Bucktown and Wicker Park continue to be a destination for Chicagoans and tourists. We have an abundance of great shopping and dining locations – many of which are supporters of the Pipeline. We have great local businesses that provide us with every convenience – dry cleaner, car washes, pet services, small grocers and quick stops, lunch spots and shops to get the last items for a great night. Our choices seem to continue to grow and supporting our local businesses maintains our high quality of life and the desirability of our neighborhoods.
Showing posts with label seller. Show all posts
Showing posts with label seller. Show all posts
Wednesday, March 21, 2012
Wednesday, February 22, 2012
Location - Education access
Location, location, location - Part 2 – Education
From pre school to post graduate studies Bucktown and Wicker Park has the options and the opportunity to reach your goals. Our parents work with the locals schools to ensure the best quality education is available to their children. We have several great public schools to walk to and others that are available options. To find out more on the Chicago Public Schools for your address go to http://schoollocator.cps.k12.il.us/ Our neighborhoods have multiple private schools providing choices to parents and offer quality pre-school education and care. High Schools and Colleges are easily reached by the great transportation options we talked about last week. Our local demographics show many residents have post graduate degrees or are working towards higher education goals.
Thursday, January 26, 2012
Location - transportation +
The mantra in real estate has always been “location, location, location.”
In Wicker Park and Bucktown, we have several location strengths, beginning with our easy access to the Blue Line and hence to downtown and our airports. CTA buses are readily available, as are taxis. Metra schedules provide an easy link to the suburbs or Loop, and a favorite way to attend Ravinia concerts in the summer. Bicyclists enjoy the bike lanes on Damen and Milwaukee , as well as on Armitage. There’s new orange bike racks, too.
Those that drive have many ramps in which to enter and exit the Kennedy Expressway (I-90/94) and those in the know know that there’s some great side streets where you can usually avoid congestion, too. All of these location-related boons continue to make Bucktown and Wicker Park a desirable location in which to live, work, and play.
In Wicker Park and Bucktown, we have several location strengths, beginning with our easy access to the Blue Line and hence to downtown and our airports. CTA buses are readily available, as are taxis. Metra schedules provide an easy link to the suburbs or Loop, and a favorite way to attend Ravinia concerts in the summer. Bicyclists enjoy the bike lanes on Damen and Milwaukee , as well as on Armitage. There’s new orange bike racks, too.
Those that drive have many ramps in which to enter and exit the Kennedy Expressway (I-90/94) and those in the know know that there’s some great side streets where you can usually avoid congestion, too. All of these location-related boons continue to make Bucktown and Wicker Park a desirable location in which to live, work, and play.
Friday, September 30, 2011
Spaces - Real Estate Transaction - Mortgage Contigency
The mortgage contingency is often key to a successful transaction. This is provides that the buyer will obtain a mortgage for a set amount, down payment, rate and duration by a particular date. That date is usually the amount of time that the buyer and their bank has determined it will take to confirm all the details of their financing. The buyer, and their attorney, must notify the seller if the date cannot be met, and request an extension of this date. With no notice the contingency is waived. If the buyer cannot get the financing described, the seller can find a commitment for them, in a specified time frame. To show that they have the ability to meet this contingency, buyers provide letters of pre approval from their banks. To a seller the best offer does not have this contingency, and would be a cash offer.
Tuesday, September 27, 2011
Spaces - Real Estate Contingencies -part 2
The second frequent contingency is for attorney review time period. Offers to purchase are made on standardized forms and the details are worked out between the buyer and seller during their negotiations. Once both have signed and the contract is accepted by both parties, the contract is given to the attorneys for each side of the transaction. They have a specified time to review the contract, and the legal details of the property and to make any clarifications to the details that were worked out during negotiations or issues that arise from inspection or any other due diligence that is done on the behalf of their clients. The attorneys cannot change the price that was offered for the property, but they do negotiate credits for items found in inspection or in the legal description of the property or its title, as well as clarify and explain any condominium documents.
Monday, September 12, 2011
Spaces - Real estate transaction contingency 1
One of the common contingencies to an offer to purchase a property is for an inspection. This is generally done by a licensed inspector hired by the buyer to take a more detailed look at the property. The inspector spends time testing the mechanical aspects of the property and looking for any safety or heath defects that should be addressed before changing ownership of the property.
Sunday, May 22, 2011
Chicago Resources Available OnLine
Some of the questions that buyers ask while looking at new homes are never answered by the REALTOR® because to respond would be in violation of the Fair Housing Act. Questions like - How safe is this neighborhood? Or Who else lives in this building? REALTOR® must provide equal professional service without regard to the race, color, religion, sex, handicap, familial status, national origin or sexual orientation of any prospective client, customer, or of the residents of any community. REALTOR® may not encourage any group into or away from any property.
Chicago School Data is available at http://schoollocator.cps.k12.il.us/
Chicago Crime Data is available to you at the Chicago Police Department website. Here is the link to the ClearMap for Bucktown http://gis.chicagopolice.org/website/ClearMap/viewer.htm?POLICEDIST=014 It's very easy to go to any area of the city and great information for residents.
Wednesday, April 13, 2011
Common Contigencies to a Purchase Contract
Spaces April 11, 2011
The offer was accepted - now what?
After the buyer and the seller have come to an agreement on the price and the terms of the home sale, it's time to work on meeting all the contingencies.
Inspection - In most sales, the buyer has a few days to bring in any inspector or other Licensed persons to examine the property and identify any health or safety defects. These are items that are not obvious to the buyer or seller. An example might be that the inspector looks at the basement sink drain and finds a leak. The buyer might ask the seller to have the pipe repaired or pay for the buyer to have it done at a later time.
Attorney Review - Both buyer and seller will have their attorneys look at the terms of the purchase agreement and the attorneys will come to agreement on any terms. This review is usually as long as the inspection period (or a few days longer) and the attorneys will confirm any responses to the inspection items.
Mortgage - Generally the last completed contingency, since the details of confirming the mortgage funding are the most time consuming. The purchase agreement includes a date by which the buyer and their lender must be able to agree that funding is available for this buyer and this property. The agreement also provides some limits for the loan rate and duration. (This is why it’s so important for buyers to be pre-approved!)
Condo Documents - The Condo Declarations and Bylaws, Rules and Regulations, Budget (current and previous year), Minutes and a 22.1 form will all need to be provided to the buyer for their review, and the attorney. Most are required during the attorney review period. They are also needed by the buyer’s lender who will confirm the financial stability of the condo association before authorizing a loan.
Other contingencies could be the sale of a previous home, pet rules, leases, or other items that both buyer and seller agreed to during negotiations and included in the Purchase Agreement.
In Bucktown/Wicker Park this week, there were six closings! Of the six, four were detached single family homes, and two were attached homes. They are as follows.
1850 N Wilmot, 4 bedroom, 3bath, Rowhome, private yard, garage, $595,000
1880 N Hoyne, 5bedroom, 3 bath +2 ½ baths, Contemporary renovation, attached garage, $1,624,625
1627 N Wolcott, 4bedroom, 4 ½ bath, 4+ Stories ultra modern new construction , $1,950,0001804 N Leavitt, 5 bedroom, 4 ½ bath, Modern open conversion of warehouse space, $2,770,000
1524 N Leavitt #1, 4 bedroom, 3bath, 2 garage spots, Duplex Condo, $399,000
1767 N Hoyne #L, 3 bedroom, 2 ½ bath, updated Townhouse Condo, Attached 2 car Garage, $575,000
*** Information sourced from MREDLLC;4/11/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)
Do you have a topic you'd like to see explored or a real estate question? Send it in. If you'd like more information on properties currently on the market or selling your home just drop me a note.
The offer was accepted - now what?
After the buyer and the seller have come to an agreement on the price and the terms of the home sale, it's time to work on meeting all the contingencies.
Inspection - In most sales, the buyer has a few days to bring in any inspector or other Licensed persons to examine the property and identify any health or safety defects. These are items that are not obvious to the buyer or seller. An example might be that the inspector looks at the basement sink drain and finds a leak. The buyer might ask the seller to have the pipe repaired or pay for the buyer to have it done at a later time.
Attorney Review - Both buyer and seller will have their attorneys look at the terms of the purchase agreement and the attorneys will come to agreement on any terms. This review is usually as long as the inspection period (or a few days longer) and the attorneys will confirm any responses to the inspection items.
Mortgage - Generally the last completed contingency, since the details of confirming the mortgage funding are the most time consuming. The purchase agreement includes a date by which the buyer and their lender must be able to agree that funding is available for this buyer and this property. The agreement also provides some limits for the loan rate and duration. (This is why it’s so important for buyers to be pre-approved!)
Condo Documents - The Condo Declarations and Bylaws, Rules and Regulations, Budget (current and previous year), Minutes and a 22.1 form will all need to be provided to the buyer for their review, and the attorney. Most are required during the attorney review period. They are also needed by the buyer’s lender who will confirm the financial stability of the condo association before authorizing a loan.
Other contingencies could be the sale of a previous home, pet rules, leases, or other items that both buyer and seller agreed to during negotiations and included in the Purchase Agreement.
In Bucktown/Wicker Park this week, there were six closings! Of the six, four were detached single family homes, and two were attached homes. They are as follows.
1850 N Wilmot, 4 bedroom, 3bath, Rowhome, private yard, garage, $595,000
1880 N Hoyne, 5bedroom, 3 bath +2 ½ baths, Contemporary renovation, attached garage, $1,624,625
1627 N Wolcott, 4bedroom, 4 ½ bath, 4+ Stories ultra modern new construction , $1,950,0001804 N Leavitt, 5 bedroom, 4 ½ bath, Modern open conversion of warehouse space, $2,770,000
1524 N Leavitt #1, 4 bedroom, 3bath, 2 garage spots, Duplex Condo, $399,000
1767 N Hoyne #L, 3 bedroom, 2 ½ bath, updated Townhouse Condo, Attached 2 car Garage, $575,000
*** Information sourced from MREDLLC;4/11/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)
Do you have a topic you'd like to see explored or a real estate question? Send it in. If you'd like more information on properties currently on the market or selling your home just drop me a note.
Friday, March 18, 2011
Spring Cleaning Ideas
Quick Green Spring Cleaning Ideas
It’s too early to do much outdoors here in Chicago, which leaves us working inside with the sun shining on us. Here’s a few ideas!
1. Open the windows. The best way to get dirty air moving out and fresh air moving in is to open the doors and windows. Feel the breeze.
2. Skip the air fresheners. Buy fresh flowers! An open box of baking soda, cedar blocks, or dried flowers also add natural fragrance to the room.
3. Use vegetable-based cleaning products like those made with coconut oil. Many detergents are made from petrochemicals, just like expensive gas.
4. Nature’s cleaning miracle, vinegar can be used to clean just about anything. Use it straight to clean kitchen floors or wash windows, mix it with baking soda and essential oils to clean sinks and more.
5. Recycle what you are not using. Donate first. Then take items that don’t belong in our Blue or Black Carts to the City of Chicago site at 1150 North Branch Street for disposal of these items --- use the link here http://www.cityofchicago.org/city/en/depts/doe/supp_info/household_chemicalscomputerrecyclingfacilityoverview.html
Bucktown/Wicker Park closings this week: 2 Detached single family homes and 5 Attached homes –
1510 N Wood 3 bedroom 3 bath renovated house $640,000
2012 N Hoyne 4 bedroom 3 ½ bath house $708,000
2039 W Webster 3 bedroom 2 ½ bath end unit townhouse w/garage $375,000
2031 W Pierce #1A 2 bedroom 2 ½ bath duplex down condo with garage spot $385,000
2308 W North #3W 3 bedroom 2 bath condo with garage spot $388,500
1750 N Wolcott #203 2 bedroom 2 bath loft condo w/garage spot $425,000
1919 W Crystal #102 3 bedroom 2 bath duplex w/garage spot Bank Owned $534,000
*** Information sourced from MREDLLC;3/13/11. Attached Property and Detached Property residential Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)
Have a topic you’d like to see explored or a real estate question send it in.
If you’d like more information on properties currently on the market or selling your home just drop me a note at EvaB@atproperties.com
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