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Elmwood Park : Real Estate Advice

  • All37
  • Local Info3
  • Home Buying11
  • Home Selling0
  • Market Conditions4

Activity 20
Fri Mar 31, 2017
Antonette Hernandez asked:
Hi. I have a criminal background although my last conviction was in 2004 and I have been home since 2008. I also just filed for bankruptcy and just divorced. I have worked since 2009 and…
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Sun Mar 26, 2017
Scott Godzyk answered:
If you are getting a mortgage, the bank will hire their own appraiser which the buyer pays for. They will not use the sellers or a buyers appraisal. That is a great difference in value. You would have to look at the comps each used and add or deduct to fogure who is right and who is wrong. Some one is really wrong. Appraisers can be and are wrong. Most often because they are from out of area and do not know the values. Location/neighborhood can matter here, there and every where, A buyer agents job is to assist you in determining the value and what to offer so a buyer does not pay for an appraisal before making an offer, that is rare and almost never happens. The criteria should be sales within the last 6 months, within 1 then 3 then 5 miles if you have to expand. Should be within 20 years in age and 20% in size and similar in condition. Add or deduct for age, size, lot size and garage. ... more
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Thu Jun 16, 2016
June Buerkle answered:
You will need tax documents and income verification.
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Thu Feb 25, 2016
Sally Grenier answered:
Unfortunately, you'll need "decent" credit scores of at least 620-640. Being self employed can be difficult, but if you have a few years of tax returns showing decent income, there are lenders who can work with that. But many self employed people like to take advantage of all the loopholes and often show very little income on their taxes. This will hurt your chances of getting approved for a mortgage. Many people have files amended returns (and had to pay more in taxes), but then can show decent income.

Why not sit down with a local lender who can explain it all to you?

Good luck!
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Thu Apr 23, 2015
Dan Tabit answered:
Denise,
Google maps is a good tool for this. Put the address into a search bar, then get directions to Grocers or any other businesses you're interested in. It won't be perfect, but will be pretty close. ... more
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Mon Nov 10, 2014
Ethel Casasola asked:
This question was asked from http://www.trulia.com/property/3097537882-7830-W-North-Ave-514-Elmwood-Park-IL-60707
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Wed Mar 12, 2014
Robert Perlin answered:
You must live in Chicago to attend Sayre Language Academy for free. Elmwood Park residents can pay "out of district" tuition if they want their children to attend.
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Wed Jan 22, 2014
Joanna Para answered:
I would say Craigslist will be your best bet or you can check directly at the campuses. There is students that will sublease their apartment during the summer while they are off from school ... more
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Sun Feb 10, 2013
Cathi Weaver answered:
This property has been a rental property that's why the taxes don't reflect any exemptions. It's currently temporarily off the market as a rental also.

Considering there are no pictures other than the exterior, there very well may be a reason for that...they don't want you to see it. The listing mentions the 2nd floor as being unfinished with lots of potential which may mean it will require a rehab loan in order to purchase it.

Buyer is to assume village repairs. Elmwood Park is a municipality that requires a property be inspected by the village before it is sold. I assume the owner has not had the inspection as the property disclosure supplied online doesn't indicate any issues with violations the property may have with the village. So, beware that there may be issues once the inspectors come.

Last thing I can tell you about this property is that it apparently is overpriced for whatever condition it is in. Homes that are well priced in most areas, including Elmwood Park, are not lingering on the market since July with only a $10k price drop from when it came on the market.

If this sounds like a property that you want to find out more about, feel free to give me a call and I can see what else I can find out from the listing agent and/or I can take you through it if you aren't presently working with an agent.

If this doesn't sound like a property that could work for you, I'd be happy to help you find one that better suits your real estate needs.

Cathi Weaver
Keller Williams Realty Partners
847-477-3494
... more
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Mon Aug 20, 2012
Suzanne Hamilton answered:
Some agencies are so large there is very little contact between agents and no one is going to blow a deal by conspiring to increase commission for a little extra. Remember, either agent is still paid the same commission percentage by their broker. The only one that benefits from the same agency is the agency. Realtors are independent contractors and work on their own regardless of the agency.

While this would be considered an dual agency situation, there are specific laws and rules in Illinois to ensure both clients agree to the arrangement and are protected.

The long and the short is your Realtor represents you regardless of if they are with the same agency. And as the buyer, you have control of what you pay. You need to trust your Realtor. And if you suspect cause that you should not trust them, then you need to discuss with them.

You are the decision maker.
... more
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Sun Aug 19, 2012
Jim Olive answered:
No, there is no conflict of interest, so long as the agents are doing their jobs properly. The commission is the same regardless of whether the two agents work for the same broker. The commission IS tied to the purchase price, so in ANY transaction your statement is true: the higher the purchase price, the higher the commission (unless the commission is a flat fee determined in the sales agreement). The Seller's agent represents the interests of the seller and the Buyer's agent represents the buyer. Just because they work in the same office, they should not be sharing any information with each other that might damage their client's negotiating position. Even if they are married, as long as they are doing their job properly there's no conflict of interest. In Florida, where Transaction Brokers work both sides of the deal, even the SAME INDIVIDUAL, knowing the secrets of both parties, can act as a limited representative to both sides and conduct a sale/purchase with no conflict of interest, AS LONG AS S/HE IS DOING THEIR JOB RIGHT. It all comes down to ethical conduct. ... more
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Tue Jul 10, 2012
Tim Moore answered:
Not sure what you can ask for it but the seller is asking $64,500 for it.
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Sun Jul 8, 2012
Wilhoyt answered:
I was an original owner in the 8 townhouse collection there (4th Unit, closest to the alley, southside.) The units were really nice, although some of the construction was cheaper wood and we had to have things touched up. A few of the front units had some flooding problems back then, but that may have been fixed.

The big issue is the draconian housing association and the ridiculous monthly costs. Make sure you read the laws and such. The president of the association when I was there (has to be gone by now, she lived in the 4th unit on the north side, across from me) called the cops on my 4 year old son and me when he wrote on the sidewalk with chalk. She told the police it was gang writing. It was a rainbow and a dog. She called the towing service on a Brinks Service Van that parked in our driveway to come install a security system for one of the unit owners. Anyway, the garage's were setup terribly, they should have just made parking spaces.
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Mon Jun 11, 2012
Connie Bernal answered:
Almost any home inspection can do a termite inspection. They cost around 75.00. Do you need this to close on a home? You can also call terminex, I don't know how much they might charge. It's not expensive at all.
Home this helps. Look up home inspections in the internet. Not difficult to find.
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Sun Apr 17, 2011
Oly answered:
I appreciate you taking the time out to answer my question. Thanks!
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Tue Mar 1, 2011
Jamie Ublasi answered:
A normal sale in Elmwood Park should be between 209-220k. If its a short sale or foreclosure prices are different. It is best to have a professional help you directly!!
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Thu Oct 15, 2009
Michael Ofsanik answered:
Absolutely not. Do your homework and get referrals and references. Find someone who will get building permits too. Doing work without a permit can come back to bite you.

203k loans require an approved contractor and all sub contractors have to be licensed if required (plumber, electrician, HVAC). You can act as a contractor but must maintain certain insurance policies and all of the work has to be done by others who are licensed or approved. Visit the FHA/HUD website for more info on 203k loans. ... more
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