So how much has Marrone shell out for his house in Buffalo?

[ghz in pittsburgh]

His old one in Syracuse is going to ~1.2 million. http://www.syracuse.com/orangefootba...lle_house.html

There is link inside the article to the house pictures.

I know Marrone is from NYC. You can't buy much with 1.2 mil there. Coming to Buffalo, I'd think he'll get an upgrade on his Syracuse house. Not sure if it have a Bills logo somewhere in the house though.

[trapezeus]

Re: So how much has Marrone shell out for his house in Buffalo?

maybe he's buy ryan miller's town house.

[THRILLHO]

Re: So how much has Marrone shell out for his house in Buffalo?

"Sometimes you buy a house. Whoops."
-J.P. Losman

[OpIv37]

Re: So how much has Marrone shell out for his house in Buffalo?

yeah, anyone associated with this team not named Russ Brandon would be smart to rent rather than buy.

[BertSquirtgum]

Re: So how much has Marrone shell out for his house in Buffalo?

yeah, anyone associated with this team not named Russ Brandon would be smart to rent rather than buy.

Why? He's got at least three years.

[OpIv37]

Re: So how much has Marrone shell out for his house in Buffalo?

Why? He's got at least three years.

Houses in Buffalo aren't going to appreciate enough for him to make much money off of it in 3 years. Just rent and let someone else have the responsibility for the maintenance.

[Lexwhat]

Re: So how much has Marrone shell out for his house in Buffalo?

Houses in Buffalo aren't going to appreciate enough for him to make much money off of it in 3 years. Just rent and let someone else have the responsibility for the maintenance.

I saw the real estate link -- he's selling the house for $1.39 million (unlike the article link which said $1.19 million). He bought the house for $485,000 4 years ago...

I would be shocked if someone paid his asking price for that house -- I saw the stats and it is not even worth $1 million in the Syracuse area. I hope he doesn't mis-calculate his opponents as badly as he does his house, haha.

[TigerJ]

Re: So how much has Marrone shell out for his house in Buffalo?

The rule of thumb is you should keep a house you've purchased for five years minimum to avoid taking a loss when you sell. Of course, when the housing market takes a dive insted of going up, all bets are off.

[OpIv37]

Re: So how much has Marrone shell out for his house in Buffalo?

The rule of thumb is you should keep a house you've purchased for five years minimum to avoid taking a loss when you sell. Of course, when the housing market takes a dive insted of going up, all bets are off.

So then it comes down to this: what's the rental market like in Buffalo? If he doesn't make it past 3 years, will he be able to rent it for 2 in order to hit that 5 year break even/become profitable point?

I know in Rochester, there isn't much of a rental market (outside of some trendy areas downtown) because property is so cheap that anyone with a moderate income can buy a small place. I always assumed Buffalo was the same way.

[GingerP]

Re: So how much has Marrone shell out for his house in Buffalo?

Why? He's got at least three years.

Tell that to Mike Mularkey.

[trapezeus]

Re: So how much has Marrone shell out for his house in Buffalo?

my parents live on the same street as Eric Moulds. Moulds has been trying to sell that house for like 2 years. maybe he can slide over to OBD and see if he's interested.

But seeing that you can get a really nice place for like $1M in buffalo, why not take a big mortgage, get the interest rebate, and know that if it doesn't pan out, you still are going to get income guaranteed at like $3MM-$6MM a year for 4-5 years. HE could literally save the money from one year of working and pay off the mortgage if he lost his job that year. and still eat, etc.

renting would be a sucker's move.

[OpIv37]

Re: So how much has Marrone shell out for his house in Buffalo?

ah yeah, I was neglecting the tax break angle on the mortgage interest. If there is anywhere where people need all the tax breaks they can get, it's NYS.

[trapezeus]

Re: So how much has Marrone shell out for his house in Buffalo?

and again, it goes back to the ryan miller situation, if you can pay down your house in its entirety in one year just so you don't have to pay interest and you want to own it to take advantage of any appreciation, there is just no point in renting.

yes, sales suck and take time, but you are already off to your next town and have the luxury of not needing to sell the last place.

look at that syracuse place. he lists it ridiculously high, people come to open house, they threaten that people are interested and someone offers $1MM (happy he's not offering asking, but attempting to beat others). marrone pockets a cool $600k in profit and the buyer is happy he got his place.

[Jeff1220]

Re: So how much has Marrone shell out for his house in Buffalo?

I saw the real estate link -- he's selling the house for $1.39 million (unlike the article link which said $1.19 million). He bought the house for $485,000 4 years ago...

I would be shocked if someone paid his asking price for that house -- I saw the stats and it is not even worth $1 million in the Syracuse area. I hope he doesn't mis-calculate his opponents as badly as he does his house, haha.

If you look at the pictures, there are obvious additions on the house, around the size of the original structure (maybe bigger). I'm guessing he had those put on, hence the jump in price from $485k to >$1million.

[IlluminatusUIUC]

Re: So how much has Marrone shell out for his house in Buffalo?

and again, it goes back to the ryan miller situation, if you can pay down your house in its entirety in one year just so you don't have to pay interest and you want to own it to take advantage of any appreciation, there is just no point in renting.

yes, sales suck and take time, but you are already off to your next town and have the luxury of not needing to sell the last place.

look at that syracuse place. he lists it ridiculously high, people come to open house, they threaten that people are interested and someone offers $1MM (happy he's not offering asking, but attempting to beat others). marrone pockets a cool $600k in profit and the buyer is happy he got his place.

I suppose so, but are there a ton of buyers for million dollar homes in Syracuse?