Market Conditions in 60617 : Questions & Answers

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Evelyn Fred, Real Estate Pro in Chicago, IL
Evelyn Fred answered:
Can anyone tell me how the recent flooding has affected sales and prices in Bellwood?
Good morning, Shari,

There are currently 41 homes for sale priced at $100k and under in Bellwood. Of course, without having your specific criteria it's hard to determine how ma ... more
0 votes Share Flag Fri Oct 8, 2010 Market Conditions in Chicago
Mack McCoy, Real Estate Pro in Seattle, WA
Mack McCoy answered:
when you state the price per square foot, is this the asking price or the sales price?
Jeffrey, if a sales price is noted, then it is the sales price divided by the square footage. If only the listing price is noted, then it is the list price divided by the square footage ... more
0 votes Share Flag Thu Oct 7, 2010 Market Conditions in Chicago
Mario Greco, Real Estate Pro in Chicago, IL
Mario Greco answered:
In general, how long do properties in 60618 stay on the market. Addison and Western area. Single family home
Depends on if you're west of western. If so, 9-12 months easy. If not, less than 6 months - but all depends on price.
0 votes Share Flag Mon Aug 9, 2010 Market Conditions in 60618
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
Terrazio pricing trend
I would stay away from any new contruction/conversion right now. There is going to be a lot of price cuts, and developer closeouts. This could be very dangerous for you. You dont want t ... more
0 votes Share Flag Mon Jul 12, 2010 Market Conditions in 60616
Evelyn Fred, Real Estate Pro in Chicago, IL
Evelyn Fred answered:
I enjoy Stats & Trends section but is there a way to see Stats for the entire US (i.e. Prices and Sales) or at least state-wide Stats &
Go to realtor.org, you can get state and national stats.

Hope it helps & have fun!
0 votes Share Flag Wed Jul 7, 2010 Market Conditions in Chicago
Evelyn Fred, Real Estate Pro in Chicago, IL
Evelyn Fred answered:
Is buying a condo in 312 N.may St a good idea keeping in mind the mess the association is in?
Hi Sush,

How do you know the association is a "mess"? If the association is in a "mess", I'm assuming you mean either non-existent (which I doubt) or in fin ... more
0 votes Share Flag Tue Jul 6, 2010 Market Conditions in 60607
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
Sell or Rent? Take a loss in Chicago's market vs. renting out for 1 year in hopes of a brighter tomorrow?
You do not say what you think your loss will be if you sell, but Bronzeville has not faired very well in the past 3 years. It's been ugly! Having a $15/mo negative cash flow is NOT ... more
0 votes Share Flag Thu Aug 5, 2010 Market Conditions in 60616
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
How much is a 2BD/1BA, 900 sqft garden unit with updated finishes and private patio in North Center worth?
Hard to say without more information and looking at it, but safe to say under 200K and possibly under 175K. If I had a client interested in a Garden unit, I would tell them to rent inst ... more
0 votes Share Flag Fri Feb 26, 2010 Market Conditions in Chicago
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
Has the 90-day FHA seasoning rule been a problem in Chicago?
Chris,
I personally think its a little too early to tell. I have just had my first contract accepted that has to go through this process, so I am unsure as to what the process is goi ... more
0 votes Share Flag Tue Jan 19, 2010 Market Conditions in Chicago
Vivian L Jan…, Real Estate Pro in Crown Point, IN
Vivian L Jankauskis answered:
How much is the first time Home buyer tax credit motivating you to get out and buy before April 30th?
For first time home buyers it is 10% of purchase price up to 8,000. For existing homeowners it is up to $6500. You must have a contract by April 30th and close by June 30th.
0 votes Share Flag Mon Nov 15, 2010 Market Conditions in 60657
Newman-Mitri…, Real Estate Pro in Near North Side, Chi...
Newman-Mitrick RE Group answered:
Have rental prices decreased over the past 6 months in chicago?
Absolutely. When real estate isn't doing well then the number of people who are looking to rent vs buy tips much more towards renters. This means there is an abundance of tenants ... more
0 votes Share Flag Fri Jan 8, 2010 Market Conditions in Chicago
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
West town storefront rents per sq/ft
It can vary a lot depending on how far West you want to go. The rental storefront market has gone into the toilet....good for tenants & buyers of mixed use buildings. There is a ton ... more
0 votes Share Flag Wed Oct 28, 2009 Market Conditions in 60622
Wayne Beals, Real Estate Pro in Chicago, IL
Wayne Beals answered:
Which markets are selling well in Chicago?
Hey Cindy,

I saw a couple of your questions, and I'll try to address them as well as this one.

All markets are still selling as long as the pricing is correct. The bottom li ... more
0 votes Share Flag Fri Oct 16, 2009 Market Conditions in Chicago
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
Do you think the government is going to extedn the $8000 tax credit.? if so how long?
NO one knows answer HOWEVER if they announced today many people who would have an interest close prior to 11.30.09 would delay process.

Most likely government if extend may not anno ... more
0 votes Share Flag Thu Oct 29, 2009 Market Conditions in Chicago
Stacy Karel, Real Estate Pro in Chicago, IL
Stacy Karel answered:
what was the selling price of the last 3 one bedroom condos in my building 7337 Siuth Shore dr 60649?
19,250 and 20,000. There is a unit Pending at 15,800- do not know the final selling price. These foreclosures will have to clear out...
0 votes Share Flag Wed Oct 10, 2012 Market Conditions in South Shore
Paul Blackbu…, Real Estate Pro in 60611
Paul Blackburn answered:
Is the East Garfield Park neighborhood going to get any worse or is it going to eventually sustain?
Hi John,

You've asked a question that I've heard time and time again. I guess it depends on exactly what area you are talking about. Many people have called certain parts of Garfield ... more
0 votes Share Flag Sat Aug 8, 2009 Market Conditions in 60612
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
Hi! I have rented out my 3BR/2BA condo in Hyde Park and would like to understand the rental real estate
The rental market in Hyde Park seems to be about like it is in most areas of the city. It tends to favor the tenant over the landlord. If anything, there are more 'nominal' rent concess ... more
0 votes Share Flag Tue Jun 19, 2012 Market Conditions in Hyde Park
Karen Breen…, Real Estate Pro in Chicago, IL
Karen Breen Elia, ABR, CRS answered:
I am looking to buy a condo in Chicago for a reasonable price with good prospects for appreciation in the
I don't mean to sound pessimistic, but I don't know if the term "hot neighborhood" hasn't gone the way of the dinosaur. I believe that the new mortgage guidelines will prohibit any ne ... more
0 votes Share Flag Tue Jul 14, 2009 Market Conditions in Ravenswood
Kipp Blackbu…, Real Estate Pro in Chicago, IL
Kipp Blackburn answered:
Have rental prices decreased significantly in Chicago over the past year or are they pretty much stable?
Rental prices are down 5-10% in Chicago.
0 votes Share Flag Mon Jun 15, 2009 Market Conditions in Chicago
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