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Wheaton : Real Estate Advice

  • All61
  • Local Info3
  • Home Buying13
  • Home Selling4
  • Market Conditions5

Activity 36
Wed May 26, 2010
Scott Godzyk answered:
First a warning, the old saying never do business with friends and family.... So first thing you need to do is meet with a local and trusted loan officer to get prequailified. They will tell you if you quailify for any programs now and if not what you willneed to do to quailify and how much time you will need so you know how long of a lease you will need. the most important thing is they will tell you if you can quailify for that amount. Now if you do quailify for that amount, and you know how long you will need to get a loan. You need to figure what market rent is ofr that area as well as you should see what market price is for the house. When you are ready , make sure everything is in writing, you shoudl have 2 agreements, 1 is the rental agreement and 1 is teh purchase agreement. It shoudl spell how much money gets credited to you for down payment and closing sosts. i would include teh seller payin 3% of your closing costs in teh purchase agreement. In teh rental agreement figure what 5% of teh purchase price is, and divide by the amount of months the lease will be , and that amount shoudl be credited to you when you buy the house. If you dont purchase you dont get any credits though. good luck working things out ... more
0 votes 7 answers Share Flag
Tue May 18, 2010
Colin Churchill answered:
Dear Home Seller

I am sorry you have had this problem, you should get feed back from your agent on any showings, as this will tell if there are any reasons why your home is not selling. May be your agent should be there when the next showing is being done in order to get the feed back.
Colin Churchill
Platinum Realty Services Inc
Fort Myers
Tel: 239 634 9499
... more
0 votes 28 answers Share Flag
Fri Jan 4, 2013
Patrick Thies answered:
It appears that you already have a relationship with an agent. I would suggest that you contact the agents broker and discuss this matter with them. The broker may suggest an agent that will meet your needs better. Depending on whether or not you have signed anything with the current broker, you may have some obligation financially with that broker. It's best to try and work something out with the current situation before moving on to another agent or office. ... more
0 votes 12 answers Share Flag
Sat Oct 10, 2009
Robert Greenblatt answered:
All things being equal, the 4 bedroom is more house for the money. Assuming the homes are located in the same neighborhood, have the same number of bathrooms, and are in the same condition. A typical family of 4 people, may find the extra bedroom, very convenient. However, no 2 homes are the same. Try to look at the homes objectively: floor plan, lot size, neighborhood, condition....everything.

Robert Greenblatt
Keller Williams
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Thu Jul 9, 2009 answered:
I have not had a problem in Wheaton.

Jim McMahon
0 votes 2 answers Share Flag
Wed Feb 16, 2011 answered:
Mon Apr 29, 2013
Zb7779 answered:
prices will drop more.

One other request I have is please stop showing 100 homes to buyers. This really confuses them and makes it hard for them to make a decision. Yes, there is a lot of inventory but that shouldn’t mean endless showings. I think each buyer should not be shown more than 15 houses to choose from. Realtors should do their home work and also check to see if buyer is actually “Pre Approved” and stop wasting people’s time. There are just too many “recreational” buyers out there. ... more
0 votes 9 answers Share Flag
Fri May 15, 2009 answered:
Thu May 14, 2009
Daniel A. Lamas, CNS, CMS, TRC answered:
If you can provide me with some zip codes I'd be more than happy to tell you what the absorption rate is for properties in that price point. This will essentially tell you how quickly properties are selling at in those particular area and how many actives to sold properties there are. I find this very helpfull when trying to determine value/market trends. However, without a specific area the information would be skewed since it is entirely dependent on the location. Feel free to email or call me directly as I hope to be of assistance. I can also set up a search based on actives or solds in whatever area you're interested in based at that price point.

Daniel Lamas,CNS, CMS, TRC
Coldwell Banker Residential
(305)776-6993- cell
... more
0 votes 5 answers Share Flag
Mon Feb 16, 2009
Timothy Fitzgerald answered:
If you wan't to upgrade you will get a bargain when you purchase a new home that will probably out weigh the loss you may take. You have to price it right or you will be wasting your time, though

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0 votes 9 answers Share Flag
Sat Sep 6, 2008
Dallas Texas answered:
GREAT QUESTION: Yes her income would count towards your application for obtaining a loan. However she needs to be in the SAME position for approx. 2 years, if she has changed companies still in similiar postion that is fine.
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Sun Nov 16, 2008
Mark Roncone answered:
Real estate commissions are negotiable. It is up to you and your agent to agree on. Are you working with a Realtor now? I would be happy to help!
0 votes 9 answers Share Flag
Fri Oct 15, 2010 answered:
Wheaton has 70 homes under contract out of 440, many of these are newer listings. Wheaton & Glen Ellyn are doing better than many towns out west but it is still slow over all.
0 votes 10 answers Share Flag
Fri Oct 15, 2010
Jennifer answered:
Some would say no because it has gotten tougher for those potential first time home buyers to obtain a loan-others would say yes because the prices are great & qualified individuals can still get a loan with a decent rate. I say if you have to sell your home then market your home as best as can be done & be patient! ... more
0 votes 8 answers Share Flag
Sat Apr 2, 2016
Sara Provost answered:
That is tough! All three communities are wonderful. I'd even add a 4th one...Geneva. All of them have wonderful schools, park districts, downtown areas...all important to a family. I wouldn't hesitate to live in any of those towns. Each has its own benefits though. I currently live in Glen Ellyn, and love the characteristics of the village and the different home architecture. Glen Ellyn also has a small town feel and we love the proximity to the train as my husband commutes downtown. I grew up in Wheaton, and spend a lot of time there still. Again, good proximity to the train. Wheaton also has very strong religious communities. While St. Charles and Geneva aren't options for me personally right now because of their distance from downtown, I often wish I could live there because they share so many wonderful characteristics with Wheaton and Glen Ellyn, the advantage I find for Geneva & St. Charles is that you can get a lot more house for your money. So if commute isn't an issue for you, maybe that's a good bet. If you have any specific questions about any of the communities, feel free to contact me. As I mentioned, I grew up in Wheaton, now live in Glen Ellyn, my parents live in the Geneva/St. Charles area and I've sold homes in all the communities. ... more
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Fri Nov 11, 2011
Sylvia Barry, MAS,CIPS,SRES answered:
No, Trina, you are not obligate to use her as your buyers agent - unless you signed a buyer agent agreement with her. A disclaimer - I am in CA. So, IL might have different rules, but I have not seen that on this board.

The only one I know might do that is New Home Developments. Quite a few new home developers have the rules of requiring an agent to sign you in when you first view the home; and if you don't have an agent who brings you to view the new homes; then even if you have a Realtor, your realtor can not be involved if he did not sign you in. That's the one thing that might be different. .

As far as resale is concerned, I don't think you are obligate to use the agent who showed you the house because the listing agent would not come and show it to you.

In this case, i will be especially careful about who I pick as a Realtor - somebody who will protect YOUR interest instead of theirs.

... more
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