Mayor REFUSES to reassess the city

City iNSISTS this house will sell for $200,926

House listed for sale 1/29/2010 asking $219,000

It's been part of the mayor's grand gala bus tour as well

Several price reductions, most currently reduced to asking $179,900 as of August 2013

1836 Oaklawn Ave Schenectady

No one will to buy?



Let's see if the cheerleader buys it now that he has a job

There's a nice house just listed on Union Street, looks like a one family but it's a two family, I can't find the realtor listing yet, but Trulia and that other site claim it is going for $120,000. Almost all the houses from that side of Union to the park are beautifully kept, it is a "good" area. $120,000. I'd buy it myself, but you can't make ends meet with investment property in Schenectady if you don't have a very low mortgage payment or own the building outright. The taxes eat up your profits so you won't see any returns for years.
Some of the unintentional landlords I know of are having problems keeping good tenants in their places that they have to rent because they couldn't sell them. Unless you operate at a loss, you have to ask for a very high rent to cover your mortgage and taxes. People with over a grand to spend on rental housing are few and far between, in this area. You get a lot of people that want to live someplace decent, need the extra room a house affords, but just can't afford the rent.

My parents have calculated that they can have a new house built for them in NC, mortgage the whole thing, and still pay less than they pay for the taxes on their house here in Schenectady. They're going to sell the house here , and  they hope to get a decent price, but at this point it doesn't matter much and will dump it if needed.

More and more people are doing something like that, especially senior citizens. It just isn't worth it to stay here, no matter how nice of a home or neighbors you have, and donate money to people like Gary McCarthy and his cronies, for their benefit. As you point out, it makes sense financially to cut one's losses because owning a house here makes one an ATM for the politicians.