Dave Pérez - Your Trusted Real Estate Agent

05/15/2026

Due diligence for condo buyers
For aspiring home buyers, a condominium can be an attractive option. Condos are typically more affordable than single-family homes and require less maintenance, and they’re often situated near shops, entertainment and transportation. If you’re considering a condo purchase, here’s a primer that will help you evaluate your options and maximize the enjoyment of your new home.

When I own a condo, what do I own?
Condos are usually individual units within a residential building complex. Unlike a single-family home, which usually includes the lot on which the home is built, a condo typically includes the individual unit and a percentage interest of the land, building, common areas and amenities.

What do I need to know about amenities and assessments?
Most condos offer secure building access—and they may have amenities, such as fitness centers, party rooms, or walking trails. You’ll pay a monthly assessment that covers maintenance of the communal property and amenities. In some properties, assessments also cover select utilities.

How are building decisions made?
Condos are governed by a condo owners association (COA), headed by a volunteer group of unit owners. In many areas, the COA is known as a homeowners association (HOA), and people sometimes use “HOA” as a shortcut to refer to both the association and the monthly assessment.

What are my responsibilities as a condo owner?
The COA makes and enforces a set of rules known as covenants, conditions and restrictions (CC&Rs), which are officially recorded and filed with the state. The COA also has a set of bylaws that cover the day-to-day governance and may have other rules and regulations that are updated seasonally or as needed. All unit owners are expected to follow these rules, which are designed to safeguard the community and protect property. They cover such things as noise, pets, parking, renovations, renting, and a lot more.
What due diligence is required when purchasing a condo?
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Talk to your lender and insurance agent. With condo sales, in addition to qualifying you for the loan, lenders consider other factors, such as the COA finances and the percentage of units in the building that are rented versus owner-occupied. You’ll also need a condo insurance policy.

Request a copy of all governing documents from the COA—including the CC&Rs, bylaws, and rules and regulations—and review them carefully so you know what’s expected of you as an owner. Engage an experienced real estate attorney to review the documents and point out any red flags.

Find out about the COA’s finances and how much it has in reserves. The healthier the reserve fund, the less likely it is that the COA will have to issue a special assessment (an added fee levied on unit owners) to cover major repairs.

Ask about any past or planned special assessments. If special assessments have been levied frequently, it might be a sign of poor management or poor building condition. If you’re considering a purchase in a building where a special assessment is coming up, you may be able to negotiate with the seller to cover all or some of the cost.

Find out about fees and fines for violating the COA’s rules and regulations, and find out how to submit questions, issues and concerns to the COA.

After the purchase:
Keep contact information for COA board members and attend the meetings to stay informed about the governance of your new community. The more you know, the better prepared you’ll be to enjoy ownership of your condominium home.

Your real estate agent will help you navigate the purchase or sale of a home. An attorney can provide guidance on the laws in the state where you’re purchasing. Only real estate professionals who are members of the National Association of REALTORS® may use the term REALTOR®. Under NAR’s Code of Ethics, REALTORS® must work in their client's best interest and treat all parties fairly. Please visit facts.realtor for more information and resources.

To help condo buyers prepare for a purchase, NAR offers this shareable consumer guide that includes a Q&A and due-diligence steps. To get your copy visit my Housing Insights Page. Click the link to get your copy. https://www.loshomeagents.com/wpgblog/due-diligence-for-condo-buyers

05/13/2026

Sellers Are Winning in Chicagoland, But Strategy Matters More in 2026

Thinking about selling this year? Here’s what many Chicagoland homeowners are asking right now: “Are buyers still active even with mortgage rates above 6%?” The answer is yes, especially for well-priced homes in desirable neighborhoods across the western suburbs and greater Chicago area.

Illinois home prices were up 4.6% year over year as of March 2026, and Chicagoland detached home sales climbed 7.5% this spring. Inventory is still tight in many local markets, which continues to create opportunity for sellers who prepare and price correctly.

What’s changing:
• Buyers are taking a little longer to decide
• Overpriced homes are seeing price reductions
• Move-in ready homes are still attracting strong attention
• Strategic pricing matters more than it did the last few years

One of the biggest shifts this spring is that buyers now have more choices. That means presentation, marketing, and first-week pricing strategy are becoming the difference between multiple offers and sitting on the market.

For local homeowners in areas near Bellwood, Elmwood Park, Oak Park, Berwyn, Westchester, and surrounding western suburbs, this market still favors prepared sellers, especially homes that photograph well, show cleanly, and are priced based on today’s buyer expectations rather than last year’s headlines.

If you’ve been wondering:
“Should I sell now or wait?”
The real answer depends on your neighborhood inventory, price point, and timing goals, not just national headlines.

Want to know what buyers are currently paying for homes like yours in your area? Message, text or email me for a quick local market breakdown and pricing strategy.

Dave Perez
708-408-9006
LosHomeAgents@gmail,com
www.LosHomeAgents.com

Data Sources:
• Redfin Illinois Housing Market Report
• Chicagoland Housing Market Spring Update
• Illinois Realtors Spring 2026 Market Shift Report
• Reuters Housing Market Coverage

The information and opinions shared in this article are for general knowledge only—they’re not meant to be taken as investment or financial advice. Net Realty Corp and Los Home Agents LLC do their best to provide accurate and useful information, but we can’t guarantee that everything here is complete or up to date. Before making any financial or real estate decision, it’s always smart to do your own research and talk with a qualified professional like myself, so I can better understand your specific situation and offer guidance tailored to your needs. Net Realty Corp and Los Home Agents LLC aren’t responsible for any loss or damage that may result from relying on the information or opinions shared here.

05/07/2026

Could Co-Buying Be the Answer for Some First-Time Buyers?

Affordability challenges are real, but they don't have to mean waiting indefinitely. Co-buying is helping some first-time buyers stop waiting and start putting down roots.

If you're curious whether it could work for your situation, let's talk. Reach out today and let's figure out your path to homeownership together.

For a lot of would-be first-time buyers, affordability is the thing that’s standing in the way.

05/06/2026

The Secret To Selling Fast, No Matter the Market

Today's housing market rewards the right strategy. Because even in a slower area, the homes that are priced realistically and positioned well are still selling – sometimes faster than you may expect.

Let’s connect if you’re ready to make yours one of them.

When you put your house on the market, you don’t just want it to sell. You want it to sell fast.

05/04/2026

4 Ways To Give Your Offer an Edge This Spring

Today's market may be balancing out, but strong offers still matter – especially during the busy Spring season.

Curious how competitive things are (and what it’ll take to win) in our market? Let’s talk.

Looking to buy a home this season? Here's what you should know.

04/30/2026

Is Late May the Best Time To List Your House?

Zillow says the best time to list your house is just around the corner. Are you ready to make the most of it?

If you want to take advantage of this Spring sweet spot and get top dollar for your house, let’s talk about what you need to do now to get ready to hit the market.

You may have heard April 12-18 was the “best week” to list your house.

04/29/2026

Stay or Sell? How To Make the Right Call as You Age

There’s no one-size-fits-all answer here.

Some people stay and make updates. Others move to simplify things. Either can be the right choice. The goal isn’t to pick one today. It’s to understand your options early, so when the time comes, you feel confident instead of rushed.

And if you ever want a sounding board to think through what the future could look like for you, let’s connect.

At some point, as you start thinking about the years ahead, this question tends to come up...

04/27/2026

Think You Have To Put 20% Down? Most First-Time Homebuyers Don’t.

The simple truth is: most first-time buyers don’t put 20% down. And if you’ve been waiting to buy until you have that saved, you may be setting a timeline that’s longer than necessary.

To find out what you really need to save and if you qualify for any help, connect with a trusted lender who can walk you through your options. You may be able to buy sooner than you thought.

According to Google Trends, online searches for down payment information recently hit an all-time high.

04/23/2026

3 Things That Are Not Going To Happen in Today's Housing Market

Online posts are going to make things sound worse than they are. If you want a true, data-bound look at what’s really happening in today’s market, lean on a real estate agent.

Let’s connect so you have someone to separate fact from fiction today.

04/22/2026

More Options Are Popping Up This Spring

More fresh listings are hitting the market right now, and that’s creating real opportunity.

If you put your search on hold last year, this Spring may be the time to jump back in. Let’s take a look at what just hit the market and see what could work for you.

Did you try to buy a home last year, but you ended up pressing pause?