new additional information

Dear reader,
for the last 22 months I've been writing for the Chicago Pipeline.  My short articles cover what seems interesting to me and to my current buyers and sellers.  Each week I include the recently closed properties in the Bucktown and Wicker Park neighborhoods of Chicago. 

The Pipeline is owner and editor is moving to the new DNAinfo web news for Chicago.  This means closing the Pipeline for the most part.  It's rather sad, but opens new opportunities.    For me it means setting up a new place for the weekly data postings and interesting paragraphs.  That new place is http://residentialspaceschicago.blogspot.com/

Perhaps you will join me at that place, or here.

Enjoy the buying, selling and renting of property - as I do - every day.

Eva Bergant

Residential Spaces - Bucktown and Wicker Park - October 2, 2012

This week 5 of the 10 closings were at 99.1% of the list price or higher.  The number of properties available on the market today is less than it has been recently.  In fact, there are just 3.7 months of inventory in the area, if buying continues at the current rate.  At the end of September 2011 there was over 10 months of inventory of condos and nearly 8 months for single family homes.   Great property that is priced at today’s market is selling quickly.  This is a big market change, and prepared buyers and sellers are making the market move quickly.  Current interest rates continue to be low and attractive. 

The FHA loan programs have a recent change that makes this a financing option for more condo buyers with 3.5% down.  They have increased the maximum % of investor ownership in a condo association that will potentially qualify for FHA loans.  Your loan officers can tell you more about what types of loans you qualify for and what types of properties you are able to purchase now.

Bucktown/Wicker Park closings last week:  2 Detached single family house, 4 Attached condos, and 4 2-4 unit buildings

2Sold - Detached Single 

2125 W Homer 2 bedroom 2 bath 2 Stories 5 days $416,000

1633 N Hermitage 5 bedroom 3.1 bath 3 Stories 1 day $990,000 (99.1%of list price)

4 Sold - Attached Single 

2012 W St Paul #414 2 bedroom 1.1 bath parking, Condo, Duplex, Loft 28 days $300,000 (just over list)

2331 N Lister #D 2 bedroom 2.1 bath 2 garage Townhouse 3+ Stories 23 days  $385,000

1751 W Julian #5 3 bedroom 2 bath 2 garage, spaces Condo 6 days $405,000 (101.5% of list)

1846 W Armitage #1E 3 bedroom 2.1 bath garage Duplex, Condo 9 days $490,000 (106.3% of list)

4 Sold - Two to Four Units 

1350 N Bell 2units, each 3 bedroom $269,900 (Short Sale) (100% of list)

1312 N Claremont 3 units each 3 bedroom $375,000

2232 W Lyndale 2 units – 2 bedroom + 1 bedroom $410,000

1219 N Damen 2 units 3 bedroom + 2 bedroom 5 days  $518,000

Quick take –

What’s on the market now?  List Prices - High Low Average Median

47 Active - Detached Single

$4,400,000 $259,000 $1,334,679 $1,100,000

99 Active - Attached Single

$749,900 $130,000 $414,861 $399,000

14 Active - Two to Four Units

$1,175,000 $270,000 $544,243 $429,500

*** Information sourced from MREDLLC; 10/1/12. Residential properties - Bucktown (Ashland, Western, Fullerton, North) and Wicker Park (Ashland, Western, North, Division)

Have a topic you’d like to see explored or a real estate question send it in. 

If you’d like more information on properties currently on the market or selling your home just drop me a note at EvaB@atproperties.com

Location, location, location - Part 3 – Services

Bucktown and Wicker Park continue to be a destination for Chicagoans and tourists.  We have an abundance of great shopping and dining locations – many of which are supporters of the Pipeline.  We have great local businesses that provide us with every convenience – dry cleaner, car washes, pet services, small grocers and quick stops, lunch spots and shops to get the last items for a great night.  Our choices seem to continue to grow and supporting our local businesses maintains our high quality of life and the desirability of our neighborhoods.

Location - Education access

Location, location, location - Part 2 – Education

From pre school to post graduate studies Bucktown and Wicker Park has the options and the opportunity to reach your goals.  Our parents work with the locals schools to ensure the best quality education is available to their children.  We have several great public schools to walk to and others that are available options. To find out more on the Chicago Public Schools for your address go to http://schoollocator.cps.k12.il.us/   Our neighborhoods have multiple private schools providing choices to parents and offer quality pre-school education and care.  High Schools and Colleges are easily reached by the great transportation options we talked about last week.  Our local demographics show many residents have post graduate degrees or are working towards higher education goals. 

Chicago-area home sales post best January in five years - Residential News - Crain's Chicago Business

“Motivated buyers and sellers moving in what has been a mild Chicago winter have helped move both distressed and traditional properties,” Bob Floss, president of the Chicago Association of Realtors, said in a statement. "

Read it all here:

Chicago-area home sales post best January in five years - Residential News - Crain's Chicago Business

Location - transportation +

The mantra in real estate has always been “location, location, location.”

In Wicker Park and Bucktown, we have several location strengths, beginning with our easy access to the Blue Line and hence to downtown and our airports. CTA buses are readily available, as are taxis. Metra schedules provide an easy link to the suburbs or Loop, and a favorite way to attend Ravinia concerts in the summer. Bicyclists enjoy the bike lanes on Damen and Milwaukee , as well as on Armitage.  There’s new orange bike racks, too.

Those that drive have many ramps in which to enter and exit the Kennedy Expressway (I-90/94) and those in the know know that there’s some great side streets where you can usually avoid congestion, too. All of these location-related boons continue to make Bucktown and Wicker Park a desirable location in which to live, work, and play.

Tax Preparation 2012

Spaces January 15, 2012

Tax preparation season is upon us.  Now is the time to create a Taxes 2011 folder for all the pieces that come in the mail and to collect the information you will need to fill out your return.  Home ownership provides you with deductable mortgage interest and property taxes.  If you bought or sold real estate, or refinanced, this past year, pull out the HUD or RESPA form that was part of your closing documents and provide that to your tax preparer.  Consult with a CPA or tax professional for more details on this and deductions for the new child in the family, education expenses and charitable donations.  As with everything supporting documentation is very helpful. 

Bucktown/Wicker Park closings this past week: 1 Detached single family houses, 2 Attached condos. 0 2-4 unit building:

Detached Single

1406 N Bell, 4 bedroom, 3.1 bath, $622,000

Attached Single

1641 W Le Moyne #3, 3 bedroom, 2.1 bath, 1 parking space Condo-Duplex, Penthouse, $399,000

1304 N Wood #3, 3 bedroom, 2 bath, garage space, Condo Duplex, Penthouse, $445,000

Quick take - What’s on the market now? 

Type, (number), Max, Average, Median, Min Price

Detached (64 properties), $4,400,000, $1,019,329, $762,500, $250,000

Attached (161 condos), $1,099,000, $378,416, $375,000, $79,000

2 -4 units (31 properties), $849,900, $498,925, $499,900, $179,900

*** Information sourced from MREDLLC; 1/15/12. Residential properties - Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Have a topic you’d like to see explored or a real estate question send it in. 

If you’d like more information on properties currently on the market or selling your home just drop me a note at EvaB@atproperties.com

Freddie Mac to give unemployed homeowners a break

When job loss is the reason you are unable to make your mortgage payments the banks have the ability to defer your payments for up to 12 months now. See the following article for more on this assistance in avoiding a short sale or forclosure.

Freddie Mac to give unemployed homeowners a break

New Years Resolutions 2012

Like most Americans, I'm not very loyal to my New Years Resolutions.  It just seems like too much emphasis on change in the month of January.  I tend to spread my resolutions around over the course of the year.   That said, the surveys of people this 2012 New Year have shown the usual weight loss plan has been beaten out by building a savings plan this year.  So I wish you all well on them both. 

The following article takes a look at New Year's Resolutions and how you can point them at your home.  I'm continuing with #6 and adding more of #9

http://www.houselogic.com/home-advice/home-thoughts/houselogic-new-years-resolutions-home/