Archive for August, 2015
It’s ok to live in Skokie
August 29th, 2015 categories: Audio/Video, For Buyers
It’s ok to live in Skokie
Make 5233 Arcadia Your Next Home
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2705 Gross Point is the Perfect House to Rehab in Evanston., Il
August 26th, 2015 categories: For Buyers, Investing in Real Estate
Why is 2705 Gross Point the perfect home to rehab?
Send me an email for list of homes that meet criteria for rehab.
Finding the right house to rehab can be challenging because many times we just do not know how to find homes that meet the perfect criteria for rehab.
Follow these steps for finding a perfect home to rehab:
- Decide on area first and neighborhood second
- Research the neighborhood and learn about home values.
- Get list of homes for sale that are undervalued for the area.
- Look at Exterior of House and Make Appointments to see interior condition.
- Verify Zoning and Lot Size
- Develope budget include soft costs and hard costs
- Develope a realistic return on investment (ROI) on After Repair Value (ARV)
Why 2705 Goss Point in Evanston is the perfect home to Rehab.
2705 Gross Point is located in Northwest Evanston which has a mix of homes whose average price range is between $500,000-700,000. This house is currently listed for sale at $334,000 for basically land value . The house is 700 SF and is on a 46 x 136 lot and the footprint of the house could be expanded another 2,000 SF not including the basement.
At a cost of $150 per SF the addition would cost $300,000 along with land the total project would cost $634,000 which is in range of average homes for the area.
Please call me at 708-309-5334 for more information on this home or email me at jacklewitz@sbcglobal.ner for list of similar homes .
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Cozy Cape Cod House in Skokie, Il 60077
August 26th, 2015 categories: For Buyers
5322 Arcadia Street, Skokie IL 60077
Price: $310,000
MLS Number: 09020095
Bedrooms: 3
Bathrooms: 1.5
Square Ft: 2289
Call Jack Lewitz at 708-309-5334 to see if this property is still available and arrange a showing.
You will love sitting in the Living Room on a cold chilly night watching the fireplace logs
Certain homes have character and style and so does this Cape Cod Style house in Skokie. For the discrimnating buyer this house has a New Roof, New Siding, and Furnace. 2 year old hot water heater, 200 Amp Electric, Internet Cabling and Energy Efficient Nest Thermostat. Large Family Room with sliding glass door to large back yard.
Make an appointment today! Call 708-309-5334 and ask for Jack or email JackLewitz@sbcglobal.net
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Another Bonehead Ideas from Fannie Mae
August 3rd, 2015 categories: Bank Owned, For Buyers, Just "My" Opinion
Fannie Mae has a new bonehead idea of how to help 74 million US home owners who are upside down with their Mortgage.
According to Realty Track the majority of these homeowners are still making payments on their loan and now would qualify to purchase a new home while renting the home that is still upside down.
So think about it folks. You have someone who has never missed a house payment but is struggling to keep the home. Is it wise to rent this home to someone else and buy a new home.
It seems to me you are compounding the problem, Sure you can rent the house and use the income to help qualify you for new house but what happens when your tenant stops paying you rent.
What happens when you need to make repairs on both houses at the same time.
What happens when you owe Real Estate Taxes or Insurance and you have a deficient amount escrowed to cover these expenses.
What happens when you run out of reserves
Answer: YOU GET TWO HOMES UPSIDE DOWN. WAY TO GO FANNIE MAE.
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Berger Park History and the Chicago Lake Shore
August 1st, 2015 categories: For Buyers, Local Markets
Berger Park Cultural Center
The Downey Mansion built in 1906 at a cost of $20,000 was designed by Architect W.C Zimmerman and is a perfect example of a Prairie Style home.
The Downey’s who came for Ireland in 1856 and was on the Board of Education and Work for Public Works lived in the mansion until 1934. Upon Mrs. Downey’s death in 1934 the house was donated to the Clerics St Viator in 1944.
The property consists of 3.5 acres and fell to hard times and in 1979 it was a proposed site for a high rise apartment building. The Edgewater Community Council and other residents in the community lobbied to prevent this from happening and the Chicago Park District purchased the property in 1981.
The acquisition of this property by Chicago Park District includes 450 feet of lakefront and includes the Downey Mansion and the Gunder Mansion along with 2 coach houses.
If you wish to visit Berger Park take the 151 or 147 Bus line on Sheridan Road and get off at Granville Street. The mansion address is 6205 and 6219 N Sheridan Road.
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