Springfield......a nice place to live? (Grandview: tornado, for sale, apartment)

[Frog3]

I'm not from Illinois but I'm looking around for a place to buy a home. I've seen a lot of inexpensive homes for sale in Springfield. I mean REALLY inexpensive homes. I can hardly believe the prices I see on Trulia and Realtor.com for the 62702 and 62703 area. There are some nice fixer upper houses around $20,000. I'm thinking something like this would be great for a first time home buyer like myself.

What do locals think? Are prices low as a result of the economy or for some other reason?

[TrixxiSpumoni]

I was raised in the 62703 area of Springfield, which is a great place to live. Some of the houses are small, even with three bedrooms, but the best thing is that they're all different, and they don't look like the manufactured, five-design -only homes that you get in new subdivisions. My family's house was fairly large, with a basement, but only one bathroom, so my dad added another one downstairs. Many of the homes in this area have nice yards with a patio or a breezeway. You're close to Lake Springfield and there are tons of restaurants, plenty of grocery stores, and it's relatively quiet. A great choice for a new homeowner.

[breer23]

I grew up in the 62702 area (Grandview, specifically) and can say that part of the area is quite good, while some of it has gone downhill, mostly due to the demographics in the area.

Much of it used to be a blue-collar area, but when much of the industry left Springfield in the 1980's & 1990's, the area turned more into a renter's community. My point is, the 62702 area is very hit-or-miss.

I can't comment as much on the 62703 area, as I've never lived there, though I have (had) several friends who do or grew up in that area. Again, some areas are better than others - I could probably help more with specific areas (street crossings or neighborhoods).

If you're looking to purchase the home either as a rental property or for your own residence, check the area out for yourself.

[Frog3]

Originally Posted by breer23

If you're looking to purchase the home either as a rental property or for your own residence, check the area out for yourself.

Naturally, that would be the next step. I wanted local opinions before I fly out. Thanks. Small and cozy is fine with me. It's cheaper to heat in the winter. Living in an area where there are a lot of renters and diverse demographics is not a problem. People who rent are good people too. It keeps the snobs out. No one likes them but other snobs. LOL

[studedude]

I don't live in Springfield but have spent a lot of time driving around town, killing time while my wife attended meetings. What I found was everything from very nice to very run down. They also had a lot of damage from a tornado I believe last spring. I suppose a $20,000 house would be from column b or c. Bring your work clothes and some tools and you may get a great deal. Really you don't need to bring clothes or tools. Springfield is large enough to have everything you need there with enough spare time activities to keep the wife and kids busy while you fix up the house.

[AnimalLover]

Here's an update on our housing market:

Springfield housing tops in Midwest -- chicagotribune.com

[AnonymousCoward]

Originally Posted by AnimalLover

Here's an update on our housing market:

Springfield housing tops in Midwest -- chicagotribune.com

I often wondered if this city could possibly be any less trendy. Thankfully, or perhaps as a consolation, at least trends in the national housing market aren't reflected here. It helps make up for the lack of a Chick-fil-A, Apple Store or a Costco :-)

Although property seems to be appreciating, 14.4% annual appreciation sounds tough to believe. Still, fairly priced homes in decent neighborhoods seem to sell relatively quickly. Overpriced homes, or homes in declining neighborhoods, seem to sell slowly. I wonder if some of the increasing supply of home sellers don't include people with unrealistic ideas of what their homes are worth.

I'd caution the original poster against looking at the bottom of the market. It may not be possible to find a livable property for 20k. Spending a more might be well worth the money. In my opinion, two of the nicest neighborhoods in town for the money are Northgate (just south of Sangamon Ave) and Laketown (south of Stephenson Drive). Cozy/small homes that are very livable but might need some updating can be had there in the 60 - 80k range. Both areas seem to be well maintained and are relatively safe and convenient.

[Cooliner]

Originally Posted by Frog3

I'm not from Illinois but I'm looking around for a place to buy a home. I've seen a lot of inexpensive homes for sale in Springfield. I mean REALLY inexpensive homes.As you may know, Many houses downtown Springfield dates back the contruction period after the hit of Tornados in 1896 and they still face major problems of plumbing I can hardly believe the prices I see on Trulia and Realtor.com for the 62702 and 62703 area. There are some nice fixer upper houses around $20,000. I'm thinking something like this would be great for a first time home buyer like myself.
If you really aim to live in downtown, it'd better invest in a more modern home apartment.
What do locals think? Are prices low as a result of the economy or for some other reason?

see coments in red above

[BrassTacks]

Of all places, why Springfield? It would be nice to know more about your reasoning/preferences/lifestyle. I moved here over ten years and can't take it anymore - will be geting out a.s.a.p.

The town's infrastructure has major problems it can't pay for, city keeps getting sued, taxes/rates/fees keep jumping, businesses folding or moving out, events and entertainment venues not returning. It is not the same town I chose 12 years ago and will not be getting better anytime soon with its financial problems.

As for finding a small fixer-upper for $20K, I don't believe it. (Not even in a dangerous area of town.) I am a commercial property owner and landlord here and assure you the economy and housing market are not as stable as the statistics and "locals" would have you believe. Please do not buy unless you are determined you will be staying there for 5-10 years and have a stable job.

Sorry to burst your bubble, but be realistic and talk to some people who don't have a personal agenda. People who have lived elsewhere. For the cost of living here, there's little in return compared to other towns of the same size.

[Clint_Noname]

Originally Posted by Frog3

Springfield......a nice place to live?

Nope. Springfield is a crime-ridden wasteland, with gangs and drugs being a huge problem almost everywhere in the city (maybe except for some secluded areas with lots of open space, but you would still have to go into the city to eat and shop). When the city government demolished the hay homes where many of Springfield's poor residents lived, these residents flocked to areas of Springfield that used to have low crime...and now they're robbing and assaulting middle- and upper-class people in these areas. And guess what they demolished the "hay homes" in favor of? Luxurious homes for the rich people! Now just how crazy is that?!?