Archive for the ‘Investing in North Shore Real Estate’ Category
Great value for a 2 bedroom updated condo just south of Old Town in the Gold Coast. Currently priced at $229,000, the recent kitchen renovation includes new cabinets, appliances and granite countertops. The removal of a kitchen wall was inspired by the homeowner’s desire for an open floor plan and that was wonderfully accomplished. The living area features a tiled woodburning fireplace and new laminate wood flooring. The bathroom was tastefully renovated to include neutral tile, a new vanity and sink, and a free standing glass door. Both bedrooms have been recarpeted in the past month and tasteful lighting has been added to the main living area. It is located close to retail, transportation, and Lake Michigan. The “New Orleans” inspired courtyard is in full bloom during the summer and is used as a building retreat to wine and dine. Attached garage parking is available for only $150 per month. Check out the photos and floor plan at: http://www.seetheproperty.com/presentation/panorama.php?Branded=0&order_id=57228
Foreclosures in Chicago and North Shore on the Rise
Foreclosure filings continued on their record pace in the 4th quarter of 2009*. The general belief in the local real estate industry is that Chicago and North Shore suburbs will experience more foreclosures in 2010 than in 2009. At least, there will be more foreclosures that are actively marketed in 2010 than 2009.
What is the silver lining? This is a great time to invest in distressed properties! A buyer must be selective in the process and find a property that works within their personal budget and provides positive cash flow. Generally speaking, if a buyer/investor is willing to put a little work into rehabbing and managing a property, then there are ample opportunities for cash flow positive investments.
Please contact me with any foreclosure questions in Chicago and North Shore.
*Chicago Tribune Article- Foreclosures Soar in 4th Quarter
Why Buy Real Estate Now on Chicago’s North Shore
This market presents great opportunities for buyers. Any great investor will tell you do the opposite of what the masses do and you will make money. So you are thinking about buying a home but this market is a little scary. Here are a few things to think about.
5 Factors to Consider
- Prices are still well off there highs
- Interest rates are near there historic lows
- Selection is fabulous
- There is less competition for prime properties
- The Chicago North Shore and its suburbs are a very desirable place to live
For the next several months the outstanding tax incentives available make buying even a better deal. Real estate has historically appreciated and has always bounced back from dips in the past.
So taking action in this market makes sense. You have a rare opportunity to buy low.
