Market Conditions in 60624 : Questions & Answers

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Denise Sands, Real Estate Pro in 19002
Denise Sands answered:
How much are comps used in this current market to assess another home's value? It seems like they are a bit
Appraisals are used as the pulse of the industry. Comparable sales in the last 6 months are very important to a mortgage lender for determining how much to lend on a particular house. ... more
0 votes Share Flag Tue Jul 14, 2009 Market Conditions in Chicago
Kipp Blackbu…, Real Estate Pro in Chicago, IL
Kipp Blackburn answered:
I bought my home for $400k in 2007. Due to a divorce, I am considering selling to find a smaller more
There are so many variables, both personal and financial. Have you considered renting the property to cover your liability and finding yourself an apartment?

If you're struggling fin ... more
0 votes Share Flag Wed May 20, 2009 Market Conditions in Chicago
Kipp Blackbu…, Real Estate Pro in Chicago, IL
Kipp Blackburn answered:
Regarding Trump Chicago's condos...
No one can answer this question. It depends on too many unknown variables, as well as your own personal circumstances and goals. Would it be your personal residence, or strictly an inve ... more
0 votes Share Flag Thu Apr 30, 2009 Market Conditions in Chicago
Christopher.…, Real Estate Pro in Chicago, IL
Christopher.Thomas answered:
how much below the asking price can I offer within reason.?
Dear Corey,

Buying a house at full prices does not necessarily lead to having to sell your house a year later.

Are you working with a real estate agent now, or are you planning to ... more
0 votes Share Flag Mon Apr 6, 2009 Market Conditions in Chicago
David Cruick…, Real Estate Pro in Palatine, IL
David Cruickshank answered:
I'm thinking of re-financing a 30 year loan on my house in Hegewisch (i'm only 3 years into the loan). The
Marie - The bank is using an automated valuation model (AVM) to determine value for your home. The only way to get a true value is from an appraisal. Now i've said that you may be ellig ... more
0 votes Share Flag Sat Apr 11, 2009 Market Conditions in 60633
David Cruick…, Real Estate Pro in Palatine, IL
David Cruickshank answered:
Under Obama's plan, do banks retool loans to reflect current market value? We're upside down in our mortgage.
Please read my blog about the home affordible refinance program. http://www.trulia.com/blog/david_cruickshank/2009/03/home_affrodable_refinanc

Here's the deal! Guidlines have been po ... more
0 votes Share Flag Tue Jul 14, 2009 Market Conditions in 60626
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
My husband and I were not able to sell our condo for 10 months. With two kids, we are in dire need of larger
Speak with agent provide info to you and CPA you can receive tax advantage on property you own.

However in many instances if a person clears items no longer used amazing how much sp ... more
0 votes Share Flag Fri Mar 15, 2013 Market Conditions in 60626
Newman-Mitri…, Real Estate Pro in Near North Side, Chi...
Newman-Mitrick RE Group answered:
Will Cook County real estate property taxes continue to escalate without public input?
There was just a piece in the news recently about how Cook County government is working on a plan to integrate the high amount of foreclosures and the declining market into the tax asse ... more
0 votes Share Flag Wed Apr 1, 2009 Market Conditions in Chicago
Christopher.…, Real Estate Pro in Chicago, IL
Christopher.Thomas answered:
How will forclosures effect Chicago prices this year? They are up 72% in Feb. for Cook County.
Dear Will,

Like in most markets nationally, foreclosures in Cook County will put downward pressure on prices of market rate (non-foreclosed and non-short sell) properties that are on ... more
0 votes Share Flag Tue Mar 17, 2009 Market Conditions in Chicago
Kale Realty, Real Estate Pro in 60607
Kale Realty answered:
South Loop, Chicago property investment
Hi Louise-

I would be happy to help. What is the exact address of the property?

I work in the South Loop and know these buildings well

You can contact me at nick@kalerealty.co ... more
0 votes Share Flag Mon Jan 26, 2009 Market Conditions in 60616
Christopher.…, Real Estate Pro in Chicago, IL
Christopher.Thomas answered:
Does a foreclosure of a unit in my condo complex really affect my home value?
Dear Stephanie,

The short answer to your question is yes- the value of your home will be affected. However if you do not need to sell your home in the immediate future, the negative ... more
0 votes Share Flag Wed Jan 7, 2009 Market Conditions in Chicago
Fabrizia, Real Estate Pro in Milano, TX
Fabrizia asked:
Average price hello,May I have the average price of Chicago community areas divvided by years since 1991 if it's possible?in excel format if you have.....ty very much
0 votes Share Flag Fri Dec 19, 2008 Market Conditions in Chicago
Newman-Mitri…, Real Estate Pro in Near North Side, Chi...
Newman-Mitrick RE Group answered:
Do you know what is current value should be for this property?
It really depends on what condition the inside of the property is in. Single family homes in this area start in the 200's and go up to well over a million. Contact me if you'd like a ... more
0 votes Share Flag Tue Dec 16, 2008 Market Conditions in Chicago
Robert Darrow, Real Estate Pro in 33334
Robert Darrow answered:
How do you see Lincoln Square development in the next 3 years compared with Albany Park?
Lincoln Square should come out ahead of Albany Park. Why, you ask?

1. Transportation. In Lincoln Square there's slightly better access to transportation. Even though the brown li ... more
0 votes Share Flag Wed Nov 19, 2008 Market Conditions in Chicago
Greg Zaccagni, Real Estate Pro in Illinois
Greg Zaccagni answered:
What are they doing with the $700 billion stimulus package to boost the economy?
Laura:

My October newsletter was on this very subject. Consider visiting my website and entering your email address and you will have updated information monthly.

The Mortgage Ad ... more
0 votes Share Flag Tue Oct 14, 2008 Market Conditions in Chicago
Carl, Real Estate Pro in Chicago, IL
Carl answered:
When will the next revote for the bailout occur?
Supposely Thursday...Congress has to convene for the Jewish holiday.... I guess the problem is nothing to worry about if they can take a vacation at this time.
0 votes Share Flag Tue Sep 30, 2008 Market Conditions in Chicago, IL
Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
Do we cut our loses and lose our deposit? Or try to renegotiate our pre-construction condo price?
Sarah,
Your first course of action needs to be to have a conversation with your builder to explain your situation. Go in prepared with recent market information about this area, averag ... more
0 votes Share Flag Sat Sep 27, 2008 Market Conditions in Chicago, IL
NonRealtor, Other/Just Looking in 23456
NonRealtor answered:
I'm a first time home owner (as of '05) in Lakeview, Chicago, IL. Has my property gone up or down?
Trulia shows there are 64 foreclosures in you zip code. My guess is that prices are going down. It looks like you bought at the peak of the bubble. Good Luck
http://www.trulia.com/ ... more
0 votes Share Flag Tue Oct 14, 2008 Market Conditions in 60657
Wayne Beals, Real Estate Pro in Chicago, IL
Wayne Beals answered:
How much is avg cost per square foot in the South Loop area? Not necessarily new construction?
Hi Karyn,

This can very greatly on type, views, location, condition and overall size of the unit.

If you look at a recent 2400 square foot townhome resale for $538,000, dollars pe ... more
0 votes Share Flag Wed Sep 24, 2008 Market Conditions in 60616
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