Asked by 444wfullerton, Lincoln Park, Chicago, IL • Thu Aug 12, 2010
We purchased a high rise condo in Lincoln Park in 2006 for 225k. We recently had an appraisal (because we are refinancing) the appraisal was 210k. We completely remodeled the kitchen (20k spent). Our assesments are unfortunately getting very high (almost $500 dollars).
My question is, how do we know when a good time to sell is? Is it better to take a loss now and purchase a place at a great value and much lower assesments, or is it better to hold off, continue to pay the high assesments and wait for home values to go up? Should we wait until we can sell our place for around 250k to cover our upgrades and seller's commision?
When we sell this will be our first time, so looking for some general advice as well.
Real Estate in Chicago
Popular Categories in Lincoln Park
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!