...is another man's Starter Home!
 
Neighborhood Code 4817 -  According to the assessor, these are developments just outside the Village of New Hartford that are almost the same as the Villages.  Also development across from the Sangertown Mall.  Most of the homes are in the $40,000 to $75,000 range. See Neighborhood Codes for a listing of all Neighborhood Code descriptions.  

In simple terms, a "neighborhood" consists of properties that are comparable in terms of the probability of a buyer being equally as interested in buying House A as they would be in buying House B.  In other words, if I was a buyer, I would not be interested in looking at a house in a neighborhood code made up with homes that are 1,000 sq. ft. when I intend to buy a 5,000 sq. ft. home. Therefore, the 1,000 sq. ft. home should not be in the same neighborhood code as the 5,000 sq. ft. home. See Neighborhood Codes for further explanation.

For this report we want to focus on homes that were only increased 7.5% since 1995 when they were "trended" in 2004.  That is the only time their assessment was increased.  We  live in Neighborhood Code 4807 and our assessment was increased 17% in 2003 and then another 5.5% in 2004.

These properties are supposedly in this neighborhood because they are smaller with a lower selling price than other homes in New Hartford.  We were told that their "market value" didn't increase as much as others because the "demand" for this type housing was not there to drive up their sale price.  Supposedly, because of the decline in mortgages rates people were looking to buy "more house" than they already owned so the "smaller" homes were not in demand.

Some of the homes on this report actually do fit the description, but please take a look at our report and ask yourself the same question we have been asking for the past 4 years--how do I get on this list?  The only thing better than owning some of these homes is being one of the people that owns property that has never seen any increase in their assessment even when they increased the square feet of their living space and believe me--there are many!  For real shock value, drive around to some of these "starter homes" as Maxwell Appraisals liked to call them!

We have sorted the report three (3) different ways, click on each link below to view a pdf copy of our report.    These reports are based on the 2006 Final Roll as of July 1, 2006 and they are 32 pages each.

As you review these reports, please refer to the definition of a neighborhood code and the description of Neighborhood code 4817 given by the assessor.

Please keep watching this site if you want to know what really happened.  Email us New Hartford, N.Y. Online if you have any questions or better yet, check with the assessor to see if he agrees with our reports and then ask him "How Come?"

 

 

 

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