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Home Buying in Waukesha : Real Estate Advice

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

Activity 11
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
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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
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
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
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
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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.
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Sat Mar 14, 2009
Sally K. Hanson answered:
Hi Kaye...We are Wisconsin realtors and while there are such things as dual agents...that is an agent that represents the buyer and sellers Iit is not clear whether you had an actual Buyer Agency contract. The best thing to do is check the contract dates first. If the contract extends longer than you wish to be associated with this agent, ask her if you can be released from it as you are not comfortable with the relationship. If she insists on maintaining the contract, call her manager and ask for a release....if the brokerage is one concerned about their reputation in the marketplace...they will release you and you are free to hire another agent. ... more
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Fri Jun 13, 2008
Robert answered:
Thank you for all the responses.
I talked to my agent, and she took me through the Waukesha County website and the arial view of the lots. We found the lot for the property and there seems to be enough space to build a 2 car garage (also looked at aerial views from google and virtual earth). She said because the building permit must be requested by the owner who will actually build the garage, it's very unlikely the seller will provide such permit at this time.
I'm not sure how to work this into the offer, so that I don't get screwed afterwards by the City not approving the garage construction.
BTW, I don't want the seller to build the garage for me, I just want them to provide signed proof by the City that it can be built in the future.
... more
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