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Lake in the Hills : Real Estate Advice

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  • Local Info2
  • Home Buying6
  • Home Selling1
  • Market Conditions0

Activity 12
Thu Jan 8, 2015
Edith Karoline Jasser answered:
Be very very careful, as you do not know where the water actually comes from, it could be a crack in the foundation or much worse of a problem.... Unless you get a good building engineer have a look at it
and may be an estimate from a company that deals with seepage and basement flooding or water penetration, and you get a good feeling for the remedy and the cost, do not buy!

Just my advice to any buyer of mine.
Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)
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0 votes 12 answers Share Flag
Thu Apr 25, 2013
Suzanne Hamilton answered:
Yes Illinois property taxes are based on market value of comparable properties. And yes, if values are going down so should taxes. BUT... In Illinois all local taxing bodies i.e. government and schools are practically soley dependent on this revenue. So...no they have not gone down. In some areas, there have been small drops in the assessed value (not near what it should be) and in some cases modest reductions in taxes, but as the government bodies and schools can not afford to lose that kind of money, they have found clever and unique ways to make it so. Tax rate increases, multiplier changes and my favorite, indicating you can't include foreclosed or short sale (distressed properties) when you consider value of a non-distressed home.

Unfortunately, taxes are a certainty. If you are moving to Illinois, there are areas that have lower taxes than others. But if you want a particular area, the taxes are what they are. However, the deal you can get now will bring real and certain equity in the future, as you are buying low at low interest rate levels. You can't control taxes, but you can take advantage of properties now. Compared to the taxes a little up or down doesn't really factor as heavily is the future equity- that is the real way to get a great deal.
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0 votes 2 answers Share Flag
Tue Jun 26, 2012
Scott Godzyk answered:
If you received a notice then you should contact who sent it to you. You can search the tax cards with your town/city to see if there is a change in ownership and can also research the deed if your area has an online deed search. You should probabily not be paying the former owners if they no longer own it. For legal questions you may want to meet with a local attorney for the free first meeting to know what your rights are Good luck working things out ... more
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Sun Feb 13, 2011
Eli Givoni-Short Sale Dept LLC answered:
Your credit is far less damaged with a short sale than with a foreclosure. We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
www.shortsaledepartment.com
Serving all 50 states
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Tue Feb 15, 2011
Eli Givoni-Short Sale Dept LLC answered:
You save the bank the cost of foreclosing on your property and just sign over the deed to them. Most banks will ask you to do a short sale first, though, because they don't want your property. They just want their money.

We are a professional short sale service and would be happy to explain the process to you. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
www.shortsaledepartment.com
Serving all 50 states
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0 votes 5 answers Share Flag
Thu Jun 20, 2013
Judi Monday, CRS answered:
You need to pick one of the pro plans--go to: http://www.trulia.com/truliapro

I am finding it is well worth the small monthly cost.
0 votes 3 answers Share Flag
Sun Jul 25, 2010
Thom Colby answered:
Darren,

Great question! I'm not in Chicago so I don't know any hard-money lenders there BUT, an alternative might be to work with a REALTOR to find the home you really want and see if the seller will provide "Seller Financing". With $100,000 down on a $250,000 purchase, someone might be willing to take the risk in the short term until you can get traditional financing.

Best of luck,

Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage. It is never beneficial to the Seller or to the Buyer and it is only beneficial to the Agent.
888-391-5245 Direct Cell
thom@thomcolby.com
www.thomcolbyproperties.com
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Thu Apr 25, 2013
Larry Hines answered:
You will have normally X amount (25 to 30) of days AFTER you recieve the writtn approval from the sellers bank. They do give verbal approval sometimes before you receive the written. That said you should have received the written approval by now. You may need to get your lender ready to do the apprasial (normally you will need gas, elec & water on). If the sellers atty and agent are calling they are doing most all they can, it is out of their hands.


Good Luck

Larry Hines, cdpe
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0 votes 4 answers Share Flag
Sat May 10, 2014
Laura Karambelas answered:
Hi Kim- I used to live in Crystal Lake and my husband would travel by train every day to get to downtown Chicago. There are 2 stations in Crystal Lake....one in the downtown area and the Pingree station. You would have to drive and park there but that would be the closest station to that area.

I hope this helps!
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0 votes 7 answers Share Flag
Fri Jan 16, 2009
Bill Eckler answered:
Karen,

Give us a call...a brief conversation will clarify much of your concern. This is truly a great time to be considering purchasing a home. We just wrote an offer on a "foreclosed" property in Port Charlotte yesterday, a 3/2/2 home constructed in 2001 with an asking price of $69,900.

This price probably doesn't even cover the costs of building materials. We would be happy to share similar opportunities. Give us a call.

Best regards,
Susan & Bill Eckler
Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
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0 votes 1 answer Share Flag
Wed Aug 11, 2010
Don Tepper answered:
I don't know the area you're talking about, so I can't provide a good answer. However, I can provide a comment on the previous answer...that Realtors are forbidden by their Code of Ethics to answer such questions. Poppycock! Of course we can answer those questions. So, keep asking. It's a good, valid question, and one any competent Realtor should be willing to provide.

Good luck.
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0 votes 4 answers Share Flag
Fri Jul 31, 2009
Keith Sorem answered:
Mary
I think you need to have a face to face conversation with a Realtor that knows your situation, and your market.
There are numerous ways to negotiate an ending that will meet your needs. With markets the way they are,
I would be tempted to get the home sold and then do a rent back. The danger is having a long escrow is that until the deed is recorded and the loan is funded, anything can happen.

You also need to look at where you are going after the sale. If you are purchasing property, you need to know what THAT market is doing too. I've got some sellers that are scared to sell, the market in my area is trending slightly downward, however the destination market is going UP, so they are losing more by waiting
In your situation it might make sense to buy the destination property and rent it out until you move in. Not to say this is ideal, but if your current market is going down, and the destination market is going up, it would be worth it to run the numbers.

Get the facts, develop your options, and pray.
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