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
Everyone has a different opinion as to what is "safe" so as Realtors we really can't comment since it can be considered steering. I always advise people to actually visit the area and go to a public place like a restaurant and see what you think for yourself. Chicago is an enormous city, so there is a great diversity in housing choices and people. Personally, that's what I love about living and working here.... more
I'd avoid it were I you. Lots of gang and drug-selling activity in the Howard/Damen area. It's seedy and dangerous. I never, ever walked after nightfall if at all possible, and since parking in this congested area is terrible, it's necessary at times. And "Crystal's" answer to your question is nonsensical and downright inflammatory. This part of Rogers Park is steadily deteriorating, with respect to crime and related issues. I had my condo burglarized AND vandalized in separate incidents, and my car vandalized twice.
(I am a former resident of this specific neighborhood, not a Realtor.)... more
It's tough to say without knowing more information about your personal situation but to eat $7K+ a year is a huge loss to take on for the foreseeable future.
If you're upside down by 100K- or something close- it could take a half decade or more of appreciation to even close close and more likely closer to 10 years. In that time you'll give away $80,000 in the hopes of breaking even.
Again, I can't say for sure what your best option is but I'd love to talk to you about it- it sounds like a short sale is something you should strongly consider.... more