# WNY Real Estate **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [December 10, 2021, 5:52am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147 "2021-12-10T05:52:50Z")\ **Posts on this page:** 20\ **Page:** 19
**Author:** ![LUC1F3R](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luc1f3r/32/7299_2.png) [@LUC1F3R](https://forums.speedlife.net/u/LUC1F3R)\ **Post date:** [May 31, 2023, 6:26pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/361 "2023-05-31T18:26:48Z")
šŸ¤® So over $3k a month unless your dropping big money down. Gross. That house is near where we bought our first house in 2009 with 0% down for like $1200/month ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [May 31, 2023, 7:26pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/362 "2023-05-31T19:26:51Z")
itā€™s a trickle down from the top (inflation, monopoly money etc.). Up here it trickles out of toronto. someone in toronto buys a home for $300k 30 years ago and sells it for $4.5m in the last couple years. They become insensitive to price and bid up the pricing for smaller retirement-suitable homes and then go buy a cottage or a vacation property with the profit. bidding up the prices in the cottage and vacation property marketā€¦ then giving the downpayment to thier grandkids so they can bid up starter homes on top of all of that. For you guys itā€™s could be people coming out of Cali or NYC who had properties that exploded in value and theyā€™re moving back to more modest areas. I have noticed that a couple years ago i could have bought lots of stuff in WNY for half the current price. the carrying costs are also now pretty $$$ with rates where they are. also, i cant get a regular mortgage in the US since i dont do my taxes there. i have to pay 9% - 11% for private lendingā€¦ no thanks. but what is the alternative? ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [June 13, 2023, 3:30pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/363 "2023-06-13T15:30:00Z")
hey kiddos, had a few interesting chats in the last couple weeks that are pertinent here. apparently upwards of 30% of the loan portfolios of the major Canadian banks are interest-only or already delinquint. as of june 1 measures were started to get folks to sell or cash-up or lose their properties later this year. An associate of mine, when i shared this, verified that he is dealing with more than a half-dozen of these types of loans daily. he does sub-prime lending and refiā€™s so heā€™s in the space. also spoke to someone who has several properties in FL. market is turning back behind the scenes. he sold a waterfront conod for 10% below list price, is listing another property 10% below where it was last year and is getting calls on distressed commercial to buy at 20 - 30% below peak. what are you boys seeing out there? ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [June 13, 2023, 3:40pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/364 "2023-06-13T15:40:31Z")
Got this in my daily Seeking Alpha newsletter yesterday, somewhat relatedā€¦ _A mountain of credit card debt is piling up as Americans turn to plastic to counter their dwindling purchasing power. According to the Federal Reserve Bank of New York, consumers now owe a record $988B on their cards, up 17% from a year earlier, or about $5,700 per person. While the steadily rising figure took a break during the pandemic years, the number is causing renewed nervousness as it flirts with the fast-approaching $1T milestone._ _Driving the spike: High inflation is pushing more consumers to put non-discretionary spending on cards, while others may be having a harder time paring back their lifestyles despite the price pressures. Interest rates are compounding the issue, with the average annual percentage rate now over 20%, making it a really costly debt for consumers. Itā€™s also higher than at any point since the Fed started tracking card APRs in 1994, contributing to the overall U.S. household debt that topped $17T in Q1._ We also had the first house on my street have to do two open houses, Sunday 6/4 and Sunday 6/11. Every other one has sold immediately after the open house. Still listed for sale as of today, price has not dropped from the list of $374900. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [June 13, 2023, 3:48pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/365 "2023-06-13T15:48:23Z")
WNY didnt run up the way others did. Also, WNY, imho, is a bit of a hidden gem of a marketā€¦ no one thinks its cool, especially the people that live there, which makes it oddly unpretentious and therefore desirableā€¦ plus you can get a lot for your $ there relative to other markets. this pull-back though is nice to see. Still sitting in cash. hopefully we continue to see a drawing down of the market. probably better if it takes longer. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [June 13, 2023, 9:59pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/366 "2023-06-13T21:59:03Z")
I would love to see some pull back in the USVI market šŸ˜‰ ---
**Author:** ![LUC1F3R](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luc1f3r/32/7299_2.png) [@LUC1F3R](https://forums.speedlife.net/u/LUC1F3R)\ **Post date:** [June 14, 2023, 11:16am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/367 "2023-06-14T11:16:28Z")
Same. We have a trip planned to see a real estate agent in St Croix this january. Hopefully the whole damn market has collapsed by then ---
**Author:** ![1QIKZ](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/1qikz/32/6112_2.png) [@1QIKZ](https://forums.speedlife.net/u/1QIKZ)\ **Post date:** [June 16, 2023, 10:26pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/368 "2023-06-16T22:26:01Z")
All I know is Iā€™m working 3 houses right now with 2 more ready soon and basements being poured as I speak. If thereā€™s a housing slowdown around here I donā€™t see it yet. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [July 2, 2023, 6:45pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/369 "2023-07-02T18:45:49Z")
[![](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/9/6/969284520715ce78afbab7e2eb38ad2e7cb4871a.jpeg "Remy: cold dead hands") ](https://www.youtube.com/watch?v=TaKIb2hEdZg) ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [August 10, 2023, 1:37am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/370 "2023-08-10T01:37:45Z")
> **[The housing market's seller strike is so ruthless that only 7 of the nation's...](https://fortune.com/2023/08/07/housing-market-inventory-is-very-tight-in-most-regional-markets/amp/)** > > Among the 200 largest housing markets tracked nationwide, 193 markets exhibited inventory levels in July 2023 that were lower than those of July 2019. Josh i had to post that article so that i can look at it later. so much interestin information in it. > Among the nationā€™s 200 largest housing markets tracked by [Realtor.com](http://Realtor.com) (see the searchable chart above), 193 markets had inventory levels in July 2023 that were below July 2019 levels. Only seven of those nationā€™s 200 largest housing markets are back to pre-pandemic levels. That includes Killeen-Temple, Texas; Lubbock, Texas; Kennewick-Richland, Wash.; Waco, Texas; Austin-Round Rock-Georgetown, Texas; Huntsville, Ala.; and Beaumont-Port Arthur, Texas. what an interesting piece of data. wonder why these 7 markets are such standouts? ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [August 11, 2023, 12:28am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/371 "2023-08-11T00:28:59Z")
Maybe itā€™s like the GTA where everyone in TX saw their values spike and theyā€™re looking to upgrade or move. ---
**Author:** ![yamba6](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/yamba6/32/5161_2.png) [@yamba6](https://forums.speedlife.net/u/yamba6)\ **Post date:** [August 11, 2023, 5:47pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/372 "2023-08-11T17:47:49Z")
I really havenā€™t seen a slowdown while doing the Real Estate photography side of things. Iā€™m not doing extremely high end homes but still anything between $200-500k Iā€™d say. But all of those houses are still selling in literally a weekend. Just took photos last week for my realtor and that house is sold. Wasnā€™t anything special, was in West Seneca as a like 1200 sqft home. But already sold. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [August 12, 2023, 9:11pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/373 "2023-08-12T21:11:23Z")
A post was merged into an existing topic: [Bing, the news in your country is hilarious](https://forums.speedlife.net/t/bing-the-news-in-your-country-is-hilarious/227818/444) ---
**Author:** ![Daddie](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/daddie/32/7621_2.png) [@Daddie](https://forums.speedlife.net/u/Daddie)\ **Post date:** [August 14, 2023, 9:27pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/374 "2023-08-14T21:27:40Z")
Yeah, but when you sell your house, where do you go? Especially if you refiā€™d and/or took out some equity in your house in the last 4-5 years and are at a sub 3% mortgage? Youā€™re getting into a 7% mortgage and most likely a more expensive property. Iā€™ve actually been following WNY real estate a lot, and your biggest problem is property taxes. The tax laws were never designed for property value to be so high relative to income. So EVEN if you somehow can land a 5% mortgage right now, somehow, that 1500 sq ft 3/2 cost 450k, and youā€™re getting boned for around another 5% for property taxes. People arenā€™t making 300% more than what they were making 15 years ago. Anyway, itā€™s still appreciating because thereā€™s no inventory, because no one wants to get out of their cushy 2.5% mortgage ---
**Author:** ![Daddie](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/daddie/32/7621_2.png) [@Daddie](https://forums.speedlife.net/u/Daddie)\ **Post date:** [August 14, 2023, 9:35pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/375 "2023-08-14T21:35:23Z")
Have partners in FL. They take care of Miami, Jacksonville and Ft Lauderdale. Some of that listing price is stupid dickhead real estate agents who donā€™t know how to read the market and just listen to the owner when they say ā€œI want 1.5m for my houseā€ vs what the house is really worth, more like 1.3. So not always a good metric when looking at ā€œselling for X% under listingā€, and listing a property 10% less in the same area is very dependent on a lot of other factors. Commercial, however, is getting hammered everywhere, but where it thrives, ROI is insane. There are things that are slowing but the real estate crash is gonna be a tough one to gauge, and a perceived ā€œcrashā€ that was supposed to happen is still not really happening. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [August 14, 2023, 9:41pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/376 "2023-08-14T21:41:10Z")
The longer people talk about the ā€œinevitableā€ crash, the less likely it is to happen šŸ¤‘ ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [August 15, 2023, 5:30pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/377 "2023-08-15T17:30:10Z")
[https://www.realtor.com/realestateandhomes-detail/8193-Oak-Leaf-Ln\_Williamsville\_NY\_14221\_M38281-24789](https://www.realtor.com/realestateandhomes-detail/8193-Oak-Leaf-Ln_Williamsville_NY_14221_M38281-24789) this one dropped by $100k in a year. itā€™s happening, but slowly. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [August 17, 2023, 1:29pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/378 "2023-08-17T13:29:18Z")
> **[3012 Staley Rd, Grand Island, NY 14072 | MLS #B1490851 | Zillow](https://www.zillow.com/homedetails/3012-Staley-Rd-Grand-Island-NY-14072/246857673_zpid/)** > > This 2202 square feet Single Family home has 3 bedrooms and 3 bathrooms. It is located at 3012 Staley Rd, Grand Island, NY. ---
**Author:** ![LUC1F3R](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luc1f3r/32/7299_2.png) [@LUC1F3R](https://forums.speedlife.net/u/LUC1F3R)\ **Post date:** [August 17, 2023, 2:50pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/379 "2023-08-17T14:50:48Z")
cool property but way too much for that house ---
**Author:** ![drvnkd](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/drvnkd/32/109615_2.png) [@drvnkd](https://forums.speedlife.net/u/drvnkd)\ **Post date:** [August 17, 2023, 2:55pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/380 "2023-08-17T14:55:48Z")
Nice looking place. Imagine how long it takes to find a lawn service with an quipment trailer AND boat. [Previous page](https://forums.speedlife.net/t/wny-real-estate/1414147.md?page=18) [Next page](https://forums.speedlife.net/t/wny-real-estate/1414147.md?page=20)