Why is ANYONE considering buying a house right now in this market unless you have to? (Chicago: upper-class, 2009)

[oakparkdude]

Originally Posted by Humboldt1

I think Austin has improved significantly over the past 5-10 years but from what? That is an area still filled with poverty and gang conflict. I suppose North Lawndale and Garfield Park also improved along the same lines. I do not know of any areas in Chicago where values did not go up over the last 10 years, including Englewood.

Is it improving when values go up or is it just appreciating real estate? Crime may have gone down but it is still very high in Austin.

Well, you gotta start somewhere. Bad is still better than very bad. I've learned a long time ago that you should never say "Well, it can't get any worse", because things can always get worse. We'll have to wait and see what the next two decades (or more) hold for Austin. This will depend a lot on macroeconomic and larger societal trends.

[Havasu]

Originally Posted by Schnooks

The housing market isn't close to bottoming out and sellers around here aren't budging hardly at all in asking prices. Why would you want to buy when as soon as you sign the value of your house is going to go down?

This is the first post of this thread. Not much has changed since Jan 2007

[Lookout Kid]

Originally Posted by Havasu

This is the first post of this thread. Not much has changed since Jan 2007

The first post is from January of 2008.

[Havasu]

Originally Posted by Lookout Kid

The first post is from January of 2008.

Ooppss your right sorry about that.

[rongoe]

took wife on 3-day househunting trip last week. We are now deciding between LaGrange and Wilmette (Frankfort is a bit too suburban, too uncertain of a recovery time, though big homes are way cheaper there given the steep price drops).

Which would you choose... lot is 50x196 in East Wilmette but house needs a little updating (bathrooms soon, kitchen eventually). Lot is 50x167 in LaGrange but house is recently updated and with a little more space given the usable basement and large room on 3rd floor. We've got 4 kids aged 3 to 11. Either home can be purchased for around 715k.

How bad would driving from LaGrange (from near 55th and Lagrange Rd) to Hyde Park be? I-55 to lake shore south is about 20 miles. It seems that driving would be an option from here, whereas driving from Wilmette would be out -- train only.

thanks, in advance, for sharing your thoughts.

[chet everett]

Pretty accurate assessment of the areas. I fully expected that you would be facing some fairly out dated places in New Trier districts for about the same money as "move in ready" in LT attendance area. And Frankfort does have the newest/largest houses for the same money.


LaGrange can be an OK commute to Hyde Park. Stevenson moves pretty well, and despite the fact that is angles the 'wrong way' going from LaGrange to Hyde Park ought to be under an hour by car. Of course some days will be longer, but our weather is not perfect and collisions do happen.
Off peak the trip is probably done in 35 minutes, peak times grow but should not typically add more than 15 minutes or so.

Good to see you are "closing in" on a target!

[rongoe]

I spoke with a woman who claims she can get into HP in 30 minutes, leaving by 7, via Stevenson to Lake Shore Drive. Getting home is bad on the highways, so she takes 55th st, which takes about 40-45. That sounds like it might trump the train/bus which would be about 1:15.

Too bad the 55X doesn't serve west of Midway airport. Are there any park and ride lots there?

[chet everett]

I would concur with those times are possible -- I'll bet she takes the 1st Ave entrance to the Stevenson, before 7:15 or so that is easy shot to save time.

Here are some alternates:
from: East Ave, La Grange, IL 60525 to: 5721 S Maryland Ave, Chicago, IL 60637 (Comer Children's Hospital) - Google Maps

from:East Ave, La Grange, IL 60525 to:W Archer Ave @41.792250, -87.787890 to:41.796912,-87.706604 to:5721 S Maryland Ave, Chicago, IL 60637 (Comer Children's Hospital) - Google Maps

from:East Ave, La Grange, IL 60525 to:I-55 N/Stevenson Expy N @41.847890, -87.623050 to:41.82199,-87.601547 to:5721 S Maryland Ave, Chicago, IL 60637 (Comer Children's Hospital) - Google Maps

[rongoe]

indeed she mentioned the 1st ave ramp as being a time saver.

I'll check out your other suggested routes too.

We just decided on the LaGrange home. Not an easy decision, at all. In the end, commute flexibility (i.e., option to drive) and better house trumped proximity to the lake and being in New Trier.

[kevin444]

There are alot of good buys out there right now. If Someone is looking to buy and isn't contingent you can do pretty well.