I recommend speaking with a loan officer to help point you in the right direction. They will be able to help you determine what steps you will need to take in order to ensure that you are in the best possible position to purchase once you are ready to make the move. I would be happy to help
Please feel free to contact me at your convenience
Senior VP of Mortgage Lending
No you don't. The earnest money deposit required to make an offer does not have to be this high.
Contact me about the home that you are interested in and I will help you get it without having to put
down this high of an earnest money check. My phone number is 847-987-2198 and my email is
Back in the 'bubble' years, ALL neighborhoods were referred to as 'up and coming'. It was a rationale for sellers to ask lots more money for what they had. When the bubble broke, all that fell apart and I think it will be a while before they recover.
R E agents cannot talk about 'safety'. Check with the police about crime statistics. If you plan to stay anyplace 5yrs or less, your odds of getting your money back are less.....maybe much less........than if you buy in more established areas. Try to stay more than 5 yrs anywhere you go.... more
Speak with a couple of lenders to see what you qualify for now and they will suggest ways to get you 'more' qualified over time. My web site has some lender references. There is no cost to speak with them,... more
It might be almost free. In my town we have had people "donate" a house to the fire department. They have a controlled burn so they are better equipped when they face a real fire. The one catch I know of is the shingles may have to be taken off the roof. But in the end you have the whole house burned up.
You can ask your fire department if they have a similar program. Naturally, if the house is built into the houses on either side this is not likely to be an option.
There are also some people who specialize in tearing down old houses or barns. They often pay you or work almost free for taking the materials. If you go this route make sure they are insured and can give you references.
You want to talk to your cities code enforecement department. They should be able to tell you about building restrictions and so on. You might also consider if they will not allow you to build a garage converting the house INTO a garage.
One person owning 2 deeds next to each other really just has one big lot. I am sure you could change your deed to show this is one lot. But need a lawyer to do it. You have to have the new deed recorded anyway, why not just add it onto your existing deed (if paid for)? BUT if you do, you may not be able to split it up again. So potentially, you could be stuck with one big lot. The same thing is true if you tear a house down. You might face new zoning laws that restrict future use or ban new building on that lot size.
Hence, ALWAYS talk to the city people who will fine you or will smile at you. Just ask ( again) the city about this.... more
Hi Gilbert. Below is the link to another thread here on Trulia that discussed the legality of coach houses. As far as I can tell, coach houses were used to house carriages and coaches similar to a garage. Now, I think they are converted to living quarters and some use them as rentals.... more
I am truly sorry to hear that you are going through this issue. If the loan officer knew about this issue from the beginning then it should of been addressed at that time. You should talk to your attorney about extending the contract date. This will give you some time to hire a qualified loan officer that has the experience to help you. I recommend speaking with Tom Meneses from Standard Bank & Trust ( 312-952-2126). He has been in the mortgage industry for years and is upfront about what issues might arise. He also has the flexibility to rush this transaction so the sellers don't get upset.
I hope you find a resolution Julia and get the home you want. Good luck!... more
Lis Pendens means litigation pending. In short, someone has filed a claim to the title of the property. It may be a mechanics lien, and mortgage or some other claim.
You'll have to examine the situation in more detail to find out what the story is. Your agent should be able to help you with this. If not, I recommend you get one that can advise you.
Best of Luck.
A short sale occurs when an owner proves hardship to lender--the owner can no longer afford to pay his mortgage and the home is worth less than what is actually owed--the lender agrees to accept less in order to avoid a foreclosure--A foreclosure is a legal proceeding the lender takes in order to repossess the property.... more
Rather than refer to Bucktown (which I'd describe roughly as Ashland to Western and North Avenue to Diversey) I'll refer to census tracts (which s how most Realtor's search the Multiple Listing Service). The area that you're describing as West of Western, I'd probably refer to as Logan Square. However for the sake of this conversation, both Bucktown and Logan Square fall inside the West Town census tract.
Generally speaking the Logan Square part of the census tract will be lower priced than the Bucktown part of the census tract. If you're looking at a 3BR, 2BTH condo with parking, A/C and in-unit laundry, your average price in Logan Square is around 353K right now as opposed to about 488K in the Bucktown section of the census tract. In addition to the pricing differences, there will be a signficant difference in the number of units that are available to buy in each of the area.
If you are planning to buy and hold for quite a while, then you should see appreciation over time in either market area (even assuming a further slip in prices over all of 2009). But if you are planning to resell in just a few years, then you may want to take a harder look at how the "fantastic" place that you found might hold up price-wise compared to similar properties further East. As much as pricing is based on comparable properties that have sold within a certain radius of the property that you are considering, there is always a "perception" factor that can affect pricing as well.
You sound like you have a pretty good handle on the local area and what the appeals (and drawbacks) are for you. Do you think that most folks who are looking to buy in that area are doing so because of the amenities? If so then you may want to be in a resale position where you can more directly compete with units that might have a slight amenities proximity advantage over the one you're describing.
If you need any assistance locating or price-comparing your property to others in the area, then I'd be happy to speak with you. You can contact me directly via any of the information listed below. Good luck.
Broker Associate, Sudler Sotheby's International Realty
Single family homes (new construction) hovered near $400/ft between Damen and Ashland, North to Armitage. My most recent home with fatigued developers sold in February at above $350/ft. A comparable home sold in August 2007 sold at just shy of $390/ft.
North of Armitage between Damen and the Expressway takes a hit because of the highway - new goes for a bit less - $350s.
West of Damen sfh's go for about the same as the north of Armitage near the highway.
North of Armitage west of Damen we see mostly resale - these tend to crack $300 unless they are a bit long in the tooth.
Condos? Not much availability in the Damen/Ashland/Armitage/North quadrant save rehab/resale.
My most recent sale was a duplex down extra wide that priced at roughly $260/ft. This was highly finished.
Another lofted one bed zoomed above $350/ft with parking.
Obviously there are other permutations based on specifics. Do you have a specific type of housing in mind? Specific location?
Best of luck with your search.
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