Michael Henszey

Hi Sarah

I have a listing that has the same issue. Do your tenants have month-to-month or longer term leases? Long term leases will stay in effect even after you sell.

First, I would be very upfront with your tenants about your need to sell. Reassure them that they will have plenty of notice if you do accept an offer. Also, make sure you account for proper notice when agreeing on a closing date in the Offer To Purchase. When setting up showings, I would ask for 48 hour notice. You then have a little time to inspect your units before the showings and make sure everything is OK. Thinking out of the box, maybe you could offer the tenants a little bonus if they keep the units extra clean.

Please feel free to contact me directly if you have more questions at 262-354-1186.

Good luck! - Thu Aug 28 2008, 15:19

Jackie, are you referring to Park Shores and Hidden Ponds? If you have a Realtor representing you in the transaction, they should research comparable sales in the area. Based on that research you can then make an offer. According to MLS data, there have been six sales at Park Shores. If you need assistance, please feel free to contact me. - Tue Jul 8 2008, 10:06

Jeremy, if reserve funds are too low, then every time something needs to done, you will get assessed. As far as “signs of poor management,” I would look for professional management of the condo. How does the interior and exterior maintenance look to you? If you are really concerned, try to talk to some of the residents. - Tue Jul 8 2008, 09:31

Dear Buyer,

I am a UWM Alum and have lived on the Eastside of Milwaukee for many years. I specialize in the downtown condominium market. There are many nice projects to choose from close to UWM in your price range. I do not think that you have to worry about the condo market dropping dramatically. The demand is still high which is why you are seeing a number of new projects proposed and more under construction. The good news is that sellers are much more realistic about prices now, making it a great time to buy. There are some really good deals out there. I would be more than happy share what I think are the best buys and highest quality projects. Please fell free to contact me directly at michaelh@pruar.com. Once I have a better understanding of the type of amenities you are looking for I could recommend some developments. - Sat Jun 28 2008, 11:54

Hi Stephanie,

Bay View is great area just south of downtown Milwaukee right along Lake Michigan. It has great recreation and freeway access and has become one of the trendier neighborhoods with lots of new restaurants and coffee shops opening in the last two years. Home prices we always very reasonable compared to other lakeside communities however they have been rising with the growing popularity of Bay View.

Brewers Hill is the first neighborhood directly north of downtown Milwaukee. Ten years ago it was a place to find beautiful old turn of the century homes for incredibly reasonable prices. Many of those homes have been rehabbed and lots of new condo projects have been built as well. The Beerline is a planned development area at the base of Brewers Hill which includes some of the finest condos in Milwaukee. To the East, the Martin Luther King Drive business district has he under gone a revival in the past few years with many new business moving in. The views of the city skyline, the proximity to downtown and the Lakefront make it a very desirable neighborhood.

The Harambee neighborhood is just to the North of Brewers Hill and along the I43 interstate.

Please let me know if you would like to put some searches together for you in those neighborhoods. - Wed Jun 18 2008, 10:42