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53005 : Real Estate Advice

  • All8
  • Local Info0
  • Home Buying6
  • Home Selling1
  • Market Conditions0

Activity 25
Sat May 31, 2014
None answered:
There is no "better" or "worse" with these zip codes. They both share the same school district and, geographically, are pretty much the same.

Elm Grove (53122), is a mostly non-business community. They have no major businesses to support their tax base, so property taxes there can run a little higher than Brookfield (53045 and 53005). Elm Grove has a little more of an "exclusive" air to it and some of the houses there reflect that. They run the gamut from modest homes built in the 50's to large mansions built in the last couple years. Most of the older homes have very unique architecture and unusual floor plans. Also, being more land-locked, Elm Grove homes generally will command a higher price-tag than the more expandable Brookfield area.

Brookfield also runs from much older houses to brand new models but the architecture and layouts tend to be more tradition with a few exceptions.

Overall, your kids would go into the same school system, you'd shop at the same stores and have the same commute regardless of with zip code you choose. About the only major infrastructure difference between Elm Grove and Brookfield is that Elm Grove is served by a community well while the vast majority of Brookfield is on a municiple water system with some exceptions of private wells.

I hope that helps.
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0 votes 3 answers Share Flag
Mon Mar 4, 2013
Jason San Miguel answered:
Hello Mike,

Vacant land is a little behind the ball in terms of sales because of the obvious recession. However, I recently read that new construction is up 35% from last year all across the country. Its not often that big parcels come up in Brookfield but there are always a few floating out there. Regardless of the lack of purchases for vacant land, when it comes to Brookfield, the land comes witha price tag. Feel free to reach me at anytime to receive a complimentary list of availability.

-Jason San Miguel
414-736-0926
jason.sanmiguel@cbexchange.com
facebook.com/jasonsanmiguel
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Thu Jul 5, 2012
Sally K. Hanson answered:
The purpose of an assessment is for a municipality to collect taxes and pay the cost of running the services they provide residents. There is no relationship between assessment and sale price especially now except to say that very very few homes in the 4 county area sell for as much as they assessment. ... more
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Fri Dec 21, 2012
Patrick Cotter answered:
High end Condo's have seen a rise in sales with price slightly up from last year. Where you find problems with price is where there has been large assessments by the condo association causing too many condo's in one project to be for sale. ... more
0 votes 1 answer Share Flag
Wed Apr 20, 2011
Linda S. Cefalu answered:
Hi Kris,

I have been working in the Brookfield area for the past two years. And, yes, there are homes in this price range. If you care to email me with your email address, I would be happy to send them to you. ... more
0 votes 9 answers Share Flag
Wed Apr 20, 2011
Terilynn Geissner answered:
It really depends on where in the Milwaukee Area you are referring to. Home values can range from $200,000 to $350,000 depending on the city or subsurb you are interested in. I would be happy to send you a list of homes to preview if you could provide more details. I may be reached at tgeissner@firstweber.com.
Thank you.
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Wed Jul 28, 2010
Dana1155 asked:
0 votes 0 Answers Share Flag
Sun Jul 25, 2010
Pat & Steve Pribisko answered:
I don't know why local Realtors haven't responded. For anyone who doesn't know, LP stands for "Lead Paint." Are you interested in buying the condo if the LP siding issues are resolved? If this really is a condo, with the customary restrictions, that is it having LP problems, why aren't the other condos in the complex having the same problems? How do you know about the LP problem? Were you in the process of buying the condo when your home inspection identified a LP siding problem? Are you already using a Buyer's Agent or do you need one? As you can determine, your question needs to be more specific to receive answers from local Realtors. ... more
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Mon Jul 5, 2010
Dan Chase answered:
The tax assessment is worthless when trying to determine fair market value. Often that assessment is a few years old. Even if it was correct when done in 2006 it would not be correct today.

Some places do not use 100% market value for assessed value. That also can cause some problems trying to make it fair market value.
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0 votes 7 answers Share Flag
Sat May 31, 2014
Debra B Albert PA answered:
Kip,
I think you two should Email and not argue in a public question/answer forum. Trulia is a public information forum not a bull ring.

Debbie Albert, PA
Coldwell Banker Residential ... more
0 votes 2 answers Share Flag
Sun Jun 27, 2010
Nancy Wagner answered:
If your home purchase is about the investment, rather than the location and lifestyle, then I would not recommend a condo. Most condo owners stay about 3 years, rather than 7 years in a single family home. And at the 3-year point, most of your mortgage dollars will have been spent on interest and not principal. When purchasing any home, decide what is most important, and go from there. It's kind of like thinking about where you'd like to work. Some people used to think it was about the amount of income guaranteed by that employer. Surveys have proven, time and time again, that other factors, such as security, management practices, etc., are more important than the hourly wage. Hope this helps. ... more
0 votes 3 answers Share Flag
Thu Jun 24, 2010
Mack McCoy answered:
The future is uncertain.

The three most important words in real estate: location, location, location.

Houses come with land, which has value, but in down markets, when builders aren't building, it has a whole lot less value.

Fixer condos in Manhattan go for six, seven hundred dollars a square foot.

More importantly, life is short - you work for a living, why take on a second job: living in a property that you don't love because you think it might pay out in the end. Buy something you love, live your life out loud, and you will be rich enough.

I'm serious.
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0 votes 5 answers Share Flag
Tue Feb 4, 2014
Cindy Maclay answered:
from my experience, we us a 72 hr. first right of refusal. Meaning the primary has 72 hr. to remove all contingencies and have financing in place to close. I have never heard of the term "Bump Clause" but it sounds like it is the same thing. ... more
0 votes 3 answers Share Flag
Sun May 2, 2010
Sally K. Hanson answered:
Hi Iris...
The commission for a house that is listed by a real estate agent is set by and included in the price of a house. The reason the agent wants you to sign a buyer agency is so that she can better represent you and advise and negotiate for you...her commission is included. We have heard very occasionally of agents who charge an additional fee to be a buyer's agent......that is the exception rather than the rule and not necessary to pay.
Best of luck to you!
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Sun Feb 21, 2010
Beth Jaworski answered:
That depends Kip. They are not supposed to be, unless it is an exposed basement. With an exposed or english basement, the finished area will generally be counted. As you can see, it will really very from listing to listing, so have your agent check with the listing agent. ... more
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Sat Jan 9, 2010
Anna M Brocco answered:
Sun Jan 10, 2010
Dallas Texas answered:
In this market homes with 1st time home buyers credit we are busy as agents can have 10 showings a day.

No agent would take a home off the market unless there was a contract executed.

Not knowing all the particulars difficult to determine if listing agent is truthful . Go look if you like the home submit a sales offer.

I have been a buyers agent with listing agent telling me they had 10 offers on home , I stated we would skip that home submit another offer NEXT thing I know the sales agent contacting me begging submit an offer... However we pushed on.

Up to you as buyer either go with or move on

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911

http://www.lynn911.com
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0 votes 6 answers Share Flag
Sat Jan 9, 2010
None answered:
The first thing you should listen to is your gut. If the whole thing rubs you wrong, step back. The next thing you should do is hire an agent to represent your interests. Regardless of where the money comes from to pay the agents commission they are obligated by law to represent whomever they have a contract with. If she does not have a buyers agency contract with you, it is her job to represent the seller and to bring the seller the highest offer possible, even if it isn't her listing.

Sometimes agents do use the "so many people are looking at this house" ploy to generate a high offer, but if you find that you like the house and think that it could be a good buy for you, you can be sure that there are other buyers out there thinking the same. The market is slow, but really nice houses priced well have been going quickly and even draw multiple offers.

With regards to the house going in and out of MLS, this can happen. Listings expire at midnight and agents are usually up at that time to input the new listing. It could be most of a day before it is back in MLS. It could have also been the case the the seller wanted to step back and evaluate their position and could have decided to re-list. This decision could have been influenced by the fact that you and possibly others had interest in the house. Furthermore, since you had been through the house when it was listed with an agent, that agent would be entitled to a commission if you bought the house for up to a year after the expiration of the listing provided that agent had listed you with the seller as a protected buyer. This is under the "extension of listing" clause in the listing contract.
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Thu Jan 20, 2011
Catherine "Cathy" Chaudemanche answered:
Hi Kip,

Are you looking at flipping homes or buying a home to raise your family?
0 votes 10 answers Share Flag
Sat Jan 9, 2010
Alan May answered:
procuring cause is a series of events that eventually leads to a closing.

Automated e-mails, even physical showings aren't enough. It's a relationship. Assuming that you haven't signed an exclusive buyer's agreement, any homes that you view from now forward (since you've notified your agent that his services are no longer required) will not be subject to paying him a commission.

Assuming that you might want to purchase one of the homes that he showed you, that might lead to a little more complication... but again, since you "fired him", it's likely that he would not have claim to the full commission... perhaps a partial commission, referral fee, showing fee, or possibly even zero.

There's a lot more that goes into "procuring cause", than a simple showing.
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