Page 1 of 12 12311 ... LastLast
Results 1 to 15 of 166

Thread: Horizons Home Show

  1. #1
    Member LaNdReW's Avatar
    Join Date
    May 2005
    Location
    South of De-gi-yah-goh's place.
    Posts
    1,116

    Horizons Home Show

    Hit the Horizons Homeshow this weekend...

    Boy, for an area thats dying, there were lots of people there looking at houses that were 400k plus.

    Someone, please tell me where all these people work that can afford expensive houses, taxes, and cars. I'm sure they don't work for the local/state/fed government.
    "When fascism comes to America it will be wrapped in the flag and carrying a cross." - Sinclair Lewis (1935)

  2. #2
    Tony Fracasso - Admin
    Join Date
    May 2003
    Location
    Buffalo, New York, United States
    Posts
    64,948
    I was wondering the same thing myself. People do seem to be buying some expensive stuff for an area which is depressed. I guess it must be all these government workers we have cops included making $70,000 or more a year buying these.

  3. #3
    Member
    Join Date
    May 2005
    Location
    Elma
    Posts
    1,465

    Re: Horizons Home Show

    Originally posted by LaNdReW
    Hit the Horizons Homeshow this weekend...

    Boy, for an area thats dying, there were lots of people there looking at houses that were 400k plus.

    Someone, please tell me where all these people work that can afford expensive houses, taxes, and cars. I'm sure they don't work for the local/state/fed government.
    I did a report on economic sociology in WNY a couple of years ago.
    It was inspired by the "where do these people work?" question. Most of the data was gathered using local assessment sites, superpages, and friends I knew in each area...

    You would be very surprised how many private businesses there are in the area. You don't really realize the actual number until you start prying. You also need to take into consideration that we have a lot of private practice physicians in specialty and surgical practices. Lawyers, Insurance people, professors, inventors, etc.

    You also need to factor in places like UB, M&T, First Niagara, Jamestown SB, etc.

    Take a look at the real estate transactions and google the names some day... its pretty interesting.

  4. #4
    Member
    Join Date
    May 2005
    Location
    Elma
    Posts
    1,465
    Originally posted by WNYresident
    I was wondering the same thing myself. People do seem to be buying some expensive stuff for an area which is depressed. I guess it must be all these government workers we have cops included making $70,000 or more a year buying these.

    You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...

    public information gathered from the internet:


    james conley, heart surgeon:
    http://www.amherst.ny.us/govt/assess...91800008008100

    james culligan, culligan auto place:
    http://www.amherst.ny.us/govt/assess...91800008003110

    paul candino, prism health
    http://www.erie.gov/clarence/assessm...91600002012000

    jim tou, MTI
    http://www.erie.gov/clarence/assessm...91600001009111

    cant remember name, owner brand names:
    http://www.amherst.ny.us/govt/assess...61200006065000

    gerald lauria, pediatrician:
    http://www.americaschoice.com/displa...k&nls_num=5283

    bansi kaul, pediatrician
    http://www.amherst.ny.us/govt/assess...20400003002000

    Kent Frey (frey electric) and Laurie Lisowski, newswoman:
    http://www.amherst.ny.us/govt/assess...61100006001000

    leonard lovullo, the insurance guy:
    http://www.amherst.ny.us/govt/assess...51100001008000

    we went to the horizons home show in 2001 and fell in love with a house that ended up selling for $325,000 to a CMO of children's hospital...it ended up selling last year for $490,000....

    http://www.amherst.ny.us/govt/assess...61600001041000


    this house belonged to the late john moslow, whose company made humidors and trophy bases...the house sold last year for $850,000. check out howmuch they are asking for it now...pretty nice profit, if that's what they get...90 acres:

    http://rusabuffalo.leadmaxx.lantrax....TOKEN=36236466


    Paul Bloom, developer:
    http://www.erie.gov/clarence/assessm...10800001020100

    Inkee Min, nephrologist:
    http://www.erie.gov/clarence/assessm...10800001018000


    and THIS one REALLY pisses me off:

    Roderick Hennings, PASTOR -- http://www.cogicyouth.com/about/henningsbio.asp
    http://www.amherst.ny.us/govt/assess...91600005003000
    Last edited by ERIEMAN; July 11th, 2005 at 05:29 PM.

  5. #5
    Member
    Join Date
    Oct 2003
    Posts
    2,184
    Originally posted by WNYresident
    I guess it must be all these government workers we have cops included making $70,000 or more a year buying these.

    Originally posted by ERIEMAN
    You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...
    Of course if the cops wife is an RN making 60K herself per anum then maybe with their combined $130,000...ya know.

    I think that's part of it, dual incomes.
    The difference between taxes and robbery is the mode of coercion.

  6. #6
    Tony Fracasso - Admin
    Join Date
    May 2003
    Location
    Buffalo, New York, United States
    Posts
    64,948
    You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...
    Why not? You take out a 30 year mortage and it's like 13,000 a year plus interest.

  7. #7
    Member LaNdReW's Avatar
    Join Date
    May 2005
    Location
    South of De-gi-yah-goh's place.
    Posts
    1,116

    Max

    Aggressive estimate at www.mandt.com

    70k a year gross income
    10k a year taxes
    6% 30 year mtg

    $11,500 down, max loan amount is $230,144.00 ($2041/mo)

    $71,500 down, max loan amount is $357,703.00 ($2624/mo)

    No car payments or insurance included.

    Then, there are silly things like income/payroll tax, food and stuff like that.
    "When fascism comes to America it will be wrapped in the flag and carrying a cross." - Sinclair Lewis (1935)

  8. #8
    Member LaNdReW's Avatar
    Join Date
    May 2005
    Location
    South of De-gi-yah-goh's place.
    Posts
    1,116

    now I know

    Originally posted by ERIEMAN
    You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...

    public information gathered from the internet:


    james conley, heart surgeon:
    http://www.amherst.ny.us/govt/assess...91800008008100

    james culligan, culligan auto place:
    http://www.amherst.ny.us/govt/assess...91800008003110

    paul candino, prism health
    http://www.erie.gov/clarence/assessm...91600002012000

    jim tou, MTI
    http://www.erie.gov/clarence/assessm...91600001009111

    cant remember name, owner brand names:
    http://www.amherst.ny.us/govt/assess...61200006065000

    gerald lauria, pediatrician:
    http://www.americaschoice.com/displa...k&nls_num=5283

    bansi kaul, pediatrician
    http://www.amherst.ny.us/govt/assess...20400003002000

    Kent Frey (frey electric) and Laurie Lisowski, newswoman:
    http://www.amherst.ny.us/govt/assess...61100006001000

    leonard lovullo, the insurance guy:
    http://www.amherst.ny.us/govt/assess...51100001008000

    we went to the horizons home show in 2001 and fell in love with a house that ended up selling for $325,000 to a CMO of children's hospital...it ended up selling last year for $490,000....

    http://www.amherst.ny.us/govt/assess...61600001041000


    this house belonged to the late john moslow, whose company made humidors and trophy bases...the house sold last year for $850,000. check out howmuch they are asking for it now...pretty nice profit, if that's what they get...90 acres:

    http://rusabuffalo.leadmaxx.lantrax....TOKEN=36236466


    Paul Bloom, developer:
    http://www.erie.gov/clarence/assessm...10800001020100

    Inkee Min, nephrologist:
    http://www.erie.gov/clarence/assessm...10800001018000


    and THIS one REALLY pisses me off:

    Roderick Hennings, PASTOR -- http://www.cogicyouth.com/about/henningsbio.asp
    http://www.amherst.ny.us/govt/assess...91600005003000
    \




    Nice post, now I know where amherst spends all their tax money.
    (well that website and sewage sludge pellets)
    "When fascism comes to America it will be wrapped in the flag and carrying a cross." - Sinclair Lewis (1935)

  9. #9
    Member Linda_D's Avatar
    Join Date
    Jan 2005
    Location
    God's Own Country ... the Southern Tier
    Posts
    8,222
    Here's what kind of income it takes to buy a 400,000+ home:

    1. Price:$ 409,900 single family home, detached, on 1/2 acre lot in the suburbs. (I chose a real home because www.realtor.com does the mortgage calc for you!).

    2. Down payment: $81,980 (20%). Interest rate: 5.3421%. 30 year conventional mortgage. Monthly mortgage payment is $ 1,830.

    3. This home didn't show the annual taxes. I figured $3000 for each $100,000 or $12,000 a year or $1,000 a month.

    4. I figured the insurance as $600 annually so it works out to $50 a month.

    5. Mortgage + taxes + insurance = $1830 + $1000 + 50 = $2880.

    6. Mortgage lenders want total of all debt (mortgage + other) to equal no more than about 35% and mortgage to be no more than 28-30% of total monthly income.

    7. Assuming no other debt or minimal debt, it would take a monthly income of $9600 a month or $115,200 annually. If you have more installment debt, then you have a higher income.
    Your right to buy a military weapon without hindrance, delay or training cannot trump Daniel Barden’s right to see his eighth birthday. -- Jim Himes

  10. #10
    Member
    Join Date
    Feb 2005
    Posts
    1,586
    WNY is far from broke. People confuse the lack of working capital in our local government with the actual wealth of the residents.

    This country is wealthy, even in WNY.

    If the residents treated their businesses like our politicians treated theirs, we'd all be broke.

  11. #11
    Member Trolls_r_us's Avatar
    Join Date
    Feb 2005
    Location
    Somewhere out there....
    Posts
    1,436
    I love how some people are actually AMAZED that everyone in WNY is NOT broke....

    Funny how the "news" can distort people's views of reality
    The truth from a troll is still the truth.

  12. #12
    Tony Fracasso - Admin
    Join Date
    May 2003
    Location
    Buffalo, New York, United States
    Posts
    64,948

    Re: Max

    Originally posted by LaNdReW
    Aggressive estimate at www.mandt.com

    70k a year gross income
    10k a year taxes
    6% 30 year mtg

    $11,500 down, max loan amount is $230,144.00 ($2041/mo)

    $71,500 down, max loan amount is $357,703.00 ($2624/mo)

    No car payments or insurance included.

    Then, there are silly things like income/payroll tax, food and stuff like that.

    Yes but if thier partner also works for us in some other department making $50,000 to $60,000 a year they can. I know in our town a lot of family seems to work

  13. #13
    Member
    Join Date
    Oct 2003
    Posts
    2,184
    Originally posted by Trolls_r_us
    I love how some people are actually AMAZED that everyone in WNY is NOT broke....

    Funny how the "news" can distort people's views of reality
    There's a big difference between "broke" and "$400,000" houses.

    What's the median annual household income in Buffalo? Erie county? Probably closer to broke then having a mortgage on a $400,000 house.
    The difference between taxes and robbery is the mode of coercion.

  14. #14
    Member
    Join Date
    May 2005
    Location
    Elma
    Posts
    1,465

    Re: Re: Max

    Originally posted by WNYresident
    Yes but if thier partner also works for us in some other department making $50,000 to $60,000 a year they can. I know in our town a lot of family seems to work
    I think a common misconception is that a family making $110,000 per year is "a lot" of money. Really, it isn't enough to put a family into the bracket that it would take to responsibly afford such a house in WNY. Most families making around that much live in a "nice" home - the $200K to $250K range, and the rest goes into investments and savings. Lets take Roger Kaiser for example...this is his house, assessed at $600,000:

    http://www.erie.gov/clarence/assessm...10700001083000

    he makes $312,000 per year. His wife makes $137,000 from the hospital ALONE. Thats $449,000 per year at a minimum.

    There are a couple of interesting ones in my list though...one of those is Gerald Lauria, who is a partner/pediatrician at WNY peds. The typical salary for a pediatrician in this area is about $120,000 to $150/$160,000 - more if you specialize. His house:

    http://rusabuffalo.leadmaxx.lantrax....TOKEN=36236466

    arguably one of the nicest in all of WNY due to the best plot of land i have seen. Nicer than the Lewiston Escarpment.

    also, do a search for lawyers on superpages.com. I believe that there are about as many lawyers as there are doctors in the area.

  15. #15
    Member
    Join Date
    Dec 2003
    Posts
    17,449
    Excellent post, erieman.

    Originally posted by ERIEMAN
    You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...

    public information gathered from the internet:

    cant remember name, owner brand names:
    http://www.amherst.ny.us/govt/assess...61200006065000
    The one you forgot is George and Marguerite Hambleton. (sp?) She's the head of AAA. He owns (owned?) a business, but I can't remember which.

Page 1 of 12 12311 ... LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •