Contact Phil, he seems to know a lot of this complex....
As far as How is the neighborhood, a Realtor can guide you to the websites that give you specific information about what it is that you are interested in most, school reports are posted on the internet as well. If you really want to make sure if you like an area, you must drive through it and see for yourself if it fits your needs and your liking. By the way Realtors cannot give comments good, bad or ugly about any area or neighborhood, as it could be perceived as Steering, which is against the law!
And furthermore each and every person has different needs and wishes for where they like to live.
You have to do some research yourself. A Realtor will help you find the right property for you, educate you about the market place, provide you with comparable properties similar to the ones you are interested in, provide you with a good price range to offer and make sure that you get all the information you need about the property itself, before making an offer, and then you will have a neutral Realtor on your side negotiating the best price and best terms on your behalf....
Good Luck to you
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
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Just looking, Yes, there probably are numerous lease option possibilities out in the market - but you probably don't want one. Here's why.
A traditional lease option requires a substantially larger "option" deposit, than the typical security deposit of a straight lease. If you do that, and then you end up not wanting to buy the house in a year or less, you would usually forfeit that deposit.
Here's what I think would be a better plan. Enter a standard lease, but include in the contract a "first" right to purchase the property at the end of the lease. Normally, the two parties - landlord and tenant - would then obtain one to three appraisals - to determine a mutually agreeable price - and go into an escrow to complete a purchase/sale.
I do a lot of leases every year and have implemented such a right in most of them. I hope this is helpful to you - good luck in your search.
Here is a venue to search for properties for sale, or for lease: http://tinyurl.com/Free-MLS-search... more
Not sure what you are referring to. No, I have not read all of this home buyer's posts but this post alone contains a link that I reviewed this week online along with many other articles and write ups on the subject of "shadow inventory". My agents are having a difficult time locating available properties for our many buyers. The supply of homes is weak at best and frustrating for all.
The inventory in what you might consider the foreclosure capital of the country outside of Arizona, Nevada and Florida is drying up quickly. However, you and I know that foreclosures continue at a steady rate with forecasts of surmounting properties defaulting even on prime fixed rate loans.
So I ask....where are these reported bank owned properties and why do the banks get to regulate the ebb and flow of our regional economic structure?
Diane Wheatley, Broker
diane @moveupproperties.com... more
If you find a 3 bedroom condo that you like for under 200k then go for it. If you plan on buying a condo for a good price in OC I would advise you to be very diligent. There are a lot of investors out there that are snatching up all of the good deals 3-4 days after they're listed. If you don't have the time to look for them yourself, make sure you choose an agent who will constantly keep you informed.... more