From the category archives:

Condos

Baird & Warner offers 5% down condo mortgages!

Thumbnail image for Baird & Warner offers 5% down condo mortgages! February 21, 2010

We’ve been getting a lot of questions regarding FHA financing and our 5% down conventional program. We are one of a very few lenders that can offer 5% down conventional financing. I thought it would be a good idea to provide you with a short list of pros and cons for both loans.
FHA [...]

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Financing options for some new Chicago condos improving

October 5, 2009

Crain’s Chicago Business is reporting that some new condo developments in areas including River North, Lincoln Park, and the West Loop are offering low interest, low down payment financing to spur sales.
Tightened financing for new condo developments has been holding back sales so the banks that financed the developers are now offering attractive financing to [...]

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Mixed news for condos in Naperville

August 24, 2009

I just started working with a woman looking for a condo in Naperville for her and her son. Back in early July I blogged about Naperville’s house market in “Naperville’s 60565 Zip Code Continues to Have Strongest House Market”
An area’s condo market isn’t necessarily the same as its house market. That’s especially true this [...]

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Median 1 Bedroom Sales Prices From Lincoln Park up to Rogers Park

July 31, 2009

This week I talked with a gentleman who current rents in the South Loop. He’d like to buy a one bedroom condo on the north side. I explained that as you get farther north prices tend to get lower. A check of median one bedroom condo sale prices for the past 6 months confirms this.*

AREA
MEDIAN [...]

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In search of FHA approved condos in Andersonville and Rogers Park

June 21, 2009

Yesterday I talked with a buyer at Caribou Coffee in Boystown. He’s interested in buying a condo in Andersonville or Rogers Park using Federal Housing Administration (FHA) financing. FHA mortgages allow down payments as low as 3.5%.
Unlike houses, not all condos are FHA approved. In Andersonville and Rogers Park most condos aren’t FHA approved. The [...]

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Great time to buy a condo in downtown Chicago, if you’re careful

June 15, 2009

Last week at Baird & Warner’s “Out of the Office” networking event in Chicago for gay pride month, I talked with my friend, Scott, who’s been thinking of buying a condo in or near the Loop for a few years now. He asked me if I thought now was a good time to buy. [...]

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What’s a View of Lake Michigan Worth?

April 20, 2009

The other night I met with former clients in Rogers Park who were considering selling their condo and buying another with some features they wanted. Back in January they refinanced. When they told me the appraised value of their home I was quite surprised since it was much higher than I knew comparable condos were [...]

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95% Condo Mortgages Back for People with Good Credit!

March 17, 2009

Starting late last year and until this week condo buyers had to put a minimum of 10% down unless they bought an FHA approved condo. Condo mortgages requiring only a 5% down payment with no FHA restrictions are now available for well qualified condo buyers!
According to Baird & Warner Financial Services Loan Consultant, Michael Polera, [...]

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Northbrook 2 Bedroom Condo Market Stats

March 9, 2009

This morning I met with a seller looking for a new listing agent for her 2 bedroom condo in Northbrook. She wasn’t thrilled with the market data I provided, but I believe in telling sellers what they need to hear instead of what they want to hear.
The median sale price for Northbrook 2 bedroom condos [...]

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4 Bedroom Condos Appreciating Better Than 3 Bedrooms in Lakeview, Chicago

February 27, 2009

This afternoon I showed 3 & 4 bedroom condos in the Lakeview area of Chicago. Now median sale prices are a rough measure at best of what’s going on in a market, but 4 bedroom condos have definitely appreciated better in Lakeview over the past 3 years than 3 bedroom condos have when you look [...]

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