Ed Nice Explores Real Estate Myths as Buffalo’s Market Remains Red Hot

One of the biggest ways to generate wealth is through real estate; however, it's also one of the ways you can really lose wealth if you aren't in a position to maintain that property.

It happens to the best of us. Sometimes, you just end up with some property that isn't working for you or your lifestyle.

As a real estate agent and rental property owner, I've seen both sides of the coin. Knowing what's happening in the local real estate market is more important than ever in 2025, especially as Buffalo continues to lead the nation's housing market.

On the national level, we hear a lot about corporations and institutional investors buying large swaths of real estate as both housing prices and rents skyrocket. My friends at Buffalo Brick & Mortar agree with me that this really isn't the case. They shared these statistics:

• Individuals own roughly 90 percent of single-family homes — and here, in Western New York, families own and occupy the vast majority of homes.
• Corporate ownership of single-family rental homes dropped to about 10 percent in 2024 after a high in 2014 near 11.5 percent.

Single-family home prices in our area are driven by many factors, including low housing supply, high demand, inflation, labor shortages, rising material costs, and investor activity. Sure, when a smaller real estate investment firm like Buffalo Brick & Mortar buys a home in disrepair, fixes it, and sells it for a profit, that often increases the home values around it.

What does that mean for you? If you're uncomfortable with a home you own, you have to weigh your feelings on the advantages of selling it or keeping it. Be sure to factor in property taxes, repair costs, mortgage interest, and the time you can dedicate to it. Perhaps you inherited the property or are facing divorce, so you'd like to sell it quickly without interviewing real estate agents, preparing the home for market, and waiting for buyers to secure financing.

If your home is a good fit, Buffalo Brick & Mortar will make you a cash offer for the home in its current condition and will let you pick the closing date — no fees, no repairs, no real estate agents. They're even willing to clear it out for you. For some property owners, this is their best possible outcome.

Buffalo continues to be a leader in America, and now is the time to make sure you're taking advantage of it. To see if Buffalo Brick & Mortar can help you, visit buffalobrickandmortar.com or call 716-403-2016.