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Market Conditions in 53406 : Real Estate Advice

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  • Home Buying1
  • Home Selling1
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Activity 3
Tue May 11, 2010
Linda S. Cefalu answered:
Dear Marci,

I would never advocate going with the full price that you have been pre-approved for. There is a huge difference between pre-approval and pre-qualified. It will make a world of difference for you in your stress level the closer you get to closing. You want a qualified pre-approval!!!!!! Even better, a loan commitment pending finding the actual home and appraisal.

A good rule of thumb is no more than 1/3 your NET (TAKE HOME PAY) PER WEEK. If you go by this guideline, it will allow wiggle room for unexpected expenses, repairs, updates --- going out for dinner?????

Home ownership is very exciting for many people, but being tied to your home due to lack of funds to enjoy life and being able to make necessary improvements and repairs to that home can quickly cause that home to become a heavy burden and cause turmoil in all areas of life.

Don't let anyone talk you into going to the top of your price range.

Let us know how it turns out for you.

Linda
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Sat May 1, 2010
Mini Samuel answered:
Marci, just answering the same question here again... Meet with a reputable lender who will guide you in this process. Again, if you need names of lenders, I can help you out. I do work in the Racine, Kenosha Market as well. Please email me back with any further questions.. Hope to hear from you soon! ... more
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Sat Apr 26, 2008
Karen Wenzel, e-PRO answered:
Unni,
I can't speak on the property values in Mount Pleasant, hopefully another agent from that area may be here on Trulia and can provide you with that information.

As far as Waukesha and Oak Creek. Both of these cities had appreciation in value of approximately 4-6% /yr. up until around 2006. Since then, for the most part - values have been modest or flat. As you know most properties have had some re-adjustment in value in the last 1 1/2-2 yrs. There was an abundance of inventory, which has made it a Buyer's market. Slowly we are seeing some of the excess inventory starting to be sold. There are some great values for Buyers who see the investment potential.
Since all the factors that made these areas desireable in the past still exist, I would imagine when the market picks up again, that the property values will appreciate accordingly.

Good Luck to you!
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