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Michael Long

  • 29 Helpful Answers
  • 87 Answers
  • 7 Listings
Agent at Long Realty
Experience:
Realtor for Long Realty June 2008—present
In 2008 I came back to Long Realty with the intention of serving both the Western Suburbs…
Realtor for Long Realty September 1998—November 2001
Family owned since 1978. Serving Westmont and the surrounding suburbs with great agents…
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Specialties:
Naperville
Lisle
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Certifications
& Awards:
In 2003 I earned my GRI (Graduate REALTOR Institute) designation. Over 90 hours of course work stemming from 3 week long sessions with some of the top ... show more
Interests:
I try to stay active. Running was my thing back in High School and College. ... show more
About:
I was born in Westmont, IL.....grew up in Lisle.....headed out to Iowa for college....was a Duhawk (Loras) and a Hawkeye (U of Iowa.) When I graduated ... show more
Testimonials:
"Mike's exemplary service as a real estate agent is second to none. His experience and deep knowledge of the Chicago area market helped us make the best ... show more

Condo bldg is exactly 50% owner occupied... problem?

Michael Long answered:
Yes and yes.

Yes, in this market it is completely appropriate to help on the lending side of things. Will every prospective buyer go along with it? No. But by you being more educated you can only help if any problems do arise.

Yes, it is never a bad idea to have something in the by-laws in regards to # of units that can rent. Will you get something done before you sell? Probably not. Not only is a high % of renters not helping the lending end of things but some buyers out there won't like that their neighbors in their new condo are all renters.

Don't automatically discount the winter market as a good time to sell. While you don't have as many buyers as you do in the spring you also don't have the competition you do in the spring. If you price it right and there are not many like yours you might have a decent shot. Tough to say but don't just assume. Talk to your agent or several agents to come up with a great strategy. - Tue Aug 25 2009, 18:17

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