One of the biggest issues for buyers looking for new homes in the Chicago area, has been the shortage of inventory for quality properties. Homes that show well and are priced right have been selling quickly all year long. But there are a lot of other properties that may be in good neighborhoods, that are sitting on the market a lot longer. These are the properties that might have some issues. Sometimes it is deferred maintenance, sometimes the home is just outdated and doesn’t show well. Either way, most borrowers are looking for homes that are in move in condition, and these homes don’t even show up on their radar. But these homes can be a great opportunity for buyers with imagination. These homes are neglected because they don’t have the amenities today’s buyers are looking for, but with a renovation loan, you can fix and improve a home, changing it into the home you…

Read More