SCHENECTADY, N.Y. (NEWS10) — The City of Schenectady has brought in more than $1,000,000 this year from selling city-owned properties.
Although some of the homes are vacant, run-down, and graffitied, they’re not stopping people from scooping up these places at bottom dollar.
Mayor Gary McCarthy and city leaders have gathered in front of one of the properties that’s available for purchase through the city’s homes program. Like many city-owned homes, it was a foreclosure and needs some fixing up, but Schenectady is seeing an uptick in people buying these homes.
“We just recently went through foreclosure on about 150 properties, 100 of them are structures,” Jackie Mancini, City of Schenectady Director of Development, said.
Realtor of Berkshire Hathaway HomeServices, Ryan Clark, says potential and character, like these arches and the fireplace, are what people will find when they give these homes a second chance. The price tag doesn’t hurt either.
With the casino coming to the area, even private home sales have increased by 25 percent.
“We definitely see a lot of people coming through that are interested in putting some sweat equity into it and they get really good value in the end once the property is brought back up to code,” Matthew Smith, City of Schenectady Homeownership Coordinator, said.
The main goal is lifting up an entire neighborhood, and the City of Schenectady, one home at a time.
There’s an open house once a month for those who want a closer look. There’s one this Sunday from 12 p.m. to 3 p.m. Realtors will be showing what the city has to offer.