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Home Buying in Milwaukee County : Real Estate Advice

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  • Local Info4
  • Home Buying30
  • Home Selling14
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Activity 165
Tue Sep 17, 2013
Troy Miller answered:
Ben,

You may have difficulty finding a 6 month rental that will end in the winter months....if you are going to rent my guess is most landlords will want to keep you for a year if your lease was starting in July.

The areas you are looking are fantastic communities with great schools for your children. If you'd like to see what is currently available I'd be happy to show you everything in the Whitefish Bay/Shorewood area in your price range.

Troy Miller
Total Realty LLC
414-333-3723
troymiller@totalrealty.com
www.totalrealty.com
... more
0 votes 5 answers Share Flag
Fri Jul 5, 2013
Mona Elmore answered:
If you would like to send me your email address, I would be happy to forward you the listing from the Milwaukee Metro MLS. This would include the history and documents attached to this property. Are you coming to Milwaukee to personally see the home? If not, any real estate agent you hire to write the Offer to Purchase would need to put in the contract documents that you have not personally seen the home and are purchasing it based on MLS documentation only.

Each property in this area needs different repairs. The City currently has the home assessed at $63,800 and it is in foreclosure.

Best wishes. monaelmore@remax.net
www.MonaElmore.com
... more
0 votes 8 answers Share Flag
Sat Apr 13, 2013
Rob Wagner answered:
Your best bet is to go through a Realtor. It costs you as a buyer nothing to work with an agent, and a good Realtor will work hard to help you find what you want.

You have nothing to lose getting info from an agent. ... more
0 votes 7 answers Share Flag
Tue Apr 9, 2013
KerryAnn Douglas answered:
Yes, they are public record. Visit the city of Milwaukee's website at www.milwaukee.gov and go into the city's site not the county's and then click on get property information on the left hand side. I have included the link below hopefully it will work. Once to the page enter the property address and then go to the middle of the page and click on the details for Property Recording, Code Violations, Service Requests and Permits. Click on view under violations and anything with a "N" under final status is still open and needs to be completed.

Good luck and let me know if I can be of any further assistance.
... more
0 votes 1 answer Share Flag
Tue Apr 9, 2013
KerryAnn Douglas answered:
According to the tax records that property is zoned LB2 which is commercial. According to the City of Milwaukee Zoning Ordinances http://city.milwaukee.gov/tableofcontents#Ordinances bed and breakfast appears to be a permitted use. Always best to check with the municipality though...

Let me know if I can be of any further assistance and good luck.
... more
0 votes 1 answer Share Flag
Thu Aug 13, 2015
Geri Schierow answered:
In order to get a correct answer, you should talk to a mortgage loan person. If you do not know one, let me know & I will direct you to a very knowledgeable one.

Geri Schierow
0 votes 6 answers Share Flag
Fri Mar 22, 2013
Mandy Fritsche answered:
FHA requires 3.5% down payment we go down to 580 credit score. We would have to look at your scenario to see FHA would allow you to have 2 FHA loans at 1 time. There is a few circumstances they will allow this in. You could do a loan without him but if it is a FHA loan then we have to include is debt becasue we are in a marital property state but would not be able to use his income. If you are looking outside of Milwaukee County you may be eligible for USDA Rural Housing loan with NO down payment. If you would like to explore all your options please contact me or go to my website to do the online application.

Thanks,
Mandy Fritsche - Prospect Mortgage
Mortgage Loan Officer
NMLS# 557211
262-327-5700 Cell
877-868-9198 Fax
mandy.fritsche@prospectmtg.com
www.MyProspectMortgage.com/mfritsche
... more
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Wed Mar 20, 2013
Rob Wagner answered:
You shouldn't hesitate to mention it to your loan officer. Any changes in income can affect the approval process.

Don't put yourself in a situation that may lead to trouble down the road. ... more
0 votes 2 answers Share Flag
Sat Mar 16, 2013
Elwyn O Jarvis answered:
There are a few nice units for sale in Newport West Condominiums
0 votes 4 answers Share Flag
Thu Mar 14, 2013
Connie Fitzgerald answered:
This is a great question. Has your home already gone to foreclosure? If it has, it would be difficult getting a loan so you would have to attempt paying in CASH as your credit would have been hurt during the process (late payments and so forth). ... more
0 votes 9 answers Share Flag
Sun Feb 17, 2013
None answered:
Hi Peggy,

Yes, you can submit an offer to purchase on that condo subject to the sale and closing of your house. However, until you remove that contingency, you could be bumped off as the primary offer by another buyer. This means that you might have spent money on home inspections, testing and loan applications that, if bumped, you will not get back.

Usually, sellers prefer to see non-contingent offers and might want a higher price from you than if you didn't need to sell, first, especially if your home is not yet on the market.

Jeff
... more
0 votes 5 answers Share Flag
Sun Feb 10, 2013
Rich Moen answered:
Either way works. Things to consider are 1. the listing agent has been employed by the seller. Their loyalties are to be to the seller. That being said, they may be able to work as your buyer agent as well in which case they are straddling the fence as far as loyalty.
A buyer's agent is to always act in your (the buyer's) best interest.
An experienced buyer can probably protect themselves and working with the listing agent is just fine (happens all the time).
If you are an inexperienced buyer I would not recommend you go it alone. Get a reputable, experienced Buyer's Agent who you trust to work with you. The commission is typically paid from seller proceeds so you generally do not have any additional out of pocket cost than you would have working with the listing agent. For more information on buyer agency contact me directly and I can give you more items to consider.
rmoen@remax.net
... more
0 votes 11 answers Share Flag
Tue Jan 22, 2013
Troy Miller answered:
Melissa,

The short answer is that you'd rather buy the smallest home on the block as the larger homes will keep your value up and higher than usual. The biggest challenge lately with buying the biggest/best home on the block is getting it to appraise out when you get to that point. If you do plan to pursue this home or any home definitely have a market analysis prepared by your agent so you know what the home should be worth in this market and also to make sure there are enough comparable properties to that you don't run into appraisal problems.

Troy Miller
Total Realty LLC
414-333-3723
troymiller@totalrealty.com
... more
0 votes 4 answers Share Flag
Wed Jan 16, 2013
Rodney answered:
Hi Kyle,

My name is Rodney, Owner/ Agent of All Transaction Realty LLC, and I would be more than happy to help you find small multi-family properties for your investment profile. Please give me a call or email to further discuss what you are looking for.

Rodney Morris III
ALL Transaction Realty LLC
www.alltransactionrealty.com
414-380-9212
rodney@alltransactionrealty.com
... more
0 votes 6 answers Share Flag
Tue Oct 8, 2013
Liz Apuli answered:
Hi,
Wauwatosa has a lot of older homes...often they didn't build 2 full baths. Many have been renovated though. You can find some though. If you're open to different areas, I would look at those areas and see where you can get the most house for your money. If you're not working with an agent, I'm happy to help. Please call, text or email. ... more
0 votes 10 answers Share Flag
Thu Nov 29, 2012
Matthew Heitmann Team answered:
Hi Barb,

With the right qualifications, i.e. credit score, income, debt/income ration, most anyone can get approved for a second home. That being said, most people don't have enough income to qualify for two homes. Until your name is removed from the jointly owned home, it will be more difficult to get approved.

Regards,
Michael Collins- SFR, BPOR
Broker
Rock Realty Wisconsin
608-921-8536

My Trulia Blog:
http://www.trulia.com/blog/RockRealty/
... more
0 votes 1 answer Share Flag
Wed Nov 14, 2012
Troy Miller answered:
You should start by interviewing several agents to find a good fit. Its more the agent then the specific company that will service your listing/purchase. As in any business there are the workers and there are the slackers.

Finding a home should not be an issue as there is still ample inventory....selling is the harder part of the equation especially coming into the winter months which traditionally are slower.

If you have any specific real estate questions or would like to discuss further either selling or buying please feel free to contact me anytime.

Troy Miller
Total Realty LLC
414-333-3723
troymiller@totalrealty.com
www.totalrealty.com
... more
0 votes 2 answers Share Flag
Tue Nov 6, 2012
Graig Goldman, Alex Segal, Andrew Weaver answered:
Jamie,

I'd be more than happy to recommend a few lenders for you to speak with. If you'd like to email me or call, I'd be happy to give you three or four names of lenders we trust and use frequently.

Hope to talk soon!

Graig
414-431-3845
ggoldman@remax.net
... more
0 votes 1 answer Share Flag
Mon Nov 5, 2012
Dan Tabit answered:
jdesjardin,
Banks typically use the middle credit score of the lower borrower. If you intend to rely on his income, he will need to be on the loan. Lenders are extremely cautious these days. The credit score the bank will use will be the one that either they pull, or the one pulled by your mortgage broker. Generally if your score is 740 or above you will get the best rates and terms available. If it dropped below that a bit, it may not matter too much.
In order to qualify for two mortgages at the same time, you will need enough income to handle both and meet the lenders debt ratio guidelines, around 45% of your gross income or less. If you have the other house rented out, 75% of the rental income could be added to your gross income for the calculation.
You probably should meet with a lender in your area right away to go over your boy friend's credit and see if there are steps he can take to improve his scores. Best of luck.
... more
0 votes 3 answers Share Flag
Mon Jun 16, 2014
Derse Smith answered:
Which construction project are you referring to? If it's the top of the River Resnaissance bldg, that is a private penthouse resisdence.

Derse Smith
First Weber Group
414-698-3242
dsmith@firstweber.com
... more
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