Sites that publish a number that the CONSUMER believes to be, and is labeled an estimate should be expected to have some basis in fact. As "Chicago' noted, the number he observed regarding his home is so incorrect that labeling it a SCAM is not unreasonable. People DO look at these numbers and DO make decisions. Calling these deceived citizens idiots may not be the most productive solution.
"Chicago" should take this opportunity to advise family, friends, co-workers, postal worker, city employees, and strangers on the street that aggregate real estate websites have a 'blank check' in regards to the data they exhibit and should be used for entertainment purposes ONLY.
Truila is perceived to be a real estate website. If you or I, were to publish such grossly false information, we would be in front of a panel of peers fighting to keep our license.
Chicago's anger is proper and should be channeled in the right direction.
Chicago, please understand, real estate professional are not responsible for the data appearing on this site. NOT EVEN THE HOMES THAT ARE SUGGESTED TO BE FOR SALE! The practice of deceiving the public with fabricated information is a SCAM! Go spread the word of your new revelation. Friends won't let their friends fall into this trap.
Best of success to you.... more
You should have a lot of options to choose from, and one-bedrooms can still be had at bargain basement prices these days. The well priced bank-owned properties are seeing investor pile-ons just like any in many other areas, but you should be able to snag a good investment with some research and a good buyer's agent to help you out. Most 1 bedroom rentals along the east side of Sheridan can fetch $1000 or more depending on finishes, views, building amenities, etc. Good luck and have fun!... more
Generally your realtor will meet with you, view the home, pull comparables showing recent sales, make allowances for any deviations in location, age and condition and then suggest a sales price. He /she should also pull active listings to show what the competition is selling their property for. There may be other units similar to yours but the motivation of the seller is another factor which impacts the sales price. Often a very motivated seller will lower the price below market price just to get it sold. If there are any estate sales, foreclosures or short sales in your development it will also influence the suggested sales price. You really need to hire a professional realtor to help you not only collect this information, but analyze what the data actually means.... more
It is not EZ to tell. Try to look for more then few blocks from Loyola or buildings with no rentals or lakefront bldg w East exposure. At not charge to you my team and I could represent you. I'm an Accredited Buyer Representative so let me help you or visit my face book page TVRealEstate and see "Home Buyers Handbook" link with 80+ pages of info.... more
It depends on a lot of factors. One of the strongest is the supply and demand. If the supply is high and the demand is low the average market time could be lengthy. For a buyer the value, strength of the association, location, amenities, upgrades can all be a determining factor as to which condo they would choose to purchase. For a seller if they have a loan, can they sell it for enough to pay off the loan, how much do they want to put into the unit in order to market it.... more
Well, what is your asking price? The amount of time that your home stays on the market is totally dependent upon the motivation that the buyer feels in regards to your property. Most prospective buyers will not feel any sense of urgency if your price is not competitive!
Question! Do you have a mortgage on your home? If so, their is a new strategy that is being used by some across the country called "produce the note". With this approach, the bank has to produce the original note in order to foreclose on a property!
If you or someone you know would like more information about this approach that is being used to stop foreclosure, just send me an email and I will be happy to give you the information!... more
Edgewater is fantastic, and huge. So you should look at the very particular pockets of Edgewater as they vary widely between each section. But a bit more concerning is how you hope that it may turn into Southport Corridor which is a compact area where drunks rule the street at night. They may be educated drunks, but nonetheless, drunks. I hope you weren't intending that a pocket of Edgewater would ever get that kind of Southport density when it came to bars, otherwise you'd be exposing your child to a whole new type of Chicago.... more
That's a great question Susan. I have three 2-flat conversions currently underway, one that is almost complete at 1660 W Carmen and another two in Old Irving Park and Lakewood-Balmoral respectively. The key is the condition and layout of the existing property. It's common knowledge that you can put as much $$ as you want into it and if you ask a contractor, they will spend your money happily. This is a long discussion so feel free to give me a call to discuss where to start. There are ways you can rule something in or out and at the end of the day, the market (and the bank) has to support the end product value. In other words, the sum of purchase and rehab cannot exceed 80% of the final market value.
2 flats, especially brownstone, greystone, and brick, make excellent homes and having a team including architect, designer and contractors who have experience in these conversions is critical. It also helps to have an experienced agent who can seek and find a viable subject property without guess work and risk.... more
That green swath (or flowered patch or hardscaped segment) is truly the city's. But, be that the case or not, the home owner feels he/she has a vested interest in shooing pooing pooches as they seek to mark the parkway. As with all things urban the best defense is common sense. Not many neighbors would applaud an owner and pet doing their business amid an oasis of blooms though it be on the parkway. Nor are goldstars given to the militant ones whose walks are not deterred by areas newly seeded for grass to be. By the same token, precious little empathy is expressed for the vein-throbbing overseers with anti-dog agendas. One thing sure to be received well should you ambulate with a female dog - carry a water bottle on the journey and freely dowse her peed-upon area to alleviate the "burn" her high nitrogen content urine tends to leave. These marks are frowned upon by most who see them.
Happy trails to you,
The Real Estate Lounge... more
I couldn't access the webpage you set up to get more info to see if I can do a search for you on my databases, but here are some free websites to find people's contact info.
If you are willing to pay they usually have offers from other sources on the sites I mentioned.
You can also use Merlindata.com or Accurint.com from Lexis Nexis but you have to set up an account with them and you have to have a legal purpose to set up an account.... more
For Edgewater Glen, defined as Peterson to Devon, Broadway to Ashland, for one bedrooms currently on the market (there are 22) is 154 days. In the last 6 months 10 1-bedrooms have sold and their average market time was 80 days. The lesson here is that places that are priced properly and aggressively marketed at the beginning of the listing tend to sell fast. Those that do not tend to languish on the market.... more
My $49 listing was a 2 week trial. Their customer service was AWESOME. It made my full service local agents look lazy in comparison.
When I went to their website last night to make sure the link was valid, the NEW flash presentation said something about listing for free but I couldn't find the details when I entered the NEW site. I guess he wants you to call or email.
St. Charles and 847 is a long way from Oak Park. So after I fired my full service agents/agency, it was a difficult choice to return to the excellent customer service but not the best marketing, or to try Prello and unknown to me. I chose Prello because they had excellent marketing and I believed my target market was city dwellers moving to the suburbs. I called a bunch of their listings to interview them for feedback on Prello. I swear one of them was you, ICG.
Not really, he was a builder not a rehabber. He said he broke up with his agent girlfriend because she was upset that he wouldn't pay her 2.5% to list his properties. Why should he? He's got an entire marketing staff, he's offering an above average co-broke and it only costs him $299 to be in the MLS.
I was surprised that EVERYONE I spoke to listed with a flat rate broker was doing so because they were INTELLIGENT and disgruntled with their previous full service Realtor - NOT to save money!!!
Agents, it's time to wake up to the fact that not all FSBOs are BOZOS.
Oh, back to Prello. Their marketing is great but their customer service and support really is LIMITED service. I would NEVER advise someone who wasn't extremely experienced to use them. To other agents outside Illinois, here in IL almost all real estate transactions involve an attorney. Anything that I lack knowledge-wise or am not getting from my flat rate Broker or would normally get from a full service Realtor, I get from my excellent attorney (Terry Faloon in La Grange) that I have used for years.
P.S. If Prello reads this, they should consider merging with Friendly Realty.... more
Some of the costs to consider are: principal and interest on your loan, PMI if putting less than 20% down, taxes, insurance, condo fee and maintenance fees (as well as future increases for some of these expenses). When I'm working with investors, it doesn’t make sense for them to make a purchase such as this, unless they are getting at least 15% more than what their monthly expenses are. You also run the risk of the condo not being cared for the same way you would care for it if it were owner occupied. Regarding an offer: the seller doesn’t have any concern for what your carrying costs would be if purchasing this as an investment. They only care that they sell it for market value, so they would not take any of this into consideration when reviewing your offer.... more
According to MLSNI, the Multiple Listing Service of Northern Illinois, today, August 27th, the average list price for a 2-4 unit building is $684,149 and for a 5 or more unit building $1,216,700. Hope this was what you were looking for.... more
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