Archive for October, 2008
October 9, 2008
It has happened so many times in the past that it really could not have been too unexpected. The pain of yet another crushing playoff loss still lingers, however. Perhaps it was the symbolism and equanimity of 100 years or the thrilling way they played for much of the regular season. There truly seemed to be something different about this team. Unfortunately, they were not as different in the one category where it mattered–winning in the postseason.
Sure, the North Side is down about the latest Cubs collapse, but one of the great things about Wrigleyville is how resilient it is. You shove it down and it keeps getting back up. At least there’s no need to worry about that ban on alcohol sales after clinch games in and around Wrigleyville. It never got to the point of actually having to look at a map and figure out where the mayor decreed the confines of the neighborhood ended. It will be interesting to see if Hizzoner tries that one again should the team be fortunate enough to make it back to the postseason.
For now there are open houses on tap to check out this weekend. What better way to spend a beautiful early fall afternoon then touring some of these listings. At least parking won’t be much of a hassle and you don’t have to worry about drunken revelers hurling on your would-be doorstep.
821 W ROSCOE St #1
Price: $699,000
Beds: 4
Baths: 3
Open House: Sunday, October 12, 11:00 AM – 1:00 PM
3133 N LAKEWOOD Ave #2C
Price: $679,900
Beds: 4
Baths: 3
Open House: Sunday, October 12, 12:00 PM – 2:00 PM
1750 W GRACE St
Price: $598,500
Beds: 4
Baths: 2
Open House: Saturday, October 11, 12:00 PM – 3:00 PM
October 9, 2008
It’s fall and everything is beautiful, except for that telltale heart beating on under your floor, reminding you of the economic apocalypse. Suze Orman’s been on Oprah, suggesting creative ways to bite the bullet and spend less money. Most blogs are doing the same thing: telling you things you should already know by now.
If you’re already a North Shore resident, it’s possible you might have a vacation home. If you didn’t know it, the North Shore itself is also a beautiful place to be in October. During this time where mini-vacations are replacing those big European vacations, think about renting out your home or your vacation home for a couple of the best weeks of the year. While this tax break isn’t new, it’s not one that many people know about. If you rent your primary or secondary home for less than 14 days of the year, that income is non-taxable (this is one among many smaller breaks for short-term renting).
If someone wants to enjoy your beautiful lakeside Winnetka home, for example, take advantage of the Winnetka Art Walk going on around town this month, and see if some out-of-towners down South would like to see some foliage. I know I would.
I’ve done this with a property on Cape Cod (but they were very, very trustworthy renters) and it was a fantastic way to pay the year’s property taxes, without having to work all that hard. If your home is on the market right now, this could ease the pain during this valiant economic struggle of ours.
130 WHITEBRIDGE Ln
WINNETKA, IL 60093
Price: $1,480,000
Beds: 3 On Redfin: 178 days
Baths: 2.1 Year Built: 1958
292 SHERIDAN Rd
WINNETKA, IL 60093
Price: $1,595,000
Beds: 5 On Redfin: 30 days
Baths: 4.1 Year Built: 1910
756 LINCOLN
WINNETKA, IL 60093
Price: $999,000
Beds: 4 On Redfin: 120 days
Baths: 2.1 Year Built: 1922
October 7, 2008
You’ve seen those lovely pied-a-terre’s in Lincoln Park and often let yourself dream of owning one. You know, perhaps something off the park, several bedrooms, a fantastic kitchen. Oh, and don’t forget parking. Now, this is a free-standing house, I don’t want to pay assessments, and give it some curb appeal. Not long ago this would have cost you at least $1 million or so. These days, however, the price on those dream homes has come down dramatically.
Here are a couple of beautiful 4-bedroom listings in Lincoln Park for under $700,000:
Single Family Home
2128 N BISSELL Ave
Price: $670,000
Beds: 4
Baths: 3.1
Sq. Ft.: 2,400
$/Sq. Ft.: $279
Condominium
1982 N MAUD St #P
Price: $679,000
Beds: 4
Baths: 2
Sq. Ft.: 2,600
$/Sq. Ft.: $261
Here are some other Lincoln Park properties that have recently seen price reductions:
2515 N SEMINARY St #E
Original List: $829,999
Current Price: $789,900
Beds: 4
Baths: 3
Sq. Ft.: 3,000
$/Sq. Ft.: $263
1724 N MOHAWK #1
Original List: $819,900
Current Price: $775,000
Beds: 3
Baths: 3
Sq. Ft.: 2,400
$/Sq. Ft.: $323
641 W WILLOW St #202
Original List: $939,000
Current Price: $899,000
Beds: 4
Baths: 3.1
Sq. Ft.: -
October 6, 2008
Yikes–just when I speak so fondly of Evanston, they go and raise property taxes on everyone. The amount varies, depending on particular homeowner exemptions that eat some of the increase, but many people are seeing a nine to 15 percent jump in taxes. While this increase will help pay back debts to the city and fund programs for the increasingly needy population in this diverse neighborhood, many people are squawking about the hike.
Aside from the alleged need for cash on the city council’s end, Evanston is going to see some dramatically different property assessments from the time this increase was proposed. Since last October, the average listing price has dropped nearly 10 percent in Evanston. Unfortunately, the next property assessment won’t happen until 2010. In other words, the tax hike doesn’t match the decrease in assessment or property value.
Do you think this hike was necessary? How do you think this will affect the already depressed sales in the area?
My solution? Talk to your aldermen. In the meantime, here are some Evanston steals:
1920 LAKE St
EVANSTON, IL 60201
Price: $200,000
BEDS: 4
BATHS: 2
1136 HARTREY Ave
EVANSTON, IL 60202
Price: $167,750
BEDS: 3
BATHS: 2
1819 LEMAR Ave
EVANSTON, IL 60201
Price: $160,000
BEDS: 2
BATHS: 2
October 5, 2008
So I’ve come across a true find during my week here in NYC – and I just had to share it with the Redfin posse.
Being sorta ADD (okay fine - really ADD) most books keep me interested for a max of about 2 pages before I either A) begin snoring or B) toss said book across the room in disgust.
Happily, neither happened when I cracked open “A Million Bucks by 30: How to Overcome a Crap Job, Stingy Parents, and a Useless Degree to Become a Millionaire Before (or After) Turning Thirty” by Mr. Alan Corey. This book about how Alan, 29, managed to turn a $40k entry level job in tech support into an actual cool million just by (gasp!) saving his money and making smart real estate choices, all of which he details for us, was SO good and SO much fun to read that I read it cover to cover in a single day. No lie. Now that’s some darned good writing, lemme tell ya.
It helps that I know Alan and that he is a real actual person, not some “how-to-make-jillions-overnight-in-real-estate-infomercial” faker. But, to be fair, I was actually planning to pretend to read it and just tell Alan it was really really good. But no, I found I actually could…not…put it….down. Like a really juicy novel but it was all about real estate. Go figure!
Now in the past 12 years, I’ve flipped properties, bought (and sold) tax properties, and bought, renovated, and sold houses often without an agent - and all at a nice profit. Plus I got this here “blog” thing going on. So I tend to let it go to my head and think I know a whole lot about real estate. But the reality is there is always more you can learn! So it was great to actually learn something from this book – which means if you are reading this blog, trust me, you will too.
If you’re passionate about real estate investing – or even just like money – you should do yourself a favor and buy it on Amazon – NOW.
Ok, now y’all can’t say I never gave you any ‘good’ advice here.
And once you are done reading it, go check out some of these brand spanking new bargains:
Price: $144,900
| Beds: |
1 |
| Baths: |
1 |
| Sq. Ft.: |
- |
| Lot Size: |
- |
| Property Type: |
Attached Single Family, Condo |
| Floor: |
1 |
| Area: |
Lincoln Square |
| On Redfin: |
2 days |
Price: $130,000
| Beds: |
0 |
| Baths: |
1 |
| Sq. Ft.: |
- |
| Lot Size: |
- |
| Property Type: |
Attached Single Family, High Rise, Studio |
| Year Built: |
1973 |
| Exposure: |
West |
| Floor: |
12 |
| Area: |
Uptown |
| On Redfin: |
2 days |
Price: $267,900
| Beds: |
2 |
| Baths: |
1 |
| Sq. Ft.: |
800 |
| $/Sq. Ft.: |
$335 |
| Lot Size: |
- |
| Property Type: |
Condominium/Townhouse/Apartment |
| Year Built: |
2009 |
| Seller Type: |
By Owner |
| Condition: |
Resale |
| On Redfin: |
1 day |
 New Listing (24 hours) |
October 3, 2008
There is a pile of open houses, waiting to be examined throughout Evanston this weekend. I plucked a few newer construction units from the pile, because I have a sweet spot for sleek facades and the resulting amenities (I also like old, 1920’s-style, knotty-pine floors and walls, so don’t judge). These units are all under $500k, with great proximity to the Purple lines and lots of fun stuff downstairs. If you’re looking into condo living, look here first:
Sun, Oct 5 1 – 4 PM:
1651 CHURCH St #1651
EVANSTON, IL 60201
Price: $388,900
Beds: 2 On Redfin: 6 days
Baths: 2.1 Year Built: 2008
Sun, Oct 5 2 – 4 PM:
807 DAVIS St #704
EVANSTON, IL 60201
Price: $478,500
Beds: 2 On Redfin: 16 days
Baths: 2 Year Built: 2005
Sun, Oct 5 2:30 – 4:30 PM:
900 GROVE St #4
EVANSTON, IL 60201
Price: $310,000
Beds: 1 On Redfin: 17 days
Baths: 1.1 Year Built: 2000
Sun, Oct 5 12 – 2 PM:
1640 MAPLE Ave #404
EVANSTON, IL 60201
Price: $425,000
Beds: 2 On Redfin: 62 days
Baths: 2 Year Built: 2002
October 2, 2008
After peeking through the stats and trends for the North Shore, particularly along the waterfront, you might find that homes are mysteriously retaining their value. Evanston has seen a much more volatile market than its suburban neighbors, with several more foreclosures and major price reductions that Winnetka, Wilmette, and Highland Park have not seen yet.
Are stable prices a good thing? Of course. But living in Evanston still remains as the most accessible communities on the Shore, both economically and in its location. With significantly more condos on the market, the condo micromarket has actually remained more stable than single-family home prices. First off, Evanston allows a lot more development than its surrounding towns, sacrificing that untouchable, preserved village atmosphere for commercial business and (some would say, more practical) growth.
The relative volatility in Evanston prices reflects the market as it stands right now, much more than its anomalous neighbors. Is that a reason to love Evanston? It’s not the only one, but it does mean that I can afford a condo here.
486 SHERIDAN Rd #1
EVANSTON, IL 60202
Price: $214,900
Beds: 1 On Redfin: 2 days
Baths: 1 Year Built: 1926
826 JUDSON Ave #5
EVANSTON, IL 60202
Price: $265,000
Beds: 2 On Redfin: 80 days
Baths: 1 Year Built: 1926
723 SIMPSON St #3
EVANSTON, IL 60201
Price: $192,000
Beds: 1 On Redfin: 9 days
Baths: 1 Year Built: 1918
