Congrats! That's a nice return.
Good point.
I'll be the first to say that there will be pockets of Buffalo (or any city) that will appreciate despite the larger metro as a whole not seeing appreciation.
You know the city better than I, but I feel we can both agree that Elmwood is one of the nicer areas of town and as a result can expect appreciation.
My point to the original post is that metro Buffalo, on average, will show less appreciation compared to say Charlotte,NC (I just picked a random city that's been growing).
Since 2000
Buffalos population has declined 20%
Charlottes population has increased 70%
Asides from capital improvements demand is the biggest factor in appreciation and if there's more folks to fuel that demand then you can expect more appreciation.
Originally posted by
@Matthew Irish-Jones:
@Eric Delcol I bought a property in the Elmwood village in 2011, it is not worth over $300,000. I have had to do some up keep to the property but, in general I have made no major improvements and the property has more than doubled.
The South, North, Elmwood Village and even the West side have seen major appreciation in the last 7-9 years.
I think you are mistaken on the appreciation factor.
