ATTENTION: Anybody who cares about the West Side

Last week a neighboring house (213 W. Ferry) to Mayoral Aide Peter Savage, assessed $43,300 (reduced from $56,300) sold in foreclosure for $11,000. That is a mere 26% of the just-reduced assessment, which was recently dropped $13,000. Savage&Mac226;s well-maintained house is assessed $41,300 (207 W. Ferry, reduced from $47,800).

As once again shown by last week&Mac226;s sales, the West Side is being massively dis-invested. The average West Side sale under $50,000 was again 24% of GAR Associates&Mac226; new assessed values, a pattern of over-assessment coupled with plummeting values seen in each list of weekly sales.

The Niagara District has fallen to bottom in home ownership at 22% as the city&Mac226;s already low rate of ownership fell from 39% to 37%. But there is no plan to stabilize falling values, or to increase home ownership.

Indeed the opposite is true. The city is building the mostly costly apartments for the poor in history, which will further reduce Buffalo&Mac226;s plummeting tax base. BMHA&Mac226;s HOPE VI project will cost $105 million to demolish 666 apartments at recently remodeled Lakeview Homes (remodeled over a decade for $17 million). HOPE VI will build new, much less sturdy rental units, in a neighborhood having one of the lowest home ownership rates in the city, costing as much as $1/4 million each.

And, in a city with 24,000 vacancies, the Mayor approved another $625,000 subsidy for 10 Œnewbuild&Mac226; houses in Masten District, which lost 773 home owners since 1990, as newbuilds routinely sell below half price in foreclosure.

BMHA, which houses the permanently poor at incredible cost, will spend $82 million next year to house less than 10% of Buffalo&Mac226;s poor. In a very poor city with 24,000 housing vacancies & a falling rate of home ownership it is questionable why we have a MUNICIPAL Housing Authority at all. The obvious need is to share Buffalo&Mac226;s concentrated poverty with the suburbs, the most effective way of helping the poor move out of poverty. County take-over of a METROPOLITAN Housing Authority would make much greater sense.

NOTICE: A PUBLIC HEARING on BMHA&Mac226;s 1 & 5 year plans will be held at 10AM, Wednesday April 3 at BHMA offices, 300 Perry St. A box of BMHA documents (showing their $82 million budget next year) is available for review in the downtown library & at 300 Perry St.

MORE CITIZENS NEED TO WATCH BMHA&Mac226;s COSTLY, FAILED ŒFEDERAL PLANTATION&Mac226; & ŒPOVERTY INDUSTRY&Mac226;.
Richard Kern, MSW, Feb. 25, 2002
Email: HYPERLINK mailto:Kernwatch@aol.com Kernwatch@aol.com Website: HYPERLINK http://www.Kernwatch.com www.Kernwatch.com

Buffalo Real Estate Transactions, February 11 - 15, 2002 Housing WatchFeb23

West Side Transactions, Zip, Seller, Buyer, Date, Sale Pr., Assess. Val., SP / AV (%)
V56 BOYD 13,CITY OF BUF,DUBAISHI,HUSSEIN ,02/11/2, $300,CTYINREM35 SER1413,AV$3.3-$4K,Vac.Lot 9%
135 BIRD 13,CITY OF BUF,WILLIAMS,JAMES ,02/14/2, $3400,CTY IN REM35 CER1410,AV$26.5-$35.4K, 13%
72 HAWLEY 13,CITY OF BUF,CUSTODI,PATRICIA ,02/13/2, $5500,CTY IN REM35 SER1459,AV$25-$30.7K, 22%
101 HAWLEY 13,CITY/BUF,CUSTODI,PATRICIA ,02/12/2, $5500,CTYINREM35SER1457,AV$32-44.7K, 17%
29 MARINER 01,CITY/BUF,CORNERSTONE ASSOC INC,2/11/2,$6000,CTY IN REM35 SER267,AV$26.9-$44K, 22%
22 S PUTNAM 22,JJC PROPERTIES LLC,ANDUJAR,EVA,02/14/2,$6500,CTY S26 C203,AV$35-$41K, 19%
445 W FERRY 13,BUF HOME EQUITY LIV PLANS,SAMAD,BIBI,2/13,$10500,CTY 188-189,AV$40-$50K, 26%
213 W FERRY 13,STATE/NY MORTG,LITTLETON CONSTRUCT LTD,2/15,$11000,CTY FER,AV$43.3-$56.6K, 25%
77 CALIFORNIA 13,ERNST,DAVE,PALMA,JOSE,P,CARMEN,2/13/2,$14500,CTY CAL,$32-$23K, 45%
355 ASHLAND 22,SIPOS,DAVID,SIPOS,PHILIP,TERRY-S,RUTH,2/11,$40000,CTY 59 11/8,AV$95K-Same, 42%
125 EDWARD 01,FIGURA,DOUGLAS,HARVEY,FRANK,2/12/2 $47400,CTY U4D,AV$26-28.2(Condo,reduc.assess)NA
508 NORWOOD 17,OHAIRE,JAMES,MEADOWS,GREG,DILLMAN,JANICE,2/13,$126100,CTY 115,AV$81-$94.7K, 156%
*8 MARINA PARK S 02,ALMINATE,OMAR,DORAZIO,PAUL ,02/11, $180000,3P CTY U8,AV$160-$171K, 113%
West Side TOTALS: 13 Transactions; 7Distressed (54%); {*}Only one sale assessed „accurately‰ (85% to 115% of sale pr.)
Under-$50,000 sales (Total: 10) averaged 24% of new GAR assessed values
Vacant lot (56 Boyd) sold at 9% of assessed Value. Virtually worthless vacant lots are massively over-assessed (11,000 citywide)
In contrast, over -$50,000 sales (Total: 2) averaged 135% of assessed value, showing a consistent pattern each week . . .
Low end Housing is massively OVER-assessed as owners lose life savings in their homes; High end Housing is Under-assessed

Distressed & Under $5000 Transactions (Tot: 44, not in Buf. News), Zip, Seller, Buyer, Date, Sale Pr.

25 PHILADELPHIA 07,M&T MORTG,HUD,02/13/2, $10,CTY 11 S29 C273
439 GLENWOOD 08,CITY/BUFFALO,GRAY,LORENZO,2/12/2, $300,CTY IN REM35 SER928
90 KOONS 12,CITY OF BUF,415 MAIN ST LLC,2/14/2, $300,CTY IN REM35 SER2838
1407 MICHIGAN 09,CITY OF BUF,415 MAIN ST LLC ,2/14/2,$500,CTY IN REM35 SER1326
1151 SENECA 10,CITY OF BUF,WESLE,PHYLLIS,02/12/2, $500,CTY IN REM35 SER3080
376 MAY 11,CITY OF BUF,415 MAIN ST LLC ,02/14/2, $800,CTY IN REM35 SER2501
372 KOONS 11,CITY OF BUF,415 MAIN ST LLC ,02/14/2, $800,CTY IN REM35 SER2489
617 GOODYEAR 11,CITY OF BUF,415 MAIN ST LLC ,02/14/2,$1000,CTY IN REM35 SER2451
24 ROEBLING 15,SEC/HUD,KING ,ALLEN,02/11/2, $1000,CTY 44 11/7S132PS133 C519
48 WOEPPEL 11,CITY OF BUF,BALDWIN ,DERJUAN,02/11/2, $1000,CTY IN REM35 SER1203
311 BISSELL 11,CITY OF BUF,415 MAIN ST LLC,2/14/2, $1000,CTY IN REM35 SER2341
173 PADEREWSKI 12,CITY OF BUF,415 MAIN ST LLC,2/13/2,$1000,CTY IN REM35 SER794
102 COIT 06,CITY OF BUF,415 MAIN ST LLC ,02/14/2, $1000,CTY IN REM35 SER718
1009 SMITH 12,CITY OF BUF,BARKER,OLANDER,02/11/2, $1000,CTY IN REM34 SER940
123 SEARS 12,KRYGIER,STANLEY,ORILEY,JOYCE,02/12/2, $1000,CTY 19 11/8 S46
269 FOX 11,CITY OF BUF,415 MAIN ST LLC ,02/14/2, $1200.00,CTY IN REM35 SER501
284 BRINKMAN 11,CITY OF BUF,CORNERSTONE ASSOC ,02/11/2,$1500,CTY IN REM35 SER2610
291 CHELSEA 15,CITY OF BUF,MCDADE,CARLEAN,M,CURTIS,2/11,$1500,CTY IN REM35 SER2088
801 E DELAVAN 21,CITY/BUF,2ND TEMPLE BAPTIST CH,2/13,$1500,CTY IN REM35 SER2398
214 TIMON 08,CITY/BUF,PRESSLEY,WALTER,P,JOYCE,02/13, $1500,CTY IN REM35 SER993
220 JOHNSON 11,CITY OF BUF,SHERFIELD,LLA ,02/12/2, $1500,CTY IN REM35 SER546
55 PERSHING 11,CITY/BUF,PRIORITY INVESTMENTS LP,2/11,$1500,CTY IN REM35 SER582
142 BRINKMAN 11,CITY OF BUF,CORNERSTONE ASSOC,2/11/2,$2000,CTY IN REM35 SER2609
366 BISSELL 11,CITY OF BUF,415 MAIN ST LLC,02/14/2, $2000,CTY IN REM35 SER2348
44 EATON 09,CITY OF BUF,JOHNSON ,TRIESTEN,02/11/2, $2000,CTY IN REM35 SER1274
254 LEROY 14,CITY OF BUF,415 MAIN ST LLC ,02/13/2, $2000,CTY IN REM35 SER1932
400 TONAWANDA 07,CITY OF BUF,415 MAIN ST LLC,2/14/2, $2100,CTY IN REM35 SER1638
227 JEWETT 14,CITY OF BUF,TURNER,RHONDA,02/13/2, $2300,CTY IN REM35 SER1918
662 E UTICA 11,CITY OF BUF,JETT,LACHRISA,02/13/2, $2500,CTY IN REM35 SER1183
36 GIBSON 06,CITY OF BUF,CLARK,MICHAEL,02/11/2, $2600,CTY IN REM35 SER743
83 REED 12,CITY OF BUF,MCALISTER ,CLAUDETTE,02/11/2, $2700,CTY IN REM35 SER588
131 SPRUCE 02,WALKER,GEO,WALKER ,GEO,JONES,MIAMI,2/11,$2832,CTY 128
42 BOGARDUS 06,CITY OF BUF,VERSATILE ENTERPRISES,2/13,$3000,CTY IN REM35 SER2962
1790 BAILEY 11,CITY OF BUF,415 MAIN ST LLC ,02/14/2, $3000,CTY IN REM35 SER2746
387 NORTHAMPTON 08,CITY OF BUF,PATTERSON,ANNIE,02/14,$3500,CTY IN REM35 SER968
428 TONAWANDA 07,CITY/BUF,VERSATILE ENTERPRISES,2/11/2,$3600,CTY IN REM 35 SER1639
69 ROSE 04,CITY OF BUF,LIPSCOMB ,WILLIE,02/13/2, $4000,CTY IN REM35 SER438
1117 TONAWANDA 07,CITY/BUF,VERSATILE ENTERPRISES,2/13,$4500,CTY IN REM35 SER1630
700 NORTHUMBERLAND 11,CITY OF BUF,HALL ,RON,02/12/2, $4600,CTY IN REM35 SER2248
432 WYOMING 15,CITY OF BUF,MCDUFFIE,CHERITA ,02/12/2,$4600,CTYINREM35 SER2321
244 WOLTZ 11,MAZURSKI,HENRY,MAP PROPERTIES LLC,2/12/2,$4750,CTY5 11/8S70L5C236
78 SWEET 12,OLEJNICZAK,LUCY,O ,TIM ,BLADY,DEB,02/11/2,$5000,CTY 2 11/8 S26

Other Distressed Transactions, Zip, Seller, Buyer, Date, Sale Pr.

2094 NIAGARA 07,CITY OF BUF,VERSATILE ENTERPRISES,2/13,$6500,CTY IN REM35 SER1605
985 WALDEN 11,CITY OF BUF,CORNERSTONE ASSOCIATES,2/12,$6600,CTY IN REM35 SER3021
94 EAST 07,CITY OF BUF,WEITZEL,ANGELA,02/12/2, $7000,CTY IN REM35 SER1563
136 REIMAN 06,CITY OF BUF,SCHROEDER,CAROL,02/13/2, $7000,CTY IN REM35 SER3010
31 HEWITT 16,CITY OF BUF,CORNERSTONE ASSOCIATES,2/12/2,$7000,CTY IN REM35 SER1901
PAGE 2; Buffalo Real Estate Transactions, February 11 - 15, 2002 Housing WatchFeb23
Other Distressed Transactions, cont.
21 ZELMER 18,FED NAT MORTG,GAMBINO,TOM,PIOTROWSKI,RON,2/15,$7250,CTY 43 10/7 S27 C637
147 WECKER 15,CITY OF BUF,KING,ALLEN,02/12/2, $7500,CTY IN REM35 SER2717
317 HEWITT 15,CITY OF BUF,VERSATILE ENTERPRISES,02/13/2,$7500,CTY IN REM35 SER2176
21 S RYAN 10,CITY OF BUFF,CORNERSTONE ASSOCIATES,2/12/2,$7500,CTY IN REM35 SER3272
228 MAY 11,SEC/HUD,JAMES ,WILLIAM,02/11/2, $7600,CTY 51 11/7 S24 C355
28 DURHAM 15,CITY OF BUF,MCDUFFIE,CHERITA,02/12/2, $9000,CTY IN REM35 SER2138
61 MAYER 07,BENEFIC HOMEOWNER SERV,GUTSU,ANATOLIY,G,ALLA,2/15/2,$12000,CTY 38 L23 C397
32 MIDVALE 15,CITY OF BUF,CORNERSTONE ASSOCIATES,2/11/2,$15000,CTY IN REM35 SER2222
29 HEDLEY 08,CITY OF BUF,PATRONAGGIO VINCENT,02/11/2,$19000,CTY IN REM35 SER1739
421 ABBOTT 20,SEC/HUD,ADAMS,BART,02/15/2, $19610,CTY 253 10/7
194 HOWELL 07,GLASGOW,SANDRA,BANK 1-1ST NAT BANK/CHIC,2/14/2,$34810.58,CTY 253
92 WHEELOCK 06,AYALA,RAY,SECRETARY/VA,02/13/2, $37015,CTY 161 10/7 S34 C257
326 BEDFORD 16,CITY/BUF,LOCKWOOD,JOE,LABENSKI,FRED,2/13,$45000,CTYINREM35 SER1709
264 MINNESOTA 15,SECR/VA,WILLIAMS ,JAMES,02/15/2, $50000,CTY 55 11/7 S39
143 FREUND 15,BETHEA,TINA ,02/11/2, $54174.60,CTY 44 11/7 S216 C453
107 FISHER 15,HARRIS,NATHAN, HUD,02/11/2, $68338.62,CTY 44 11/7 S148 C453
135 NORTH RYAN 10,SZAFNICKI,MARK, HUD,2/12/2, $74495.36,CTY 9 10/7 S13 C297
117 HAZELWOOD 15,COOK,DORIS,HUD,2/14/2, $83439.28,CTY 44 11/7 PS81-84 C622

Investor & Housing Agency Transactions (underlined names on pages 1&2 are other known investors)

879 NORTHAMPTON 11,NY LIBERTY HOMES,HENLEY,JAMES,02/12/2,$15000,CTY611/8S37C234Mult res, AV$4K (pd $2400,6/01)
20 ALBERT 07,BLACK ROCK-RIVERSIDE NEIGH HOUS,LEWIS,ANA,02/15/2,$38000,CTY35 S40C397$7K,1/01
49 COURTLAND 15,TAYLOR MADE HOMES,MOOTRY,JEROME,M,CRASANDRA,2/14,$54000,CTY4411/7PS25-26C629,pd $7000,1/01

Citywide Non-distressed Transactions

343 HERMAN 11,HILL,JAMES,SCOTT,CLIFFORD,02/12/2, $6000,CTY 21 11/8
254 KEYSTONE 11,KRZOS,SHIRLEY,HENNIGAN,WALT,KJH ENTERPR,2/13,$7000,CTY 42 11/7 S14 C282
44-8 LASALLE 14,SHAW,MARY,STEWARD,ALTON,02/13/2, $7000,2P CTY 11/8
65 SWINBURNE 12,WESOLOWSKI,DOLORES,DAYE-BARRETT,MARVA,2/13,$7500,CTY 50 11/7 S24 C428
940 CLINTON 10,LOMMER,GEO,LANGIEWICZ,JOSEPH,02/12/2, $7500,CTY 13 11/8
150 SEYMOUR 10,MACIAG,ARTHUR,SZLIS,MICHAEL,02/15/2, $10800,CTY 17 S24 PS25
128 OCONNELL 04,STACK,RUTH,DUNBAR,JEFFREY,02/15/2, $13544,CTY OCONNELL
74 SKILLEN 07,ZWELLING,MICHAEL,ZWELLING,Mike,2/14/2, $15000,CTY 6-7&10
34 REIMAN 06,GIANGRECO,VERA,JANKOWSKI,RAIA,02/15/2, $17500,CTY 41 11/7S182PS181 C241
66 CROSSMAN11,GRIFFITHS,MARGUERITA,SURIEL DEVELOPMENT,2/12,$18000,CTY 43 11/7 L5
44 LAFORCE PL 10,PARISI,KAREN,FIGUREROA,LOURDES,2/13 $19000,CTY 256
78 THATCHER 15,DEZIK,MARGARET,RAZOR,YASARAH,02/15/2 $20000,CTY 55 11/7 PS23-24 C576
56 GALLATIN 07,YAGER,ROBERT,BERTINI,MICHAEL,02/12/2, $20000,CTY 38-39 S27-28 C397
277 LISBON 15,SZYMONIAK,MICHAEL,OLSEN,ROBERT,02/11/2, $23000,CTY 55 11/7
12 DAISY 08,BELL,CYNTHIA,SMITH,ROBERT,S,KYMALIE,2/15/2,$25000,2P CTY DAISY
99 ROESCH 07,BEAUMONT,THOMAS,BASAR,JOHN,02/14/2, $28000,CTY 16 S3 C255
2 GOULDING 08,CALVARY CME CHURCH,NEELY,ARLENE,02/14/2, $30000,CTY 26 11/8 S503 C907
319 NORTH 16,GULLO,PETRINA,BUSCAGLIA,GABRIELLE,02/13, $32500,CTY 73 11/8 S95 C991
319 NORTH 16,GULLO,CRUCIFISSA,BUSCAGLIA,GABRIELLE,2/13,$32500,CTY 73 11/8 S95 C991
324 SHIRLEY 15,WOLF,MARIE,CALLENS,APRIL,02/15/2, $35000,CTY 46 11/7PS347-348 C998
43 OKELL 20,SMITH,MAUREEN,SMITH,PETER,S,LINDA,2/14/2, $35000,CTY 44 10/8
155 URBAN 11,MCCULLOUGH,TERRANCE,WILLOUGHBY,JESSICA,2/15,$36000,CTY 7 11/8 S37 C314
188&192 CABLE 06,STROZE,GERALD,BOJDO,KAREN,02/15/2, $37570,CTY 7 10/7 L267-268 C291
268 CENTRAL 177 TRESTLE 25,SWINARSKI,MICHAEL,PAVALONIS,WM,2/11,$41500,2PCTY50 11/7PS27 C141
95-7 ULLMAN 07,SMITH,ROSE,MATHEWSON,CHARLES,02/14/2, $43000,2P CTY 22 C289
105 COLUMBUS 20,PRICE,MAUREEN,BLASZKOWIAK,MARIA,2/12/2,$49500,CTY 257 10/7 S30 C546
115 HENRIETTA 07,SZLABONYI,LASZLO,OTERO,CARMEN,2/13/2, $50000,CTY 17 S113 C896
50 ALLEN 01,VARA,JOHN,DO,ALEX,02/15/2, $52500,CTY 51 11/
2261 SENECA 10,LIVINGSTON,DIANE,BOVE,JAMES,B,CHRISTINA,2/12,$55000,2P CTY SENECA
1036-8 E FERRY 11,BROOKS,SHARON,TIGER RELOCATION,2/12, $59000,CTY 10 11/8 S90
255 ST LAWRENCE 16,KING-FALSONE,AMY,LOOS,DAVID ,02/14, $66500,CTY 79 11/8 S324 C1263
605 N DIVISION 10,BLISS,VANESSA,JARRETT,TYROUNE,J,DOREEN,2/11,$70000,CTY 16 11/8
37 KIMBERLY 20,HIGGINS,BRIAN,PATTERSON,PAUL,2/13/2, $70000,CTY 266 10/7
117 WHITEHALL 20,SKINNER,BRIAN,STOBNICKI,KIM,2/15/2, $72900,CTY 265 10/7 S92 C1271
33 ARBOUR 20,CANNEY,ANTHONY,COYNE,KEVIN,ANN,2/15/2, $75000,CTY 265-266 10/7 S7 C1601
597 CRESCENT 14,CHIAPPONE,TONY,MUSCARELLA,STEPHEN,M,CONCETTA,2/15/2,$89000,CTY 68 11/8 S7 C367
297 WOODWARD 14,TZITZIS,SOTERIS,BELLAVIA,CARL,2/13, $92500,CTY 67 11/8 S10 C261
276 LINCOLN 17,ROSEN,WAYNE,HADJ-CHIKH,SHARON,2/13/2, $97500,CTY 82 11/8 S182+ C844
345-351&280 TACOMA AVE&ST 16,TASCA,PETER,EVANGELICAL CHR CHURCH/CITY/,2/15/2,$140000,3P CTY
280&351 TACOMA 16,FOOT OF/CROSS LIFE RESURRECTION,TASCA,PETER,TASCA,PETER,2/15/2,$140700,3P CTY
36 LINDEN 14,HOWARD,ROBERT,GABEL,TIM,G,KIMBERLY,2/15, 155000,CTY 68 11/8 L6 C456
1291 MAIN 09,CRANGLE INDUSTRIES INC,PRIME PROPERTIES MANAG,2/11,$158000,CTY 33 11/8
771 LAFAYETTE 09,BECK,ELIZ,SKERKER,MONA,S,JOAN,2/15, 160000,CTY U5A
256 MAIN 02,POINSETT CORP,MAIN&CATHEDRAL DEVELOP,2/12,$2820000,CTY 37-39

Richard Kern, MSW, 882-2388; Feb.23,2002
Email: HYPERLINK "mailto:Kernwatch@AOL.com" Kernwatch@AOL.com Website: HYPERLINK "http://www.Kernwatch.com" www.Kernwatch.com