Housing Information Needed

[nanannie]

You can buy a townhouse,walk to everything in the 200's in Elmhurst. I saw some on Fellows ct. It still is a sought after town so anything would be a good investment.

[gardener34]

Elmhurst is ridiculously expensive. Stay away unless you make the big bucks otherwise you will feel out of place there.
Lombard is better.

[nanannie]

Originally Posted by racerx69

You can buy a townhouse for 200's in Elmhurst?? Is that supposed to entice anyone? $200k for a townhouse is nuts. Townhouses should be in the low 100's hun. You have some issues if you think that's a good deal.

What can you buy in Elmhurst on a $30,000 per year salary? A 1br roach infested condo? Stay away from Elmhurst peeps. Not worth your time.

I am not trying to "entice" anyone-. The op mentioned Elmhurst and it IS a good investment. Many people on this forum would disagree with your comments,,and certainly your delightful way of posting

[nanannie]

Originally Posted by gardener34

Elmhurst is ridiculously expensive. Stay away unless you make the big bucks otherwise you will feel out of place there.
Lombard is better.

That will surprise many of the residents who live there

[dsv1496]

[quote=racerx69;1819659]Lombard is a shady area, again read the police blotter or talk to some cops who work there if you don't believe me.

I'll do you one better, I'll live there. Oh wait, I already do...And have for a year.

Your a "shady" poster. ha!

[cmoscinski]

Originally Posted by racerx68

Homes are getting appraised 20-30% lower from 2 years ago. So you should be offering 30% lower than what that home was appraised at 2 years prior. My friend bought a home in Algonquin for $248,000 2 months ago. Last year the home was on the market for $310,000. If a seller is expecting 90-95% of their asking price you should move on to the next home because it's a buyers market now big time...

[SIZE=2]As far your low opinion of Addison, Lombard and Villa Park, these are all very nice communities so I really do not know where your opinion came from or its basis. You must know that what "you" may like as a lifestyle may not be what others like. Every community has something to offer.

And not "everyone" is desperate to sell. In my opinion, you reach a price at fair market value based in the current market in "that" area, situation, comps as well as finding out stories on why some homes sold for less than market value. Most people do not "have" to sell immediately. But there are those that do have personal situations like pre-foreclosure, family issues, relocation that do have to sell. But really, no one will "give away" their home for less than it's true value, not even a bank REO (for everyone that thinks that they will get something for nothing, I suggest scouring through the court docs for pre-foreclosure filings).

Also, the bank will appraise the home. A reputable bank will not price the home for more than it's value in the current market. A lot of the U.S. market downturn was caused by home equity loans and re-fi's for cash out by seedy Brokers. Many wrote up loans by falsifying docs to lenders, "over appraising" homes, charging phenomenal CC fees and giving ARM's to people they know would not be able to handle later.

To find out more about any community you are thinking of moving to, YOU must research and visit them yourself. Go to the village web site, talk to neighbors, research community development, the school districts, community events calendar and read village minutes of meetings that took place. This will give you an "clearer idea" as to what the community has to offer and what is taking place now.

Here are a few links to help:
Village of Lombard [/SIZE][SIZE=2]http://www.villageoflombard.org/[/SIZE]
[SIZE=2]

An educated consumer is a smart consumer....

[Windy City John]

Any Realtor has this info at their fingertips. This is part of the valuable service they provide.

[loghome]

I grew up in Villa Park starting in the late 50's early 60's..it has changed and not for the better!! As far as percentage for asking prices... there are many factors to consider. How long has the home been on the market? How many price changes? How much does the seller reduce at each price change and when was the last one? Why are they moving? THESE are the questions that will determine what you offer!!! Moderator cut: ad

[chet everett]

I think that many parts of Villa Park are NICER now than they were in the 1950's. The Prairie Path beats ol' sparky/CAE. The town is a nice alternative to the high prices of nearby towns. Have you seen some of the new construction? Would you rather have a odd split level in Utopia/Oakbrook Terrace or a solid pre-war beauty in Villa Park?