So, how does a home buyer or real estate investor know where to find the best opportunities for property appreciation in Chicago?
Three recent articles offer some perspective and guidance.
1. Gary Lucid offered a great spin on DePaul University’s recent study of resident displacement caused by gentrification (“housing affordability pressure”). Can tracking the outflow of poorer residents due to gentrification predict areas likely to appreciate? Cool interactive maps too boot!
2. An unexpected (by me anyway) WTTW review of a Northwestern University study about Divvy bike rentals. It seems that locals in Humboldt Park and other neighborhoods negatively associate the big blue bikes with (unwanted) displacement-causing gentrification.
Whatever you think of Divvy bikes, this begs the question: are new Divvy station installations an indicator of up-and-coming areas?
3. Now that you know where to look, know that Fannie Mae and FreddieMac are both ready for the spring market with conventional 95-97% loan products branded as Home Ready and Home Possible, respectively. Check out Don DeBat’s summary of these new programs.
Our real estate law firm represents buyers and sellers of home and investment properties in all Chicago neighborhoods. We work with some great realtors and loan officers who can help you find real estate opportunities and financing options, too.
Learn more:
Chicago Gentrification Trends Flag Best Real Estate Returns
Chicago’s Divvy Divide: Convenient Bike-Share Program or Sign of Gentrification?
House hunters can utilize loan programs to buy with 3 to 5 percent down