Question Mark

I haven't personally seen any work being done on any of these buildings in several months. In the case of the trio of buildings on 65th place I haven't seen workers on the premesis since early 2008.

It goes without saying that the Living Green Lofts were never built. That's the picture of the huge vacant lot and the pile of wood that used to be the sign annoucing the development.

The question is can the 'hood (and the city for that matter) survive another round of broken promises and broken buildings?


This building's residents have been MIA. I suspected that this was going to be converted to condos but nothing has hapened to indicate which course the current owner will take.



Brand new development on 65th Place that sits empty. It's only a matter of time before squatters or a bad element take hold.



The sign for Living Green Lofts sits in pieces after the development was never built.



The vacant lot where the Living Green Lofts were supposed to be built.

The Block Is Hot

The fallout from the subprime crisis has been all over the news since last summer.

Faithful readers will remember how I wrote about my own personal drama in this forum with my own adjustable rate mortgage.

It would have been easier for me to get into a size ten pair of skinny jeans than to refi nance my mortgage last year.

I know that things are still bad.

I predict that the market won’t straighten out until late ’09 or early 2010.

Despite those grim predictions, I get a feeling that things are looking up for the old hoody hoo.

Realtor’s trying to get rid of excess inventory in this market shouldn’t come as a surprise.

But it seems like there’s a breath of fresh air in recent listings. And when I say breath of fresh air I mean new condo construction.

Not only are there newly built inventory on 65th place, Dorchester and Kimbark but methinks there may be a real estate turn around lurking amidst this downturn.

Obviously it’s not over until the units sells but as a nearly seven year resident of Woodlawn, the price points of the current condo inventory thrill me to pieces.

The new condos behind me are listing from the high 200’s.

For someone who bought her humble little cold water flat for considerably less, when the market does turn around ,those of us who saw Woodlawn’s potential and bought in early will reap the benefits.

And when I say reap I mean raking in the scads of cash when I finally choose to sell.

While I’m not a fan of our city’s Olympic efforts and I don’t think we’ll get the games---if we did, the real estate market for the south east side is going to blow off the map.

But for now it’s all just speculation.

I feel it coming though---change is afoot.

False Alarm

It seems that I jumped the gun.

No one in my building is putting their unit on the market.

My newest neighbor bought a lock box so her friends could access her keys while she was away on vacation.

Paranoid much? No wonder I couldn't find a lising on the real estate websites.

It has taken us so long to get everything on track, anything (read: a potential bootleg investor) that would derail our progress is going to cause concern.

Plus you wouldn't want someone to move into your association in October and put the place up by January of the next year. Baring a job transfer or a sudden engagement, you'd have to be some shitty ass neighbors for that to happen.

I can only imagine what our newest neighbor was thinking when the topic of the lockbox came up at the association meeting last night.

Maybe she should start writing a blog about living with a group of nutty Black people in a condo association on the south side of Chicago.

I'm sure it would be a hit.

New Development

Apparently someone in my building may be selling.

There's a realtor's lockbox on our gate but so far my sleuthing hasn't turned up who may be selling. I've talked to most of our owners and trolled the internet for a listing but have come up with nothing.

The rumor mill seems to think that our newest neighbor may have put her unit on the market. She just got here in October, I can't imagine that she'd put her place on the market so soon.

Wouldn't that be an interesting development.

The Closing

I have a neighbor who is attempting to sell her unit.

Unfortunately there is a bit of confusion concerning certain documents her buyer(s) need from the association for the closing to be scheduled.

Prior to my layoff I received a call from the buyer’s agent requesting all of the usual stuff---Decs & Bylaws, financial statements, a condo survey, paid assessment letter, which I personally delivered to the lender at Washington Mutual.

So imagine my surprise when I hear that a lawyer calls (for whom?) and gets quite agitated about the timeliness of the documentation provided by the association.

She further went on to state that she attempted calling another board member but they failed to get back to her.

At least on that point she’s correct.

Some people on the board aren’t the best with follow through. They like to paint themselves more as managers and idea people than workers---chiefs rather than Indians if you like that analogy; but if you ask me they’re just downright lazy.

But that’s another post for another day.

Nonetheless the lawyer was giving major attitude.

My neighbor who took the call was not happy about this interruption to her workday.

The irony is that she isn’t even on the board but still takes a very active role in the management of our home.

If I understood her rather pointed e-mail, neither she nor her treasurer husband will provide any more assistance regarding the sale of this unit.

While her reaction and decision serves as no surprise---mama has quite the temper---when I spoke with her a few days after the e-mail she did make a valid point.

Our neighbor has hardly ever come to board meetings. When she did, the meetings usually concerned rising assessments, our special assessment or renter rules.

A few years ago when the clarion call went out for maintenance help she was nowhere to be found. She may have contributed a few cleaning items but my memory is fuzzy on that point.

The kicker is that she’s some type of engineer (if memory serves me correctly) and never once spoke up to throw in her two cents about our porch project.
As we all know, you have no obligations other than to pay your assessments and show a begrudging respect for your neighbors when you live in an association.

But as most of us have learned, it never hurts to build up good will with the people you live around. It doesn’t mean you have to love them but pitching in to help out ever so often won’t hurt.

As an association it seems like we’ve been dealing with two different buyers and we’ve made every accommodation to comply with their requests for information.

Frankly speaking it seems like no one is coordinating the acquisition or dispersal of condo documents on the seller’s side.

She should have a copy of the Decs & Bylaws. If she knew she was selling she (or her property manager) should have asked in advance for the association financials.

I’ve sold a place before so I know the onus to make sure the gathering and distribution of these documents shouldn’t be on the association.

But this behavior by my soon to be former neighbor isn’t surprising.

When you’ve contributed nothing of yourself or your talents, don’t be surprised when people aren’t exactly falling all over themselves to help you.

Temperature Gauge

Much is happening in the hoody hoo right now.

It’s real estate-o-rama Woodlawn style.

A unit below me is getting ready to close next week. I can only imagine the (low) price that it’s selling for.

That sound you hear is my property value dropping.

And while I’m on that topic, a building on my block that I thought was a six flat is on the market as well.

Some dumb ass thought it was a good idea to take that beautiful building---which I suspect was built to house people for the Columbia Exposition---and put a bootleg wall up in the middle of the marble foyer and make it into two three flats.

Philistines. Why do these people even exist?

So the western three flat is on the market for $375K.

Note that it’s right next to the a condo “association” that my developer did, but four or five of the units went into foreclosure and have been on the market for almost two years.

Candidly speaking, if I had the money I’d buy a few units myself.

That all being said, there are signs of life that Woodlawn hasn’t given up the ghost real estate wise.

While the Living Green Lofts have yet to break ground, foundations have been poured for what appears to be two new condo developments on the southwest corner of Blackstone and 65th place.

And yes, that head you see peeking from the third floor of the back porches across the street is mine.

65th place and Dorchester seem to be the new building hot spots in my neck of the woods.

Now you can say if you build it they will come, but philosophy and reality are two different things.

I’m interested to see how quickly units will sell.

Moreover, I’ll click my heels if the units sell anywhere near the listing prices.

One word: Equity.

Four more words: I told you so.

I’ve chronicled the ups and downs of my humble existence for almost two years. Despite the drama my neighbors and I have gone through, you’ve never heard me say that Woodlawn wasn’t worth the struggle.

I love where I live. I love my pile of bricks. I love my view and I love the south side.

But don’t confuse my south side love with being a Sox fan.

I have no doubt that all of us will come out on top.

And when we do, whether it takes five years or fifty years, I’ll look like a genius.

In the interim it would be nice if a local dry cleaner would open up to clean a sister’s cashmere sweaters.

So it with some dread and renewed interest that I’m watching the ‘hood around me right now.

While the values may be depressed right now, I honestly believe that they’ll go from zero to sixty and it will take everyone by surprise.

Except for me.

Progress On Dorchester

The top photo is an update of a previous picture I posted in February.

While it's great to see new construction in the neighborhood, I personally think the design and facade choices leave a little bit to be desired.

It's going to be interesting to see how that property will be marketed.

The bottom picture is the brand spanking new project that broke ground a few weeks ago.

They're moving so fast on the construction, that the second story is literally going up as I write. In fact, their moving so fast I have yet to see any permit information posted about the project.

What's New Pussycat?

I've already blogged about the Living Green Lofts.

Now say "hey" to the new kid on the block from Sergio & Banks.

Done Deal

My neighbor has sold her place.

Rumor has it that she has already closed on the deal and may have already packed up and left.

I'm curious to see who my new neighbor will be. Now this ought to be interesting.

Let's Get It Sold

It's a sad day for our little slice of heaven.

A hard working, community oriented neighbor has decided to put her place on the market.

If you've been reading this blog for any length of time, you know I have a---oh how shall I describe it---"fluid" relationship with some of my neighbors.

Sometimes the peace is kept and other times it's not.

More often than not with this particular person we had a lasting peace.

As I stated earlier, she is a hard working neighbor. She understood that owning property meant a little bit more than dropping an assessment check at the treasurer's front door every month.

It's gonna be tough to loose someone like that.

Nonetheless, Mama wants to go so lets get her place sold.

If you know anyone who wants to come on down---and might I add for a reasonable price---send 'em her way.

Tell her Woody sent you.

Another One Bites The Dust

Last week at our monthly condo board meeting, it was mentioned that the second of our four foreclosed upon units was scheduled to close that very week.

Yipee!

Our new neighbor---rumored to be a fireman---should be moving in shortly.

Two down, two to go.

Won't You Be My Neighbor, Part Deux

I’ve made no secret of the drama we’ve gone through in our little patch of heaven.

It was a little touch and go at times, scary at others but I believe that we’ve been through the tough times. We're emerging from the fray a little bruised but none the worse for wear.

Assessment collection is up, delinquencies are virtually non existent and slowly but surely the foreclosures are being sold off one by one.

If the rumor is to be believed, a firefighter (**yowsa!**) has allegedly sewed up the third foreclosed upon unit.

But I’m coming to you good folks for a slightly different reason.

I put the pitch out last year for people to become my neighbors but I’m not quite sure if the invitation was investigated and/or accepted.

That’s why I’m giving you kind souls yet another chance to rest your head in Woodlawn.

As luck would have it, my neighbor is selling her place

Like mine, it’s a two bedroom, one bath with a living room, formal dining room and all of the modern conveniences like in unit washer & dryer, dishwasher, HVAC and security system.

Let’s face it friends, it’s a steal at $179K.

If you like vintage buildings (like I do) and want to realize the American dream, we’d love to have you come down and hang with us.

If you’re a faithful reader of this blog, you already know the questions to ask.

Moreover, I’m not going to insult your intelligence and white wash our past problems. The key to that phrase is these were our past problems---we’ve all come such a long was from January of 2005.

The roof has been patched, the façade has been repaired and we’ve got us some brand new back porches.

Plus that little special assessment thing would have to be paid off by the seller prior to closing.

A special psst to you first time home buyers within the city limits, Chicago Public School Teachers, Fire Fighters, Police Officers & University of Chicago employees, I believe that all of you can qualify for mortgage or closing assistance through a variety of programs.

I love how people are practically giving you money to buy a home.

I know part of what you’re thinking, “Gee the price is great and I love the place---if I could only plop it down in Lakeview of Lincoln Park.”

Well I hate to rain on your parade, Blanche but you can’t.

Quite frankly none of us can.

The irony is that Lakeview, Wrigleyville, Old Town and many parts of Lincoln Park were unqualified shit holes until people saw those diamonds in the rough and took responsibility for the neighborhood.

That also meant telling the Jenkins Boys to move along.

You don’t think the neighborhoods that you see in their current form just happened that way do you?

Come be my neighbor. Come be a part of the solution. Buy me neighbor’s unit and let’s greet each other on our front porches.

In five years you’re going to enthusiastically thank me.

I might even throw in a Moo & Oink T-Shirt as a welcome to the neighborhood gift.

The Good News, The Bad News & The Good News

The Good News: The second of our four foreclosed upon units sold at auction yesterday.

The Bad News: It sold for $130,000. Significantly below appraised value.

The Good News: Since appraisers usually use MLS listings for their comps, the sale
should not affect our property value.

The sale is still pending final approval from the seller and then won’t close for another 30 days. I can only pray that our new neighbor is someone who actually wants to be our neighbor, live in our association and is a decent responsible person.

Please no more investors or flippers.

(**fingers crossed**)

Signs

You know there’s something a bit disconcerting about seeing a couple of auctioneers duct tape a big yellow auction sign to your building.

Actually I should say a building in our association.

Apparently one of our mortgage company neighbors is tired of having their unit on the market.

A price reduction of close to $60,000 wasn’t working for them either.

They’ve reached their breaking point and are putting the unit on the auction block.

Did I mention that this unit is in the building that has the crumbling facade?

Oh yeah---that hasn’t been fixed yet either. But that’s another conversation for another post.

So my lovely sister and I are driving to Moo and Oink for some last minute barbeque fixins’ when I spy my neighbor and a nice couple chatting while a big yellow sign announcing an auction was being duct taped to the brick of the building.

Boy howdy---pull over sissy dear Woody has to investigate.

Now granted I looked like a bag of ass---my ever-present weekend headscarf, crappy tank top, jeans and my throw back sunglasses probably didn’t present the best picture to the couple from the auction house.

They seemed like a nice couple. I know they were only doing their job.

Nonetheless I explained that due to provisions in our declarations and bylaws, no sign---much less a big yellow one---could be posted in any unit window or on the outside of the building.

The gentleman said there was nowhere else to post it near the premises. He wanted to know where would I suggest that they place the sign.

No, I didn’t say what you think I might of said.

When dealing in condo business, it’s always best to keep it professional.

I suggested that they put it in the ground.

They said that after a few inches they simple hit concrete and the signposts wouldn’t go in any further.
They claimed that there was nowhere else to post the sign other than the building.

While I understood their predicament, that solution was simply unacceptable.

Plus how friggin’ ghetto would that shit look?

We have another unit in that particular building that’s for sale as well. How in Pete’s name is that one gonna get sold with a ghetto ass auction sign posted on the building?

Despite the fact they had a job to do that sign was going to come down immediately after they left.

The couple seemed resigned to that fact, took a few digital photographs and called it day.

My sister and I proceeded to Moo and Oink.

When I came back to take the sign down, it had already fallen.

Duct tape + humidity + brick = Sign on ground.

Chickens Coming Home to Roost

D-Day for one of our former owners is coming on Thursday

That’s the day he has the creditor’s meeting for his bankruptcy. He’s trying to beat us out of the money that he owes.

But I’m getting ahead of myself.

Last year the realization of our financial state was dawning on us and we knew that we had to go after some of the money that was owed to the association. It was simply too much cash to let go without a fight.

Some of the foreclosures had already gone through but despite those facts, it still didn’t erase the back assessments owed by the former owners.

Our test case, so to speak, would be one of the two owners that had yet to be foreclosed upon at the time.

His name is Maurice Cousin.

We filed a civil lawsuit against Mr. Cousin and received a judgment for $6,417.50.

What makes this particular case among the deadbeats stand out is that Mr. Cousin not only gave us the middle finger financially but the fact that he just did us so foul bears repeating.

A person being in financial trouble is not a new story to anyone. Hell, I’ve been through a few scrapes myself; nonetheless the higher issue is that you eventually pull yourself out of the hole that you dug.

I had to do it---words cannot describe how much it sucked.

It’s still a challenge to stay one step ahead of the bills but like everything in life you make a choice.

Admitting mistakes and poor decisions and then rectifying those mistakes is a part of life.

If I had to do it, why shouldn’t our errant owners “man up” and do the same?

Not Mr. Cousin.

Not only did he attempt to sell his condo prior to the foreclosure sale being final (we had a lien against the property), but when he couldn’t sell it he rented it out to some “friends.”

Kind readers, you wouldn’t want “friends” like this going in and out of your home---trust me.

No one can say for sure exactly what was going on in the unit or who actually signed the “lease” but there did seem to be a great deal of comings and goings at night and when a majority of us were at work.

I know, I know---it raised our eyebrows as well.

When the foreclosure became final and the new mortgage company owners gained access the to the unit there was an unmade mattress and box spring in the living room.

A few condom wrappers were strewn about.

As I stated, no one can say for sure what exactly had been going on in the unit but my neighbor and I viewed the contents of the living room and just shook our heads.

For the record, the bedrooms---where the bed should have been---were empty except for a few personal objects in the closet.

The dining room had a few things scattered about but no table or chairs. The kitchen had old bags of trash sitting by the back door.

The place needed a good cleaning.

How fucking gully is that? Even if you don’t like your neighbors how can you attempt to not only beat them out of cash but to “rent” out your unit.

His filing bankruptcy was only icing on the cake.

I knew that the sum of his behaviors would eventually equal that bitch ass move.

The part I find personally interesting is that a law firm is also suing him for $31,308.25. It makes the mind whirl, no?

Cough and Turn Your Head

Apparently the mortgage company owner of one of our foreclosed upon units finally understands that we mean business.

The arrival of a lien against their property has loosened the proverbial purse strings and a check for the full amount is forthcoming.

Our association lawyer just called me and broke the good news.

So much for the property manager's explanation of this type of thing is usually handled at the closing table.

Our bills can't wait until the closing table.

Why do they make us pull out the legal bitch slap? Why do they make us become unpleasant to defend our financial interests?

We try to play nice but then they don't take us seriously.

Methinks they'll be taking us seriously from this point on.

Activity

Some wise old person used to say, "A hard head makes a soft ass."

Their obvious meaning was that stubbornness and stupidity will continue to bring trouble your way; hence a "soft ass" from it getting kicked so many times.

Apparently one of the mortgage company owners doesn’t believe that we mean what we say.

They'll be believers when they receive notice of the lien our lawyer is placing on their property.

Then of course they're shooting themselves in the foot by not paying in a timely fashion. Not only are they getting socked with late, legal and filing fees but they contribute to the assessment delinquency rate.

Any knowledgeable potential buyer will be asking about the assessment delinquency rate as well as other business based "hard questions."

We tried being cordial yet firm. Now the time for talking is done.

Brightest Bulb

After the little storm trooper incident of a few Fridays ago, the renter in the unit moved out the next day.

Why would I expect her to be responsible enough to leave the lock box on the door instead of packing it away with her belongings?

For those of you who don’t know, a lockbox is kind of a large lock that has a compartment inside to hold keys. It’s used by the realtors to allow showings of properties at any time without the listing agent being present---it allows more flexibility in the coordination of schedules.

When I called the tenant yesterday to inquire whether she had fully moved out and the whereabouts of the lockbox and the key, she told me that the lockbox got thrown in a box in the flurry of moving.

She now has to go to storage and dig through her boxes to unearth it and return it to her former residence.

I would imagine that we’d be charged for the loss of the box if it were not returned. Moreover, who wants to be responsible for the key until another lockbox can be placed on the door?

Don’t we all have enough to deal with right now?

Frankly as an association we’ve been very accommodating trying to assist this young woman with this whole process.

After all it’s not her fault she had a shitty landlord.

At some point though, you have to show some forethought and responsibility.

We did extend ourselves to find out the combination and pass it along to her. Giving the lame excuse that you can’t find the lockbox because you packed it away ain’t feeding the bulldog.

Find it.

I sensed her reluctance against digging through all of her stored away boxes when she asked how much a lockbox costs. I guestimated at least a couple of hundred dollars---maybe even more.

The hemming and hawing ensued.

I told her that I would call her on Friday to check her progress. We need everything back by Sunday.

See what happens when you try to be a decent human being and try to help someone.

I’m getting cynical in my old age.

Finished

Finally.

The first sale of our foreclosed upon units finally closed on Friday. Thank God!

One down, three more to go.

Foreclosure Follies

When it rains it pours.

Recently, I wrote that we as an association are out of the foreclosure business. While that statement on its face is true, that still doesn’t mean that we’re still not dealing with the aftermath of the foreclosures.

It’s a complex soup my friends, one that I hope none of you have to go through---ever.

So here’s the latest.

A tenant who resides in one of the foreclosed upon units is being harassed by the new owners to move immediately.

Quite frankly I think they’re acting like supreme assholes.

Another new owner hasn’t received all of the paperwork concerning the property so they’re dragging their feet on securing the unit and paying assessments.

Here’s my favorite quote, “Send us the paperwork for the assessments and we’ll make sure it gets routed to the correct department.”

That really means, screw you---throw a lien on us if you want to see any money.

Oh, and by the way, all of the new owners of the foreclosed upon units are the very mortgage companies that the deadbeats stopped paying.

So we have the privileged as an association to be dealing with four separate financial institutions and their bureaucracies.

Did I mention that I have two jobs? Well this is my third.

And I hope you’re not under the impression that the mortgage companies are paying us because they’re such stand up, civic minded individuals.

They’re paying us because they’re legally bound to and more importantly because I personally tracked each foreclosure and located the contact person or property manager for each mortgage company.

Friends, that is no small feat.

This will be the first year that as an association all 18 units will be paying their assessments.

It’s a proud but poignant milestone.

Almost four friggin years of missed assessments from the deadbeat owners? I can’t believe we didn’t become insolvent.

Frankly it has to be through the grace of God. You know he protects babies and fools as the old folks say.

Oh yeah---we also have a pending closing on one of the foreclosed units. Our first of what I’d like to term as the “fire sale.”

It’s not only important for us to collect assessments from the current owners of the foreclosed units but it’s so important for our property value to get these units sold so our values will continue to rise.

I know property value is a dirty word. No one likes to make it about money but less face facts, at the end of the day the average Joe’s most valuable asset is his home.

We’re no exception.

When you live an emerging neighborhood that has a pattern of mortgage fraud AND four foreclosures, you’re thrilled when you get nibble on the real estate tip.

It appears that it’s (almost) one down and three to go.

Let’s hope that the other three fly off the market this spring/summer.

I’ve already pleaded for you all to be my new neighbor. I don’t know what more you want me to say?

We’re getting new sidewalks and a parkway across the street. It’s gonna make the neighborhood look even prettier---honest to Pete.

As long as you promise to be a resident owner, have basic social skills, a job and pay your bills I wouldn’t care if you had a third eye in the middle of your head.

Hell, Republicans are even welcome.

But let’s keep the wild parties to nil, okay?