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Market Conditions in Rogers Park : Real Estate Advice

  • All64
  • Local Info11
  • Home Buying10
  • Home Selling3
  • Market Conditions15

Activity 15
Fri Jul 1, 2016
Cbartko answered:
NJ - I own a condo on a private drive, but is not fha/hud approved. Can I still get a reverse mortgage since it's a private drive?
0 votes 10 answers Share Flag
Wed Jun 8, 2016
Cbw5355 answered:
I live in a townhouse condo development. I understand my development will have trouble with FHA approval because we have a high vacancy and foreclosure rate. Can you explain this to me. What are the percentage needed for my development to be eligible for FHA, ... more
0 votes 201 answers Share Flag
Thu May 7, 2015
Noah Seidenberg answered:
You should do a search of the incidents in the area. Find police reports
0 votes 19 answers Share Flag
Thu May 7, 2015
Noah Seidenberg answered:
Wed Mar 25, 2015
Noah Seidenberg answered:
There are so many questions to be answered. You need to talk to a lender or mortgage broker.
0 votes 2 answers Share Flag
Fri Mar 7, 2014
Bill J Deligiannis answered:
You need to be at least 62 years old - speak to a lender to determine if you qualify
0 votes 11 answers Share Flag
Tue Dec 3, 2013
Bill J Deligiannis answered:
Work with A Realtor to have access to reliable and up to date info.
0 votes 5 answers Share Flag
Fri Nov 1, 2013
Joe Schiller answered:
Wed May 22, 2013
Bill J Deligiannis answered:
Work with a REALTOR to help you with your search and budgeting.
0 votes 7 answers Share Flag
Tue Mar 19, 2013
Jim Lamson answered:
yes, the Prospect Mortgage office in your area will likely be able to obtain the recertification.

Jim Lamson
Prospect Mortgage Chicago
0 votes 6 answers Share Flag
Mon Oct 29, 2012
iMove Chicago answered:
Great questions. Rogers Park is our home. We are opening our new offices at 1225 West Morse and obviously we have a lot of confidence and expectations for the neighborhood. As for your questions, if you purchase at a good price, a rental condo could prove to be an excellent investment especially given the present market prices and available interest rates for financing. The rental season in Rogers Park peaks in March/April but remains consistently good throughout the year. The peak is driven in large part by Loyola and Northwestern students looking in the area but is influenced by many other factors as well. You will find a strong rental market for good apartments in the area at most times of the year. If you select a good location close to the trains, you should have no problem finding quality tenants. As for rent you can expect to receive, I think that you could expect to get $1350-1500 for the apartment you describe. You can look at our site and view the many Rogers Park listings that we currently offer to get an idea of pricing: www.imovechicago.com. In unit laundry and parking would be two very important selling points As for the neighborhood, there are certainly trouble spot in Rogers Park and it has its fair share of crime but I would say that it is no more concentrated than many other similar communities along the lakefront.

Good luck with your search, and if you need our assistance please feel free to call on us. FYI: our new office opens December 1 and we also have offices at 5650 N Broadway.


Rusty A. Payton, Broker
iMove Chicago
5650 N Broadway
Chicago, Illinois 60660

773-961-8819 [Office]
773-289-0806 [Fax]
773-682-5210 [Mobile]

e. payton@iMoveChicago.com


www.iMoveChicago.com

blog: iMoveBlog.com
... more
0 votes 7 answers Share Flag
Wed Aug 1, 2012
Brady Miller answered:
If you are an investor, you can have a field day with all the bargain basement 1 bedrooms that are selling cheap but renting well. You can easily get a very high ROI if you choose the right properties, and there is a lot out there. ... more
0 votes 7 answers Share Flag
Thu Dec 22, 2011
David Hanna answered:
As everyone else has said, this is property specific. But, for the whole Rogers Park MLS area, the Median and Average prices are very similar and right now sit at around $300k. In 2008 that was $349k.
In 2000, that was $339k.

I am not sure what you are looking to benchmark, but there you go, from The Chicago Association of Realtors Archive.

I would be glad to do a valuation for your home and / or the immediate area if you want more detailed data.

Dave
... more
0 votes 5 answers Share Flag
Mon Apr 25, 2011
answered:
Debbie,

As an expert in Condo lending, I can help you get the association FHA approved. Also, more importantly, I am willing to speak to your association and explain the benefits of having it approved.

Alexander Romo
Senior Vice President - FHA Specialist
Chicagobancorp
312-738-8430
alexander@chicagobancorp.com
... more
1 vote 7 answers Share Flag
Mon Apr 25, 2011
answered:
Your association can delegate the approval. It is not difficult at all. There are many companies out there charging ridiculous fees to help. If you are selling or buying, it's best you team up with a lender who will help free of charge. That's correct, free of charge. The process is quite simple.

Alexander Romo
Senior Vice President - FHA Specialist
Chicagobancorp
312-738-8430
alexander@chicagobancorp
... more
0 votes 3 answers Share Flag
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