Came across this earlier today, from the Times Union, a story from 2010, just about 3 years ago (important tid bit)


http://www.timesunion.com/living/article/Neighborhoods-Eastern-Avenue-Schenectady-821924.php


The story references four houses that were for sale at the time the story was written.

For the record, the EVIDENCE shows the following FACTS, the following TRUTHS:

The house at 122 Elmer Ave NEVER SOLD.   Was listed for sale 12/11/09, listing removed 9/27/12.  Had been listed with two realtors.   THREE YEARS AND NO ONE WILLING TO BUY

The house at 518 Rankin Ave was listed for one year when it sold.   It was sold in August 2011 for $148,000, BUT the buyers got a 30 year mortgage for $151,200.  Interest rate unknown, but if it was 4% then the amount remaining to be paid as of Aug 1, 2013 payment due date is $146,235.72.    But if they did get an interest rate of 3.5%, then they owe $145,801.49 as of Aug 1.    Sure they may have paid extra on principal, but highly unlikely because they took out a mortgage that exceeded the purchase price so quite obvious it's not an owner who has ample money to pay extra (especially since taxes are going up and up and up, and fees have gone up too.  Based on the city assessment, the full market value is alleged to be $126,204 so the FACTS are that the owners of this house ARE UNDERWATER on their mortgage based on the assessment roll alone, but we ALL know that houses in the city ARE OVER-ASSESSED.

The house at 12 Morris Ave, the owners listed in effective March 2010.   The listing was removed 14 months later.    This house is located on that historic designated street!  Rather nice houses.  BUT! THE HOUSE HAS NOT SOLD

The house at 773 Eastern Ave was listed for sale 6/4/10 asking LESS THAN THE ASSESSMENT AMOUNT (assessed for $87,000, asking $79,000.  Note that is 2010.   Fast forward A WHOPPING THREE YEARS!!!!!!!!   The asking price (after several reductions) is now reduced to $59,000.     But the mayor and his political hack insist the house will sell for $80,586 (that is the "full market value" amount; assessment is $87,000).   A WHOPPING THREE YEARS, the mayor REFUSES to lower reassess the city, insists that this house is worth $80,000 despite the EVIDENCE, THE TRUTH, THE FACT that no one has even been willing to buy it for $59,000 after three months at that price!   LISTED A WHOPPING THREE YEARS AND NO ONE WILLING TO BUY IT.




Who says the city is improving?

Who says the city is in a renaissance?

Who says the mayor is doing a wonderful job?



TOTAL SILENCE, WILL NOT COMMENT ON THE TRUTH

The above is NOT about trying to be "negative."

The above is about the NEED for people to FACE THE TRUTH and to start reacting appropriate in order to get the city to improve.