Chicago Real Estate

If I can’t get a loan, do I get my money back?
Sally, from Barrington

Most likely- YES; however, it depends on the details of the contract. (Read More…)

Julie Varones

Where should I buy to make the most money?

It is difficult for even the most seasoned real estate expert to predict rate of price appreciation in any particular location. I advise all my clients to purchase a home that fits their personal needs, meets their budget, and that is in a location they can live in for a good duration. For instance, do you need public transportation, retail within walking distance or access to the highways? It is possible to experience appreciation in an area that develops as you live there. But your personal needs may be an indication of the future value of the property as well. (Read More…)

Eric Rojas

I was thinking of listing with a discount broker to save on the commission. Is this wise?
Sandra, from Wicker Park

I would not consider using a ‘discount’ attorney for the biggest legal matter in my life nor do I suggest using a ‘discount’ broker for the biggest purchase of your life. Statistics prove conclusively that property listed with a full service Realtor yields significantly more bottom line money to the Seller than if no Realtor is used or it is simply ‘posted’ on the MLS by a ‘discount’ broker. The internet has thousands of related articles on this subject. Click on our F.S.B.O. button in the sidebar.

Geno Petro

Should I put an alarm system in my home if I am thinking of selling in a year?
Tom, from Lincoln Park

The only way to offset the cost of installing an alarm system is usually by signing a lengthy contract for the monitoring service which typically runs between $30-$50 per month. I’d avoid installing one due to the fact that you will be moving in a relatively short period of time and it doesn’t add any significant value to the property. If push comes to shove, and a potential buyer demands one be installed, I would negotiate a credit to be given to the buyer at closing. This way the buyer can have control of what type of system as well as thier choice of who they want to monitor it.

Gus Vlangos

How can I find out more about the schools that are close to the property I plan on purchasing?
Samantha, from Oak Park

Before purchasing a home in Chicago, it is important for families with children, or those planning to have children to research the local schools. Chicago is home to a number of excellent public, as well as private schools located throughout the city. One way of finding out about the schools is to speak with neighbors that have children attending schools in the area. Another is to view the Chicago Home Estates resources page. Overall, educational planning usually plays an important role in determining where a family moves, and therefore it may be the deciding factor between one neighborhood and another.

Christine Clark

Can you list a property for sale without putting up a sign outside?
Janice

The answer is yes, you can. Actually there are several communities that do not allow signs for ‘aesthetic’ reasons–Oak Park is one that comes to mind. And until recently, my condo association did not allow them. Needless to say, I pushed to have that changed. If a sign is posted however, and the property is listed with a Realtor, then the name and other pertinent relevant of the Brokerage must be displayed.

Geno Petro

How do I find and choose a real estate agent?
Rob, from Forest Park

Like any industry, there are good agents and there are the not so good agents. The obvious aside: licensed, access to industry information… (Read More…)

Ryan Wallenfang

Is my home ready for sale?
Ryan, from Ukrainian Village

Does your home show well? Many sellers ask me, “What can I do to make my place sell fast?”

Here are a few tips: (Read More…)

Julie Varones

In our continuing effort to bring you first hand accounts of Chicago’s neighborhoods, I will introduce you to the Bowmanville neighborhood located in the Lincoln Square area. A long-time, but little known by name “sub-neighborhood” of Lincoln Square, Bowmanville has emerged on as a destination for high qualtitly living spaces and surprising proximity to amenities. (Read More…)

Who transfers the utility accounts into the new buyers name?
Jennifer, from Lincoln Park

After purchasing a property, but before moving in, the buyer should research the local utility companies and sign up for new service at the new location, or transfer old service to their new address. The seller will transfer the utilities at the property out of his name, so it should be easy for the buyer to have them put in his or her name before moving in. We provide a list of local utility companies and contact information to make the transition easier for new buyers.

Christine Clark