No, it was NOT a misprint.  PROPERTIES are selling in the city.  PROPERTIES are selling in the county.  

The misinformation is when a bunch of whining nayboobs keep claiming that no one will purchase property in the city.  

These same people constantly tear down the community that they live in and then complain if home prices drop.  THEY are contributing to the decline of home prices by constantly bad mouthing the community that they live in.  

Quoted from DemocraticVoiceOfReason

No, it was NOT a misprint.  PROPERTIES are selling in the city.  PROPERTIES are selling in the county.  

The misinformation is when a bunch of whining nayboobs keep claiming that no one will purchase property in the city.  

These same people constantly tear down the community that they live in and then complain if home prices drop.  THEY are contributing to the decline of home prices by constantly bad mouthing the community that they live in.  

But your CLAIM is wrong and you won't man up.

Quoted from DemocraticVoiceOfReason

Despite your OPINION, the ACTUAL FACTS show that 566 properties sold in the City of Schenectady.

It's just too funny how this is spun to 'appear' how and why homes are selling!!!

The REAL TRUTH of the matter is......we were talking to folks that are in the 'foreclosure' business....if you will!

They said that since the bail out in 2009....the banks are sitting on millions of foreclosed homes.....until 2014 when they will be cut loose.
They hung on to these homes so the housing market would rebound. The REAL TRUTH IS.....IT DIDN'T!!!! And will get even worse once 2014's homes hit the market.
They also told us that even tho the capital district saw a rise in home sales.....almost ALL of those homes sold for 'way under market value' and MOST were long time foreclosures. For example.....a 'flipper' just bought a home for $20,000 in SCUMnectady. That is what is being done all over! This 'flipper' told the 'foreclosure folks', that they are buying these homes for $10K to $20K in hopes to sell them for $70K so they can make a $50K profit. They said the market is so under valued that this is the best price they can hope for in SCUMnectady.

So just like downtown SCUMnectady......its a scam and not the way the 'spin masters' spin it!!

Quoted from bumblethru

It's just too funny how this is spun to 'appear' how and why homes are selling!!!

The REAL TRUTH of the matter is......we were talking to folks that are in the 'foreclosure' business....if you will!

They said that since the bail out in 2009....the banks are sitting on millions of foreclosed homes.....until 2014 when they will be cut loose.
They hung on to these homes so the housing market would rebound. The REAL TRUTH IS.....IT DIDN'T!!!! And will get even worse once 2014's homes hit the market.
They also told us that even tho the capital district saw a rise in home sales.....almost ALL of those homes sold for 'way under market value' and MOST were long time foreclosures. For example.....a 'flipper' just bought a home for $20,000 in SCUMnectady. That is what is being done all over! This 'flipper' told the 'foreclosure folks', that they are buying these homes for $10K to $20K in hopes to sell them for $70K so they can make a $50K profit. They said the market is so under valued that this is the best price they can hope for in SCUMnectady.

So just like downtown SCUMnectady......its a scam and not the way the 'spin masters' spin it!!

Constantly talking trash about the community that you live in is IMHO just disgusting.  You folks are never happy with anything.  Never satisfied.  YOU FOLKS are a huge part of the problem.

Thankfully their are many positive thinking people who are hard at work bringing the Renaissance of Schenectady about.  

Your assessment ties in with what I've been seeing, bt. It isn't talking trash about the community you live in to comment about the international mortgage/housing scam, is it? There has been propaganda at a NATIONAL level (housing sales are up, the market is rebounding) so that gullible would-be buyers, the ones that didn't learn anything from what they saw happen with their own eyes, will think know is the time to jump in before they get locked out. Guess what? The market is NOT returning to 'bubble' prices, nor should it. What are the three things that determine a house's value? Locally they are trying to disregard this irrefutable truism. McCheese and his crony realtor/assessor along with a compliant, disinterested local media are acting as predatory lenders to keep the illegal high assessments in place. This is corruption, ladies and gents.
Wondering why Obama did not go after the banks after they did so much harm, I quit wondering when I realized he was gearing up to do it again.
Anyhow, it's interesting how people will argue over the validity of the crap they read in the paper or the rumors they believe. Parent lives here and parnt's real world firsthand experience correlates with what I know - the rose garden is especially beautiful this year, it is a safe place for a visit, where elsecan you see such beauty without a long, expensive trip, and no, houses aren't selling well in the city. There are just so many unwitting dupes or newcomers with high incomes to buy houses.

Houses are not an asset, it doesn't have intrinsic value like gold, they are a liability.  They should not spike in value, if anything they SHOULD depreciate as they need to be repaired.  Houses are non productive, they are shelters, nothing more.  The only thing that should raise the price of a home is when a productive asset(General Electric) is within traveling distance of the house.  The only thing that gives the illusion that homes appreciate is cheap money set by the Federal Reserve creating a false demand, and the fact they reduced inventory(supply) by keeping foreclosed homes out of the market for the past five years.

One of the reasons they want to normalize illegals is to add millions of people eligible to apply for mortgages and buy up the excess inventory that's about to hit the market.

Quoted from DemocraticVoiceOfReason

Constantly talking trash about the community that you live in is IMHO just disgusting.  You folks are never happy with anything.  Never satisfied.  YOU FOLKS are a huge part of the problem.

Thankfully their are many positive thinking people who are hard at work bringing the Renaissance of Schenectady about.  

DISGUSTING?????? It's DISGUSTING the way the SCUMnectady folks are LIED to....AND THEY ARE!!!!!
I suggest you talk to the folks in local banking!!! Go talk to the realestate folks who are desperatly trying to keep median priced homes 'above' $100K!!! Sure no one can deny that 'some' homes have sold....but REALISTICALLY....they are the slums that sell for $20K for resale or rental properties. Very few are being sold to folks who actually want to MOVE to SCUMnectady!!! REALISTICALLY....the homes have plumetted in value while their taxes still remain the highest in the state!

You really need to start talking to the folks that are 'actively' involved!!!
Don't fall for the bullcrap the gazetto is fed and prints!!

ROTTENdam is becoming just as pathetic as SCUMnectady.....it don't take nothin more than a good pair of eyes and ears to figure that one out! DUH!!

Quoted from Madam X

Wondering why Obama did not go after the banks after they did so much harm, I quit wondering when I realized he was gearing up to do it again.
.

It wasn't the banks!!! It was the FANNIE/FREDDIE scam that started with the Clinton administration and of course Barney Frank. They 'forced' the banks to give out loans to 'risky' lenders. We all can remember how Clinton said....'everyone should own a home'. IF the banks didn't honor these FANNIE/FREDDIE loans....the government was going to pull their loan capabilities...TRUTH!!

So the banks gave out these risky 'government secured' home loans. Then when the bubble burst and the millions of homes went into default, the bank was left holding the 'government backed' bag...so to say.

The government had NO CHOICE but to pay the banks for these defaulted loans since it was the government that was backing/secured them.
So now there are MILLIONS of people out there without homes and bad credit....... and we the taxpayers are on the hook for the bank bail outs that the GOVERNMENT created!!!......TRUTH!!

Yeah, it is so blatantly obvious what they are up to with that phony "immigration reform" scam, when you see both parties getting together it is always to put one over on the American people. All this Snowden stuff, what's that about? Is he a good guy? A bad guy? Who cares, what a silly distraction from reality. Does the press really fall for this stuff, or are they just doing their jobs as corporate mouthpieces?
There are relatively desirable pieces of real estate here in the city where buyers have made offers, but they can't/won't be sold because of some banks'
scam involvement. I know of one I've mentioned here before, the owner is on active military duty and the BofA is jerking around anyone willing to takeher house off her hands. Criminal. That bank got government money, why should they get to hang onto the houses as well?

It wouldn't matter much if houses were selling well in Schenectady because there is such a backlog of houses and I keep hearing about and seeing moreand more families selling their houses or listing them. It's because the city does not take care of the residents. There is no reason they can't either. Thecity isn't "cash-strapped", not with all the money they take in. Our problems would not be worse than most other cities if it weren't for the malfeasanceand nonfeasance, and no amount of revenue is going to fix that. You can't pay it away.

It was Fannie/Freddie AND the banks, IMO. They were all too willing and resourceful and went way beyond what the government pushed them to do. They weren't so much pushed as given free rein.
Look who's governor. He was the implementer in chief, whether by design or ignorance, and now he is pushing a tax-free scam around our schools which are another another money grab disguised as a good thing. He should be recalled just for proposing such a preposterous fleecing of the taxpayers.

Quoted from Madam X

I know of one I've mentioned here before, the owner is on active military duty and the BofA is jerking around anyone willing to takeher house off her hands. Criminal. That bank got government money, why should they get to hang onto the houses as well?

When the banks got their bail out (government secured loans)....the banks were instructed to hang on to these homes (by the government) for FIVE years so they wouldn't flood the market and would allow the housing market to recoup...which it didn't!!! A few have been let loose....but there are almost 400K just in NYS alone that will be cut loose in 2014!!

So while the government and the banks are unsuccessfully controlling the market.....there are millions without homes and bad credit out there. Many with families!! Folks trying to sell their 'undervalued homes. Folks trying to buy homes. Millions without jobs!

The government REALLY needs to stay out of the banking/housing/medical/ business!!! It ALWAYS ends up a disaster that costs many folks their livily hood!!!

And both the dems and reps are totally responsible for this SCAM!!

This particular house, it would be a matter of approving a short sale. That is why this one burns me so much. The poor woman, in the military and nobody helping her get off the hook when it wasn't even her fault, really.
A lot of the people, I don't care, they did get taken advantage of, but it was with their eyes wide open.

Quoted from DemocraticVoiceOfReason

No, it was NOT a misprint.  PROPERTIES are selling in the city.  PROPERTIES are selling in the county.  

The misinformation is when a bunch of whining nayboobs keep claiming that no one will purchase property in the city.  

These same people constantly tear down the community that they live in and then complain if home prices drop.  THEY are contributing to the decline of home prices by constantly bad mouthing the community that they live in.  

Personally I tell the truth.   I say that no want WANTS to buy IN the city, but a FEW people do----those who are duped by the mayor and his cronies into buying a house on which they will be underwater on their mortgage.  

Again, DV, you do NOT understand real estate, taxes, or mortgages.   Your posts indicating that not only do you know have knowledge about real estate, taxes, and mortgages, you posts prove that you have obviously NEVER financed ANYTHING.

Let's say that a in January 2012, a house in the city that the city assessed for $100,000 was listed for sale, and the buyer bought the house for $100,000.   DV, the overwhelming vast majority of people buying the VERY FEW houses in the city that actually do sell, are making little down payment - this information public record and available to view online at no cost and it's available from official sources, not these "realty following" sources that get information several times removed---one only need read the mortgage documents (public information) to see how most are FHA mortgages which require little down payment.

But we'll say that the house, assessed for $100,000, purchased for $100,000, purchaser makes a 10% downpayment, i.e., $10,000 and then getting a mortgage for $90,000 (I trust you have the brain to understand that math, right).   Using the typical best mortgage rates that have been available, we'll say the buyer got a 3.5% fixed rate 30 year mortgage.   Based on the January 2012 purchase date, mortgaging $90,000, that person TODAY IS UNDERWATER.

And THAT, Mr DV Know-Nothing is a FACT, a TRUTH!

Mortgaging $90,000 at 3.5 percent fixed for 30 years means that as of July 1, 2013 (next week) the pay off balance on the mortgage is $89,287.66.   In other words, DV, as of Monday the owner owes the bank $89,287.66.

However, DV, the house is worth far less.  It is worth only $84,854 because the RAR for Schenectady city is 117.85 percent.     (DV, to educate you....    $84,854 (value)    x    1.11785 (the RAR)  = $100,000 (the assessed value)

The owner owes $89,287.66 but the market value of the house based on the RAR is only $84,854.  

When the value of the house ($84,854) is less than the amount still owed on the mortgage (pay off balance of $89,287.66), the homeowner is "under-water."    

In the country's real estate crisis, those who got sub-prime mortgages or got duped some other way, were under water on their mortgages.

However, the real estate "crisis" in the country is ended.   Watch the news, DV.   Houses are selling, actually, the number of available houses is less than the demand.  Home sale prices and home values are increasing across the country.   Home sale prices locally are rising in all counties around here except Schenectady Co.   And THAT is FACT based on the revenue stamps which is the source of official purchase price!   And in Schenectady the city, he home sale prices are falling even more!

Therefore, the mayor and his fellow dems and political cronies have caused a real estate CRISIS in the city!!!

Personally, I don't say that properties are not selling, I say "no one WANTS to buy IN the city," but many people have been duped into buying by the mayor because he tells them that buying IN the city is more affordable than buying outside the city.   Problem his, the mayor and his cronies will not tell the buyers that their homes are going to lose value, and he doesn't tell them that he will make them pay taxes on an assessement value that far exceeds the market value, nor does he tell them that he will REFUSE to allow the assessor or the BAR to reduce the value as the market value continues to decline.

No, DV, I do not want to see this happening in the city.   No, none of us are trying to "bring the city down."   Rather these are things that must be told and not swept under the rug.   These are FACTS that people need to understand so that the people in the city can demand that the mayor and his corrupt dems stop all the wild uncontrolled spending of their tax dollars, so that the people can demand the mayor and his dems STOP giving the peoples tax money to the filthy rich Galesi and all the other millionaires downtown.

DV, the TRUTHS need to be told so the people can understand that the DEM leadership in the city (and county and plex) are causing a drastic loss in the city's tax base, causing home values to fall and taxes to go up.  People need to demand that the city make these property owners and developers pay their own way.

DV, to you thing that paying ever increasing taxes while your home value falls is a good thing??????    DO you?   OR COURSE YOU WILL NOT ANSWER THIS QUESTION


When the "nayboobs" get the message across to the people, then hopefully the people will demand change and the city will improve.


Now, again, what period of time did these 566 houses sell???????     And where are these houses?    You won't provide any evidence of your statement will you????    


You won't address what I wrote above, will you?   You won't address my comments because you know darn well that I know what I'm talking about, you know darn well that I have the correct facts supported with evidence.   You wont' address my comments because you have no evidence to support what you say which just proves you are wrong and you won't respond to my posts because to engage in intelligent and FACTUAL discussion (with evidence) with me would mean your would have to admit you are lying and telling fairy tales

MC1....already shown that DV's 566 were not in CITY of Schdy a he claimed...L4L already listed 200+ outside of the city that makeup the 566. Looking at listings of the 566, their SELL dates go back to 2010, 2011, etc.  But Mr. DV still posts there were 566 instead of stepping up like a man and saying "OPS, I guess I was somewhat wrong with my numbers". But, that's what we expect from the wannabe....true to his form.