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Home Buying in Lakeview : Real Estate Advice

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  • Local Info3
  • Home Buying10
  • Home Selling6
  • Market Conditions1

Activity 8
Wed Feb 17, 2010
Laura Karambelas answered:
That has been a problem with all of the FHA guidelines changing. I have a lender who offers a 95% LTV on a conventional loan and have been offering that to my clients who are interested in properties that are not FHA approved.

If you are working with an agent they should be able to give you suggestions or provide you with lenders they work with.


I hope this helps!
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Sun Jun 22, 2014
Philip Sencer answered:
Avoid All Garden units!! Disclosures mean nothing. There are many potential issues, none of which are good. If you cannot afford a normal condo, keep renting until you can. The market will favor the buyer more than the seller for a number of years to come. There is no need to buy now if Garden units are all you can find.

philip
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Tue Apr 30, 2013
Tom McCarey answered:
Simona,
I have listings in these areas and several have gone under contract recently. I don't know if Trulia removes listings from public consideration once they are under contract, but this is the likeliest explanation. I don't think many sellers are pulling homes from the market at this point. Your hypothesis would be more plausible closer to Thanksgiving when the prospect of transacting is reduced due to the holidays.

I urge you to identify a real estate professional to assist you with sifting through listings in these areas to identify the top residences that meet your criteria and to assist with touring the homes to determine positives and negatives toward the purchase of your home.

Best of luck.

Tom McCarey
The Real Estate Lounge Chicago with @ properties chicago
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Wed Jun 24, 2009
Frank Diaz answered:
I don't think the agent is saving much, if anything. That agent is entering into a dual agency role, which is not always a good place to be. It is very difficult to represent your interests and the owner's interests at the same time. Many agents won't accept such an agreement.
There are no set fees or "standard" commission amounts. Make a proposal and see if it accepted.
I have offered discounts to repeat clients of 1% to 1 1/2% (from a 6% listing) for a repeat sale.
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Tue Feb 3, 2009
Jeffrey Kropp answered:
The simple answer is they may not have fallen at all. Assuming you are referring to condos, the total number of sales has fallen but the average price has increased 12% according to figures supplied by the Chicago Association of Realtors. Of course, these figures are for all condos (not homes) in all of Lakeview and not just East Lakeview and the answer would change block to block. There has been a lot of press about appreciation in Lincoln Park and Lakeview in the Sun Times and Trib since it was a surprise to many people. I hope that helps. ... more
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Thu Jul 24, 2008
Ken Dooley answered:
Gretchen,

Older buildings can have issues with their pipes. Cast iron risers bring water up throughout the building which can corrode from the inside resulting in a build-up of rust and grime at certain locations causing a narrowing of the pipes that deliver the water. The only solution is to open walls and replace the risers throughout the building which is a massive undertaking (individual sections can also be replaced but that can be a short term solution and difficult to locate the offending section of pipe).
Having toilets that smell would seem to indicate a problem with waste build-up due to blockages in the building waste stacks or sewer lines again due to corrosion. It's difficult to check for these problems as they are behind the walls but the tell-tale signs of issues are what you describe.

Hire an inspector knowledgeable in older buildings, review the minute meetings and ask the management company for information on past and future maintenance. At that point you'll have a better understanding of what you're getting into and can make an educated decision about buying or moving on to the next building.
Bets of luck, Ken.
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Fri Apr 4, 2008
Kale Realty answered:
Check the BBB and ask a Realtor. I have done deals with the developer on previous projects on Mildred and Larrabbee both good experiences.
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Sat Sep 6, 2014
Dirk Knudsen answered:
You don't. But remember that a good agent can actually configure searches for you and hasve all the new homes that match your needs sent to you everyday into your email box with the address and otehr info that you can not find online. This way you put the MLS and the Web to work for you and never have to fill out another dumb form or read anothee FREE REPORT or add again.

Hope this helps!

Best wishes;

Dirk Knudsen
"The Real Estate Doctor"
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