$194,900 on Chenango? Whatever you people are smoking, send some this way.....
$194,900 on Chenango? Whatever you people are smoking, send some this way.....
Let's see what the market says. If it doesn't sell, the price gets chopped. Its either over-aggressive pricing, or a sign of gentrification heading west of Richmond. In any case- a bold step. He'll either look like a fool or a pioneer, my hope is the latter. Is it true he is moving into one of the homes?
I used to bike past these all the time when I lived on Hampshire. There's some real potential in this neighborhood, let's hope the trend spreads even further west!
This is practically a brand new house, so the price tag may not seem at shocking as one might think. For a buyer who isn't put off by the location, this could be a good deal if the price is negotiated accordingly.
When this great story of Harvey Garrett and the WSCC's wonderful rehabilitation of houses on Chenango St first appeared in March, I was stunned. It also was a great natural high and I felt excited about the thought of the entire West Side be rehabbed down to the Niagara River. But about the bungalow, it was priced at $195K in March and it's now $194,900. That's a drop in price of $100. Gee, what a clever marketing ploy. The guy whose doing the condo rehab on York St did a couple house rehabs on Ripley and further down on York. These houses were 2 stories and the asking prices were $99,000. The area of York St from Richmond through 15th St has made substantial rehabilitation progress, and it has 2 streets, Union Place and Little Summer, that a lot of people would like to live on. The point is that a rehabbed house within a neighborhood that has surrounding blocks of rehabbed houses is going for $99k while a house on a street that has only Richmond and the block long rehabbed Essex St behind it and the ongoing "Wild West" in front of it has an asking price of $194K that just doesn't make sense. A bungalow homeowner on Union or Little Summer can reasonably start with an asking price of $194. Why the price difference when Chenango is a block over from Union Place and Little Summer? Because there is a strong demand for houses on those 2 streets while there is no demand for houses on Chenango. That situation will change as Harvey and the WSCC move across the West Side. I also want to say to Harvey and the contractor that you've done something excellent here and, Harvey, your plan is excellent "out of the box" thinking. I'd love to meet both of you around Garden Walk time to pick your brains with my questions.
good point..if you are able to find someone willing to pay $200k in the W Ferry/Mass ave area, by all means send me his name right away...i have some jp losman football cards i want to sell for $500 each...
IS THAT ...VINYL SIDING I SPY....HOW COULD THAT BE????? BTW....194k?? I'M thinking of listing my bridge for sale..any takers?
Um, you guys, you know the real estate market in this area is HOT! and people are moving back to the city "Believe it or Not" and yes, people are moving into areas beyond Elmwood to call home. So, with this updated home, I don't see how the price sounds so crazy.
I paid 28,000 for the house I have been living in - a double - in comfortable, livable condition & big yard - located less than 2 blocks from these 6 years ago. Not sure how to feel about this. A mix of embarrassed (not for myself) and jovial for the apparent current value of my home if I wanted to sell.
This is basically a new house with all the modern conveniences and no maintenance needed. I am supposing yours is not.
This is basically a new house with all the modern conveniences and no maintenance needed. I am supposing yours is not.
It's nice but 'No Maintenance' doesn't seem accurate, and 1 bedroom..eek.
Good luck selling it tho (not sarcastic)
Marketing 101. I doubt seriously that they expect they'll actually get $194k for this place. Nobody who lists their house thinks they're going to get the full asking price because it's customary for buyers to make an offer for less than the list price. In this case, they might be overdoing but that might be part of a good strategy. If they listed it for, say, $120K, they might only end up getting $100k for it. If they go big, they might get lucky and walk away with an offer for more like $150K, which is still more than what many would expect for this neighborhood. Don't forget that somebody paid something like $185K for a house on Virginia and Trinity a few years ago, and that edge of Allentown is still on the fringe as well. Best of luck with this one!
Regardless of the price what a beautiful renovation/restore, 1 more down ?? to go...
Jeff- Wish you would have done this in Black Rock, the Amherst/Niagara area is starting to be recognized as a truly historic neighborhood and a project like this would been more visible and made more of an impact.
Jeff is a former VP and Treasurer and current Emeritus/advisor for the Central Terminal Restoration Corporation and is a MASTER craftsman. Congratulations on a beautiful job, Jeff!
before I would have been shocked when people would find something to complain about regarding development in our city...now it's the status quo.
congrats to all those involved with this project. the city needs more of you.
This is great news! The Buffalo - Niagara area missed the boat on the housing boom of 2002 - 2008, we missed out on real property flipping for profit, and we missed out on profiteering from real estate investment. This may be a good sign that our area real estate market can provide a major return on investment on properties like this. It gives hope for some of our other derelict properties in Buffalo.
I think that this house might sell at or around the price offered, and that would be a great thing for Jeff, who can then reinvest in another property or properties, and for the new homeowners.
Good luck with this and future endeavors.
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