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Milwaukee : Real Estate Advice

  • All333
  • Local Info34
  • Home Buying122
  • Home Selling26
  • Market Conditions9

Activity 219
Sun Mar 18, 2012
Ray Wilson answered:
Do you mean investor or someone who is selling a home that has been flipped?
0 votes 5 answers Share Flag
Fri Mar 9, 2012
Linda S. Cefalu answered:
Dear Jerome,

While as real estate agents, we are forbidden by law to comment on whether or not a neighborhood is good or bad, I can tell you that Washington Heights still has a great reputation in my circle. The best way for you to determine if it is right for you is to drive around the area yourself and see if it suits your needs.

If you want to get crime statistics, you can call your local police department or visit the internet at www.neighborhoodscout.com

If you need assistance in locating homes for sale in the area, I can help.
... more
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Fri Mar 9, 2012
Deb Wolf answered:
The following zip codes had the highest percentage of change in number of closed home sales from the previous year: 53154 (Oak Creek), 53204, 53205, 53214 (West Milwaukee, and 53225. That being said, there is plenty of inventory in the Milwaukee area and I continue to see the areas of Oak Creek, Franklin, Bay View, Wauwatosa and West Allis having homes priced right and those areas continue to grow. These are the likely areas to appreciate the most in the next 5 years, in my opinion. The communities are continually improving and updating. ... more
0 votes 2 answers Share Flag
Thu Mar 8, 2012
Deb Wolf answered:
What an exceptional Buyer's agent will do for you:
1. Represent you and your best interests, not the sellers
2. Help you create a plan based on your wants and needs to find you the perfect home
3. Negotiate the best price possible since they aren't working for the seller
4. Using the criteria you provide, they search all possible listings and properties
5. With their experience they can point out the strengths and weaknesses of each property
6. Give you the truth about a properties value, not its perceived value in the eyes of the seller or listing agent
7. Help guide you through home inspections, sewer scopes and repair negotiations • Submit offers promptly and professionally
8. Provide honest, complete financial information about the neighborhood & how this can affect your future
9. Respond honestly and accurately to your questions
10. Refer you to a lender that specializes in first time home buyers to find the most favorable loan for your particular situation
11. Review HUD-1 settlement statement for accuracy
12. Most importantly they keep your personal information private from the seller and other agents, something listing agents are obligated NOT TO DO!
... more
0 votes 4 answers Share Flag
Tue Mar 6, 2012
Trulia asked:
What are some things to be aware of? What are some tips when negotiating a lease?
0 votes 0 Answers Share Flag
Tue Mar 6, 2012
Betsy and Ken Head answered:
There is not a typical process in buying a short sale, first you get an accepted offer with the seller and then it goes to the bank for final approval and that can take allot of time.

Ken@ccrelocation.com
... more
0 votes 3 answers Share Flag
Mon Mar 5, 2012
Bob Haglund answered:
Don't agonize over petty details and amenities that might have you miss or delay a great opportunity in the grander scheme of things. And hire a Buyers Agent to help with the entire process from start to finish. Please make sure that you have a SOLID pre-approval in your hands before you begin looking. Your search will go much better and avoid potential 'gotch-ya's if you follow these tips. Good luck! ... more
0 votes 7 answers Share Flag
Sat Mar 3, 2012
Bob Haglund answered:
Possibly ALL costs incurred. It pays to shop more than just the rates when considering a mortgage. You need to ask up-front but know that you are entitled to a full disclosure prior to closing. Did you know that often times the Seller may closing costs on behalf of a buyer? May be a better use of your cash/funds to pay a little higher purchase price but keep some of your cash for projects that come up after closing. ... more
0 votes 2 answers Share Flag
Sun Mar 4, 2012
Eric D Lenz answered:
Clean, paint and repair are probably the most cost effective. De-clutter. Inside and out. Replace worn carpet. These are ways to increase the value MORE than the cost of doing it. Other things can increase the value, but will COST more than the amount of increase. ... more
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Thu Mar 21, 2013
Fran and Mark Redding answered:
Hi Edna

Sorry to say but ITIN loans are a thing of the past. Between the mortgage crisis an 9/11 lenders are much more discerning than in the past and when added in to Homeland Security concerns about aliens it is almost impossible to get this type of loan.

Fran and Mark Redding
Prudential Fox & Roach, Realtors
1010 stonyhill Road
Yardley, PA 19067
215-321-3307 Direct
215-208-7169 Cell
www.franandmark.com
... more
0 votes 2 answers Share Flag
Sat Mar 10, 2012
Linda S. Cefalu answered:
Prior to purchase I have had buyers come to me after using the online mortgage calculators. The issue is that they do not tell the whole story. Buyers need to be fully informed before moving ahead. Including taxes, hazard insurance, possible flood insurance and pmi are a must in determining whether or not they can afford the home.

Some surprises after purchase may include not having a "broom swept home". Buyer then has the task of removing old paint cans, wood, garbage and the like- sometimes at a premium cost to the buyer. Make sure you take your buyers through for a final walk through. This will help to alleviate some of the problems.

How about moving in during the winter and a snow storm the following day and suddenly the realization hits..........we don't have a snow blower or a shovel!

A buyer who doesn't hire a great inspector. They choose to go the cheaper route. Well, you may just get what you pay for. The after moving day and you wake up hungry. You turn on the stove and much to your surprise the burners aren't working. Well..........let's go look at the inspection report. Hmmmm...doesn't appear that the inspector checked the stove.

I once had a buyer that moved in and heard chirping all night. They called a pest control company thinking it may be a bird or squirrel or some other critter. As it turned out, it was the smoke detector battery. When the battery goes dead, it chirps!
... more
0 votes 1 answer Share Flag
Mon Feb 13, 2012
Tim Moore answered:
Why the question mark after the statement? I am confused. Are you telling us you're looking for a house or asking a question and I find it interesting a mortgage broker is looking for owner financing in a time when rates are under 5%. ... more
0 votes 5 answers Share Flag
Wed Feb 1, 2012
Roland Vinyard answered:
Not being familiar with your locality, I can only give a general answer, and that would be "Probably not". If you spend $15 or $20000 on a garage, it will raise the value of your property - maybe to half of what you spent. If you have need of the larger garage, then that's another story. It is what I term "lost capital". ... more
0 votes 6 answers Share Flag
Wed Jan 18, 2012
Troy Miller answered:
Jessica,

If you sign a buyer agreement with the agent they are contractually obligated to represent you and your best interests, not the sellers.

If you feel uncomfortable with the relationship between that agent and the sellers you can sign a buyer agency agreement with any agent. If you've already seen the home with that agent there may be procuring cause issues but that will be for the agents to work out and not your concern.

If you have any questions please feel free to contact me anytime.

Troy Miller, ABR, RNG
TOTAL Realty LLC
414-333-3723
troymiller@totalrealty.com
www.totalrealty.com
... more
0 votes 9 answers Share Flag
Sun Dec 25, 2011
Kris Plechaty answered:
Good Morning Bill!

It sounds like the closing on this house may not happen! Short sales can and do typically take longer to close than the non-short sale transaction; however, buyers typically have a threshold for patience that may expire after a 6 month wait (I know that I would be less than thrilled waiting 6 months for a home to close!).

If you really love this house and it's "the one" than carry on and renew the contract. However, keep in mind that the New Year will bring many new homes on the market...you may find new and better opportunities in a non short-sale home...one that will allow you to close in a more realistic time frame (45-60 days).

Happy Holidays....Merry Christmas! May the New Year bring a new home for you!! : )

Kris Plechaty - First Weber Group Realtors
262-720-5157
kplechaty@firstweber.com
www.krisplechaty.firstweber.com
... more
0 votes 13 answers Share Flag
Thu Dec 15, 2011
Bill Eckler answered:
Sounds like your average, every day real estate professional in the states......
0 votes 4 answers Share Flag
Thu Dec 8, 2011
Linda S. Cefalu answered:
Snagy02,

You cannot do it on your own. You would need to list with someone that is a Member of the REALTOR'S® Association. There are some limited services companies that will list for you for a flat fee. Make sure you really do comparison shopping before listing with anyone. Ask many questions before making your final choice.

Good luck on selling your home.
... more
0 votes 6 answers Share Flag
Sat Nov 23, 2013
Suzanne MacDowell answered:
Bill - are you working with a realtor? You should be! The answer to your question is, logically, it is more beneficial to do the short sale, but the banks are overwhelmed and, since they are being 'bailed out' by the government they get their money either way so they just really don't seem to care one way of the other. However it is more beneficial for YOU too to have a short sale on your record rather than a foreclosure. You really need to be working with a team of professionals, including a realtor and an attorney, who are very, very familiar with short sales and negotiating them! Believe it or not, five months is not unusual. And more than likely the bank will keep putting the foreclosure off as long as the offer is on the table. ... more
0 votes 9 answers Share Flag
Tue Jul 16, 2013
Shane Milne answered:
You are permitted to obtain a second FHA insured primary residence loan when the existing home no longer meets your family’s needs due to increase in the number of legal dependents. Documentation of the increase in dependents, evidence of the current home’s size and failure to meet your family’s needs, and at least 25% equity (or you paying down the mortgage to where you'd have 25% equity) would be required - with the 25% equity you'd also be able to rent out your current home and use the rental income to help offset your current mortgage's payments as well.

The question is... do you have the 25% equity?

With 3% down & conventional financing you'll need a middle credit score of at least a 680 that I know of and a 720 score with most lenders.
... more
0 votes 6 answers Share Flag
Sat Oct 15, 2011
Maureen Francis & Dmitry Koublitsky answered:
Not sure what you mean by "claim property taxes"? Are you wondering if the taxes are a deduction on your federal income tax?
0 votes 1 answer Share Flag
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