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Home Buying in Park Ridge : Real Estate Advice

  • All53
  • Local Info4
  • Home Buying12
  • Home Selling2
  • Market Conditions3

Activity 12
Tue Oct 6, 2015
John Meyers answered:
Hello Kazz. I have helped many first time home buyers with the IL Smart Move 1% Down mortgage program. -- Although that program was phased out, there are various new IL programs just like it that my Wintrust broker knows inside and out. -- Most homes that you would qualify for are homes that are under $300,000 and have taxes that are under $6,000/year so you are looking in the right suburbs. --To learn more, just call me at 847-533-7115 or email MeyersRealty1@gmail.com. Thanks, John ... more
0 votes 11 answers Share Flag
Tue Sep 16, 2014
John Meyers answered:
With Rent-To-Own, you are usually at the seller's mercy since you don't take title to the property yet you are paying an extra fee for the "hope" that you will some day be the new owner.

Consider buying with 1% to 3% down. -- Illinois has a great 1% Down loan program and you only need 640 credit and an income above $40,000/year.

Sincerely,
John Meyers
... more
0 votes 4 answers Share Flag
Sun Jan 12, 2014
parin upadhyay answered:
I am investor and owns property in Park Ridge and close by area. I am looking for partner you can email me uparin@sbcglobal.net
0 votes 7 answers Share Flag
Wed Dec 4, 2013
John Meyers answered:
Already sold, however, there are plenty more in non-flood areas.

Just let me know if you would like some help.

Thanks,
John Meyers, Managing Broker
Meyers Realty & Chicagoland Rentals
Park Ridge, Chicago & All Suburbs
www.MeyersRealty1.com
c: (847) 533-7115
... more
0 votes 7 answers Share Flag
Mon Apr 29, 2013
Heidi Mergenthaler answered:
Heidi Mergenthaler, Broker, Broker, Park Ridge, IL
The Park Ridge area is very community oriented and yes there are several block parties that happen in the later summer months. I have lived in the area and have sold real estate here for many years, raised my child here, and participate in community activities. I also run or walk daily in Park Ridge, as do many other people. I personally feel safe and welcomed. I feel it is a community where people feel "at home" in. There are many activities, a wonderful downtown area, and easy access to the city and other northshore and northern suburbs. And the Park Ridge Country Club is an elegant and great course. The forest preserves are nearby for bike riding or hiking, there is a lake nearby for fishing and trails to take a bike ride up to Ravinia. I love it here!
Feel free to call or email me with additional questions: Heidi Mergenthaler, Managing Broker
New Avenues in Real Estate, 847-334-1259 hm@NAREchicago.com.
... more
0 votes 4 answers Share Flag
Fri Jan 27, 2012
KK Yan answered:
A flood map and other zoning info may posted in village hall for public use as well. No hurt to call to find out.
0 votes 3 answers Share Flag
Sun Jan 31, 2010
Dianne Hicks answered:
I absolutely agree with previous answers. A professional is a MUST in this situation. A little up from might save you thousands down the line. I just would like to add, I would question Lifetime warranty, I have yet to met 1 contractor that has given a lifetime warranty on their jobs in this area. No disrespect intended towards your realtor but that sounds like a snow job and something I personally would never say unless I saw it in writing and verfied the source of that writing. Buyer beware and due your due diligence. ... more
0 votes 5 answers Share Flag
Wed Jan 6, 2010
Wayne Beals answered:
Make sure you have an licensed agent or attorney help you craft an offer to purchase. You'll want to make sure you have appropriate contingencies to protect your position and allow for due diligence.

Best of Luck

Wayne Beals
Keller Williams CCG
312-77BEALS
312-772-3257
wbeals@kw.com
... more
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Sat Sep 19, 2009
Michael Stangel answered:
0 votes 1 answer Share Flag
Wed Apr 8, 2009
Wayne Beals answered:
John,

If you're not working with an agent in your area, I highly recommend to find a good one.

A good agent is your best source of referrals to attorneys and lenders.

Purchasing a condo is a good idea, especially with prices so low, but a condominium purchases can get complicated by things such as:

1. Association financial health
2. Rentals in the building
3. Developer controls
4. Bylaws and FHA approvals
5. Other restrictive covenants
6. Property condition and deferred maintenance

You'll want to review the financials of the association, as well as inspect common elements such as roofing, porches, common mechanicals, tuckpointing. These are big ticket items and condition or capital improvement plans should be know during attorney review so you still have an out, or can negotiate the issues. A solid attorney can help you with the review process. A good agent will help keep the deal on track during the review. You should also review the minutes of the associations board meetings during the attorney review period.

Best of Luck.
... more
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