What areas/neighborhoods are you looking in? What's your goal? Owner occupied or passive investment? Chicago is so diverse and each neighborhood has distinct character and pricing. Feel free to contact me to discuss further.... more
Usually if you go to a good insurance company in your area they can advise you on the insurance you need. You'll want to be sure that your insurance is customized for your property specifically. Then you can ensure that all of your property is covered that you need, and then you won't have to worry about damages. I hope you are able to find a good insurance company that can help you out! http://agents.allstate.com/tom-wohrley-parker-co.html... more
Great question. First of all, if you look at all the south suburbs, with few exceptions, the taxes are high. Why? One reason is most of these towns have home rule, which allows them to tax without any ceiling. As far as whether they need it or not, that you would need to ask the villages. As far as I know, there are no changes to lower them. Again, another village question.
However, you do need to look at the other side of the coin. Taxes are higher BUT prices are much lower. Taxes and purchase price are all figured into your monthly payment. Would you rather pay more taxes and less price so you can earn more equity or pay less taxes and more price so you have less equity in the home.
Park Forest prices are still low and will increase in the future, so there will be equity. Taxes can be fought and you do get a deduction from real estate taxes on your annual income taxes.
You need to run the numbers. You can get more for your money when prices are low - more upgrades, more space.
We all hate taxes. Only fighting your assessment and your local government will change that. If you need a place to live, this is a potential opportunity.... more
No not really - it all depends on the rebuild cost. Depending on the coverages that you have, for a single family owner occupied home the cost should be between $600-$1200. Get a few quotes from insurance agents.... more
If you go through your insurance this counts as a claim against your policy. If the association wants you to use your insurance and you are okay with this, you should have them to pay your deductible for your insurance and also have them to tell you what section or paragrah of the buy laws have the information pertaining to common elements and responsibility. It doesnt make since to put in a claim with your insurance if they are going to deny it due to responsibility.Hope this helps you.
Side Note if it clearly states that its association responsibility then the association has to pay for it through insurance or out of the reserves!... more
Given the strict underwriting enviroment today it will be hard to obtain financing on a new property if you dont have a current lease. Call several experienced insurance agents who can point you in the right direction.