A rare sight in Mt Greenwood PLEASE READ (Chicago: appointed, for sale)

[MarquettePark]

I just got home today, from work in the Little Village area, and I decided to take Kedzie all the way home from 26th street to 159th st and naturally that route will take me thru Mt Greenwood/Beverley AKA: Cop Land South, and to my amazment, I saw more than two for sale signs on homes, actually I saw about 15 signs. I also saw something else, more rare than for sale signs, but reduced price signs, on top of the for sale signs. Yes MULTIPLE HOMES FOR SALE IN MT GREENWOOD ZIP 60655, AND REDUCED PRICE SIGNS ATTACHED TO THE FOR SALE SIGNS

In my 37 years of life, and growing up, working, living around this area, I have never seen so many homes for sale, and have never seen so many homes for sale this long, and still not sold and reduced price to boot,

I have mentioned in countless posts, that Mt. Greenwood is the UTOPIA of the southside, a slice of paradise, "A place that I dreamt of living in when I was a child on my bike exploring the city" "A place that seemed so out of touch for me and my family, that living there, would involve winning the lotterey" "A place where a two bedroom woodframe house sells for half a million dollars in 2001, now selling for less than 215k, UNBELIEVEABLE.

If you can tolerate living on the south side of chicago, and want a neighborhood that resembles a "South Burb Feel" I would do a search for all of my posts on this hood, and take a drive to it, thru it, on a Saturday or Sunday you wont be disappointed

[MarquettePark]

Just look at the swing up and then the swing down,

This neighborhood, traditionally is recession proof, because of the large number of city employees living here, "They get a check every payday and the banks, and realtors know it"

[Drover]

So if I follow you here, you actually believe there has been a nearly 60% depreciation in property value in Mount Greenwood in just the last 6 years? I bet the people who actually have to pay the taxes on those properties would be stunned to hear it.

Take a look at the graph in your own post, and let's presume for the sake of argument that said graph actually reflects the home values of Mount Greenwood, though it doesn't actually say what borders it is measuring. Notice the modal price on a house in 2000 appears to be somewhere in the $150K range; and you claim standard frame houses in the neighborhood were selling for half a million just one year later. I'm not sure you really understand what that data graph actually represents, or that you have a firm grasp on the pricing trends of real estate in the neighborhood.

[67 and Artesian]

This is why the market gets so screwed up. if you take all the sales and average them in an area like that it is not going to come out right.Those two bedroom frames are very tiny less than 750 sq. ft. New homes ( x-large) sold for 500,000
knock downs were 200,000. Lot's of rehabs and flips pushing prices up.If you are smart look for a sturdy brick home and rehab yourselves. People do not like to live on busy streets that is why in a slow market homes look like they are sitting on the market. Real Estate goes in cycles long term growth.

[Manigault]

Originally Posted by MarquettePark

In my 37 years of life, and growing up, working, living around this area, I have never seen so many homes for sale, and have never seen so many homes for sale this long, and still not sold and reduced price to boot,

For how long when you were growing up was it illegal to post a "for sale" sign on a residential property in Chicago?

[crbcrbrgv]

Originally Posted by Manigault

For how long when you were growing up was it illegal to post a "for sale" sign on a residential property in Chicago?

Now THAT'S a good question. My grandparents lived over there (Irish catholics, what a shocker, eh?). I figured the rare sight you saw in Mt Greenwood was someone of another race.