9 reasons to be optimistic about housing in 2012

9 reasons to be optimistic about housing

Plenty of good news has been coming in about housing lately. Here's a round-up.

http://www.housingzone.com/industry-data-research/9-reasons-be-optimistic-about-housing

Western New York Real Estate Market Still Healthy

Three New York State housing markets home to lowest amount of 

underwater mortgages in nation

12/1/2011

According to 24/7 Wall St., only 3.41 percent of the Rochester, NY market’s mortgages are
underwater, making it the market with the fewest underwater mortgages in the nation.  The
Albany-Schenectady-Troy, NY market ranked number three with only 4 percent of its home
mortgages underwater, and the Buffalo-Niagara Falls, NY market ranked number four with
4.22 percent.

Underwater mortgage refers to mortgages that are worth more than the actual value of the home.
According to 24/7 Wall St., the reason for the relatively low percentage of underwater mortgages
in these areas is that home values remained stable during the housing crisis and relatively few
risky mortgages were taken out on new homes.

The metropolitan area with the highest percentage of underwater mortgages in the country is the
Las Vegas-Paradise, NV market where 63.96 percent of homes are underwater.

To read the entire 24/7 Wall St. article, click here.

What's New at Marrano - 11/13/11

The Marrano tradition continues!

Now, enjoy more FREE GIFTS than ever during our Home for the Holidays Program!

 Click Picture for more info

What's New at Marrano - 10/16/11

Introducing 32 new home sites with Ranch designs from the $170,000s.

Marrano has grand opened a patio home model to introduce our new Garden View community in the West Seneca area where we offer Ranch design starting in the low $170,000s. Garden View features only 32 new home sites tucked back for added privacy and adjacent to Marrano's  Burchfield Village, an immensely popular community near the quaint hamlet of Gardenville. Our new model demonstrates what an outstanding value home buyers will enjoy at Garden View.

We have created a new arrangement of home sites in a private setting where we are offering our most affordable patio home designs. Combine this with an outstanding location and the maintenance-free patio home lifestyle and Garden View is an exceptional choice.

Our Ranch model shows the type of open floor plan available at Garden View

* A versatile layout that is comfortable, convenient, and efficient with a large kitchen featuring plenty of cabinet and counter space and a dinette looking out on the covered front porch. 

* A pass through from the kitchen into the formal dining area adds even more convenience, and the dining area flows uninterrupted into the great room for an airy feel. 

* The master bedroom suite is situated for maximum privacy and configured with a sitting area and large walk-in closet. 

* The adjacent guest bedroom offers easy access to the main bath and also has a walk-in closet. 

* The success of the design centers on the adaptability of the plan to changes in use. For example, the young professional, may find the room ideal for a home office. For the empty nester, the space is ideal for visiting children or grandchildren.  

* A first floor laundry area and a powder room round out the floor plan.

A new home at Garden View includes landscaping, the front yard sodded and rear yard seeded, and a sprinkler system for the front yard -- all features that would normally cost extra. Like other Marrano patio home developments, Garden View offers the carefree lifestyle with tasks such as lawn cutting and snow removal taken care of for residents by a home owners association.  

For a limited time, Marrano is offering special pre-introductory pricing at Garden View. With today's interest ratesas low as an amazing 3.875% based on current rates and our intro pricing, now is the time to build at Garden View. We encourage buyers to hurry as there are only 32 lots set back on a hill in private surroundings -- they are sure to sell fast.

Marrano's new Garden View model is available for immediate sale, priced in the $170,000s. Ask about other completed Ranch homes available for immediate sale, ready to move in as little as 30 to 60 days. Visit the new model Saturday and Sunday from 1 to 5 PM, and Monday, Tuesday and Wednesday from 1 to 5 PM. Take French Road east of Union to Garden View. Call 809-8676 for more details.

New York State home sales show double-digit increases

New York State home sales show double-digit increases;
uneven recovery continues

From NYSAR:

Albany –Sept. 27, 2011 – New York State home sales were up nearly 26 percent in August compared to the same time last year, and up 11.4 percent compared to the July sales total, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price decreased slightly from July.
“The jump in August sales while the median sales price decreased for the first time in four months continues to show uneven recovery in our state’s housing market,” said Duncan R. MacKenzie, NYSAR chief executive officer. “These August numbers need to be seen in the context of the post federal tax-credit hangover last year and a weak July market this year.”
“Historically low interest rates and strong affordability conditions should be enticing to consumers,” said MacKenzie, “but with dismal economic news and slow job growth buyer enthusiasm remains greatly tempered. We anticipate the market to remain in an uneven recovery, especially given the devastation caused by Tropical Storms Irene and Lee in many areas of our state.”
New York REALTORS sold 7,752 existing single-family homes in August, an increase of 25.8 percent from the August 2010 total of 6,163. The August 2011 sales total is also an increase of 11.4 percent compared to the July 2011 total of 6,960.
The August 2011 median sales price of $220,000 represents a decrease of 1.8 percent compared to the July 2011 median sales price of $224,000 and a decrease of 7.6 percent compared to the August 2010 median sales price of $238,000.
Annual Homes Sold 2007-2009
Annual Median Price 2007-2009
Monthly Sales Data
Monthly Price Data
Quarterly Homes Sold
Quarterly Median Price
YTD Sales Data
YTD Price Data

10 Cities Where You Can Buy a House for Under $150,000 - US News and World Report

Buffalo/Niagara ranks #8 in the US!!

10 Cities Where You Can Buy a House for Under $150,000 - US News and World Report

Foreclosure activity decreases in all New York State metro areas

From NYSAR:

Foreclosure activity decreases in all New York State metro areas; 

In its mid-year 2011 metropolitan foreclosure market report, RealtyTrac, Inc. 

reported that all eight of New York’s metropolitan areas with populations of

 200,000 or more posted decreased foreclosure filings from the previous six 

months as well as the first six months of 2010. Additionally, the Utica-Rome, 

NY metropolitan area, with one in every 9,757 homes receiving a foreclosure 

in the first half of 2011, had the lowest foreclosure activity of all U.S.

 metropolitan areas. Of these 211 metropolitan areas in the country, Utica-Rome 

came in at number 211.8/1/2011

The rest of New York State’s metropolitan areas weren’t far behind. Syracuse 

was number 209, Rochester was number 207, Buffalo-Niagara Falls was number 

206, Albany-Schenectady-Troy was number 203, and Binghamton was number 200. 

The New York City region, including Northern New Jersey and Long Island, and the

 Poughkeepsie-Newburgh-Middletown areas had a slightly higher foreclosure rates, 

although still rank modestly among the rest of the nation at numbers 181 and 163 

respectively.
Click here to learn more.

Whats New at Marrano - 6/11/11

How Cool Is This?

Save like never before with Marrano's 2011 Home Show Special

Call Steve Converse for more details at 716-809-8676. 

Whats New at Marrano - 5/28/11

2011 Home Show starts June 4 -- Free Admission

Tour 5 new home designs with something for everyone from the $230,000s

The 2011 Home Show by Marrano grand opens Saturday and Sunday, June 4 and 5 at the Princeton Estates community off Fisher Road in West Seneca. Marrano is pleased to bring you the latest in new home construction with the only home show in the Buffalo area this year. Here are the details:

June 4 through 19, 2011 - Free Admission

• 5 decorated new homes open daily 4 to 8 PM; Saturday and Sunday 1 to 5 PM
• All homes available for immediate sale with pricing starting in the $230,000s
• Free parking in the community off Fisher Road in West Seneca
• Refreshments available
• Representatives from First Niagara on hand to offer information on mortgages
• Pella window representative and display to show the latest in new window technology

Here is a sneak preview!

127 Chancellor

• Marrano's new Craftsman design shown for the very first time
• 4 bedrooms, 2.5 bath priced in $250,000s

---

131 Chancellor

• Marrano's Anniversary Series offering incredible value
• 4 bedrooms, 2.5 bath from $240,000s

---

100 Chancellor

• Exceptional Ranch design offering comfort and convenience in an open plan
• Over 1,475 s.f. of living space, priced in $250,000s

---

104 Chancellor

• 4 bedrooms, 2.5 baths -- the perfect plan for today's family
• No better value in WNY, priced in $230,000s

---

1 Caldwell

• Marrano's fully decorated model, loaded with green, energy saving features
• Save thousands on what it would cost to build this home new

Come back often to this web site as we will provide much more detail as the 2011 Home Show gets underway. For more information, call Steve Converse at (716) 809-8676

Whats New at Marrano - 5/14/11

New patio home model grand opening for Lakewoods in Elma.

Come see our charming new model and beautiful, private home sites in this one-of-a-kind community.

Marrano introduced Lakewoods, a new offering of cul-de-sac home sites with water views and privacy enhanced by wooded areas within our Springbrook Shores patio home community in Elma. Now, we are grand opening a new model to coincide with Lakewoods, a charming, cottage style design that blends perfectly with the natural surroundings of the neighborhood. We are beginning to wind down the patio home community and our Lakewoods grand opening underlines the limited opportunities to enjoy the unique lifestyle here. Come see the new model and take a drive through the country-like setting and experience it all for yourself.

New Model

• Charm and character reminiscent of the classic homes in Elma
• Covered front porch with stone accents and brick front on exterior elevation
• Creative touches throughout by Marrano's professional interior designers
• Large, wide open great room with soaring ceiling, gas fireplace and large windows
• Hardwood floors in foyer and spacious kitchen with large pantry, wine rack and pass-through to dining room
• Arch of pass-through matches the arch of the custom window above the fireplace in great room
• First floor master suite tucked away for privacy with walk-in closet and private master bath
• Guest bedroom is practically a suite in itself, located near the main bath
• Innovative loft overlooking the great room is shown as a home office. With large walk-in closet, it could be a computer room, entertainment room, or even an additional bedroom
• First floor laundry and mudroom area leads to 2-car garage
• Full eight-foot basement
• This exciting plan can be built starting in the mid-$200,000s

New Lakewoods

• Choice of 4 designs starting in the low $220,000s
• Winding road leads to cul-de-sac arrangement surrounded by natural beauty
• Large, shimmering lake provides a backdrop for more than half the new home sites
• Other lots are adjacent to a wooded conservation area

Natural beauty is all around

• Over 160 acres of conservation area, three large lakes and common areas create a neighborhood like no other
• Hiking and nature trail as long as two miles winding through the woods and open areas
• Fitness stations along the trail for additional exercise options

Visit today

We may never see such private and beautiful home sites like Lakewoods again, so do not wait. Visit the model grand opening this Saturday and Sunday, and daily 1 to 5 PM. Take Seneca Street, Route 16, east past Transit to Rice Road to 6 South Shore. Call (716) 608-8056 for more information.

NYS Foreclosures Among Lowest In Nation

RealtyTrac: New York State Q1 total foreclosures decrease; 

state ranks among lowest in nation

4/14/2011

In its U.S. Foreclosure Market Report for the first quarter of 2011, 

which reports default notices, scheduled auctions and bank repossessions, 

RealtyTrac Inc.  reported New York State ranked number 43 of all 50 states 

for quarterly total foreclosure filings and number 44 for filings in March 2011.

New York had 8,252 total foreclosure filings in the first quarter and 2,604 

filings in the month of March.  Foreclosure filings in New York State 

decreased 10.75 percent from the previous quarter and 5.14 percent from 

the previous month. One in every 972 housing units in New York State 

received a foreclosure filing in the first quarter and one in every 3,079 

received a foreclosure filing in March.

Nationally, foreclosure filings were reported on 681,153 U.S. properties, 

a decrease of 15.76 percent from the last quarter and a nearly a 27-percent

 decrease from the 2010 first quarter. One in every 191 U.S. housing units 

received a foreclosure filing during the quarter and one in every 542 received 

a foreclosure filing in March.

Foreclosure filings were reported nationally on 239,795 U.S. properties in 

March, an increase of 6.53 percent from the previous month but a decrease

 of nearly 35 percent from March 2010.

To read the entire RealtyTrac press release, click here.

Whats New at Marrano - 4/9/11

Marrano has more open houses this weekend!

In addition to more than 10 decorated models, you can tour the following homes, open this Saturday and Sunday, April 9 & 10, from 1 to 5 PM.

131 Chancellor at Princeton Estates in West Seneca

 

An incredible value in this 4-bedroom, 2.5 bath design on a nice home site with country kitchen, great room, master bedroom suite and more! Just $239,900. Take Fisher Road to Caldwell to 131 Chancellor. Sure to sell fast, so don't wait. Call (716) 809-8676

Patio Homes at Hickory Grove in Cheektowaga

 

Tour 4 different designs in one visit with innovative Ranch plans starting in the $170,000s. Quiet community bordering West Seneca. Off French Road east of Union. Call (716) 809-8676

20 Carlise at Courtyard Patio Homes in Lancaster

 

This decorated Ranch model can be yours to enjoy the patio home lifestyle. Open floor plan in quiet location, steps to private 2-acre park for residents. Priced to sell at $239,900. Take Pleasant View east of Central to Juniper Boulevard. Take Juniper to 20 Carlisle. Call (716) 809-8676

Whats New at Marrano - 3/26/11

Save thousands during our 50th Anniversary of building new homes in West Seneca.

Call Steve Converse at 716-809-8676 for an unprecedented opportunity to build your new Marrano home.

What's New at Marrano - 3/12/11

Marrano grand opens 2 new decorated models at Central Square Villas in Lancaster

Tour our Ranch and 2-story designs starting at $162,900. 

Our grand opening of two new decorated models at Central Square Villas town homes in Lancaster shows you just how popular this new community has become. With 2-story designs from $162,900 and Ranch plans from the $180,000s, in an outstanding Lancaster location with a pool and community center for residents, it's easy to see Central Square Villas has something for everyone. Visit the grand opening this weekend and see how much Central Square Villas has to offer -- like no other community in Western New York.

New 2-story Model at 20 Hanover

• Open floor plan professionally decorated to show you the versatility and flexibility of this design
• Great room with fireplace flanked by bright windows
• Spacious dinette area from great room flows seamlessly to kitchen
• Kitchen design arranges cabinets and counter space for exceptional amount of storage
• Convenient first floor laundry and mudroom off the kitchen
• Master bedroom upstairs offers privacy and has walk-in closet

New Ranch design at 29 Hanover

• Wide open floor plan, bright and airy
• Large great room with plenty of windows for natural light
• Spacious kitchen with hardwood floors
• Dinette area with sliding glass door leading to private, covered porch
• Private master bedroom suite with large closet and master bath
• Guest bedroom with plenty of closet space and convenient to main bath
• First floor laundry and mudroom

Completed town homes ready to move in

• Ask about completed units ready to move in, in as little as 30 - 60 days
• 2-story units from $160,000s
• Ranch units from $180,000s
• End units available

 So many amenities, so affordable

• Pool and community center for private use of residents
• Walking paths -- perfect for exercising and easy access to pool and community center
• Excellent Lancaster location off Pleasant View
• Condominium status for tax savings
• Owners association takes care of landscaping and lawn maintenance, snow removal and more
• Why rent --  based on current mortgage rates, you could enjoy a new Marrano home at central Square Villas for as little as $739 a month, principal and interest. Ask your Marrano new home construction professional for details.
• Home ownership enables you to build equity and deduct mortgage interest from income taxes

Visit the grand opening today. Models open Saturday and Sunday from 1 to 5 PM, and Monday through Wednesday 1 to 5 PM. Take Pleasant View east of Central in Lancaster to Central Square Villas. Call (716)809-8676