Home Buying in Lakeview>Question Details

Simona, Home Buyer in Chicago, IL

I'm a first-time buyer looking in the $375 - $400k range in the Lakeview and Wicker Park/Bucktown sections of

Asked by Simona, Chicago, IL Tue Jul 22, 2008

Chicago. I've been saving lots of listings on Trulia to get started. This morning I logged in and discovered that about a half-dozen of those listings have disappeared - apparently off the market. What are the possible explanations for that? Are sellers pulling homes because of market conditions? Thanks for your help!

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Seth Captain’s answer
You are asking about two of the most desirable neighborhoods in Chicago at a price bracket that is considered below average, especially if you are looking for single family homes or multi-units, and even large condos/townhouses. Knowing that, and the fact the current market has the lowest inventory in years, what do you suppose has happened to the listings (hint: they aren't being 'pulled' by the seller)?

Stop fantasizing on Trulia and get out there. Maybe you'll be there reason one more listing gets 'pulled'.

Good luck.
1 vote Thank Flag Link Thu Apr 25, 2013
Simona:

While I cannot speak specifically about Truila, most free public access MLS websites are not in real time syncronization with MLSNI. They are screen scrapings that may be updated daily weekly etc..That's because members of MLSNI are Realtors that pay annual dues to access the network and obtain real time listing updates. MLSNI charges a fee to consumer sites to effectively photo-copy the MLS data they posess.

I believe the best way for a consumer to purchase a property is to use free public access sites like this to make a broad search of the types of homes & neighborhoods you are interested in then find a realtor to provide you real time data of what's currently available in those areas. It can save alot of heartache by not falling in love with homes on websites that have already found buyers. (contract pending).
1 vote Thank Flag Link Tue Jul 22, 2008
Good evening Simona,

First steps:

Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes Thank Flag Link Tue Apr 30, 2013
All of the info is pulled from the MLS and typically is not up to date. Many listings you see may have sold or come off the market a while ago and Trulia is just catching up. Id reach out to an agent and have them set you up on a MLS search. Its the only true way to get up to date info.
0 votes Thank Flag Link Tue Apr 30, 2013
Hey Simona,

Going shopping for a Home. It may seem backwards to shop for a mortgage before you shop for the house, but there are several reasons for doing this. Shopping for a mortgage will also help if you can get “pre-approved” for the amount you’d like to borrow. This means the lender has looked over your credit and financial statement and agreed to lend you the money. Sellers like pre-approved buyers because there’s less risk the deal won’t go through. First, you’ll find out how much you can borrow, which has a lot to do with how much house you can buy.

Whether you’re, buying, building or Re-Financing your dream home, you have a lot riding on your decision. Market conditions and mortgage programs change frequently, and I welcome the opportunity to serve your needs with quick and accurate real estate financing advice. I have the expertise and knowledge to help you determine the absolute best loan program to meet your objectives. If you are already working with a lender, don’t be shy to give me call so I can price the same mortgage for you with less cost. What do you have to loose but your money?

Ensuring that you make the right choice for you and your family is my ultimate goal. And I am committed to providing my customers with mortgage services that exceed their expectations.. As always, you may contact me anytime by phone, fax or email for personalized service and expert advice.

I amavailable nights/weekends.

WarmRegards,

Josh Marks.
Jmarks@wintrustmortgage.com
JoshMarksMortgage.com
Direct:773.303.0033
Cell: 847.867.5998
0 votes Thank Flag Link Mon Apr 29, 2013
Hi Simona-
There are 9 Condo/Townhomes available in Bucktown between 240-400k. They still show active.
There are 4 Condo/Townhomes available in Wicker Park between 349-400k.

There are many things that will pull a lisitng. There is a 24 hour turnaround between the active MLS and Search engine websites like Realtor.com, etc.
Cancellation of Listing (for whatever reason), Pending status, etc.

Hope that helps!

Please feel free to contact me directly, or you can log onto my website and search for yourself.
0 votes Thank Flag Link Fri Jul 25, 2008
Simona

Many reasons why a property is available one day and gone the next. It sold, seller removed it off the market without the specifics of each home it is difficult to give you the correct answer. Are you currently working with a buyers agent? If not feel free to call me, would love to help.

lucyperna@aol.com
847-222-8656 or 847-804-4316
0 votes Thank Flag Link Wed Jul 23, 2008
I have a townhouse listing in Lakeview/Southport area that needed to be updated on Trulia so may have went down for a little while. Let me know if you would be interested in looking at it as it is right at your price range. 2 bedroom 2 bath townhouse w/ parking and private rooftop.

I can be reached at jrobinson_9@yahoo.com


Thanks,
Jeff
0 votes Thank Flag Link Tue Jul 22, 2008
There are a number of reasons why a property might no longer be available. You should align yourself with a Realtor who can answer all of your questions and aid you in your search.
0 votes Thank Flag Link Tue Jul 22, 2008
Simona,
I have listings in these areas and several have gone under contract recently. I don't know if Trulia removes listings from public consideration once they are under contract, but this is the likeliest explanation. I don't think many sellers are pulling homes from the market at this point. Your hypothesis would be more plausible closer to Thanksgiving when the prospect of transacting is reduced due to the holidays.

I urge you to identify a real estate professional to assist you with sifting through listings in these areas to identify the top residences that meet your criteria and to assist with touring the homes to determine positives and negatives toward the purchase of your home.

Best of luck.

Tom McCarey
The Real Estate Lounge Chicago with @ properties chicago
0 votes Thank Flag Link Tue Jul 22, 2008
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