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Home Buying in 60637 : Real Estate Advice

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  • Local Info3
  • Home Buying12
  • Home Selling1
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Activity 7
JIM Michaels, Real Estate Pro in Chicago, IL
Tue Oct 15, 2013
JIM Michaels answered:
ask the neighbors they know everything
0 votes 12 answers Share Flag
Geralyn Hops…, Real Estate Pro in Chicago, IL
Tue Oct 15, 2013
Geralyn Hopson answered:
Hi Sofille

It's hard to say if you are making a mistake. I recently worked with a client who looked at a property very similar to the one you are describing and lost it to someone else who put a bid in on it. In that same building, also in Woodlawn, were other REO's. It would have been a good investment for her because she was looking to be there long term with an eye toward renting it.

If you are paying cash, you won't have to worry about some bank requirements on the number of renters in a building.

Given that you have stated that there are a few REO's, this could be the reason there is no HOA. There still needs to be a condominium declaration etc.

If you would like to sit and chat about your options, please do give me a call at your convenience.

Sincerely,

Geralyn Hopson
Century21 SGR
312 933 4121
... more
0 votes 5 answers Share Flag
Geralyn Hops…, Real Estate Pro in Chicago, IL
Tue Oct 15, 2013
Geralyn Hopson answered:
Hello 2thepoint..

I would be more than happy to assist you with this venture and would love to speak with you about the opportunities that are out there. We can talk about the type of investment property you are looking for, your options for financing, for renting out your property if that is what you have in mind and for doing thorough background checks on your prospective renters.

I am quite familiar with properties in the 60637 zip code as well as the neighboring 60615 both of which are in Hyde Park. If can point you in the direction of other areas, as well.

Please do give me a call at your convenience.

Geralyn Hopson
312 933 4121
... more
0 votes 16 answers Share Flag
Santiago Ken…, Real Estate Pro in Chicago, IL
Sat Jun 29, 2013
Santiago Kensel Sanchez answered:
Name, Home Buyer in Chicago, IL
Mon Oct 5, 2009
Name answered:
CRASH CRASH CRASH ! FALLING HYDE PARK AND KENWOOD HOME PRICES- don't grab yet, knife is still falling! If you had any questions about the "Value" of the HYDE PARK KENWOOD MARKET- just check out the latest edition of Chicago Magazine- it profiles the big loosers and winners. Guess who the big looser is.. Kenwood data is skewed b/c some data still out- like the 9 bedroom brick for $450 K).
Humm... 37% drop on average in home prices. One of the worst in stats. Don't over pay!! Look at taxes and that will give you an idea of truer value for price. Taxes are high in chicag- usually around 1.2 to 1.3 % on older home- almost 2% on newer home. THIS REALLY helps to figure out what a home is worth. Don't you think the tax man would get more if he could?
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0 votes 26 answers Share Flag
Name, Home Buyer in Chicago, IL
Mon Nov 24, 2008
Name answered:
0 votes 3 answers Share Flag
Jon Sterling,  in Aspen, CO
Wed Jul 11, 2007
Jon Sterling answered:
Zillow data is often inaccurate and usually incomplete. They have slowly been getting better, although they are still basing their information on public records (Cook County, for example, is always months behind with entering new sales information). Plus, there isn't an appraiser in the world who is using Zillow yet.

If the condos were sold through the Multiple Listing Service, any competent agent should be able to pull those numbers for you easily.
... more
0 votes 2 answers Share Flag
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