In sales of houses IN the city of Schenectady last month!!!

Prices tumbling, and the sale price as a percent of listing price is also dropping.

And there is a whopping 57% increase in additional houses listed for sale!!!!


FACTS, TRUTHS, EVIDENCE.  People are leaving the city in droves.   Now who is it that posted that the mayor and his dem team are doing a wonderful job in the city and to keep up the good work?????

Who was that that said that?   1,000% GUARANTEE there the person who said that wil NOT respond, will NOT address the FACTS.


Not "being negative."   Just stating the facts and truths, supported with evidence, people have a birthright entitlement to know the truth.  Not covering things up like city leaders do.

My personal opinion is that people are seeing articles like that expose of Proctor's finances in the paper, and that is the final straw. What competent government keeps on handing out money to a NFP that cannot keep its books in order like that? People who don't live here can lecture all they want about what a gem Proctor's is, or how wonderful downtown is, but even the slumlords are abandoning this city. It's a crying shame.
Even the schools - they are about to embark on another expensive and destructive 'reorganization', this is probably the death knell to what was an excellent system, and they pack the board with disinterested hacks who are just marking time. Way to go.

WHERE'S MCCARTHY AND HIS BUS TOURS? SAD THING IS MCCARTHY IS USING THESE REALTORS AS BAIT FOR HIS HOMES PROGRAM SO HE CAN GET RE-ELECTED. GOT NEWS FOR YOU IT WON'T HAPPEN. PEOPLE ARE FED UP WITH THE DEMS AND WILL VOTE FOR THE OTHER GUY!

I noticed a house in my neighborhood, one that we talked about here before, it sold for 93 thousand decades ago, the owners put an awful lot of money into it, it has been sitting empty for years now. Zillow says it has been foreclosed.
http://www.clancyrealestate.com/local_detail.php?id=248781

Schenectady is a welfare city....plain and simple.

But in all due respect..........the housing market is still plummeting. Only the select few area are able to hold their values.

Schenectady is a sh!thole and it will be decades (if ever) before the housing market rebounds.

The point is, it did not sell at $40,000 UNDER its assessed value. It isn't even holding the value it had twenty years ago. McCheese is out there trying to prove that these houses are not overassessed, when they are highly taxed even at an imaginary 'bubble' price. The market says otherwise.
Schenectady largely escaped the mortgage mess from people being allowed to take on mortgages they could not afford, on overpriced houses. Our foreclosures are largely being driven by our city and county governments' actions.

Quoted from Madam X

I noticed a house in my neighborhood, one that we talked about here before, it sold for 93 thousand decades ago, the owners put an awful lot of money into it, it has been sitting empty for years now. Zillow says it has been foreclosed.
http://www.clancyrealestate.com/local_detail.php?id=248781

Wow, the owners bought it in 19990 for $93,000 and the asking price today is $94,900.

In 24 years the house has NOT increased in value!

The city claims it would sell for $137,000 but it was listed in 2011 starting at $139,000, and with price reductions and over two years it STILL won't sell!  

YIKES.  

Now where is the person who posts on these boards saying the mayor and his dem team are doing a wonderful job and the city is in a renaissance?  

Where is the person that said that?    Goes into hiding (in a basement or an attic) avoiding any comment on the evidence contrary to what he claims.

Some people get their jollies posting lies.  

Yes, there are some houses up the street in Niskayuna, they took a long time to sell, and had to drop their asking price, but the difference is, they did sell.

THE NEXT MAYOR OF SCHENECTADY BETTER CAMPAIGN ON A FULL CITY WIDE reassessment! This will be the focal point in the campaign along with a host of other issues that McCarthy has failed to solve. Remember McCarthy is a career politician and a pension padder who is collecting a big Mayoral salary on top of his pension. We need a new Mayor!!!  

Where is the phony turncoat democrap cheerleader? The ASSistant corp counsel today? Too busy driving businesses out of the city?

Quoted from firefox

THE NEXT MAYOR OF SCHENECTADY BETTER CAMPAIGN ON A FULL CITY WIDE reassessment! This will be the focal point in the campaign along with a host of other issues that McCarthy has failed to solve. Remember McCarthy is a career politician and a pension padder who is collecting a big Mayoral salary on top of his pension. We need a new Mayor!!!  

Yes that a reassessment is needed.  However, the mayor will NOT do it.   A new, non-dem mayor might do it

The reason the (current) mayor (or any dem mayor) will NOT reassess is because:

1.  A reassessment to lower the assessments will NOT result in a reduction of the tax BILLS
2.  A reassessment to lower the assessments would be an admission of massive failure by the two dem mayors, their dem council members, the dems at the county, and all the wild uncontrolled spending of plex, particularly because a reduction of assessment would make taxes appear even much more higiher than surrounding areas.


Here is the explanation of why these about statements are indeed fact.

1.  If the city needs X in the tax LEVY for the budget, let's say that the mathematical formula to determine the tax RATE results in a tax RATE of $10 per thousand.  Let's suppose that each and every house in the city was previously assessed for $120,000 based on a tax RATE of $10.  That would mean each and every homeowner is paying $1,200 in their tax BILL.  Lt's suppose that home values have fallen and the city does a reassessment and following reassessment all houses are assessed for $60,000.  When the city does it's budget let's say it needs to receive the same amount of revenue from the tax LEVY as before the reassessment, then what happens is that mathematical formula to determine the tax RATE will result in a tax RATE of $20 per thousand and so, now multiply the $60,000 x tax RATE (per thou) of $20 and the tax BILL is $1,200.  Same tax BILL as before.  Reducre assessment does NOT reduce tax BILLS.

What happens is that since the last reassessment some homeowners, but not all, have grieved their assessments, of coruse the puppet assessment board turns them down so they sue the ity and the judges order the city to reduce the assessments of those who grieve.   So if the city started out with 20,000 houses that were all assessed for $120,000. now some are assessed for $90,000, some for $80,000, some for $70,000, etc. depending upon how much the homeowners requested, some homeowners might ask for a reduction form $120,000 to $9,000 when their homes really are worth only $70,000.  But anyway, as SOME assessments go down, the tax RATE rises even if there is no increase in the tax LEVY.  So when the city does a citywide reassessment, the owners who chose not to grieve will see a slight reduction in their tax BILS while those who have been grieving their asessments successfully will see an increase in their tax BILLS.  Yes, you see, a reduction in assessment very well can cause a tax BILL to rise.

Just remember, these dems will NEVER reduce the tax LEVY because they REFUSE to lower spending.  The spending always increases causing a need for for increased revenue which causes the tax LEVY to increase.  The tax LEVY is the amount of money that is needed to be collected from property taxes.


2.  The other issue mentioned above is that a citywide reassessment would be totally embarrassing for the dem team.  Here is the simplest way to explain it.  Suppose a house assessed for $120,000 has a tax BILL of $6,500.  Because a reduction in the assessment will cause the tax RATE to rise, then the house having it's assessment reduced to, say $60,000 will stil pay about $6,500 in the tax BILL.

Now where does the embarrassment come from?  It comes when comparing other areas with the city.  If a house in Sratoga assessed for $150,000 had a tax BILL of $6,500 and a house in Albany assessed for $130,000 had a tax BILL of $65,000 amd the Schenectady house assessed for $120,000 had a tax BILL of $6,500, that is embarrassing enough is it not?  That would say that lower valued houses in Schenectady pay the same taxes as higher valued homes elsewhere.  Of course this is the truth anyway.  So Imagine if a reassessment was done and now can you imagine.  Just think of someone saying "Mayor, my sister as a $150,000 house in Saratoga and pays $6,500 and my house in Schenectady is worth less than half--$60,000--and I pay the same taxes as she does!"


Do you get the idea?

You know, if we just paid the same taxes for a similar house, even though our houses are "worth" less, we could chalk it up to that being the cost of the services and so forth we receive. The biggest problem for me arises from the fact that we pay MORE for a similar house than someone just up the street in Niskayuna, and we still aren't getting the services we pay for. Plus, young people get attracted to start homeowning by the lower asking prices for the houses, then they see that McCheese has grabbed all that money for his cockamamie schemes, and they would not be getting a bargain, or even their money's worth.
"No money" for snow plowing is a lie. "No money" for ice skating in Central Park is a lie.

Quoted from firefox

WHERE'S MCCARTHY AND HIS BUS TOURS? SAD THING IS MCCARTHY IS USING THESE REALTORS AS BAIT FOR HIS HOMES PROGRAM SO HE CAN GET RE-ELECTED. GOT NEWS FOR YOU IT WON'T HAPPEN. PEOPLE ARE FED UP WITH THE DEMS AND WILL VOTE FOR THE OTHER GUY!

We will see. They didn't last time. Picking Lumpy Kosiur should be another last straw. Pulling down $85,000 in his County lob job should be enough without another $14,000 to
be a DEM puppet on the do nothing {but tax} City Council. 40 years of corrupt DEM machine has it's consequences. But don't fret and go to Book Of Mormon.

there will never be a reassessment. not in mosts lifetime.

if that EVER happened....there would be mayhem in the streets!!!

no money for cops, firefighters, city/county workers, welfare, section 8, non profits, proctors...blah blah blah!

the city would go back to square one....which it should!

the damage has already been done!

it will take decades.....imho

You could be right, bt.