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Home Buying in Mundelein : Real Estate Advice

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  • Local Info8
  • Home Buying10
  • Home Selling4
  • Market Conditions5

Activity 17
Fri Jul 21, 2017
Kathy Burgreen answered:
You need to learn how lenders treat workers who receive a 1099 vs. workers who receive a W2. There is a HUGE difference.

W2 employees - their income is fixed / consistent and easily verified by computer so lenders just need 1 month of pay stubs before the closing date and to get a pre approval, they just need a letter from the employer. This applies to hourly workers IF their hourly rate is fixed.

1099 or self employment - your income is NOT easily verified by computer. This means your income varies, is commission based, you are self employed, you work on a per rate basis, etc. Lenders require 2 years employment because they need to average an annual income based on your income from the past 2 years. Since you only worked 1 year, you need to work another year before looking to buy a home.

By the way congrats on your good credit score. Since you have to work another year, try to improve your score to above 700. Also use this next year to save more money for the down payment and closing costs.
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Sun Mar 5, 2017
Mikecox481 asked:
Sun Mar 5, 2017
Mikecox481 asked:
Sat Jul 30, 2016
charlesg1996 asked:
I would like to buy a building. It would be cheaper than storage
0 votes 0 Answers Share Flag
Thu Mar 24, 2016
Egallegos07 asked:
Fri Apr 24, 2015
Steven Johnson answered:
There are many different sites online you can go to. Homepath and Hubzu I know are good ones. While using a realtor is useful because we have more refined searching programs, it's by no means imperative. I believe you are capable of finding them on your own! Fell free to reach out to me with any questions you might have about forclosures and fannie mae properties; they can get tricky and confusing at times. Steven.Johnson@cbexchange.com

I hope this helps!

Steven D Johnson
Coldwell Banker
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Mon Dec 2, 2013
Coleen Grenier answered:
Need address or mls# Trebman.
Send it over and I'll help you.
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Tue Oct 22, 2013
James Tiernan & The Tiernan Group answered:
Janisk,
How did things workout for you? Did you get to sell your home in 2009? Would like to hear what happened.
Have a great day!
0 votes 7 answers Share Flag
Fri Jul 5, 2013
James Tiernan & The Tiernan Group answered:
Friend,
There are a few programs available that are based on income levels. You can contact Affordable Housing of Lake County for more details. I would be happy to assist as well.


If you find this helpful, kindly give me a thumbs up.
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Sun Mar 31, 2013
John Walin answered:
Wed Mar 27, 2013
nancy1492 answered:
Before beginning the construction of Rt 53, the State must advise each town that the road would be going through and, I would think, also obtain approval from each one. It would probably take years of discussions before the road would be built, if ever. ... more
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Sun Mar 24, 2013
resident answered:
We moved here in 2004 and were planning on moving before our kids got into high school. Then the market crashed and we are still here. It has been a blessing in disguise. My older son is in honors classes (AP included) and being a teacher myself, I am impressed with the teachers he's had and the education he is receiving. He is very happy. We were worried about safety and gang problems and have encountered nothing of the kind. The village of Mundelein just received a safe community award. Mundelein does not deserve the reputation that still lingers. ... more
0 votes 7 answers Share Flag
Thu Feb 21, 2013
Gary Geer answered:
Icecream,
Did you get an acceptable answer to your question? If you still have concerns about the property tax I may be able to help you. I offer a FREE Market Analysis of your home that can be used if you are protesting your tax bill with the County. I provide this service for any buyer, seller, tenant or homeowner who needs to know the market value of a property. Why not get the information you need when you want it and without any cost or obligation? I usually can provide this information within 48 hours.

All the best,

Gary Geer
Results Realty USA
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Sun Sep 27, 2009
Mike Stodola answered:
Buying a home backing right up to the extension path is risky. However, from working in that market for the past 9 years, the price already reflects the risk in many of the homes that back to the proposed extension. While, the it's impossible to know the true effect in value, it's also impossible to know when the extension will be built. It's been on the books for 30+ years now. While I've been in this area for just under ten years, people we're still asking this same question 10 years ago and most of those people have bought and sold in that time. So just understand the risks/rewards and make sure it makes sense to you. ... more
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Sat Jun 14, 2008
Cameron Piper answered:
Lisa Gentile,

I read your post and wondered whether you were a licensed agent or not, but was confused since you listed yourself as a "Home Buyer" with Trulia. If you are licensed there would be great advantages for you in joining your local board of realtors and signing up with the local MLS, it will have all of this information and more for you to help your investors out.

If you aren't licensed, I would be very careful what you undertake to help the investors. In Minnesota the law reads to assist "for a fee and for another" in a real estate transaction you would need a license. I would check out the website at:

http://www.idfpr.com/dpr/RE/REALEST.asp

and contact someone there just to make sure that what you are working on doesn't require a license. I would hate to see you wind up in trouble for someone that you weren't aware of. I hope that helps.
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