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53713 : Real Estate Advice

  • All7
  • Local Info1
  • Home Buying6
  • Home Selling0
  • Market Conditions0

Activity 178
Tue Aug 11, 2009
Donna Hermsen & Dan O'Brien answered:
Hello Kts,

YES! Building is much more involved than purchasing an existing home so I believe it is even more important to have a Buyer Agent. The builder (or his agent) are representing the builder and you will have no one representing your best interest with the transaction. In most cases the Seller (or Builder) pays for the Buyer Agent fee so there is usually no cost to you for this representation.
I would highly recommend hiring a Buyer Agent with any purchase. It is a very difficult market and Builders are no different than other Sellers, some are in financially difficult situations and may struggle to get the home completed. In this market you need a Buyer Agent more than ever.
If you have further questions or need some assistance, please call, 608-770-1140

Donna Hermsen, Broker, ABR
& Dan O'Brien, Realtor
Bunbury & Associates
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0 votes 3 answers Share Flag
Mon May 18, 2009
Valerie Wersland answered:

The first place you should start with any purchase is finding a buyers agent. A good buyer's agent will be able to assess the home in comparison to recently sold similar properties and give you an educated market value. There are a lot of different variables that go into a market analysis, such as how long the property has been listed, the average days on market of comparable properties that have recently sold and also the current list prices of any other similar homes in that area. If you don't have a buyer's agent, I strongly reccomend you interview a couple and then choose the one you feel will do the best job for you.

Good Luck!

Valerie Wersland
Right On Target Real Estate LLC
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0 votes 3 answers Share Flag
Sun Jun 21, 2009
Matthew Bartlett answered:
Hi Tbomb4000,

This is not unusual for a lender to scrutinize your credit report. I would be honest with them in regards to the credit card inquiries and what your thinking was behind initially applying for them. Leaving that information out can only come back to bite you later with a rejection of financing. Good luck!

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Thu Aug 27, 2009
Michael Rayno answered:
You should go to a bank and ask to talk to someone in the mortgage department. Tell them you would like to get preapproved for a mortgage,it does not cost anything, they will be able to tell you what level of morgage you would qualify for and then you would be able to see what price home to start looking for.
Good luck
Mike Rayno
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0 votes 7 answers Share Flag
Wed Feb 25, 2009
Eric Funk answered:
Why did you bypass the agent to put in your offer? Don't expect to hear anything quickly from the bank - they are generally taking 30 - 60 days to even acknowledge an offer. As you didn't go through the agent that showed you the house to write the contract, his/her commmission will need fighting for. Perhaps they're unwilling to work for free. ... more
0 votes 9 answers Share Flag
Sat Feb 21, 2009
Mark Gladue answered:

Capitol West is actually renting out quite a few condos at 309 W Washington. Also, if you contact brokers who have condos listed in the downtown area, many sellers are considering the option to rent. Here is a link to the Capitol West apartments; Please give me a call at 239-5593 if you are interested in any other possibilities downtown. Thanks-Mark ... more
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Fri Feb 20, 2009
Mike Adler answered:
Call Hide A Way Storage in Middleton for pricing. Use this company before. Phone number is 833-5086
0 votes 0 Answers Share Flag
Sat Jul 23, 2016
Seth Peterson answered:
The main thing you should do is check the Craigslist listings. There are a number of people who advertise their homes for rent on Craigslist. But it's also not a bad idea to search homes that are on the market, and if you find one you like, see if the sellers are open to renting it. ... more
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Thu Apr 16, 2009
Dallas Texas answered:

1) Have your listing agent contact their buyers agent determine if they can get a feel of buyer going up
2) Can you both split $10K - buyer goes up $5k you lower price $5k
RECOMMEND: always rule of thumb if you get an offer usually 1st offer is the best offer, especially in todays times where you can move on with your life or still risk trying to find another qualified buyer. If home close to busy road negative issue with many buyers

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Tue Feb 3, 2009
Mark Gladue answered:

To answer your question we closed on 40 transactions in 2008 and only 2 had a home sale contingency. If the home in question has been marketed and is aggressively priced there is a little more leniency as opposed to a home that is not currently marketed and is not priced to sell in 60 days. Sellers do not like to see a closing date much more than 60 days out and therefore the motivation to sell, if this is "your" home, would be much greater.

On the flip side the seller could also offer closing costs to accommodate your holding costs and therefore you may not need to have the contingency in at all. Without knowing the specifics......hard to say what would be the best way to deal with it. Call me.
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Tue Apr 14, 2009
Charlie Wills answered:
Just ask a Realtor. It looks like you are from Middleton. The list to sale ratio for homes in Middleton this past year was 96.5% and condos were 97.5% list to sale ratio. If you have another area you would like to know just ask myself or anyone here.

I have never heard an appraiser asking for this before, but with all of the new lending rules it might be a new statistic they are looking for.

Charlie Wills
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0 votes 3 answers Share Flag
Tue Apr 21, 2009
Joe Barbera answered:
First of all, refusing to put your offer in is illegal! Once an offer is submitted, your realtor can not take your offer off the table. Your best approach would be to put you disappointment in writing and copy the office broker. In it state the realtor code of ethics, and your belief that your agents interest was noit with you in mind.
Hope this helps, should not be an issue to terminate agreement.
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0 votes 10 answers Share Flag
Sun Jan 18, 2009
Sue Larson Stark answered:
My preference is refinish the floors and add a nice area rug. I have not yet had a buyer that passed up hardwoods for carpeting.
0 votes 5 answers Share Flag
Wed Jan 14, 2009
Debby Thompson answered:
I would ask the agents that you interviewed how many homes have sold over 300,000 in the past 3 months. How many homes are listed in your area over 300,000? This should give you an idea of who is looking or better yet who is buying. So you just have to decided if you will be narrowing your buyer pool. You area maybe OK over 300,000 in Milwaukee that is a hard number right now. So talk with the agents and get number that way you can make a better decision what is right for you. ... more
0 votes 9 answers Share Flag
Fri Jan 16, 2009
Sue Larson Stark answered:
Buyers determine the value of a property not the city's fair market value. Have you had an appraisal done recently to determine if the fair market value is correct? I would recommend having a comparative market analysis (CMA) done by a Realtor. This will compare your home to other homes in the neighborhood that are of similiar size, age and condition.

Then you want to list your home at your best price right from the beginniing. You have your best opportunity to sell your home at the best price within the first 30 days of listing. If you price to high buyers will pass you by and will more than likely not be back if you do a price drop.

If a buyer does decide to make an offer and they are working with a buyers agent the first thing that agent will do is a CMA of the neighborhood to determine an appropriate price for your home based on the current sales in the area.

Put yourself in the buyers shoes (I assume you will be buying another home). Will you care how much the seller paid for the home or how much the seller wants to make on the home. Probably not, you will only care that the price you paid is a good price based on other sales in the area. Hope this helps and best of luck to you.
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0 votes 12 answers Share Flag
Tue Feb 12, 2013
Gail Rutkowski answered:
Madison Magazine did a review of the schools and neighborhoods and suburbs a few years ago. Check out the link below speaking to the issue you are asking about.

I would also advise you to find the census information at with demographics, crime statistics, etc. to help you decide where you would like to live and send your children to school.

It's a personal, financial, & where you may work that usually influences someone what neighborhood they want or can afford to live in. The best way to decide what the schools are like in an area is to visit them personally yourself. Take the time to do this with your children and you may be able to get your best fit from their reaction to the school. Hope this helps!!
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Wed May 27, 2009
Luke Allison answered:
Well, I can actually tell you that rates are currently closer to 5.25 and 5.5 than they are 5.8 - depending on your credit score. Your broker might have their hands tied because whatever lender they have you locked at 6.00% with, you are not going to be able to reduce it. You need your broker to either switch lenders for you or you need to find a new mortgage person. Since you must be on title to a home for 12 months to refi an FHA mortgage, I would seriously tell you that now is the time to do this because it will take you so long to refi the loan.

If you have any questions on your loan or if you would like another price quote for your scenario, I'll be glad to help you. You can send me an email with your credit score and loan amount and I'll price it our for you through my bank. It might help you at least a better informed decision.

Luke Allison
Flagstar Bank
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0 votes 4 answers Share Flag
Mon Oct 12, 2009
Kristi Ross answered:

You can view the link below to see a few in the area that are listed with a criteria match of manufactured home in Dane County.

If you have trouble viewing the list, let me know.

Is there a specific reason for manufactured/prefab? If not, we can discuss other options that may also fit your need.

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Tue Sep 30, 2008
Darren Kittleson answered:
Leslie-It depends upon where you're looking at this. I typically like to seperate the 2 as the statistics are very different between single family and condos. My reason for this is that the buyer profile for a condo buyer and that of a single family buyer it typically very different. In the Madison market, home sales are averaging roughly 133 days from the time they come on the market until they close. Condos, however are over 200 days on market. ... more
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Sat Aug 30, 2008
Alan May answered:
I'm not a lender, but it's my understanding, that unless the "refinance" loan you take out has some sort of pre-payment penalty, you should be able to simply payoff that loan at closing.

It sounds as though your situation would be perfect for a home-equity line of credit (HELOC) to pay off any debt. And there's rarely a penalty for paying a HELOC off.
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