Best bet is to ask the agent. It also depends what you are looking for. If you told these agents you want to buy a home and close in 30 days or less, most would tell you to avoid short sales, and foreclosures may or may not close in that time period. If you are in no hurry and find a home you really like that is a short sale, then by all means go for it, they can offer some excellent deals. Foreclosures can also be great deals, you just need to factor in the cost of repairs that will need to be done, and yes the days of low bids on foreclosures are over, most are now selling for at or above asking price. But when you really look at it foreclosures still typically offer a better deal than a traditional sale. Most of the time with the foreclosure deals the stuff that you need to replace, kitchen, bathrooms, carpet, paint fixtures ect is stuff that even if move in ready on a traditional sale would typically be 20-40 years outdated and you would want to replace it anyways. I lean toward the investor side of the market and always see more value in a foreclosure that has been updated vs a traditional sale in good condition but still looks like 1960.... more
You must do some research on your own, either on the internet most towns have a website of their own,
and remember each person needs something different and each person considers neighborhoods in a different way, all based on what they like or do not like etc. Furthermore REaltors are by law not permitted
to steer by any means buyer into or away from any neighborhood for any reason s t e e r i n g its against
If unfamiliar with the area, do take the time and visit more than once, possibly chat with locals/neighbors; check out area statistics on websites on the internet...
Edith YourRealtor4Life! and Chicago and Northern Illinois expert
Working always in the very BEST interest of her clients... more