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61036 : Real Estate Advice

  • All8
  • Local Info1
  • Home Buying2
  • Home Selling2
  • Market Conditions2

Activity 7
Tue Dec 18, 2012
Edith Karoline Jasser answered:
I am one of the Realtors encouraging Buyers to be careful.....
I know that home prices are low and interest rates are low, so in general a good time to buy property.

But I always always advise my client buyers to sit down with a reputable lender to explore what their
options are, i.e. what kind of loan, for how much borrowed money, then to consider their closing costs
or how to get them paid by the Seller, and then look at their monthly expenditure when owning the home

monthly loan payment
taxes per month
insurance per month
electric bill
gas bill
water bill
repairs money put aside every month for repairs new water heater, new A/C etc.

Then deduct your other monthly expenses like food, car insurance repair and gas
clothing and entertainment (like cable, movies etc.)
and cell phones

Is there anything left or do you not have enough money at the end of each month?

Furthermore what happens if for bad luck you lose your job, do you have a reserve of
money that can carry you through a few months until you find another job?

Just be careful before jumping into it, make sure a good Realtor and Lender will put
honest and straightforward numbers in front of you, and then take some time to think
about it.

Sometimes waiting a little like a year and save some money, is a smart move.

Let me know if you need a Galena area lender and Realtor to start discussing it.

Good luck to you.

Hope this helps...

Most Sincerely yours,
Edith YourRealtor4Life and your Chicago and Northern Illinois
and RElocation Expert
Working always in the very BEST interest of her clients
at @Properties North Shore
Edith speaks French, German, Spanish & more
Get to know Edith and her Service her website is
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0 votes 4 answers Share Flag
Wed Apr 11, 2012
Jan Alderman asked:
Interest in a building that hasnt been assessed in 3 years, zoned both commercial/residental.
0 votes 0 Answers Share Flag
Sat Feb 11, 2012
Jim Cox answered:
Sue: I am a real estate agent in Galena. For some reason this website often states that the heating system is wood. I think what they are referring to is the fireplace (as opposed to gas). I don't know why this is happening but thanks for pointing it out. I'll check my listings and get that corrected. Let me know what houses you are interested in and I will let you know what type of heating system it has. ... more
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Fri May 13, 2011
Anthony Cavalea IV answered:
Your Main Variables = Price, Location, Condition, Exposure (marketing)

Location you can't change. Condition is probably good since your house is fairly new.

And the fact that your original price is so close to your current price as a short sale makes me think your price isn't low enough. Short sales are worth less for 2 reasons: 1) The buyer expects (and deserves) a discount just for having to deal with the short sale. 2) Short sellers don't get to walk away with anything anyways so they have little motivation to keep the price high.

90% of marketing is just having your home on the MLS. If your home is on the MLS, there are little things you/your agent can do, but they won't likely be the catalyst that sells the house. If your home isn't in the MLS, get an agent to put it in there ASAP.

Like Deva said below, you may want to consider renting out your home since rentals are in high demand in many areas right now.
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Sat Dec 25, 2010
Ruth and Perry Mistry answered:
Hi Ace:

Call a local Realtor that will be your best bet, every other site needs subscription
and costs money.

Happy Holidays.
0 votes 2 answers Share Flag
Tue May 26, 2009
Therese L Korahais answered:
Unfortunately- noone saw this market problem coming. Make sure it is listed on Multiple Listing Service.- you can offer higher % rate for the selling broker. Reduce it until you get an offer. The price is ALWAYS the problem. It is never the condition or the is always the price. The buyers set the market value. It is not what the sellers want- it is what the buyer is willing to pay.

Make sure you have a for sale sign that doesn't look like IT has been abandoned. Keep it straight, put up a new sign-get a gardener (or a kid down the block) to cut the grass-do 1 or 2 OPEN HOUSES and then reduce again-spark activity
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