Home sales growth persists Local increase in August mirrors national trend BY BETHANY BUMP Gazette Reporter
August home sales figures indicate the Capital Region is continuing its climb toward a healthy housing market, a trend that mirrors two reports out Wednesday that show sales, prices and confidence are also on the rise nationwide. Schenectady County experienced the region’s largest increase in August home sales compared to last year, according to statistics released Wednesday by the Greater Capital Association of Realtors. Closed sales were up 45 percent, from 104 in August 2011 to 151 in August 2012, causing some real estate agents to speculate whether a citywide open house initiative is finally resulting in closed sales.
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The 45 percent jump in closed sales in Schenectady County can be attributed to a number of possible factors, including the regular open houses held in Schenectady as part of the Key to the City program that was launched in September 2011. No one affiliated with the program would say it directly contributed to the countywide increase, since it’s executed solely in the city, but two KeyBank officials said the program is experiencing success.
CLEARLY, AND THE EVIDENCE TOTALLY PROVES IT, the "Key" program has NOTHING WHATSOEVER to do with the success of sales IN the COUNTY
Actually, I guess those reporters for the Gazette don't know how to get their facts right. According to GCAR, the number of closed sales year to date January THRU August 2011 was 103, and for the sane period this year it is only 143. Yes, still an increase in the COUNTY.
But of course, we note that the taxpayer subsidized program in the CITY is by no means any success. The Jan to Aug total sales in 2011 was 174. This year, same period, total sales are 176.
A mere two more sales this year than last year at the same period and the Key bank people talk about success. Especially since they sold a house to one of their own VP's with a taxpayer-backed mortgage!
What also is important to note is that the average time, number of days, on the market in the CITY has increased a WHOPPING 20% !!!! And look at the tons of houses on McC's Key program that have been sitting on the market for one whole year despite MANY reductions in asking price to asking prices way way below assessment value--nice homes in nicer areas--and they STILL have not sold after a year. Can ANYONE explain how that is a success?????
Yes, and where are the listings of houses that have been part of the taxpayer subsidized Key Program. How many houses have been listed with that program? How many of them sold. McC has a duty and an obligation to provide a DETAILED list---addresses of the houses, city's assessment value, original date listed for sale, original asking price, current asking price, actual sale price (if applicable), was buyer a city renter, a buyer from outside the city and or county, a first time homebuyer or a downsizer, was buyer a person who could buy a house (a normal down payment) or was it a no-down payment purchase with a taxpayer backed mortgage; was it a family or an unmarried with no children, etc. The taxpayers in the city have a birthright entitlement to be told this information.
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.
Going back to about February, here's houses that have been featured on the "gala grand tour." The ones in green were featured on multiple tours.
So here's the EVIDENCE for all those who want to cheer for this program. Granted, for the most part the city didn't want to feature the houses on the hill, vale, MP, Eastern Ave, middle State St, and if any of them sold, they probably have sale prices about the price of a car.
McC and the Key people have an obligation to the taxpayers of the city who provide a detailed list like this, PLUS details about the buyers and the mortgages as I referenced above
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.
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