Market Conditions: Crain’s Reports On What We Already Know: Inventory Sucks!

We’ve been chattering about the low inventory for the last two months. Crain’s confirms that in some Chicago neighborhoods and suburbs, it is below 3 months.

As of the end of 2012, the neighborhood with the lowest inventory level was the South Loop at just 2.3 months of supply.

The number of listed homes fell the most in the Near South Side, a community including the South Loop. A division of New York developer Related Cos. recently relaunched sales of about 500 units in three failed South Loop towers pulled from the market last year, but only a fraction are currently listed for sale.

It’s still slim pickings for many buyers in the neighborhood who can’t compete with investors paying cash, can’t finance a purchase in a building full of renters or don’t have the patience for banks to approve a so-called short sale, a red tape-heavy transaction resulting in a loss for the lender. Nearly 44 percent of all sales on the Near South Side last year were distress-related, according to MRED.

Trying to buy a loft near the Randolph Street restaurants? Good luck. Inventory is at just 2.4 months. Interestingly, several neighborhoods outside of the GreenZone also are at super low inventory levels.

Here’s the worst city neighborhoods according to Crain’s:

  • South Loop: 2.3 months
  • Near West Side: 2.4 months
  • Avondale: 2.8 months
  • McKinley Park: 3.1 months
  • Washington Park: 3.2 months
  • Douglas: 3.5 months

Though the supply drop means buyers have fewer choices and less leverage in negotiations, it’s good news for many sellers, who can sell their homes more quickly than before — and have more power to hold the line on prices.

Indeed, local home prices have stopped falling. The S&P/Case-Shiller index of Chicago-area single-family home prices rose 2.2 percent last year, the first annual gain since 2006. Still, that was the weakest year-over-year gain of the 20 cities tracked by S&P/Case-Shiller.

The local residential market still faces challenges. Foreclosures and distress remain a problem in many neighborhoods and suburbs, and many homeowners are still “underwater,” owing more on their mortgage than their home is worth.

How much will prices have to rise before we start to see a lot more inventory?

Or will we be stuck in this low inventory market for years?

Inventory reduction: number of local homes for sale falls [Crains Chicago Business, David Lee Matthews, February 28, 2013]

93 Responses to “Market Conditions: Crain’s Reports On What We Already Know: Inventory Sucks!”

  1. I think inventory will increase however it won’t be enough to satisfy demand. Prices will increase accordingly.

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  2. Won’t more people list then if they think they can actually make some money?

    Obviously, it’s a supply and demand equation. The stock market is at record highs. If you’re in a certain price bracket you’re feeling great about things again. You want to buy a house (low rates also help.)

    Eventually, we’ll also finally have the move up sellers getting into the game. But when?

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  3. Sabrina,

    As this entry notes, there are buildings with high renters so people can’t get financing in this building. Many owners probably want to sell Why don’t you do an article on how to sell in these buildings. Many offering at once so that with purchases rental rates go down and financing is available. Option contracts etc…

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  4. Yes Sabrina, more people will list (inventory increase). Their are move up sellers out at this very moment.

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  5. Is this the bottom or a false bottom?

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  6. I think low inventory and prices is just part of the story lately. I see lots of homes being listed and am receiving emails throughout the day with new listings. More than I remember at this point last year but what is definitely different is that places are going under contract in a week or less and lately I’ve actually seen houses being priced more realistically.

    One home listed all last spring/summer around $629k got one reduction to $599k in the fall and then was pulled over the winter. It was just relisted at $519k. I also see more price cuts recently. I think people are starting to see sales and starting to realize if they don’t sell quickly that the price must indeed be wrong because most other places are disappearing.

    I think buyers won’t be too keen on paying higher prices even with low inventory as houses keep coming on the market. I see prices stabilizing rather than going up or down huge amounts.

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  7. sellers have finally capitulated! it’s taken 6 years but we’re finally here!

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  8. CS and the IL realtor numbers both show slight increases in prices.

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  9. Signs of the times:
    1) Got a call from a renter yesterday whose rent just got jacked up 30%. Not a typo. He’s decided it’s time to buy.
    2) For some buyers I’ve taken to mailing their target properties to see if anyone is thinking of selling.

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  10. What’s interesting is how this inventory situation has materialized across the entire country at the same time. Must be some kind of cosmic consciousness among sellers. Is it that everyone who could afford to sell has sold? And how will buyers react now? Some who can now break even on a sale might say “Finally I can sell!” Of they might say “If I wait just a little bit longer….”

    What really perplexes me is the move up buyer who wants to wait to get more for their current property but is going to end up taking a bigger hit on the next house they buy. And I know for a fact that these people exist. It makes no sense.

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  11. “Got a call from a renter yesterday whose rent just got jacked up 30%.”

    its seems like all these magical rent hikes are only happening in certain popular nabes.

    my guy over in jeff park has been paying the same rent for 6 years now actually they lowered it but $25 last year i think. My wife’s spa/nail buddy has been in here edison park rental for 4 years and has not had an increase since. The girl the does my hair has been renting in north park area for about 4 years also and hasnt seen a rent hike.

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  12. i have a few dozen properties saved in redfin at any given time, and im shocked at how fast things are selling. anything remotely nice is selling within a few weeks, all near list. i have noticed that the nicer suburbs (winnetka, wilmette, glencoe, HP, LF, barrington) are selling the fastest and with the smallest discount to list price.

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  13. my rent went up20% for the next tenant after I moved out of my rental. my mortgage is more than double my rent but than again I have a sfh not an apartment. and access to an excellent free local public school is invaluable.

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  14. Even though I bought last year, I still watch the listings daily. It is such a big difference from this time last year. I had been looking at south loop 1 and 2 bedrooms, and there used to be plenty out there. I see next to nothing now.

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  15. Homes in our non-GZ neighborhood are usually under contract in a month. Especially the old lady estate sales, where the home hasn’t been updated since 1960. Young families seem to buy them up quickly and start the rehab.

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  16. “Obviously, it’s a supply and demand equation. The stock market is at record highs. If you’re in a certain price bracket you’re feeling great about things again. You want to buy a house (low rates also help.)”

    Mediocre prices at low supply doesn’t bode well for higher prices, because more supply will act as a downward pressure on price. The stock market is doing its damndest to try and break through massive resistance at the 20007 and 2000 highs. If it break through, then we could see more asset value appreciation, if it does not, then the stock market might cease to be fuel for housing market demand.

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  17. Groove, I don’t think Edison Park has ever been a big market for renters. I don’t think it would be representative of what’s going on in the overall City rental market.

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  18. Same here in Albany Park.
    There are barely any listings.
    Out of the areas I’ve been searching, only Rogers Park and West Ridge still have a glut of condos.

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  19. “What really perplexes me is the move up buyer who wants to wait to get more for their current property but is going to end up taking a bigger hit on the next house they buy.”

    Gary, what about move up buyers who can sell but can’t find anything to buy? That is our current situation.

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  20. Gosh where is all that shadow inventory and explosion of forclosures you clowns were all predicting would destroy the South loop values another 50%, hrm?

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  21. We are in the market now (focusing far NW side) and have had 4 properties we were interested in receive offers before we had even time to tour them (all on market less than a month).

    We put an offer on one place and lost out to a competing offer. Monday night we went to go look at a fixer-upper property. Our appointment was delayed 20 minutes by other sellers who were touring house and would not open the door to share the tour. By the time we left, we had run into 4 other buyers looking to view this place.

    We have time to work with so are trying not to get caught up in any hysteria, but have learned that if we see something we like pop up that is priced correctly, we will need to move fast. I have to admit I am kicking myself a bit for not buying last year. I figured the market had hit bottom in spring of last year, but hoped the price stabilization would result in much more inventory this year (the reason why we waited). Still, hoping to see that happen once more people gain awareness of just how quickly this changed to a seller’s market (particularly for those who didn’t buy or cash out their properties during the bubble).

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  22. Sonies, just read the JPMorgan is laying off like 10,000 people, mostly in their mortgage default group.

    http://www.washingtonpost.com/business/economy/jpmorgans-says-a-lot-about-the-housing-market/2013/02/27/36544ffe-7d11-11e2-a044-676856536b40_story.html

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  23. “access to an excellent free local public school ”

    Public schools aren’t free dipshit, you’re paying for that with your property taxes

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  24. “Public schools aren’t free dipshit, you’re paying for that with your property taxes”

    Yes, and likely paying more for a school that has no better outcome for its students than we see in many city schools discussed here, which is amusing.

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  25. “What really perplexes me is the move up buyer who wants to wait to get more for their current property but is going to end up taking a bigger hit on the next house they buy. And I know for a fact that these people exist. It makes no sense.”

    Simple, most can’t bring money to the table plus have money set aside for the next downpayment.

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  26. Just putting it out there –
    There are deals right now on super-cute brick bungalows and raised ranches with mid-century modern details – around the Kedzie and Pulaski Orange Line stops in Gage Park and the Midway Airport stop in West Elsdon.
    Not that those neighborhoods appeal to the Cribchatter set, admittedly…
    But I considered the area because they are convenient enough and I don’t think they are that bad crime-wise and it’s crazy how cheap houses are.
    I didn’t end up pulling the trigger though because I felt like I’d have zero social peers if I lived out there and I didn’t think there’d be a great tenant base either for rentals.
    I just wonder why gentrifiers don’t move into areas like that with convenient public transportation and decent shopping and services as opposed to areas like western Humboldt Park or Logan Square that aren’t actually all that affordable and don’t have many transportation options.

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  27. So glad we bought last year. We have contemplated selling now and making some money but there is nothing much to buy, what is out there is a lot more expensive than last yr (in LV-Southport Corridor) and we pay way less in mortgage than we would in rent (or a new mortgage) right now.
    I went to an OH in the SL and there were at least 50 people there. Sellers got 19 offers when all was said and done. SL has so so little inventory, it’s bizarre.

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  28. “Yes, and likely paying more for a school that has no better outcome for its students than we see in many city schools discussed here, which is amusing.”

    And where does he buy a city SFH w a good elem for whatever he paid incl reno (which I’m guessing sub $250)? Never mind high school. All a matter of tradeoffs. Hard to say his choice is clearly wrong (i.e., dominated by another choice that gives him everything he has plus more, or more cheaply).

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  29. “Groove, I don’t think Edison Park has ever been a big market for renters.”

    actually it is, there is a huge rental base and with the unsellable condos over there the base keeps growing.

    “I don’t think it would be representative of what’s going on in the overall City rental market.”

    very true but judging loop/sloop/lp/lv/ls rental market is also not the overall city rental market either

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  30. vj- the schools are better out here. test scores mean a lot but aren’t everything.

    sonies: they are free. unlike the city where you pay property taxes for shifty schools and then pay additionally for private school tuition on top of that. everyone shares the cost of public schools in long grove unlike the parents who bear the costs of private schools.

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  31. Interesting Vlajos, JPM is also getting rid of a lot of originators as well, and are basically getting out of that business, and have admitted that they will not focus on that as a large source of revenue anymore.

    This whole housing thing is happening a lot faster than I expected. I think the Streamline underwater re-fi program helped a lot of people pay down principal faster and save a lot more money. It is certainly helping us and we’ll be ready to buy a move up property in 3 years or maybe less!

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  32. “sonies: they are free. unlike the city where you pay property taxes for shifty schools and then pay additionally for private school tuition on top of that. everyone shares the cost of public schools in long grove unlike the parents who bear the costs of private schools.”

    Um… no, your argument doesn’t even make sense dude… go grab another cup of coffee. Not everyone pays for private school, there’s hundreds of thousands of kids in the CPS system, where do you think they all come from?

    You (long grove resident) pay for your “better” school with higher property taxes. /end of argument

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  33. ” Our appointment was delayed 20 minutes by other sellers who were touring house and would not open the door to share the tour. By the time we left, we had run into 4 other buyers looking to view this place.”

    so whats the great philosophy again?

    if everyone is running towards something, run the other way

    if everyone is running away from something, then you run towards it (excpet if its godzilla)

    really if you think about it its like bieng at a bar with a bunch of uggo 2’s and 3’s then a 5 walks in and everyone jumps at it. the ones that miss out on the five settle for the 2’s and 3’s and leave. the guy that waits, even if a couple of nights if he has too will then pounce when a 10 walks in scoops her without any competition
    thats what you are seeing in the chicagoland market is a buch of lagging 2’s and over priced 3’s one a 5 or 6 is listed then everyone jumps at it. BE THE TORTOISE AND LAND THE 9 OR 10!!

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  34. HD: “my mortgage is more than double my rent ”

    By ‘mortgage’ you mean piti, right? Seriously curious, as there’s little consistency in how it’s used.

    DZ: “where does he buy a city SFH w a good elem for whatever he paid incl reno ”

    Yeah, *this* Vlajos. Condo isn’t an answer. TH isn’t an answer. West of Cicero/north of Lawrence isn’t a (serious) answer, as moving just a *bit* further north means you don’t have *any* HS issue.

    DZ: “whatever he paid incl reno (which I’m guessing sub $250)?”

    No chance it’s that little, including the reno. None. Call it sub-$400k, but the point remains: where, in a east of Cicero hood with a “good” a/a elementary, is that $400k (ok, $500k, if some flipper did the reno–the turnkey premium) SFH?

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  35. ” there’s hundreds of thousands of kids in the CPS system, where do you think they all come from?”

    That’s a straight line for a journey we all (I hope!) don’t want to take today.

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  36. Agree anon, we’ve had enough school discussion and racism to last months over the last few days…

    and good points groove, especially re: godzilla

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  37. “Gosh where is all that shadow inventory and explosion of forclosures you clowns were all predicting would destroy the South loop values another 50%, hrm?”

    Exactly.

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  38. “really if you think about it its like bieng at a bar with a bunch of uggo 2?s and 3?s then a 5 walks in and everyone jumps at it. the ones that miss out on the five settle for the 2?s and 3?s and leave. the guy that waits, even if a couple of nights if he has too will then pounce when a 10 walks in scoops her without any competition
    thats what you are seeing in the chicagoland market is a buch of lagging 2?s and over priced 3?s one a 5 or 6 is listed then everyone jumps at it. BE THE TORTOISE AND LAND THE 9 OR 10!!

    Groove for you, face the facts: “Go ugly early.”

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  39. its a unique time, that is for sure. we were going to sell our condo in lincoln park but decided to rent it isntead. rents will more then cover the mortgage plus some for the next year or 2. If you are going to take a loss can still move somehwere instead of bringing that money to the table. renting is a great option for homeowners…

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  40. “That’s a straight line for a journey we all (I hope!) don’t want to take today.”

    That’s excellent anon(tfo). Finally, some progress has been made and now we don’t have to spend all day refuting politically correct deniers of reality. Bravo CC.

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  41. “and good points groove, especially re: godzilla”

    not saying that back in grooves single days i didnt drink too much and didnt go home with godzilla once or twice. we all have done it just afraid to admit it. and in the end nothing bad happened, everyone was happy, we all learned something new, and the breakfast was good.

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  42. HD: You need to add one to your “builders build, lenders lend” thing:

    trolls troll.

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  43. “And where does he buy a city SFH w a good elem for whatever he paid incl reno (which I’m guessing sub $250)? Never mind high school. All a matter of tradeoffs. Hard to say his choice is clearly wrong (i.e., dominated by another choice that gives him everything he has plus more, or more cheaply).”

    To accurately answer that we would need to know the actual numbers not what he’s provided through is Obfucation Filters. That’s only slightly less complicated than a Groove to English translator.

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  44. @Groove, exactly. That Monday night experience was the one that told us its okay to take a step back and wait for more inventory.

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  45. anon(tfo) so I’m a troll now? well, then, I’m going to take my ball and go home to my awesome SFH in long grove away from the trash in the city. Good bye.

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  46. You’re a shtick in the mud hd

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  47. “anon(tfo) so I’m a troll now?”

    Are you daft? Or have you been drinking already this fine Friday? Look at the comments in this thread, and get back to me if you can’t figure out what I was referring to.

    (oh, in case you’re just especially dense today–long grove does dull the mind–no, I was not talking about you being a troll)

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  48. Yeah what about all that Shadow Inventory we were hearing about? Are the banks playing the same game sellers are?

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  49. We never did see the post superbowl inventory increase did we?

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  50. Have any of you heard anything about this? I’ve spoken to a few SFH builders that said they want to build a lot more new construction in 2013, but the city has new process / system for issuing permits… And the new system is taking signifcantly longer than last year. I wonder if this is also part of the lack of supply as well.

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  51. Here in Aquamarine Zone Avondale I feel the same way. Unlike some of my fellow citizens, taking my kid 2 miles to school (which takes all of 10 min. early in the morning) falls under my definition of “local.”

    Speaking of (and my last school comment, I swears it), we got a note from Hamilton’s principal they got 500 more applicants for Kindergarten than they can handle. They need to clone that guy and install him all over the City.

    “my rent went up20% for the next tenant after I moved out of my rental. my mortgage is more than double my rent but than again I have a sfh not an apartment. and access to an excellent free local public school is invaluable.”

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  52. “and access to an excellent free local public school is invaluable.”

    Actually, I think you can value that.

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  53. “I’ve spoken to a few SFH builders that said they want to build a lot more new construction in 2013, but the city has new process / system for issuing permits… And the new system is taking signifcantly longer than last year.”

    Huh. So the supposed plan to *ease* permitting hasn’t worked (at least yet)?

    Anything like that makes me wonder–is it the system, or is it the longterm employees refusing/unable to implement change effectively? Usually, in Chicago, and in Illinois generally, I think that gubmint employee refusal/inability to adapt plays a significant role.

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  54. “I’ve spoken to a few SFH builders that said they want to build a lot more new construction in 2013, but the city has new process / system for issuing permits… And the new system is taking signifcantly longer than last year.”

    This is true, but its not an impediment. “Significantly longer” for the permiting process is not at all significant in the scheme of a build cycle in Chicago. Compared to the suburbs you can pretty much do what you want when you want in the city.

    Most established builders had the new system down last year. The ones most likely to struggle with this change are the new, or reemergent, class of part time builders trying to make a buck in this market. Beware.

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  55. off topic: Given that everyone is an expert on schools here: if one wants their kid to get to a selective daycare, is there any thing one can do to help the odds? Say donate some money or something or it looks bad?

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  56. @Skeptic,

    i am up next for the CPS admittance dance, hit me up at Groove77cc at yahoo dot com, i got a few questions.

    also for class size what did you see this year for the K level? and was it higher than when you kid was in K?

    “Speaking of (and my last school comment, I swears it), we got a note from Hamilton’s principal they got 500 more applicants for Kindergarten than they can handle. They need to clone that guy and install him all over the City.”

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  57. “Given that everyone is an expert on schools here: if one wants their kid to get to a selective daycare,”

    are you being sarcastic and calling pre-k a renamed daycare?

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  58. I have a 3-bed condo in Albany Park — tried to short sell it. Got two offers, one was all cash. Bank rejected both offers. Took condo off market, now trying to hand over deed back to bank or have them foreclose on the property. There is some of your shadow inventory.

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  59. lol…I actually don’t know the names of all the damn schools. I am sending a 2 year old there is that called pre-K?

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  60. “I am sending a 2 year old there is that called pre-K?”

    south loop school is a full day pre-k, its not selective as its tuition based. you will still have to go through the regular process for Kindergarden.

    and if IIRC i think south loop is out of Selective enrollment for the newer grades but is keeping its older grades until they filter out.

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  61. “I am sending a 2 year old there”

    it didnt click until now, but i dont know any pre-k’s that take under 3 year olds.

    i think your sending your kid to daycare and yes there are some daycares the “kind of” feed the SEES but still the process is the same for everyone its just *elite daycares will prep a 4 year old better thats all.

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  62. Milkster asked why gentrifiers are not buying in areas with exc. public trans & shopping like near the Kedzie, Pulaski & Midway Orange line stops, paralleling Archer Ave.
    In my experience gentrification moves incrementally block by block so slowly. My answer to your question is that gentrification has been occurring slowly in Bridgeport (so e of Halsted to Ashland) & even more slowly in McKinley Park (near Western Ave stop). There is a cc poster pioneering In McKinley Pk who pitches the benefits of buying & living there. I like certain SFH opportunities in the areas you mention – 60 y.o. raised ranchs in Archer Hts. that sold for $300K at height of bubble were buyable for $60-$70K at sheriff’s sales in past 2-3 yrs and now trade around $125K +/- (commercial prop is even of a more a deal). The issue for prospective gentrifiers is that all of these nabes west of Bridgeport have gang banger shootings, car break ins & burglary issues with little likelihood of those evaporating in next 15 – 20 years.
    And a few good restaurants I’ve enjoyed in case you visit Archer/ Pulaski area – for sit down tacos etc I love Los Mangos, @ 4888 S archer – great family vibe. For quick tacos I like Paco’s @ 6034 S or Zacataco @ 5925 S Pulaski. For a Baker Sq style sit down vibe try Cocula @ 5241 S Pulaski. Las Islas Marios @ 5101 S Pulaski has excellent fish cheap. Forget formerly good family diner Pindos on NEC Archer & Pulaski but if you are adventuresome try either goat @ Bierrieria Zaragza – 4852 S Pulaski or pierogies at Szalas – a Polish club house joint where you have to pull a chain to ring their bell to get in (I only like it for lunch).

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  63. Southbound sure knows a lot of food joints… maybe southbound is in reference to the direction his moobs are traveling

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  64. Sonies suggests my moob are heading sb. I don’t know what a moob is but I’ve put 56K miles on my car since 6/11 which put me in front of a lot of neighborhood joints.

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  65. And I posted these in defensive reaction to an asshole’s suggestion yesterday that in order to know joints I recommend I must live within 2 blocks. Speaking of which – hey Groove at least someone playing pickup at closing time per your strategy wouldn’t have to worry about any competition from that asshole unless they switched the gender they targeted .

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  66. Southbound, that is awesome.
    Thank you for all the info.
    I am fascinated by those Orange Line neighborhoods and the homes out there, but I have no clue as to whether the gang situation is going to improve or deteriorate over time.
    It’s like do I take a chance on it or not?
    Also, your mad skillz knowledge of spicy ethnic food rivals Dannyhofer’s ;)
    I love CC restaurant recommendations.

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  67. “we got a note from Hamilton’s principal they got 500 more applicants for Kindergarten than they can handle”

    Is 500 high?

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  68. “Is 500 high?”

    Hamilton is not a magnet, correct? So those are just ‘open enrollment’ applications, right?

    If I’m wrong, not high at all. If I’m right, that’s fairly high, afaik.

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  69. “If I’m wrong, not high at all.If I’m right, that’s fairly high, afaik.”

    Yeah, not magnet. Just wondering bc it was hard to fill out all the 20 slots on our application. And some of the schools that are listed as “available” to be selected might have almost no, or actaully no, spots for K entry (maybe they are on bc they expect to have slots in other grades). So I wonder if most northsideish parents will apply to virtually all the plausible+ elems.

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  70. Milkster; You’re welcome but please don’t mention any aspect of that a-hole in any comparative way to me – it’s extremely offensive to me. Gang situation is likely to continue as is or worsen west of California for next 20+ yrs imo. Why take a chance when there are similar priced opportunities in better location – I saw a small brick apt building within blocks of 35th & Halsted that could be bought moderately rehabbed for under $300K. But there’s always a reason for a low price – imo current owner thought he got a deal investing here & fixing it up until he learned how little rent Chinese immigrants can afford. My play if I could convince my wife to live there would be to combine 2 apts into owners unit and collect whatever rent students or immigrants can pay. I believe value there will increase and very little gang situation in that area.

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  71. “What really perplexes me is the move up buyer who wants to wait to get more for their current property but is going to end up taking a bigger hit on the next house they buy. And I know for a fact that these people exist. It makes no sense.”

    Do the math. Real estate is generally a leveraged investment. If the move-up buyer is constrained by the down payment they can make on their next house, it makes sense to get more for their current place so as to afford a better place even after accounting for the price increase. Say you owe $250,000 on a 2/2 If you can sell for $350,000 now net of closing costs you have $100k to roll over into the next place. If you need 20% down that can get you into a $500k place. If prices go up 10% overall, they can get $385,000 for a $135k down payment. At 20% down, this gets you into a $675k place (which was about $615k prior to the price appreciation.) If they could have scrounged up the extra cash before the run-up, they would have been better off, but I’m sure lots of people can’t. And of course Jumbo/Conforming complicates the analysis.

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  72. “Real estate is generally a leveraged investment. If the move-up buyer is constrained by the down payment they can make on their next house”

    I would rather buy a smaller move up place at a lower price but that’s me. The people I’m thinking of have the cash – or should. I think they’re suffering from loss aversion.

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  73. “I would rather buy a smaller move up place at a lower price but that’s me.”

    Even if you were ~35, with kids under 6? The diff bt what’s out there (in the ‘family home’ range, in and out of the city) at ~$500 and ~$675 is *big*.

    Not that I necessarily agree that that calculus is driving decisions except for a very few people, almost all of whom would probably be at least 3d degree LinkedIn connections to mda.

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  74. Hamilton is a magnet cluster, which I’d have to look up to even accurately describe, but the year our kid got in they we still bussing in like 1/3 the school. Groove- will shoot you an email, we are in a gifted 1st grade kindergarten combo, so not sure if it is the norm, there are 18 kids total.

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  75. Mr. Avondale: skeptic: the fact that you ship you kids to Hamilton (in Lake View, adjacent to SoPo), while you live and “talk up” Avondale and Logan Sq., is the height of hypocrisy.

    Why don’t you send your kids to Lorca? Remember, we’ve discussed this….Lorca is an extreme, archliberal Leftist school named after a non-American gay hispanic poet.

    So, Skeptic sends his kids where “white people” are. You like White people, ha ha …..admit it loser.

    How many years do have to spend on CC exposing these hypocrites? these “deniers”? It’s a pleasure to expose bullshitters.

    http://www.cps.edu/Schools/Pages/school.aspx?id=610541

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  76. Groove – I hope that by now you have grown up enough to understand that a lady who may be only a “5” (or heaven forbid a “2”) in terms of physical attractiveness may turn out to be a “10” in other qualities that, in the long run, are far more important when it comes to finding a mate or even a friend.

    And let’s hope that the good breakfasts were never offset with strange rashes or paternity suits.

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  77. An insult from our resident hold-out from the 3rd Reich is a compliment indeed.

    You’re even stupider than the guy who decided to invade Russia in the middle of winter. My kid wouldn’t be going to Lorca, dumbass. She’d be going to Avondale Elementary. I had multiple inquiries to the principal go unresponded, but more importantly, it isn’t diverse. Hamilton is actually not a “white” school (at least not yet), it was actually the most diverse school I’ve ever seen in CPS, almost a perfect 1/3 each of white, hispanic and black. That is of course accomplished by bussing, but nevertheless, I support it.

    Also a major factor was the YMCA offers day care/programming until 6 pm, which for two-working-parent households is actually the gamechanger.

    But of course I like white people – I like all kinds of people. But it has more to do with what’s inside them than the color of their skin, There are plenty of assholes in every shade of the rainbow – you are proof positive.

    “Mr. Avondale: skeptic: the fact that you ship you kids to Hamilton (in Lake View, adjacent to SoPo), while you live and “talk up” Avondale and Logan Sq., is the height of hypocrisy.

    Why don’t you send your kids to Lorca? Remember, we’ve discussed this….Lorca is an extreme, archliberal Leftist school named after a non-American gay hispanic poet.

    So, Skeptic sends his kids where “white people” are. You like White people, ha ha …..admit it loser.

    How many years do have to spend on CC exposing these hypocrites? these “deniers”? It’s a pleasure to expose bullshitters.”

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  78. “Hamilton is a magnet cluster, which I’d have to look up to even accurately describe, but the year our kid got in they we still bussing in like 1/3 the school.”

    I found the magnet cluster designation confusing when we were applying this year. Magnet clusters have some specific focus (arts, language, tech, etc.) that maybe is supposed to be attractive I guess, but in terms of admissions they are equivalent to regular neighborhood schools. There’s an attendance area withiin which everyone is guaranteed admission. If there is space available after the neighborhood kids, then students chosen by lottery, (supposedly) at random, without sibling or proximity preferences, as there would be for magnet schools.

    Also, afaik, at least as of now, bussing is not provided for magnet cluster schools (maybe this was different in the past), but is provided for most magnet schools. It seems like a v odd decision to call schools magnet clusters when they are much closer to a neighborhood schools. Blaine, burley and others you’d think of as neighborhood are magnet clusters.

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  79. DZ: “I found the magnet cluster designation confusing”

    It’s just stupid to have “magnet schools” and “magnet cluster schools” that have basically nothing in common with each other. I think they did it on purpose, to confuse the not quite paying attention parents.

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  80. CPS is for suckers.

    http://abcnews.go.com/blogs/health/2013/02/28/chicago-passes-sex-ed-for-kindergartners/

    “Under the new policy, the youngest students – the kindergartners — will learn the basics about anatomy, reproduction, healthy relationships and personal safety.”

    “For the first time in Chicago, sex-ed instruction will cover sexual orientation and gender identity. Students will be introduced to terms and definitions associated with sexual identity, including those related to heterosexual and LGBT populations, in an effort to bring awareness, promote tolerance and prevent bullying, said the school board.”

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  81. Good lord Helmet, calm down.

    Southbound, thanks for the restaurant tips. I’ve copied them to my phone for the next time I’m out exploring some new neighborhoods.

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  82. Beer too expensive on Saturday, Bob? Never had to consider any school option with ‘magnet’ in the name; maybe the diff is more apparent to someone who’s actually affected by it, but DZ indicates no.

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  83. gringozecarioca on March 3rd, 2013 at 11:29 am

    Bob… 95% of the city I live in is a cesspool… and yet life couldn’t be better…
    I just do the reverse Burt (from SOAP) and make everything I don’t want to see invisible…
    Now you on the other hand could live in utopia and still be miserable….
    Ahahahahahahahahaha!!

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  84. Speaking of beer (and well we should), Logan Square is now the home of Off Color Brewing:

    http://articles.chicagotribune.com/2013-02-28/features/chi-off-color-brewing-debut_1_dave-bleitner-laffler-and-bleitner-john-laffler

    In your face, Green Zone!

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  85. dude they are trolling you, and its obviously working

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  86. DZ- actually, I believe that magnet clusters (=neighborhood schools that get some extra money for an additional teaching position) do give sibling preference, although you are correct that proximity plays no role in admittance (outside of kids in neighborhood boundaries, of course), nor do the 4 tiers

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  87. “actually, I believe that magnet clusters (=neighborhood schools that get some extra money for an additional teaching position) do give sibling preference”

    I had to look it up. You’re totally right. But regular neighborhood schools (as well as magnets) also have sib preference, so it still wouldn’t be a basis for distinguishing magnet clusters from regular neighborhood schools with respect to admissions. (Not that you were saying it did.) I still think magnet cluster is the same as neighborhood schools for admission.

    I never realized neighborhood schools had sib prefernce. Just the one kid so never paid a lot of attention to sib policy.

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  88. The sibling policy makes it even harder for parents to get their children into schools. IIRC Disney 2 has 40 K slots open each year and 20 of them are reserved for siblings. There are over 800 apps for those 40 spots.

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  89. Yea! Let’s cheer the disappearance of the shadow inventory!! Only a nitwit, or perhaps a CC posuer living in Mom’s basement, is so naive to think that shadow inventory reflects market outlook. The number of underwater mortgages continues to grow, which is your REAL barometer of future pricing and inventory. Low interest rates are the only thing that has bailed out many homeowners, now increasing taxes will do what the mortgage payment used to-suck ‘em all dry. Illinois sucks, Chicago sucks more, it’s expensive with ZERO economic growth, Quinn’s new budget and pandering to unions will make Chicago the next Detroit.

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  90. “dude they are trolling you”

    Dude, who are the antecedents for your two pronouns there?

    Maybe it would have been clear before the deletions, but it isn’t now.

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  91. “Logan Square is now the home of Off Color Brewing”

    If they’re so Logan-proud, why’s their first event in NorthCenter?

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  92. I think you’re smart enough to figure that one out anon(tfo), even with the deletions

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  93. http://www.bloomberg.com/news/2013-02-28/winning-strategies-for-the-spring-housing-scrum.html

    Check out this Bloomberg article, SF homes in my neighborhood, Roscoe Village, are going fast but wish things were like the rest of the country described in this article. sounds like the good old days.

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