Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in Mount Prospect : Real Estate Advice

  • All50
  • Local Info11
  • Home Buying8
  • Home Selling1
  • Market Conditions3

Activity 10
Mon Sep 24, 2012
Shanna Rogers answered:
Hi chbea1998,

Have your agent keep an eye on the property and as soon as it is actively for sale, make an offer on it.

Shanna Rogers
SR Realty
0 votes 5 answers Share Flag
Mon May 28, 2012
Jan McNulty answered:
Conventional financing would be the route to go. It will require 25% downpayment and interest may be higher. But the big question is who will manage the unit while you are overseas. I know of some companies but management usually is 10% of the rental value. ... more
0 votes 1 answer Share Flag
Mon Sep 24, 2012
Robert Nowak answered:
It's going to start picking up later this year. As soon as properties start appreciating again and short sales and REO's slow down there's going to be a mad dash to beat the interest rate rally. ... more
0 votes 4 answers Share Flag
Wed Oct 16, 2013
Anna Niklarz answered:
Dear Tawtat,
Foreclosure rate for single family homes is high in Chicagoland, the prices have dropped and it is a good time to buy. Land on the other hand is harder to purchase with a great discount. By the time you purchase a lot, get the water and sewer running, get manufactured home and get it all hooked up and running....well, I think the cost would end up being much higher than a nice home, even if it is in need of some minor repairs or updates.
You also need to look at it as an investment, when you are ready to move and sell your house in few years, how many buyers would be interested in a manufactured home rather than a nice brick?
Good Luck! Anna
... more
0 votes 4 answers Share Flag
Fri Dec 13, 2013
Maria Morton answered:
IL is not my area but I did see another buyer make an offer like that last week in my office. The seller would not consider the offer. The listing agent called the next day saying the buyer wanted to make another, higher offer. The seller would not consider another offer from this buyer. Didn't even want to look at it. ... more
0 votes 5 answers Share Flag
Thu Dec 5, 2013
Anna Niklarz answered:
Hi As,
Unfortunately this property is not currently listed for sale, it's in a pre-foreclosure. RealtyTrac is listing homeowners that are in pre-foreclosure and/or have missed mortgage payments, these homes are not always available for sale and in many cases will not be if the homeowner catches up to their mortgage payment. Some foreclosed properties are pending eviction and therefore are not on the market either.
If you would like a list of foreclosed and available properties I can e-mail it to you from a better source that provides only the currently available for sale/viewing homes.

Certified Short Sale and Foreclosure Specialist
... more
0 votes 3 answers Share Flag
Thu Oct 30, 2008
Greg Olson answered:
What property are you referring to?
0 votes 1 answer Share Flag
Tue Oct 8, 2013
Bill Dafnis answered:
Unfortunately, you're in a tough position. I would recommend having your Realtor and Attorney light a fire and speed up approval period. Is this a short sale or foreclosure? If so, the bank (seller) may be taking time to determine penalties, amount owed, etc. That process can take up to 8 weeks or more. The only other thing would be if someone came in with a better offer than yours and are trying to irritate you out of the transaction. In that case, yes, there is a possibility to sue for specific performance. Make sure your ducks are in place (mortgage, down payment, etc.) and go after what you agreed to. ... more
0 votes 8 answers Share Flag
Wed May 21, 2008
Bob Brandt answered:
That sounds like a good value to me, for Mount Prospect. Have you shopped a lot and compared it to your other choices? 2 bedrooms up and 2 down will appeal to some buyers and not to others-but you only need one buyer when you sell it years from now. The big yard and train are nice features. Have you gone out with your favorite Realtor for a day or 2 and asked their opinion of this house, while they also do a market analysis for you? ... more
0 votes 6 answers Share Flag
Search Advice
Home Buying in Mount Prospect Zip Codes