N164 W20481 Currant Lane-Jackson $250,000

4 Bedroom, 2.5 bath, single family home built in 2009, professionally landscaped yard. Open concept kitchen, formal dining, first floor laundry room. Part of Cranberry Creek Subdivision with membership in clubhouse with fitness room, pool, party area.

Open House Sunday 7/25 from 12:30-2:00pm. I am hosting.

125 N University #320-West Bend $85,00

3 Bedroom, 2 bath, over 55 condominium overlooks clubhouse and pool area. Underground parking. Nice floor plan with luxurious master bath.

Open House Sunday 7/25 from 12:00-2:00pm. Seller is hosting.

See you there!

So, get out and have some fun in the sun. 

Kari

Credit reporting companies:

• Experian (800) 682-7954 www.experian.com
• Equifax (800) 685-1111 www.equifax.com
• TransUnion (800) 888-4213 www.transunion.com

You can also get a copy of your credit history at the following online locations:

www.freecreditreport.com
www.creditreports.com

What if I find a mistake in my credit history?
You can correct simple mistakes by writing to the reporting company, pointing out the error, and providing proof of the mistake. You can also request to have your own comments added to explain problems. For example, if you made a payment late due to illness, explain that for the record. Lenders usually understand about legitimate problems.

What about my overall (or FICO) score? What does it mean?
Prior to the late 1990s, credit scoring had little to do with mortgage lending. When reviewing your credit worthiness, an underwriter would make a subjective decision based on past payment history. Then things changed.

Lenders studied the relationship between credit scores and mortgage delinquencies and found a definite relationship. Almost half of those borrowers with FICO scores below 550 became ninety days delinquent at least once during their mortgage. On the other hand, only two out of every 10,000 borrowers with FICO scores above eight hundred became delinquent.

When can I stretch the percentages?
Depending on your area's housing market, lenders sometimes will allow you to stretch their allowable debt ratios. One of the best ways to encourage your lender to do so is to increase your down payment, as indicated in the following chart:

Allowable Monthly Housing Expense

Underwriters sometimes also will stretch the ratios for other "compensating factors," including:

• Strong cash reserves after close of escrow
• A new payment that’s only slightly higher than current rent or mortgage payment
• A history of increasing earning capabilities
• A history of an ability to save money
• A large cash down payment

I feel like I've entered the world of voyeurism.  I never thought I would be so interested in what others were doing but I was wrong.  It's like being addicted to a soap opera.

I especially like the postings by my Realtor friends across America.  They post their new listings, their accepted offers, their successes, new buyers, new sellers, their wisdom and ideas, etc. 

Why should you care?  Because they are all saying the SAME THING-the market is finally picking up.  I don't think it will ever rebound to the fast sale, over priced market we had, but that's okay with me.  I'm just happy to know that so many of us weathered the storm and the sun is poking through the clouds.

So, join me on facebook, share what you are doing with your friends, my friends, my friends friends, etc.  

Smiles,

Kari

Statistics show that the spring real estate selling season has begun, at least in West Bend.  Sales and prices of West Bend Single Family homes in March increased from the previous month with the median sales price increasing 4.5% and closed sales doubled, reversing the trend from the previous month.

For the 12 months rolling average ending in March 2009 vs. the previous 12 months, the average price in West Bend for single family homes is up 3.2% according to Metropolitan MLS statistics, an increase from the previous month.  The average price increased from $222,706 to $229,962 and the median price moved up from $192,500 to $198,894 for an increase of 3.3% for the same 12 month period.

At the end of March there were 832 Single Family active listings listed in the MLS for Washington County representing an increase of 180 homes since the end of February.  This raises the supply of homes in Washington County from nearly 9 months to around 36 months.  In West Bend there were 227 Single Family homes available at the end of March, a little less than 10 months worth of inventory, actually very close to the national average.  West Bend has averaged 23 single family homes a month sold in the last 12 months.

For national statistics, please visit our newsletter link.

More good news is that purchasing a home for first time buyers has never been financially easier. First, there are some great deals out there where you can actually purchase a home for thousands less than the current seller paid for it.  Second, asking the sellers to help pay for some of the closing costs is more common than in years past.  Third, the U.S. government will actually give you a tax credit of $8,000, if you qualify.  And finally, you can lock in at an incredible interest rate as little as 4.875%.  If you know anyone who may qualify for this once in a lifetime opportunity, please encourage them to do so.

Finally, the open houses attendance across the area has started to grow.  If you are planning on putting your home up for sale in the next few months, now is a great time to start pumping up that curb appeal.  Email me at kari@kariroehl.com for my free e-Book “450 Ideas To Help Your Home Sell FASTER”. 

Kari Roehl, ABR, CHMS, CRS, EPRO, GRI, SRES, is a sales broker for The Right Address, a boutique real estate company located in West Bend, Wisconsin.   

 Note:  All statistics are courtesy of the Metroplitan MLS

A "short sale" is when a lender(s) agree to accept less money than what is due to them. It is typically done in an attempt to prevent foreclosure and the costs associated with a foreclosure act.  This can include more than one lender if there is more than one mortgage on the home (i.e. equity, credit line, etc.). 

A lender will only accept a short sale if it makes financial sense to them.  The seller of the home (the borrower) must provide a documentation of hardship, proof of assets and other documents to the lender for consideration.  There could also be tax ramifications because the debt you owed is more than you paid back, the amount that was "short" may be taxable.  See The Mortgage Forgiveness Debt Relief Act of 2007 at http://www.irs.gov/individuals/article/0,,id=179414,00.html

If there is more than one lender, negotiations between all the participants can be time consuming requiring multiple levels of conditions and approvals. 

Also,  the buyer often has to wait for many weeks before they find out if their offer was accepted or not.  It is recommended that the buyer research the property title carefully to ensure there are no other liens on the property that would become the buyers responsibility once the property ownership transfers.   This could include back property taxes among other things.

Because of the complexity of these transactions, they have a high failure rate and very often do not close in time to help the seller avoid foreclosure.  Make sure to enlist the services of qualified professionals to help you through the ins and outs of this difficult real estate transaction. 

1611 PRIMROSE LANE $209,900 OPEN SUNDAY 11:30-1:00PM

1316 CONIFER AVE $234,900 OPEN SUNDAY 11:30-1:00PM

7198 N RIVER DR $169,900 OPEN SUNDAY 1:30-3:30PM AND MONDAY 4:00-6:00PM

SEE YOU THERE!

The Milwaukee Journal Sentinel Reports.....

Milwaukee home prices buck trend

By Don Walker of the Journal Sentinel

I compared ten years of the last quarter of the year on Single Family homes in the City of West Bend.  I compared number of homes sold, average days on the market, average list price to sale price ratio and average list price.  Guess what I found?  The most significant change was in the price of the homes from year to year.  However, if you average it, it adds up to about a 4% appreciation on your home every year.   On a  $200,000 home that would be almost a $100,000 gain over 10 years time.  Not a bad investment after all, is it?

Even over the last 5 years, it averages out to about a 5% appreciation rate per year.  So, if you purchased your home in 2003 for $200,000, you can expect it to be, on average, worth about $255,250.  Still a pretty good ROI, don't you think?

Contact me if you want to know what is going on in your community. 

Warm Regards,

Kari

City of West Bend Sold Single Family Homes Last Quarter of Year Comparison

Year	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999
Number of Homes Sold	53	50	57	60	75	60	59	54	55	60
Average Days on Market	88	80	71	47	72	45	58	54	85	60
Average List Price/Sale Price Ratio	.96	.97	.97	.98	.98	.99	.98	.98	.98	.97
Average List Price	199,208	216,410	196,439	213,071	187,335	172,026	158,059	158,833	147,787	140,624
Change in List Price	-8.6%	+10%	-8.4%	+13.75%	+8.9%	+8.8%	-0.5%	+7.5%	+5.0%

Right before we eat, food sitting in front of us steaming hot, we go around the table and state what we are most thankful.  We go pretty quickly since the food is cooling down, but most of them revolve around health, family, things like that. 

This year I am thankful for quite a few things.  Time  spent with my family, fairly decent health,  my blackberry,  a great pair of shoes, a really nice purse, and of course, super great clients and customers. 

It's always fun hearing from the children's table.   Quite frequently they are thankful for the turkey, the mashed potatoes, the pumpkin pie.  But occasionally you get an unusually profound remark and it hits you upside the head with a great big "AHA".   From the mouths of babes.....

Start your own family tradition this year, or borrow mine.  Just make sure to be prepared before the turkey platter is put on the table!

Kari

Also, thanks for everyone who sent in their "entry" form.  For those of you who haven't, I will be having another drawing for an undisclosed gift soon, so get them in to me.

Happy Fall.

Kari

For single family properties, the money is available, generally with at least "good" credit, (no need for great or perfect credit) there are 3% to 5% down payment loan programs, all at reasonable rates, currently in the very low 6's.  True, you will need to verify that your income is sufficient to qualify for the loan terms, and that the property is in reasonable condition and that the appraiser can support the sale price with recent like properties. But those are reasonable requests when you are asking for hundreds of thousands of dollars, If you have no money for a down payment or have poor credit or can not verify your income stream,  your options are now slimmer, but that is fair too, history has shown those loan to have higher risks, and thus a higher potential for default, so we now need to compensate for those risks by asking for a larger down payment or higher rate or both.

The best way to find out what you can afford and qualify for is to talk to mortgage professional.  Ask that loan officer if they are full time, is the office in the metro area, do they fund their own loans, How long has the loan officer and the company been in business?  these questions will help you find the right person to help with the mortgage, and of course,KARI, can help with the Real-estate part!. 

Update... the state bond program WHEDA is suspending funding until the capital markets are stable and the state can secure mortgage revenue bonds at reasonable rates again, stay tuned for current information!  

I also attended the Wisconsin Realtors Association Convention during which I went to three days of classes.  It was exhausting but so worthwhile. 

Also, I just listed another fabulous property.  1316 Conifer Avenue, West Bend, 4 bedroom, 2 bath with expandable lower level.  $242,992

Recent price reductions include 1611 Primrose Lane $214,500- 4 bedroom plus office, exposed ranch.  This is really quite a steal.

Call me if you need anything.......

Open the front door and stand there a second.  Pay close attention to your senses.  What do you see?  This is the first thing the potential buyers will see when entering your home. Where does your eye go?  Is it a good or not so good feature?  Is it bright and open or dark and closed in?  What do you smell?  Over using perfumes, candles or Glade plug ins can be as offputting as smoke, animal odors and dirty laundry.  What do you hear?  The toilet running, the neighborhood kids or  the hamsters squeaking wheel? 

Realtors used to recommend soft lighting, scented candles, baking cookies or bread, soft jazzy music, etc.  Today, we have evolved to attempting to "neutralize" the property opposed to making it homey.  Bright, airy, odorless, and quiet are some of the key ideas. 

Now, look down.  When you crossed the threshold of the door, what did you step on?  If it was a soft cushy throw rug, you are on the right track.

More next time......

Recently I donated blood.  I happen to have 0- (negative), which less than 7% of the population have, but 100% of the population can use. 

You can donate red blood cells, platelets or plasma.  Donors with 0+ or 0- are great for red blood cells, A+,A-, B+, or B- for platelets and AB- and AB+ for plasma donations. 

I try to get to the local blood center ever 8 weeks or so.  It doesn't take very long, it doesn't hurt and it is safe.  Anyone over 17 years old, weighing more than 110 pounds can donate.  There are a few exceptions, which the blood center will help you with.  Things like recent tattoos, piercings, and medicines you currently take.  The technicians (which are really, really nice!) will take a health history, take your vital signs, take your blood and then they give you snacks.  Works for me! 

Think about it, every THREE SECONDS someone NEEDS BLOOD.

Kari

I finally have time to take a breath after last months super busy time.  Now it's time to start with some fresh new listings.  As Ernie would say... Who do ya know wants to buy......or in my case sell a home?

Call me, email me or invite me to lunch (I'll pay..) I'm always happy to help out your friends, family and coworkers. 

Remember, my business depends on you. 

Another new listing.....1611 Primrose Lane, West Bend, WI

4 Bedrooms plus office, 2.5 baths, oversized 2.5 car garage.

Previous Mayors Beautification Award Winner Yard.  Absolutely gorgeous!

First open house will be Sunday June 29th (if it lasts that long!).

Who do you know???.....

Please grab a cup of coffee and sit down to chat with me. 

Today I have 2 closings, yes-that's right, 2 closings.  Good for me, great for you.  It means the market is picking up.  Actually, I have been really busy the last month.  It's good to be busy again.   According to the Wall Street Journal, we have hit the bottom of the real estate slump.  I'm glad it's over and I'm gladder that we never really saw the huge effects in this area that other areas have. 

Enjoy your day and take a look at the following article: