The value in Zombie properties
If you happen to own a property that sits vacant, and is on its way to becoming a zombie property, now might be a good time to consider selling it.
Posted: May 12, 2021 5:55 PM
Posted By: Kirk Tupaj
The Greater Mohawk Valley Land Bank acquires properties in foreclosure and are often in disrepair. Allysa Dupont Rader identifies and assesses vacant and abandoned properties, tries to determine how the property ended up the way it is, and figure out who the owner or mortgage holder is. Their goal is to revitalize neighborhoods that have these eyesores lowering property values, and now might be a good time to invest.
Greater Mohawk Valley Land Bank reaches Montgomery County milestone in properties demolished, rehabilitated | The Daily Gazette
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FORT PLAIN The Greater Mohawk Valley Land Bank recently reached a milestone – the organization has invested some $750,000 to rehabilitate and demolish blighted properties throughout Montgomery County, and is now preparing those properties for market.
The two-story building at 58 Center St. in Fort Plain was listed for sale just last week. That property with its first-level fireplace and wooden floors now floods with warming natural light on a sunny day.
Down the street from that newly-renovated home is 68 Center St., which is slated for a similar makeover by the land bank. The home there has undergone asbestos testing and abatement and is now on deck to get a complete rehabilitation.
Times Telegram
When a February 2017 house fire in the Otsego County village of Cherry Valley killed the elderly homeowner, the village was left to deal not only with the tragic loss of life, but with the burned-out property that remained.
The owner did not have fire or homeowner’s insurance on the house and family members lacked the resources to clean up the property. The owner did not leave a will and the estate went into probate. That left a burned-out house in the heart of the village. Local officials saw it as a health and safety hazard, but since the village did not own it, there seemed to be no way to clean up the property.
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Greg Klein | The Daily Star A multi-unit property at 20 Lake St. in the village of Richfield Springs will be sold to a developer expected to renovate it. The Greater Mohawk Valley Land Bank bought the abandoned property from Otsego County in 2018, a year after the county seized it for delinquent taxes. Land bank finds developer for vacant building
By Greg Klein Staff Writer Dec 21, 2020
Jan 5, 2021
Greg Klein | The Daily Star A multi-unit property at 20 Lake St. in the village of Richfield Springs will be sold to a developer expected to renovate it. The Greater Mohawk Valley Land Bank bought the abandoned property from Otsego County in 2018, a year after the county seized it for delinquent taxes.Â