Sierra Bloom

I hate to say it, but people either love it or hate it. I know that's kinda vague, but the developer's of University Village, residential, retail and commercial basically built an entire "Village" out of just about nothing at all. It's not like Lakeview where everything has grown over many decades, but instead, it basically just popped up over a few years. It's great because everything is at your fingertips. You are close to public transportation, 5-10 minutes to downtown and the Loop, close to I-94, UIC, 290, restaurants, shops, Home Depot, Jewel, Whole Foods, dog parks, etc. etc. The list just keeps on going. For that reason, I think it's great! It's important to find a home here though that is unique and not "cookie-cutter" because since everything was built pretty quickly, there is a lot of similar product. You want to make sure that when you go to sell your home, you aren't competing with 25 other homes that look exactly like yours!

If you have any other questions at all, don't hesitate to contact me. I'd be happy to help.
Sierra Bloom - sbloom@prupref.com - Mon Jun 2 2008, 11:45

The average active listing price for 1 bedrooms under $500,000 is $324,054. The average sold price is $296,482.
It's possible to negotiate on anything, especially in this market.
It looks to me like the Terrazio is pretty well priced, with 2 bed, 2 bath units being sold for below the average one bedroom price in the South Loop. Keep in mind this location isn't as ideal as let's say, 1133 S. State, but for the price it may be worth it to you. Is there a specific price range you are looking in? Or, is it the location or a "good deal" you are after?
Let me know if you have any other questions.
Sierra - sbloom@prupref.com - Mon Jun 2 2008, 11:36

I think that I may have been misunderstood in my answer. Originally I said that you want your agent to be available and I got some slack for that because other agents assumed that if an agent is available, they must not have other clients they are working with. This is simply not true. To me, this means that the agent is able to multi-task with many "balls up in the air" at one time. This doesn't mean that you receive less attention, it simply means that should you be panicing about something (as many first time home buyers find themselves doing), your agent will either answer your call or call you back that same day to put your mind at ease.

You also of course want your agent to be knowledgable about the area you are looking in, have experience working with buyers etc. To me those are things that are pretty basic and generic.

In today's market, standing out as an agent is important. If I can be all of the things that every other agent is AND If I can be more available than MOST other agents, my clients will continue to come back to me and send their friends as they have been for quite some time. - Mon Jun 2 2008, 11:24

Hi Julie,
It definitely depends on where "downtown" you are talking about? Some people consider even Lakeview or Bucktown to be considered "downtown". There are still neighborhoods that are up in # of sales, but down in price from last year. In my opinion, if you are looking to buy, anywhere in the downtown Chicago area is going to be a great buy, great deal etc. Seller's who have to sell (as I'm sure you know) are panicing and want to make a deal.
However, one caveat that I would add is that if your buyer is looking to move/buy and then might need to sell within 2 years, I would make sure that they don't buy in a newly constructed building that would provide a significant number of units for him/her to compete with when they go to sell.
I would be happy to assist your buyer should they decide to move providing a referral fee of course to you!
let me know how I can help,
Sierra Bloom - sbloom@prupref.com - 773-520-2615 - Tue May 27 2008, 15:49

Hi Laura,
As a Realtor, I definitely think it's a great time to buy. As a home owner and "regular person" just like you, I think it's a fantastic time to buy, and a not so great time to sell! Seller's have started to figure out that if they want to keep their asking prices at levels of 2-4 years ago, they can continue to sit and sit and sit on their house. It's just not going to sell at those prices. So, this is great for you because FINALLY they are starting to "Get real" with pricing.
It really shouldn't matter to you if there are too many properties for sale because unless you are buying in a brand new building and plan on flipping it (bad idea), then you don't have to worry about competition in selling your home right now.
Lakeview and Lincoln Park are the most established, well known, desired areas of Chicago to live in. It's never a bad idea to buy in these neighborhoods.
Having lived in Lakeview for 7 years and sold a number of properties in the area, I suggest you shoot me an email so I can help you find a home.
Sierra Bloom - 773-520-2615 - sbloom@prupref.com - Tue May 27 2008, 15:41