Tough times in Bridgeport?
Posted 7/15/2008 by Joseph AskinsYou think you have it bad? Try selling real estate in Bridgeport. In the second video from our trip to Da Mare's old 'hood, Donna Murray of Gordon Realty says that she hasn't made a sale in 18 months. Talk about deathly. Press play to get Donna's take on the Bridgeport market and see more of the neighborhood from the comfort of Dave Samber's minivan.
Comments
7/15/08
Dan said:
Great video!
It is nice to get a different perspective on the Chicago real estate market. Donna gave great insight on the young educated professional… "if they don't see the appreciation in 3-5 years they are putting their money elsewhere".
(Can't wait to see the rest of the interview.)
sang kim said:
It's great to hear a professional finally coming out with honest market assessment. At least one person is not in denial.
Joe Zekas said:
Donna Murray deserves a round of applause for her bluntness, her candor, and her market knowledge.
We'll be posting more from our tour later this evening and over the next several days. If you miss a post here, you can always check our Bridgeport channel at YouTube.
ah_specialist said:
I would love, love, love to hear some further insight on how developers and agents feel the direction of development in Bridgeport is and how the alderman's office is helping/hindering those efforts…. this is a great perspective here!
7/16/08
SP said:
Hi all,
I'm thinking of buying a condo at the Union Lofts building. I am one of the young "working professionals" looking to probably move on in 4-5 years. Is it really that bad of an idea to pursue a condo in Bridgeport?!?!??!?!
Thanks,
SP
LR said:
Hello,
I am personally offended by Donna's analysis. She speaks of Bridgeport like it is the only place in Chicago that is not turning over in sales. I'm sorry your aren't making any money this year, Donna. I think Bridgeport is a great neighborhood. The people who live there, love it, and aren't really looking to move (unless it is a young professional of course). I realize that sales have been low, but, this is true for other neighborhoods in Chicago. Reality check - the economy has been down.
SP - I hope you buy in Bridgeport.
Thanks,
RF
Joe Zekas said:
LR,
I spent several hours with Donna and didn't hear her imply in any way anything about recent sales velocity in any neighborhood other than Bridgeport.
SP,
No one knows what the resale market will be in 4 to 5 years.
If you like the unit and you're comfortable with the price, just buy it. It's possible to worry or analyze the decision too much without gaining any insight.