what needs 2 b done to bring back rent control? Why can we put a man on the moon, but can't gurantee the citizens a decent place to live,Has our nation been reduced 2 a nation of people who can care less about anyone but themselves.... more
Hi Mrs t Johnson, rent to own options can be tricky, may contain hidden pitfalls and often are not beneficial and don't work out for the tenant/buyer........be careful and understand the details. Having said that, I have a completely unique and new approach that can simplify this process in a "win-win" way for everybody, especially for you, the tenant/buyer. It offers a very secure, stable process by eliminating many of the uncertainties. If you are serious about wanting to achieve such an arrangement, you owe it to yourself to contact me to see if it can work for you! I guarantee you will like the idea and I won't waste your time!
"Lester the Lister"
The amount that you want to make as a profit is definitely a factor in answering that question. A goal that I've heard is to triple the purchase price. In this case that would mean you'd want to build a home that could be sold in the mid $500's.
I'd be glad to provide you details on homes selling in that area so you can understand the market better. I've been working in Elmhurst for several years and are quite familar with the nuaces of the market there.
There are plenty of rentals in Elmhurst that will allow you to have pets. When you are starting your search, be sure to let your agent know that you have a pet. They can input your information into the search, so that you can only show you pet friendly rentals.... more
Elmhurst has 3 parking garages and many parking lots for commuters. Villa Park has a few lots too. The sooner you get there in the morning the better though. It is all pay parking though.
Koenig & Strey Real Living
Is this the same Ayesha I know????
From most of the transactions I've been involved with, sellers hesitate to rent because renters have a reputation of not taking care of property the way the owners do and the cleanup and repairs after the tenants leave out weigh the positives of renting. Also, many sellers simply need/want the proceeds from their sale to go on to the next purchase. When renting, only a portion of the rent is counted as income by the mortgage lenders and that may prohibit the owners from moving at all.
Also, many of the homes for sale are short sales where the owners are staying until they have to leave. Foreclosures are bank owned and they just want to get rid of the properties, not become landlords.... more
I recommend you look into an Extended Stay or some other form of short term rental, Shawn. It's virtually impossible to find a condo, house, apartment for only one month because those owners/landlords are looking for a 1-year commitment.... more
Your attorney is the best person to answer that. Typically you have a portion of the Title Company charges and that dollar amount depends on which Title Company is being used and then attorney fees. If you're buying a short sale or foreclosure you may be responsible for back, late association fees. Call your attorney for the best and most precise "bottom line".... more
Elmhurst is a fair distance from the Chicago... but it's very possible that your agent is familiar enough, and willing to show in Elmhurst.
The best way to determine this is to ask him/her. Are you comfortable showing us properties in Elmhurst, are you knowledgeable regarding the streets, schools, parks, etc... ? And are you willing to take us out there?
If not, it might be nice to allow your Chicago agent to refer you to an Elmhurst agent (presuming that they know someone who works that area... you don't want a "blind" referral, where they don't know the agent).
Good luck.... more
I think they are opting for short sales because they get more house for the money and that is the reason. They have not lost their jobs or had a reduced income, they simply want more house than they can actually afford.... more
I do not practice in the Western market, but this is an age-old question that needs to be addressed. I have firm feelings on Rent-to-own (RTO). If you are a seller and someone proposes this, run away! In an RTO, the seller remains responsible for property taxes, liability insurance, and ALL basic repairs and maintenance. Basically, the renter or buyer has no real buy-in or reason to take care of the house. They can just walk away and the seller is right back where they started - but usually with a property that has been poorly cared for! The better route to take is a contract sale. This is still very risky, but the buyers take responsibility for the items above (although you will want to maintain a fire dwelling insurance policy). An attorney should be consulted to write up a contract sales agreement and that document should then be filed with the county or state (in a traditional sale, the lender files the mortgage whereas you would be filing a personally held contract). With lending practices being so much tighter, more and more people are turning to contract sales as a way to start owning a home now rather than waiting until they qualify with a lender. Just keep in mind that you are trusting a total stranger in a case where a lender wouldn't. So, be careful and be sure to get legal advice!... more
Commission is always negotiable! Depending on your market conditions you might be able to come up with a commission schedule. Keep in mind when negotiating commissions to make sure you get what you paying for. Top agents bring results but they also like to get paid for their hard work and 1% extra commission will always produce better results then 1% price reduction. Good luck... more
Anyone can appeal their property taxes but it is up to the assessor to determine if they are going to adjust your taxes.
I recommend in this market to appeal your taxes once you buy and try again at least for the next couple of years.
Keller Williams Realty Partners
Trulia or any public forum may not be the right place to ask specific questions, especially when they involve pricing. Even if you get the price, it will be hugely imprecise, sort of "out of the hat" quotation. Most contractors will laugh at this kind of general estimates. Every home is different, just ask those who try to sell them now :-)... more
Well, the seller has accepted an offer, but both parties have not sign the purchase and sell agreement yet. Basically, they can accept a backup offer. The listing agent, is willing to show you the house as a direct buyer, because he/she can get a better commission if your backup offer got accepted. But the main reason is that he/she want to work with you as your buyer agent.... more
Bensenville is a very powerful community; O'Hare Airport has been around for a very, very long time. By expanding the airport it will bring jobs closer to those searching for work. As far as the planes go or traffic I would say each community has their own situation. Schiller Park is on the opposite side of the airport and is a very popular community as well. While I personally live near train tracks you get use to it. My office is in Elmhurst Illinois and was voted the top place to live by Chicago Magazine a few years ago and we have to contend with trains, planes and automobiles. You have to decide what type of life style you want. The further south you go as in Lockport, Plainfield and the surrounding communities it is the drive that most of those home owners complaine about. It really comes down to more of a personal decision of where do you want to live and the life style that is best suited for you and your family. There is no one good answer as ... to what may or may not be important to you, will be different for me and yet different for our next reader.....make your decision based on the schools, the price you can afford and more importantly your own personal comfort zone. I hope this helps answer your question.... more
Hi Katie, If you like I can recommend a few lenders for you to speak with since a lot of regulations are currently changing, especially under the FHa guide lines. there also may be other factors that they can take into consideration when getting you qualified- such as assets, credit, current joint income, etc... I hope this helps, and I would be more than happy to help you and your fiance with your real estate search. Sincerely, Dan Daniel A. Lamas, CNS, CMS, TRC Licensed Real Estate Professional in IL & FL 2009/2010 Real Estate Consultant for HG-TV's... more