Oak Lawn IL Real Estate News

The 1st half of 2010 stats are in for Oak Lawn real estate sales:

Single Family Oak Lawn Homes

It’s all positive news, but I wish it would reflect the sale of my own Oak Lawn home.  I have it priced now to where I purchased it in 2003, and we’ve put thousands of dollars into it with updates such as two new bathrooms, new windows, new flooring and much more.

This just goes to show that data only tells us so much.  My own home should be worth more based on these upward trending numbers, yet I have to continue reducing my price.  There is still too much inventory vs. buyers and although the stats are positive, they are comparing 2009 (when I did not have my house on the market) to 2010.

It’s still good news that Oak Lawn real estate is seeing a positive turn in amount of sales and prices.

Oak Lawn Condos and Townhomes (Attached Properties)

Although prices have dropped for Oak Lawn condos, I think many sellers will be happy that there was a whopping increase of 59.3% in total number of sales comparing the 1st half of last year to this one.  In this market, anything positive is good.

If you’re interested in buying or selling an Oak Lawn property, give Judy Orr a call at 708-536-8200 or use the Contact Form.

As I walked to Potbelly last night I could hear music wafting through the breeze and realized that the Sunday concert was in session.  It sounded like Motown music and I walked straight down 95th St. on the way to the restaurant.

On the way back I walked through the concert area and although I took a couple of pictures with my phone, you could barely see the gazebo where the band was playing.  Unfortunately, my husband’s band, The New Invaders, was rained out a couple Sunday’s ago.  They got three songs in and the rain started coming down, and it was one of the bad ones.

Because my husband is in a band, it is rare that we can go out and view other bands (at least not together).  One evening last year we were able to catch a show and it was really nice.  Sitting on our lawn chairs with our neighbors and other Oak Lawn residents and guests (and their dogs), buying food and drink from local vendors and listening to music created a very nice atmosphere.  I love when it gets dark and you can see the white lights strung out on the trees.

My husband’s band plays many park and village concerts, but Oak Lawn truly is one of my favorites.

If you’d be interested in living in our wonderful village, search for Oak Lawn homes using our MLS search.

Last week the extension for closing was not passed for the Home Buyer Tax Credit.  It was thrown in with a bunch of other things and was turned down.  However, it was then put forth as a separate bill and finally passed.

This bill affected around 1,800 buyers who would have lost the credit if they didn’t close their transaction by June 30th.  They now have until September 30th, 2010, to close and still qualify for the credit of $8,000 for first-time buyers or $6,500 for other buyers.

There are mixed emotions in the real estate world about this credit and extension.  Many feel that these credits were a waste of taxpayer money and that the government should let the real estate industry heal itself without intervention.  They feel these buyers would have purchased a home anyway and the credit just spurred some of them to get off the fence sooner than later.

With interest rates hitting 4.5%, many of those buyers would have purchased now and would have had more buying power with such low rates.  Some feel it just created a false start and actually used up all of the available buyers that would have been in the market at some point in time this year and last.

In fact, most of us in the industry are feeling a lull since the tax credit expired April 30th.  That is when an accepted contract had to be finalized.  The new extension is just a closing extension, but the contracts had to have been accepted on April 30th or prior.

Many of us felt a surge towards the end of April when some buyers were frantically trying to find a house to get the credit.  I was working with a young woman who could only afford handyman specials.  I knew she was over her head with these homes and I told her not to buy something just so she could get an $8,000 credit.  I told her she’d put more than that into these homes, and some of them would not have passed an FHA appraisal without required work done.  I think she gave up entirely as I didn’t hear from her since the credit expired.

And it’s buyers like her that would have purchased something that they might not be able to handle down the road.  There was one Oak Lawn home we saw that had some potential.  I could tell she wasn’t loving it but it was the best one in her price range.  It could very well have sold FHA with few, if any, required repairs.  But the house needed updating and I felt she would have regretted purchasing it.  She obviously didn’t like it much since she wasn’t interested in writing an offer, and we were down to the deadline.

Many in the industry felt that the extension should have been left alone.  Agents and others cited the fact that so many buyers waited until the end of April to find a house and that it wasn’t guaranteed that they could close by June 30th with ever-tightening mortgage standards.

Others showed their displeasure at buyers who made offers on short sales knowing that it can take months just to get an approval and even more time to close after that.  But there were definitely some buyers that took that chance.  I had a buyer who did although she knew there was a chance we wouldn’t be able to close in time for the credit.  She took the risk and won, as she was able to close before the original June 30th deadline.

Others feel that these credits and extensions are giving some people the feeling of entitlement.  They should get something in return for making a purchase, and if this becomes a mindset there will be people that won’t buy since they’re waiting for the next hand-out to come along.  And this all gets paid for by us taxpayers, and our children and grandchildren in the future.

With our current interest rates I simply can’t see a better time to buy.  These low rates can make up much more than $8,000 over the life of a mortgage.  Prices are still dropping so there is a combination of low prices and low rates.  Forget a credit, take advantage of this current Buyer’s Market.  If you continue sitting on the fence it is very likely that you will be paying more down the road.

If you’re interested in Oak Lawn homes (or any other southwest suburbs), give Judy Orr a call at 708-536-8200 or fill out the Home Finder Form and get listings sent directly to your e-mail.

My husband and I were sad to see that Baja Sol closed its doors this year.  So we were excited to see another restaurant opened up called Baja California and stopped by to check it out.  As we stepped inside on a Sunday afternoon we noticed we were the only patrons.

Everything is the same inside but as we looked at the menu and spoke to the friendly girl working there, we were told chips were not free like they were with the previous restaurant.  Oh well, as I’m constantly dieting that kept me away from the chips and salsa.

Food ordering and pick-up were the same as Baja Sol.  However, the food wasn’t.  My husband ordered a burrito enchilada style.  It looked really large and good.  However, he said the sauce was cold, like it came out of a refrigerator and ladled over a warm burrito.  Despite the cold sauce, he said it was very flavorful.

On the other hand, I ordered a bean burrito (or just a burrito without meat), but I asked if there was cheese in it.  She told me there was.  As you can see from the pics below my big burrito came naked and I could not find any cheese inside, but plenty of white rice.  And my burrito was not flavorful.

In fact, I normally eagerly eat all of my leftover food from restaurants.  I gave my leftover burrito to my daughter since I had no desire to eat it again.  I told myself all I had to do was sprinkle some cheese over it and microwave it and it would be better, but I just wasn’t interested in it.

Not only were we not happy campers, but I thought the prices were high for what we got.  I can’t imagine ever returning which is too bad.  We made a few return trips to Baja Sol and they couldn’t stay open.  Although I hate to see any business fail in Oak Lawn, I don’t see Baja California doing very well.

I haven’t met Carolyn Capalbo but hope I do sometime.  She is an experienced REALTOR in Prince William County and neighboring Northern Virginia areas.

Network Marketing - Helping a Fellow Agent

I have written a few articles over the years trying to get relocation referrals for some of my favorite out-of-area agents.  But that’s not specifically why I’m writing about Carolyn Capalbo.  Of course, if you read this and are looking for William County homes, please give Carolyn Capalbo a call and tell her Judy Orr sent you.

Not many agents can make an actual living out of relocation referrals unless they pay to work with a relocation company or are wildly popular in large real estate portal and networking sites.  More importantly, it really helps if they work and live in a popular destination area, retirement community or an all-around very desirable area.

You would think I would make a good referral income living and working in the southwest Chicago suburbs.  But I think most referrals end up in near west suburbs and the north side.

However, I have received relocation buyers from my website and top placement for some general terms.  Most listing referrals come from other agents that find me online from my websites or my involvement in real estate networking sites.

I Also Get Local Business From My Websites - and My Name

Getting a good referral is icing on the cake.  But agents like Carolyn Capalbo and myself that are creating an Internet presence are trying to get local buyers and sellers to find us.  Many times they find us doing an area search on search engines like Google, using the name of a town or county they’re interested in.

They also search us by our name for different reasons.  Sometimes they are past clients that hit the Internet first.  Sometimes they lived near one of our listings and remembered our name on a neighbor’s sign but nothing else.  Sometimes they worked with another agent but got our card and are ready to work with someone new.

And this is where Carolyn Capalbo needs help.  Unless an agent has a name like John Smith, they should be able to rank well on search engines by their name alone.  It is one of the first number one positions I held on Google (and there are a couple of Judy Orr’s out there that have an Internet presence, but I believe I’m the only REALTOR).  One of the other Judy Orr’s I share 1st page Google positions with is a doll maker.  I forget what the other one does.

But Carolyn Capalbo shares her name with the mother of a “less than savory” woman involved in a scandal with a former New York governor that eventually resigned when his behavior was exposed.  Now if anyone searches for Carolyn’s name on Google or other search engines, the news stories are flooding the first page, along with photos of Carolyn the REALTOR and photos of the scantily clad daughter of the other Carolyn Capalbo.

What’s the Big Deal?

Maybe this will bring the real estate agent Carolyn Capalbo increased website hits and business.  But most of us realize that the increased web traffic won’t be from interested buyers and sellers, but curious scandal junkies that want more information.  Carolyn has already stated that her own clients have asked her if that is her daughter in the middle of this political mess.  And how can she measure potential clients that won’t bother checking facts and will stay away from her because of this, thinking she was involved?

So I am one of many agents writing blog posts to help Carolyn Capalbo regain her good name in the search engines.  By having enough of us write these posts, we can push the bad publicity of her other namesake down on the search engine pages.  It is very unfortunate that a sleazy part of history has tarnished the name and valuable search engine position of a good real estate agent.

We forget the power of current events and how they affect the Internet.  Most of us are not affected in the way Carolyn Capalbo has been, and I can only hope that if something like this happened to me, others would help me out in the same way.  This isn’t the first time real estate agents have banded together to help a fellow agent in trouble on the Internet and it makes me feel proud to be able to help again.

Be sure to check out Carolyn Capalbo for your Northern Virginia real estate needs.

7340 W. 74th St., Bridgeview - See the new low price on this raised ranch with a basement on a huge 60′X300′ lot!  New photos have been added so check it out!

9418 S. 54th Ct., Oak Lawn - There is a new price on this 4 bedroom, 2 bath Oak Lawn home with a family room, spacious deck and a 2-story 2 1/2 car garage.

If you’re interested in either of these listings, or any listings in the southwest suburbs, you can set an appointment straight from the property website or call Judy Orr at 708-536-8200.

Take advantage of the lowering interest rates and decreasing home prices.

Detached Single Family Bridgeview Homes Sold

# of Houses Sold | % Change | Average Sale Price | % Change
2009 |   2008        |                   |     2009     |   2008  |
55         37                48.6%        $188,602   $223,419      -15.6%

Attached Bridgeview Condos and Townhomes Sold

Attached single family is the combination of Bridgeview condos, townhomes, duplexes, etc.

# of Properties Sold | % Change | Average Sale Price | % Change
2009 |      2008          |                   |     2009 |    2008     |
22            17                     29.4%      $161,350 $175,052     -7.8%

Like most neighboring towns, Bridgeview real estate has been seeing decreasing prices for quite some time.  However, the positive spin is that Bridgeview is showing an increase in the amount of sales of both single family Bridgeview homes and condos that have sold and closed.

To see Bridgeview property sales statistics from 2005-2009, click the link.

How did Burbank real estate sales of 2009 compare to those of 2008?  Like most southwest suburbs, there was an increase in sales for single family Burbank homes sold, but decreases in prices and Burbank condos showed complete decreases.  This is the first time since at least 2005 that the average price for single family Burbank homes is under $200,000!

Detached Single Family Burbank Homes Sold

# of Houses Sold |  % Change  |  Average Sale Price  |  % Change
2009     |   2008    |                     |     2009      |  2008

193            132             46.2%        $182,342   $218,667      -16.6%

Attached Burbank Condos and Townhomes Sold

Attached single family is the combination of Burbank condos, townhomes, duplexes, etc.

# of Properties Sold |  % Change  |  Average Sale Price  |  % Change
2009     |   2008        |                     |    2009      |   2008

7                8                 -12.5%        $103,857   $132,638        -21.7%

To see Burbank property sales statistics from 2005-2009, click the link.

I just have to write about Nickobee’s Restaurant & Lounge in Chicago Ridge as I just finished leftover Shrimp DeJonghe and it was even better than when it was first served.  I also have a couple of stories about the restaurant we rarely go to even though it’s always good.  And there’s a reason we should dine there more often.

One summer day about 11 years ago I was on a date and we met up with a group of my friends to listen to a local band in the beer garden, or patio, although it was called Patsby’s at the time.  I had noticed a guy that I was introduced to not too long before and upon first introduction I had no interest in him whatsoever.  However, we kept ending up in group situations and he started growing on me.

He was sitting with a different group of people and I hadn’t expected him to be there.  For some reason I made it a point to pass him by, touch his shoulder (I never touch men) and say hello on the way to the washroom.  There was a spark.

I return to the table with my date and crazy friends and we had a great time.  My future husband made an effort to come to our table and say hi (he’s a social butterfly).  My friends didn’t know him.  He left before we did and he was on the parking lot side of the wrought iron fence and was grabbing it and jumping up and down like a monkey in the zoo.  My friend’s husband made a derogatory statement about him (after he left) and I jumped to his defense so vehemently that everyone looked at me funny, including my date.  Watching him acting like a monkey I thought to myself, “I’m going to ask that guy out.”  And I did later that week.  We got married 3 years later.

So we should eat there every Sweetest Day and/or Valentine’s Day, but we never have.  And I don’t know why.  The first time we actually ate at Nickobee’s was when it was located at 103rd & Harlem.  We used a coupon from an Entertainment Book.

And for some reason, that’s the only reason we usually go there.  However, the first time we went with our current coupon, my husband ordered one of the daily specials and we couldn’t use the coupon.  So we went back the other day and he places an order and once again, it was a daily special.  So that darn coupon is going to keep bringing us back and he’ll probably keep ordering a daily special.

No problem, we’ve had great food and service every time.  I’m not sure why it doesn’t come up every time we want to dine out since there’s really not a lot of restaurants close to our Oak Lawn home (the usuals are Prime Time, Oak Lawn Restaurant and TGI Friday’s).

Nicobee’s Restaurant and Lounge is located at 10301 Southwest Highway, Chicago Ridge, IL  60451  - Phone number is 708-423-7500.  The beer garden (or patio) is now open.  Prices are moderate to high for the area and the daily specials are a pretty good deal.

Photo courtesy of lilddude

Click the photo or the address link - 7340 W. 73rd St. - to see photos, a virtual tour and read a full description on this raised ranch on a huge lot with a newer 2 1/2 car garage.  All of the big money items have been recently redone such as the siding, furnace, central air, and more!  Check out the website that is all about this Bridgeview home and will give you school information, a map and WalkScore and more.