It is all local when it comes to your home’s value!

The media loves to take everything to the National level, especially Real Estate and home values.

If that were true everyone could purchase a home for the same amount of money. Niagara Falls home owners cannot compare their home prices to that of Long Beach CA or Virginia Beach VA or Bend OR. Even comparing home values in Hamburg or Amherst in Erie County is comparing apples to buttons.

True data can show national trends, but Real Estate is local folks! In Buffalo Home Values can be as local as streets and blocks, and type of housing.

Think about the factors that go into why a Buffalo home sell or do not sell:

• Economic factors distinguishing each; even within individual areas in the Buffalo real estate markets are very diverse. Black Rock vs. Allentown vs. Grand Island in Erie County. Deveaux vs. LaSalle in Niagara Falls. Each area has pros and cons and each are priced far differently than one another.

• The Employment base is quite different in Niagara Falls than Orchard Park, and the values of homes in those areas reflect that.

• Dynamics within a region will also cause demand anomalies — where people want to live will create a demand, meanwhile those living in the lesser demand areas have to price accordingly.

• Don’t forget Real Estate is all about Location! Location! Location!

Related Articles:

• What the Historic Fed Move Means to the Buffalo & Niagara Falls NY Region

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• How Buyers Can Save Money (and aggravation) on their Niagara Falls Home Purchase

• WNY Realtor Question: Why do people use hard money?

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.

Our Featured Homes for Sale:

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.

Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2012 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.

All Statistics are gathered from the Buffalo Niagara Association of REALTORS®.

Properties found on this Web site may be listed with a brokerage other than the owner of this site and are displayed here via the Internet Data Exchange (IDX) system of this broker’s MLS. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing nor displaying broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2012 Western New York Real Estate Information Services (WNYREIS), LLC. All rights reserved.