Edgebrook Bob

Spring 2011

2011-05-10T11:28:00.000-07:00

Edgebrook is in full spring mode. Kids are counting the days til Summer Break and parents are counting down the days til they're back in school. Trees are finally blooming and it's actually over 80 degrees as I type this. I've been watching the Edgebrook market all season long and believe there are some great values out there. Out in Edgebrook Towers (Pratt & Central) there are couple of homes that are pending at good asking prices. I'm waiting to see what they close at but I'm anticipating near the $480-490K mark. Both homes had beautiful upgrades and were well maintained. I'll keep you posted.

As we move forward into the summer market I will be circulating my mid year newsletter and I hope to post some statistics on how we're doing out here.

Sorry for the time span between posts. I will keep you posted as our market develops. If you have any neighborhood information you'd like to share please don't hesitate to email me.

Edgebrook Elementary Addition

2011-01-13T13:49:00.000-08:00

Last night I attended the Edgebrook Elementary School Local School Council meeting. The plans for the new (and much needed) addition to Edgebrook Elementary were outlined and discussed. The new addition will add 35,500 sq. ft. through 9 Classrooms, 1 Science Lab and Kitchen & Dining Facility. Edgebrook Elementary will also receive a brand new play lot (approx. 3,500 sq. ft.) and landscaping throughout. The building will have a partial green and reflective roof.

The project is scheduled to start around March with a site survey. Construction should begin by June. Delivery date is for the new school year 2012.

I've attached the link for you to view the presentation that was presented last night.

Edgebrook School Addition

One item that was highlighted by a representative from CPS was this addition is to alleviate the overcrowding that the current school experiences. CPS has not changed the school boundary and no additional students are being brought in.

Edgebrook continues to be one of the best Chicago neighborhoods to live.

Edgebrook Analysis

2011-01-05T19:21:00.000-08:00

As we begin 2011, I thought it would be wise to conduct a quick analysis of the Edgebrook community over the last 3 years. I used a polygon search through the MLS and attempted to confine the boundaries to the Edgebrook School district.

I found that in 2008 there were a total of 8 sales with an average sales price of $488,750. None of those properties were short sales or foreclosures (distressed).

In 2009 there were a total of 29 sales in the same boundaries. The average sales price was $422,668. Seven of the 29 properties sold were distressed.

In 2010, there were a total of 30 sales and only 1 was a distressed property. The average sales price was $429,135.

The market has dropped about 12% from 2008 to 2010. It is plain to see the impact of distressed properties in our area. We can also see a small uptick from 2009 to 2010.

To put everything in perspective, I conducted a search of the entire 8012 area using statistics maintained by the Chicago Association of Realtors. I found that the average sales price in 2008 was $486,031. In 2009 the average sales price was $400,476. This represented an 18% decline. The good news is that in 2010 (based on MLS data) the average sales price went up to $412,301 which is a modest 3% increase.

Edgebrook is still a very viable community to live and raise a family. The Edgebrook Elementary School is one of the best in the city and all the amenities you need are close by. Give me a call if you are considering buying or selling. I know I can help.

Please allow me to introduce myself...

2010-11-20T16:10:00.000-08:00

Welcome to the first post of EdgebrookBob!

My goal with this blog is to provide the communities of Edgebrook, Sauganash and Wildwood with pertinent information about our real estate market (8012) and the real estate market in general. I have been a Realtor with Century 21 McMullen since 2006. I am an Accredited Distressed Property Representative and am currently seeking a designation in Foreclosure, Short Sales and Bank Owned Properties.

My family and I moved to Edgebrook in 2003 and we now have two daugthers who attend Edgebrook Elementary. I was recently appointed to the Edgebrook School Local School Council and look forward to serving our community in that capacity. Although I don't speak fluent "CPS" I hope to be brought up to speed quickly.

My focus as a Realtor has been to represent my client's interests to the best of my abilities by providing as much information as necessary for them to make the best decisions possible in their real estate transaction. I also work hand in hand with my clients to discuss their needs and help them develop a sound strategy to implement thier real estate plan.

I truly enjoy the business of real estate, even during some of the most challenging times in our history. One thing about today's real estate market, no matter where you live, is that each person's situation is different. If you are working with a Realtor you should know where your competition is priced and why. Some buyers are waiting for short sales and foreclosures and you would be surprised how many are in your neighborhood.

Most recently, I worked with a client for two years and we watched the market decline unfold. We finally negotiated a bank owned single family home in Lincoln Park for $1.115M. During this process, we both learned about where prices were "back in the day" and where they are today.

My next post will include an anlysis of the Edgebrook community. What the trends have been over the last 3 years and present inventory.

Please feel free to contact me at any time at http://www.bobvanna.com/ to discuss your personal situation. I know that I can help you fulfill your real estate goals.