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residential real estate Archives

Residential real estate trends perplex Chicago analysts

Chicago residents looking for a new home may already have an idea of the section of the city or suburbs where they want to live. Often homebuyers look for certain areas within their price range because of the schools, proximity to transportation or other amenities that make living there convenient and enjoyable. Keeping an eye on residential real estate listings with such perks may prove frustrating to those who have a wish list that includes a location on the north side of the city.

Residential real estate bargains found in short sales

House hunting can be an exciting adventure, and sometimes a gem can drop right into the buyer's lap. If the deal goes smoothly, the new homeowners may be able to move in less than two months. However, some Illinois shoppers may be looking for a real bargain, and one option they may consider is a short sale. Short sales are often a complex and frustrating aspect of residential real estate, but if successful, buyers can land a sweet deal at a rock-bottom price.

"PIN slamming" in Chicago residential real estate sales

Purchasing a home can be exciting and a little frightening. Despite careful budgeting and planning, there is always the fear that an unexpected expense will make residential real estate ownership a struggle, perhaps jeopardizing the owner's ability to keep up with mortgage payments and other costs. One woman in a town south of Chicago was shocked when just such an expense arose. However, the seemingly underhanded manner in which she accrued the expense may be a cautionary tale for others.

Disclosure rules for a house with a ghost

There are many things that must be disclosed when selling a home in Illinois, but is the presence of a ghost or other spirit one of them? This may be a question asked often in real estate transactions because many people believe their home is haunted. Some people even move due to activity in a home. However, on the other hand, there are also many people who do not believe in such phenomena, so buying a “haunted house” would not bother them.

Consider the expenses of selling your home

It is not uncommon for Chicago homeowners to relocate after living in their homes for a while. Many of have dollar signs on their minds when they think about how much money they can make from selling their homes. What many of them fail to realize is that they may need to spend money to ensure their properties sell.

Tips on finding a good real estate agent

When you're searching for the perfect place for your family to call home, having a good real estate agent on your side can make all the difference in the world. A real estate agent can listen to your wish list and use their expertise to find you properties that fit the bill. They can also help you understand the process and assist you in seeing any red flags that pop up. Unfortunately, not every real estate agent is equally competent or ethical.

Consider the expenses of purchasing a home

Many people in Chicago often fail to take into consideration while shopping for real estate the costs of caring for their purchases. After saving up for down payments and homeowners insurance, many of them think that the only expenses they have to worry about are their closing costs. Little do they realize is that there are many other costs they need to set aside money for.

4 Important Tips for Drafting a Purchase Agreement

Buying a home is one of the biggest financial transactions that you will ever perform. Getting too excited about moving into your new house might cause you to make mistakes during the actual transaction process. Here are four important tips to keep in mind for drafting a sound purchase agreement for the house: