Thursday, March 5, 2009
Irondequoit's Real Estate Market
I have seen numerous cycles in the real estate market since 1971. Irondequoit is attractive in the down cycle because it is affordable. Irondequoit is good for move up homes and first time buyers. We are a very diverse community ethnically and economically. The schools are excellent,and it is a great place to raise a family.People often ask us why our values don’t increase more and yet our taxes continue to rise. Home values in Irondequoit rose steadily in the booming real estate market in 2002-2004. During today’s down turn, we are still seeing a small rise in value while other suburbs are either stagnant or experiencing negative growth. Our tax rates are high because we have little industry and commercial property in Irondequoit. We are unique in the fact that we are a closed in suburb - surrounded by water (which is an attractive asset to our community). A suburb like Henrietta has lower taxes because of the amount of commercial property in that area. Irondequoit is growing and prospering with many projects in the works including The r\River and the Lake and the Bay in the Seabreeze area. Another factor to point out as we move ahead is that Irondequoit has already renovated most of its schools, while other communities are now trying to find ways to pay for these projects.