Local Real Estate Heats Up

January 7, 2013 Updated Jan 7, 2013 at 8:25 AM EDT

By WKBW News

January 7, 2013 Updated Jan 7, 2013 at 8:25 AM EDT

The local real estate market is expected to be filled with brisk sales and low interest rates in 2013. That's what lawyers and realtors are saying. A report in this week's Business First looks at the real estate industry. Real estate attorneys are reporting "a definite increase in business" on the residential side of things. A lot of that is thanks to first time homebuyers, who now have the confidence to buy especially with low interest rates. The economy is still tough, but realtors say buyers are getting the financing, it just takes a bit longer to close deals due to new requirements. The market is so hot that some say there's a shortage of inventory. Two areas expected to grow in 2013: refinancing and new home building. Bankers expect area foreclosures to remain flat.

A lot of businesses are keeping an eye on the Buffalo Bills after new president Russ Brandon led a search that landed the team a new coach Doug Marrone. A report in this week's Business First looks at Brandon's ascent to the top of the Bills organization. Brandon says his professional goal was to become a team president. The effort began long ago before he joined the Bills in 1997 as director of marketing. Brandon was a standout student and athlete at St. John Fisher College. The Syracuse native moved the Bills training camp to St. John Fisher and found new ways to regionalize the fan base, including Toronto games. He's also credited with landing support of business partners. You can read more about his efforts in this week's Business First.

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