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Crestwood : Real Estate Advice

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  • Local Info0
  • Home Buying3
  • Home Selling0
  • Market Conditions1

Activity 9
Thu Aug 18, 2016
Angelique asked:
If interested, please answer the following questions.
How many homes have you sold this year?
Have you helped any out of state owners, and if so how many?
0 votes 0 Answers Share Flag
Tue May 19, 2015
Noah Seidenberg answered:
Call the Realtors office and ask for the managing broker. Explain the situation and you should get your earnest money back. This does not sound like a good reason to withhold it.
If that does not work, report the listing broker to the IDFPR. Illinois Department of Financial and Professional Regulation
http://idfpr.com/
... more
0 votes 3 answers Share Flag
Wed Nov 7, 2012
The Stephen FitzMaurice Team answered:
Sounds like you are about ready! I would start talking with a good lender to see how close you are.
0 votes 3 answers Share Flag
Fri Jul 13, 2012
Steve Smither answered:
Two flats are a great opportunity to get a nice home and have rental income to help pay the mortgage.
FHA loans are great for 2 flats but just know that if you decide to buy a 3/4 flat the guidelines do change. 3.5% down and low rates in the 3's make for a great deal. I also agree with Judy that you should check on the idea of a rentable basement just to make sure your in compliance with local regulations. Good luck in your search. If you have more questions do not hesitate to contact me anytime.
Sincerely,

Steve Smither
Senior Loan Originator
Milestone Mortgage Solutions
847-942-5151 Direct
847-458-9300 Office
ssmither@ardain.com
www.chicagomortgagerfateinfo.com
www.facebook.com/chicagomortgagerfateinfo
... more
0 votes 2 answers Share Flag
Wed Jun 6, 2012
Dennis Barnes answered:
Find a real estate agent that works with you, instead of trying to make a quick deal. Find a great house you want to live in for 10 years or so (big enough for kids or planned kids, close to school, shopping, etc,). Try to extend your finances with the nicest house you can afford. Agent should guide you through the lending process - shop around. Once the house is chosen hire a thorough home inspector and if report is fine - BUY. Good luck! ... more
0 votes 6 answers Share Flag
Wed Oct 19, 2011
Christopher Pagli answered:
Hi, You can visit www.homefair.com and www.spotcrime.com for in-depth reports on any area.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
... more
0 votes 3 answers Share Flag
Tue Feb 8, 2011
Wayne Beals answered:
First and foremost, your question is a legal one and should only be answered by an attorney.

I do have some commentary on this item though.

First of all, tenant's rights are subject to local ordinances, which vary from municipality to municipality, county to county, and state to state. With all due respect to the Realtor from CT who previously answered, there may be some such ordinance, somewhere wich requires a disclosure from the landlord. You shuld always check with the local housing office, village government as to tenants rights and local ordinances.

Now, commentary about your specific question. Imagine a situation in which an individual would like to rent a home from a landlord. The landlord is behind on their mortgage and needs the rental income to pay the mortgage and avoid foreclosure. The potential tenant desires to move in, stay for an extended period, and does not want to deal with a foreclosure situation or otherwise. There are a few things you can do as a potential tenant to decrease the odds of this situation:

1. Check public records for litigation pending (lis pendens) concerning the property. If there is litigation pending, the home is likely in some stage of the foreclosure process. In this situation, you may still be able to get a valid lease from the landlord, but you may have to deal with a bank as your landlord at some point if the foreclosure is completed during your tenancy. Banks typically aren't interested in being landlords. Whereas your lease likely is not affected by the foreclosure, they will likely will not want to renew once your lease expires as your tenancy may impose an obstacle to sale.

2. Look for signs of financial distress: Has the property been on the market and vacant for a long time? How much does the owner owe on the property? Is it upside down on value?

3. Make sure you know that all lease terms should be in writing and on forms required by local ordinance. Make sure you understand that a one year lease is just that, a one year lease. At the end of the lease, you may have to move if the landlord either decides to no longer rent the property (subject to ordinances).

4. Remember, as a tenant, you have rights. You have those rights and more as a property owner. If stability is what you need, you should look to get into a position to purchase a home and be your own landlord. Trulia recently published a rent vs. buy index, outlining the areas where it's actually less expensive to own. You can further reduce this cost by becoming a landlord yourself!

Regards,

Wayne Beals
Keller Williams
312 77BEALS
312 772-3257
wbeals@kw.com
www.waynebeals.com
... more
0 votes 5 answers Share Flag
Fri Nov 14, 2008
Cheng answered:
It is very easy and affordable to turn kitchen cabinets into morden and shine by just "refacing" it...

Also, new appliances these days are so DIRT cheap! no wonder GE do not want to do that any more...

Also, new material for bathroom is quick, one day job to have a brand new bath tub, shower, ...etc they do not need to be removed, the new face just be added on top of it and regroud; it is amazing!

Who knows, may be after doing all these, you will decide to stay, home sweat home ...
... more
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