder the consumer is sitting on the fence. It was a lot of information to process when you were looking at two or three neighborhoods. Now people are exposed to a lot of extra information, information that may not be relevant to your specific situation or area. The Consumer gets stuck in analysis paralysis.

A perfect example of the information over-load and how things can get lost is Allison Stewart’s post What to do when cloudy ball buyers demands fall of deaf ears the day after the one I posted. In it she talks about affordable housing, or the lack thereof. She brought up an important point. When I commented on it, the word passion was there for me to pass the human test. It started me thinking, as Realtors® we need to be passionate about our areas, we need to be promoting it and sharing our knowledge of the area.

If all that is out there is the negative why would someone want to purchase? I am not saying that we should lie about these communities, but let us focus on the good. The media seems to do well enough on the negative. Remember that is what gets ratings and newspapers sold. Mark Eibner wrote a great post about Crystal Balls his advice in the market if for the Colorado area, but he probably says it best for the whole country

For those of us that have been in this business long enough, we know that there is no such thing as a crystal ball. The only thing that is certain for sure is change. Change will be the biggest news item for the next five years. The Crystal ball says get ready to CHANGE.”

How are you going to react to the changes in the Western New York market? What changes in your plan are you going to make?

How are you going to be one of the winners this year? The answer to “Is this a good time to purchase a home in WNY” is different for each of us.

For more information call Colleen Kulikowski

(716) 650-0051

 

Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call www.BestBuffaloHomes.com at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.

What about one of these homes?

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All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.
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About Colleen Kulikowski, Associate Real Estate Broker (716) 650-0051

Colleen Kulikowski is an Associate Real Estate Broker with the Griffin Team @ Keller Williams Realty Buffalo Northtowns specializing in Western New York residential homes who doesn’t follow trends; she blazes new trails and is able to recognize industry trends and implement them to her client’s best interest. Colleen has created a unique following with one of the top local internet positions in the country generating thousands of leads for her team. Real Estate is a second career for Kulikowski who’s first career was in Information Technology and Data Warehousing working for such companies as Radio City Music Hall, Nabisco Foods and as a consultant in the Financial and Insurance industries. A strong background in technology and management provides her with keen analytical and sharp negotiating skills.

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