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Madison : Real Estate Advice

  • All321
  • Local Info36
  • Home Buying101
  • Home Selling23
  • Market Conditions22

Activity 176
Mon Oct 11, 2010
Beth J. Boeing, GRI, CRS, ABR, E-Pro answered:
Hi Mary,

It depends on what the Assessor thinks about the value of the improvements you make vs other like kind properties in the area.

Very best,
0 votes 3 answers Share Flag
Fri Nov 19, 2010
Jim McCowan answered:
I din't think there's ever been a restriction on how many properties an individual can OWN. What they do with them may be a different story. You can always check with your local authorities. ... more
0 votes 6 answers Share Flag
Fri Aug 20, 2010
Jim Todd answered:
Hello Tommie,

I believe that would be West High School, located at 30 Ash St.

0 votes 2 answers Share Flag
Thu Sep 30, 2010
Bill E answered:
are you working with a Realtor?

They can shed some light on the neighborhood. There are lots of houses for sale all over the place. Some neighborhoods more than others, some for no reason at all, others for very good reasons. ... more
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Tue Aug 17, 2010
Bill E answered:
Yes...and no.

You can't get an adjustment for this year. However, next year you can request a lower assessment when you receive the little card from the City of Madison Assessor's Office with your assessment on it.

If they don't cooperate, you can challenge it at a hearing. Bring your HUD statement and appraisal. You will likely get some kind of reduction. For maybe one year. But, if you fix the place up, get permits, a neighbor sells for more, etc...they will just raise it right back up.

Can't Fight City Hall
... more
0 votes 4 answers Share Flag
Sat Sep 11, 2010
Loan Getter answered:
Good afternoon, my name is Tim Anthon and I am a Loan Officer for Bank of America. I would like to advise you on your options for the purchase of the duplex. You do have an option of going FHA but you are right there are some restrictions. If you would like you can contact me and we can go over your options. I can be reached on my Cell 608-575-8550 or my office 608-232-0153. Thank You and I hope to speak to you soon! ... more
0 votes 2 answers Share Flag
Thu May 26, 2011
Judy Braund answered:
Unfortunately, it is a Buyer's market. You are competing with foreclosures, short sales and other very
negotiable and motivated sellers. Your agent can do a comparable market analysis (cma) and give you a good idea of what price it would take to get your home sold. Also important are curb appeal, staging of your home,making sure all defered maintenance is taken care of and your home is in impeccable condition inside and out. Items to consider are: fresh paint, deep cleaning entire home, cleaning of carpet, trimming of bushes, trees, etc. There are many homes on the market so buyers can be fussy and they are. I hope this helps. I wish you good luck.
Judy Braund, Keller Williams Crossroads
... more
0 votes 8 answers Share Flag
Fri Dec 31, 2010
Jenny Persha answered:
You should want a buyer's agent. If your agent is acting as a subagent (the listing agent also working with the buyer), you can expect to be treated honestly, but the subagent owes loyalty to the sellers and their agent and can’t put your interests above those of the sellers.

The link is for a blog explaining representation. Many agents, such as myself work exclusively with buyers.
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Fri Apr 28, 2017
Christine Moran Realtor & Notary answered:
Depends on your contract. Contact a lawyer for a free consultation you might be able to get damages.
0 votes 11 answers Share Flag
Tue Jun 1, 2010
Joseph Domino answered:
While the rules are slightly different in each area, if it is repairs you are seeking you should ask for repairs. Asking for a lower price is in effect reopening negotiation and changes the terms of the contract. If you want a lower price you should amend the existing contract. Of course the Seller may not agree to your new terms.

Repairs and Purchase Price are two separate items.
... more
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Tue Jun 1, 2010
Chris Bennett answered:
Do you have a 'Buyer Agency' agreement with a Realtor? They should be able to walk you through the details of the contract as related to the deadlines and contigencies. If you do not have a 'Buyer Agency' contract I would be glad to talk with you about the situation. It might also be beneficial to involve your lawyer at this stage if you are considering walking away from the offer, especially since the seller has the right to cure any defects found. ... more
0 votes 6 answers Share Flag
Mon May 4, 2015
Guy Gimenez answered:
As long as you're not planning on getting retail price for your home, this may be a good way to sell. Investors typically pay approx. 70% of a home's market value when paying cash, or slightly more if the seller is offering to sell on terms (lease purchase, owner finance, etc.) and less if the home needs lots of repairs. ... more
0 votes 9 answers Share Flag
Mon Dec 20, 2010
Joan Braunschweiger answered:
Yes to all. It can be price, size, location, maintenance or that the house just does not fit.

I've had buyers who have rejected houses based on how they are oriented toward the sun.

That being said, there are specific properties that people know why its not selling and you hit on pretty much all the factors that may make a property less desirable.
... more
0 votes 10 answers Share Flag
Mon May 10, 2010
Don Tepper answered:
Check with a local Realtor. He or she will have a complete (or nearly complete) list of foreclosures/REOs that are now available.

Anything that's listed with be on your MLS. And that includes foreclosures (as well as short sales and traditional sales).

If it's not listed on the MLS yet, then it's not available to be purchased.

By the way, do NOT--repeat do NOT--use RealtyTrac in your search. That information is incorrect, misleading, outdated, and just plain bad. A Realtor will have good, up-to-date information and it won't cost you a penny.

Hope that helps.
... more
0 votes 3 answers Share Flag
Wed May 26, 2010
Mark Gladue answered:
You can use the city's website and look under property details if you are not going to use an agent. I would recommend using an agent as they can do all of the research for that area and give you a much better idea without you doing all of the work. If you would like I would be more than happy to help. You can reach me at 239-5593 or e-mail me at Thanks. ... more
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Wed Apr 14, 2010
Linda S. Cefalu answered:
"Closing costs", no. Commission, yes.

0 votes 3 answers Share Flag
Tue Apr 6, 2010
Amber Huemmer answered:
Good morning,
I completed a search for you and there are currently no active available condos on Morraine View Dr. Where did you find this posting?
0 votes 2 answers Share Flag
Thu Aug 19, 2010
Chris Covalle MBA, CPA answered:
Hi Help, your best bet may be to look into securing the mortgage in your name only. Depending on the split of the $128K income and what your liabilities are on the credit report you may be able to secure 90% Loan to Value financing. IPlease feel free to call or e-mail me w/ any questions and I can run some calculations for you to determine likelihood of getting this done w/ your info only. Thanks, ... more
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Sun Feb 14, 2010
Pat & Steve Pribisko answered:
Sat Feb 13, 2010
Don Tepper answered:
If you're selling, you can set any price you want to. I'm guessing she's recommending a lower price and you want a higher one.

I can't advise you about the law in Wisconsin regarding cancellation of contracts. You need a lawyer to answer that. However, on the one hand, it's your right to ask any price you want on the house. Any price. Even if it's an unrealistic price.

On the other hand, an agent has the right not to take a listing--or to request cancellation of the contract--if she doesn't agree with you.

You've got two course of action:

First, you can ask the agent to cancel the listing contract. If she hasn't signed it yet, then (again, not legal advice) there's no contract. If she has signed, you can ask that it be cancelled. If she balks, talk to her broker. Explain the situation. Then find an agent who will list at a price you wish.

Second, you can recognize that your agent is probably correct in the price she wants to list it for. Did she show you the comps? Did you take a look at the comps? Did you actually look at some houses currently on the market in your price range? In short, did you verify that the price you're seeking is reasonable? In today's market, many agents will not accept overpriced listings. They know they won't sell, and they won't spend their time and their money marketing them.

Those are your two choices. Bottom line: The price you are seeking probably is too high. But verify it by looking at the comps and what's currently on the market. Then select one of the options above.

One other tip: Never, never, never sign any contract that has any blanks in it. Never. It's very dangerous. Cross through any blank and initial it. Or, better, don't sign. And, if that constitutes legal advice, so be it.

Hope that helps.
... more
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