Though I don't know much about the financial situation of the town of mahopac, I will tell you this much. There is alot of Pre-Foreclosure properties that will soon be foreclosures in the Mahopac area (according to Realtytrac) You will be looking at the best time. I can be reached anytime to provide you more information at 914-447-2081 or you can visit my website at http://www.JohnOliveira.com
As far as Mahopac School District is concerned, we are the 4th from the bottom out 46 school districts in the area in terms of Per Pupil Cost so things are not even close to being bad compared to others. I can only imagine how bad it must be to be in the school district that are in the top 10 Per Pupil Cost.
Given what Michael has said, I'd be very surprised if taxes took a huge jump barring the town being broke and then jacking up sanitation, fire, etc and all that. Given that he lives there, I think that's the best you can do other than get the minutes from town meetings and start looking for problems.
Thanks for you quick response. As I said above, and increase in household is pretty unlikely to be widespread enough to require new classrooms be built etc which would have a huge effect on the school budget. I understand buyers see what it was, and what it is and think its a deal. People tend not to have a point of reference so they use what they have, which is the mythical values that were reached recently. If you were fortunate enough ot have sold in '05, or unfortunate enough to have bought then, they're suffering now. Historically, home prices are dependent on local income values, proximity to employment etc, the recent bubble and unwind still has that relationship way off which implies for homes to truly be affordable, they have further to fall. If you can rent a house for 60% of what it would cost to buy, something is seriously wrong and until that's not true, houses will fall or stagnate and let inflation do the work for them.
As I said I sold raised ranches for a LOT more money 1-2 years ago and my clients feel the prices are a steal right now but everyone has their own feelings on the current prices. As far as MDU's being built - no, but what is happening is lots of families coming up from Westchester and the Bronx with 3 - 7 (yes 7) kids in a house that had 1-2 or no kids. So yes for this example the # of houses for the most part are the same but the # of kids per household has been increasing at least from what I have seen 1st hand.
What they used to sell for is irrelevant, those people had bad timing and were reckless and now have a monthly payment nearly 1k more than in should be. I used to see people buy BSC stock for $150, now its going for $11! What a deal! Onto my real question, Michael, has there been a lot of MDUs and townhouses built in Mahopac recently? This happened in Armonk and the taxes jumped nearly 40% in 2 years because MDUs especially bring in a lot more student that means school additions and hiring and mucho dinero. If the number of houses is near the same, the school shouldn't need much more money then its already getting.