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Old 02-08-2016, 03:06 PM
 
255 posts, read 476,656 times
Reputation: 560

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Quote:
Originally Posted by animalcrazy View Post
Howdy neighbor. I think I have a pretty good idea of where you live as we are in the next outer ring and about 20 minutes from the loop. I understand how attached you are to your house, but that being said, if you can't walk your dog without feeling unsafe, then it's time to go.

Come here where I live and yes you will pay more in property taxes and more for a house, but there are a lot of bungalows here with those beautiful stained glass windows and Chicago style wood work. I walked my boys at midnight last night and never felt a twinge of danger.

It's unfortunate that scum bags take over a town and turn it into crap, but I guess they have to live somewhere. I say get the H out of there before it's too late and your house is only worth half of what you paid for it. Or you wake up one night to someone you didn't invite in your bedroom.

It is what it is and you need to think logically about what you need to do and leave emotion out of it lest you stay in a dangerous town forever. Please feel free to DM me if I can help you. We're actually a very friendly town and I can introduce you to one of my friends that I met one night while we were walking our dogs in the middle of the night.

You might even find that the increase in the quality of your life was worth the extra money here. There are still some bargains around and some really nice condo's close to the train. You can walk to pretty much everything you need as well.
Thanks! You'll be hearing from me. It's still ok to walk the dog, run errands, etc but I'm thinking worst case scenario here.

I think it's harder for my hubs to come to grips with it but as you say, it is what it is and we're thankful that we have choices!

We're blessed that we were here before and during the real estate bubble so the value is still considerably above what we've paid for it. I'm also thankful that my neighbors appear to be solid people but they are insular and not really interested in getting to know others not of their ethnicity. That's ok. Many years ago my husband was an immigrant from Europe so we understand that often-times what we as Americans think is unfriendliness is a cultural thing. People ashamed of their English skills and not wanting to be nosey.

It's an unfortunate thing when people in urban-suburban areas have to think of safety as a "Well, my block is ok" thing. I didn't grow up that way and we won't retire that way either.
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Old 02-08-2016, 03:43 PM
 
Location: Wasilla, AK
7,253 posts, read 4,136,323 times
Reputation: 15661
Quote:
Originally Posted by rjm1cc View Post
I agree with you she should not rent her home. Even if it was in a good neighborhood I would not want to her to rent it out.

My suggestion was that she sell her home now. Even though they plan on working in the area for another 5 years. She should rent an apt for herself for the last few years of their working life.

The OP never wanted to rent out her home. She was discussing selling her home and renting a place to live until retirement.
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Old 02-08-2016, 04:15 PM
 
14,260 posts, read 23,987,654 times
Reputation: 20072
Quote:
Originally Posted by bungalowdweller View Post
Thanks! You'll be hearing from me. It's still ok to walk the dog, run errands, etc but I'm thinking worst case scenario here.

I think it's harder for my hubs to come to grips with it but as you say, it is what it is and we're thankful that we have choices!

It's an unfortunate thing when people in urban-suburban areas have to think of safety as a "Well, my block is ok" thing. I didn't grow up that way and we won't retire that way either.


I feel your pain.

A number of years ago, I moved to St. Louis is an "up and coming" neighborhood. Thirty years later, it still has not changed much. I drive through, see evidence of drug activity, an occasional street walker and the like.

A lot of my old neighbors are still there as they cannot afford to get out. While their housing values have slowly declined, affordable housing in other neighborhoods has increased to a level that they can no longer afford to make the move.

At first, we tried to become involved in neighborhood watch only to find out that 1) we were exposing ourselves to danger and 2) that the police were irritated by our calls to actually enforce the laws.

My recommendation is to cut your losses now while the real estate market is decent. I would try to also work on some retirement planning to determine where you are planning to retire.
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Old 02-08-2016, 04:27 PM
 
2,677 posts, read 1,071,493 times
Reputation: 5171
Quote:
Originally Posted by bungalowdweller View Post
I love my 1920's brick bungalow located in an inner-ring suburb outside of Chicago. My husband and I paid off the house and will retire in less than five years. We have one child in college who will be finished next year. The problem is that our town has a poor reputation which is reflected in the property value. The house is worth less than $200,000. We're saving like crazy but I can't imagine where to go after being here over 22 years. My network of friends likewise have homes in the inner ring although not in my town. As a white woman I'm a racial minority now that my town has turned to majority Mexican and I am uncomfortable with the idea of retiring in place. Crime is a definite issue and I fear that one day it will be too dangerous to even take my dog for his daily walk. I have ONE good neighbor & friend on my street but she's older and may not remain in her home if her health deteriorates.

I'm really torn about what to do. This spring I'm replacing the roof but there are constant repairs to a property this old. Neither of us have any family except for our only child so my friends are very important. I have no idea what to do. Illinois is a fiscal mess and I don't want to make a bad financial mistake. I feel strongly that given the present economy it is not a time to sell or buy in the Chicago area. Every house that is in a decent community is at LEAST $100,000 more with taxes in the $7-8000 range. I don't pay anywhere near that now. I know that we have time as retirement won't be for a few years yet but this is troubling me.

Any thoughts will be greatly appreciated.
By the time you retire your opinions and out-look will have changed. You will see your options for living space will include retiring to supportive living apartment. I don't think you will be capable of doing household chores as well as before and the landscaping will be twice as hard. It's going to be a tough thing to accept but we all have to go through it sometime or other.

It is better to sell your house soon despite what you think it is valued at because of the change in demographics that you are fearful about.
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Old 02-08-2016, 04:30 PM
 
255 posts, read 476,656 times
Reputation: 560
Quote:
Originally Posted by jlawrence01 View Post
I feel your pain.

A number of years ago, I moved to St. Louis is an "up and coming" neighborhood. Thirty years later, it still has not changed much. I drive through, see evidence of drug activity, an occasional street walker and the like.

A lot of my old neighbors are still there as they cannot afford to get out. While their housing values have slowly declined, affordable housing in other neighborhoods has increased to a level that they can no longer afford to make the move.

At first, we tried to become involved in neighborhood watch only to find out that 1) we were exposing ourselves to danger and 2) that the police were irritated by our calls to actually enforce the laws.

My recommendation is to cut your losses now while the real estate market is decent. I would try to also work on some retirement planning to determine where you are planning to retire.
I just read a thread on the "Illinois Suburbs" forum about folks trying to get out of highly taxed suburbs to the north and west of me. How their property values are tanking. . .and no buyers in sight.

I can't help but think that my neighborhood is the future of Illinois. With the underfunded pension liabilities here I think that unless there are some major changes the state is cooked.

You're absolutely right about conflicting police messages. I've done "Adopt A Block" and Neighborhood Watch for many years with mixed results. Now if there's an issue I do it the "Chicawgah way"-----I call my Precinct Captain at home and he takes care of it.

If this was Manhattan NYC maybe I'd put up with it but I'm thinking about using our home here as a home base as we travel a bit and look around this great country of ours and see what's available. Until politics change here I don't see things getting better.

What's happening to St. Louis is criminal. Chicagoans are following the news with great interest. . .and sympathy. It was a great town.

I appreciate your comments-----it helps me to remember that I'm not the only one going through this!
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Old 02-08-2016, 05:45 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by otterhere View Post
I don't think that's what the poster was suggesting.
No, she wasn't; I misread rjm's post having read it on the fly.

At any rate, renting out a home in a deteriorating n'hood (and some owners do have to do that, she not among the) is never a good idea.
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Old 02-08-2016, 06:20 PM
 
14,260 posts, read 23,987,654 times
Reputation: 20072
Quote:
Originally Posted by bungalowdweller View Post
I just read a thread on the "Illinois Suburbs" forum about folks trying to get out of highly taxed suburbs to the north and west of me. How their property values are tanking. . .and no buyers in sight.

I can't help but think that my neighborhood is the future of Illinois. With the underfunded pension liabilities here I think that unless there are some major changes the state is cooked.

I appreciate your comments-----it helps me to remember that I'm not the only one going through this!

When we bought our current home in March 2014, we had not completely decided when we would sell our Chicagoland condo. We had intended to put it on the market in March 2015 after we had decluttered and done some minor repairs.

The Realtor disagreed and wanted us to place the house on the market and we listed it in Late March 2014. We had an offer $2k less than our offering in six weeks and accepted it. That created some interesting situations as we had to find a truck heading to AZ for our goods. At the time, my wife had not mentioned to her boss that we had sold our home and that we were moving and a few more complications.

(To this day, I wish we had sold our house in 2006 when people were paying stupid money and cheap rentals were the norm. However, the expense of moving and the hassle kept us from doing that.)
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Old 02-08-2016, 08:20 PM
 
Location: Nebraska
4,234 posts, read 7,266,076 times
Reputation: 6700
Quote:
Originally Posted by bungalowdweller View Post
I love my 1920's brick bungalow located in an inner-ring suburb outside of Chicago. My husband and I paid off the house and will retire in less than five years. We have one child in college who will be finished next year. The problem is that our town has a poor reputation which is reflected in the property value. The house is worth less than $200,000. We're saving like crazy but I can't imagine where to go after being here over 22 years. My network of friends likewise have homes in the inner ring although not in my town. As a white woman I'm a racial minority now that my town has turned to majority Mexican and I am uncomfortable with the idea of retiring in place. Crime is a definite issue and I fear that one day it will be too dangerous to even take my dog for his daily walk. I have ONE good neighbor & friend on my street but she's older and may not remain in her home if her health deteriorates.

I'm really torn about what to do. This spring I'm replacing the roof but there are constant repairs to a property this old. Neither of us have any family except for our only child so my friends are very important. I have no idea what to do. Illinois is a fiscal mess and I don't want to make a bad financial mistake. I feel strongly that given the present economy it is not a time to sell or buy in the Chicago area. Every house that is in a decent community is at LEAST $100,000 more with taxes in the $7-8000 range. I don't pay anywhere near that now. I know that we have time as retirement won't be for a few years yet but this is troubling me.

Any thoughts will be greatly appreciated.
What is keeping you in the Chicago area? Dump that $200K home in a soon to be ghetto and buy property in a smaller community in Iowa or Nebraska. Here in Nebraska you can find many decent homes for less than $200K with low crime rates.
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Old 02-09-2016, 04:53 AM
 
Location: Arizona
5,943 posts, read 5,300,762 times
Reputation: 17897
The longer you wait the worse it will be.

What will you do when the next area you live in starts to go downhill? Say when you're 80?

There is a reason people are leaving Chicago.
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Old 02-09-2016, 05:32 AM
 
Location: Blue Ridge Mountains
1,827 posts, read 2,617,232 times
Reputation: 2887
Retirement imo is a time to enjoy new things, meet new people take classes, indulge in hobbies. From what you describe I think a move might be a wonderful idea. Hey, start looking online and explore ALL your options! Your old friends will always be your friends but (take it from me) making new friends too is great! It's like a second lease on life!!! Enjoy
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