False Impressions
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10/29/2008
I find the statistics in your report very interesting, although somewhat misleading (I believe they are probably accurate). The median cost of a single family home is listed as $229,500. However, this is a resort area. Alexandria Bay is located in the 1000 Islands on the St. Lawrence River. The average price of a house, when waterfront is eliminated is more like $129,000. Because the waterfront homes (many seasonal) average $400,000 or better, it makes the housing seem very expensive compared to income. It is still possible to buy a reasonable house for under $100,000.(the stats are actually based on the township, not the village of Alex. Bay). The taxes here are becoming crippling for both individual homeowners and businesses. Many businesses are seasonal, and many will be gone in a few more years if the tax rates continue to go up. The area is very beautiful, but local residents struggle finding jobs that will support them. Fort Drum is about 30 minutes away, and has had a positive economic effect on the area. If Fort Drum should ever close, the entire North Country economy would collapse.
I am a local real estate broker, as well as an owner of a seasonl waterfront business, so am quite aware of the many economic shortcomings of this beautiful region.
Bp | Alexandria Bay, NY