Oak Lawn IL Real Estate News

I’ve been very busy showing Oak Lawn homes for sale and selling real estate in the southwest suburbs.  So I haven’t had time to cook lately and have been dining out.  I do have to lament that sometimes I wish Oak Lawn had the selection of restaurants that Orland Park does.  Sometimes we have to think hard to find a restaurant close by so we don’t have to travel and it’s not a big deal just to get a bite that’s a step above fast food.

So the other day my husband and I were playing the “what do you feel like eating” game and I told my husband it was his turn to choose.  He said how about Fox’s Restaurant, or Fox’s Pub, as we usually call it.  I didn’t expect that because I cannot remember the last time I’ve eaten in Fox’s Pub in Oak Lawn.  We’re probably going back 15-20 years!

I was never crazy about their pizza like others were and that’s what was always ordered when we ate there many years ago.  So I’ve never considered going there again, especially since in my mind I’m picturing an old, outdated restaurant.

But I thought, let’s give it a try.  And I was pleasantly surprised at the fact that it was nice and comfortable and was crowded without a wait.  I ordered fried shrimp and it was OK with a light batter and I was excited since they offered baked beans as a side.  I liked those better than the butterflied fried shrimp.  My husband ordered a special that was Steak Diane.  He finished it so it must have been good, although it didn’t look like a huge portion.  He wasn’t complaining.

I had no intention of ordering dessert but there were mini cake slices and there was a chocolate banana flavor and although it wasn’t on the dessert dish the waitress brought, she checked in the back and found it.  It was very rich although there wasn’t much banana flavor.  Although my husband took a bite, eating that smallish piece put me over the top and I felt uncomfortably full.

As we were nearing the end of our dinner a musician started playing which was another nice touch.  The dinner was OK, the place seemed clean and inviting and the service was great.  The bill was close to what I was complaining about with Francesca’s so I guess I don’t dine out enough.  Seems like if you’re going to get a beer (my husband) and a dessert or two it costs over $50.00 nowadays at a mid-priced restaurant for a couple.  I just don’t know how some people can afford to take families out to eat these days.

But Fox’s is definitely a place I’ll visit again and it’s been a long established Oak Lawn eatery, maybe one of the longest lasting (not sure when Petey’s Bungalow opened their doors).

I have dined at Francesca’s a couple of times in Oak Park and downtown Chicago.  I might even have dined at their Palos Park location.  I remember enjoying the experience every time.  And that is why I was chomping at the bit for Francesca’s to open their restaurant in Oak Lawn, IL.

My husband actually dined there before I did.  His sister took him out to dinner for his birthday and I was out of town.  He said it was OK and that it was their first week and they were just starting out and getting organized.  I’m not sure what that meant but he was ready to go back a second time with me.

We went on a Sunday for dinner and we rarely get an appetizer, unless you want to consider my husband’s beer.  I always get iced tea, no lemon.  Our server was pleasant and attentive.

I wasn’t sure what I wanted when we arrived and I couldn’t find much that enticed me, much to my dismay.  I’m not a typical Italian restaurant lover (I like sweet sauces and don’t always find them) but I did remember enjoying whatever I had ordered at other Francesca’s.  But nothing was hitting me on the menu.

So I ordered a 4 cheese pizza, even though I felt mascarpone and blue cheese were a couple of odd choices on a pizza.  It was very rich but good, but I’m not sure I’d order it again.  I still can’t quite applaud blue cheese on a pizza but will be having the leftovers for lunch today.

My husband ordered one of two tilapia dishes offered and loved it.  He ordered a wine with his dinner.  His tilapia was with shrimp on the top and a nice looking sauce.  He offered to share but it just didn’t mix with my pizza so I declined.  I did stick my finger in the sauce and it was a lemony flavor.  The tilapia looked like it was perfectly cooked and even though I’m not a fish lover (although I can eat tilapia) I was almost tempted to take a bite as it looked delicious.  He did pull out a couple of bones from his mouth and that turned me off as that is one reason I’m not keen on fish.

We normally do not order dessert (I’m always dieting) but they had gelato (spelled gelatti or gelati on their dessert menu which is the plural for gelato per Wikipedia) so I ordered the banana fudge version.  My husband had mango sorbet (sorbetti on the menu).  Mine was wonderful, my husband’s mango sorbet had a flowery taste to it.  I was hoping for one scoop but the order was two scoops and unfortunatley, I finished them both.

All in all, it was a good dinner until we got the bill.  Including my husband’s beer and wine, our two dinners and two desserts, tax and tip came out to around $72.00+.  I thought that was a bit steep for a quick Sunday dinner in Oak Lawn.

If we go again we’d share the dessert but that’s only knocking $6.00 off the tab.  Hubby will have to have his beer at home - lol!  I’m not sure I’m going to run back to Francesca’s on 95th anytime soon.

I’m glad Oak Lawn is attracting restaurants like Francesca’s, even if I felt it was a high tab for our little village.  Time will tell if I’m in the minority on this and I hope Francesca’s prospers.  It keeps Oak Lawn on the cutting edge and helps make it a prosperous and forward moving village.

If you are thinking of buying an Oak Lawn home give me a call at 708-536-8200 or fill out the Automated Home Finder’s Form to get listings sent directly to your e-mail.

I’ve shown a lot of short sales and foreclosures lately and many would be surprised to see how many are in Oak Lawn.  We want to believe these things are happening someplace else, not in our own backyard.  Some are great deals and get snatched up quickly and hopefully cleaned and fixed up which is good for our neighborhood.

But I’ve shown a few homes lately that are in horrible shape.  One home appears to be a nice brick and sided split level home.  But step inside and you’ll gag from the thick smell of mold.  You see, something happened to cause standing water in the family room and you can see the mold growing on the drywall and wood!  I’ve shown it twice, to an unsuspecting buyer and then to an “investor” who backed off.  He told me he could fix anything.  But that scared him away!

Today I showed what appeared to be a decent brick ranch (although the garage door was messed up) and you could tell the prior residents were upset and threw stuff against the walls and I don’t even want to know what the stuff was on the floor.  This was a short sale - it hadn’t even been foreclosed yet.

Although at first glance it seemed to be cosmetic and cleaning, it looked so abused my buyer didn’t want any part of it.  Unfortunately, he missed out on a great deal in the past and is having a difficult time trying to find one like that.  It was an Oak Lawn home that sold for the low $100’s and didn’t need much work (and even had an updated kitchen).

The best thing we saw today happened to be a little ranch home in Chicago Ridge but he wasn’t thrilled with it.  There was another Oak Lawn home for sale that looked like another decent brick split level but it stated that there was severe fire damage.  I didn’t even bother setting an appointment on that one.

If you’re thinking of buying a home in Oak Lawn give Judy Orr a call at 708-536-8200 or fill out the Automated Home Finder Form to get listings sent directly to your e-mail from the Oak Lawn MLS.

How many Oak Lawn homes have sold in the first quarter of the year and how does it compare to the same time last year?  The data below will show you how Oak Lawn real estate is faring during this recession.

Amount of Oak Lawn Homes sold:
2009 = 38     2008= 57 - this shows a downward trend of -33.3% - that’s a big number meaning the number of ready, willing and able buyers has dwindled
Average sale prices:
2009 = $192,704     2008 = $236,129 - showing a decline of -18.4%

Viewing the above Oak Lawn homes sales figures, you can see what buyers are buying, and those are the less expensive properties.  These include short sales and foreclosures, which in turn brings values down.  These are year-to-date figures from January 1st, 2009 through March 31, 2009.

Now is a great time to buy while prices and interest rates are still low.  Give me a call at 708-536-8200 or contact me.  Feel free to search the Oak Lawn MLS to get your list ready of homes you’d like to view.

Wow!  I have seen some great foreclosure deals in Oak Lawn recently.  The last two “steals” were Oak Lawn condominiums for sale that were valued around $125,000 and sold for around $80,000.

What kind of shape were they in?

You might wonder what kind of condition these units were in.  And I have to say, not bad.  Each one just needed cleaning and cosmetic work like cleaning or replacing carpet, painting and cosmetic updating.  The updating was something that didn’t have to be done, just cleaning and you could have moved in.

The listing agents didn’t do the sellers any favors

These were both reo properties, handled by small brokerages that have an “in” to sell these kinds of foreclosures.  However, I question if the listing agent actually goes to each listing they take.  One unit did not specify on the MLS print-out that it had an in-unit laundry room.  The other unit stated there was no garage, but there was.

Those were huge errors and many interested buyers would not have viewed these properties because of these ommissions.  That means less bids coming in, although each unit did have multiple offers.  But maybe there would have been even more and higher offers if the listings were put in the MLS correctly.

Since these were big mistakes, I truly wonder if they just don’t send an employee out to do a quick measure and to take one exterior photo and put a lockbox on.  Of course, it could be a harried agent passing on bad notes to a secretary that puts the listing in and can only go by what is given.

Either way, these errors can be great for a buyer.  There are less offers on the table and the property is priced low to begin with because I guess the mortgage holder doesn’t know what they have, either.

If you’d like to see if there are any deals in your price range, search the Oak Lawn MLS or fill out the Automated Home Finder Form where you can receive listings sent directly to your e-mail.  Call Judy Orr if you’d like to view any properties at 708-536-8200.

This large and lovely 2-story home sits on a triple Oak Lawn corner lot with a very large backyard (something most corner lots do not offer).  Drive by and you’ll notice the covered front porch you can relax on in the lazy days of summer.

As you step inside you’ll be delighted by the large foyer with beautiful newer plank hardwood floors.  To the right is the spacious formal living room and dining room combination.  The living room boasts a bow window.

The eat-in kitchen has newer Corian countertops, tile backsplash and ceramic floors.  All appliances will remain but the clothes dryer will be switched out.  The tile floors extend into a hallway and the nicely done powder room.

Wait until you see the sunken family room with it’s wood covered vaulted ceiling and the soaring brick fireplace (woodburning with a gas starter).  What an inviting and comfortable room.  There is a unique shelf to display your collectibles on.  Sliding glass doors lead you to the backyard.

Upstairs features a large landing area with hardwood floors that is big enough for a piece of display furniture.  The hall bathroom has newer wood laminate floors.  All 3 bedrooms are nice sized, including the master suite with it’s private full bath.

The basement offers a large L-shaped recreation room with newer carpeting.  You can use it as a combination family room  plus a dining area, office, game room, exercise area, toy room for the kids or whatever you need.  There is also a spacious and separate laundry room with additional work space.

As mentioned, the backyard is big with a storage shed for easy access to yard tools and pool equipment, an above ground pool with a newer wood deck, a concrete patio, a small pond and plenty of room for outdoor fun and gardening.

To round it up, this beautiful family home offers 3 bedrooms, 2 1/2 bathrooms, a 2 car garage, formal living and dining rooms, eat-in kitchen, main floor family room plus a full finished basement, all on a large lot.  Priced at $225,000.

Call Judy Orr at 708-536-8200 to see this beauty or use the contact form.

The #1 website for Oak Lawn homes for sale would like to post something a bit different today.  Real estate and other financial troubles in today’s recession should take a backseat to what has happened to a vibrant young woman who is a long-time Oak Lawn, IL resident named Becky Clifford.  As a result of an accident, Becky has suffered spinal injuries and is now a paraplegic under 24 hour care.

She attended Kolmar Elementary School and Richards High School.  She worked at the Oak Lawn Hilton as a catering manager.  Now she faces a very different life and future.

A benefit for Becky will be held at Bourbon Street this Saturday, April 21st, from 3:00 p.m. - 8:00 p.m.  It is located at 3359 West 115th Street, Merrionette Park, Illinois 60803.  Price for admission is $30.00 per person.  There will be raffle prizes and a silent auction.  Any donations are appreciated.

You don’t have to attend the benefit to donate.  The website, Giving Back 2 Becky, has information for making monetary donations or to order benefit tickets in advance.

I held a benefit at Bourbon Street for a friend who was suffering from an aggressive form of breast cancer (she passed away at the age of 41, leaving behind two children).  She attended the benefit and the money collected was only part of it.  She was so humbled to see how many people cared.  I think that was just as important as the funds collected.

Please go to the link above and donate or plan to attend this Saturday’s benefit.

Sometimes we think the talk about foreclosures and short sales are happening in someone else’s backyard, but that isn’t true.  Currently, there are 32 single family short sales in Oak Lawn ranging in price from $96,900 for a 2 bedroom, 1 bath ranch style home up to $480,000 for a newer looking brick 2-story with a 3 car garage.*

There are 19 short sale Oak Lawn condominiums and townhomes available ranging in price from $59,900 up to $320,000.*

What is a short sale?

In quick terms, a short sale is when the mortgage holder agrees to allow the property to be sold for less than what is owed on the mortgage.  Short sales should be called “long sales” though, as they can take months to get an answer.  It can get very frustrating waiting and waiting if you’ve put a bid in on a short sale.

If there is more than one mortgage holder involved it can take even longer and might end up going into foreclosure before an agreement can be made by one of the mortgage holders.  Sometimes it’s hard for us on the outside to understand why the banks would rather own the property and possibly lose more in the long run than to try to unload it for a decent price.

I’ve seen homes deteriorate badly while sitting in short sale status only to end up in foreclosure.  By that time, the bank won’t get anywhere near what they could have received if they had accepted a short sale offer.  It leaves many agents and buyers wondering what the banks are thinking.  I think it’s just a bunch of red tape that needs to be streamlined and brought to reality.

Why does a short sale take so long?

If you put in one of the first bids, then the bank might not have had contact with the listing agent yet.  Sounds backwards, but this is how many banks work.  The seller has to start the ball rolling with the bank and the agent normally doesn’t come into the picture until an offer is on paper.  That first offer usually starts communication between the mortgage holder and the listing agent.

I’ve been told that the people working in these mortgage companies/banks could work 24/7 and still not get to the bottom of the short sale files on their desks.  They are understaffed and overwhelmed with their workloads.  They are fielding phone calls and trying to work the individual files.  The paperwork per file alone is daunting.

So if all the listing agents call them weekly trying to get answers, they are taking these workers away from their files.  Normally, once they do have an answer they will call the listing agent.  But as agents, we simply cannot take this as a given.  We need to call to make sure our file isn’t lost or has been set aside for one detail that hasn’t been done correctly.

I have experience with short sales

I’ve been on the seller’s side and buyer’s side on short sales.  The seller’s side requires much more work trying to follow up and make sure each offer is packaged and sent properly.  As a buyer’s agent, it is mostly a waiting game.  Sure, I try to call just to follow-up and see if I can get any kind of information, but I realize that usually the listing agent just doesn’t have any news yet, or they would call me.  Of course, one time I called and got the “I was just going to call you….” spiel.  So as buyer’s agents we still have to make those phone calls just in case.

If you’ve come into the short sale after communication has already been established and other offers have been presented then you will get an answer more quickly.  But there’s really no timing factor to determine this.  In today’s market, a short sale might sit on market for months before getting a first offer.

Our MLS is making changes so we can know if an offer has been “accepted” yet which also lets us know that communication has occurred on the other end.  You can then write up an offer which would be considered a back-up offer.  Many short sale offers never make it to closing because of inspection issues or the fact that the buyer cannot get their financing after all.  With the current job losses, that has affected many closings not occurring.

If you’ve got the patience necessary to try going for a short sale, give me a call at 708-536-8200 or contact me.  You could get a good deal, but you do need to understand the process.

* Please note, these figures are gathered by doing a specific search looking for short sales.  The results might not be 100% accurate as some agents do not enter the listings properly and they won’t come up using the search criteria I used.  This is just to give a close figure of the amount of currently active short sales in Oak Lawn, IL.

Here we are again.  Comparing how real estate sales stacked up comparing 2007 figures to 2008.  I’m actually surprised as I thought the decreases would be much worse.  Attached properties took a real dive of over 38% as far as units sold.  Otherwise, things weren’t as bad as many other towns.  Here they are:

Detached single family Oak Lawn homes for sale

# of Houses Sold |  % Change  |  Average Sale Price  |  % Change
2008     |   2007    |                     |     2008      |  2007

268            303           -11.6%        $237,064   $268,994       -11.9%

Attached single family Oak Lawn homes for sale

Attached single family is the combination of Oak Lawn condos, townhomes, duplexes, etc.
# of Houses Sold |  % Change  |  Average Sale Price  |  % Change
2008     |   2007    |                     |    2008      |   2007

175            286           -38.8%         $142,005   $142,449        -0.3%

View all statistics going as far back as 2005 to see how Oak Lawn real estate has fared over the years by clicking on Sales Statistics for Oak Lawn Real Estate

If you’d like to see Oak Lawn homes for sale right now, search the Oak Lawn MLS

As mentioned in a previous post, I am the editor at the online news source called Topix for Oak Lawn, Illinois.  Sometimes I’ll use my own blog posts, but most of the time I search for the latest news via other online sources.  I use Google Alerts for this and Topix has it own “news wire.”

The Roboblogger Doesn’t Get It

If I miss a day then Topix has what is called its “roboblogger” to search out the daily news.  Unfortunately, most of the news it brings are articles about people ending up at Christ Advocate Hospital in Oak Lawn.  The victims were hurt elsewhere, but because they ended up in our Oak Lawn hospital, roboblogger figures it’s news about Oak Lawn.  I end up deleting those as “not on topic.”  I try to find actual Oak Lawn news.

I Have To Be Sure Articles Pertain to Oak Lawn IL

A lot of the news topics I get from Google Alerts are from an area called Oak Lawn in Dallas.  It is a wealthy area and sounds like a lot of fun with restaurants, bars and clubs.  It is also the hub for the Dallas gay community and many of the articles I peruse reflect this.

Then there is Oaklawn Park in Hot Springs, Arkansas, popular for its horse races and gaming facilities.  I have to weed through a lot of news articles pertaining to this location.

Google Seems to Favor Oak Lawn Illinois

If you do a Google search for the words Oak Lawn, you get mostly Oak Lawn IL websites.  Of course, there might be something geographic about the searches, since I’m searching from Illinois.  Maybe if I were located in Dallas the results might be different.  I’m not sure how Google works as far as where the search originates from.

If you’re looking for Oak Lawn homes for sale give Judy Orr a call at 708-536-8200 or use the Contact Form.  Take advantage of these low interest rates and low prices!

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