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Home Buying in South Shore : Real Estate Advice

  • All46
  • Local Info13
  • Home Buying5
  • Home Selling1
  • Market Conditions8

Activity 3
Fri Aug 16, 2013
Wayne Beals answered:
It's been a while since a one bedroom in this building closed. The two bedroom units that have closed over the last 6 months have closed between $52,475 and $107,000. The prices have slid rapidly in this building, and the assessments have risen steeply.

If you're considering buying, look carefully at the financial condition of the association and look for capital improvement plans and reserve planning. Assessments in elevator buildings can get out of control very rapidly if maintenance and reserve planning are not adhered to.

Otherwise, great location with some great views. It's a great time to buy in South Shore as the prices have moderated greatly.

Call with any specific questions.

Best of Luck

Wayne Beals
Keller Williams Chicago Consulting Group
716 East 47th Street
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Fri Aug 16, 2013
Christopher Thomas answered:
Dear Vlad,

The answer really is specific to the particular building you're looking at. There are many tremendous opportunities in the South Shore neighborhood, and there is a quite a large rental market there as South Shore has absorbed a lot of folks who were displaced by the removal of some public housing. In 2007 I was the highest dollar sales volume agent in South Shore, so I'd be happy to help you investigate good buys in that neighborhood.

Call or email me at any time.

Christopher Thomas
Broker Associate, Sudler Sotheby's International Realty
773-418-0640 (cell)
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Sun Nov 11, 2007
The Hagley Group answered:
You should hire a local Realtor to help you. If you go in to new construction with your Realtor, they are often able to save you money PLUS the builder pays them. At this point, you can either go back to the builder and tell them you have a Realtor....if they say they won't cooperate, move on. a Realtor out of your own pocket. ... more
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