Chicago Real Estate Blog
The Chicago real estate market as seen by a local appraiser
Thursday, July 28, 2016
Single-family homes statistics for Glenwood, IL 60425
Real estate appraiser Michael Walsh recently completed a single family appraisal in Glenwood, IL 60425 and shares his market analysis in this video. Located approximately 29 miles South of the Chicago Loop the village of Glenwood has a population of approximately 9,000. Real estate prices have been increasing over the last three years, marketing times are considered average and there is currently an oversupply of inventory on the market.
Posted by Unknown at 10:06 AM 11 comments:
Sunday, July 24, 2016
What is External Obsolescence?
External obsolescence is defined as a loss in value caused by negative influences outside site. This video real estate appraiser Michael Walsh comes across a home with severe external obsolescence due to railroad tracks. There's an old saying in real estate at the three most important things are location, location, and location. In this video we have a nice customhouse that was built backing up to railroad tracks. A terrible location.
Posted by Unknown at 12:39 PM 2 comments:
Sunday, April 03, 2016
A slight decline in single-family home prices in Oak Park, IL 60302
Real estate appraiser Michael Walsh of Citywide Services recently performed the single-family appraisal in Oak Park, Illinois, 60302 and shares his market analysis in this video.
Median home prices increased 8.8% in the 12 months ending March 2015 and declined 0.4% in the 12 months ending March 2016. With this small decline median sales prices are being considered stable.
Overall the market is good with marketing times less than 90 days, level of inventory is in balance and there's a low number of distressed sales.
Posted by Unknown at 12:06 PM 14 comments:
Friday, February 12, 2016
Lots of distressed sales in Romeoville, IL 60446
In the last 12 months distressed sales, those that are bank owned or short sales accounted for approximately 40% of total sales in Romeoville, IL 60446. This is one of the statistics reported by real estate appraiser Michael Walsh in an analysis of single-family home sales discussed in this video
Posted by Unknown at 1:52 PM 1 comment:
Tuesday, February 09, 2016
Single-family home prices are increasing in Lockport, IL 60441
After remaining stable for two years the median sales price in Lockport Illinois increased 4.8% last year. This is one of the findings discussed by real estate appraiser Michael Walsh in this video about detached single-family home prices.
Posted by Unknown at 4:30 PM No comments:
Tuesday, February 02, 2016
After a big jump in 2014, prices on single-family homes in Lincoln Park slowed down last year
This video shows a look at the single-family housing market in the Lincoln Park neighborhood of Chicago. With median home prices of $1,600,000 Lincoln Park is one of Chicago most upscale neighborhood's . Real estate appraiser Michael Walsh recently completed a single-family appraisal and shares his market analysis in this video.
Posted by Unknown at 3:46 PM 1 comment:
Monday, January 11, 2016
The real estate market is looking good in Mount Prospect, IL 60056
Median sales prices have been increasing over the last three years. Marketing times are short and the level of inventory is in balance. There are a small number of distressed sales in this market place. These are the items reported on by real estate appraiser Michael Walsh in this video about detached single-family home prices in Mount Prospect Illinois
Posted by Unknown at 5:02 PM 5 comments:
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