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Home Buying in Cottage Grove : Real Estate Advice

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Activity 4
Wed Oct 16, 2013
Keely Scheider answered:
Hi Kathy!

Where are you relocating from? There are several options available but it depends on the type of lot you are looking for (ex: wooded etc.) I would be happy to speak with you and to get a better feel for what exactly you are looking for and help you find the perfect place to build your new home. Please feel free to call or email me anytime.

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Wed May 23, 2012
Bill E answered:
Before every Realtor in the State of Wisconsin chimes in offering to help you buy this year instead of rent...let me answer your question with candor not usually found on this forum.

Short Answer: Yes, you can ask Sellers if they are willing to rent instead of sell.

Long Answer: Don't bother. You will have to wait in line behind all the people who want to buy. The real estate market pulled a U-turn sometime in March and it is a whole different ballgame now. Multiple offers, bidding wars, short days on market, mobbed open houses, difficulty scheduling inspections and closings, lenders are out of their mind...sort of like 2006.

In real life, anybody with a house to sell is likely buying another house...and needs the equity from the sale for the down payment on the new one, not a stream of rental income for a year.

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Sun Mar 11, 2012
Julie Flint answered:
Hi Chris,
Realty Trac will not return your calls because they are not a Broker, and they can not advertise a specific property on the web as it is illegal to advertise a property that you do not have a listing contract for. They are however a place of information on forclosures if you are willing to pay for it on a monthly basis. They do have a 7 day free trial period. I however, do not recomend you pay for information you can already get from your local agent. I am very atuned to the Cottage Grove market and would be willing to help you find a house that is right for you. There is a new forclosure in Cottage Grove that has been on the market about a month now if that is the house you are looking at. Julie Flint, Evans Properties, LLC C# 608-279-4247 OFFICE 839-9100 ... more
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Sun Dec 6, 2009
Donna Panico answered:
It would be best to talk to an agent in the area where you are considering purchasing because all real estate is local. It's also a good idea to speak with an agent who will be representing you and your interests in a transaction for an unbiased opinion.

Generally speaking, anytime you place limits on who can buy in an area, your prospects for a sale will be less than if the playing field is open to anyone. That said, there are people who prefer to be in a community that reflects their age demographic and they would welcome the opportunity to be a part of such an association. Normally in an age restricted community, it is still a requirement that 20% of the units are available to people of all ages.

A few things to keep in mind when purchasing a condominium include financing and number of units sold. In some areas, financing will be limited especially when a development is new. Many lenders will restrict the type of loan being available when there is fewer than 80% of the total project sold. The restriction could be that they may only offer an adjustable rate mortgage or they may expect a greater downpayment, etc. In areas where condominiums have been overbuilt and are just sitting on the market without being completed, you may see the developer offering units at a lower cost than those which were sold earlier in the project. This is a tough pill to swallow for a current owner who may have paid a higher price and could not compete with the builder should they need to sell in this market.

Another issue when considering a condominium is the association fees. Be sure to compare apples to apples in regards to what you're getting for your money. Review balance sheets from the association to get a clear snapshot of how financially solvent the entity is, and their history of added costs to the owners as well as outstanding and anticipated overhead. When buying into a development which is new and still in the hands of the builder, it may be difficult to get a true comparison because the development will lack a financial history.

Best of luck to you!
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