“Why won’t house sell. Real estate market is incredible.”
The house was built in 1972 and requires a ton of work. It’s got 5 bedrooms. It’s the second largest model built in the neighborhood and there are only 6 of them there. 4 of those have been vacant for over a year.
It’s not a desired model for the demographics today. Not many people, especially younger couples, are looking for something that big needing as much work as it does.
The taxes are outrageous, over $10,000 a year. That’s almost $1,000 a month before the actual cost of the house is added. Illinois is losing population every year to the tune of a 20,000 or so. That’s the population of the entire village they live in.
Smaller, newer units are indeed selling well. But older, larger stock isn’t. They have paid it off so in theory whatever they get is cash in their pockets. But that requires willing buyers, which they don’t have.
L
10k??? Sounds cheap. Double that here. My parents home was 60 years old cluttered with junk. Took 2 years to empty and do some improvements. Good luck.