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Home Buying in Wicker Park : Real Estate Advice

  • All36
  • Local Info6
  • Home Buying13
  • Home Selling2
  • Market Conditions2

Activity 13
Tue Feb 25, 2014
Mike Opyd answered:
Only you can answer this. Drive through areas, grab food or a coffee and see which areas are what your looking for.
0 votes 24 answers Share Flag
Tue Jan 28, 2014
Dustin Harvey answered:
Look at the city of Chicago's website. They have a crime checker section, where you can look at different neighborhoods and areas.
0 votes 15 answers Share Flag
Fri Nov 22, 2013
Evelyn S. Fred answered:
Hi Amy,

There is no address shown.

Call or email me directly and I will set up a search for you, no obligation.

Good luck!
0 votes 14 answers Share Flag
Thu Aug 29, 2013
Nabih Kanaan answered:
Residential 2 bedroom $1,800-$2,800.00 a month. If you like the area and would like to know what it may take to buy a place with the same payment range I would be happy to talk.
0 votes 5 answers Share Flag
Mon Feb 4, 2013
Luke Wojcik answered:
It depends, every transaction is different but generally 2-3%. Dont know the specifics of your deal but i you are financing have your agent try to have the seller pay for closing costs.
0 votes 14 answers Share Flag
Sat Feb 2, 2013
Rusty Payton answered:
One way is to use the same title company that issued your purchase tittle policy. Many title companies will discount the title policy cost if they issued the prior policy. Be wary of lenders that offer unusually low or "no cost" financing as you will most likely be paying those costs by paying a higher interest rate which over the course of the loan can add up to substantially more than the costs you seek to avoid. When you have a quote in hand take it to another lender and ask them if they can "beat it."


Rusty A. Payton, Broker
iMove Chicago
1225 W Morse
Chicago, Illinois 60626

773-856-6200 [Office]
773-856-6201 [Fax]
773-682-5210 [Mobile]

e. payton@iMoveChicago.com


www.iMoveChicago.com

blog: iMoveBlog.com
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0 votes 10 answers Share Flag
Fri Jan 11, 2013
Don Pasek answered:
Hi, Trulia ...

If you're thinking of the home sale capital gains exemption, it works something like this:

1. You purchase a home this year.

2. You live in the property as your primary residence for a minimum of the next two years.

3. You sell the home at a profit after living in it as your primary residence for at least two years.

4. You may deduct at least $250,000 of profit from the sale from your taxable income.

The profit on the sale as outlined above is exempt from tax up to $250,000 for individuals and up to $500,000 for married couples filing jointly. If you were to move out of the property before the two-year period, you may qualify for a reduced exclusion based on your situation.

But what if you don't sell it after only two years? Or what if you move back and forth between other homes and the one you eventually sell?

Under these circumstances you may still be able to deduct the capital gain as outlined above, as long as you lived in the home you sell as your primary residence for a total of two of the past five years. So for example, if you live in the property for six months immediately after you purchase it, then move away for a year, then move back for a year, then live elsewhere for a year, then move back again for six months and then sell the property, you still should be eligible for the full deduction.

IRS Publication 523, available from the IRS website at http://www.irs.gov/taxtopics/tc701.html, contains eligibility requirements for this deduction. In general, the IRS site has a lot of useful and plain-English information about how tax law applies to real estate. Take a look!

Most tax-preparation software can calculate your deduction and determine your eligibility automatically. Of course, it's always a good idea to consult a tax professional before filing to analyze your specific situation. A CPA might have additional suggestions about how to structure your tax liabilities to your advantage. For significant investments like real estate, the cost of a professional consultation is money well-spent!
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1 vote 2 answers Share Flag
Thu Feb 2, 2012
Accurate Inspections & Consulting answered:
Since you mention a duplex down, I'll assume you are looking at newer construction. Granted it could be a vintage conversion but probably not. Flooding from heavy rain isn't really the big issue. Yes it is possible but most likely not the main concern. If this is a CMU building (cement block exterior walls) water intrusion can be a major issue both in the basement and on upper floors because of the poor nature of CMU construction. These types of buildings tend to have ongoing water seepage more than actual flooding. Depending on how well or poorly the building was built, conditions could be good or bad. All areas should be checked for water intrusion using a moisture meter at the least. Look for discolorations (yellow/tan/black) along the baseboards.
Whether you hire me or someone else, make sure you hire a good home inspector.
There are critical issues to consider and major questions to ask when considering buying into a CMU condo building. It is important to know the issues and understand the potential pitfalls involved with these buildings.
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0 votes 5 answers Share Flag
Thu Jan 6, 2011
Matt Laricy answered:
Averages are pretty useless. Each property is different. You cant group some of these houses together. If your looking for an accurate price for a property, you should have your agent draw you up a CMA. Id be happy to help.

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlaricy@americorpre.com
708-250-2696
... more
0 votes 5 answers Share Flag
Thu Jul 8, 2010
Steve Hirsch answered:
yes, we can offer you more information on how our Rent to Own
program works. You can visit our website for more info
and receive a free report.
http://www.homesolutionspro.com

Our program helps people with poor credit become homeowners.
Bad credit is ok, as long as your income and rental history meets
our qualifications, we can help you Own your own home in Charlotte, NC.

704 575-3123
... more
0 votes 5 answers Share Flag
Tue Aug 25, 2009
Oscar answered:
i have lived in this area for 10 years (blackhawk and ashland). It has gotten a lot better, but it can still be a little sketchy... my bedroom window faces ashland, and if i ever stay home and go to sleep early on a friday or saturday night, there is a pretty decent chance at some point i will be woken up by something you dont want to be around (a fight, a gunshot, etc). My front door or garage gets 'tagged' (graffitti) monthly.

I think it's fine as long as you don't plan on walking around there alone late at night on a regular basis and have a stomach for 'urban living'.

Considering the economy and housing, I think it will stay the same for the foreseeable future. the restaurant that used to be at the corner of blackhawk and ashland closed (le brochette), as have the restaurants before that (Stevie B's ribs, an italian restaurant, Duks).... i think it's one of those corners that has problems getting a sucessful business going.

There is the half built grey 'castle' right on ashland that has sat there for years not built; and less than 5 years ago, someone was gunned down right outside the parking lot of Carniceria Guanajuato (late at night, unrelated to the business).
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0 votes 5 answers Share Flag
Tue Nov 18, 2008
NonRealtor answered:
Wait another year, save another 20% on the price. Good Luck
2 votes 5 answers Share Flag
Sun Nov 18, 2007
Patti Pereyra answered:
Although there has been a prediction of a huge wave of foreclosures peaking in January, I cannot say for certain that the result will be lower prices in the Spring.

Forecasters predict that banks will finally come to their senses and have to unload the inventory they have been holding onto in hopes of getting market value in a declining market, but to "bank" on that? Nobody can say for sure.

It might be a good time now to take advantage of the inventory available, and of the deadening activity in the Winter. Sellers may be more motivated during the slow season, but again -- nothing is FOR CERTAIN.

The best time to buy is when you need to buy and can afford it. Because a solid flip opportunity may be a thing of the past for now, it would be wise to buy when you know you can stay put for a few years in order to take advantage of the declining market's prices today, and the possible appreciation during the recovery of the market next year.
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1 vote 4 answers Share Flag
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