Elgin, IL – As the winter season takes hold in the Fox Valley area, the MLS listings for the city of Elgin indicate 126 single family homes are currently on the market. Three are set up as auction status, ranging in price from $10K-$50K, while four others are listed at under $40K, but three are already contingent (under contract).
These homes are investor friendly, with loads of remodeling work required and permits needed. Very few of these properties will be first time home buyer ready and most will require a purchase to be done without a mortgage of any kind. Cash buyers are welcome to put in offers on these homes and those that are able to bid up and over the list price are likely to win the majority of these properties.
It still is a great time to get into the housing market, before the spring season gets rolling and competition with other buyers gets into multiple offers and bidding wars. First time home buyers can narrow their preferred areas and seek out deals while other buyers are still planning their Super Bowl parties.
For more great information on the home buying process, check out this link: