Housing slump hits capital region
SCHENECTADY, NY — The Beggs family loves this house, but when they outgrew it, they decided to sell their home.
“With four people one bathroom, it’s not always copacetic,” said Tracy Beggs.
Beggs put the home on the market a year ago. Since then, the family has been through three realtors, and they’ve knocked $10,000 off the original price.
“It makes you want to cry, it does,” said Beggs. “It’s really frustrating not getting the interest in the house when I know there’s nothing wrong with it.”
Well the Beggs aren’t alone in their struggles. The greater capital association of realtors says the national housing slump has finally hit the capital region. Housing sales in Saratoga county are down 15% from this time last year. Albany county stayed about the same, and Schenectady county dropped 17%.
“We sold property too high. We took the prices too high. And the real estate market was created by the realtors,” said Tom Marks of Coldwell Banker in Schenectady.