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Waukesha : Real Estate Advice

  • All37
  • Local Info6
  • Home Buying10
  • Home Selling2
  • Market Conditions3

Activity 25
Thu Mar 10, 2016
Harjeet Bhatti answered:
Fri Jan 29, 2016
Scott Godzyk answered:
It is very unlikely you can, if the home owner owes more than the home is worth there is no time for a short sale. The bank does not owne it yet so they cant sell it and most likely if the owner had any equity, they would have sold the home instead of letting it go to foreclosure ... more
0 votes 4 answers Share Flag
Thu Aug 20, 2015
Sneha.khaire85 answered:
Please see if this is something that interests you, if yes then please contact: and get immediate response. ... more
0 votes 2 answers Share Flag
Wed Apr 29, 2015
Ernie Behrle answered:
Does your agent in the MLS make a point of mentioning it or can he put it under as a financing term. I find it hard to believe an MLS that doesn't. Here it is a searchable term and gets used frequently, especially for first time buyers who need 100% financing. Good Luck!! ... more
1 vote 1 answer Share Flag
Tue Dec 23, 2014
Gary Geer answered:
Ask your agent to show you other active listings to verify if your competition rooms compare with yours. This requires you to put on your buyers hat and try to see their homes and yours through buyers eyes. Also try to find out if their are any other factors about your home or location that are preventing an offer from coming in. Buyers are telling you something is not right if you are not getting offers. Ask your agent to provide you with feedback from showings to help find out. Normally when showings are up but no offers come in it is the price that is the problem. All the best. ... more
0 votes 8 answers Share Flag
Thu Sep 18, 2014
Michelle Yoo answered:
Hi there,

I'll give you a straighter answer as long as you keep in mind that there are always exceptions and that there are very few bright line rules in real estate.

Typically in my area, if a house is priced correctly (accurate CMA's conducted, etc), houses will sell within three percent of their list or asking price. Hope this helps. ... more
0 votes 3 answers Share Flag
Mon Aug 18, 2014
Terry Lesperance answered:

This home sold for $270,000 on 4/3/2014

It is assessed at $281,000 in 2014

Combined days on the market was 329 days

Original list price was $295,000

There was a $3,000 seller paid closing cost

A 1 year home warranty was included and paid by seller.

30 year conventional mortgage

I hope this information was helpful.

Terry Lesperance
RE/MAX Realty 100
Search ALL Homes + FORECLOSURES Instantly At
Know of Anyone Behind On Their Mortgage Have Them Visit
... more
0 votes 1 answer Share Flag
Thu Jun 19, 2014
Michelle Yoo answered:
In terms of selling your home, your credit rating shouldn't actually affect that.
As for the process of purchasing a home, it will depend on what your actual credit score is, your debt to income ratio, and other factors. The previous advice of consulting with a mortgage lender is wise. Good luck to you. ... more
0 votes 8 answers Share Flag
Sat May 31, 2014
Michelle Yoo answered:
Hi Adam,
I'll answer since no one else has. If you're strictly looking in Waukesha, there are now many resources via the internet and sometimes rental packets that you can find for free at stands.

I understand that you're looking for a lower price, but I would urge you to do some background checking on the apartment you're interested in. Check the area out on a Friday night to see whether it's reasonably peaceful or not.

Good luck.
... more
0 votes 1 answer Share Flag
Wed May 21, 2014
Laura Moldenhauer answered:
You can certainly contact the homeowner. They most likely will need to get bank approval to do a short sale. An experienced short sale negotiator can work with the bank to get any impending Sherriff's Sale date postponed and help the process move relatively smoothly. The short sale process requires home owner participation and it's not as easy as just listing the home with a realtor. There are many documents that need to be collected from the home owner/s and each bank has a multi step process it will go through before the offer you make is approved. It can be anywhere from 30-90 days in most cases but some I've worked on have taken longer.

Feel free to call me if you'd like a more in depth explanation. I've successfully completed several short sales for clients and my negotiator used to work for Chase as a negotiator in their short sale department so he really knows how to get things done.

Warm regards,
Laura Moldenhauer
New Horzions in Real Estate
... more
1 vote 4 answers Share Flag
Thu May 8, 2014
Kim Benedict answered:
There are so many factors that can determine the answer to this question... location, price, condition, are just to name a few.
0 votes 2 answers Share Flag
Wed Jan 8, 2014
Christina Holmes answered:
Thank you so much. Looking to relocate to the area for a job and researching schools in the area.
0 votes 2 answers Share Flag
Sat Nov 9, 2013
Mark Nehs, Wisconsin answered:
How much can you afford? What would fit in your budget? I like to answer the question in the other direction too many people bought a home by what the lender told them they could "afford" and have since lost their house. Based on your income numbers it will be tough to find much in the Waukesha area. If you want to figure it out together contact me. Credit score is fine. ... more
0 votes 2 answers Share Flag
Fri Nov 1, 2013
Stevens & Manley answered:
It is always good to ask for a referral and interview at least 3 agents. We can provide a list of interview questions.
0 votes 12 answers Share Flag
Thu Jul 4, 2013
Annette Lawrence answered:
Donna and Chris have provided good guidance.
They failed to mention the listing agent demonstrated EXCEPTIONAL integrity by referring you to another agent in the office. Be very aware, all agents in the same office do compete with each other. The agent you use will defend and promote the position most benificial to you while the listing agent will battle to keep price up and terms favorable and contingencies to a minimum.
You are making this way more convuluted that it needs to be.
... more
0 votes 3 answers Share Flag
Sun Nov 18, 2012
Elizabeth Sibet answered:
Hopefully you had your question answered by now, but if not Fannie Mae has changed their policy. It used to be that any person buying a house as an owner occupant could NOT have their name on tax records for another property (including parents assisting their children, for example). Now they are allowing parents to pay cash for a house for their adult child to live there during the owner occupant period and be on title but not the loan. However, you'll want to ensure your lender will allow someone to be on the title who is not on the mortgage since many lenders do not allow that. Good luck! ... more
0 votes 1 answer Share Flag
Fri Jun 1, 2012
Nina Kraus answered:
The listing has expired. It will probably be listed again, but if you contact me, I can give you the specifics of the listing before it expired.
0 votes 2 answers Share Flag
Tue Jun 22, 2010
LJ answered:
From a buyer's point of view, I have to agree that the mudroom entrance of a home is important. That is a main source of entry for a family every day. I would prefer the laundry facilities to be just off the mudroom with a door that can close to hide the mess. Important features for me are a kitchen that is large enough for people to gather in with a walk-in pantry, a master bedroom with a spacious private bathroom, 9 foot ceilings, a built in desk with enough outlets to power chargers and a computer, and natural materials like wood and stone. I've also seen homes that have an extra wide upper hallway which is a nice feature. Lastly, and I think most importantly, a quality built home. ... more
0 votes 7 answers Share Flag
Tue Jun 15, 2010
David Belman answered:
Here are some stats on Lake homes in Waukesha County with full lake frontage (not access):
(Price range searched was $200,000 to $1,000,000)

Active Listings: (Homes currently for sale)
Pewaukee 29 listings, Range $319k-$995 Average drop in list price 8.12%
Oconomowoc 54 listings, Range $314-$999 Average drop in list price 8.25%
Muskego 29 listings, Range $319-$995 Average drop in list price 6.9%
Merton 16 listings, Range $449-$997 Average drop in list price 9.6%
Delafield 23 Listings, Range $359-$987, Average drop in list price 8%

Here are the Sold Lake homes in the past year with all price ranges considered. Again with full lake access only. Listings with views of lakes or partial access were excluded. Keep in mind this study does not take into account home size, # of bedrooms, & garage space. Only pricing and lake access.

Pewaukee 13 Sold Average List Price $489K Average Sold Price $459K Percent Price Reduction 10%
Oconomowoc 45 Sold Average List Price $560K Average Sold Price $510K Percent Price Reduction 12%
Muskego 16 Sold Average List Price $330K Average Sold Price $306K Percent Price Reduction 5.4%
Merton 28 Sold Average List Price $105,1K Average Sold Price $969K Percent Price Reduction 8.69%
Delafield 37 Sold Average List Price $770K Average Sold Price $692K Percent Price Reduction 9.62%

Looking at the stats I would agree that Muskego has the most affordable lake homes with Oconomowoc coming in second. You can also see that Muskego has a closer list to sale price which tells me that supply and demand are probably closer than the other areas. I hope this information is helpful for you. Good luck.
... more
2 votes 3 answers Share Flag
Tue Jun 8, 2010
David Belman answered:
Here are some stats on Wisconsin home sales in the first quarter of 2010.
(See the link to my blog for more information and links to where I got my statistics from)

Sales are up 16.8% in the First Quarter of 2010 VS 2009
Wisconsin is outperforming the Nationwide in terms of median sales price. Wisconsin is up .1% whereas Nationwide is down .7%
Waukesha County Rose both in number of sales from last year by 3.4% and in average sales price by 2.2%
These statistic all bode well for our market. It shows that prices have held, sales have increased despite the dip nationwide. This is despite the fact that there are a large amount of foreclosure sales in the market.

Federal tax credits and low-interest rates helped fuel the increases, especially in the starter home category. The big questions are:

How will the market respond after the tax credits expire?
Will movement in the lower end start helping the mid range sales activity?
How quickly could interest rate increases cut into the positive growth we have seen?

Regardless of the questions out there, this is positive news regarding the stability of our market and we should be encouraged that we are coming out of the bottom.
... more
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