What’s Selling? Homes at 50% off 2006 Prices: 2922 N. New England
Foreclosures and short sales continue to dot the landscape in the far western corners of the city like this 4-bedroom 1939 brick tudor at 2922 N. New England in Monteclare (which is next to Oak Park.)
Monteclare is full of brick bungalows, tudors and other smaller homes built mainly in the 1930s.
This is a foreclosure that was originally listed in February 2009 and reduced several times.
It’s finally under contract.
The listing is 60% under the 2006 purchase price and also 25% under the 2000 purchase price.
There are no interior pictures (sorry).
Did someone get a “deal”?
David Norberte at A.C.T.ION Real Estate has the listing. See the listing and one picture here.
2922 N. New England: 4 bedrooms, 3 baths, 2 car garage
- Sold in July 2000 for $183,500
- Sold in November 2006 for $345,000
- Bank owned as of January 2009
- Originally listed in February 2009 for $159,900
- Reduced several times
- Currently listed for $137,500
- Recently went under contract
- Central Air
- Bedroom #1: 13×10
- Bedroom #2: 13×10
- Bedroom #3: 22×10 (second level)
- Bedroom #4: 11×9
Just a bit too close to Austin for my tastes…. next!
If it’s safe to assume that the interior is not trashed, then yes, I think it’s also safe to say someone got a deal.
This buyer got a deal.
And to all the putzes who say that we claim every property featured on this site is overpriced: nope. There just happens to be a lot of overpriced properties in relation to the correctly priced ones, not our fault if you wound up buying one of them.
If its been listed for a while there’s probably something wrong with it.
Bob–No way to know w/o interior pics. Maybe the defaulting borrower was your not-so-evil twin and there are holes in every surface–vertical, horizontal or otherwise. $140k is too much for a lot in Monteclare.
Oh, and there’s another across the street–frame, but with a pool and a 37′ lot–for $135,500.
So, affordable home in a non-awful enighborhood. Sounds like a “deal” after the past 10 years.
Monteclare is a relatively quiet and safe neighborhood; it’s not Austin. Neighborhood is a mix of Polish and Hispanic families and other families. Home and lawn maintenance is fairly consistent; it appears to be a stable blue-collar/clerical-level middle-income neighborhood. There is Metra service, with stations at Sayre and Oak Park Avenues, so downtown commute is easy. This house is about a mile from station; an easy bike-ride and parking is available. I think it’s a sleeper neighborhood of quiet potential; it will never be trendy, but a good place to hunker-down during an extended period of economic turmoil.
And note that Galewood, technically within Austin, is also a quiet and safe neighborhood tucked into the northeast corner of North and Harlem Avenues just north of Oak Park’s nicest neighborhood.
If this house isn’t trashed on the inside, and doesn’t have a serious mold problem due to water damage and/or deferred maintenance, it’s a good deal. This is inexpensive living.
This place was never worth anywhere near $345,000. Pure bubble market insanity.
Even at that price, it might as well be Norridge. Next!
We are now currently trying to buy a house on foreclosure listed by same guy
David Norberte at A.C.T.ION. The price is low BUT:
So far our agent was never able to reach him. All he managed to do – reached him by e-mail.
So it is a good question who is going to get the deal.