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Home Buying in Racine : Real Estate Advice

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  • Local Info13
  • Home Buying22
  • Home Selling3
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Activity 26
Sat Jul 23, 2016
njbundy asked:
The property has been listed for 5 months and had only one showing. Also, we had to ask the existing realtor to put it on Zillow and trulia and a few other sites! Seems like this would…
0 votes 0 Answers Share Flag
Wed Jul 22, 2015
Wayne Cowles answered:
My Listings is not available in menu.
0 votes 1 answer Share Flag
Thu Jul 16, 2015
Jama1830 asked:
Mon Sep 15, 2014
Erin.suominen asked:
I'm right on the mark where I can get an FHA loan, is there anyone that can help me purchase my first home in Racine, WI? I'm trying so hard to get my score up, I heard if I paid…
0 votes 0 Answers Share Flag
Mon Aug 4, 2014
Mark Nehs, Wisconsin answered:
622 no problem. We do go by middle score but 622 works with me on a few programs. Contact me if interested.
0 votes 3 answers Share Flag
Sat Aug 2, 2014
Josh Barnett answered:
Complete a loan application with a local lender and the lender will be able to advise on which loan products are available.
0 votes 2 answers Share Flag
Wed Feb 5, 2014
Patrick Vandenberg answered:
Art, Why are you asking that on this website when we already had this discussion in MY OFFICE?
Patrick
1 vote 2 answers Share Flag
Fri Aug 9, 2013
Sunnie Zemaj answered:
The term "nice" is vague.Please send me your criteria (neighborhood,area,school district,price range,etc).....I would be more than happy to assist you!




262-620-0439
0 votes 1 answer Share Flag
Tue Jul 24, 2012
Charley answered:
I am asking if they can come after me for the difference of what I owe on the house vs. the amount that it sold for at the Sheriff sale.
0 votes 2 answers Share Flag
Sun Apr 29, 2012
Trevor Curran answered:
We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.


It is unlikely you could be approved for mortgage financing with that credit score at this time.

Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.

First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://consumer-action.org/

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm


The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.


Trevor Curran
NMLS #40140
... more
1 vote 7 answers Share Flag
Sun Apr 29, 2012
Trevor Curran answered:
Next step: begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://consumer-action.org/

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm


The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.


Trevor Curran
NMLS #40140
... more
1 vote 3 answers Share Flag
Sun Apr 29, 2012
Trevor Curran answered:
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://consumer-action.org/

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm


The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.


Trevor Curran
NMLS #40140
... more
1 vote 6 answers Share Flag
Sun Apr 8, 2012
Linda S. Cefalu answered:
Hi Joy,

You already have a few agents that have offered their services. I live in Racine County and I love it here. Racine is very large, so where you live is going to depend on your personal needs such as commuting to work.

You can either choose from as reputable site such as Trulia or you can ask your current agent, if you have one in Nevada, to refer someone from Wisconsin. Just make sure that they actually know the agent they are referring to you.

And I agree strongly with the comment made by Mini and David. I just had what we call a "dry closing" last week due to the out of town funding. I also have several lenders that I have worked with for years. They are trustworthy and very reliable. They stay on top of everything and keep you informed every step of the way so that nothing slips through the cracks.

Let any of us know if we can help and please come back to let us know how you did. We often get questions from buyers, but never hear from them again. It would be nice to hear from you once you are settled.

Best of Luck
... more
1 vote 4 answers Share Flag
Fri May 13, 2011
Elva Wormley answered:
Hi Terry,

If you don't already have insurance, you will definitely need it.

Best regards,

Elva Wormley
Cobalt Financial Corporation
0 votes 2 answers Share Flag
Tue Mar 15, 2011
Dallas Texas answered:
Confused are you wanting to purchase another home in CO I am assuming ?

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 1 answer Share Flag
Fri Nov 26, 2010
Ajnorris08 answered:
We are in the preapproval status right now and the "condition" (if that's what you want to call it) is that the collection be paid off, which we are doing. Does this pretty much guarantee us or do we still run the chance of being denied when we actually do a bank application? ... more
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Thu Apr 22, 2010
Linda S. Cefalu answered:
Dear Jjohnson,

The May issue of Milwaukee Magazine has a great expose' on the top 7% of realtors in the Milwaukee Metro area. It also lists their names and contact information. These are chosen through a long an arduous process and the criteria in choosing them is quite strict.

They must be nominated and the selection process is based on nine criteria:

1. Customer service
2. Communication
3. Finding the right home
4. Integrity
5. Negotiation
6. Marketing the home
7. Closing preparation
8. Overall satisfaction

In addition to the clients, they also interviewed title companies, mortgage companies etc. who worked directly with these agents.

The top 7% of the FIVE STAR AGENTS were picked out of more than 8,000 agents.

You might want to start there.

Linda
... more
0 votes 7 answers Share Flag
Fri Apr 16, 2010
Linda S. Cefalu answered:
I really don't believe in averages. I have seen homes for over asking price and under asking price anywhere from 2% to 25%. If you are working with an agent and you find a home that you wish to make an offer on, you would ask him or her to do a cma in the area. That will be helpful, however, still not the deciding factor. Some people will take say 3 homes - one is $150,000, one is $200,000 and one is $300,000. Then they add them together and divide by 3, giving an average selling price of $216,666.....

This calculation simply does not work in real estate. As you said yourself, there are many factors involved in deciding on what you should offer on a home.
1. What do you qualify for?
2. How does the home suit your needs?
3. Does the location make sense for you?

I could go on and on, but the bottom line is..........you might pay $150,000 for a home that someone else would be willing to pay $175,000 for.

What you do need to be concerned with is what is the appraiser going to think it's worth -that is, if you're getting financing. No matter what you think it is worth, the bank must agree or you don't get the loan.

And keep in mind that the value of conventional sales in Wisconsin are being brought down by the surrounding sales regardless of whether they are shortsales or foreclosures.

Hope this was helpful.
Linda
... more
1 vote 4 answers Share Flag
Thu Apr 8, 2010
Vincent Selleck answered:
Hi

There are generally no restrictions for foreign nationals buying US property. We advise our clients to buy through an LLC rather than in their own name for asset protection and if they live in Australia to set up an LLC in a tax-free state as the sole member for the LLC that owns the property in the state of operation to avoid state taxes and create another firewall between their US property and other Australian assets.
I am happy to provide further advice, as we are buying lots of foreclosed properties for Australian investors with net returns of 15-25%. We have a team which includes lawyers and a joint US and Australian accountant to ensure that each client is setup correctly for legal and tax.

You can contact me on vincent@888wc.com.au or www.888wealthcreation.com

Many thanks

Vincent Selleck
... more
0 votes 2 answers Share Flag
Tue Mar 2, 2010
David Bellovary answered:
Hi Karen,

The answers given previously are very good in general terms. However, as Keith Manson mentioned, every foreclosure has its own timetable depending upon its unique circumstances. I have included a link to one site that I have found that may be helpful to your understanding of the foreclosure process. Its perspective is geared toward the owner that is being foreclosed upon, but it provides some very useful information.

http://www.stop-foreclosure-services.com/Wisconsin-foreclosure-laws.html

Hope this helps!

David Bellovary
Broker Associate
Certified Distressed Property Expert
RE/MAX Newport Realty Corp
dbellovary@wi.rr.com
Racine, WI
... more
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