Addison, Algonquin, Arlington Heights, Antioch, Bannockburn, Barrington, Barrington Hills, Bartlett, Berwyn, Bloomingdale, Buffalo Grove, Carol Stream, Cary, Chicago - Downtown and Near North - includes areas such as River North, Streeterville, Gold Coast, Loop, East Loop, West Loop, Printers Row, South Loop, Wicker Park, Wrigleyville, Ukranian VIllage, Lake View, Logan Square, Lincoln Park, Lincoln Square, Ravenswood, Andersonville, Uptown, Edgewater, Bucktown, Rogers Park, Portage Park, Crystal Lake, Deerfield, Des Plaines, Downers Grove, Elgin, Elk Grove Village, Elmwood Park, Forest Park, Fox River Grove, Fox Lake, Geneva, Glendale Heights, Glen Ellyn, Glencoe, Glenview, Grayslake, Gurnee, Hainesville, Hanover Park, Hawthorn Woods, Hanover Park, Highland Park, Highwood, Hoffman Estates, Island Lake, Itasca, Johnsburg, Kennilworth, Kildeer, Lake in the Hills, Lake Zurich, Lakemoor, Lake Forest, Lake Bluff, Lake Villa, Libertyville, Lincolnshire, Lindenhurst, Long Grove, Maywood, McHenry, Medinah, Melrose Park, Mount Prospect, Mundelein, Naperville, Northbrook, Oak Park, Palatine, River Grove, River Forest, Riverwoods, Rolling Meadows, Roselle, Round Lake Beach and Round Lake, Schaumburg, South Elgin, Spring Grove, St. Charles, Streamwood, Vernon Hills, Villa Park, Warrenville, Wauconda, Waukegan, Wheaton, Wheeling, Wilmette, Winnetka, Wonder Lake, Wood Dale, Zion
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"Location, Location, Location"
A common and phrase in real estate is "Location, location, location". What does this phrase really mean?
"Location" is repeated to emphasize how important the location is to the resale value of a home. A careful choice of location can maximize positive influences on future resale value, and minimize potential negative influences.
A "bad" neighborhood has a drastic impact on the resale value of a home. Almost anything on a home can be repaired, replaced, or remodeled to make it more livable and/or more saleable. But the area around the home cannot be changed by one homeowner. The only way to sell a home in a bad or declining area is to reduce the price and even then it may take a long time to sell.
"Bad" can mean an area where the homes are not maintained properly. It can also mean a street that has become a heavy traffic artery where it is noisy, or dangerous to try to cross the street.
While no one can accurately predict that a neighborhood will remain the same or improve a sharp real estate agent is aware of trends in the area that might affect the neighborhood in the future. This is especially important if you are moving to a new city and unfamiliar with the area.