Chicago Suburbs Real Estate (Naperville, Evanston: refinancing, buying a home, buying)

[jvr789]

Originally Posted by MovingForward59

Do you know how many people in the US are wealthy enough to afford Winnetka?
Hint its less than 5% of the population. So lets focus on areas where the majority of people can reasonably afford to get into instead of fringe wealthy burbs.

You were the one that said top IN schools are the same as top IL schools, not me, and that is what I was refuting. Also, the school funding in IN has changed in the last 5 or so years so when you look at national scores I do wonder if we will see an impact down the road as kids who experienced funding cuts in elementary school make there way into High School. Education is a life-long process and outcomes are impacted all along the way.

[BRU67]

Originally Posted by MovingForward59

I love how you assume if we just write a blank check to schools then academic performance will improve.
In reality all the funding in the world doesn’t automatically mean better grades & more academic achievement.
The salaries might be better in Illinois now. Lets see how that is in 3-5 years with the pension collapse, covid budget crisis & downgrade to junk credit in Illinois.

“If the president and his team are foolish enough to think they can unilaterally cut off our funding because we are not bending to his will, as if he is an emperor and not a president who is responsible to the people, once again we will see him in court and we will win,” Lightfoot said. “When we win, we will make him pay for what his foolishness has brought to the city of Chicago.”

https://www.chicagotribune.com/polit...ajy-story.html

IMO, the Mayor really needs to cool it on this kind of stuff. I mean, I know it sounds great to most Chicagoans, though some may be a little murky on how Trump's "foolishness" is responsible for the 485 killed and 2,366 wounded in the City this year through August, or the destruction of our main business district. And Biden is winning in the polls. If I were a betting man, I'd still put my money on him, though not as confidently as 4 weeks ago.

But really, what's the point of saying all of this? I mean, if he cuts off the money, then fine, sue, but why the confrontational rhetoric? We're going to need a bailout, bottom line. If Biden wins, we get it, no questions asked. But if the polls don't hold, then she's going to be asking the Trump Administration for cash in a year or less, so comments like this put all of us at risk. So I don't get it (Shrug Icon).

[MovingForward59]

Originally Posted by BRU67

“If the president and his team are foolish enough to think they can unilaterally cut off our funding because we are not bending to his will, as if he is an emperor and not a president who is responsible to the people, once again we will see him in court and we will win,” Lightfoot said. “When we win, we will make him pay for what his foolishness has brought to the city of Chicago.”

https://www.chicagotribune.com/polit...ajy-story.html

IMO, the Mayor really needs to cool it on this kind of stuff. I mean, I know it sounds great to most Chicagoans, though some may be a little murky on how Trump's "foolishness" is responsible for the 485 killed and 2,366 wounded in the City this year through August, or the destruction of our main business district. And Biden is winning in the polls. If I were a betting man, I'd still put my money on him, though not as confidently as 4 weeks ago.

But really, what's the point of saying all of this? I mean, if he cuts off the money, then fine, sue, but why the confrontational rhetoric? We're going to need a bailout, bottom line. If Biden wins, we get it, no questions asked. But if the polls don't hold, then she's going to be asking the Trump Administration for cash in a year or less, so comments like this put all of us at risk. So I don't get it (Shrug Icon).

The confortational rhetoric is coming because Illinois & a handful of other states have had decades to turn things around. Not months, or years but decades. Lack of political will is not going to fly anymore in this country when we have structural issues that need fixed now.

[Justabystander]

According to www.homesbymarco.com, an excellant sounce of information for real estate statistics and trends, some markets year over year in August were just on fire.

Town August - 2019 sfh sales 2020 sfh sales %i increase 2019 median price sfh 2020 med price sfh %

Glencoe 18 33 83.3%, $ 767,000 $1,260,000 64.3%
Western Springs 16 26 62.5% $ 607,000 $702,500 15.6%
Naperville 175 232 32.6% $442,000 $ 464,194 4.9%
LaGrange 13 33 153.8% $435,000 $510,000 17.2%
Elmhurst 49 86 75.5% $480,000 $588,000 22.5%
Hinsdale 25 44 76% $843,000 $1,050,000 24.6%
Winnetka 29 46 53.6% $ 1,200,00 $1,305,000 8.2%

Just a sampling. Low inventory, ideal market to sell. I don't have the time to post more, but some are pretty incredible.

[Logic87]

Originally Posted by Justabystander

According to www.homesbymarco.com, an excellant sounce of information for real estate statistics and trends, some markets year over year in August were just on fire.

Town August - 2019 sfh sales 2020 sfh sales %i increase 2019 median price sfh 2020 med price sfh %

Glencoe 18 33 83.3%, $ 767,000 $1,260,000 64.3%
Western Springs 16 26 62.5% $ 607,000 $702,500 15.6%
Naperville 175 232 32.6% $442,000 $ 464,194 4.9%
LaGrange 13 33 153.8% $435,000 $510,000 17.2%
Elmhurst 49 86 75.5% $480,000 $588,000 22.5%
Hinsdale 25 44 76% $843,000 $1,050,000 24.6%
Winnetka 29 46 53.6% $ 1,200,00 $1,305,000 8.2%

Just a sampling. Low inventory, ideal market to sell. I don't have the time to post more, but some are pretty incredible.

Where in the website did you find the data?

[Justabystander]

Originally Posted by Logic87

Where in the website did you find the data?

If you google Homes by Marco "name your city" such as Homes by Marco Glenview, and then click on the underlined Glenview in the upper left hand corner, it will give you all the stats for that city. You can keep choosing a different city in the bar above for the stats of that new city. Hope that is clear.

[Logic87]

Originally Posted by Justabystander

If you google Homes by Marco "name your city" such as Homes by Marco Glenview, and then click on the underlined Glenview in the upper left hand corner, it will give you all the stats for that city. You can keep choosing a different city in the bar above for the stats of that new city. Hope that is clear.

Found it!

That’s a cool feature, thanks for sharing.

[My Kind Of Town]

Originally Posted by Justabystander

According to www.homesbymarco.com, an excellant sounce of information for real estate statistics and trends, some markets year over year in August were just on fire.

Town August - 2019 sfh sales 2020 sfh sales %i increase 2019 median price sfh 2020 med price sfh %

Glencoe 18 33 83.3%, $ 767,000 $1,260,000 64.3%
Western Springs 16 26 62.5% $ 607,000 $702,500 15.6%
Naperville 175 232 32.6% $442,000 $ 464,194 4.9%
LaGrange 13 33 153.8% $435,000 $510,000 17.2%
Elmhurst 49 86 75.5% $480,000 $588,000 22.5%
Hinsdale 25 44 76% $843,000 $1,050,000 24.6%
Winnetka 29 46 53.6% $ 1,200,00 $1,305,000 8.2%

Just a sampling. Low inventory, ideal market to sell. I don't have the time to post more, but some are pretty incredible.

I thought real estate values only went down in the Chicago suburbs??? You know, with everyone moving out of Illinois, property taxes, etc.

[Justabystander]

Originally Posted by My Kind Of Town

I thought real estate values only went down in the Chicago suburbs??? You know, with everyone moving out of Illinois, property taxes, etc.

By reading some of the posters here, yea it is mostly doom and gloom. But statistics, and not guessing or speculating, are the ultimate truth. Since I know that you lived in Hinsdale, take a drive through the Southeast part of town, where so many have bought $1.5 -3 M homes, torn them down, and are now building $3-7M houses in their place. There are construction fences everywhere, and these families who are building have complete faith in the Chicago market and are willing to put smart money on it.

[Hiruko]

Originally Posted by Justabystander

By reading some of the posters here, yea it is mostly doom and gloom. But statistics, and not guessing or speculating, are the ultimate truth. Since I know that you lived in Hinsdale, take a drive through the Southeast part of town, where so many have bought $1.5 -3 M homes, torn them down, and are now building $3-7M houses in their place. There are construction fences everywhere, and these families who are building have complete faith in the Chicago market and are willing to put smart money on it.

Why you think that Southeast Hinsdale and multimillion-dollar homes are representative of the suburban Chicago market is beyond me. Wealthy people build homes all the time. Look at how many estate homes were built in the late '20s and '30s. Look at how many homes continued to be constructed during the most recent financial crisis. You get to a certain price point and they're unaffected by economic turmoil. These people do not see their homes as their primary investment. The U.S. housing market has broadly been doing well this year, but Hinsdale and the other communities you mentioned are far from representative of suburban Chicago in any way.