Bart Basinski – firstname.lastname@example.org Baz Realty Network – Keller Williams Preferred Realty Baz Realty Network
Bart Basinski Baz Realty Network – Keller Williams Preferred Realty BAZrealtynetwork.com email@example.com
Address: 12203 S. 68th Ct. Palos Heights, IL 60463
Description of the Property
The 1450 square feet home in Palos Heights has been completely remodeled all the way down to the studs. This property offers brand new granite counter tops, custom tile work, custom molding and trim, windows, appliances, electrical and a restored deck for entertaining the the back yard. Before the remodel this home suffered from a fire that started in the back bedroom. Although the fire was contained to the back bedroom, the rest of the house suffered severe smoke damage. When we first took a walk through the house we could see the smoke damage to the windows and the walls. What a beautiful home this property turned out to be!
Details of Sale:
The list price for the property was $259,900. The property sold for $260,000. The buyer paid cash.
Palos Heights local school district is 128. The four main schools in the district are: Indian Hill Preschool, Chippewa Elementary School, Navajo Heights Elementary School and last but not least Independence Junior High School. Indian Hill school primarily educates the prekindergarteners. Chippewa Elementary School educates students in the first through third grades and also offers a kindergarten program. Navajo Heights Elementary School educates students that are in the fourth and fifth grade. Independence Junior High School educates students that are in the sixth through eight grade. Chicago High School District 218 is the primary high school provider for Palos Heights and the surrounding area. CHSD 218 consists of five different high schools, they are: Eisenhower, Richards, Shepard, Delta and Summit. Alan B. Shepard High School which is located in Palos Heights serves as the communities primary high school. To get a complete look at all the schools and their ratings visit our website BAZrealtynetwork.com.
Palos Heights offers many places to go, and things to see. Downtown Palos Heights offers many restaurants/bars that offer unique eats and treats. Many local businesses flourish in Downtown Palos Heights. To see all the local businesses in Palos Heights click here.
Palos Heights Pool
The Palos Pool offers a very large z-shaped pool, along with a body slide, drop slide and a diving board. Along with the main pool, a wading pool is available for the young ones. Palos pool also offers swimming lessons to those who want to learn how to swim. Located next to the Palos Pool are five large baseball fields.
Lake Katherine Nature Center and Botanic Gardens
Lake Katherine Nature Center & Botanic Gardens is one of the best parts about Palos Heights. Lake Katherine has miles of walking trails and biking trails. Their are many sights to see at Lake Katherine, from the beautiful lake, to the beautiful water fall and down stream river. While walking on the trails, you will see an abundance of different tree’s, wildlife and spectacular views. Lake Katherine also offers youth programs to get your children connected with Nature. Lake Katherine also offers Adult Education Programs.
Oak Hills Country Club
Oak Hills Country Club offers a 9-hole golf course. The golf course itself is surrounded by large tree’s and 50,000 acres of forest preserves. The Oak Hills Country Club is located at 13200 South 76th Avenue, Palos Heights, IL 60463.
Dining in Downtown Palos Heights
For more eat’s click here.
It is my goal to make your Real Estate experience as smooth as possible. By utilizing state of the art technology and providing superior customer service your Real Estate transaction will be handled with professionalism and competency. Whether you are a first time buyer, moving up, downsizing, or investing rest assured I have the experience and knowledge to guide you through the process with ease. I would love to be your “Realtor of Choice”, so please feel free to contact me regarding all of your Real Estate needs!
Serving Chicagoland & Suburban Illinois
Welcome Home Heroes – IHDA
The Illinois Welcome Home Heroes program provides critical financial support to men and women who have honorably served in our armed forces.
Welcome Home Heroes offers:
• $10,000 cash assistance to cover down payment and closing costs
• 30-year fixed rate mortgage with a competitive interest rate
• Federal tax credit that reduces the federal income tax liability by up to $18,000 over the loan life*
• Variety of loan options to choose from, including FHA, Conventional, VA, and USDA
* based on a 30-year, $128,000 loan with a 4 percent interest rate
• Veterans (need not be first-time homebuyers)
• Active military personnel, reservists and Illinois National Guard members (must be first-time homebuyers)
• Contribute one percent or $1,000 of the purchase price, whichever is greater
• Purchase a one- or two- unit property within Illinois
• Live in property as primary residence
Thanks for reading our Orland Park Real Estate Blog!
Posted By: Bart Basinki – Orland Park Real Estate Agent – Team Baz
TeamBaz is a super team of Keller Williams Preferred Realty
specializing in Orland Park Real Estate and Chicago Suburban Real Estate
Home Sales Jump More Than 11 Percent in West,South Suburbs
Sales of single-family detached homes went up 11.6 percent in July compared with the same period a year ago, according to statistics released today by the Mainstreet Organization of REALTORS® (MORe), indicating the second consecutive monthly increase.
MORe measured activity on homes in about 120 southern and western suburban communities through information from Midwest Real Estate Data LLC. Last month’s data also showed a 1 percent increase in home sales.
“I think we’re seeing a combination of very reasonably priced houses on the market and a built-up number of buyers who recognize now is a good time to take advantage of a large inventory and low pricing,” said Christine Chase, Secretary/Treasurer of MORe, and a REALTOR® with Ryan Hill Realty, LLC in Naperville. “The sale increases indicate the federal and local incentives for first-time homebuyers are working; and with a fast-approaching deadline for the federal incentive program, people really need to act rapidly.” Continue reading “Home Sales Jump More Than 11 Percent in West,South Suburbs”
Home Sales Show Year-to-Year Increase in West, South Suburbs
TINLEY PARK, IL – Sales of single-family detached homes went up 1 percent in June compared with the same period a year ago, according to statistics released today by the Mainstreet Organization of REALTORS® (MORe), the first such increase since December 2006.
MORe measured activity on single-family detached homes in about 120 southern and western suburban communities through information from Midwest Real Estate Data LLC.
In addition, the number of homes under contract (but not yet closed) in the same West and South Suburban Chicago area was 40 percent higher than a year ago, the seventh consecutive month of year-to-year growth in pending sales.
“Many first-time home buyers are taking advantage of the $8,000 federal tax credit. This is helping to reduce the inventory of homes on the market,” said Mike Drews, president-elect of MORe, and a REALTOR® with Charles Doss, REALTORS®, in the Aurora and Oswego areas. “First-time buyers can receive the tax credit if their home purchase closes by December 1st, so to take advantage of that credit, they really need to have a home under contract by October 1st.” Continue reading “Home Sales Show Year-to-Year Increase in West, South Suburbs”
Let’s start with the first question that most people have, “What is a Short Sale?” A short is essentially just what it sounds like, the seller is “short” of what they owe their lienholder in the “sale” of their property.
Why would a homeowner want to do a short sale on their property and secondly, why would a lender want to accept less than what is owed?
Short sales are not for everyone. And contrary to popular belief, just because you owe more than what you could sell your property for under current market conditions and want to sell does not mean that a short sale would be a reasonable answer. In order for a lender to consider a short sale, the homeowner must have been faced with some sort of hardship or mitigating factors. Instances which might qualify as a hardship are divorce, illness, death of a spouse or child, job loss, or in some instances a mortgage in which the interest rate is scheduled to adjust up. Basically, the ability of the homeowner to continue to make regular monthly mortgage payments is no longer feasible. From the homeowner’s point of view the short sale is not as devastating as a foreclosure with regard to both their credit report and emotional health. From the lenders point of view the short sale alleviates the time and money for legal fees, the foreclosure process, and eviction, in addition to possible damage to the property from a distressed homeowner. Often times, the loss realized from the short sale could be much less than any profit realized after these factors. You should, of course, consult with your attorney to determine if a short sale makes sense for your situation.
Why would a buyer want to buy a property listed as a short sale and what is the process?
In many instances a buyer could catch a bargain or gain instant equity in purchasing a property that is listed as a short sale, but they must make sure to do their homework first. If you are not familiar with market values in the area of the property you are looking to purchase the short sale, have your Realtor provide you with a “buyers CMA (Market Analysis)” to determine if you are making a good investment decision. You should also consider how long you are looking to keep the property and if you are going to occupy the property or use it for investment. If you are looking for a quick close on your purchase, then a short sale is definitely not for you. The amount of time it takes to close or even the amount of time it takes to find out if your offer has been accepted or rejected by the bank can vary significantly. It is not unusual to wait 90 days or longer for a response from the seller’s lender. It is also important to know that your short sale will almost always be an “as – is” purchase, since the lienholder will be reluctant to negotiate once they have issued an approval. If they are willing to do so, you could be back to square one waiting another 90 plus days. The general rule of thumb is that if you have plenty of time to work with and are looking to get a bargain then a short sale might work for you.
What other things should I be aware of regarding purchasing a short sale property and what will increase my chances of having the offer accepted?
There have been instances in which some lenders have accepted short sale purchase contracts on a property in shorter periods of time. I personally had one lender approve and close a sale in less than 30 days. This, however, is not the norm. It is also important that the listing agent or sellers attorney has provided the all of the requested documents to the lienholder for them to process the short sale. Each lienholder has a different procedure and time frame which they follow. Generally, the lienholder will request all of the following before making a determination: the executed purchase contract, the listing agreement, market time and property price history report, hardship letter, last two months bank statements, last two check stubs, and last two years tax returns. Once these documents have been received the lienholder assigns the short sale to a “negotiator” who will evaluate the package and at this point often orders an appraisal or BPO (broker price opinion) of the property. Having a properly prepared and organized short sale package sent to the lienholder increases the chances of success. It is also important to note that in most instances a property that has had a significant drop in price below market value without incremental price reductions over an extend time on the market, may very likely be rejected by the lender.
If I am buying a short sale property, when should I apply for my loan and can I still have a home inspection?
When purchasing a property listed as a short sale, a buyer should be aware that once the short sale has been approved the lienholder will want to close relatively quickly. I recommend that buyers formally complete their loan application and have their mortgage company completely approve them subject only to title and appraisal. It is not a good idea to allow your mortgage company to order your appraisal in advance of the approval from the seller’s lienholder, or you might be stuck paying for an appraisal on a property you cannot buy. A home inspection is always recommended, even when you are purchasing a property as-is. The home inspection could reveal major structural defects, making your bargain purchase not such a bargain. It is well worth the few hundred bucks for the home inspection, when you are going to be investing several thousand dollars.
Whether you are a Realtor, Buyer or Seller you should educate and familiarize yourself with the short sale process. With all of the changes in the economy and housing market, “short sales” will be a predominant part of the real estate market for quite some time to come.
Colleen & Bart Basinski
Thanks for reading our Tinley Park Real Estate Blog!
Posted By: Colleen Basinki – Tinley Park Real Estate Agent – Team Baz
TeamBaz is a super team of Keller Williams Preferred Realty
specializing in Tinley Park Real Estateand Chicago Suburban Real Estate