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Houses cursed when can’t sell at original asking price?

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Author: Brian

Here are brief descriptions of two large Chicago area homes that might be “cursed”:

It’s not the only house in Chicago afflicted with bad juju, but it’s one that has it all: an overspending celebrity (former NBA player Antoine Walker, who built it for his mother), a house way bigger than anything anywhere around it, floods both before and since the foreclosure, and now a series of unconsummated sales. There’s even a lawsuit, which Mack filed in December against a buyer who was under contact to purchase the house last summer for $900,000 but backed out…

The years-long saga of the mansion took yet another twist last year, McClelland said, when a sprinkler on the top floor broke, spilling water down the main staircase and into the kitchen and other rooms. A sizable chunk of the rehab work was ruined, McClelland said…

The Tinley Park manse is not the only snake-bit property around. A three-acre property in Schaumburg that includes a Tudor-style ranch house and an adjacent guest castle complete with three-story turrets and battlements has been on the market since 2009, originally priced at $2.4 million. Several years ago, seller Christopher Kowalski acknowledged that what began as a whimsical project “got out of hand.”

The property has been under contract twice, in 2012 and this past April, but in the end neither buyer has gone on to wear the crown. When the April sale fell through, it was relisted June 29, now at $759,000. The listing agent, Nelson Avila of Accord One Real Estate, did not respond to a request for comment, and Kowalski could not be reached.

I get the idea that housing going for a much reduced rate is not something that realtors like. But, I don’t think “cursed” is the right word here for two reasons:

1. There are not guarantees that houses should retain their value. Granted, most people don’t expect to lose money when they purchase a home. (Hence the angst over the burst housing bubble of the late 2000s.) Yet, these two houses seem to be unusual for their area and there are only so many wealthy buyers.

2. I suspect many readers would read “cursed” as “haunted” or some other horror story descriptor. Ghosts? Violent crimes? Weird sounds and noises? Oh, you mean the house just won’t sell anywhere near an older value? That’s something different than cursed.

 

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