What to Know Before Buying a Condo

Chicago Real Estate Podcast with Vergis Eiland

Chicago Real Estate Podcast with Vergis Eiland

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Lisätty nine vuotta sitten

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28:30

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6 vuotta sitten

MP4•Jakson koti

If you’re thinking of buying a condo, there are six things you need to know first.

Looking to buy a Chicago home? Get a Full Home Search

Selling your Chicago home? Get a Free Home Price Evaluation

Did you know that between the South Loop, Downtown, Gold Coast, and the West Loop, there are almost 2,400 condos for sale? Before you buy one of these condos, here are six things you need to know:

1. How the condo association is being run. For example, who’s the president? Who’s the vice president? Who’s the treasurer?

2. How the condo association’s budget looks. It might look like it’s being run well, but you should ask to see a copy of the budget and its records for the past two years. You need to make sure they’re putting enough money away for reserves (normally, 10% of the budget should be cash reserves). If they don’t have enough, you have to pay a special assessment, which can be very expensive.

3. What the delinquency rate is. How many of the owners are behind on their dues? How many of the condos have foreclosed? Hopefully that number is close to zero.

To make sure the building is insured, you can ask for a copy of its insurance certificate.

”

4. Whether the building is insured or not. To make sure the building is insured, you can ask for a copy of its insurance certificate.

5. Whether there are a lot of absentee owners in the building. How many renters live in the building versus actual owners?

6. Whether there are any lawsuits against the condo association.

If you have any other questions about this topic, don’t hesitate to call or email us anytime. We’d be glad to help you.

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#Real #Estate #Top #Local #Find #Chicago #Home #Selling #Tips #Process #Property #Search #Propert #Vergis Eiland #Video #Podcasting Education #Sales #Agent #House #Buy #Finders

Chicago Real Estate Podcast with Vergis Eiland

What to Know Before Buying a Condo

Chicago Real Estate Podcast with Vergis Eiland

published 6 vuotta sitten

Jaa

MP4•Jakson koti

If you’re thinking of buying a condo, there are six things you need to know first.

Looking to buy a Chicago home? Get a Full Home Search

Selling your Chicago home? Get a Free Home Price Evaluation

To make sure the building is insured, you can ask for a copy of its insurance certificate.

”

13 jaksoa

#Real #Estate #Top #Local #Find #Chicago #Home #Selling #Tips #Process #Property #Search #Propert #Vergis Eiland #Video #Podcasting Education #Sales #Agent #House #Buy #Finders

Kaikki jaksot

Chicago Real Estate Podcast with Vergis Eiland

1
Check Out Logan Square

6 years sitten

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Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation Located on the northwest side of Chicago, about 6.5 miles away from Downtown, Logan Square is a fantastic area characterized by prominent boulevards, large-scale bungalows, and great restaurants. Because of these, and many other fantastic amenities, Logan Square is a great alternative to more expensive areas, such as Lincoln Park and the North Shore. And, in addition to the many entertainment opportunities Logan Square has to offer, the area also boasts a number of churches, schools, and parks. I’d be happy to speak with you more about this wonderful, family-friendly area if you’d like to find out what else it has to offer. As always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.…

Chicago Real Estate Podcast with Vergis Eiland

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Check Out This Great Logan Square Listing

6 years sitten

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Today we’d like to give you a glimpse into a great Logan Square listing: 1828 N. Monticello Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation Allow me to introduce you to a great new listing in Logan Square: 1828 N. Monticello. This newly rehabbed 4-bed, 3-bath home is the perfect blend of aesthetics and function. With beautiful shaker cabinets and stainless steel appliances in the kitchen and hardwood floors throughout, this listing is sure to impress. It also boasts plenty of space, as evidenced by the home’s 2.5-car garage, and is nestled in a great neighborhood. Truly, this house could be your dream home. As always, if you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.…

Chicago Real Estate Podcast with Vergis Eiland

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Real Estate and Mortgage Snapshots for 2019

6 years sitten

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Interest rates, sales numbers, and more. Here’s what to keep an eye out for in 2019. Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation Today we'd like to share with you our 2019 forecast for both the real estate and mortgage markets. In the coming year, the average sale price will likely rise by 1% at most. This is typical of a normal market. In the mortgage world, things are a little different. In the fourth quarter, rates jumped up a bit, but they’ve gone down since. The Fed recently came out and said that they’d be more conscientious when raising rates in the future.Though rates may go up slightly this year, they should remain at an affordable level for the time being. While inventory is going to go up, interest rates are staying flat. This equals a great opportunity for homebuyers. If you have any questions for us about our market forecast, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.…

Chicago Real Estate Podcast with Vergis Eiland

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This 4-Bed, 4-Bath Lakeview Condo Is Available for Purchase

6 years sitten

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Today we'll be discussing a fantastic Lakeview listing that is currently still available for purchase. Check it out! Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation We’re coming to you today from a new listing here in the Lakeview Community located at 904 West Fletcher Street. This beautiful 4-bedroom, 4-bathroom duplex has 2,400 square feet of space. The garage has a heated parking space, and the surround-sound system is updated throughout the property. Built in 2005, this property is located approximately 10 minutes from Lincoln Park Zoo, Wrigley Field, Target, Walgreens, and Vic Theatre, and is 15 minutes away from downtown. In this neighborhood, you’ll need the jumbo loan product—in most cases, but not all. For this particular property, you can get in at 5% down all the way up to $1.5 million. Unconventionally, loanDepot offers a 30-year fixed rate; most of the time, loans for this type of property are the 5-year adjustable-rate mortgages (ARMS) or 7-year ARMS. This is a great deal. Built in 2005, this property is located approximately 10 minutes from Lincoln Park Zoo, Wrigley Field, Target, Walgreens, and Vic Theatre, and is 15 minutes away from downtown. ” It’s also worth noting that Fannie Mae has increased their loan limits for 2019—the maximum conforming loan amount is $480,000. If you have any financing questions, you can contact David Bowen at (708) 705-7911 or at DBowen@LoanDepot.com. More details about the property can be viewed on this PDF document . If you’re interested in purchasing this property and would like to discuss pricing or would like to see it in person, reach out to me.…

Chicago Real Estate Podcast with Vergis Eiland

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Learn About Another Great Chicagoland Community

6 years sitten

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Lakeview is one of the most walkable communities in Chicagoland, and I want to tell you more about it. Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation Today I want to tell you about another wonderful Chicagoland community: Lakeview. Some would call it one of the most walkable communities in Chicago. No matter where you’re at, it seems you’re always close to shopping centers and boutiques. As an added bonus, you’re just 10 minutes from Wrigley Field, and depending on where you’re at, you might also be within walking distance to the Lincoln Park Zoo. You’ll find plenty of great subcommunities within Lakeview, including East Lakeview, West Lakeview, Boystown, Wrigleyville, and Southport Corridor—one of the hottest in all of Chicago.…

Chicago Real Estate Podcast with Vergis Eiland

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What Does This Bronzeville Home Have to Offer?

6 years sitten

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Check out this home listing in the Bronzeville community. Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation Today we’d like to take a moment to tell you about one of our Bronzeville listings. Given that Bronzeville is one of Chicago’s hottest communities, the first benefit this property boasts is its location. But this is far from being all this 4-bed, 3.5-bath home has to offer. Local homebuyers should not let this opportunity slip by. ” Coming in at 2,700 square feet, the property’s floor plan is designed with space in mind. The home comes with a finished basement, two fireplaces, a two-story family room, and a three-car garage—a rarity in Chicago. All in all, local homebuyers should not let this opportunity slip by. But whether for this home or for another in our area, the matter of financing is also paramount. After all, connecting with a lender is the first step any buyer should take before embarking on their search. And given that conforming loan limits have recently been increased, now is a better time than ever to meet with a mortgage professional to discuss your options. If you have any other questions or would like more information about this amazing Bronzeville property, feel free to give us a call or send us an email. We look forward to hearing from you soon.…

Chicago Real Estate Podcast with Vergis Eiland

1
Looking for a New Home? Check Out All That Historic Bronzeville Has to Offer

6 years sitten

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We’d like to welcome you to the Bronzeville community. Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation We’re standing here today in one of my listings in the Bronzeville community, which starts as far north as 26th Street and extends south as far as 48th Street. Bronzeville consists of the Douglas community as well as Grand Boulevard. There is a lot of elegance and history behind Bronzeville. For example, jazz musicians and famous music producers like Quincy Jones grew up here. That’s not to mention the location: Bronzeville is essentially smack-dab in the center between Lakeshore Drive and Guaranteed Rate Field , which is right off 35th Street on the other side of the Dan Ryan Expressway (not even a mile from here). It only takes about 15 minutes to get to the Downtown area, and the public transportation makes it very easy to get into the city of Chicago. There is a lot of elegance and history behind Bronzeville. ” There is a ton of new construction in the area, as well as residential and commercial properties. You’ll find plenty of great schools, restaurants, and shopping districts in the area— you just can’t beat the placement of this amazing community. Bronzeville is a great alternative for buyers from the northside or the loop area looking for a little more space for their families. The community has gone through a lot of changes over the years, and right now, it is booming. Home values are getting better and better each and every year, and it’s easy to find great opportunities here. If you have any additional questions or are looking to buy or sell a home in Bronzeville, please reach out to us. We’d love to help you take the next step toward your real estate goals.…

Chicago Real Estate Podcast with Vergis Eiland

1
Happy Holidays From Our Team to You

6 years sitten

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Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation Today we want to wish you the happiest of holidays, and to say thank you. It’s been another great year, thanks to our clients, family, and friends. Over 50% of our business is coming from loyal, supportive people like you and your referrals to us. We couldn’t do this without you. If you have any questions over the holidays, feel free to give us a call. We’d be happy to help you. Until then, have a wonderful holiday season.…

Chicago Real Estate Podcast with Vergis Eiland

1
What to Know Before Buying a Condo

6 years sitten

—

If you’re thinking of buying a condo, there are six things you need to know first. Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation Did you know that between the South Loop, Downtown, Gold Coast, and the West Loop, there are almost 2,400 condos for sale? Before you buy one of these condos, here are six things you need to know: 1. How the condo association is being run. For example, who’s the president? Who’s the vice president? Who’s the treasurer? 2. How the condo association’s budget looks. It might look like it’s being run well, but you should ask to see a copy of the budget and its records for the past two years. You need to make sure they’re putting enough money away for reserves (normally, 10% of the budget should be cash reserves). If they don’t have enough, you have to pay a special assessment, which can be very expensive. 3. What the delinquency rate is. How many of the owners are behind on their dues? How many of the condos have foreclosed? Hopefully that number is close to zero. To make sure the building is insured, you can ask for a copy of its insurance certificate. ” 4. Whether the building is insured or not. To make sure the building is insured, you can ask for a copy of its insurance certificate. 5. Whether there are a lot of absentee owners in the building. How many renters live in the building versus actual owners? 6. Whether there are any lawsuits against the condo association. If you have any other questions about this topic, don’t hesitate to call or email us anytime. We’d be glad to help you.…

Chicago Real Estate Podcast with Vergis Eiland

1
A Quick Look at What the Gold Coast Has to Offer

6 years sitten

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What does the Gold Coast have to offer? Let’s find out. Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation The Gold Coast community is absolutely beautiful, and we wanted to share a little information about it with all of you today. Between the Oak Street Beach, the many area restaurants, and the plethora of entertainment opportunities, the Gold Coast has a lot to offer. There’s something for everyone here on the Gold Coast. ” Even the market statistics for this area reflect its incredible growth. Though sales volume is down, the average sales price has risen 7% since this time last year. And with units available for purchase from $500,000 all the way up to $5.3 million, it’s clear to see that there’s something for everyone here on the Gold Coast. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.…

Chicago Real Estate Podcast with Vergis Eiland

1
The Effect of Rising Interest Rates on the Market

7 years sitten

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Interest rates rose again. How will this affect our market? Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation On September 26 i nterest rates went up again —t his time by 0.25%. This time by a quarter of a percent. Today we will be discussing how this recent rate change will affect the real estate market. David says that he doesn't think it will have much of an impact, because this change comes as no surprise. Since so many people saw this coming, he believes that it was already worked into the mortgage market in terms of rates. However, we may still see a slight fluctuation. If the Fed does something surprising, though, then we'll see a change. “ The rising interest rates won't affect the market because it isn't a surprise. ” Rates, of course, do affect other things, such as credit cards, instantly. They also affect car loans. So, over the long-term, the rising cost of credit could affect the mortgage market. We still do expect one more rate increase this year in either November or December. If you have any questions about this, please feel free to reach out to us. We would be happy to help.…

Chicago Real Estate Podcast with Vergis Eiland

1
Why Might You Be Rejected From Getting a Mortgage?

7 years sitten

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W ere you recently rejected from getting a mortgage and are unsure why? Today we have four possible reasons why. Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation Why would a buyer not be able to secure a mortgage? There are a few issues which may pop up, so today we will be discussing the top four reasons this can happen. 1. Work status changes. If an employee changes from W-2 status to a 1099 contractor status, this can cause issues. Many companies are doing this to reduce their bottom line so that they don’t have to pay benefits. This status change means the borrower is still getting the same amount of money, but now have to pay their own taxes, as they have technically become self-employed. 2. Bounced checks. A lot of people don’t seem to think that this is an issue, but it is a sign of financial irresponsibility. “ If you go behind on a small bill, it can really push your credit score down. ” 3. Opening a new credit account. If a buyer does this in the middle of the loan process, it could cause a problem in qualifying for the mortgage. 4. Current credit. Many people have store cards with low balances, and they think this makes payments on those cards unimportant. However, this is not true. Paying off these lines of credit is extremely important. If you go behind on a small bill, it can really push your credit score down. These are the top four reasons that you may be unable to get a mortgage. If you have any further questions about this, please feel free to reach out to us. We look forward to speaking with you soon.…

Chicago Real Estate Podcast with Vergis Eiland

1
Is Airbnb a Good Platform for Real Estate Investors?

7 years sitten

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What is happening with the interest rates? You can find out today because we have the mid-spring real estate update for the Chicago area. Looking to buy a Chicago home? Get a Full Home Search Selling your Chicago home? Get a Free Home Price Evaluation As a real estate professional, it’s important for me to always stay on top of the latest news from our industry, and one of the hot topics I keep hearing about lately is a company called Airbnb. Airbnb is an online platform that allows those who own property to rent it out to travelers. With all the ongoing discussion surrounding this platform, there are obviously positive and negative points being brought up. Let’s start by looking at a few of the positives. First of all, the platform allows you to supplement your income. I’ve personally got one client who has used it to pay off his mortgage, and another who also makes a large sum of money each month through the platform. Additionally, local businesses also receive an infusion of cash when people stay at short-term rental properties through Airbnb. Beyond serving as a source of income, Airbnb also allows investors to meet new people from all over the country—even the world. “ And beyond serving as a source of income, Airbnb also allows investors to meet new people from all over the country—even the world. ” Of course, there are arguments against Airbnb. One of the negative aspects people point out is the claim that it hurts a pricing housing market. People also claim that short-term rental platforms like Airbnb take business away from long-term rental inventory. So if you’re thinking of running an investment property through Airbnb, be sure to keep all of these pros and cons in mind. Also, make sure you consider the tax implications. Running an Airbnb could help you supplement your income, but it’s certainly not a decision to take lightly. You must be comfortable sharing your home with strangers, handling the check-in and check-out process, and taking care of other managerial duties. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.…

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