Oconomowoc’s location is idyllic for both rural and metropolitan interests and further, offers the best amenities of both. Just 35 miles west of Milwaukee, 5 miles east of Madison, and 120 miles north of Chicago, Oconomowoc is located in close proximity to some of the Midwest’s most esteemed cultural epicenters, as well as maintains a strong culture, vibrant economy and unmistakable smaller city charm all its own. The area includes the City of Oconomowoc, Towns of Oconomowoc, Okauchee,and Summit, and Villages of Dousman, Lac LaBelle, and Oconomowoc Lake.

Thursday, August 8, 2013

How can we sell our underwater home?

How Can We Sell Our Underwater Home?

How can we sell our underwater home? Today’s question :

Q: Is it possible to sell an underwater house without emptying your bank account through creative use of loans?

My wife and I need to sell our house in order for me to take a job out-of-state. We consulted a local realtor, and she estimated that we could lose as much as $37,000 on the sale. We have that much money, but don’t want to empty our bank account (this is part of our retirement savings). We also don’t want to stiff the mortgage holder. Are there loan programs that would allow us to sell the house, supplement what we receive from the sale with the loan funds in order to pay off the mortgage, and allow us to pay off the supplementing loan in a way that would keep us from losing all we’ve saved?

A: I’ve done short sales for owners who were moving out of state for employment reasons. That qualifies for a hardship.

They were also current on their payments but because their house was not worth what they paid, they had no choice. Is your retirement money in a 401K or other type of retirement account? Typically they bank will not require retirement money to be accessed to pay what you owe. I’d be happy to talk with you about possibly doing a short sale. Another option is to talk to a creative lender.

– Ginny Vickers

Welcome to Wisconsin Real Estate
RE/MAX REALTY CENTER, Real Estate in Wisconsin

Thank you for visiting our REMAX REALTY CENTER, Real Estate in Wisconsin website.
Please feel free to contact us for any of your residential or commerical real estate needs including an online market if you are a seller, or finding a home if you are a buyer.

Our real estate focus in the Waukesha County, Milwaukee County, Lake Country, Jefferson County, Dane County, Dodge County and Washington County areas. Several agents in the office also their IRES designation (International Real Estate Specialist) so they can assist you with all your real estate needs in Wisconsin, the USA or anywhere in the WORLD!

When you are seriously looking or just browsing at real estate in Wisconsin, RE/MAX REALTY CENTER, Real Estate in Wisconsin, is the BEST resource to help you with all your needs and questions, whether a first time home buyer, relocating to or from the beautiful LAKE COUNTRY area, looking to invest or explore foreclosure opportunities or just thinking ahead to the future.

Lisa Bear is the broker/owner of RE/MAX Realty Center, Real Estate in Wisconsin (262-893-5555) is an experienced real estate agent in Waukesha County and the entire Milwaukee Metro area. Lisa thinks "outside of the BOX" and encourages her agents to do so as well. If you want creative options and exceptional marketing and service - look no further!

The RE/MAX Realty Center Office, has experienced agents with expertise in luxury home marketing, lake property experts, foreclosure and short sale specialists, investment and property management brokers and commercial brokers.

Our agents areas of service include, but are not limited to:
The prospering communities of Waukesha County including Delafield, Waukesha, Oconomowoc, Pewaukee, Waukesha, Sussex, Wales, New Berlin, Dousman, North Prairie, Mukwonago, Chenequa, Menomonee Falls, Brookfield, Elm Grove, Okauchee, Eagle, Muskego and Merton.

Great municipalities in Milwaukee County including Milwaukee, South Milwaukee, Wauwatosa, Hales Corners, Greenfield, Glendale, Franklin, Bayside, Brown Deer, Cudahy, Fox Point, Greendale, Shorewood, Oak Creek, St. Francis, West Allis and Whitefish Bay.

The hometown favorites of Washington County, Jefferson County and Dodge County including Watertown, Hartford, West Bend, Germantown, Jackson, Richfield, Ashippun, Lake Mills, Jefferson, Johnson Creek, Slinger and Erin.

There is no place like "WISCONSIN LAKES"

If lake living is what you desire then Lake Country is the place to be! If you are thinking about buying waterfront property in Wisconsin, a little time invested in learning about waterfront living will pay back sizeable dividends in matching your expectations to realities.

Lake Country Living on one of Waukesha Countys great lakes as a full timer or vacationer is a must and there are some great lakes to choose. Nagawicka Lake, Pine Lake, Oconomowoc Lake, Beaver Lake, Okauchee Lake, Pewaukee Lake, Moose Lake, North Lake, Lake Keesus, Lac La Belle, Upper Nashotah, Lower Nashotah, Upper Genesee, Lowe Genesee, Middle Genesee, Upper Nemahbin, Lower Nemahbin, Fowler Lake, Golden Lake, Pretty Lake, Silver Lake, Waterville Lake, and Crooked Lake. Great lakes of the surrounding area also include Lake Michigan, Rock Lake, Big Cedar Lake, Little Cedar Lake, Pike Lake and Lake Ripley.

Your best source for Lake Country Living is RE/MAX REALTY CENTER, Real Estate in Wisconsin

RE/MAX REALTY CENTER, Real Estate in Wisconsin, 262-567-2455 or 262-893-5555, offer online markets, listing package and FOR SALE BY OWNER (FSBO) options, MLS search access, buyer agency and marketing that will exceed your expectations, all with outstanding service!

Your home purchase or sale is likely your largest investment, be sure you have an good agent you can trust! Real Estate in Wisconsin is an excellent investment, prices are superb, selection is great and rates are outstanding!!!

Ask us about our preferred vendors -- from lenders to help you finance your new purchase to contractors to help maintain!

Wednesday, August 7, 2013

A husband and wife selling their home...(cartoon)

Welcome to Wisconsin Real Estate
RE/MAX REALTY CENTER, Real Estate in Wisconsin

There is no place like "WISCONSIN LAKES"

Your best source for Lake Country Living is RE/MAX REALTY CENTER, Real Estate in Wisconsin

Ask us about our preferred vendors -- from lenders to help you finance your new purchase to contractors to help maintain!

Tuesday, August 6, 2013

Why RE/MAX?

RE/MAX is Main Street, Not Wall Street.

Founded in 1973, in Denver, Colo., by Dave and Gail Liniger, who still lead the network today.
Created by agents, not investors, and focused on raising the standards of professionalism and training.
An industry innovator always emphasizing training. Among the first to emphasize agents becoming trained to help homeowners facing foreclosure.
Among the first to give consumers access to all property listings in each multiple listing service, including the competition's.

Nobody Sells More Real Estate than RE/MAX.

Nearly 90,000 agents in over 85 countries, a greater worldwide presence than any of competitors.
RE/MAX Associates average more real estate sales experience than other real estate agents.
RE/MAX leads the industry in professional designations. These denote additional training in working with buyers and sellers with various needs.

RE/MAX is the Most Recognized Name in Real Estate.

RE/MAX has the largest share of voice in national TV advertising.*
remax.com is the most visited real estate franchise website with more than 48 million visits annually.**
When consumers find real estate online, “remax” is the most used search term among real estate brokerages.***
The RE/MAX Hot Air Balloon fleet is the largest corporate balloon fleet in the world.

RE/MAX Agents Give Back to the Community.

RE/MAX agents have donated more than $115 million to Children's Miracle Network Hospitals since 1992.
RE/MAX is a national sponsor of the Susan G. Komen Race for the Cure Series and has partnered with the organization in fighting breast cancer since 2002.
RE/MAX agents have been recognized for their community service through the National Association of Realtors' Good Neighbor Award program.

Welcome to Wisconsin Real Estate
RE/MAX REALTY CENTER, Real Estate in Wisconsin

There is no place like "WISCONSIN LAKES"

Your best source for Lake Country Living is RE/MAX REALTY CENTER, Real Estate in Wisconsin

Ask us about our preferred vendors -- from lenders to help you finance your new purchase to contractors to help maintain!

Get Rid of that Dog Smell in Your House

By Diana Lundin

Fresh and clean is not usually a way to describe a house with a dog because let’s be honest here… those rascally -- but beloved -- pooches can most definitely make a mess and leave a trail of odors that can make your home smell like a kennel.

Bulldog with his tongue hanging out sitting on a sofa.

Like getting desensitized to your favorite perfume after a while, you might be used to the odor that originates from your dog but your guests will more than likely be able to tell you have a canine companion at first whiff.

So while the Jersey Shore gang might expound the virtues of GTL – gym, tan, laundry – you, the dog owner, might want to embrace CGN – clean, groom, neutralize.

The American Pet Products Association, a non-profit trade association that supports the pet industry through public policy, public affairs and animal awareness, says that according to its latest survey, 62% of U.S. households own a pet, which equates to 71.4 million homes.

And of that number, 77.5 million dogs are in 45.6 million households.

That’s a lot of shedding.

How you can minimize odors

Tierra Bonaldi represents the APPA and has a menagerie of her own to manage: “I have a dog, two cats and a constant stream of foster kittens. And my son is allergic. Believe me, I'm all over odor control!”

And as part of her job, she gets to try everything.

First, frequent grooming is the order of the day when it comes to minimizing fur mess and odor. Brush your dog daily for about five minutes. That will cut down on the fur flying around the house and pet hair does have a scent. Bonaldi recommends a Furminator to brush your dog’s coat.

“I have found that getting my dog groomed, or washing and brushing him myself, helps tremendously as well as frequently washing his pet bed covers,” Bonaldi says.

Vacuum frequently.

That said, vacuum regularly as well. Many manufacturers are coming out with models specifically made to pick up fur, like Dyson’s Animal, Bissell’s Pet Hair Eraser or even iRobot’s Roomba Pet Series Robotic vacuum cleaner.

Sprinkle your carpets with baking soda a few minutes before vacuuming to neutralize odors. You can also put a few drops of essential oil on a tissue, vacuum the tissue, and it will add a nice fragrance as you vacuum. Try lemongrass, wild lavender, sandalwood or any scent you like.

Bonaldi also likes Bissell’s Spot Bot, a deep-cleaning machine that automatically removes stains from carpet and upholstery. It, too, has a pet-specific version and a cleaning solution made just for treating pet stains and odors.

Febreze also makes a line specifically for pets, which includes fabric spray and air freshener spray.

Lint rollers also help considerably, getting dog hair off of your furniture and clothes and one of the stronger ones is Petcare Dog Hair Remover, Bonaldi says. Keeping dogs off of your bed and furniture might ease the odors, too.

Don’t forget odor neutralizers, like Nature’s Miracle, Urine-Off Pet Odor Neutralizer and KO’s Odor Eliminator.

So there you have it. Do some CGN and you can eliminate a lot of your dog’s smellier attributes so you can enjoy what you like most – its company.

Welcome to Wisconsin Real Estate
RE/MAX REALTY CENTER, Real Estate in Wisconsin

There is no place like "WISCONSIN LAKES"

Your best source for Lake Country Living is RE/MAX REALTY CENTER, Real Estate in Wisconsin

Ask us about our preferred vendors -- from lenders to help you finance your new purchase to contractors to help maintain!

Monday, August 5, 2013

Anatomy of a Home Purchase

For some, the search takes a while; others find what they want right away. In either case, your real estate agent can be a huge resource of insight and guidance, working through issues or complications that arise along the way.

Here’s a general outline of what to expect during a home purchase, from the buyer's perspective.

Buyers make a purchase offer.
This is it! You've found the home of your dreams, looked over disclosure documents, reviewed comparable sales data, talked it over with your agent and submitted an offer. The sellers may accept your first offer, but more often will return a counteroffer. In fact, additional negotiations are common, and your agent will help you through this generally stressful stage.

Check out our interactive HUD-1 and GFE (Good Faith Estimate) documents so you'll know what to expect when these appear lap during the transaction.

The sellers accept.
Once everyone is happy with the terms, the parties have reached what is known as mutual acceptance and enter into a purchase and sale agreement.

Buyers put up earnest money.
To solidify your intent to buy, you'll place a deposit, or earnest money, on the property. The amount varies, but is generally at least 1 percent of the purchase price. You'll write the check to the escrow company, not the seller. Note: This money counts toward your down payment later.

Escrow opens.
The earnest money deposit goes into an escrow account, where all funds will be held until closing, when they are then distributed to the right people (lender, mortgage broker, title insurer, real estate agents, etc.).

Buyers apply for a mortgage.
This step is streamlined if you've already been preapproved for a loan (which is a smart thing to do). If not, you'll begin the loan application process now.

The lender inspects title history and orders a property appraisal.
The lender needs key information about the property before granting a loan. This is when potential problems can come to light. For example, the appraisal could show a lower value than the purchase price, or the lender could have trouble finding comparable homes. Also, the title search could turn up liens or other problems.

A home inspection takes place.
You'll hire an inspector – generally, your agent will suggest one, or provide several options – to check the home and point out minor and major problems that should be fixed before closing. At this point, you still have the option of backing out of the deal. Through your agent, you'll submit a list of requested work, and the sellers have the option to complete the tasks, do some of them but not others, or reject the request. The sides will negotiate until reaching an agreement.

Removing contingencies.
If the house passes inspection, appraisal and title search, and everything is good to go, then all contingencies can be removed, paving the way to a closing.

Closing time arrives.
Once contingencies are removed and financing is set, all parties sign a seemingly endless stack of documents, and the transaction closes.

Packing begins!
When the final signatures are in place, it’s time to put down the pens, shake hands, exchange smiles and start packing for the move!

Sunday, August 4, 2013

How to Negotiate the Best Real Estate Deal

Whether you’re a buyer or a seller you want to succeed in the realty marketplace. That’s natural and reasonable, but what are the steps you need to triumph?
Negotiation is a complex matter and all transactions are unique. Both sides—buyer and seller—want to feel that the outcome favors them, or at least represents a fair balance of interests. In the usual case there is a bit of bluff, some give-and-take, and neither party gets everything they want.

So how do you develop a strong bargaining position, one which will help you get the most from a transaction? Experience shows there are five basic keys which will determine who wins at the negotiating table.

1. What does the market say?
At various times we’re in a “buyers” market, a “sellers” market, or a market where housing supply and demand are roughly equal. If possible, you want to be in the market at a time when it favors your position as a buyer or seller.

Because all properties are unique—it is possible to buck general trends and have more leverage than the marketplace would seem to allow. For instance, if you have a property in a desirable neighborhood with few sales, you may be able to get a better deal than elsewhere. Or, if you’re a buyer who can quickly close, that might be an important negotiating chip when dealing with an owner who just got a new job 500 miles away.

2. Who has leverage?
If you’re on the front page of the local paper because your business went bust—and the buyer knows it—you have little clout in the bargaining process. Alternatively, if you’re among six buyers clamoring for that one special property, forget about dictating an agreement—the owner can sit back and pick the offer which represents the highest price and best terms.

3. What are the details?
A lot of attention in real estate is paid to transaction prices. This surely makes sense, but the key to a good deal may be more complex.

Consider two identical properties that each sell on the same day for $275,000. The houses are the same, the sale prices are the same, but are the deals the same? Maybe not. For instance, one owner may have agreed to paint the property, replace the roof, purchase a new kitchen refrigerator, and pay the first $3,000 of the buyer’s closing costs. The second owner made no concessions.

In this example, the first house was actually sold at discount—the $275,000 purchase price less the value of the roof repairs, closing credit, and other items. If you’re a buyer, this is the deal you want. If you’re a seller, you would prefer to be the second owner and give up nothing.

4. What about financing?
Real estate transactions involve a trade—houses for money. We know the house is there, but what about financing? There are several factors that impact the money issue:

Has the buyer been pre-qualified or pre-approved by a lender? Meeting with a lender before looking at homes does not usually guarantee that financing is absolutely, unquestionably available—a loan application can be declined because of appraisal problems, title issues, survey findings, and other reasons. But, buyers who are “pre-qualified” or “pre-approved” (these terms do not have a standard meaning around the country) at least have some idea of their ability to finance a home and know that they are likely to qualify for certain loan programs. The result is that pre-qualified buyers represent less risk to owners than a purchaser who has never met with a lender. If the seller accepts an offer from a buyer with unknown financial strength, it’s possible that the transaction could fail because the buyer can’t get a loan. Meanwhile, the owner may have lost the opportunity to sell to a qualified buyer.
The lower the interest rate, the larger the pool of potential buyers. More buyers equal more potential demand, good news for sellers. Alternatively, high rates or even rising rates may drive buyers from the marketplace—and that’s not good for anyone.
It used to be that downpayments were a major financing hurdle—but not anymore. For those with good credit, loans with 5 percent down or less are now widely available. In fact, 100 percent financing, mortgages with nothing down, are now being made by conventional lenders. Reduced downpayment requirements are good for both buyers and sellers.

5. Who has expertise?
Imagine you’re in a fight. The other guy has black belts in 12 martial arts—and you don’t. Who’s going to win?

Brokers have long represented sellers, and now buyer brokerage is entirely common. In a transaction where one side has representation and the other does not, who has the advantage at the bargaining table

Contact RE/MAX Realty Center in Wisconsin now!

Saturday, August 3, 2013

Responsibilites of a Co-Signer

The Responsibilities of a Co-Signer

Not everyone can be approved for a home on their own. If you have a poor credit history, an unsteady job, a high debt-to-income (DTI) ratio, a foreclosure or a short sale in your past, or if for some other reason you can’t get approved for a loan, one option is to use a co-signer. A mortgage co-signer is a second person who agrees to back up your loan, guaranteeing the lender that the loan will be repaid.
While a co-signer can give you the borrowing strength you need, this is a serious legal relationship that should be considered carefully. Your co-signer needs to be someone who will be approved by lenders, someone you trust, and someone who is willing to be involved in this agreement for the long haul.

Most people look to family or friends first. Although there are risks in this, there is a level of trust when you’re working with someone you have known for a long time. For married couples, a spouse typically acts as the co-signer for a mortgage. Sometimes parents, business partners, sisters, brothers, aunts, grandparents or long-trusted friends can help.

Your potential co-signer must have a strong credit history as well as good income. The co-signer must be at least 18 years of age and willing to have their income, credit history, credit score, assets and debts scrutinized by your potential lender. The bank will look at home ownership fees (insurance and maintenance) as well as tax costs, even if the co-signer will not reside on the property. If the main owner fails to make payments, not only is the co-signer financially responsible, but their credit history could suffer.

If you plan to use a co-signer, it’s best to have a formal contract that you both sign. It can serve as a protection for both of you and a reminder of the seriousness of this agreement. A real estate lawyer can help you and your co-signer draw up an agreement that specifies who will pay the bills, who will occupy the residence, and contingencies, like what happens if the main mortgage holder cannot make the payments. While you may not see the need to make this sort of formal arrangement with a family member, this document can serve as a record to keep the agreement on track long after the contract is signed. This contract can also help prevent worst-case scenarios. For example, a co-signer could use the property as collateral for another loan or could suddenly demand full ownership of your home or 50 percent of the property’s value.

Co-signing can be a great way to get into a home, but it requires a major commitment from both parties. Before you ask for a co-signer, be certain that you are financially prepared for home ownership. Ideally, the co-signer should never have to hear from the bank after the papers are signed.
Deena Weinberg contributed to this article.

Welcome to Wisconsin Real Estate
RE/MAX REALTY CENTER, Real Estate in Wisconsin

There is no place like "WISCONSIN LAKES"

Your best source for Lake Country Living is RE/MAX REALTY CENTER, Real Estate in Wisconsin

Ask us about our preferred vendors -- from lenders to help you finance your new purchase to contractors to help maintain!