So which one are YOU going to buy? Yeah, YOU. YOU know who YOU are
NOTES
Those highlighted in green are making repeat appearances. Look how long the repeaters have been listed for sale! One and two years!!!! One price has been increased in asking prices after repeated reductions and no takers. Other is way way down from what McC insists the house will sell for.
442 Arthur St – Advertised as move in ready, but check it out, the long long outdated tile wall in the kitchen. And how about the 1970’s yellow refrigerator. Porcelain sink outdated. So so the cabinets which don’t even match. Going to need 10’s of thousands of dollars in updates to make it livable. Mary Mary listed it in November 2012, no buyers and it was taken off early 2013. Then Mary lists again, even with the recent price reduction but now it shows up as a For Sale By Onwer.
1138 8th Ave. Now it this sells for near it’s asking price, and if McC’s assessor choice does get appointed, will he raise the assessment on this house to it’s selling price (like he said he’d reduce houses to selling prices)
454 11th St. Why the 2013 MLS number? Must be to hide the fact that it’s been listed for over a year and no buyers.
10 Front St. A repeat appearance. Listed for sale May 4, 2011 asking price had been reduced to $237,000. NO ONE willing to pay even that price. After sitting for a year and half no buyers, listing is removed. Then Gary’s girl Mary lists it and increases the asking price???? In a city where houses as are falling in value, AND home sale prices are falling, what kind of realtor lists a house by increasing the asking rpice $20,000 above what a price that no one wanted to buy it for?
1926 Lenox Rd – taxes must be with senior STAR (to low based on assessment). Also again, a house put up for sale OVER ONE YEAR AGO, July 2012, but the city doesn’t want people to know that people aren’t buying, it’s been listed for this tour under a 2013 MLS number
Hey, what’s going on with Guilderland Ave? It’s not just the three houses on this tour, there are many others on Guilderland Ave for Sale.
1838 Guilderland – this house has been listed on and off since June 2009 – THAT’S FOUR YEARS NO SALE
1700 Guilderland – that’s next door to another house that was on McC’s gala tour a few months ago. Comments?
Enjoy your Sunday
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.
"In the beginning of a change, the Patriot is a scarce man, brave, hated and scorned. When his cause succeeds, however, the timid join him, for then it costs nothing to be a Patriot."
Oh come on, you don't seem like the conceited type to think I'm talking about you.
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.
The rule is, you drop the price until it sells. A property is only worth what someone will pay. The reason they stubbornly refuse to do this is they are trying to justify the horrible overassessment of all Schenectady property. Gary has no business at all working with one particular realtor to sell overpriced, overassessed houses. I don't care if he is doing it on his own time or not, and he isn't. What a freakin' clown. They'd better do something about the TAXES real quick, right now. There are people who want these houses, if the houses get in any worse condition they won't be able to afford to save them. The section 8 is just a giveaway to downstate "investors". We have a decent amount of subsidized housing for our population, we don't need to invite more indigents to live here. That is just helping politicians like Cuomo, Bloomberg, and even Obama look good at our expense. There is no economic recovery, not with droves of people moving en masse for a handout, like Grapes of Wrath or something.
The rule is, you drop the price until it sells. A property is only worth what someone will pay. The reason they stubbornly refuse to do this is they are trying to justify the horrible overassessment of all Schenectady property. Gary has no business at all working with one particular realtor to sell overpriced, overassessed houses. I don't care if he is doing it on his own time or not, and he isn't. What a freakin' clown. They'd better do something about the TAXES real quick, right now. There are people who want these houses, if the houses get in any worse condition they won't be able to afford to save them. The section 8 is just a giveaway to downstate "investors". We have a decent amount of subsidized housing for our population, we don't need to invite more indigents to live here. That is just helping politicians like Cuomo, Bloomberg, and even Obama look good at our expense. There is no economic recovery, not with droves of people moving en masse for a handout, like Grapes of Wrath or something.
True regarding the taxes.
If the tax RATE is $10 per thou, and the assessments are all reduced hypothetically in half, then the tax RATE will be adjusted to be $20 per thou. Bottom line is the tax BILLS will stay high until the city does something to reduce taxes.
The city can start reducing taxes by eliminating all tax exemptions for the new/remodeled downtown properties INCLUDING PRODCTORS. Homeowners, the overwhelming majority are on fixed incomes, CANNOT afford to pay the taxes for wealthy developers who can more than afford to pay taxes. And King Phillip can increase the rent, charge more for weddings, increase show prices in order to pay the taxes for Proctors.
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.
They (the council) sat down one day and blithely voted to raise taxes almost 25%, because BS told them it was a good idea, and it would get us a better "rating". Well, we don't have a good "rating", and we aren't re-dong streets or anything anyway, they can just sit down and vote to lower taxes almost 25%. Then quit spending any money we don't have. Don't give any more money to King Philip, and require Proctor's to pay taxes like the for-profit enterprise it is. Get rid of the police commissioner, let our out-of-town police chief do more work. No more specially created jobs for special individuals. Eliminate the expensive Garbage Guru position. Hire an inspector to look for welfare fraud, that position pays for itself. No more housing "help" beyond the very reasonable amount of public housing we already provide. I would have said hang on to the police commissioner before, but that cop who stands accused of pointing a gun in a kid's face is having his case dragged out until he is eligible to retire and hang on to his pension even if he's guilty. Who needs it?
You are a mindless boor that is hell-bent on making all kinds of stupid and nasty remarks without any shred of actual evidence to back it up. Either start to make an attempt to have civil, reasonable adult discussions or slither back under your rock.
The nayboobs continue their campaign of lies, distortions and misinformation but those of us who are intelligent and reasonable know that these folks are just full of bull poop.
DVOR, the Dummy Voice of Rotterdam is living in a fairy tale land or is he really claiming that the official deed records and the sales and the legitimate realtors group and the rest of us on these boards are telling lies, all the deed records are misinformation, etc.
Response from DVOR??? NOTHING, ABSOLUTE TOTAL SILENCE. It's much too embarrassing to admit defeat. It's easier to be laughted at spewing nonsense babble and fairy tales.
Monthly report needs it's own thread. Tomorrow is coming.
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.
Yes I will provide a comprehensive report tomorrow.
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.
Yes I will provide a comprehensive report tomorrow.
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.
These articles about sales don't reflect the massive increase of houses put up for sale, which I've been seeing just recently in Schenectady. They also paint a rosy scenario, because realtors still advertise in the paper, so the papers don't want to do anything that will affect them negatively. Even with all that, we can still see that there is something wrong in Schenectady. When the mayor goes through a public song and dance about whether or not a prospective employee has to live here, will live here, and the office-seeker attempts to dictate the terms, and gets away with it, people who were holding out a last hope that the city government was going to do right by the residents throw in the towel. All this "open house" nonsense, with participation by people whose salaries you will be paying should you move here, but who wouldn't be caught dead living here themselves, none of them seem to realize it is all geared toward people who haven't been living here and paying taxes all along. That is the problem here in Schenectady, that is the ONLY problem, none of our money is going for the collective benefit of US. Those people in the stockyard, even if they become residents, they will be leaving any employment they may have had to do so, and thus will be unable to contribute anything.
Got to love how numbers can be manipulated for a story! The taxes are so high that it lowers the home prices and increases the gross rental yield, winning Schenectady a top spot on the Single family investment list. What a crocko' sheit! Add in the taxes and then do the comparison and I bet it is going to be near the end in rental yeild.
Erie County 12th nationally on list of ‘gems’ for owning single-family home rentals 12th nationally on list of ‘overlooked’ markets
Erie County ranked among the 25 best “overlooked” markets for owning a single-family home rental in the country, along with most upstate New York metro areas.
The ranking by two real estate research firms is based on how profitable a rental home can be as an investment.
The study by RealtyTrac and RentRange put Erie County 12th in the nation among the 25 “Hidden Gem Single Family Rental Markets” for property investors.
With a median market value in August of $110,000 for a three-bedroom home, and a median monthly rent of $904, that means the county has a “gross rental yield” – the expected return on investment on a rental property before taxes, maintenance fees and other costs – of 9.9 percent.
By comparison, the highest-ranked market on the list – Wichita County, Texas – had a yield of 13.4 percent.
The large national private equity firms and other institutional investors – such as the New York-based Blackstone Group – that have been swooping into some markets to capitalize on the housing recovery have ignored Western New York and similar markets where values didn’t fall as much in the recession and aren’t rising as much now.
Indeed, counties across upstate New York, as well as in Texas, Oklahoma, Tennessee and Florida, topped the list. Onondaga County, home to Syracuse, was ranked third nationwide, with a 10.9 percent yield. Tompkins County, where Ithaca is located, was fifth, at 10.7 percent, while Rochester’s Monroe County was seventh, at 10.3 percent. Schenectady County was just ahead of Erie, at 10 percent.
Erie County was tied with Jefferson County, La., on the rental yield. But the market value and median rents are much higher in Jefferson County, at $153,000 and $1,260, respectively. Also, while Erie County had absolutely no purchases by large institutional investors, 3 percent of Jefferson County’s sales were by large national investors, and the unemployment rate at the time of the survey was slightly higher in Erie County, at 7.4 percent.
Gross rental yield allows comparisons of rental properties and markets across geographies. It’s calculated by dividing the gross annual rental income by the purchase price or market value. That equalizes significant pricing differences from one part of the country to another and allows investors to find markets with the best deals and potential opportunities.
“Real estate investment opportunities vary greatly market by market,” said Wally Charnoff, CEO of RentRange.
The report was compiled by Irvine, Calif.-based RealtyTrac, a housing data research firm known for its monthly and quarterly reports on foreclosures, and Westminster, Colo.-based RentRange, which provides residential rental market data to the financial services and real estate industries.
The 25 markets were all counties where institutional investor purchases represented 5 percent or less of all sales in May, June and July, and where the unemployment rate was 7.5 percent or lower.
“Buying single-family homes as rentals still yields solid returns in many markets across the nation, but it is difficult for individual investors and even small- to medium-size institutional investors to find reasonably priced inventory in markets dominated by the 800-pound gorillas in the single-family rental space,” said Daren Blomquist, vice president at RealtyTrac. “With this analysis, we’ve identified the top overlooked markets where single-family rentals still make good financial sense but where there is little to no competition from the big players.”
By contrast, larger investors were responsible for more than 5 percent of the market in one out of every five counties for the three months through July. That heavy buying, which sellers are well aware of, drives prices up, “leaving small investors and owner-occupiers feeling left out in the cold,” said RealtyTrac Chief Economist Jake Adger.
“These levels of institutional investor buying will ultimately drive prices up and rental yields down,” Adger said.
Atlanta-area counties dominated the list of Top 25 “investor-saturated” single-family rental markets, where purchases of homes by institutional firms comprise as much as half of all residential transactions. The first six counties on that list were all in the Atlanta metro area.
Life is tough, but it's tougher when you're stupid - John Wayne
TIP TO NEW VISITORS TO THIS FORUM - To improve your blogging pleasure it is recommended to ignore (Through editing your prefere) the posts of the following bloggers - DemocraticVoiceofReason, Scotsgod08 and Smoking Bananas. They continually go off topic, do not provide facts and make irrational remarks. If you do not believe me, this can be proven by their reputation scores or by a sampling of their posts.
the thing is that the DC government has tried to convince us that everything is fine....and we know better....it's not ok in any part of thie country...
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