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Home Buying in Racine County : Real Estate Advice

  • All8
  • Local Info0
  • Home Buying4
  • Home Selling1
  • Market Conditions1

Activity 26
Thu Mar 28, 2013
Hello Jerilyn: I don't know of any special loans but the regular loans that most people know about seem like they would fit. Conventional, FHA, FHA 203k rehab, USDA Rural Housing. Let me know if you would like to go over your options.
Mandy Fritsche, NMLS# 557211
Sales Manager – Mortgage Loan Officer
Prospect Mortgage
262-327-5700 Cell, 877-868-9198 Fax
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Fri Aug 9, 2013
Sunnie Zemaj answered:
The term "nice" is vague.Please send me your criteria (neighborhood,area,school district,price range,etc).....I would be more than happy to assist you!

0 votes 1 answer Share Flag
Tue Apr 9, 2013
Matthew Heitmann Team answered:
For lower credit scores, it might be a good idea to check with a mortgage broker. They often have more programs and mortgage companies available to them. A company I have sent my buyers to is linked below. ... more
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Sun Jun 3, 2012
Tim Moore answered:
Not sure what you're asking. Accord? I am not sure why a listing agent would require to be present for a showing when Fannie Mae is the owner. Often Fannie Mae has special keys installed or they want the listers to use a special combo lockbox but I have never seen a lister needing to be present. maybe just a control freak Realtor. ... more
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Sat Aug 1, 2015
My NC Homes Team answered:
Yes. Typically this is not the listing agnets choice, but rather a requirement of their seller.
0 votes 9 answers Share Flag
Sun Jul 15, 2012
Amy Gutschow answered:
So amny factors to weigh in but I would make sure they are easily available and have great web exposure to start....
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Tue Mar 15, 2011
Dallas Texas answered:
Confused are you wanting to purchase another home in CO I am assuming ?

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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Mon Nov 29, 2010
This is a tough call. Generally when someone declares bankcruptcy, they look for well established credit afterwards. Does he have an explanation for having a repo after a bankcruptcy, and how long afterwards was it? Seeing as you have had issues before, whether they approve you or not, you should take a hard look at what you are doing, and make sure that you feel comfortable with the payments you will have, and your debt ratio. There are times that desktop underwriting will approve a ratio up to 55%, but after having taxes, social security, possibly insurance and other things deducted, you are not left with that much to pay your other bills and buy food. I would say that if your debt ratio is relatively low, let's say a total of 38% including the new payment, you should be fine. That is the old fashioned ratio, and it's possible that we never should have gotten away from that. Even if you put a minimum amount down, you are paying off principal with every payment, and you wouldn't want to lose any of that if you couldn't make your payments. ... more
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Sun Apr 8, 2012
David Bellovary answered:
Dear Joy,

Absolutely, you should be talking to a local lender. As much as everyone thinks that nationwide/internet based lending is the way of the future, there is something still to be said for having a real live loan originator that you can personally talk to when something "screws" up. When you never see or meet that person, and only communicate through emails and voice messages, it is often very nerve wracking. Considering that this person is helping to coordinate what may be your largest purchase of a lifetime, I feel it is best to have them local rather than in another distant city or state. Add to that the differences in state lending laws and practices which can create some very interesting problems. Many states are what are known as "escrow states", which Wisconsin is not. Having lived in both types of states, I can tell you that the way a real estate transaction is closed in Wisconsin is totally different than it is in California. If you are going to use an out of state lender, make sure they understand the differences. Otherwise you might end up at a closing table in Racine waiting for funds that are delayed for hours or days.

If you need some names of reputable lenders in the area, call or email me and I will be happy to supply you with a list of folks that will treat you right. Lots of luck with your move!

Dave Bellovary
Broker Associate
RE/MAX Newport Realty Corp
Racine, WI
262-939-0935 (Direct)
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Sun Jul 11, 2010
David Bellovary answered:
Dear Pest 947,

I checked the local Multiple Listing Service's records and found that there were 96 single family homes sold in Waterford during the last year. Without doing any great mathematical calculations, it appears that the vast majority of the properties sold within 2-3% of the list price at the time of the offer. Of course, there were a few that sold for 5-10% of the list price, but they were the exceptions.

The key to selling a house in any location right now is pricing it correctly to begin with. A competent, experienced sales person should be able to determine the proper list price for you by performing a Comparable Market Analysis (CMA) of your property. This report takes comparable, recently sold properties, and compares them to your property to determine your home's value.

In addition to knowing at what price to list your property, the next absolute requirement to successful selling is condition. With sooooo many foreclosures on the market, you have to make your home stand out from those distressed properties. Many buyers do not want to look at homes that are in need of repairs. If they do want to consider doing some work on their newly purchased home, they will buy a foreclosure at a greatly reduced price. If your home is in poor shape, and you can't or do not want to spiff it up, then you have to price it with the foreclosure properties. Otherwise, make those repairs that you have put off for much too long, slap on a fresh coat of paint, clean the windows, replace/clean all the flooring, dehumidify the basement, and do all those other things that you would want done if you were the buyer. Remember, it is still very much a Buyer's Market and you have to convince them to buy your property!

If you need any help with that CMA, let me know (no charge),

David Bellovary
Broker Associate
Certified Distressed Property Expert (CDPE)
RE/MAX Newport Realty Corp
262-939-0935 (Direct)
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Sat Sep 18, 2010
Patrick Thies answered:
You can always ask, but probably not. The banks order the BPO to find out the current market value for that area and then use it to decide if the offer that was submitted is within reason. The banks do not have to accept short sale offers. If they feel that the offer is too low, they can counter the offer to get closer to fair market value if the BPO is higher, or they can reject the offer completely and foreclose on the property if they feel that they can get more going that route. ... more
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Thu Apr 22, 2010
Joan Braunschweiger answered:
I am not sure what statistics will show you.
You need to interview agents. Interview them until you KNOW you have found the right one. Be picky, take your time and don9;t settle or get pushed into anything.
For the largest purchase of your life (at least for most people), it pays to be picky. The difference between a great agent and a mediocre (or worse) agent is like night and day.
Remember the agent works for you so you have to think of it like they are interviewing for a job, which is in fact what they are doing.
Agents should not only be knowledgeable but they should be willing to answer any and all questions you have thoroughly and patiently. If they don't know the answer, they should say "I don't know, but I will get back to you ASAP" and then do it. They should be flexible (within reason) about working around YOUR schedule.
They should listen to what you say and stick with it. If they don't (say on price) they should explain why. All phone calls and inquiries should be returned on a timely basis.
They should be willing to take you through and explain the process thoroughly from beginning to end.
You need to be able to trust your agent completely and know, without doubt that they are advocating for you.
I hope I helped at least a little.
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Fri Apr 16, 2010
Don Tepper answered:
There may be a mathematical average. Who knows? 8%? 5%? 2%? Maybe they're paying above asking price. I can identify areas where homes are, on average, selling for more than their asking prices.

It really, really, really doesn't matter what the mathematical average is. Not unless you're an economist doing research.
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Mon Mar 22, 2010
Anna M Brocco answered:
Since no local answers yet--any local agent can answer your question--contact any realty office(s) and inquire or contact any local Trulia contributor direcly and ask.
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Wed Feb 24, 2010
Joseph Domino answered:
Probably not. The property is probably listed at a price where the Seller has no room to give and accepting a low bid will kick in the Short Sale. Your agent should be able to find out what the Seller owes on the property and determine how low they can go. If you want to bid low, you might get it, but you may have to endure the lengthy Short Sale process to get it. ... more
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Thu Apr 8, 2010
Mini Samuel answered:
Im not sure what sort of restrictions you are referring to..Please call me (262) 960-0468 and I can address all the questions you may have..Thanks! Mini
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Mon Nov 23, 2009
Grant Brunner answered:
A short sale is a sale of real estate where the sale proceeds fall short of the balance owed on the loan. This tends to happen when the barrower can not make payments on the mortgage loan and the lender will decide that selling the property at a small loss is better than pressing the current debtor. This process avoids a foreclosure and both parties must consent to a short sale. ... more
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Tue Oct 13, 2009
Kathleen Lordbock answered:
I can only hope that this was done through a REALTOR, had a time limit on the response and that you included earnest money as part of your sincerity in purchasing.
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Fri Sep 25, 2009
Julia A answered:
In this economy it's almost impossible to get a listing and sell it yourself (i.e. get buyer's commission too) within 3 days. This is how long it takes before a real estate agent is legally obliged to place it on MLS . MLS listings by nature require the presence of buyer's commission. Thus it’s practically not possible to lose house due to listing's agent's greediness.

To make sure your property is priced fairly, ask for comparable property analysis in the area. You can interview more than one agent to make sure the data is consistent.
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Thu Oct 8, 2009
Thomas P. Leisle Jr. answered:
Dear Jennifer,

First, it doesn't matter. What does matter to you is what the house is worth on the market today and, more importantly, what it is worth to you (or more appropriately, what you can afford to pay).

Having said that, however, the information is recorded with the Racine County Register of Deeds and can best be accessed by ordering a Title Report from a title agency. This will also, and most importantly, tell you definitively who the owner is so as to ensure that the person to whom you make an offer is actually able to deliver clear title to you.

Best of Luck.

Thomas P. Leisle Jr.
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