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Old 07-19-2019, 03:59 PM
 
6 posts, read 4,498 times
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Hello,

I was wondering if anyone could shed some light onto why so many of the newer homes in the Olympia Club development are coming up for sale. They are primarily located on Hermes and Delphi. My wife and I are considering the area.

Thanks!
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Old 07-19-2019, 05:20 PM
 
Location: Illinois
3,208 posts, read 3,550,099 times
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Quote:
Originally Posted by Earnedit View Post
Hello,

I was wondering if anyone could shed some light onto why so many of the newer homes in the Olympia Club development are coming up for sale. They are primarily located on Hermes and Delphi. My wife and I are considering the area.

Thanks!
I am not the most familiar with the south suburbs, but I still hope I can shed some light. First, high inventory in newer developments isn't abnormal. I'd also add that inventory in Chicagoland is elevated. It's not unique to the south suburbs. Second, many of the south suburbs are perceived to be in decline. Olympia Fields is among those.
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Old 07-19-2019, 06:45 PM
 
Location: Chicagoland
93 posts, read 126,180 times
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Quote:
Originally Posted by Earnedit View Post
Hello,

I was wondering if anyone could shed some light onto why so many of the newer homes in the Olympia Club development are coming up for sale. They are primarily located on Hermes and Delphi. My wife and I are considering the area.

Thanks!
I took a look at the homes for sale in Olympia Club, and there seems to be only 3. That doesn't seem terribly unusual to me, especially as it is one of the most prestigious neighborhoods in Olympia Fields. As the above poster said, there is an excess of inventory across Chicagoland, too.

There are many reasons people may be moving (i.e. downsizing, relocation, etc), and not all of them are necessarily a red flag! I don't think there's much to look into in this situation.
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Old 07-19-2019, 06:56 PM
 
6 posts, read 4,498 times
Reputation: 10
I understand inventory. But these homes are all occupied and have been built within the last 10 years. Ive been watching this area for some time now and have never seen this many homes available. Especially, since it is a smaller development. Just hoping to reach out to someone who actually lives in the development.
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Old 07-19-2019, 07:00 PM
 
Location: Chicagoland
93 posts, read 126,180 times
Reputation: 122
Quote:
Originally Posted by Earnedit View Post
I understand inventory. But these homes are all occupied and have been built within the last 10 years. Ive been watching this area for some time now and have never seen this many homes available. Especially, since it is a smaller development. Just hoping to reach out to someone who actually lives in the development.
You might consider joining Nextdoor or looking for a Facebook group for Olympia Club residents. You might have more luck through one of those avenues than here.
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Old 07-21-2019, 01:46 PM
 
Location: Illinois
3,208 posts, read 3,550,099 times
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Originally Posted by Earnedit View Post
I understand inventory. But these homes are all occupied and have been built within the last 10 years.
How do you know that they are occupied?
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Old 07-21-2019, 02:12 PM
 
6 posts, read 4,498 times
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We've been to several open houses and talked to the realtors presenting the properties.
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Old 07-22-2019, 09:45 AM
 
57 posts, read 63,794 times
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Perhaps they have high property taxes and low school ratings. Sounds similar to U46 zoned area of Hoffman Estates.
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Old 07-22-2019, 09:52 AM
 
57 posts, read 63,794 times
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I think this tells the story. $21k taxes on a $415k house zoned into low-rated schools.


https://www.redfin.com/IL/Olympia-Fi.../home/26792103
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Old 07-22-2019, 09:59 AM
 
6 posts, read 4,498 times
Reputation: 10
Thanks for the information. Interesting analysis.
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