Myths are commonplace in our world, and sometimes it can be hard to distinguish between the truth and fiction with such established lore. Unfortunately, myths are profuse on both sides of the transaction when it comes to real estate. On Myth Mondays, we will be analyzing common real estate myths and using our experiences/knowledge to label them as truth, fiction, or somewhere in between. This Monday, our real estate myths are buyer-focused: The first step on the path to homeownership is to start looking. Buying a new home means no repairs Buying a condo is just like buying a… Read More
Home Buyer Topics
2021 Market Review: Waukesha County Real Estate
2021 Market Review: Total # of Sales and Average Sales Price As we head into the new year, let’s take a moment to reflect on last year’s real estate market with a market review. To put it simply, the real estate market of 2021 was wild. The demand of 2020 carried into 2021, creating massive amounts of competition that kept prices high and overall inventory low. This environment left buyers scrambling to see houses the same day they hit the market, or loose out, and sellers with a wide variety of offers to choose from. The following graphics will seek… Read More
You’re Being Watched: Use of Recording Equipment During Showings
Buyers Beware: Recording is Happening Here Ever tour a home during your real estate journey, and get a feeling someone’s watching? Well, they could have been. According to a survey done by LendingTree, 1 in 3 home sellers admit to secretly recording home buyers during showings. The survey polled just over 2,000 consumers, 347 of whom were sellers. The top reason for using cameras (49%) was to understand what buyers liked and disliked about the home. The remaining reasons were: – Gather any information that would be useful during negotiations (36%) – Ensure my home is safe during showings (31%)… Read More
How to win a bidding war: 5 Emerging trends to know about.
If you want to successfully buy a home in the Oconomowoc area in 2021, being decisive, aggressive on the offer price and terms, and working swiftly can help you succeed. The pandemic that began last year did not deter home buyers, like it did to many sellers. Pent up buyer demand, and remarkably low inventory this year has caused bidding wars to surge for homes in Oconomowoc and surrounding area. With no sign of buyer competition slowing down in the near future, being aware of the emerging trends in real estate negotiations can help you understand the local market and… Read More
6 Ways Buyers can Stand Out from the Competition
There continues to be high demand for homes in Oconomowoc and surrounding area, making it a competitive market for buyers to purchase a home in the local community. Low mortgage rates and tight inventory has kept the pressure high for available homes for sale. Here we’ll share some strategies, that can help get you into a new home. METHOD #1: CAREFULLY CONSIDER YOUR FINANCING OPTIONS. When sellers review the offers presented to them, one of the major considerations is how the buyer plans to fund the purchase. Eliminating a financing contingency all together is ideal, but paying all cash is… Read More
Avoid These Costly Home Buyer Mistakes + Learn What to do Instead.
Shop around for a mortgage. Getting pre-approved for a mortgage is a must in today’s robust market. Obtain pre-approvals from at least three different lenders to compare terms such as interest rates, fees, closing costs and down payment requirements. Shopping around for a mortgage could save you hundreds each month. Avoid costly private mortgage insurance (PMI). If your down payment is less than 20%, chances are you will be required to pay private mortgage insurance. PMI has no benefit to you, the buyer, as it only protects the lender if you default on your loan. Avoid high PMI by having… Read More
15 Ways to write the winning offer and score the house you love
Resilient demand for houses in Waukesha County, especially priced below $350,000, has created a tough environment for buyers in 2020. With demand outweighing the available supply of homes, multiple offers on properties has become common. To help your offer stand out from the crowd, below are some things to consider. Since all situations are different, the strategies you employ will be determined by the level of competition, the type and condition of the property, your level of motivation, and other factors. Write a personal letter. Composing a personalized letter to the seller is your chance to make yourself memorable, explain… Read More
4 Things to Know About Buying or Selling Real Estate in 2020.
Spring is just a couple of months away, and soon the spring real estate market will be in full swing once again. Have you been considering making 2020 the year to downsize, trade up, or buy your first or next home? If so, there are things you can do now to remain competitive in another anticipated, lively real estate season. Continue reading to learn how you can prepare to reach your home buying or selling objectives this year. Thinking about selling? Plan ahead to help reduce your stress, and make the home selling process much easier on you and your… Read More
Conquer 2020. Tips to Achieve your New Year’s Home Resolution.
As 2019 comes to a close, it is a great time to start creating goals for the new year and fresh decade ahead. Your new year’s resolution may include buying your first home, or perhaps selling your existing home to buy your next. Your real estate ambitions may seem overwhelming, but are achievable if you stay organized and keep your finances on track. Here are some advisable tips to put you on a clear path to achieve your home ownership resolutions. Get a head start on your Buying Objectives. Assess your finances and examine your budget. – Determine how much… Read More
4 Considerations to Ease Your Fear of Buying Your First or Next Home in Today’s Market
Mortgage rates are historically low right now. Mortgage rates in Oconomowoc go along with the national level trends. The average 30-year fixed mortgage rate as of October 10 of this year stood at 3.77%, according to Bankrate’s latest survey of the largest mortgage lenders in the country. The highest recorded rate for the same type of loan was 18.44% in October of 1981. Mortgage rates have fluctuated over time as the graph via Freddie Mac shows below, but as you can conclude, rates remain low by historic standards. Tailored mortgage programs & down payment assistance. Whether you’re buying your… Read More