So, how is the DEM mayor (and the dems on the council, the dems in the county, the metroplex) on improving the city?
ANOTHER MONTH, ANOTHER PROVEN FAILURE.
Here we have the latest FACTS, the latest TRUTHS about Schenectady and surrounding cities. The home sale median prices based on sales covering the first seven months of 2013 as compared to the same period last year 2012.
Watch the news on TV, they say overall in the capital region sales are up 27%. Schenectady County is up by, get this, a WHOPPING........ 2.6%
CHEER CHEER, IT'S THE RENAISSANCE,
Attention ALL: The dem supporters besnirtch the "nayboobs" as they call us as he calls us, claiming we lie and distort the truth. Hmmmm, how is presenting these facts considered lying and distorting the truth when also presented is the EVIDENCE from OFFICIAL records (in this case, from the official deeds recorded in the county).
YES, it's a negative. So let's do something about it. Get the word around of what the dem party is doing, forcing meager homeowners to pay the taxes of the ultra wealthy millionaire political cronies of the dems who get generous kickbacks at campaign time (and who knows what else) and this after paying taxes to build the lavish new buildings or the fancy renos, all at a time when homeowners are being charged with code violations for which they have no money to fix. The tax base is going down. Home values are going down, the mayor refuses to lower the assessments, home sales are down, home sale prices are going down, essential city services are being eliminated and the taxes are going up.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
The news yesterday about home sales, the reference to 27% increase in number of houses sold, that number was for the month of July only.this year as compared to the month of July only last year.
In this so called renaissance, there was a paltry increase in a small number of sales to begin with, but those few numbers resulted in what seems to be an impressive + 7.7% (July 2012 had 26 sales in the city, July 2013 had 2.
They didn't cite the one month only prices, but in the renaissance city the one month only prices are down by 8.4% this July compared to last July.
The news also reported this statement about home values:
Quoted Text
“Rates of appreciation 1% – 2% over the rate of inflation are perfect to reflect a balanced real estate market.”
We all know that in Schenectady city, there is no appreciation in home values, only depreciation, close to 18% since the last citywide reassessment based on the RAR this year for the city. But those who really look at prices will see that sales prices show a larger drop in hoe value than the state claims.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
Not only is Schenectady heading in the wrong direction it is the only City whose median sale price is UNDER $100,000. A total disgrace to the DEM machine and the dead enders. Things are going to get much worse once the new County Home is opened. Another $500,000 loss every month. Metrograft was to suppose to help property resale prices-no?
So why is the Metroplex still getting funding when the City is in complete economic failure??
Again, why is the Plex still around when they cannot provide any economic relief? Pretty facades and fake 'projected' jobs have amounted to complete failure on part of that 'development' agency.
All Gillen has done is move the SAME businesses from one part of the City into Galesi's tax-exempt-multi-million-dollar Center City
The low median price is not necessarily a bad thing, our city's efforts to prop it up to justify the obscene taxes is the bigger problem, I have seen signs of hope for our city, but it WON"T WORK with the failed Metroplex concept still going strong, throwing good money after bad. This NEEDS TO STOP! Denise Brucker woke up and realized that if you aren't a parasite you are the host. Too bad she won't have the decency to blow the whistle before she blows town. "Need a bigger house we can agree on". My @#$! More like, the minute I cross the border, I can AFFORD a bigger house AND taxes. Which is what we have been saying all along. Metroplex is circular reasoning, a snake swallowing its own tail.
The low median price is not necessarily a bad thing, our city's efforts to prop it up to justify the obscene taxes is the bigger problem, I have seen signs of hope for our city, but it WON"T WORK with the failed Metroplex concept still going strong, throwing good money after bad. This NEEDS TO STOP! Denise Brucker woke up and realized that if you aren't a parasite you are the host. Too bad she won't have the decency to blow the whistle before she blows town. "Need a bigger house we can agree on". My @#$! More like, the minute I cross the border, I can AFFORD a bigger house AND taxes. Which is what we have been saying all along. Metroplex is circular reasoning, a snake swallowing its own tail.
The lower median is a bad thing in that it's proof that home values are going down. If you bought a house in July 2012 and for !00,000, you most likely are underwater on your mortgage.
Last reassessment was effective 1/1/2010. Let's assume for a moment that the assessment assigned at that time were indeed valid and indeed were equal to 100% of market value. If you purchased a house in January 2010 for $100,000 with 100% financing at 4%, then as of your Sept 1 payment date for mortgage you owe $93,516. However, based on the RAR for Schenectady (city) which at this time is 117.85%, that means your house is only worth $84,855. Most likely you couldn't even sell it for the value that the RAR indicates it is worth.
If you bought your house in January 2010 and put a $10,000 down payment meaning your mortgaged $90,000 at 4% the balance due Sept 1 this year would be $84,313 so what you owe is less that what the RAR indicates your house is worth, but again, what could you sell it for.
Think of someone buying a $100,00 house with $10,000 down and then spending $20,000 for repairs, surely losing money.
Then use these numbers based on actual sale prices. The mayor has his home selling program, these people generally do not have funds for a large down payment, he's got all these government subsidized programs, so 100% financing at 4%. If one bought a "typical median house" in the city in July 2012 for $100,000, no down payment, mortgage at 4%, then now, one year later, the balance owed as of Sept 1 would be $98,238. But look at the drastic reduction in the median sale price in just one year. That buyer from last year is in deep financial doo doo this year, can you imagine if a job transfer necessitated moving!
Granted these monthly reports aren't going to figure exactly dollar for dollar, just because the median year to date in 2012 shows $100,000 and the same period in 2013 is $94,000, that doesn't mean that all houses have dropped in value that much. But it is definitely an indication that buying a home in Schenectady is NOT a worthwhile investment
That said, because all the evidence shows that buying in the city is not a good investment, then it's obvious things need to change. Things have been changing. Oh, there's nice new buildings downtown. There's a gold ceiling at Proctors. There's fancy light poles installed on Erie Blvd. They hang flowers from light poles in downtown.
But what have these changes brought? A lower, and continually falling tax base, falling home values, fewer home sales, lower home sale prices, fewer essential city services, and look at the Central Park - so ignored in favor of downtown,. And what else happens? Taxes go up. But wasn't all this fixing up of downtown supposed to make things better in the city? Neighborhoods--those places where the taxpayers actually live, sleep, watch TV, play with their kids, host family and friends for holidays, read, and try to live peacefully---those areas are ignored-- shootings and stabbings plague many neighborhoods, burglary spree in another, drastic increase in blight--- all ignored in favor of downtown. And the vast majority of downtown pays no taxes, their taxes are covered by the increase on the actual residents. And the leaders get their kickbacks from Galesi and the other millionaire cronies downtown.
How much more of a drop in home values are people going to accept? Most don't realize how low their homes have dropped in value since the dems have focused on downtown, and they won't realize it until they put their house up for sale, as they see how they have to keep reducing the asking price.
Sad truths, but it should be a wake-up call for city people to demand change.
Optimists close their eyes and pretend problems are non existent. Better to have open eyes, see the truths, acknowledge the negatives, and speak up for the people rather than the politicos and their rich cronies.
Here's what I mean about the low median price not being a bad thing, necessarily: There's a whole class of people who got left out of the real estate market, or stayed out, during the 'bubble', but are still very interested in owning a house. In Schenectady, the prices have finally dropped low enough to make the houses attractive to and in reach of some of these home seekers, except that the taxes are too high to make it worth their while to take a chance on a struggling city. Fix the taxes, and the houses will start selling, and eventually the prices will come back up. Prices in the city aren't going to go back up to bubble prices, because there is no reason for this city to be a "hot" market.
Here's what I mean about the low median price not being a bad thing, necessarily: There's a whole class of people who got left out of the real estate market, or stayed out, during the 'bubble', but are still very interested in owning a house. In Schenectady, the prices have finally dropped low enough to make the houses attractive to and in reach of some of these home seekers, except that the taxes are too high to make it worth their while to take a chance on a struggling city. Fix the taxes, and the houses will start selling, and eventually the prices will come back up. Prices in the city aren't going to go back up to bubble prices, because there is no reason for this city to be a "hot" market.
EXACTLY! And stop asking for more governmental services and ninny nanny laws. The County just announced another new City branch library on State St. After screwing the Duanesburg residents over and over. Start consolidating all City library branches into Downtown. Audit DSS-end the 15 non mandated County programs that cost us millions.
If the property taxes were halved, across the board, you would see a run on houses in the city that would eventually spill from the "good" areas to some of the more iffy ones, I do believe. Even with the crappy schools and the troubles with delivery of services. The thing is, the schools can only benefit from a massive influx of new homeowners. Newcomers for the most part didn't live through the era of the Insane Terrorist Janitor running things, they are too young to remember a lot of the other troubles such as the coke dealer police chief, they aren't beholden to the old system and don't benefit fromhanging on to the vestiges. It would truly be a fresh start. I know I'm being way to optimistic but I can't help it. It is too bad so many people who wouldn't have left otherwise threw in the towel but they had to do what they had to do. If Metroplex was great for the city, the city would be great. If droves of people stampede out of the city, and you manage to persuade one or two people to buy one of the vacant homes left behind, you can't credit yourself with a job well done. Imagine if you did that in your job. "Gee, half our customers dropped our service, but I signed up two new ones. Last month I signed up one. I am the greatest salesperson ever! Look at that percentage increase!"
If the property taxes were halved, across the board, you would see a run on houses in the city that would eventually spill from the "good" areas to some of the more iffy ones, I do believe. "
The vacant lots would be bought up, the boarded up homes would be remodeled.
Businesses would come without corporate welfare.
Malta has the lowest property taxes in the area.
Property values have skyrocketed, yet businesses and homeowners are fighting over properties.
Schenectady needs to cut taxes by 10% for 5 years in a row.
Not vote to override the state maximum tax increase cap every year.
Could someone please inform McCheesy of the wisdom from L4L?! All the crash and burn ideas (open houses, free CDTA passes with each City home purchase, the Key Bank sham) have all failed!!! So, L4L...good platform, when are you running for Council?????? You're much needed!
It's failed the taxpayers but kept DEM machines coffers overflowing. This should be a stuck thread. Another update-the Halal live meat market on Broadway much heralded in the Gazetto is shut with for sale signs. Anyone want to buy property in the City with McCheese and his crew taxing everything into the dirt? Anyone is needed except the incumbacrats.
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