AMSTERDAM — The tight housing market is driving up interest in the 28 homes for sale through Amsterdam’s foreclosure auction, according to Grant Egelston, one of the city’s housing inspectors.
Open houses held at 15 of the properties to give prospective bidders an opportunity to tour the structures for sale through the online only auction each attracted around 50 area residents over three days last week, Egelston estimated.
“It’s nice to see them actually looking at the houses,” Egelston said while showing a foreclosure property at 260 Division St. on Thursday.
Although the city has traditionally opened the doors of foreclosure homes on the auction block for viewing, Egelston said the limited availability of homes in the pandemic real estate market boosted interest this time beyond typical years.
While some viewers expressed interest in buying the structures to occupy themselves, Egelston said most are interested in buying the fixer-uppers to either rent out or flip for a profit.
The potential investment opportunity of the auction properties attracted Andy Gugliemelli II to tour the homes. He is considering bidding on some of the residences to fix up for rental properties or to sell.
Gugliemelli has never rehabbed a home before, but has experienced friends who are willing to help out if one of his bids is successful.
The Amsterdam native lamented the condition of the foreclosure properties, many strewn with old belongings and even photos of families he once knew. Gugliemelli recounted spending time with friends at 260 Division St. when it was well kept.
“It’s sad,” Gugliemelli said, taking in the condition of the home. “It was beautiful here.”
The Division Street home was apparently in the early phases of renovation that left ceilings torn up in a kitchen area and stripped floors before it was seized through foreclosure. Odds and ends were strewn about the house, including a partial coil of nails.
Many of the viewers toured each of the homes asking about any open code violations and the city’s expectations for turning around the properties that are in varying states of disrepair.
Egelston acknowledged that most of the structures have violations on file, but said housing inspectors can be flexible about the timeline for addressing issues depending on the house.
“I want to see progress,” Egelston.
Safety issues take the highest priority, Egelston said. For instance, a new roof needed at 68 Glen Ave. would be the first item a buyer would need to address.
Exterior improvements are another priority due to their high visibility and impact on the quality of life for the surrounding neighborhood.
Obtaining any required building permits from the city before performing …….