LIES LIES LIES.

EVIDENCE.


This image here, above the black line, is from the capital district realtors group.  I zoomed in to avoid having unnecessary info.

Notice that it says that in the CITY of Schenectady the TOTAL closed sales "year to date," that is, January 1 2012 THROUGH December 31, 2012, there were a total of 266 closed sales-.

Below the black line are pieces of the the mayor's HOMES newsletter dated January 27, 2013.   A direct link to that newsletter is included below this image.   You see how Mary Mary LIED LIED LIED LIED by saying there were 367 sales during 2012!!!!!

Now you see that the mayor has appointed (and his dem cronies on the council supported it) the Homes woman Mary Dallessandro to the asessment board, just so she can deny each and every grievance---even when people provide 50 comparable houses that sell will below the full market value shown on the assessment roll.  

So, ANYONE who is planning to grieve should express concern about Mary Mary having a say in the decision of their grievance.   But remember, you can sue the city at SCAR or certorari lawsuits and fortunately you WILL win at that level.







And here is the the mayor's HOMES newsletter that is FULL OF LIES as the EVIDENCE has proven!


http://cityofschenectady.com/pdf/Key%20to%20the%20City/KeytoCity_January2013.pdf

None on that stuff coming from that group made sense... it just didn't jibe with what I was eyewitness to, and I was watching the market very closely,and talking with people involved with actual transactions, or transactions that didn't come through...
Here's the proof, what was there to see for people who had their eyes open.

This is what I don't like about the Gazette, one of the things. They've been going along with some of this nonsense without digging deeper, and when the paper prints this stuff without question people who weren't there believe it. That is what a paper is supposed to do, tell the facts to people who can't be everywhere and might still need to know. How many people needing to buy a house have time to do this kind of research, and why would they?

Or how about this in that above link:

Quoted Text

Of those 100 plus loans, 66% of the homebuyers moved to
Schenectady from Clifton Park, Glens Falls, Rotterdam and Albany.
Two new home buyers moved from as far away as California and New
Jersey.

Interesting, did someone actually move from Rotterdam to Schenectady?       
Not until he's homeless when the two "old maids" (never married elderly women) have passed and has to move to one of "the projects."

But where is this list of people who allegedly moved from these places?  Since taxpayer subsidy, taxpayers have a birthright entitlement to know.  And those that moved, did they own a home in these other areas and CHOOSE to leave a house with lower taxes and appreciating values to buy a house with substantially higher taxes which is falling in value.  If someone bought a house last year, the equalization rate shows yet another 4% reduction in value, but that is "all properties" and does not segregate residential from commercial; the residential drop is more.   Or was it adult children who couldn't get a conventional mortgage and needed the taxpayer handout, but at least were adult enough to move out of their "mommie's house," but they can only afford to buy a cheap house that loses value, and they don't understand appreciation vs depreciation.   And WHO would EVER make a CHOICE to move from California to Schenectady city?

Taxpayer money/subsidy, taxpayers are ENTITLED to know what THEIR money is being spent on, who these people are, how much we are paying them, where did they come from, what was their situation.

So, in the mayor's HOMES program, people very often are getting FHA 100% loan.  Buy a house for and get the mortgage for $100,000 in October 2011 (one month after the program started I believe).  They probably got a 30 year fixed at 4%.  The total PRINCIPAL balance remaining due based on the upcoming, June 1, 2013 mortgage payment, would be $97,331.72.   However, the equalization rate effective last year and the one effective this year would have the CURRENT FULL MARKET VALUE of the house as $92,000

We can use the example also of saying that the house was also assessed, since 2009, for $100,000.   So essentially at the time of purchase in October 2011, the house was assessed for $100,000 and it was purchased for $100,000.   If you were to look at the new, tentative assessment roll (May 1, 2013), it would show that house as having an assessed value of $100,000, but right on the assessment roll it would show the Full Market Value $92,000.

So therefore, thanks to the mayor, the dem council, the dems in the county, and the stupid plex under Gillen, the homeowner IS UNDERWATER on their mortgage!!!!!!!

These dems are creating a massive real estate crisis that is rivaling the crisis that started in 2008, but it's a different situation slightly.   Not that the city has not had a real estate crisis under these dem years anyway.

If a buyer of this (example) house in Oct 2011 had a job transfer today, the person would, in theory, only be able to sell their house for $92,000 but they would owe OVER $97,000 on the mortgage!

How about this revision to the mayor's H.O.M.E.S. acronym to
Home Ownership Made Easily Stupid



And as the mayor's cheerleader says:

Quoted from DemocraticVoiceOfReason

Sounds great -- another sign of the Democrat-led RENAISSANCE in Schenectady.

Home buyers that come from out of state to a well paying job find the Schenectady market doable. Notice there are only two of those. I'm sure that nobody moved from a house they owned in this area to buy one here. The seemingly low prices fool some people who can't afford a more costly house elsewhere. That's just what we need, people buying houses without being well-informed. Because that worked so well during the 'bubble'.

Assessed for $352,000.  Doesnt sell for $220,000 in 2011.  Now it is going to auction as a foreclosure. I think Prudential had it.  

http://www.zillow.com/homedetails/1186-Lowell-Rd-Schenectady-NY-12308/32463532_zpid/

Quoted from TakingItBack

Assessed for $352,000.  Doesnt sell for $220,000 in 2011.  Now it is going to auction as a foreclosure. I think Prudential had it.  

http://www.zillow.com/homedetails/1186-Lowell-Rd-Schenectady-NY-12308/32463532_zpid/

And when it doesn't sell at auction, what then?

Keep in mind the city has to approve all purchases at the auction.

So, here we have 1186 Lowell Rd.    Look at the photos, the inside, it is beautiful.  Beautiful wood floors, high end appliances, the works.  Maybe paint color to suit one's personal taste might be changed.  

Yes, this is info below is from the link beginning with listing it, but this is easier to read than the website link


House purchased in 2005 for $340,000.
Dems assess it in 2009 for $352,600

House is listed with Coldwell Banker Prime Properties.

Listed on 5/4/2010 for $379,000

No willing buyers so price reduction on 6/14/10 to $359,000
No willing buyers at a price of $359,000 so price reduction on 7/8/10 to $350,000
No willing buyers at a price of $350,000 so price reduction on 9/30/10 to $309,000
No willing buyers at a price of $309,000 so price reduction on 10/31/10 to $299,000
No willing buyers at a price of $299,000 so price reduction on 11/26/10 to $285,000
No willing buyers at a price of $285,000 so so price reduction on 1/10/11 to $275,000
No willing buyers at a price of $275,000 so price reduction on 4/11/11 to $257,500
No willing buyers at a price of $257,500 so price reduction on 5/27/11 to $245,000
No willing buyers at a price of $245,000 so price reduction on 6/23/11 to $239,000
No willing buyers at a price of $239,000 but on 7/1/2011 the city claims that the market value of the house as $352,600, and so certifies the assessment value as $352,600 i.e., the equalization rate  was 100% in 2011.
No willing buyers at a price of $239,000 so price reduction on 7/21/11 to $229,000
No willing buyers at a price of $229,000 so price reduction on 8/14/11 to $219,000

No willing buyers at a price of $219,000 so buyers finally gave up!


The current owners purchased the house in June 2005 for $340,000.   No house like that with a price like that will allow for an FHA mortgage.  Most conventional mortgages require 20% down.  That would assume a $60,000 down payment.  That would mean a mortgage of $280,000.

If the owners got a mortgage for $280,000, then the pay off balance today, that is, the PRINCIPAL amount remaining to be paid as of the upcoming 6/1/13 payment would be as follows:

If the mortgage rate was 6%, the remaining would be $246,655
If the mortgage rate was 5%, the remaining would be $241,384
If the mortgage rate was 4%, the remaining would be $234,998

More EVIDENCE that the "nayboobs" report THE TRUTH!!!!!!!!!!!

The tentative assessment roll dated last week, May 1, 2013, shows the assessment at $352,600 but a "Full Market Value" of $326,481.

"Full Market Value" is defined as the price at which a willing buyer is willing to pay to a willing seller.

The city therefore is claiming that buyers ARE WILLING to pay $326,481 for this house.   But this "nayboob" has provided the EVIDENCE that even two years ago, NO ONE was willing to pay even $219,000 for that house.


But, remember, the city is in a grand renaissance.   The fact that the taxes on that house are $15,000 a year is something that cheerleaders say should be overlooked.  The FACT that no one is willing to buy the house for $219,000 when the city claims it would sell for $326,481 should also be ignored, after all, it's fine to pay taxes on a house that the dems claim is worth so much more even though the EVIDENCE proves otherwise.   The fact that vital, essential services to the homeowers is being reduced and that the home's value today is probably UNDER $200,000, well, just cover that up, pretend that's not fact.   The city is in a renaissance you know.

People in the city should all close their eyes and pretend the city is wonderful.  

This particular pair of homeowners should be jumping for joy, they should be totally gleeful that they are DRASTICALLY UNDERWATER on their mortgage.

Cheerleader says "don't be negative" that we "nayboobs" just are "tearing down the city."   Hmmm, who is tearing down the homeowner?   Does the cheerleader really believe that this homeowners should be jumping for joy at the money spent on downtown while they can't sell there house for anywhere near what they still owe on their mortgage?   Should they be jumping for joy that they are losing their house?   If they made a $60,000 down payment, and they would have had monthly payments of about $2,800 (mortgage + taxes + insurance) so to date they would have paid out $300,000 -- money that is lost forever they will NEVER get a penny back.   Actually, because they are losing the house, they will also have to pay taxes on the debt forgiven.

So where is the proof of the renaissance?

Well?    Any cheerleaders have the guts, NO, the BALLS to answer that question?????????


Of course NOT.  


Will NOT provide one teeny weeny shred of proof because not one teeny weeny shred of proof exists!


Again, this information must be shared and along to everyone in the city,   If the city is EVER going to improve the people MUST get rid of the dems, get rid of the mayor and get rid of metroplex.  

And STOP the wild uncontrolled spending on downtown!!!!!!!!!!!!!