ngrassinikom…, Other/Just Looking in Naperville, IL

Why are these places by the water do cheap? Are they really old? Is it because it is not a safe location so close to the water?

Asked by ngrassinikomara, Naperville, IL Sat Feb 1, 2014

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2
Each building is different and each neighborhood is different.
Some properties are part of condominiums undergoing 40 year re-certification - which usually means a special assessment, dirt, noise, and overall unattractive (at the moment) look of the building.
Other condos have large maintenance fees - so the price is lower to compensate for the maintenance fee. Some other properties are distressed sales (foreclosures or short sales) - with prices lower than the market - which attracts many buyers and creates bidding wars.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
305-904-2355
0 votes Thank Flag Link Thu Jul 31, 2014
When checking neighborhoods, you should consult the crime statistics and other information Trulia publishes. Many people prefer to buy post 2001 construction, because the building code standards changed after Hurricane Andrew. Older properties also may have higher insurance costs for the same reason.

There are pros and cons to most of Miami's neighborhoods, and it probably makes sense to talk to an agent, and get a better feel for exactly what you want and need.
0 votes Thank Flag Link Sat Feb 1, 2014
Thanks, that makes sense.
Flag Sat Feb 1, 2014
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