Wrigley Field on a sunny Summer afternoon...
Inning after inning the northside nine put up goose egg after miserable goose egg. In days of old (going back an entire century) Cubs fans would have anticipated the worst. An "L" for loss would be lifted atop the center field score board and that would be that, a simple single pockmark in a season rife with the rough terrain of far too many pockmarks.
Turns out the gimme waited until the bottom of the 9th to show up. That's when Jim Edmonds poked a line drive homer to the basket in left to tie the score. Ah, the universe felt as if it was coming back to a charitable disposition. Except that in this instance charity wasn't given - it was taken. And the final collection waited until the 11th inning to bear its lovely toothy smile.
By the way, located at Sheffield and Clark, Wrigley Field is two and a half blocks from a transcendent bit of Chicago real estate listed by Tom McCarey of The Real Estate Lounge Chicago - 726 Addison is a luxury condo on the top floor of a fully rehabbed all brick building. With a flowing extra wide layout, this condo is perfect for any number of Chicago real estate buyers, including first-time buyers or buyers looking for a bit more space in a wonderful Lakeview location, or out of towners looking for an in-town residence.
Another simply gorgeous residence that single home seekers in the Chicago real estate market need to know about is 1858 Race.
We cleared the 5.30 threshold Saturday night and somehow we figured we were ahead of the game.
In such haste had we left our Edgewater abode that we didn't even have the restaurant's exact address. Fortunately the Blackberry was able to sift through our misspelling and pointed us to Smoque near Grace and Pulaski in Chicago's Old Irving neighborhood.
So we punched the gas and cruised south to Diversey and Western to check out Fat Willy's in Logan Square.
With more seats than Smoque we were hopeful that Fat Willy's would be able to accommodate us. Unfortunately when we rolled up there were even more people milling about the outside of this joint waiting for tables that were some 40-60 minutes away from being available.
But come to think about it a Saturday night meal is meant to be more than satisfactory. I don't expect a marching band to high step by with each chewed morsel or every sip of a milk shake to catapult me into remembrances of pony rides as a child.
Here's the thing - despite proclamations regarding the demise of the market, the market has not met its demise. I repeat, the market has not met its demise.
In the neighborhood alluded to by the questioner activity has not capriciously declined. In fact, depending on what you are looking, for it is among the steadiest of Chicago's residential neighborhoods. In fact, the neighborhoods where I transact with my buying and selling clients most often on Chicago's north and northwest sides the market is doing just fine. These areas include the Gold Coast, Old Town, Lincoln Park, Lakeview, Wrigleyville, Roscoe Village, Uptown, Andersonville, Edgewater, Lincoln Square, Bucktown, East Village, Wicker Park and North Center.
To substantiate my belief are the facts of the market. See for yourself by clicking here to see a comprehensive neighborhood-by-neighborhood report done by my brokerage, Chicago's @properties.
I think I understand where the Trulia questioner is coming from - over and over the drum beat of the sour real estate market is sounded in media outlets. But whereas the Tribune or Time Magazine are reporting of specific locations, what is going on in Miami or Vegas IS NOT what is going on in Chicago. I wouldn't say the Chicago market is robust. But I also think it's entirely incorrect to paint our market with the same paintbrush that is coating the canvas of tanked markets like Miami, Vegas or elsewhere.
If nothing else I hope the comprehensive report I have provided here serves to offset some of the misperceptions and misconceptions of the current market.
By the end of the process we, like Lucas, will find our feet steadily below us as we continue moving forward.
Moses tooled up to an East Village coffee shop earlier today on his new sleek silver Vespa.
It had been a while since I had seen the old guy, but I'm never surprised by what he does or how he does it. Today being a slight slice of Spring on what this year has been an ever-elongating wintry landscape he opted to go, as he referred to it, as "topless." So there he was in front of the Mercury coffee shop on Chicago Avenue just east of Ashland beaming like a goofy sophomore who was taking the prom queen to the dance.
We in Chicago tend to get a bit short of breath with each whisper of spring and mi amigoMoses, possibly as a testament to his youthful spirit, is no different as he showed off his new ultra-efficient two-wheeler before temperatures headed south again. You see though April is a slight stone's throw from where we stand there's still snow on the ground on the north side of my Edgewater home and we can see our breath when we exhale.
"Wow," I said and simultaneously wondered to myself whether Moses, a Chicago real estate pro like myself, would go to showings on the bike. No sooner had I mused this than he broke out his technological toolbox and I knew that this toga donning nutsicle didn't need the shell of a car or or the trappings of a truck to sell real estate.
From the newest Blackberry (with 10 email capacity and "tethering" ability to enable full wireless internet performance in addition to serving as a mobile phone), Bluetooth (for handsfree conversing), digital camera, an unabiding knowledge of the market and an undeniable "can do" attitude, Moses cut quite the 21st Century figure on the Chicago real estate landscape. Had I not known him so well or been so severely self-confident myself I might have been intimidated.
Instead I was impressed.
So we sat down to a mid-sized latte to talk the Chicago real estate market and what's going on with buyers, sellers, and fence sitters. Then the conversation took a turn.
That's when his phone nibbled the air with its gentle timbling.
Trying not to eavesdrop but straining to hear what I could I detected a muffled tone seeping past Moses' Bluetooth that an offer had been sent via pdf. Having been the recipient of several and various offers of late I simply hoped that the paper on which the offer had been written had not been used in vain.
Moses, ever the picture of cool conducted himself as if the caller was right there in front of him, nodding his head and squinting his eyes when needed. He purred his voice back to the caller that he would get back to him if the offer was sufficient.
Having hung up the call he winked at me over the hood of his 17 inch HP lap top. "Give me a second so I might discern if my friend and I sip from the same cup of tea."
Moments after firing up this generation's version of the teletype machine I witnessed a momentary flaring of temper as my good friend lifted his arms skyward as if to ask for divine intervention to offset what his eyes beheld.
No sooner than it appeared had the anger dissipated and he regained his game face. He nodded at me and chuckled, "It appears that the caller's tea cup is dangling in a different plane of reality."
Not being all-too-versed in Heidegger I allowed the silence between us to exist until he wished to puncture it.
And so each of us quietly returned to our delicious caffeinated beverages until he allowed that the offer orbited at 85% of asking price.
He went on to say that the roughly 85% offer was made on a listing price that he, his client, and the overall East Village market deemed to be a fair value price.
He didn't seemed insulted. Nor did he appear perturbed. Instead, if I was to characterize his demeanor, it would be that he was stoically fatigued.
Now I don't mean to say that Moses seemed ready to take a John McCain-type middle of the day nap - but as he spider-mirrored his finger tips together he chewed out the words that he couldn't wait for good sense and reason to reappear in the Chicago real estate market.
"What's next?," I asked him.
"It's up to my client - but in all likelihood we'll meet their salaciousness with silence. That or a take it or leave it number well beyond their starting point."
We sat again in silence, possibly the same silence that would serve as his client's response to this exquisitely low offer, and I wondered what was behind the buyer's starting point.
A few more minutes passed, the level of caffeine lowered while our degrees of personal caffeination increased when the phone rang again. This time it was my 10 email capable wireless internet tethering Blackberry that I had patched into my own laptop.
"Hi, Tom McCarey," I crooned into the phone. It was an agent I didn't know wanting to schedule a showing of one of my condo listings at the last minute. Knowing that my clients were out of town and that they kept the place ready to show at a moment's notice I told her I would meet her in front of the property.
I wanted to grill her - how long has your client been looking, how many places have you seen, how many places have you seen today, what's the timeline, the motivation, is your client thinking there's a "deal" or is your client reasonable.
Sure, it could be the same thing Moses and I had spent the last half hour mulling over. But then again, you never know who you might meet.
By the way, Sunday's opens include:
856 N Paulina from 11a-1p (East Village condo) and 2214 W Cullom from 2p-4p (Lincoln Square new construction single family home).
Half a dozen of one, six of the other.
That might be the subtitle for the merging together of half of a box of a dozen frozen fish sticks found by an Ohio woman last week.
But instead of tossing the x-shaped trio on the frying pan, Victoria Landis tossed them on ebay where their Easter week appearance and Calvary Hill resemblance garnered a winning bid of just shy of $79.
When I first heard the report on Chicago's Newsradio 780 I thought to myself that how we place value on things is nearly mysterious.
Somebody somewhere some time Saturday received a styrofoam box chock full of dry ice surrounding three pairs of frozen fish sticks that very possibly reminds them of the holiest day of the Christian calendar. And to get it they plunked down $78.77 at a time when consumers are spending less and less in grocery stores and big box stores, department stores and retail stores.
I thought of the fish sticks again Saturday as I showed a new East Village condo listing to a young man and his father. More and more lately idle chit chat during showings has been replaced by what seems to be a gnawing sense of entitlement by prospective buyers as they ask one of two questions -
On Saturday the buyer's dad went a step further when he replaced "motivated" with "desperate."
"Desperation," I replied, "doesn't accurately describe this client or any of my clients."
One of the glorious misperceptions of the current real estate market is the sentiment by buyers that sellers not only will take any offer presented but that they will be obsequiously grateful to receive it. The underpinnings of this sentiment smack a bit too much like the philosophy of the Marquis de Sade for my tastes.
The reality of the current market (as I see it from the listing side) mixes the following factors -
Not to unfairly saddle Saturday's dad as guilty of making an intemperate remark - there are desperate souls trying to sell their homes. But the common traits of these unfortunate folks include that they perhaps bought too high, that their adjustable rate adjusted (and multiplied their monthly payment), perhaps they took out a home equity line and now their home is not worth as much (leaving them to make an inflated monthly payment), perhaps they have lost work as the Bush economic plan continues to bear fruit.
And while a front page Sunday article in the New York Times recounted how people are taking bartering into the realm of big box stores I paid my full tab at Charlie's Ale House on Clark Street in Andersonville Saturday afternoon and for a couple of cigars later in the day at Up Down Tobacco on Wells Street in Old Town and for Easter brunch with my family on Michigan Avenue in the Gold Coast.
But I digress. Sure it's no secret that there is desperation on the listing side. But across the board my resale clients - whether in Lakeview, the Ukrainian Village, the East Village, West Town, or Wrigleyville - are selling their current homes simply to enable them to move toward their next home purchase.
In each instance we listed the home after establishing its fair market value and recognizing that we could expect increased marketing time.
I guess what it boils down to is the fact that each of my clients would like to sell but none of them NEEDS to sell. Conversely, I suspect that each of the showings I have conducted at each of my listings has presented prospective buyers who would like to buy but perhaps DO NOT NEED to buy.
What I remember from Econ 101 is that this then is the market. All we need now is for reason to prevail between the two sides. If the past is any indication, we have grounds for optimism.
After all a woman in Ohio just sold three frozen pairs of fish sticks for nearly $80. You don't even want to know how that is per square foot.
Chicago real estate professional Thomas McCarey and his team at The Real Estate Lounge Chicago provide outstanding services to buyers and sellers of real estate in Chicago.
Going online is a smart way to start your search for real estate in Chicago. But as useful as the online search is, it is limited.
For instance, information tends to be out-dated. And sometimes descriptions of properties are simply inaccurate.
Because for most of us the sale or purchase of real estate is among our most significant financial activities it is important that this activity is not left to chance. As you get ready to sell and/or buy your next home, it is critical that you be able to turn to a realtor who you can trust.
Tom McCarey is that Realtor. I am one of the 160+ elite Chicago Realtors that Century 21 Sussex & Reilly employs in four Chicago locations. Since January of 2002, Century 21 Sussex & Reilly has grown into the number one Century 21 real estate brokerage company in the Midwest.
Here's why.
Ask my past clients and they will tell you that I am among the top realtors in Chicago because I work harder, know the market better, and I listen to them - allowing me to more aggressively and intelligently advocate for their interests.
When you are ready to buy or sell a property in Chicago, I would love to hear from you.
I specialize in the new construction and resale single families and condos and multi-unit buildings with an emphasis in Chicago's north and northwest sides. My clients often select the following Chicago neighborhoods:
When you are ready to make a move, contact me directly at 773.848.9241. And feel free to refer me to your family and friends when they are looking in Chicago.
We had searched for a home for over two years and had worked off and on with several brokers. None of them were able to come close to meeting our needs.
And then we met Tom. He was the only one willing to go the extra mile to find us the perfect place.
His patience, dedication and service went above and beyond the call of duty. Not only did we gain a beautiful house in a wonderful neighborhood, we also gained a lifelong friend.
When my husband and I decided to buy our first home, we contacted Tom for help. We were interested in several neighborhoods in the city, we liked several different styles of home, and we had a lot of flexibility in budget. While we were excited by the possibilities, it was very hard for us to narrow our focus and we became overwhelmed. Tom stuck with us and went above and beyond the call of duty to help us narrow our search.
Thanks to Tom, we were the first on the scene when new properties hit the market. Once there, Tom used his excellent eye for detail and knowledge of construction and design to provide counsel, many times providing more insight into properties than the selling agent!
Through all of our searching and indecisiveness, Tom was patient and steadfast until he found the perfect home for us. Because the property was new construction, the contract process was complex. Tom was able to guide us through this process and was a fantastic advocate for us. He is a skilful negotiator and his detail orientation is invaluable during the closing process.
I can’t imagine how we would have survived the experience without Tom - he is quite simply the best realtor in the city.
When my husband and I were checking out Chicago neighborhoods we were not even sure we were going to buy and we certainly were not going to use a realtor as this was neither of our first purchases. Then we met Tom McCarey at an open house. We ended up speaking to him for some time and he listened to us. We were impressed with his knowledge of the market and the area. We told him we had found a house that we would like to see but were having problems getting in touch with the developer.
Tom aggressively pursued the situation, which was important since another couple was also interested in the house.Tom negotiated the contract like a pro and thought of items to include in the rider that we did not. Tom batted for us the entire way through the process and ensured the developer did what he promised.
When it came time to sell our home, I turned to Tom McCarey. My discussions with him prior to signing a listing agreement assured me that he knew the market-place and knew what it would take to sell our property quickly. We had another property under contract and had to sell our home at top dollar fast.
He priced it right, made himself available for all showing requests and sold it in days.
And, while I was working 24/7, he took care of all the details to ensure a smooth transaction and provide us with a stress-free experience. Tom took a personal interest in making sure we got the best possible deal - going above and beyond the call of duty to ensure that we had a rewarding experience. I highly recommend using him as your realtor.
I met Tom at an open house nearly a year before I purchased my home. He made an impression, so when I was ready to come back into the city from the north suburbs, I called him.
We talked about what I wanted in a house, what I wanted in a neighborhood, and what I wanted to spend. Tom was the best at providing me with timely information and in arranging showings. He also made sure to not only answer my questions but to show me properties that helped me make my decision.
Ultimately I decided on a new construction single family. Even after the contract was in place Tom's involvement continued, ensuring my satisfaction and a smooth closing. I couldn't be happier. I love my new home.
Approximately two years ago, my husband and I began our search to purchase a condo in Lakeview. We were already renting in the area and wanted to remain in the neighborhood that we had grown to love. Luckily, we met Tom who took the time to understand what we were looking for in a home and was undaunted by the challenge of finding us the perfect place within the very tight radius that we had defined as our ideal location.
Immediately, we were impressed by Tom's professionalism and knowledge of the properties and their amenities; he had had extensive experience with both vintage and new construction and was able to provide information about the properties and neighborhood that we had not considered.After looking at numerous properties - including negotiating contracts on two properties that we terminated due to inspection issues - Tom located the condo that we had been searching for and it was only two blocks from where we were living. He recommended an inspector and attorney who were both personable and professional to help us close the deal.
Tom was with us for every step of the process - we could not have done it without him. We are glad that we had the opportunity to meet him and would highly recommend his services and experience to anyone interested in looking for a home.
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