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Elmhurst : Real Estate Advice

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  • Local Info2
  • Home Buying14
  • Home Selling0
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Activity 33
Wed Sep 21, 2016
S_johnson answered:
You have to do a bit of engineering and some geology yourself. Firstly...any house in an area prone to flooding must have a backup battery sump pump system AND a place to pump the water if it comes in. I have seen some places that flooded but there was nowhere to pump the water because they had a small lake in the yard.

If you are interested in a home that has a "reverse driveway"...be careful. These houses are known to be problematic. You need to do detailed work....and likely you will need to have a "water pillow" system at the ready to protect low areas from flooding.

The floodplains are calculated based on Salt Creek flooding and flood prone areas are calculated on the basis of street/slope flow and ponding. Unfortunately the situation changes all the time. Each construction job changes runoff some. Often it is redirection of flow and the computer models are too hard pressed to describe things consistently. Rainfall is erratic. You can find maps showing some or you can go to my website at 1111 Old York Road, Elmhurst where I have some posted images and links to city planning documents.
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Wed Sep 21, 2016
S_johnson answered:
I did an analysis on this issue. Go to my listing 1111 Old York Road, Elmhurst, Illinois and follow some of the links I posted. I also posted photos of some of local city engineering studies and very detailed topographic images from the State of Illinois Geological Survey showing flood prone areas. The city is spending a lot of money mitigating problem areas by condemning some houses and building retention ponds because curb and gutter funnels water to low areas. ... more
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Wed Sep 30, 2015
Janet.boyer answered:
I am a landlord, and when I have received a inquiry from Trulia, I respond by e-mail,J but get no reply. What is going on with Trulia if others have trouble also?
0 votes 2 answers Share Flag
Tue May 26, 2015
Alisa Godoy answered:
It is very often helpful to have someone that is familiar with the specific area you are looking for. I am an agent in Elmhurst and have found that clients do like to have people familiar with the area they are looking in and around. But it is always up to you as the client who you are comfortable with. ... more
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Fri May 15, 2015
Jeff Nobleza answered:
Engage attorney Erik Miles at 312 854 8092 to help you. He has reasonable fees and is good at what he does.

Jeff Nobleza
At Properties
0 votes 2 answers Share Flag
Mon Oct 6, 2014
Synthia Noble answered:
this issue should be resolved by your realtor - they can go on their trulia account and correct the information. or they can call Trulia and get it fixed.
you are doing your realtor's job following up on this issue.

it is important to note it is a town house - easier to get a mortgage than a condo in some cases.
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0 votes 1 answer Share Flag
Tue Aug 19, 2014
Jack Disimone answered:
Hi Ellen-

Most of the previous answers have been very good ones, I'd just want to add a couple of points.

Once the lender has gone through the BPO process , they tend to be very set on getting that BPO price for the house, meaning if you see " bank approved at xyz" That lender wants xyz. The idea of low balling on a short sale that has completed a BPO is a waste of time. I know it's human nature to try to wheel and deal, but that technique only works on the infomercials.

What a buyer should do when they see bank approved is look at the home and then compare that approved price to other non distressed ( Short sale/Bank owned ) homes in the same neighborhood.

If the approved price is within 10-15 % of the other properties, you are getting some value.
The notion that you can buy a home in a 300,000 neighborhood for 150,000 is pure fantasy
in most cases.

Please contact me if you'd like to discuss this in further detail
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0 votes 10 answers Share Flag
Fri Apr 25, 2014
Ramie724 asked:
I requested more info on 3 homes through your site and they were taken over by scam artists. They requested I send money to them through western union out of state and then they would send…
0 votes 0 Answers Share Flag
Sat Mar 8, 2014
Sari Levy answered:
Hi Jane.

Did you have a specific question that we could answer about the property?

Sari Levy
Managing Broker
Lucid Realty
www.lucidrealty.com
slevy@lucidrealty.com
0 votes 1 answer Share Flag
Tue Sep 17, 2013
Gabriel Martinez answered:
Hi Tim,

I think the key is to have the Buyers well informed, and have them prepared and ready to act fast if there is a house they are interested in. There is plenty of data out there to back this information up. I explain that inventory is low, and so the "Low Ball Offer Market" is pretty much gone, so there are very serious Buyers/Competition also looking.

Similar to what Dan mentioned below, I think Pocket listings cause for a disservice to both Sellers and Buyers. I make sure to stay on top of any potential homes that my Buyers may like, by setting up Property Searches that run twice a day. Once at 10am and once at 5pm. The search will be looking out for any listings whose status is NEW, REACTIVATED, BACK ON THE MARKET or had a recent PRICE CHANGE.

I try to keep my Buyers as well informed as possible, and provide a Buyer's CMA for the home that they are considering on submitting an offer. This helps give the Buyer a Peace of Mind that they will be getting their home, at the right price. This will help you close more deals.
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2 votes 5 answers Share Flag
Tue Aug 20, 2013
Tim Wangler answered:
Lots of parking. 2$ aa day and can pay on site or you can buy a permit if you plan on parking there everyday. Best of luck!
0 votes 3 answers Share Flag
Sat Aug 17, 2013
Akhayyanb asked:
This question was asked from http://www.trulia.com/property/3115967564-410-S-Cottage-Hill-Ave-Elmhurst-IL-60126
0 votes 0 Answers Share Flag
Fri Jun 14, 2013
Fred Herman answered:
you'll need and architect. contact a local architect for an accurate estimate. They'll be competing for your business and will very accommodating.

i'll venture a guess of $175 per sq ft. for a total gut and makeover inside and out. but or course, it depends on your taste, i.e. granite cost a lot more than formica.

don't build a $2 million house in a $500k neighborhood.

good luck

fred
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0 votes 4 answers Share Flag
Fri Jun 14, 2013
Kevin Hudoba answered:
Cas,

$500,000 is on the low end of the value if you wanted to tear down a home or build on land in Elmhurst.

For example, if you found a plot of land or a "tear down" for $150,000 & it cost you $200,000 to $250,000 for demo & construction, you may already have $400,000+ into the property.

If you are looking to re-sell the property, you have to factor in real estate commissions & holding costs before realizing any profit.

As you see, $500,000 would probably be close to a break-even point before realizing any profit.

I know you asked this question back in February, so I hope you are well on your way with your plans.

Good luck!

Kevin Hudoba
Real Estate Agent
Exit Realty Redefined
630-677-5559
Kevin.Hudoba1@gmail.com
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0 votes 4 answers Share Flag
Fri Jun 14, 2013
Kevin Hudoba answered:
Julius,

I honestly always advise my clients that unless a pre-foreclosure property is already Short Sale "Approved" to not even bother pursuing it. I do this for several reasons:

1) Just because it may be listed @ a "bargain price" does not mean the lender will approve the sale at that price.

2) My attorney negotiates short sales, & the percentage of them that actually CLOSE when representing the buyer is only 20-30%!!! If you are looking to move into your next home, you don't want to waste your time if you only have a 20-30% chance of closing after waiting MONTHS for the lender to approve the sale.

3) It can take 6-12 months of waiting to possibly hear any response from the lender. All the while, you could be closing next month or next year. Too much uncertainty.

I hope this is helpful, good luck!

Kevin Hudoba
Real Estate Agent
Exit Realty Redefined
630-677-5559
Kevin.Hudoba1@gmail.com
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0 votes 5 answers Share Flag
Sun Mar 17, 2013
Dorothy answered:
what needs 2 b done to bring back rent control? Why can we put a man on the moon, but can't gurantee the citizens a decent place to live,Has our nation been reduced 2 a nation of people who can care less about anyone but themselves. ... more
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Fri Mar 15, 2013
Lester S. answered:
Hi Mrs t Johnson, rent to own options can be tricky, may contain hidden pitfalls and often are not beneficial and don't work out for the tenant/buyer........be careful and understand the details. Having said that, I have a completely unique and new approach that can simplify this process in a "win-win" way for everybody, especially for you, the tenant/buyer. It offers a very secure, stable process by eliminating many of the uncertainties. If you are serious about wanting to achieve such an arrangement, you owe it to yourself to contact me to see if it can work for you! I guarantee you will like the idea and I won't waste your time!

Regards,

Lester S.
"Lester the Lister"
RE/MAX 1st
Elmhurst
630.207.2532 (cell)
LestertheLister@yahoo.com
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0 votes 1 answer Share Flag
Wed Feb 20, 2013
Karen Boyle answered:
There are plenty of rentals in Elmhurst that will allow you to have pets. When you are starting your search, be sure to let your agent know that you have a pet. They can input your information into the search, so that you can only show you pet friendly rentals. ... more
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Wed Feb 20, 2013
Susann Rhoades answered:
There are various options available where a short term lease would be acceptable. Call to discuss further details.
0 votes 5 answers Share Flag
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