Analysis Paralysis - Need Help!!! (Chicago, Downers Grove: homes, buyers, school districts)

[damba]

Originally Posted by JJski

Buyers start crunching numbers - living close (walkable) to station starts being worth the 50k+++ premium cost when yoy figure how much extra time you get with family. The 30min-1h/day time saved adds up...

Location, Location, Location --- #MinutesMatter...

Absolutely true! Public transportation options make my life a whole lot nicer, that's for sure.

The problem is banging out the extra 50K for most folks making 'the jump' to a SFH with associated property taxes. Americans usually just don't have enough savings, as you know already. I hate to see folks start too close to their top end, mortgage wise ;(.

[damba]

Originally Posted by AmongStrangers

They are forced to. Jobs leaving suburbs even faster than they leave IL. In 10 years suburban office parks will be wastelands.

This is not the only reason though. Biggest problem is that everybody refinanced to 2.5% and nobody wants to sell, even seniors. Prices are not really rising, there are not many people looking for houses. There are even less houses for sale though.

Not yet maybe, but eventually the seniors sell. Around the corner in my neighborhood I can see four or five senior couples that I bet will be selling. Timing certainly can stink though when you really would like to find a decent home in a specific area...

[RJA29]

Originally Posted by AmongStrangers

I am looking currently and have same requirements for the house. There is nothing in the walking distance to the station in any of mentioned towns that is under $425 and not completely destroyed. I would say even Arlington Heights is tough in this price range, Park Ridge is tougher. Mt. Prospect can work but houses that are not very overpriced are gone in hours. Maybe Wheaton\Glen Ellyn can work with about 20 minutes walk. There is no inventory anywhere, everybody wants to be close to the station. Under 500k is very competitive, under 450k is insane. Houses in driving distance to Metra sit on market for months without much interest.

At least topic starter can look at houses during the week, so might catch something, good options don't last till weekend currently.

Huh? Nothing in walking distance under 425K?

4937 Woodward Ave, Downers Grove, IL 60515 | MLS #09380358 | Zillow Yes, it's small, but it meets OPs requirements.

2055 Prairie Ave, Downers Grove, IL 60515 | MLS #09399424 | Zillow Likewise, right around 425K.

918 Chicago Ave, Downers Grove, IL 60515 | MLS #09371490 | Zillow Also walking distance to train, under 400K.

These aren't perfect homes, but they are each in very good school districts and within 10 minutes (or less) to an express train to Union Station.

[RJA29]

Originally Posted by AmongStrangers

They are forced to. Jobs leaving suburbs even faster than they leave IL. In 10 years suburban office parks will be wastelands.

This is not the only reason though. Biggest problem is that everybody refinanced to 2.5% and nobody wants to sell, even seniors. Prices are not really rising, there are not many people looking for houses. There are even less houses for sale though.

If people are continually moving the the suburbs, why does it hold that there is some maxim suburban office parks will become a 'wasteland'? There are just too many factors at play to know this for certain -- https://www.nytimes.com/2017/01/23/u...oung.html?_r=0

[JONOV]

Originally Posted by knitgirl

She thought "Arlington Heights wasn't "upscale" enough for her, so I doubt she'd consider Mt. P. Honestly after reading that comment, she sounded a bit like the people she was criticizing in her comments about Park Ridge.

Which makes her perceptions all the more ridiculous. I have family that lives in all of the above mentioned and they are all largely the same. The High Schools are even ranked stacked up against each other.

[Hudson0901]

Originally Posted by RJA29

Huh? Nothing in walking distance under 425K?

4937 Woodward Ave, Downers Grove, IL 60515 | MLS #09380358 | Zillow Yes, it's small, but it meets OPs requirements.

2055 Prairie Ave, Downers Grove, IL 60515 | MLS #09399424 | Zillow Likewise, right around 425K.

918 Chicago Ave, Downers Grove, IL 60515 | MLS #09371490 | Zillow Also walking distance to train, under 400K.

These aren't perfect homes, but they are each in very good school districts and within 10 minutes (or less) to an express train to Union Station.

Spot on. All of these homes fit the bill!

[AmongStrangers]

Great if it works for you. Just make sure you research elementary school for the second option. I personally passed on a different house one block away because of it, but I know people have different opinions about Puffer

[JJski]

here is a good one too, Great Schools and this quadrant feels just like LG and also has the historic charm... also salt creek trail around corner, right between train stations (Stone or La Grange) either prob 10-15 min walk and downtown La Grange is also 10-15 minute walk... look at home values all around it and especially when you cross into LG --- https://www.redfin.com/IL/La-Grange-.../home/13296815

[RJA29]

Originally Posted by AmongStrangers

Great if it works for you. Just make sure you research elementary school for the second option. I personally passed on a different house one block away because of it, but I know people have different opinions about Puffer

Originally Posted by JJski

here is a good one too --- https://www.redfin.com/IL/La-Grange-.../home/13296815

I've heard mostly good things about Puffer - there are indeed a few more less-affluent students, but the middle school and high school are the same as the other DG North schools. If you look at the breakout comparison for Puffer, higher income students perform as well as at other area schools.

JJ- nice house in LaGrange, and only a half mile to the train?! Is that street busy b/c it's just across from the elementary school? I guess crossing Ogden daily wouldn't be ideal, but it's a lot quieter than when it goes further West from the city.

[Hudson0901]

Originally Posted by JJski

here is a good one too, Great Schools and this quadrant feels just like LG and also has the historic charm... also salt creek trail around corner, right between train stations (Stone or La Grange) either prob 10-15 min walk and downtown La Grange is 10-15 minute walk... look at home values all around it and especially when you cross into LG --- https://www.redfin.com/IL/La-Grange-.../home/13296815

Thanks! Really like this house. It's higher than what we've budgeted, but it's also been on the market for awhile...