The Daily Star, Oneonta, NY - otsego county news, delaware county news, oneonta news, oneonta sports

November 26, 2013

Safety Track not good for property values

The Daily Star

---- — The New York Safety Track on the Davenport/Harpersfield border claims it is the answer to a depressed real estate market in our area. In fact, in a recent Daily Star ad, Greg Lubinitsky, manager of NYST, stated that ONE property in the area was sold to a NYST supporter for “an above market price.” 

That may be the only one, as my research has found that the real estate trend in Davenport is downward. There are many properties for sale (just drive down any road here and count the Realtors’ signs) that are “closer to the track.” Advertised sales prices have followed a steady decline even after the opening of NYST in May 2013., a nationwide Internet service specializing in real estate listings by town, listed 31 “Price Reduced Homes for Sale” in Davenport.

My personal experience supports this as well. This past summer as NYST was in full operation, I consulted a local Realtor to see what my property value would be. After an appraisal and walk around, she quoted me a listing price that seemed very fair. She would go back to her office and consult a fellow broker to get the final listing. She called in two days and told me that the price would have been correct had I not been in close proximity to the track (NYST.) Because of being “ closer to the track,” they had to reduce the price by $30,000.

Ingrid A. Husam