More like a massive unloading.

$340,000 for 18 properties, what a windfall.

$340,000 should only buy you 2 decent houses.


Schenectady selling public on why to buy property in the city
Mayor is leading effort to attract buyers to a better Schenectady
By Paul Nelson
Published 10:12 pm, Monday, December 29, 2014

Schenectady

The impending sale of 18 properties in Schenectady will pump $340,500 into city coffers, according to Mayor Gary McCarthy. The real estate transactions are part of an ambitious effort by McCarthy to get more people to move to the Electric City through his 'The Home Ownership Made Easy in Schenectady (HOMES) Program.

In a statement Monday, McCarthy said "promoting home ownership is a critical part of continuing to improve quality of life in our city and our focus on working with the real estate community to better communicate that value has been paying dividends."

Throughout the year, the city has hosted several real-estate-related events in a bid to highlight and market all the city has to offer to potential home buyers.

Over the summer, Schenectady - for the first time ever - was the site of the Greater Capital Association of Realtors' annual meeting that drew hundreds to the city.

The city has also launched a major neighborhood revitalization effort using $7 million for demolition of blighted properties while partnering with new owner/occupants and landlords who want to rehab houses.

pnelson@timesunion.com • 518-454-5347 • @apaulnelson

Here are the 18 properties that were sold either to a new owner or a relative of the previous owner:

972 Albany Street sold for $30,00

848 Stanley Street sold for $40,00

1317 Eighth Avenue sold for $12,000

12 Harvard Street sold for $20,000

1192 Parkwood Blvd. sold for $40,000

1722 Hamburg Street sold for $43,000

1455 State Street, a mixed use building which sold for $12,000

1344-1346 Fourth Avenue sold for $20,000

850 Albany Street is a commercial building sold for $15,000

650 Lansing Street sold for $5,000

138 Haigh Ave. sold for $27,000

6 Paulding Ave. sold for $4,000

805 Lincoln Avenue sold for $13,000

617 Orchard Street sold for $5,000

1412 Albany Street sold for $25,000

5 Winston Place sold for $12,500

302 Division Street sold for $7,000

367 Twelfth Street sold for $10,000

But the FACT is that the properties are being purchased.  A FACT which is contrary to the @%&$ that some others have been shoveling.

Quoted from DemocraticVoiceOfReason

But the FACT is that the properties are being purchased.  A FACT which is contrary to the @%&$ that some others have been shoveling.

Selling properties at 20 to 50% of the assessed value is not success.

Quoted from Libertarian4life

Selling properties at 20 to 50% of the assessed value is not success.

You're right.  Much better to let them sit, unoccupied, dilapidating,
off the tax rolls and eventually being demolished at taxpayer expense!

        Low risk speculation due to the casino news.  If properties don't move, it was a small initial investment by some slumlord.  What did Barnum & Bailey say, There's one born every minute . . . .

Quoted from DemocraticVoiceOfReason

But the FACT is that the properties are being purchased.  A FACT which is contrary to the @%&$ that some others have been shoveling.

And the FACT is that this is absolutely TERRIBLE.  

The TRUTH is indeed that $340,000 is indeed what only two houses should sell for.

The FACT is that DV is NOT buying a house IN the city to live in.  The FACT is that DV will NOT even rent an apartment for his pinky toe, he won't DARE LIVE IN the city, absolutely no way.  

The FACT is that the city chose to ignore the neighborhoods, chose to spend the taxpayers' money on their downtown millionaire political cronies in exchange for kickbacks, and then while the properties became dilapidated, the city chose to allow the owners off the hook, instead, cause the home values of nearby homes to fall in value and then not bother to lower their assessments causing people to sell or live near dilapidated places or vacant foreclosed properties.  

The city had an obligation to the taxpayers in the neighborhoods to go seize the assets of the owners of these properties but it chose to concentrate on it's millionaire political cronies downtown.  

And the worst is that as these were NOT arms length sales, the sale price of the home is NOT usable in an assessment grievance, therefore, the owners could be potentially be paying $4,000 or more annually in taxes on houses worth far less.

Speaking of taxes there was a house of the week in the TU, it was a condo in Saratoga listed for $1.6 million and the total property tax bill was under $9,000.  Probably the market value is not worth that much, it will probably sell for less, but you can look at the TRUTH -- that DV denies -- Saratoga taxes are way far less than Schenectady.  The official records, the EVIDENCE will show that these places in Saratoga are selling for half million to a million and the taxes are LESS THAN Schenectady houses valued at $100,000.   And that is  the 1,000% TRUTH and DV cannot in a ANY way, manner, shape, or form, provide even one teeny weeny shred of EVIDENCE to disprove what I say !!!!!!   That house on Glenwood has a market value of $101,000 as PROVEN by no interested buyers until the price went so low but it has a tax bill of over $8,000.   Naturally DV has no intelligence or knowledge about market values or assessments because he has never been a homeowner or taxpayer.

Now, maybe DV will post here and respond with an answer as to WHY the assessment board member Mary Mary and her Metroplex connected architect husband STILL keep their house even though they are MORE THAN THREE YEARS behind paying taxes?   Why are the financially struggling homeowners paying the taxes of these tax deadbeeats?    The city's metroplex political cronies Gilmore and Mary Mary,  the political crony at Proctors Joe Piazzo, the Dem political crony former councilman Joe Allen, the political crony Marcella, the schoolboard member Hull.   Well, does DV have an answer?  Ah, as he is proven wrong, he will do only his customary "yawn."

the powers that be are stuck between a rock and a hard place.....they had no choice!!!
they created this mess and now they are left with very few options.
will this turn out to be a 'positive' for the city?
only time will tell.

Quoted from bumblethru

the powers that be are stuck between a rock and a hard place.....they had no choice!!!
they created this mess and now they are left with very few options.
will this turn out to be a 'positive' for the city?
only time will tell.

Yes but MC1 wants DV to answer for it
it's DV's fault
DV needs to fix it
DV is the culprit
DV should do something about it
DV, DV, DV, DV..............

Quoted from joebxr

Yes but MC1 wants DV to answer for it
it's DV's fault
DV needs to fix it
DV is the culprit
DV should do something about it
DV, DV, DV, DV..............

First - to respond to another poster - the problems that Schenectady and every other older northern U.S. city faces was NOT created by Mayor McCarthy or any other political leader living today.  From the late 50's onward, older cities were impacted by the growth of suburbs, the reduction in traditional manufacturing jobs and the movement of population down south and out west.   It has taken, at least, 50 years for things to cycle downward so it will take years to grow out of it.  Even then, Schenectady and every other northern U.S. city will NEVER be like it was in the 1940's again.   That is life - change happens -get over it or jump in a 6 foot hole and take a dirt nap.

Second - Mayor McCarthy;s program is working to the extent that these homes will now be OWNER OCCUPIED and back on the tax rolls.  In the past, previous mayors let out of town landlords snap up these homes.  The previous mayors got campaign cash and other favors while the out town landlords lined their pockets and couldn't give a damn about those houses or the city.

Finally, will reiterate that much of the housing stock (with exceptions in certain neighborhoods) in Schenectady is 90 to 120 years old -- obsolete, not energy efficient, not particularly historic or pleasing to look at.  Long term, we need to find developers willing to buy up, tear down and build new residential housing units in the city.

Quoted from DemocraticVoiceOfReason

Second - Mayor McCarthy;s program is working to the extent that these homes will now be OWNER OCCUPIED and back on the tax rolls.  In the past, previous mayors let out of town landlords snap up these homes.  The previous mayors got campaign cash and other favors while the out town landlords lined their pockets and couldn't give a damn about those houses or the city.

I beg to differ.......past AND the present mayor have allowed and welcomed out of town AND in-town landlords to snap up these homes.
actually Stratton was VERY pro-active in this area.
I know this for a FACT!!!!

However....it would be illegal and discriminatory to forbid the sale of any property based on the buyer
s  location, color, religion...blah blah blah!

Quoted from bumblethru

I beg to differ.......past AND the present mayor have allowed and welcomed out of town AND in-town landlords to snap up these homes.
actually Stratton was VERY pro-active in this area.
I know this for a FACT!!!!

However....it would be illegal and discriminatory to forbid the sale of any property based on the buyer
s  location, color, religion...blah blah blah!

And I guess it would be said that the owner occupant political crony of the city dems and employee of Proctors, the guy that films the city council meetings, I guess the current and former mayor are/have done the right thing by giving him a house at taxpayer expense, issuing an interest free mortgage wityh no repayment schedule while the non-politically connected homeowners in the city have to pay their mortgages with interest.  

And then this owner occupied guy gets to become a tax delinquent AND keep his house because he is an employee of the lavish taxpayer paid King Philip of Proctors.

Quoted from DemocraticVoiceOfReason

Finally, will reiterate that much of the housing stock (with exceptions in certain neighborhoods) in Schenectady is 90 to 120 years old -- obsolete, not energy efficient, not particularly historic or pleasing to look at.  Long term, we need to find developers willing to buy up, tear down and build new residential housing units in the city.

Ah, and DV was the one a while back who says he would want to live in the Stockade.   The Stockade with houses 2 and 3 times as old as you state above, can't even have energy efficient windows in the houses, so obviously that means YOU WANT the whole Stockade neighborhood torn down.  Ditto all the houses in the Union Triangle, designated historic.  Ditto Morris Ave designated historic.


Yep, DV very own words, these houses are NOT pleasing to look at!   DV says these old houses are NOT pleasing to look at, a developer (billionaire political crony of the city and plex dems OF COURSE must come in an demolish them at taxpayer expense of course, and build new apartments and get 100% tax exemptions for them, right?














etc etc

Quoted from DemocraticVoiceOfReason

First - to respond to another poster - the problems that Schenectady and every other older northern U.S. city faces was NOT created by Mayor McCarthy or any other political leader living today.  From the late 50's onward, older cities were impacted by the growth of suburbs, the reduction in traditional manufacturing jobs and the movement of population down south and out west.   It has taken, at least, 50 years for things to cycle downward so it will take years to grow out of it.  Even then, Schenectady and every other northern U.S. city will NEVER be like it was in the 1940's again.   That is life - change happens -get over it or jump in a 6 foot hole and take a dirt nap.

.

Interesting that the FACT is that cities of Albany, Troy, Saratoga,  Cohoes are old cities too, yet the taxes are FAR LESS than Schenectady, people are actually buying houses in those cities WITHOUT a taxpayer funded real estate business, WITHOUT a taxpayer paid city real estate agent, WITHOUT taxpayers paid down payments, etc.    AND the other FACT is that the sale prices of the houses in these other cities is INCREASING while the home sale prices in Schenectady is FALLING !!!!!!!!

So, DV, explain why

1.  ALL other local older cities similar to Schenectady are seeing INCREASING home sales WITHOUT TAXPAYER HANDOUTS,

2.  ALL other local older cities similar to Schenectady are seeing INCREASING home sale prices WITHOUT TAXPAYER HANDOUTS

3.  ALL other local older cities similar to Schenectady are seeing INCREASING property values WITHOUT TAXPAYER HANDOUTS

4.  ALL other local older cities similar to Schenectady have LOWER TAXES than Schenectady    

Quoted from DemocraticVoiceOfReason

Finally, will reiterate that much of the housing stock (with exceptions in certain neighborhoods) in Schenectady is 90 to 120 years old -- obsolete, not energy efficient, not particularly historic or pleasing to look at.  Long term, we need to find developers willing to buy up, tear down and build new residential housing units in the city.

This house is NOT pleasing to look at, it's old, knock it down !!!!!!!!!!!!!     Right DV?   Wonder what you've got to say about THIS house?






[size=14]This house is NOT pleasing to look at, it's old, knock it down !!!!!!!!!!!!!     Right DV?   Wonder what you've got to say about THIS house?






[size=14]This house is NOT pleasing to look at, it's old, knock it down !!!!!!!!!!!!!     Right DV?   Wonder what you've got to say about THIS house?

Quoted from bumblethru

I beg to differ.......past AND the present mayor have allowed and welcomed out of town AND in-town landlords to snap up these homes.
actually Stratton was VERY pro-active in this area.
I know this for a FACT!!!!

However....it would be illegal and discriminatory to forbid the sale of any property based on the buyer
s  location, color, religion...blah blah blah!

I double-checked what I typed and it very clearly say "previous mayors" and that would include Mayor Stratton as he was a "previous mayor."  So it is not clear what you are differing over.

Anyway, I reiterate that Mayor McCarthy's program to sell to those properties to people who will actually live in them is a good plan of action.