6 Lincoln Square single family homes have closed in January 2011
I think we'll have more homes sold this year in Lincoln Square than 2010 as buyers and sellers continue to get closer together in their understanding of the market. It also took buyers a long time to gain confidence and realize that interest rates and home prices are more affordable to them than during the bubble. The main obstacle will continue to be how many people motivated to sell their homes can actually afford to sell them.
Luckily I did not have to be on the road today. However, neighbors and I spent the day digging out our houses, alleys and neighbors' cars. What a great block!
Blizzard 2011! Here's a few shots this morning from the Ravenswood neighborhood of the greater Lincoln Square community area in Chicago. Homeowners face up to five foot drifts in front of their houses and in the alleys.
Realtors have a saying... "If you want to sell something, go out of town and an offer will come". That's now true for snowstorms. With the weather getting worse by the minute, we are seeing offers coming in for our listings for sale and our clients moving forward on purchase offers.
One set of savvy, smart clients is offering site unseen on a new short sale listing that just hit the market in Ravenswood.
The town house is located just minutes to Old Town and River North amenities and nightlife. However, can one overcome the sterile setting of the complex landscape?
Lincoln Park town houses under $400,000 remain a hot commodity, if you can find one. They are usually two bedroom units located adjacent to the CTA elevated tracks, banished to the far nether regions waaaayyyy northwest in Lincoln Park (almost Lakeview!).
*Looking at the last six months 12 Lincoln Park townhouses have sold or are actively listed now for $400,000 or less (7 closed, 5 listed now).
*7 of the 12 are adjacent to the "L" tracks!
*In the last six months there are a combined 75 town house units actively listed or closed OVER $400,000.
Call us if you are looking for town house options on the North Side.
We've been out showing our clients properties in bustling East Lakeview and it's not just for condo dwellers. Some families are opting for luxury single family homes and town houses near Lake Michigan in this eclectic neighborhood. New construction in the densely populated neighborhood is rare, and with new construction five bedrooms row homes at $2,500,000, notable.
Sellers take note: We are seeing more and more buyers looking at condos or town houses in their budget in many different neighborhoods. This is particularly true for the $300,000-$500,000 price-point.
For example, we have one set of buyers this weekend looking in a budget of $350,000 to $400,000. We will see a newer townhouse in Near North, a two-flat and duplex in Logan Square, a two-flat in Bucktown and a townhouse in Lincoln Park. Buyers want value and can shift neighborhoods these days to find it.
The one common thread is decent space and transit options. It's all on the table from there! When pricing our clients homes, we take into account how likely buyers can find similar space and amenities in another neighborhood. We go the extra mile to make sure our selling clients are not chasing the market, but making the market and securing a very qualified and motivated buyer.
Just listed for sale today, this Lincoln Square, Ravenswood neighborhood two bedroom, one bath condo has everything our buyers ask for: Deck, central air, in unit washer and dryer, storage and parking!
Details: $275,000, Taxes $3315 (will be lower with home owners exemption), Low Assessment $179!
Top floor sunny, east facing gut rehab. Four exposures! In-unit washer and dryer, central heat and air, surround sound, big storage and PARKING included. True dining, sun room or office. Large, gorgeous EAT-IN KITCHEN, stainless steel appliances, disposal, dishwasher, granite. Attractive bath with jet tub. Spacious DECK off kitchen. Close to Ravenswood METRA, Brown Line, Andersonville and Lincoln Square amenities. Enjoy Winnemac Park. 100% owners, well run building! Great, quiet location yet near tons of restaurants, bars and fun.
Believe it!
