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04-16-2016, 07:53 AM | #23 |
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Being close to Chicago means ready access to hookers and blow. Still have rural space to dump the bodies. However, still no ketchup chips. #fail
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04-16-2016, 08:21 AM | #24 |
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It's 100% location, location, location. I'm about 1/2 hour west of Chicago and that house in my area would be $1.2MM to $1.5MM with taxes north of $20k/yr.
Our house is less than 1/3rd the size and we pay close to $9k/year in property taxes. It's brutal. |
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04-16-2016, 09:00 AM | #25 |
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I'd bet a big driver of those Illinois property tax bills is Illinois and local municipality public pension obligations. It is a major crisis in the making - local governments can't tax enough to cover basic services and the cost of pensions across the country. So taxes will increase and basic services will decrease until the shit hits the fan.
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04-16-2016, 11:11 AM | #26 | |
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04-16-2016, 11:24 AM | #27 | |
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But as I said in my first post, this state has more problems than I can count. One reason this house may have lost value is the current threat hanging over us that Eastern Illinois University (the local college and main economic engine for this town) might close if funding isn't released soon. That would devastate housing values here as hundreds of homes would hit the market at once. The person selling this house may have decided to cut losses now instead of waiting for the big crash later.
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04-16-2016, 01:12 PM | #28 |
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Bathroom looks a little too Tony Montana-ish for my taste.
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04-17-2016, 09:08 AM | #30 | |
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Homes here are really cheap here...of course, salaries match that.
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04-17-2016, 11:24 AM | #31 |
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I live in a land of repetition and track homes, so a house like that doesn't really exist close to me until you go behind the pearly gates of Coto De Caza or Shady Canyon.
Or go a bit west and live in Newport Coast with C5 https://www.redfin.com/CA/Newport-Be...7/home/4747634 Coto De Caza https://www.redfin.com/CA/Trabuco-Ca...9/home/5056232 Irvine's Shady Canyon https://www.redfin.com/CA/Irvine/54-...3/home/5929775 Nellie Gail in Laguna Hills (Horse properties) https://www.redfin.com/CA/Laguna-Hil...3/home/4874404 San Clemente https://www.redfin.com/CA/San-Clemen...2/home/4995273 History buffs Buy this homestead of past president Richard Nixon. https://www.redfin.com/CA/San-Clemen...2/home/3280718 Dana Point https://www.redfin.com/CA/Dana-Point...9/home/7204308 Most houses in my neighborhood are around $350 per sq ft. I don't really live in a highly sought after area, therefore, the price per sq. ft reflects that as most places are $450+ that are "name brand neighborhoods" Comparatively, our taxes are often low at just over 1%. Some of the areas with higher taxes, mello roos, and HOAs are looking at about 1.5-1.8% of the home's value. That really tends to put things into perspective when you nearly have a second mortgage to pay each year even if your house is paid off. On the other side of the coastal range is Corona that has "more affordable" houses. Here is one for under a million and 5,000+ https://www.redfin.com/CA/Corona/817...3/home/8166116 Ok, that's enough... I need to stop before I get even more carried away. Feels like I should be a real estate agent or something. |
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