For The Groove: Get a Storybook 3-Bedroom Tudor in Galewood: 1707 N. Normandy
This 3-bedroom tudor at 1707 N. Normandy in the Galewood neighborhood of Austin has been on and off the market since August 2010.
It has a turret entry and arched doorways.
The kitchen has been updated with maple cabinets, granite counter tops and stainless steel appliances.
All 3 bedrooms are on the second floor. There is a lower level living room. The house appears to have carpet, and not hardwood, throughout.
Built in 1939 on a larger than normal Chicago lot of 40×125, the house also has central air and a 2-car garage.
Just a block north of the Oak Park border, the house has been reduced just $15,000 to $390,000 since April 2011.
What will it take to sell this house?
Alfred Marino at Park Place Real Estate Services has the listing. See the pictures here.
1707 N. Normandy: 3 bedrooms, 2.5 baths, 2400 square feet, 2 car garage
- Sold in October 1988 for $160,000
- Originally listed in August 2010 (I couldn’t find an original list price)
- Was listed in April 2011 for $405,000
- Reduced
- Currently listed at $390,000
- Taxes of $4100
- Central Air
- Bedroom #1: 16×13 (second floor)
- Bedroom #2: 12×14 (second floor)
- Bedroom #3: 12×11 (second floor)
- Family room: 18×18 (lower level)
Just need some cosmetic updating, and on the wrong side of oak park.
but other than that 100% awesome. i am a grass guy but the paved garden thing is sweet here
Cool house, love it!
Looks like a solid house. Needs a little updating, but appears to have good bones. That house would probably be in the mid to upper 600s in Oak Park.
“That house would probably be in the mid to upper 600s in Oak Park.”
with a 11-15k tax bill
OHMYGOD! I’m buying this… kids running around and can’t check out the pics right now but judging by this first pic I love it!
I’m not a fan of Tudors per se, but this one is staged well. Is Austin really as bad as its reputation or is it like most nabes, some good parts, some bad parts?
At this price point, you are better off just going to Oak Park imho. Yeah, taxes are higher, but you have solid school options so you don’t have to worry about private school.
This just sold not too far from this house. Just over a mile away in Oak Park on a decent block. Brand new gut rehab from developer, so it is in better shape. Not quite as big as the Galewood house though.
http://www.redfin.com/IL/Oak-Park/1034-Hayes-Ave-60302/home/13277973
I like the house alot, but this ‘hood is hood.
OK just saw pics, this is totally what we’re looking for. Love it, places like this are such a sharp contrast to the plain McCrapboxes that have no character whatsoever. If we are going to move to any burb I think Oak Park would be it, and this is close enough to enjoy all the amenities OP has to offer. Great home. Also having fun looking at the “nearby similar listings”.
Oh, and this isn’t Austin, is it? I’ve always heard west of Ridgeland is where you want to be, but not sure how it is north of North… anyone?
T.S. — You do realize that the schools are CPS, right? Unless you’re going the private route…
“This hood is hood” says the person who has undoubtedly never been there. This area is A-Ok.
The Oak Park home russ linked to was nice but even with 20% down the mortgage payment is $2,700 a month….does anyone other than clio have a mortgage payment at $2,700 a month or more?
“Yeah, taxes are higher, but you have solid school options so you don’t have to worry about private school.”
valid point Russ, in my mind i would rather pay 15k a year for 4 years of a private high school than pay higher taxes EVERY year if i have school kids or not. Even with 2 kids at 30k for four years.
the grade school here is not going to ruin your kids future, niether is the HS (Steinmetz) but i would still do private for HS to play the odds better.
Russ 7k in taxes more a year and really all you get is a better HS? (7x 20 years=140k or 15×4 years=60k)
““This hood is hood” says the person who has undoubtedly never been there. This area is A-Ok.”
this is the most diverse and SAFE (had to add the safe with diverse) hood in chicago proper. and gets way safer as you cross ‘gannsette/ridgeland/nagle
let me add, its only 390k with 4k taxes on a *DOUBLE LOT and its not a small mccrapbox or a soulless 2/2, it has vibe and style with a huge feeling of “im home”
Russ (December 7, 2011, 11:22 am)
Looks like a solid house. Needs a little updating, but appears to have good bones. That house would probably be in the mid to upper 600s in Oak Park.
No way. You could get this house in OP for much lower than Mid 600’s.
Groove77 (December 7, 2011, 1:28 pm)
““This hood is hood” says the person who has undoubtedly never been there. This area is A-Ok.”
this is the most diverse and SAFE (had to add the safe with diverse) hood in chicago proper. and gets way safer as you cross ‘gannsette/ridgeland/nagle
I agree with you on the “Diverse and Safe” comment. But only in combination. I’d argue that Edgebrook, Edison Park, or Old Norwood Park are safer than Galewood due to higher concentration of Chicago Police living there.
Groove77 (December 7, 2011, 1:31 pm)
let me add, its only 390k with 4k taxes on a *DOUBLE LOT and its not a small mccrapbox or a soulless 2/2, it has vibe and style with a huge feeling of “im home”
Rating: 0 (from 0 votes)
Its a 40Ft Lot. Its not a double lot.
Just Sayin.
“Its a 40Ft Lot. Its not a double lot.
Just Sayin.”
Dang you Anon (ufo)…whaa whaa. whaa wait? et tu lunker? 🙂
I like this subject crib I don’t like the price. Its the highest priced SF in 60707 in Chicago Proper.
http://www.redfin.com/IL/Chicago/1744-N-Newland-Ave-60707/home/13430639
I like this better. It needs major remodeling but I like the curb appeal and 200ft long lot.
This Galewood location does little for me. Harlem is a complete PITA to drive.
yep everything above new england is long lots mostly 40 and 50 footers at that. your place looks to be three houses of the school play lot which always has a game of some sorts going on so it would get some extra traffic and people parking in front of your house. the cool thing though you know each and every person that parks there or walks past and wont be able to cut your lawn without getting side tracked in many neighborly convo’s.
NEVER EVER EVER take harlem if if you final destionation is on harlem ave. i shoot up to thatcher or down to austin ave. Austin is great because there is a bridge for the train so no waiting 😉
well then Lunker you should get this one
http://www.redfin.com/IL/Chicago/5723-W-Huron-St-60644/home/13267288
already been rehabbed!
I love this place albeit the interior needs some serious upgrading.
Lunker, you are not going to get a house like that (similar size and renovation level) in Oak Park in that good of shape for much less than $600k.
I must have skimmed past the picture with the bullet holes.
Most “diverse and safe in Chicago proper” <—- speechless
Housing Bear,
have you ever been in this area ever? not driving through not google earth street viewing it actually been in this hood?
I know it is not as nice as the featured property but the price seems very reasonable on this one:
http://www.redfin.com/IL/Chicago/1629-N-Newcastle-Ave-60707/home/13430945
“does anyone other than clio have a mortgage payment at $2,700 a month or more?”
Including taxes? Hell yes there are people who post here, regularly, who pay more than $32,400 per year in mortgage payments and interest.
BTW, HD why wouldn’t you consider something in Op, say
http://www.redfin.com/IL/Oak-Park/1141-Edmer-Ave-60302/home/13274788
“does anyone other than clio have a mortgage payment at $2,700 a month or more?”
I don’t have a mortgage payment this high but sure we can afford it.
“does anyone other than clio have a mortgage payment at $2,700 a month or more?”
we do if you count the combined mortgage from our condos, though since one is rented out, that probably doesn’t count.
“does anyone other than clio have a mortgage payment at $2,700 a month or more?”
you dont need to afford it you just need the bank to approve it
Groove is right. Given how long it takes to evict a deadbeat owner vs renter its foolish to not try to capitalize on the Squatter Nation craze.
You’re all going to be paying higher taxes down the road caused by the bailouts of the GSEs might as well try to mitigate those increased expenses by leverahing up in a nice piece of RE you might not be able to afford then if things don’t turn out well pull the little guy taken advantage by big evil megabank corporations victimization card. This card has some staying power entitling the card puller to several years of free, sometimes nice, housing.
Im gonna move to CA with my 30k & purchase a home in santa monica with a 730k mortgage loan backstopped by taxpayers.
“I don’t have a mortgage payment this high but sure we can afford it.”
Including property taxes, you don’t pay $32k per year on your *two* residences? Would you still not if they were financed 80% ltv, with 30 year fixed rate mortgages?
Really?
“Im gonna move to CA with my 30k & purchase a home in santa monica with a 730k mortgage loan backstopped by taxpayers.”
I s’pose you might be able to get a 3.15% 100% mortgage. If you do, please send me your lender info.
“does anyone other than clio have a mortgage payment at $2,700 a month or more?”
I don’t even have a mortgage payment. Are there any other regulars who are renters beside me, bob, and hd?
“Are there any other regulars who are renters beside me, bob, and hd?”
Depends, if you ask Clio, all of us are.
I can only afford $1,000 a month mortgage PITI. Where should I live?
Can I live on southport?
What about lincoln Park?
One of my coworkers…she just bought a house before closing on selling her first one. If her sale falls through her owning 2 homes brings up the ownership ratio around here. Good for her for possibly volunteering to donate so much more to local schools.
Great looking house inside and out. I’d change the window treatments, however. Just not my taste.
“Depends, if you ask Clio, all of us are.”
clio thinks that loser?renter, which would mean we are all renters (in his opinion), when in truth it is only that renter?loser.
“I can only afford $1,000 a month mortgage PITI. Where should I live?”
Dunno, depends on how many of those pots of money you are willing to dig up for downpayment.
“I can only afford $1,000 a month mortgage PITI. Where should I live?”
Monee. For example:
http://www.redfin.com/IL/Monee/5507-W-Mill-St-60449/home/17457743
“loser?renter”
“renter?loser”
Sorry, the question mark was a implies symbol, which didn’t work. Test if this ? works.
“Dunno, depends on how many of those pots of money you are willing to dig up for downpayment.”
And, it’s the right time of year, with minimal mulbery-staines-shoe risk!
“And, it’s the right time of year, with minimal mulbery-staines-shoe risk!”
150 paces due north of the worst mberry tree, right?
Talk about horrible listing photos (not to mention being overpriced): http://www.redfin.com/IL/Oak-Park/419-S-Humphrey-Ave-60302/home/13267043
“150 paces due north of the worst mberry tree, right?”
I believe that puts it within the Kennedy right of way, so I’m sure you’re correct!
“Talk about horrible listing photos (not to mention being overpriced)”
This one (among the RF similar props) might top it:
http://www.redfin.com/IL/Oak-Park/205-S-Ridgeland-Ave-60302/home/13268448
Chris, those must be the pre-renovation photos.
“Talk about horrible listing photos (not to mention being overpriced”
“This one (among the RF similar props) might top it”
Hah! I forgot about that one–came across it a few weeks ago. Yeah, that probably tops it…
Not that I’m some sort of perfect interior decorator stager person or anything but people certainly do make some interesting furniture choices considering they supposedly live in a 650k house….
“I can only afford $1,000 a month mortgage PITI. Where should I live?
Can I live on southport?
What about lincoln Park?”
You can live in a luxury mobile trailer!
And yes, it is difficult but you can live on southport, lincoln park, even the gold coast! Just takes a while to find a spot to park it
Andy and Groove,
My Dad had a house in Oak Park for over 10 years, and I’ve ridden my bike and to and from the area (from downtown) a couple of times. The immediate couple of blocks might be nice, but this area in general is VERY hood.
If you have character your house need not.
Oak Park is mentioned; it’s full of pompous, self congratulatory jerks, always was and probably always will be.Doopers.
“My Dad had a house in Oak Park for over 10 years, and I’ve ridden my bike and to and from the area (from downtown) a couple of times”
east of oak park IS “hood” that they way you would ride if going to down town.
now this property is NORTH of Oak Park
Groove,
I work in the area. It is the best part of Austin. It is NOT however, even close to, the safest hood in chicago proper. Like the guy said above, there are a couple “good” blocks, but that does not a neighborhood make.
“It is NOT however, even close to, the safest hood in chicago proper”
correct its not the safest hood in chicago its the most *diverse safe hood in Chicago.
edison park is safe too but its not diverse at all. Upton is crazy diverse but not safe at all. see where i am going with it?
You may work in the “area” but i actually live kiddie corner to the galewood neighborhood, it is safe.
that said, the hood may not be to everyone’s liking and you do need to be not afraid of your shadow to feel comfortable there. It may not be to your liking but its not ghetto or an unsafe hood. It is a blue collar hood many city workers and established tradesmen.
it isnt the northface wearing ugg boots crowd the people relate to “safe”. (are my references dated?)
i dont think i know anyone that calls the part of austin, maybe montclaire but really belmont/cragin is a stretch too?
what does “diverse safe” mean?
The Austin everyone is scared of is East of Austin and South of North Avenue down to around Madison.
I drive through this area all the time going to the Brickyards to shop. This area is solid salt of the earth blue collar as Groove says. Just good old fashion folks making an honest living. It definitely isn’t the Big Ten, Chad & Trixie set. More Dickies instead of North Face. Cops, Firemen, Tradesmen, Etc. None of the strat consultants and Biglaw types.
If you think this is the hood then you need to high tail it on out to exburbs because city living ain’t for you. If you want to see “hood”, go down around Chicago Avenue and Hamlin. It is a real life Hamsterdam for The Wire fans.
Icarus (December 7, 2011, 2:02 pm)
well then Lunker you should get this one
http://www.redfin.com/IL/Chicago/5723-W-Huron-St-60644/home/13267288
already been rehabbed!
No thanks! That’s in a part of Austin I have no desire to live. Its a very non diverse part of Austin and I wouldnt fit in. Plus I’d be scared I’d get shot in my front room
Russ (December 7, 2011, 2:03 pm)
Lunker, you are not going to get a house like that (similar size and renovation level) in Oak Park in that good of shape for much less than $600k.
Rating: +1 (from 1 vote)
I totally disagree. I just checked the MLS plenty in 4’s that would definitely comp against this subject as terms of structure. I’d give Oak Park a +1 on location vs Galewood
“that said, the hood may not be to everyone’s liking and you do need to be not afraid of your shadow to feel comfortable there. It may not be to your liking but its not ghetto or an unsafe hood.”
One thing I like about running this blog is that it exposes me (and hopefully the readers) to parts of the city they may not have heard of or been in. Galewood is one of those neighborhoods.
About safety- I have a pretty strong antenna for these things having driven/walked/biked around many neighborhoods over the last 4 years running this site. And it never crossed my mind in this part of Galewood. I got out of my car, walked around and never once felt I could be mugged in the middle of the day (and that is NOT the case for some other neighborhoods.) Further east – it gets a little more iffy (and, in that area, I didn’t get out of my car.)
Well, you know the house has been maintained from this amusing street view: http://maps.google.com/maps?q=1707+n+normandy+chicago&hl=en&ll=41.911148,-87.792392&spn=0.005294,0.012392&sll=41.911071,-87.792207&layer=c&cbp=13,90.2,,0,1.5&cbll=41.911054,-87.792394&gl=us&hnear=1707+N+Normandy+Ave,+Chicago,+Cook,+Illinois+60707&t=m&z=17&vpsrc=0&panoid=31lwhaBLQV2Qgmqr-cByDA
One house is paid off and we owe around 100K for the in town. I did not consider the tax payment. I always automatically think of mortgage as what you pay for the money you borrowed. I know that sometimes tax is included in monthly payments but that is not the case for us.
“Including property taxes, you don’t pay $32k per year on your *two* residences? Would you still not if they were financed 80% ltv, with 30 year fixed rate mortgages?”
Galewood is probably more racialy integrated than Oak Park, without the self-congratulations for “liberal open-mindedness”. Galewood west of Oak Park Avenue seems to be more stable; there have been foreclosure-related board-ups east of Oak Park Avenue and the racial balance seems to have tipped here too. Eastward to Austin (but north of North) there are more multi-family buildings, more board-ups, and less ambience.
This Galewood tudor is priced too high for 1) Galewood comps; 2) east of Oak Park Avenue location. There’ve been several low-priced foreclosures in the immediate area, which both skew comps and raise concerns about longterm stability of immediate neighborhood. Galewood west of Oak Park Avenue seems more stable, with blocks of well-kept single-family brick homes on often very deep leafy lots and easy Metra access given two separate Metra stops at Sawyer and at Oak Park Avenues.
“what does “diverse safe” mean?”
oops i meant “diverse & safe”. sorry for the typo (& repeated typos). & i just wanted to point out that many people dont know alot about other areas in chicago & they seem to not want to & they just assume the worst of a area before knowing any facts. & sometimes rather just mouth off & try to think they are saying something relevant.
& parting i would like just say to all venture out of your bubble area once in a while you will be pleasantly supprised & might find that all you preconceived notions when wrong & and its not your fault you were working off false facts & just needed the real truth to be shown.
& thank you & have a wonderful day
” I did not consider the tax payment. I always automatically think of mortgage as what you pay for the money you borrowed.”
Yeah, neither do I, but I wasn’t going to argue the point with HD (for once). Based on the example, he was (necessarily) including 1/12 of the annual property taxes in the $2700/month “mortgage” payment.
And, you dodged my other question, which I will assume means that you *would* pay over $2700 per month if your two places were 80% financed + property taxes.
“If you think this is the hood then you need to high tail it on out to exburbs because city living ain’t for you. If you want to see “hood”, go down around Chicago Avenue and Hamlin. It is a real life Hamsterdam for The Wire fans.”
City living takes on a different meaning when you have kids (which is who I imagine would be the target market for this property). I dont know what the school boundaries are in this area, but I would imagine that the folks attending CPS in this general area aren’t the same as those in Oak Park.
That being said, I would not choose to live in this hood.
Found this thread from a link off facebook and felt the need to comment as I as a 14 year resident of Galewood.
Galewood, a part of the Austin community area and bounded roughly by Austin Ave to the east, North Ave to the south, Harlem Ave to the east, and the railroad track which run east-west south of Grand Ave, is one of the very few truly integrated neighborhoods in the city of Chicago. This was historically an Italian neighborhood, however in recent decades a good number of African Americans moved in without the subsequent white depopulation seen in many other neighborhoods. The demographic composition of the neighborhood today is very similar to that of the city as a whole including a large Hispanic component. Broadly speaking the eastern section of Galewood between Narragansett and Austin is more densely populated with a much higher concentration of mulit unit properties. The western section between Oak Park Ave and Harlem has very few multis. This property lies in the middle section. I assume the “hood” comments refer to African Americans. As long as I have lived here there has been a substantial percentage of black residents in the area ~30%+. As near as I can figure, at least in my area west of Oak Park, those residents are of a similar economic demographic as the white residents; pretty solidly middle class good numbers of which are city workers. In that, there is not much difference between Galewood and other bungalow beltish neighborhoods in Chicago. Crime is present in the area and more than you would get in Edison Park. The most common criminal activity I hear of are home break ins and those tend to happen on those blocks with easy access to North Ave. Incidentially, this house is 1.5 blocks off North Ave (1600N).
Socially, this area is not unlike the village of Oak Park to the south of North Ave. I have often jokingly referred to the neighborhood as “Oak Park for poor people”. It is not uncommon for folks to look at houses in Oak Park, get sticker shock, and end up buying in Galewood. However this is not Oak Park, you have city schools and city services, but you also get city taxes. Take your tax savings and pay tuition at one of the many private schools in the area.
During the unusual boom years in the 00s, Galewood did not enjoy the unrealistic price increases seen in adjacent areas such as Belmont Cragin, Mont Clare, and even Elmwood Park. Conversly during the more recent crash years, we haven’t nearly had the numbers of REO and other distressed sales seen in those places, thus while prices have declined, they haven’t plummeted as in those markets.
Personally, though I’m not of the Oak Parky touchy-feely sort, I like the neighborhood, particuarly due to its convenience to other parts of the city and to the amenties in Oak Park and other surrounding areas. The crime here, though mayber higher than city edge neighborhoods to the far north, is not at a level I would fear for my (caucasian) wife or kids to walk around on a warm Saturday evening. The biggest knock on the area is schools. Unless you are a fan of CPS and are cool with Steinmetz as your district high school, plan on tuition as part of your budget. However, the savings you get in taxes over adjacent suburban areas, and initial cost of acquisition over far north edge neighborhoods, may make up for it. Second biggest knock, Park District. Our local parks seem to get overlooked for improvements and programs have been cut to the bone. Sayre Park at Oak Park & Belden does have a new playground, funded partially by the efforts of local residents. For organized youth sports such as baseball and football, you really have to leave the neighborhood.
I stated that I don’t pay 2700$ a month for mortgage in answer to HD’s question. I did not realize I was also engaged in a hypothetical debate with you : )
“And, you dodged my other question, which I will assume means that you *would* pay over $2700 per month if your two places were 80% financed + property taxes.”
“I stated that I don’t pay 2700$ a month for mortgage in answer to HD’s question. I did not realize I was also engaged in a hypothetical debate with you : )”
It’s easy enough to not pay $2700 “for mortgage” on a home of any value, but that wasn’t really the subtext of HD’s query. And you know it. Which is why I used “dodged” rather than “didn’t answer”.
I have lived in Galewood for 6 years and I previously lived in Oak Park. I can’t say enough about how nice Galewood is and I think it is one of the best parts of Chicago. Oak Park is great too and from where I live I could be in Oak Park in less than 5 minutes. The neighbors are great, the kids play together, houses are nice and nicely kept, and we have great transportation options. This area was built to be the “suburbs in the city” so you get a slower pace here and at nice the streets are quiet except for the occasional train horn as it passes through. This is a very close community. We have Facebook pages, Yahoo Groups, and if one bad thing happens here be sure that everyone knows about it and is calling the city/alderman/whomever to get it fixed. I definitely would recommend this area to a friend.
@Russ. I don’t think you can categorize Galewood as being any one type of group. It’s completely integrated in every way. We have lawyers and professionals, factory workers and executives, gay and straight, retired and working, black, white, Hispanic, and Asian. We do have a lot of city workers like most city edge neighborhoods because as a city worker you are required to live in Chicago so they look for nice neighborhoods that have good schools and big yards.
“City living takes on a different meaning when you have kids (which is who I imagine would be the target market for this property).”
I have kids and i live right by this area, city living does take on different view with them, but not as much as people make it out to be.
“I dont know what the school boundaries are in this area, but I would imagine that the folks attending CPS in this general area aren’t the same as those in Oak Park.”
Sayre, the school over here is ok, not bad, not great. same as many Oak park schools, not bad not great. Oak Park does have a better HS thats it.
and why would the folks attending sayre be any different than the oak park school?
“and why would the folks attending sayre be any different than the oak park school?”
Do you really not know what “urban youths” implies?
“Do you really not know what “urban youths” implies?”
i was just hoping he wasnt going there, and also if he was getting him to say it clearly. why, well it sell papers thats why
I thought PITI includes tax and all and “for mortgage” to me meant “for mortgage”. I do not read subtexts to what people write. It is as simple as that and if “I knew it” as you allege, I would have answered differently so please don’t imply intent on others when there is none.
“It’s easy enough to not pay $2700 “for mortgage” on a home of any value, but that wasn’t really the subtext of HD’s query. And you know it.”
Lunker (December 7, 2011, 5:11 pm)
Russ (December 7, 2011, 2:03 pm)
Lunker, you are not going to get a house like that (similar size and renovation level) in Oak Park in that good of shape for much less than $600k.
Rating: +1 (from 1 vote)
I totally disagree. I just checked the MLS plenty in 4?s that would definitely comp against this subject as terms of structure. I’d give Oak Park a +1 on location vs Galewood
Just sayin….Again.
“I thought PITI includes tax and all and “for mortgage” to me meant “for mortgage”.”
“please don’t imply intent on others when there is none.”
Sorry miu, shouldn’t have assumed you’d looked at the sale price of the referenced house.
If you’d known that HD was refering to a $435k house, you *would* have known that he was including taxes, tho, right?
What percentage of people here who own do you think have a $400k+ home(s)? I’d say it’s high.
No worries anon. I think you gave too much credit to my capacity in assessing what HD meant. I am not half as sophisticated as you on these matters : )
” I am not half as sophisticated as you on these matters : )”
Take it back!!
“If you’d known that HD was refering to a $435k house, you *would* have known that he was including taxes, tho, right?”
Really, how many people would know that (w/o consulting a calculator)? I honestly would not. Then again, I’m just a loser=renter.
“Really, how many people would know that (w/o consulting a calculator)? I honestly would not.”
Are you asking for an intervention on your use of Wikipedia to drum up fancy maths terms to impress Miu?
monthly cost of a 30-year mortgage right now is around 50 bips (which you would know if you were a loser home-debtor, rather than a moron renter, or whatever the construct is), 80% of $435 is easy enough. And that ain’t close to $2700.
I guess if your credit is so bad that a lender wants 8.5% interest…
“Are you asking for an intervention on your use of Wikipedia to drum up fancy maths terms to impress Miu?”
No wiki needed but will have to bow out to Ze as have never heard of bisimulation. Sounds dirty too, figures Ze would know.
“monthly cost of a 30-year mortgage right now is around 50 bips”
That’s the part I’m not sure most people, even homeowners=paupers, would know, off the top.
“That’s the part I’m not sure most people, even homeowners=paupers, would know, off the top.”
1. We live in a world that is the mirror image of Webegon.
2. (a) Really? *most* people don’t know how much they pay per month and how much their original mortgage was for, within a few %? Huh. (b) I guess I need to reacquaint myself with my Barnum/Mencken quotes.
3. Yeah, I get that, notwithstanding #2, *most* people wouldn’t convert that to 1/2 of 1% quickly and easily; but I would think that most *would* know that $430k, with 20% down, isn’t a $2700 payment, before taxes, base on what they paid, put down, and pay monthly. But then I should refer myself back to 2(b).
This conversation over a $2,700 a month mortgage payment has turned absolutely ridiculous, again. That’s cribchatter!!!
“*most* people wouldn’t convert that to 1/2 of 1% quickly and easily; but I would think that most *would* know that $430k, with 20% down, isn’t a $2700 payment, before taxes, base on what they paid, put down, and pay monthly.”
First, I’m not sure the accuracy of the $2700 number would have really crossed the minds of most people if they had clicked on the house link and responded to HD’s comment. Maybe, maybe, for some who are paying close to $2700, they might have said hey, that doesn’t seem right, but I’m not even sure of that.
Second, even for people who do ponder it in passing, unless they have a 30 yr at a 5ish percent rate on a total of I dunno $450-600K, I don’t think it would be obvious. I’m not sure that’s a majority of homedebtors. (I think it’s even less likely that people do the 0.8*$430K multiplication to observe that their mortgage size is similar but their payment is well off.)
And third, the 50 basis point rule of thumb is much appreciated should I ever buy a place (I prob should stop harassing Icarus about his state of preparedness).
“This conversation over a $2,700 a month mortgage payment has turned absolutely ridiculous, again. That’s cribchatter!!!”
It’s not a $2,700 mortgage payment!!!!
I like Galewood, too, but IMHO the bigbigBIG problem with it is the lack of easy public trans (aside from the Metra stop at that gorgeous Mars factory) to downtown. This is of course a major detriment for many nabes in the NW side such as Bemont-Cragin, Peterson Park, etc.
“Sounds dirty too, figures Ze would know.”
What can I say…Some people study Sun Tzu, Ze wins by the ‘ol “don’t argue with an idiot, he will just take you down to his level and beat you with his experience.”
I should have been a plumber. Then I would be able to talk all day, about laying pipe and my ballcock.
(I prob should stop harassing Icarus about his state of preparedness).
but then you’d need a real hobby like golf or stamp collecting. 😀
Cookie cutter 2/2 all over the north side can’t hold a candle to this place. Very nice character and wonderful feelings of being home. I love the home. I don’t know much about the neighborhood… but neighborhoods CAN get better or at least to a place that they’re okay and safe. Some places never get better, I always hear about the shooting in Uptown day after day after day. Got to do your homework. House wise it is amazing!
“It’s not a $2,700 mortgage payment!!!!”
It is if you’re the kind of sucker that agrees to a tax and insurance escrow, even tho there is (for your particular loan) no cost to choose no escrow.