If you buy in Naperville feel comfortable buying any type of property, meaning, foreclosure, short sale (if you have the time) or regular sale. Reason being the market is stronger and will recover quicker than Bolingbrook.
If you purchase in Bolilngbrook I would tell you to purchase a foreclosure or a short sale. Reason being there are more "distressed" properties in Bolingbrook which means there is a great chance of further depreciation ahead. If you buy a regular home for $350K it might be like driving a new car off of the lot...it might be worth less the next day, week or month.
If you purchase a foreclosure or short sale at $350K when true market value is $375 or possibly more then you create what I call the "buffer". If prices continue to come down you would hope that they would not come down any further than what you purchased the home for when you got a "good price" buying a foreclosure. Make sense?
It does not mean Bolingbrook is the wrong choice...it just means you have to know the areas and work with someone who knows the areas and can give this kind of advice. Buying a home and working with an agent is more than driving around in the same car and opening doors. Sound financial advice and expert opinions is the true value of finding a local agent who is there to help you long term instead of looking for their next commission check.
Feel free to do with this advice what you would like and if you have not hired an agent and are looking for someone that will take good care of your before, during and after your purchase don't hesitate to contact me. Best of luck!!
Realty Executives Premiere
And, honestly, Home_buyer935, everybody starts out wanting to "look at foreclosures", until they start seeing them. Resale homes that aren't "as/is" are, generally, pricing themselves competitively with REO's and short sales.
john greene, Realtor
Thanks for using Trulia.com for getting answers to your questions.
There are many options which fits your criteria, including REO "Bank Owned", Foreclosure, Short Sale and resale, please contact me today for a private list of these homes. Thanks.
Option Realty Group
Charles Rutenberg Realty
Carmen M. Keslin E-Pro
ReMax 10 In the Park
Housing at this price point in the Naperville area is moving at a very brisk pace.
Contact me and we'll search what is currently on the market rather than wasting time chasing homes already under contract.
The good ones are going fast.
John Greene, Realtor
I love Naperville and if you are not from the area I would be happy to give you the ins and outs of the different parts of Naperville and what it has to offer. If you are from here then you know how great it really is.
Please call or email me if you need anything and I will be happy to help you.
George Meredith Jr.
Enjoy the house hunt. You couldn't ask for a better combination of low prices and low rates. I work with a number of realtors in the area who can provide you with excellent assistance, including Michelle Tangorra who already responded to your post. Let me know if you would like some recommendations.
Also, have you been pre-approved? If not, please let me know if I can be of assistance. Avenue Mortgage is located in Naperville and we have been in business for 23 years. We are a mortgage banker which means we lend our own funds which is a huge advantage over a mortgage broker when it comes to purchases. By being local I'm able to do all my doc signings in person and I attend all of my closings. Also, the appraisers we use are local and understand the nuances of the various neighborhoods much better that many of the out-of-area appraisers that mortgage brokers and larger banks tend to use.
Nutan Bansal (Nootun) Real Estate Professional
ABRÂ® | e-PROÂ®| BPORÂ® |SFRÂ®|BrokerÂ®
Certified in Short Sale & Foreclosures
Charles Rutenberg Realty
Sure would love to help you- important things to know would be what are your criterion - number of rooms, baths, basement-yes/no. What is the preference in location, schools and commute.
I live in Naperville and i am very familiar to Bolingbrook too,
You can call me or email me and we can discuss in details and start you on a search.
Baird & Warner, Naperville
I'd be happy to help you find your next home. I live and work in Naperville and have seen it change and grow over the past 35 years.
You can contact me either by cell or email. I look forward to helping you!