$64K Reduction on Lakeview Single Family Home: 3833 N. Marshfield
This 3-bedroom home at 3833 N. Marshfield in Lakeview has been on the market since August 2008.
It’s now been reduced $64,000 and is listed only $10,000 above it’s 2006 selling price.
The house is in the coveted Blaine School District and the kitchens and baths were renovated in 2006.
What will it take to sell this house?
Robert Picciariello at Prello Realty Group has the listing. See the pictures here.
3833 N. Marshfield: 3 bedrooms, 3 baths, 2 car garage, 2600 square feet
- Sold in June 1988 for $83,500
- Sold in December 1994 for $157,500
- Sold in April 1995 for $289,000
- Sold in March 2000 for $449,000
- Sold in September 2000 for $450,000
- Sold in June 2004 for $640,000
- Sold in July 2006 for $785,000
- Originally listed in August 2008 for $859,000
- Reduced several times
- Currently listed at $795,000
- Taxes of $9,904
- Central Air
- Bedroom #1: 13×13
- Bedroom #2: 11×10
- Bedroom #3: 13×8
- Apparently it does have a basement- with a family room
Too bad this house didn’t have a hypothetically stable 5% appreciation for 2 decades. I’d def. get in at 220K. Hell, even with $150K in upgrades in those 2 decades, 370K is def. still reasonable. at 800K it makes me sad.
Good looking house, though. very charming. crazy sales history.
I actually saw this house last summer when it was listed at $859k. It is well maintained and been re-done very well with nice flooring, finishes and color scheme. Great location, particularly playing up the Blaine school district component. Cute backyard with lovely garden. The house also does indeed have a finished basement where the family room is located. The biggest problem I found was that the home is just *very* small: first floor living room/dining room/kitchen area is narrow, the 3rd bedroom is *tiny*, even for using as an office or nursery. As a “starter” home for a small family, I thought we’d outgrow it very quickly. In and of itself, the size is fine and good for many people, but the combination of size and >$700k price point just didn’t work, Blaine or no Blaine.
charming house, just not $800k charming.
what IS up with the sales history, and the taxes as well?
is everything that high up there? It’s like Lincoln Park pricing..
That living room is all but unsuable. It’s a wooden home built a century ago. Is that really Lakeview?
In short, I also *do not* get the sales history here. What’s with the doubling of price from 1994 to 1995?
I’d pay about $200/sq.ft. given the location. That puts it at about $650,000.
Oh, and anon(tfo), looks like the same KitchenMaid cabinets I like–thanks for that link! 🙂
Sun Times goes BK and case shiller for Chicagoland falls off a cliff! :O
Chicagoland falls 4.6% month over month, the only urban area to fall faster was Phoenix.
Ding ding ding! I think we found the bag holder in the 21 year ponzi scheme known as 3833 N. Marshfield!
Yep. We’re back to May 2003 levels and it’s down 16.4% YOY and 22.4% from the peak.
http://blog.lucidrealty.com/chicago_real_estate_statistics/
“Yep. We’re back to May 2003 levels and it’s down 16.4% YOY and 22.4% from the peak.”
sounds about right. Just closed on a lincoln park townhome, 30% below 2007 price and right around its june 2003 price…
Congrats, sartre. Enjoy.
So does Steve Heitman still post on this blog?
thanks G, I am sure we have further declines ahead, but when they carry me out of this place feet first, it wouldn’t matter much 🙂
Gary,
I haven’t seen much from the Steve Heitman nom de plume in some time. It’d be hard to remain as steadfastly optimistic & bullish on any neighborhood as he was.
sartre – If you don’t mind sharing, how long were you looking for your townhome and how many offers did it take you to finally find a seller willing to come to terms on pricing? Just curious becuause I have been looking for over a year and have submitted a handful of offers to no avail.
Kenworthy – these cabinets are different than the ones from yesterday – these are beadboard and the others appeared to be a plain face. The cabinets you were referred to were Kraftmaid, not Kitchenmaid. And pretty much every single manufacturer out there has a cabinet like this one and like the ones in the other kitchen, just FYI. It won’t be tough to find this style at all price/quality points.
Projecting the Case-Shiller trendline from 1987 to 1999/2000 it looks like prices need to fall about another 10% from where they are now, to roughly early 2002 prices, to meet the trendline. Will this be the approximate bottom, or will prices overshoot i.e. dip significantly below early 2002 levels trendline before this is over?
“Will this be the approximate bottom, or will prices overshoot i.e. dip significantly below early 2002 levels trendline before this is over?”
THIS is the $64,000 question. Not whether this property will sell for 64k off.
This recession = guaranteed overshoot.
I’m also curious how neighborhoods such as around this house will hold up. The local school, Blaine, is substantially improved, to the point I would consider sending my kid there when he is of age. For parents interested in public school (for financial and other reasons) there are precious few options where you can also be (a) close to downtown and (b) get a house for under $1MM, let alone $800K. (I would seriously be interested in other examples.) Bell, not too far from Blaine, has held up over time. Blaine has risen, but I don’t know that it isn’t at risk of slipping back. Some of its rise, but I think not all, is due to the bubble. Question is how much and can it hold on anyway. If people start thinking the school may not be viable in the long run, then why would I buy a house here?
Quick/noob question.. in Chicago, when using price/square foot for a property, how does one calculate the square footage? Is it only living spaces? Closets? Stairwells? Deck/balcony? Garage? Yard if it’s private?
Thanks.
The honest way to assess square footage for a price/sq. ft. calculation is to count all interior space that is contiguous with the property and under exclusive control of the buyer. I.e. include closets and hallways inside the house or condo, but not outside balconies, garages, patios, basement storage areas etc.
For SFH’s with basements it gets a little cloudy; if the basement is fully finished living space it often gets included in the quoted area. You just have to know what is included.
Unfortunately many realtors inflate square footages; the figures quoted in listings are notoriously unreliable and in many cases flat our lies.
* “flat out” lies
“but I don’t know that it isn’t at risk of slipping back. ”
The one good byproduct of the bubble is that you had people paying an increased amount of their disposable income on housing. Now that the value of their 450k condo has dropped a bit they are stuck, and with a hefty mortgage they can’t afford to send their kids to private school. So I think these newly gentrified schools really aren’t at risk of slipping back because the parents are stuck.
Err the one good byproduct is that these schools likely aren’t at risk of slipping back, rather.
Bradford–got my kitchen mixers confused with my kitchen cabinets. And glad to know there are comparable products across price points; I’m in the middle of hunting about now. Maybe Ikea has them (hope so).
I am not a fan of chicago cottages, but this one is done really nicely.
“with $150K in upgrades in those 2 decades”
If that house has only had $150k spent on it in 2 decades, I need your contractor’s number. The place is almost all rebuilt in teh past 20 years (no, I haven’t been inside, but …). It’s new HVAC (probably including ducting), roof, siding, insulation, floors, bathrooms, landscaping, basement was likely dug out, basically everything other than the frame has been replaced, upgraded or both in the last 20 years. The
“What will it take to sell this house?”
At the current ask? Magically turning BRs 2 & 3 into 3 decent sized BRs.
“what IS up with the … taxes”
Dunno–they’ve claimed the homeowner’s exemption. But the 2006 taxes were only $7100.
“2600 square feet”
Not a chance unless you’re counting the basement. The footprint of the house is under 1000 sqft. Assessor lists it as 1,659, which should be the above-grade total.
“one good byproduct is that these schools likely aren’t at risk of slipping back”
I agree. Blaine isn’t likely to backslide, unless the next mayor makes a move for totally open enrollment in all city neighborhood schools.
“Is that really Lakeview?”
Yes, east of Ravenswood, South of Irving. I don’t much care for the area b/t Ashland and Lincoln, from Belmont to Montrose, but this is still Lakeview.
Can someone post the price increases in excel, make a gif and then link it?
sorry, PLOT the price increases and make a chart into a gif
“sartre – If you don’t mind sharing, how long were you looking for your…”
MJ, we have been looking for almost 18 months. Although this was the first offer we ever made. Basically if the seller was underwater, we did not even bother to make an offer (although I am told that short sales are becoming more streamlined now). We were specifically looking for original owners looking to get out or developers trying to unload inventory. In our case the seller had owned since the early 90’s and needed very badly to get out (had already purchased another home about a year ago). However they didn’t have to bring money to the table, which made things a lot easier. In addition the home was in jumbo loan category and we offered cash, which probably killed any possible bidding wars.
also want to point out that most sellers who bought in the last 3-4 years are probably not unreasonable at this point. They mostly understand where the market is (except for a few crazies). Their problem is that they don’t have the money to bring to the table. So as Bob pointe out earlier, they are stuck and hoping for a miracle buyer to get them out of this mess….
BTW we did find the now obligatory St. Joseph statue in one of the closets. This was a Jewish home…..
Thanks sartre. Very insightful.
We’ve tried submitting offers to both underwater sellers that had been listing their homes for over 120 days (with the hope they had already spoken to the bank about a short sale) and sellers who have owned for some time.
In the case of the underwater sellers, they wouldn’t budge on price (so I guess they hadn’t yet spoken to their lenders).
In the case of the sellers who have owned for some time (and have real equity), I don’t think they understand the concept of carry costs and fail to recognize how few capable buyers there are out there (especially when you are talking about jumbo loans). We had a case where the seller’s townhome was vacant and they would rather come out of pocket 5,000 per month than sell at a significant discount to thier asking price (mind you they still would have turned a profit). The joke will ultimately be on them when their place doesn’t sell and their carry costs exceed our discount…But that will take some time.
I’d consider this at $600K max, but the 500s seem more fair. Nice-appearing finishes + garage parking, but the bedrooms are so tiny, and even the large LR/DR seems oddly long, narrow, and a little dark. Call me crazy.
MJ, yes it will take some more bleeding. in our case the house was on market for a year before serious price cuts happened. Let it marinate and if not this one then another one will come along….
Regarding short sales…there are questions you can ask the listing agent to find out where they stand in the short sale process and how knowledgeable the listing agent is about moving things through. It is possible to get an answer in 2 weeks.
Regarding sellers not understanding carrying costs…it is so true. I have been amazed at the lack of financial sophistication out there and when you try to explain stuff to them they look at you like you’re from another planet. Example 1: Property can be sold for $500K but seller only paid $100K so they think they only have $100K tied up. Example 2: We’re not going to price it to sell while the market is going down. We’ll wait for it to come back. Example 3: We can rent it out. It’s good diversification to have some real estate in the portfolio.
4. Buying a $400k+ 2/2 with 95% – 100% is a great idea. I’ll live there for a few years and then sell or refinance.
Oy vey iz meir 🙂
“we did find the now obligatory St. Joseph statue in one of the closets. This was a Jewish home…..”
But Gary! westloopelo explained to us that all of that analysis and all of those silly numbers just get in the way of good common sense about real estate!
“westloopelo explained to us that all of that analysis and all of those silly numbers just get in the way of good common sense about real estate!”
KW–it is different if you don’t need (much) financing and cater to a sophisticated market, rather than the hoi polloi.
“Buying a $400k+ 2/2 with 95% – 100% is a great idea. I’ll live there for a few years and then sell or refinance.”
I sometimes wonder what became of that paralegal mentioned in the Crain’s article who was having problems selling her 2/2 in North Center that she paid upwards of 400k for and now had to move to Boston. I remember her fiance was a similar FB who managed to get out. Both were frequent purchasers and sellers of real estate as they had done it before.
Someone with a facebook account (I don’t have one) should look her up and see if she’s in boston yet. Or look to see if auntie lizzie has been recorded against her condo.
“I sometimes wonder what became of that paralegal mentioned in the Crain’s article who was having problems selling her 2/2 in North Center that she paid upwards of 400k”
From the prior post: “The condo sold in August [2008] for 333,030.”
And she “only” paid $361,400 for it.
“look her up and see if she’s in boston yet”
Per linkedin, she is in Boston and married.
“susan” researched it, and the “The condo sold in August for 333,030.”
http://cribchatter.com/?p=3991#comment-25625
IIRC she had a $50k down payment. With commissions and closing costs it looks like she lost nearly the entire down payment. I hope she learned her lesson.
I treasure my anonymity.
“anon (tfo) on March 31st, 2009 at 1:22 pm
“look her up and see if she’s in boston yet”
Per linkedin, she is in Boston and married.”
Their losses are now complete. (Without loss to rental equivalent and carrying costs while vacant and waiting to sell, don’t forget.)
He bought 825 N. Marshfield #2 on 4/20/06 for $350,000 with a mortgage for $355,250 from Navy Fed CU. It sold for $350,000. Consider closing costs of 6%, and the loss was at least $26,000. Result: Was paid $5,525 to “buy” the unit and lose $26,000. Return = infinite (that’s good, right?)
She purchased 4917 N Lincoln #3 on 11/21/05 for $361,400 with two mortgages totaling $311,400 from Wells Fargo. It sold for $333,030. Consider closing costs of 6%, and the loss was at least $48,000. Result: Invested $50,000 to lose $48,000 minimum? Return = -96%.
Leverage makes RE investing extra special.
“I treasure my anonymity.”
I sacrificed none of mine in discovering those two facts.
I’m just saying all these people post all this personal stuff about their life on the internet and all; kids nowadays
about the boston/married; obviously the rest was from CCRD
“I’m just saying all these people post all this personal stuff about their life on the internet and all; kids nowadays”
It’s not a problem until you put yourself out there by being interviewed or something.
I wonder what the happy couple’s plans are on renting or buying a place in Boston? Maybe the happy couple is going to showings as we speak! I know a great realtor out in Beantown, her name’s Suzanne and she’s a greater researcher. She said now has never been a better time to own. Its such a buyer’s market these days!
Lesson learned? Nothing recorded for either name to date in Suffolk County, MA.
http://www.masslandrecords.com/malr/controller
This home sucks and is way overpriced. Keep dreamin sellers!
They got lucky. By my definition they got out intact. Yeah she lost her downpayment but I’m guessing she got that from her first flip. Even if they had only lost 30k or so thats a knick compared to their leverage and the amount of OPM they were playing with.
There are thousands more like them who didn’t get out. Those are the ones we’ll be reading about going forward.
Is the price for this really that far off? Remember 3449 Paulina that sold for $600? Lots of posters thought that was a deal. I’ve never seen either house in person, but this one seems a lot bigger, much nicer finishes, not so near the el and it is in a much better school district (Blaine vs. Hamilton). Without doing much research, I would guess you could add approx. $50 for the size, $50 for the upgraded finishes, and $50 for the better school district and location. Ok- I realize that is rather unscientific, but using 3449 Paulina as a measuring stick, $750 seems reasonable to me. Are all of you now saying that the buyers of 3449 Paulina overpaid – or do you all think that the size, finishes, and location don’t deserve the premium. Just wondering.
Don’t forget, the recent Case-Shiller number is lagged by a couple of months, so we are probably pretty close to 2002 prices, which I agree is where the HPI index meets the trendline. It almost has to overshoot – with the recession, credit and consumer spending contracting, low consumer confidence, unemployment rising, etc., it’s a nasty downward spiral that will take time to slow down before it rebounds.
“Projecting the Case-Shiller trendline from 1987 to 1999/2000 it looks like prices need to fall about another 10% from where they are now, to roughly early 2002 prices, to meet the trendline. Will this be the approximate bottom, or will prices overshoot i.e. dip significantly below early 2002 levels trendline before this is over?”
Kenworthey (yeah, ‘that one’ who needed to have basic housing styles clarified to him) says:
“But Gary! westloopelo explained to us that all of that analysis and all of those silly numbers just get in the way of good common sense about real estate!”
Not to get into an extended tit for tat with you regarding my comments, but my business is not to over analyze every market trend, it’s stock market equilavent and then guestimating how much money buyers have to spend on a down payment. It is more along the lines of if I put X amount of dollars into buying then rehabbing a property, how much of a profit can I expect to make in a year…in five years….in ten years.
For me, and others like me who do not have to go through shady lenders for the cash to purchase what we desire to invest in, these ‘facts’ and numbers hover right around a point where they are understandable and easy to use to determine how and if a property is worthy of an investment. No where did I say this analyzation and discussion are ‘silly’ as without them how successful can I, as a property owner and rehab specialist be?
As a solid cash only buyer, I determine two things when viewing a property: would it be a wise decision to buy, rehab immediately and then sit on for a number of years as a rental OR buy, rehab and turn as soon as possible with a nominal return on my investment.
That is where my definition of ‘RE common sense’ comes in.
The point you neglected to bring into the discussion is that coming from a family who has been, very successful I might add, in this business for generations, it is easier for me to know which category every property I am interested in falls into. I usually determine a few hours after a viewing(s) which course I am going to take, if any and I then act quickly.
While it makes for an interesting (and highly entertaining) read to see how many different ‘interpretations’ each minute move in the market causes on boards like this, I have no desire to engage in such discussions…time and energy being a major factor for not doing so. Any BTW, I possess two degrees in Real Estate related fields that more than qualify me to take part in the discussions here on this forum.
Read, analyze how it would affect my day’s transactions and move on…or in your words, use my RE common sense.
One great thing, if that term can be used, that has emerged from this current RE mess of the housing industry is that everyday people are much more educated than they have been at any point in the past about the ins and outs of the Real Estate Business. It used to be all that was needed from a buyer was cash to purchase a home. Now I even have had buyers educating some RE agents on THEIR jobs!
Judging from the past 30+ years of being in this business, my common sense (= a solid track record) is pretty spot on, even in these shaky times.
As I said in yet another thread, I do not buy more inventory (as tempting as that may be) until past purchases move…and move they have been lately. In this first quarter of 2009 alone, despite a gloom and doom soundtrack playing louder and louder in the background, I have managed to unload a total of 21 properties in three states…one of those states being hit the hardest by the RE bust, Florida.
And anon, the buyers I deal with run the gamut from very seasoned and experienced buyers to first timers looking for their ‘deal of the century’. I don’t think too much about them once my part of the work is done. All I need to know is whether or not they have the DP (95% of them do have their finances in order before looking with enough cash not only for a down payment but for other unforeseen expenses involved in purchasing a home) and that their standing is good enough to get a bank to back their decision.
So friend, before you go on and on about my understanding of the business and attempt to entertain this audience, get your facts straight…oh yeah, do you require any further assistance in identifying housing styles? If so, don’t be shy… I am more than willing to help!
westloopelo, does the knowledge that you are fourth generation real estate awesomeness get you out of bed extra early in the morning?
I think I’m gonna need a Kindle to read westloopeo’s above treatise.
Bob, if you do, please tell me what it says.
“And anon, the buyers I deal with run the gamut from very seasoned and experienced buyers to first timers looking for their ‘deal of the century’.”
I was poking fun at both you and KW. Apologies if too subtle.
westloopelo, this crowd is like the guys that sit around my office talking intricacies of baseball, but couldn’t round the bases without passing their fat asses out. you have money these guys could only dream of, and they will hate you for it.
That baseball reference reminds me of an old saying about someone being born on third base believing that they hit a triple.
Touche, G. It’s getting spicy in here.
As long as that person still knows how to get home, I’m not going to hate.
“As long as that person still knows how to get home, I’m not going to hate.”
No, you’re just going to hate on the singles hitters. Metaphor now officially dead.
I’m amazed by the folks who complain about the incivility and “hate” who express their displeasure with the discourse thru incivility and “hate”. Y’all get what you pay for.
Good point. Sorry, anon(tfo). (And westloopelo.)
“No, you’re just going to hate on the singles hitters.”
I don’t care if you hit a single or strike out. But I have no problem spreading some hate on those that never leave the dug out, but criticize those for stepping to the plate. I’m not necessarily talking real estate, but in life in general. Too many talkers in this world.
Why is westloopelo being mocked for being a successful rehabber?
“Why is westloopelo being mocked for being a successful rehabber?”
Cite, please. And don’t just use Kenworthey, she already apologized.
Let’s all hope his successful rehabs are of better quality than his writing.
““Why is westloopelo being mocked for being a successful rehabber?””
Chris: (lamely I might add)
“westloopelo, does the knowledge that you are fourth generation real estate awesomeness get you out of bed extra early in the morning?”
actually that is third generation real estate awesomeness….regardless, it is getting out of bed extra early that has made me so awesome! Obviously it doesn’t seem to be working too well for you though.
Bob, being on the end of your forever long winded economic explanations/analyzations/predictions of doom on more than one.two.three occasions, you should be well prepared to read through anothers without use of ‘kindle’…whatever the hell that is!
MADFLY, I understood your spot on analysis of our fellow contributors… on perhaps…my second day here. I do however, like to refer to them as ‘armchair real estate pros’.
As to why I am being mocked for being a successful rehabber? I think you answered your own question a few posts prior…
No apology needed Kenworthey…just take a few more moments to really read the postings! Many here seem to be overlooked in the haste to ‘zing’ with a smart ass answer.
Yeah real riots those armchair RE Pros….
westloopelo –
If you’re saying predicting where home prices are going is the same as predicting stock prices, you are wrong – the stock market is orders of magnitude more difficult. One market is pretty close to efficient, the other is not.
“not to over analyze every market trend, it’s stock market equilavent”
Fullhouse–
Context would make it seem that this is another incidence of WL typing speed being out of sync with his thoughts. I don’t think he meant anything as specific (or as general) as that–just that he doesn’t “day trade” real estate, so day-by-day or week-by-week analysis isn’t very valuable to him.
DUH thanks a ton fullhouse for that overly dramatic clarification. I was saying I have little use for such in-depth discussions of the economic situation. I know the basics and for this laborer, that is all I need to know.
I see a house that is priced right, needs work, I buy it, fix it, rent or sell it….my story. How basic can that be?
Thanks anon for your input.
And yeah, my writing does suck. Thankfully there is not a lot of writing to be done in my type of work.
Tell me though, does having a fat ass help with your armchair RE business?
“And yeah, my writing does suck. Thankfully there is not a lot of writing to be done in my type of work.
Tell me though, does having a fat ass help with your armchair RE business?”
Who was this insult directed toward? You’re rather free with the insults for someone who complained that “uh” was uncivil.
If you’re offended by my typing-speed/thinking point, it was actually sort of a compliment–I know many people who cannot type as fast as they think (myself included) and you already noted that you post here while thinking about more important stuff.
[Here is where I’d put the insults, but I won’t stoop to your level]
Have a happy day!
He was insulting me. Sorry westloopreo it was just too easy an opportunity to pass up
Okay then, sorry and nothing to see here.
But then, my difficulty with non-paragraphing is already noted.
personally, I love rehabbers, because I will almost always prefer an older stock building over a new construction one.
This is largely as the newer buildings are so preoccupied with maximizing floor space that they gobble as much (if not more) of the lot as they can, rarely leaving any green space. This results in the much- and justly – maligned condo canyon effect, and people who pull in their garage and rarely interact with their neighbors.
Granted, some neighbors you don’t want to interact with.
What got my goat during the height of the bubble nonsense were the idiots who honest to God felt that they *deserved* to be able to flip a condo/house in a year or two’s time for an obscene (and usurious by historical standards) profit, but who never put any value-added into it.
It’s that sense of entitlement that grates on people, the idea that by simply showing up in a neighborhood one was “improving it,” always a rather blatant slap in the face to the people who already lived there – many of whom, ironically enough, were actual young urban professionals (not just meatheads working on the floor of the BOT) who did do a lot of rehabbing themselves in the 80s.
I get accused of being a gentrification “hater” often, and my reply is that people who are actually bettering a neighborhood are great. It’s the losers riding their coattails who are a drag.
No anon, that comment was most def not aimed at you at all. If there are any comments that I agree with and appreciate, they are yours.
Re my typing speed…LOL if you only knew! Mind works most of the time but my fingers, not so much.
Glad I amuse you HD – fire away if you must.
Oh yeah, can I point out your typos as a joke or is that too easy an oppotunity that I should just pass by?
Westloopreo…come on now, not even close.
Good points there skeptic and I could not agree more.
Oh come on lighten up westloopelo; i made a dumb joke about your non-paragraphing. I wasn’t trying to personally offend you.
As I said, bring it on if you feel the need.
Just do not question the quality of a man’s work…that is nothing to joke about.
whoa I didn’t realized I touched a nerve. Sorry.
Why don’t we all stipulate that WL is a better rehabber than typist and leave it at that.
the quality of a “man’s” work, westloopelo? You need to work on the consistency of your internet persona.
Well Kenworthey, that is your opinion and we all know what they say about opinions don’t we?
I think in your case it plays out double…just sayin’…
westloopelo –
“overly dramatic”? Unnecessary and obvious, maybe, but probably not overly dramatic… Not that I care, but was the insult/question aimed at me or HD?
Yes, I guess it is my opinion that you ought to settle on whether your internet persona is a “girl” (http://www.cribchatter.com/?p=6348) or a “man.” Why bother going to the effort of constructing such an elaborate one, if you can’t even settle on the basics?
3617 N Marshfield is a duplex up 3/1 with 1,640 square feet that is a short sale and just had it’s ask price cut to $150k.
MLS 07755762. Most of the people anchored to bubble pricing buying properties these days for 10-25% off peak are committing financial suicide.
With regard to that short sale I guess the banks finally cut up Chad’s credit card. No more livin’ the dream cubs fans with a decent FICO and no coin buying condos anymore.
“3617 N Marshfield is a duplex up 3/1 with 1,640 square feet that is a short sale and just had it’s ask price cut to $150k.
MLS 07755762. Most of the people anchored to bubble pricing buying properties these days for 10-25% off peak are committing financial suicide.”
I’m confused by this listing. How can those two units be in the same building? ARE they in the same building?
Is one in the front and the second one in the back of the building? Both are duplex up, right?
They both look to be duplex up, and one is 2F and one is 2R and since the pictures of 2R look like they all look out onto the alley, I think it is a 4 unit building with two first floor units back to back and two duplex ups back to back.
The rear unit clearly was done much better, but I wouldn’t want to live on an alley.