property search: What is the best property search on the Internet? - 10/04/11 11:01 AM
The most advanced Internet search available is called connectMLS, a system that easily beats Realtor.com or other public searches. After you read this sheet, we think you’ll agree: public search engines may be useful for picking neighborhoods, but they can’t hold a candle to connectMLS when it comes to picking actual property. How do you get a connectMLS search? Just ask us! We’ll be happy to set one up for you.
 
The public search sheet (above) only has general remarks and basic room sizes.
The connectMLS sheet (below), on the other hand, has everything you’ll find on the public … (0 comments)

property search: How to Buy a Great House: Neighborhood Factors for Condos and Town Homes - 09/27/11 11:24 AM
There are many factors to consider when selecting a neighborhood that is right for you.  In these posts, we will list just a few of the many factors -- you may think of others that are important to you. 
Look for things like access to major highways, public transportation, and shopping.  Listen for the kind of amenities you desire (restaurants, stores, etc.).  Parking may be an issue – unless you are buying a unit that comes with it.  
And this is just the start of what you’ll find at www.Chicagoland2to4Flats.info!!!
… (1 comments)

property search: How to Buy a Great House: Neighborhood Factors for Single-Family Homes - 09/26/11 01:06 PM
There are many factors to consider when selecting a neighborhood that is right for you.  In these posts, we will list just a few of the many factors -- you may think of others that are important to you. 
·         Look for things like access to major thoroughfares, highways, and shopping. 
·         Listen for noise created by commerce, roads, railways, public areas, schools, etc. 
·         Smell the air for adjacent commerce or agriculture. 
·         Check with local civic, police, fire, and school officials to find information about the area. 
·         Research things like soil and water.  … (0 comments)

property search: How to Buy a Great House – Scouting Neighborhoods - 09/20/11 10:56 AM
There are many factors to consider when selecting a neighborhood that is right for you.  In these posts, we will list just a few of the many factors -- you may think of others that are important to you.  Different neighborhoods have characteristic personalities designed to best suit single people, growing families, two-career couples, or retirees.
SCOUT THE NEIGHBORHOOD!
It is important that you scout the neighborhood in person.  You live in more than your house. 
§  Talk to people who live there. 
§  Drive through the entire area at different times of the day, during the week and … (1 comments)

property search: Deciphering the Listing Sheet: All That Glitters Is Not Gold – Single Family Homes - 09/12/11 11:13 AM
What to watch for with single-family homes::
In general, be aware that it is very easy to make a home sound good on paper—we always recommend drive-by’s before setting up any showings!!!
Our agents will be able to help you see how each neighborhood breaks on the price points—cheaper property may typically need more than 50K of work!!!.
And this is just the start of what you’ll find at www.Chicagoland2to4Flats.info!!!
… (0 comments)

property search: Deciphering the Listing Sheet: All That Glitters Is Not Gold – 2- to 4- Flats - 09/09/11 05:51 AM
What to Watch For, with 2- to 4-flats:
In general, be aware that it is very easy to make a multi-unit building sound good on paper—we always recommend drive-by’s before setting up showings!!! 
Secondly, watch for estimates of rent; (if there is no lease date or security deposit listed, any rent listed is probably just an estimate).
Finally, be sure to watch out for illegal units (e.g., 3 units described on a 2-flat listing sheet); you may still want to buy it but should have your eyes wide open.
 
And this is just the start of what you’ll … (0 comments)

property search: Deciphering the Listing Sheet: All That Glitters Is Not Gold – Condos - 09/06/11 11:35 AM
What to Watch For, with condos:
A gut-rehab should mean that everything is new, including the kitchen and bath. Walls and room sizes may have been adjusted to allow for a second bath, in-unit laundry, new heat/AC, etc. The price may be higher, but—theoretically—everything from the mechanicals to the finishes is brand new and wonderful.
A mid-level conversion describes a project where some amount of updating did occur but less than a full gut rehab. Mid-level conversions are lower in price and often have a VINTAGE look— perhaps ideal if on a tight budget and in the property inspection we can … (0 comments)

property search: Deciphering the Listing Sheet: All That Glitters Is Not Gold – All Properties - 09/02/11 07:45 AM
We’ll set you up with all listings that fit your price, size and neighborhood goals—and ask you to pick which properties to go visit. But therein lies a dilemma… how will you know which ones to prioritize on? It’s important to understand both what the listing sheets DO say and DON’T say in order to take, say, 50 listings down to perhaps 20 to drive by and then the 10-12 best to see.
What to Watch For, with all properties:
1.  You’ll see the terms: ‘new’, ‘newer’, and ‘updated’? What’s the difference? ‘Newer’ and ‘updated’ are NOT new! A newer … (0 comments)

property search: Five Principles In Picking Listings To See - 08/30/11 08:15 AM
1.  The FIRST law in real estate: Big and cheap NEVER equals wonderful. Many people, when they first start picking property to see, focus on properties that are big and cheap… They are hoping, of course, for big, cheap AND wonderful, but that is like winning the lottery—and never applies to properties that have been on the market for any length of time.
·         BIG, wonderful, and very expensive can be found anywhere.
·         SMALL, cheap and wonderful is another option to consider…
2.  The Barrel Rule: Rarely, if ever, does it make sense to scrape the bottom of the barrel … (0 comments)

property search: EFFECTIVE Property Searching – #6 Listings - 08/23/11 06:11 AM
In this market where listings range so much by type and condition, it is so easy to end up on a wild-goose chase. What must occur instead is to learn to separate wheat from the chaff and hone in on what you want.
Here is some more of how we think an EFFECTIVE property search works. 
Now you’re ready to go see listings. But, before you ask for any showings, your job is to rule out 80% of them.
·         If you know a neighborhood and the market extremely well, this stage can be completed at home. But, for … (0 comments)

property search: EFFECTIVE Property Searching – #5 Get Pre-Approved - 08/22/11 11:11 AM
In this market where listings range so much by type and condition, it is so easy to end up on a wild-goose chase. What must occur instead is to learn to separate wheat from the chaff and hone in on what you want.
Here is some more of how we think an EFFECTIVE property search works. 
Get Pre-Approved. We are pleased to have Guaranteed Rate, the Midwest's largest independent residential mortgage lender, as our lending partner. They have an expertise in the 2- to 4-flat market, a wide range of products, and an ability to help you intelligently pick … (0 comments)

property search: EFFECTIVE Property Searching – #4 Cash Flow Expectations - 08/18/11 12:13 PM
In this market where listings range so much by type and condition, it is so easy to end up on a wild-goose chase. What must occur instead is to learn to separate wheat from the chaff and hone in on what you want.
Here is some more of how we think an EFFECTIVE property search works. 
Establish Realistic Cash-Flow Expectations. Remember, unless you put a huge amount down, the PRE-TAX CASH FLOW is never large on a 2- to 4-flat. Probably the TAX SHELTER will please you more (your tax advisor can help you understand exactly what’s involved). But … (0 comments)

property search: EFFECTIVE Property Searching – #4 Cash Flow Expectations - 08/18/11 12:10 PM
In this market where listings range so much by type and condition, it is so easy to end up on a wild-goose chase. What must occur instead is to learn to separate wheat from the chaff and hone in on what you want.
Here is some more of how we think an EFFECTIVE property search works. 
Establish Realistic Cash-Flow Expectations. Remember, unless you put a huge amount down, the PRE-TAX CASH FLOW is never large on a 2- to 4-flat. Probably the TAX SHELTER will please you more (your tax advisor can help you understand exactly what’s involved). But … (0 comments)

property search: EFFECTIVE Property Searching – #3 Property Condition - 08/16/11 05:37 AM
In this market where listings range so much by type and condition, it is so easy to end up on a wild-goose chase. What must occur instead is to learn to separate wheat from the chaff and hone in on what you want.
Here is some more of how we think an EFFECTIVE property search works. 
We will also want to help you clarify and set a focus on property condition:
·         “LITTLE OR NO” WORK
·         “SOME” WORK NEEDED
·         “GUT REHAB” NEEDED
We say “Little or No” work, but – trust us – few 2- to 4-flats … (0 comments)

property search: EFFECTIVE Property Searching – #2 Listing Sheets - 08/12/11 12:49 PM
In this market where listings range so much by type and condition, it is so easy to end up on a wild-goose chase. What must occur instead is to learn to separate wheat from the chaff and hone in on what you want.
Here is some more of how we think an EFFECTIVE property search works. 
We will help you learn to intelligently read listing sheets. Here are some clues: 
What’s the difference between ‘new’, ‘newer’, and ‘updated’? ‘Newer’ and ‘updated’ are NOT new! A newer kitchen may be 7-10 years old! Rehabbed’ or ‘Gut rehab’ may be … (1 comments)

property search: EFFECTIVE Property Searching – #1 Neighborhoods - 08/09/11 03:51 PM
In this market where listings range so much by type and condition, it is so easy to end up on a wild-goose chase. What must occur instead is to learn to separate wheat from the chaff and hone in on what you want.
Here is some of how we think an EFFECTIVE property search works. 
First, analyze and compare all neighborhoods of interest.
Under Sales/Demographics at our website, we provide 10 years of price appreciation data and detailed maps of each of the 77 areas you can print. The “60% more detail” tab will let you register for … (1 comments)

property search: The Universal Four Laws of Real Estate - 07/21/11 03:33 AM
We think there are FOUR “Laws” of Real Estate that, if you have been looking for property for any length of time, your own experience probably confirms.
Law 1 of Real Estate: Big and cheap NEVER equals wonderful.
Many people, when they first start picking property to see, focus on properties that are big and cheap… They are hoping, of course, for big, cheap AND wonderful, but that is like winning the lottery—and never applies to properties that have been on the market for any length of time.
·         BIG, wonderful, and very expensive can be found quite easily.
·         SMALL, … (2 comments)

property search: What’s the best property search on the Internet? - 10/29/10 10:36 AM
The most advanced Internet search available is called connectMLS, a system that easily beats Realtor.com or other public searches. After you read this sheet, we think you'll agree: public search engines may be useful for picking neighborhoods, but they can't hold a candle to connectMLS when it comes to picking actual property. How do you get a connectMLS search? Just ask us! We'll be happy to set one up for you.
 
The public search sheet (above) only has general remarks and basic room sizes.
The connectMLS sheet (below), on the other hand, has everything you'll find on the public … (1 comments)

property search: How to Buy a Great House – Neighborhood Factors for Condos and Town Homes - 10/22/10 09:50 AM
There are many factors to consider when selecting a neighborhood that is right for you.  In these posts, we will list just a few of the many factors -- you may think of others that are important to you. 
Look for things like access to major highways, public transportation, and shopping.  Listen for the kind of amenities you desire (restaurants, stores, etc.).  Parking may be an issue - unless you are buying a unit that comes with it.  
And this is just the start of what you'll find at www.Chicagoland2to4Flats.info!!!
… (0 comments)

property search: How to Buy a Great House – Neighborhood Factors for Single-Family Homes - 10/21/10 12:49 PM
There are many factors to consider when selecting a neighborhood that is right for you.  In these posts, we will list just a few of the many factors -- you may think of others that are important to you. 
•·         Look for things like access to major thoroughfares, highways, and shopping. 
•·         Listen for noise created by commerce, roads, railways, public areas, schools, etc. 
•·         Smell the air for adjacent commerce or agriculture. 
•·         Check with local civic, police, fire, and school officials to find information about the area. 
•·         Research things like soil and water. 
•·         Look at traffic patterns … (0 comments)