mkapstei, Home Owner in Chicago, IL

Why are prices in the Hampton House now so low?

Asked by mkapstei, Chicago, IL Wed Jun 20, 2012

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EdithJasser YourRealtor4Life’s answer
It is a market in which there are more properties on the market than there are ready and wiling and approved and capable buyers, and since there are so many properties on the market the buyers
can cherry pick, so some buildings therefore do worse than others..... it is complicated to understand why, but there are different reasons important to different buyers......

Assuming that you are a property owner in the building, and wonder about your property value....
Most homeowners home values have lost value over the last few years and until the economy and
unemployment situations change drastically it may not change much.

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0 votes Thank Flag Link Thu Jun 21, 2012
This building is like catching a falling knife. Values have plummeted.
0 votes Thank Flag Link Thu Jun 21, 2012
Unfortunately condo prices in general have fallen throughout Chicago w/ some buildings hit more dramatically than others. Over the last 6 months Three 1 Bedrooms have sold ranging from $45k-$120k, Two 2 bedrooms have sold at $51k & $159k, and Two 3 bedrooms have sold at $79k & $141k.
0 votes Thank Flag Link Thu Jun 21, 2012
Not sure they are the only building with those prices, but the whole market has been in the toilet for a few years. 2625 Clark is worse as are some others. I assume you are an owner so the market has picked up recently and so will the values as time goes on.
0 votes Thank Flag Link Thu Jun 21, 2012
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