Laura, Home Buyer in Chicago, IL

We're looking for a 3 bedroom, 2 bath, 2 car garage house with a basement in mt. prospect. We've found a

Asked by Laura, Chicago, IL Wed May 21, 2008

We're looking for a 3 bedroom, 2 bath, 2 car garage house with a basement in mt. prospect. We've found a cape cod with 3 bed, 2 bath, 2 1/2 car garage without a basement and 912 sq feet listed for $324,000 in a great school district and 5 min from the train. Backyard is gorgeous and large. Is this a good deal? Is this good resale value? I'm also wondering if having 2 bedrooms upstairs and 2 downstairs makes sense from a resale perspective.

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Laura---I am pretty sure I know the house you are contemplating ---the home is in Prospect Meadows subdivision--correct? If I am, a home closed just down the street at the end of April---it was a brick ranch w/3 bedrms 2 bths and a full finished bsmnt w/wet bar, updated kitchen, newer carpet, 2.5 car det garage---it sold at 313,000---full bsmnt adds a lot to that price----it was on the market under 1 month--- I hope that helps.
0 votes Thank Flag Link Wed May 21, 2008
Heidi--There is no 1st floor addition. The property is totally remodeled. There is also a deck and a fenced in yard. We are working with a realtor right now but I wanted to get more input from others before we take the plunge.
0 votes Thank Flag Link Wed May 21, 2008
Although you've provided some valuable info. on the property, it's hard to determine the value of the home without knowing it's exact location, the condition of the property, and the price of the recently sold comps. in the area.
0 votes Thank Flag Link Wed May 21, 2008
Laura, CapeCods have lost some appeal these last few years here in Mt Prospect--its sound as if the property may be on the high side---is there a 1st flr addition ie: a family room?
0 votes Thank Flag Link Wed May 21, 2008
Are you working with a realtor? This is what the realtor will help you with, they'll show you all the comparables in the area so you feel comfortable with your purchase.

If you need immediate assistance, you can go to my website and see the values for the area you are looking in.

Good luck with your home purchase!
Web Reference: http://www.idamccarthy.com
0 votes Thank Flag Link Wed May 21, 2008
That sounds like a good value to me, for Mount Prospect. Have you shopped a lot and compared it to your other choices? 2 bedrooms up and 2 down will appeal to some buyers and not to others-but you only need one buyer when you sell it years from now. The big yard and train are nice features. Have you gone out with your favorite Realtor for a day or 2 and asked their opinion of this house, while they also do a market analysis for you?
Web Reference: http://www.realtybob.com
0 votes Thank Flag Link Wed May 21, 2008
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