Is there any possibility for a house in Alsip to fetch 130$/sq ft if it has been completely redone in last 3 years?

Asked by Malloykellyk, 46375 Tue Apr 2, 2013

New kitchen cabinets/granite/Koehler sink n toilet/roofed over front porch w cedar n can lighting/crown throughout/new roof soffit facia gutters/600sqft grouted brick patio/brand new 24foot pool n 275sq ft deck/all plumbing n electric redone inc new panel/ oak flooring thru half home/6 panel doors/ new metal ext doors 4/kids play area w jungle gym/landscaped w cobblestone n a lot of it/36inch high trimmed walls thru front room n hallway/bath redone w all tile/garage n attic storage/list keeps goin/ top to bottom rehab over 3 years

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Rita Manno, Agent, Tinley Park, IL
Mon Sep 23, 2013
it depends on the layout and what school district you are in, Alsip has 5 Grammer school districts and 2 High school district, and what area in Alsip you live in. Some areas have more Foreclosures and Short Sales than others and the age of the house as well as the size of rooms and surroundings also play a factor. Feel free to contact me and I can do a market analysis for you!! If your interested in selling don't wait to long, interest rates are going up and there are going to be changes in financing in Jan.
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Synthia Noble, Agent, New Lenox, IL
Tue Apr 2, 2013
Your place sounds awsome. It is a good time to start thinking about selling, Chicagoland tends to have a pick up in the market in the spring, plus the interest rates are still low, so buyers are buying, although they are still looking for bargains.
I would be happy to do a market anaylsis for you to help you determine the market value of your property. The previous post is correct, no matter how nice a home is, a buyer getting a mortgage is going to have an appraisal to evaluate the local market. Typically the appraiser is going to need 3 comps in the area that sold within the last 6 months at or above the contract price. In Alsip in the last six months, 63 houses have sold, priced from $40,000 to $298,000 (the top priced home was new construction). only 9 sold for more than $175,000. Interestingly, the houses that sold for more than $175,000 varied greatly in size, from 1700ft2 to 3200ft2. so going by $/ft2 might not be the way to look at the market.
let me know if you have questions, I am a full time RE/MAX agent in the south suburbs
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Geoff Ommen, Agent, Barrington, IL
Tue Apr 2, 2013
You may have built a great home, but the appraisal is going to dictate the maximum you will be able to sell it for. The details you have provided tell a lot, but there is more that needs to bee seen. Alsip has had 26 single family homes close in the last year. There have only been 2 homes that have closed at over $100/sq foot, so the odds of an appraisal coming in at $130 are low. That being said, the only way you could get a more accurate answer is by having an agent do a Comparative Market Analysis.

Geoff Ommen
Broker Baird & Warner
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