Crib Chatter on Vacation This Week

It’s time to go to the beach even though we haven’t had any winter.

But who knew when I booked this trip 6 months ago?

If anyone else is going to be in Aruba, I’ll see you by the pool and that lovely beach.

As always, please talk among yourselves. There’s a lot going on in the housing market this spring. I have a bunch of properties in the stable to post on when I return, if they’re not already under contract by then.

We shouldn’t feel bad. Apparently, some homes in Los Angeles are getting 60 offers.

While I’ve heard of multiple bids here in Chicago, and some properties selling for over ask, I’ve not heard of anything as crazy as what’s happening in Los Angeles.

Check out the story here.

So rejoice! Chicago’s housing market is hot, but not THAT hot.

Thanks for checking in and talking about housing. It’s never boring.

See you later this month.

Sabrina

18 Responses to “Crib Chatter on Vacation This Week”

  1. Damn! And on Thursday I’m going to post the ultimate analysis that proves that prices are not above peak in the green zone. Seriously.

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  2. Everbody should post an intriguing property in Sabrina’s absence , here’s mine:
    https://www.redfin.com/IL/Chicago/1042-W-Oakdale-Ave-60657/home/13364481

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  3. Sabrina should post intriguing properties in Aruba. However, I hate Aruba. It was easy to ban it from any future travels in support of Natalie Holloway. Sabrina please be careful, that girl was never found.

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  4. Random question on home value and lots. Does owning the adjacent lot to your house add any value beyond the sellable price of that lot? Let’s say you bought the house and then tore it down for a yard. Would owning that double lot have a premium for a future buyer? If so, what? Lincoln Park.

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  5. “here’s mine”

    One of the neighbors previously featured on cc:

    http://cribchatter.com/?p=15678

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  6. Sid V – – wow! I imagine this is an as-is sale and the buyer has to clean it out? Since whatever is leaking on the second floor had damaged the living room ceiling near the light fixture, I guess it is a patent defect? This is a “historic” district because of the fence in front of the house??

    This listing is sad – – I envision some couple built it in the early 1980s and raised a family there…became estranged from their kids, one spouse died and the other is now in a home or also recently deceased….Very Sad! I bet this sits on the market with various heirs bickering over what is a fair selling price but doing nothing to increase the marketability of the property.

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  7. anon – – THAT is beautiful. I am relatively new around here. I would say that is my all time favorite too.

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  8. if by intriguing you mean how it is staged/decorated, here’s mine

    https://www.redfin.com/TN/Collierville/10280-Buckland-Bluff-Cv-38017/home/60851330

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  9. For sure as-is and buyer cleans it out. Sad, yes but did they ever put a dime into this place? I bet they never appealed the taxes either, they’re brutal, or they’re paying for having some exquisite neighbor properties.

    Here’s some info on the historic district: http://chicago-architecture-jyoti.blogspot.com/2011/11/lake-view-neighborhood-terra-cotta-row.html

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  10. OK. Here is my analysis of prices in a couple of Green Zone areas: Near North Side and Lake View. Sure doesn’t look like “well past peak” to me. However, I can see how maybe someone might get that impression by looking at a small segment of the market. http://www.chicagonow.com/getting-real/2017/03/nope-chicago-home-prices-are-not-above-the-bubble-peak/

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  11. Laura Louzader on March 9th, 2017 at 2:41 pm

    Sid V.- Wow, is that property on Oakdale ever beautifully staged!

    I mean, do these people seriously intend to sell this place? I don’t like to comment on the decor ( or lack thereof) of featured properties, but cleaning that place up would add at least $100K to the price.

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  12. I don’t know if this is intriguing but interesting to say the least. Very well staged.

    https://www.redfin.com/IL/Chicago/1939-W-Pratt-Blvd-60626/unit-2N/home/112781198

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  13. The Oakdale property is in foreclosure and court approval is required. So clearly, as if the photos weren’t proof enough, the seller has issues. Could be any number of issues but it’s not listed as a short sale and the Lis Pendens was just filed in October so I’m imagining some kind of estate issue.

    Interestingly, the mortgage on the place is FHA.

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  14. I wonder what the land value of the Oakdale property in foreclosure is, that is all it’s likely worth. Not over 900K.

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  15. HOLY COW BLUESTREAK!

    HAHAHAHAHA! I have never seen anything like that!

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  16. “Sabrina should post intriguing properties in Aruba. However, I hate Aruba. It was easy to ban it from any future travels in support of Natalie Holloway. Sabrina please be careful, that girl was never found.”

    I saw a clickbait headline about an hour ago that said, or seemed to, it at least implied…. that she had been found!

    So maybe Sabrina is actually a super sleuth or something?

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  17. “Does owning the adjacent lot to your house add any value beyond the sellable price of that lot? Let’s say you bought the house and then tore it down for a yard.”

    If you’re talking about Lincoln Park- then of course it adds extra value, beyond the value of the lot. In the city, the ultimate status symbol is actually having a larger lot for a garden, basketball hoop etc.

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  18. “Does owning the adjacent lot to your house add any value beyond the sellable price of that lot? Let’s say you bought the house and then tore it down for a yard.”

    If you do this before an area gentrifies, it would give you options. You could sell both lots combined, or split or you could sell one and use the money to keep paying your increased taxes on your home.

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