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Andersonville a safe haven for some in real estate debacle

From Medill:
by Inyoung HwangMarch 12, 2009
In a recession that has seen massive job cuts and plummeting home values, realtors point to Andersonville as one Chicago neighborhood that has been a safe haven of sorts, where potential homebuyers appear to be more willing to take a chance on buying a home even before the overall market has clearly bottomed.

“It’s a very disparate marketplace here in Chicago right now,” said Tom McCarey, a real estate agent with @properties. “[Andersonville’s] kind of been impervious to the swings and fluctuations” in home prices, he added.
Pamela Ball, an Andersonville resident and real estate agent, said prices in the neighborhood are down 5 percent to 8 percent compared with a year ago.
Andersonville is technically located within Edgewater, which has seen a drop of 8.5 percent in home prices as of February last year, compared with Chicago as whole, which has seen a 10.2 percent drop, according to Zillow.com. Other North Side neighborhoods have been more distressed. Uptown, which borders to the south of Andersonville, has seen a 12.9 percent decrease in home prices, and Rogers Park, which is north of Edgewater, saw a 11.3 percent fall. Read the entire article here


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