Enough about sellers who are “under water” on their mortgages. Let’s talk about homes that are literally under water.
Barrington Patch tells the story of an in-town area close to the Barrington Metra station that’s seen repeated flooding. One owner reports having had two feet of water in her basement. At one point cars in the train station parking lot were under water.
A 2-bedroom home in the area that last sold for $319,000 in June of 2005 is currently on the market for $230,000, “as is” with no seller “disclosures as to the condition.”
Many areas are prone to flooding in Chicago suburbs, and anyone moving from the city needs to be alert to the issue.