September Deal Estate News: Home Sales and Trends
The unidentified buyers of this 16-room house paid 18 percent less than the residence was worth in its most recent appraisal. According to the Cook County Recorder of Deeds, June Massarella listed the house in September 2011, asking $1.15 million (Ed Hall of Coldwell Banker, who handled the sale, says that the house had been appraised at $1.1 million). After an April price cut to $929,000, it sold for $905,000.
Deal of the Month: The Fix Is In
The owners of this two-bedroom duplex condo, priced at $399,900, listed it at 20 percent below the combined $499,500 they spent to buy it (in 2006) and upgrade it. Karl Vogel of @Properties is handling the sale.
That’s the average discount homebuyers can expect on the list price when they purchase a residence in metro Chicago, according to a report released by Zillow in July. That makes Chicago the top buyers’ market among the country’s 50 largest metro areas. Overall, the Midwest shone in the survey: Milwaukee took the second spot, Cleveland was third, and Cincinnati came in eighth. Locally, Downers Grove, Lockport, Buffalo Grove, and Palatine scored highest for good housing deals.
Photography: Dennis Rodkin