Andrew Baumbach's Blog

Foreclosure Lists ads. I know you've seen them. Now here's the truth.

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Wed, 29 Jul 2009 22:25:38 -0500

I am an avid sports fan and when driving around mostly listen to sports radio. I know this is not the only station or medium that is used for advertising, but everyday i hear and ad spot of how luctrative it is for people to buy these foreclosure properties. The ad usually features 2 women talking about one of the friends new home that costs less than the other is paying for rent. I really do not have a problem with this part at all.

The advertisment is for a company that sells a lists of foreclosure homes in a specified area. This is what i have a problem with. You see, I have actually seen these lists and checked them against my local MLS. Yes, that's right. All the foreclosure properties on this list are actually listed with Realtors® and are available at no cost if you would simply contact a Realtor® from the get go.and that still is not my biggest problem with these compaines.

As I just stated i checked the status of alot of the properties on these lists and they are far from current. In fact close to half of the properties that they had advertised as available were either sold weeks to months ago or were already in the Pending process. They are charging for information that is not even current, and yet charging you as if they have all these amazing properties for sale wehnin fact they are long gone.

If you a consumer looking to take advantage of this part of the market here is some advice from someone on the inside.

Contact a Realtor® that has experience helping buyers purchase these kind of properties. you see folks the banks now if they want to sell a property for the most amount of $$$ in the least amount of time that need to list with Realtors®. A Realtor® has access to all available homes including foreclosures that they will provide to you at no cost.

Now here is the part that most people run into problems. Some of these properties may not be elgible for financing. they may be in good locations but if things like the roof, or furnace need to be replaced. Most lender will not back the mortgage. Also there are many investors in the market that are buying with cash in hand and willing and able to close fast.

This is where it will help you again to ire a buyer's agent to represent you so you will be assured the best information and advice available to you.

I hope this message finds you well and hope that it can of help to you, your family and friends, as I encourage you to pass it along to anyone that is thinking of buying.

Big Real Estate News, hot off the press

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Wed, 13 May 2009 20:43:58 -0500

Yesterday was a very important meeting at the NAR Real Estate Summit in
Washington. The following is an excerpt from that meeting:

"Secretary Donovan (secretary of the U.S. Department of Housing and
Urban Development) said that important changes, which the National
Association of Realtors® has been calling for, will help consumers
purchase a home. "We all want to enable FHA consumers to access the home
buyer tax credit funds when they close on their home loans so that the
cash can be used as a downpayment," Donovan said. According to Donovan,
the FHA's approved lenders will be permitted to "monetize" the tax
credit through short-term bridge loans. This will allow eligible home
buyers to access the funds immediately at the closing table."

What does this mean for you? First Time Buyers may in fact be able to
benefit from an up and coming change in the way the $8,000 tax credit is
used for the purpose of purchasing a home. We just may see the chance
for a borrower to use the $8,000 at the point of sale!!!

More to come, please stay tuned...

AND: please call me if you have any questions!!! I love talking about real estate.

Interesting Results for anyone thinking of going the Flat Fee, MLS only route in Milwaukee

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Sat, 07 Mar 2009 16:57:25 -0600

I was writing a blog earlier about meeting with a prospective seller that believed his chances were better of saving money with a Flat Fee, MLS only agent vs. going with a full service agent.

This got me thinking of the true stats that these companies actually delivered and I wanted to share them here.

This is a study of the top 3 Flat Fee providers in Milwaukee WI

Milwaukee Area Flat Fee service Stats

I will not include any names here.

This is based on the #1 flat fee in our area.

380 homes listed

59 Sold

only 15.5% actually sold

Of those that were lucky enough to get an offer the average sold price was 8% lower than the asking price.

This is from the #2 Flat Fee only company

100 homes listed

16 sold

Only 16% actually sold

Of those that were lucky enough to get an offer the average sold price was 5.4% lower than the asking price. the average in our MLS sold for 95.2%.

This last companies very well known and offer an Ala carte service where you can add more services later if you wish. You may have seen their magazines.

138 homes Listed

41 Sold

29% Actually Sold

Of those that were lucky enough to get an offer the average sold price was 4.5% lower than the asking price.

I attribute this to the customers that actually stayed with this company and eventually opted for more services(which usually costs more in the end than listing with a full service agent from the get go) vs, the majority who felt like the were handed the old bait an switch and went off to list with a real full service agent.

The important thing to note is all of these companies charge an up-front fee of at least $400. For some companies this can be quite lucrative, because all they provide is MLS access. In honesty they could really care if the home sells or not, since there is no incentive for them. In fact if your home does not sell and you re-list with them would be even better since you will be paying them again, and they can keep their sign in your yard and they can continue to receive buyer calls where they can show and sell buyers other homes than yours, where they can actually make an average commission. (Not all Flat Fee Companies advertise their numbers or operate this way but many do)

If you are just testing the waters, and are not committed to selling and live with a 16% of selling your home while you have to do more leg work this might be the best route to go. But be advised the buyers and agents viewing your home know you are not paying the other half of commission and thus is usually deducted from the offer to purchase. All this extra work you are doing and money you are trying to save is going right to the buyer.

If you are serious about selling, contact a full service agent like myself that can show you how full representation can work to your advantage. Because 90% of our listings sell and we average 98.7% of list to sales price.

Just doing some home work for an Anti full service listing prospect,found some interesting results

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Sat, 07 Mar 2009 13:43:43 -0600

Well after running around a late afternoon I thought it would be best to hit the phones for a bit before calling it a day. So i was calling on some expired listings when i came across a client that had recently built and was planning a move to their retirement home far far away.

The Gentleman made it clear that he has already told a number of agents that have called before me that he and his wife had no interest in hiring a full service agent or paying 6%.

He also informed me that they were not the most motivated people and that they did not want to get locked into any kind of contract. But at the same time would rather move now instead of waiting for the market to rebound in their favor.

So dug a little deeper and found that they really did not understand that when you list all brokers work together.

He was pretty adamant about renewing for a Flat Fee, MLS only listing. So I better have a strong case if they were going to be convinced to list their home with me.

OK so here i am looking around for strong arguments on why full service is better, and not really finding anything i like. So the analytical part of me surfaced for a moment, and I decided to pulll the numbers from the flat fee broker in comparison to my own.

I found some very interesting things out.

Flat Fee broker listed close to 100 homes last year. 16 sold

So far so good, by listing with them you only have a 16% chance of selling.

90% of my listings sold last year.

OK lets go a little further of those home that sold the average price was $202k, with out anything selling for more than $300k. MR. & Mrs. Sellers home is $375k. the average selling price for Flat Fee broker was $193k So the Average list to sales price was 95.5%. Which is not too shabby when our local MLS stats that the average home sold for 95.2%. However the homes we sold...sold for on average of 98.7%.

And the real kicker was the Flat Fee agent they were listed with is no longer in the business.

So there in the numbers i found some great ammo to go in with:

If really want to sell...is listing with a Flat Fee broker and having a 16% chance good enough?

They don't sell homes like yours, and of the homes that do sell they sell for 94.6% less than listed price. So you do the work and the buyers save more money?

We sell homes like yours, when you list with us you have a 90% chance of selling, we are a full service brokerage that guarantees our service in writing and our listings sell for an average of 98.7% list to sales price.

Let's not even get into how most buyer's agent work on these sales. Most buyer's Agents do not want to work on these sales, since there is a no other agent involved to insure the deal will go through properly as well as the extra legal liability situation the agent is putting themselves in.

Long and short of it, at the very least most buyers and there agents know you are not paying that other percentage to have an agent represent you so, agents like myself usually advise the buyers to knock even more off the offer price. So again it's back to the seller trying to save money and the buyer usually ending up with the savings.

So I guess after the end of the day, if you just plain hate the idea of an agent working for you, and you want to do more work and expose your self to legal liabilities, and at the end of the day end up with the same amount or less than it would cost to hire an agent in the first place, than from these numbers going it alone might be for you.

Report from the trenches of Milwaukee-THE MARKET IS BOUNCING

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Thu, 26 Feb 2009 22:43:28 -0600

It might be hard to say that the market is rebounding for sure from the real estate recession but it sure has taking a bounce. either way this really is not the year for buyers to be waiting on the sidelines.

Now that the stimulus has been finalized and the 1st time home buyer tax credit has been offered the phones are starting to buzz quite a bit more in my office and i am expecting quite a bit more as the word gets out.

For those of you buyers out there with steady jobs that really have a low probability of going away, you really can't wait. the rates are amazingly low, and from what i am hearing from most mortgage pros really can't and won't get any better from where they are now. That and a good amount of selection really will go along way. As a buyer the chances of getting into a bidding war on a home are a great deal slimmer, and the prices are at the point where a lot of buyers were looking for years ago. That's right, if you missed the boat before, it's you're time to take advantage now.

As for my report from the trenches; I am seeing and meeting a lot of folks that are now starting to get off the fence and make the move to home ownership, and I have to say that i am seeing prices holding steady and less and less foreclosure homes for sale in desirable areas, and if they do become available there is almost always a bidding war. most recently in fact an associate of mine had some clients that wrote 15k above and still received a rejected offer.

also i am beginning to see new pre-owned homes coming on the market at higher prices than we have seen through the winter are at a hold steady prices. Meaning that the prices really are or will not go down much further besides the occasional fire sale price set by some seller that are looking for bidding wars and fast sales. Hence the bounce. And the sold prices are going up as well.

if you're going by what you see in the headlines of the media you are being mislead. Real estate is very local. And the national stats they usually post are very misleading yet are very effective at getting ratings or selling papers. do your self and decide for yourself if owning would be a better option than renting, and in most cases it always is.

for those of you with homes looking to make a move...look at this logically. obviously you are not going to clear what you wanted but when you make that move up purchase and sell later, it is almost impossible to lose out and on fact you stand a very strong chance of coming out ahead if and when you stay in your home for more than more than 3 years without a re-fi.

none the less how many stimulus packages are we going to see for this industry? If you were waiting for the bottom it's gone, don't miss your chance now. I'm happy to help.

Sales Talk Workshop

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Sat, 14 Feb 2009 15:52:32 -0600

Hey all,

I got a call last week from the Mike Ferry Orginzation that was inviting me to a Sales Talk workshop that will be done by Mike ferry in Chicago.

I was interested in going and the price was reasonable but I just am not able to get away for 4 days at this time.

I noticed that they are no longer doing Productivity School, so i was wondering if anyone out there has gone through the training and could tell us anything about it.

Now more then ever

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Sat, 14 Feb 2009 09:48:30 -0600

Driving around town lately I have been seeing a by owner company advertising on billboards with the headline "Now more than Ever". I could not help but to think to myself that they are exactly right, but not in their favor.

In a tough, buyers market does it really make sense do have less service? Or to pay a fee to a company that could care less if your home sells or not? Or for that matter does it even make sense to hire an agent for a discounted fee, knowing that they will not be giving you a full service package?

The fact of the matter is that most sellers, think what an agent charges will come out of what they will net, without weighing how much it could really cost them by not using a good full service agent. I understand this may sound confusing but I will explain.

Let me put into another context if you were going to buy a new printer and there were 2similar ones for sale, one for 200 and the other for 350. Most would opt for the 200 printer. But what if you found out the 200 printer uses more ink and the replacement cartridges cost $20 more than the 350 model. You can see you may have paid less up front but in the end it really cost you more.

Now more than ever good agents are continuosly honing thier skills and using every tool available to get as much exposure to get their listings sold.

Can folks really afford to have limited exposure, less information, and less representation? Every year around this time of year we start seeing what the median sales price for agent assisted sales compared to FSBO sales. These studies consistently come show that FSBO homes sell from 16%-30% less than Agent assisted sales. To further put this into context in my market, per the MLS the average home sold for 95.20% of List to Sales price. not too shabby right? I studied my numbers in comparison to that and found my listings sold for over 98%.

My point is that I totally understand someone wanting to try and saving some money, and I absolutely believe it is possible to sell a home without an agent, but what you save and what it cost you will not be the same.

Talked to a seller the other day that "could not afford a Realtor®"

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Thu, 05 Feb 2009 15:58:43 -0600

I was working the phones as I do everyday and calling on nice folks that had their listings expire with other agents. And one of the folks I talked to was a guy that had his home listed with a friend at a price where he felt he would be able to pay all the commissions and fees to break even or a little less.

He felt his agent did a good job and that his agent was keeping him informed of other comparable properties in his neighborhood that were selling or coming on the market. Mr. Seller told me felt he was going to need a major price drop to sell, and that he was in the process of moving into his new home. (We all know it's never good to put the cart ahead of the horse) He said he was fine with paying 2 mortgages and was not in a situation for a short sale. He also stated he may be interested in the future of hiring a MLS only broker. But would not be willing to pay a whole commission, and that the price drop alone should get it sold.

Now, I am thinking to myself how I really do empathize with the situation, but at the same time in this market can you really afford not to have a Realtor? I did not want to discourage him against a bare bones service, but could not help thinking in this kind of market folks need really good agents that will pull out all the stops to get people through the door and to write an offer.

Some of the questions I asked were:

if he ever had to make a sacrifice that paid off in the end?

Or if the home did not sell on time, how much more he could possibly lose in carrying costs, before coming around and pricing correctly with a real estate agent. (He felt he had to at least try)

And I admire that, so with that I wished him the best and told him I would keep in touch.

There really are alot more reasons I could have brought up, but I decided to end there.

We are all see this more and more, and I'm sure most of you are strongly advising against sellers purchasing another home before their current home is sold. I'd be interested to hear how others are dealing with the situation as sellers or agents.

Greater Milwaukee Market Stats from 1/2/2009 - 2/2/2009

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Tue, 03 Feb 2009 11:22:01 -0600

This is something I do every 2 weeks to keep myself up to date on the numbers in the areas I work in. I thought I would post the results for you out there as well.

These are for single family homes only in the areas I most often work in. I know there are other areas of Milwaukee that I am leaving out. If you have question on a particular area listed below or that I left out, please feel free to contact me.

The system I use is:

____ Active Listings

____ Sold in the last month

____ Month supply (Based on the number of homes sold in last month)

____ New homes (Listed in the last month)

Milwaukee County

3665 Active listings

202 Sold

18 Month Inventory

856 Newly Listed homes

Inventory is coming down.

I like to break it down to the cities of Milwaukee county as well.

Milwaukee

2217 Active Listings

126 Sold

18 Month Inventory

508 New Listings

Cudahy

71 Active

2 Sold

35 Month Inventory

20 New Listings

Franklin

139 Active

9 Sold

15 Months

29 New

Glendale

70 Active

1 Sold

70 Months

11 New listings

Greendale

27 Active

1 Sold

27 Months

7 New

Greenfield

79 Active Listings

8 Sold

10 Month Supply

21 New

Oak Creek

120 Active listings

7 Sold

17 month

28 new

South Milwaukee

73 Active

2 Sold

37 Month

18 New listings

St. Francis

33 Active

1 Sold

33 month

10 New

Wauwatosa

194 Active

9 Sold

22 Month

46 New Listings

West Allis

297 Active

14 Sold

21 Months

74 New

This is something I do every 2 weeks to keep myself up to date on the numbers in the areas I work in. I thought I would post the results for you out there as well.

The system I use is:

____ Active Listings

____ Sold in the last month

____ Month supply (Based on the number of homes sold in last month)

____ New homes (Listed in the last month)

Milwaukee County

3665 Active listings

202 Sold

18 Month Inventory

856 Newly Listed homes

Inventory is coming down.

I like to break it down to the cities of Milwaukee county as well.

Milwaukee

2217 Active Listings

126 Sold

18 Month Inventory

508 New Listings

Cudahy

71 Active

2 Sold

35 Month Inventory

20 New Listings

Franklin

139 Active

9 Sold

15 Months

29 New

Glendale

70 Active

1 Sold

70 Months

11 New listings

Greendale

27 Active

1 Sold

27 Months

7 New

Greenfield

79 Active Listings

8 Sold

10 Month Supply

21 New

Oak Creek

120 Active listings

7 Sold

17 month

28 new

South Milwaukee

73 Active

2 Sold

37 Month

18 New listings

St. Francis

33 Active

1 Sold

33 month

10 New

Wauwatosa

194 Active

9 Sold

22 Month

46 New Listings

West Allis

297 Active

14 Sold

21 Months

74 New

It's understandable that these numbers might be discouraging if you're considering buying or selling. But is important to keep in mind that January is always the slowest month of the year for Milwaukee real estate. In fact that is why I usually try to spend as much of the month of January on vacation, usually in Mexico.

So from here out we will see improvement for the rest of the year. As you might have heard sales are down, but as this survey shows, the amount of inventory is down about 20-30%. Most home sellers like to list their homes in the spring, so keep in mind that if you're also thinking of waiting, you will also be listing in time to face the most competition.

With market conditions it could take 3-6 months to sell,add to that the 45 days it takes to remove contingencies and you can expect a closing date of around June 15th if you were to list today. So the question is do you want to be sold by then or do you want to start selling then?

Buyers there are tremendous opportunities available in the market, especially when it comes to foreclosure properties. Your time frame is also something to consider. It can usually take about a month to find your new home, and 45-90 days to close. Which would put you on track for a closing in April or May. Perfect moving weather. There are alot of buyers as well that are waiting for spring as well to start looking for new homes. By waiting you may find yourself bidding on a property against other buyers. Leaving you with less negotiating options.

http://BayViewRealEstate4U.com

http://AndrewBaumbach.com

Greater Milwaukee Market Stats from12/14/08-1/14/2009

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Fri, 16 Jan 2009 13:29:44 -0600

This is something I do every 2 weeks to keep myself up to date on the numbers in the areas I work in. I thought I would post the results for you out there as well.

The system I use is:

____ Active Listings

____ Sold in the last month

____ Month supply (Based on the number of homes sold in last month)

____ New homes (Listed in the last month)

Milwaukee

2252 Active Listings

144 Sold

15 Month Inventory

386 New Listings

Cudahy

68 Active

6 Sold

11 Month Inventory

10 New Listings

Franklin

134 Active

8 Sold

17 Months

13 New

Greendale

28 Active

2 Sold

14 Months

3 New

Greenfield

81 Active Listings

13 Sold

6 Month Supply

20 New

Oak Creek

129 Active listings

14 Sold

9 month

22 new

South Milwaukee

75 Active

5 Sold

5 Month

14 New listings

St. Francis

31 Active

2 Sold

15 month

4 New

Wauwatosa

200 Active

18 Sold

11 Month

40 New Listings

West Allis

282 Active

20 Sold

14 Months

45 New

There are certainly a lot of opportunities for realistic buyers in this market. Over all inventory is down and the amount of new homes coming on the market is down almost 50%.

It is a great time to be a seller as well, since there are curently less competing homes coming on the market, and sales are increasing every week. Bare in mind we usually expect the amount of new inventory to reach it's peak in July. So by waiting you will be among hundreds of other new listings.

Now is a great time in real estate to make a move. Despite all the negative media reports on the Real Estate market, it's important to remember that all real estate is local.

Milwaukee has really remained a stable place for those purchasing real estate and has actually seen a modest increase of close to 2% of average sold prices, while some other parts of the country are down 5%10%,20% or more.

http://MilwaukeeRealEstate4U.com

http://BayViewRealEstate4U.com

http://AndrewBaumbach.com

It's been a long time, but I'm back.

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Fri, 16 Jan 2009 13:15:47 -0600

Hi gang,

It's been a long time since i spent some time here, or posted a blog. So I have been feeling the need to jump back in the rain.

I feel very lucky to know that there is a great site like this for everyone in the real estate business and those looking for answers is available. I can always think of something I'd like to know more about, or think of something where i'd like to hear others opinions before jumping into something, and this site has really come through for me as well as being a great place to meet new friends and clients.

So what have I been up to? Well for starters I have been feeling the effects of the economy pretty hard. Got lots of debt and not quite enough to pay for it all. I had a pretty OK 2008 but there is certainly a lot more I need to accomplish in 2009.

Definitely seeing alot of our agents leaving the business this year. I heard in my company alone we have had somewhere between 20-45 agents (out of 200) not renew their board dues. I recently read that nationally 20% of Realtors are quitting. So a lot of us are in the same boat, some worse than others. So I can understand why coughing up around $1,000 every January can make folks re-evalute things.

That being said. I jumped into Real estate in 2004, and got to taste the madness that goes along with selling homes like crazy and now have the experience of a slumping market. So I can honestly say i feel seasoned on what it takes to sell a home in different housing markets.

I personally feel at least for my own business that 2009 will be a positive step forward. I can't honestly see too many buyers sitting on the sidelines this year with all the opportunities currently available. The prices, the rates, my goodness.

As i stated above the herd is thinning, and i don't want to sound to much like a Darwinist, but i do think that will benefit the agents that are still here that practice professionalism, and operate up to high standards.

Let's face it, there are always going to be folks that need our help, and it's our job to be there for them. These are the times when we can show our worth and value, and laugh about how unnecessary we are viewed by the media in busy years.

In the words of Neil Diamond"Hello again, hello"

See ya around, and if you have a question for me feel free to drop me a line.

-Andrew

Greater Milwaukee Market Stats 7/1/08-8/6/08

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Wed, 06 Aug 2008 11:55:07 -0500

Whew, Back from a much needed vacation.

This is something I do every 2 weeks to keep myself up to date on the numbers in the areas I work in. I thought I would post the results for you out there as well.

The system I use is:

____ Active Listings

____ Sold in the last month

____ Month supply (Based on the number of homes sold in last month)

____ New homes (Listed in the last month)

Milwaukee County

4625 Active listings

606 Sold

7.5 Month Inventory

1275 Newly Listed homes

Inventory is keeping pretty stable, sales are up but so is the amount of new homes coming on the market.

I like to break it down to the cities of Milwaukee county as well.

Milwaukee

2734 Active Listings

310 Sold

9 Month Inventory

704 New Listings

Inventory is keeping pretty stable, sales are up but so is the amount of new homes coming on the market.

Cudahy

72 Active

11 Sold

6.5 Month Inventory

22 New Listings

inventory is stable,sales are up some, and new inventory is down a pinch.

Franklin

198 Active

20 Sold

10 Months

60 New

Inventory is up, sales are dipping a bit and the amount of new homes coming on the market are up as well.

Glendale

94 Active

14 Sold

6.5 Months

27 New listings

Very similar to the last month, with sales up a touch andnew inventory up a touch as well. Keeping things even.

Greendale

37 Active

6 Sold

6 Months

16 New

inventory is even with last month, Sales are down by half and the amount of new inventory is rising.

Greenfield

144 Active Listings

15 Sold

10 Month Supply

47 New

almost the same numbers as last month, this is appearing to be the norm in Greenfield.

Oak Creek

158 Active listings

27 Sold

6 month

38 new

Good improvement, inventory is down and sales are almost the same as the last month. and new inventory is reamining even as well.

South Milwaukee

105 Active

15 Sold

7 Month

28 New listings

Sales are remaing about even as last month, but the amount of new inventory is rising a bit.

St. Francis

29 Active

8 Sold

3.5 month

12 New

Inventory is down a tad and sales are about even with the amount of new inventory even with the last month.

Wauwatosa

259 Active

56 Sold

4.5 Month

96 New Listings

inventory is coming down a bit, sales are even and the amount of new invntory is rising.

West Allis

372 Active

51 Sold

7.25 Months

110 New

inventory and sales are about even with last month yet there are 37 more home coming on the marekt this month than last.

Now is a great time in real estate to make a move. Despite all the negative media reports on the Real Estate market, it's important to remember that all real estate is local.

http://MilwaukeeRealEstate4U.com

http://BayViewRealEstate4U.com

http://AndrewBaumbach.com

8141 S Wynona Drive 3BR 2Bath Ranch Built in 2004

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Tue, 15 Jul 2008 19:02:06 -0500

Why Build, and deal with all the headaches, when only a job transfer makes this Brand New condition Home available? This home features a large master BR with large WIC and private BA. Large Kitchen w/Dinette and like new appliances. Plenty of room in the living rm. for entertaining, or just relaxing. Super dry basement ready for your Rec Rm ideas. This home really shows pride of ownership and is move-in ready. Orginal Builder's warranties Avialable.

For more online info and pictures please visit: http://andrewbaumbach.com/Property/1026455.aspx

Greater Milwaukee Market Stats 6/14/08-7/14/08

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Mon, 14 Jul 2008 14:29:45 -0500

This is something I do every 2 weeks to keep myself up to date on the numbers in the areas I work in. I thought I would post the results for you out there as well.

The system I use is:

____ Active Listings

____ Sold in the last month

____ Month supply (Based on the number of homes sold in last month)

____ New homes (Listed in the last month)

Milwaukee County

4688 Active listings

528 Sold

9 Month Inventory

1085 Newly Listed homes

I like to break it down to the cities of Milwaukee county as well.

Milwaukee

2797 Active Listings

230 Sold

12 Month Inventory

613 New Listings

Cudahy

72 Active

7 Sold

10 Month Inventory

28 New Listings

Franklin

184 Active

27 Sold

7 Months

40 New

Glendale

97 Active

12 Sold

7 Months

20 New listings

Greendale

36 Active

14 Sold

2.5 Months

10 New

Greenfield

137 Active Listings

14 Sold

10 Month Supply

45 New

Oak Creek

170 Active listings

26 Sold

10 month

38 new

South Milwaukee

104 Active

16 Sold

6.5 Month

20 New listings

St. Francis

33 Active

7 Sold

5 month

12 New

Wauwatosa

269 Active

58 Sold

4.5 Month

76 New Listings

West Allis

373 Active

56 Sold

6.5 Months

83 New

Based on these numbers, the Current inventory and new listing inventory is coming down and home sales are up in the last 2 weeks. This is becoming more of what we in the industry call a normal market, where neither the buyer nor seller have the upper hand. This is an optimal time for both buyers and sellers.

It is a great time to be a buyer as the amount of inventory to chose from does still remain high, and there is less competition from other buyers when submitting an offer.

Now is a great time in real estate to make a move. Despite all the negative media reports on the Real Estate market, it's important to remember that all real estate is local.

http://MilwaukeeRealEstate4U.com

http://BayViewRealEstate4U.com

http://AndrewBaumbach.com

Jeesh is anyone working this week?

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Thu, 03 Jul 2008 10:14:55 -0500

I have been making my calls this week and I swear every person asked me to call after the 4th. Even pepole I had appointments with this week rescheduled for after the 4th.

I was asking around the office if we were getting many calls for showings, and that's slow too. We have 45 agents and close to 350 listings, so that is saying something.

Well I guess all i can do is make the best of my time by catching up on Admin stuff, and prep myself for big week after the 4th.

Hope you all have a good week as well and have a great 4th of July Weekend!

my first and hopefully last Active Rain junk mail

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Wed, 02 Jul 2008 15:11:55 -0500

MY DEAREST
I am miss unice gukama, a young and romantic girl. I intouched your profile here in (activerain.com) and i will like us to click together for a long lasting relationship. please contact me directly at my email address... (unicegukama@yahoo.com) because i will love to send you my pictures and also tell you more about my self in my next mail. i eagerly wait for ur mail
thanks for your acceptance,
unice

i've heard of other folks getting these too, so at least I'm not alone.

Now don't be contacting my new lady. LOL.

Great News in Milwaukee! The Marquette Interchange is opening soon.

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Wed, 02 Jul 2008 10:29:15 -0500

http://www.jsonline.com/story/index.aspx?id=768208

The Biggest highway construction project in state history will finish under budget in August

Every last freeway lane and ramp in the Marquette Interchange will open for traffic on Aug. 30, roughly two months ahead of the schedule for a project that also will come in millions of dollars under budget, Gov. Jim Doyle said Tuesday.

I travel this route everyday, and I can say without a doubt this will really shorten my drive times, especially with the west bound route from the south side opening.

I know I'm not alone on being excited here, since there are usually 300,000 others that travel through the interchange everyday.

Now we can look forard to the expansion of I-94, roughly from Howard Ave. to the Illinois border, and the reconstruction of the Zoo Interchange., which will not be complete until 2016.

5670 N 38th - Milwaukee, WI 53209

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Mon, 30 Jun 2008 23:53:33 -0500

Listing Courtesy of:
Andrew Baumbach
Coldwell Banker-HomeSale Realty/Oak Creek
Variable Price Range: $99,000-109,000
Property Type: Single-Family
County: Milwaukee
Total Rooms: 7
Bedooms: 5
Full Bathrooms: 2
Garage Size: 2
Garage Type: Detached
Lot Size: .165
School District: MPS
Taxes: $2111
Tax Year: 2007
MLS Number: 1022959

Room Dimensions
Room	Level	Dim.
Living Room:	Main	22x14
Kitchen:	Main	14x11
Master Bedroom:	Main	12x11
Bedroom 2:	Main	9x9
Bedroom 3:	Upper	12x10
Bedroom 4:	Upper	12x10
Bedroom 5:	Upper	11x9

Excellent Condition! 5BedRM 2 BathRM Home on an over sized lot. This Home Features lots of updates including, Brand new A/C new high effeciency windows on lower,New Kitchen Counter Tops & Cabinets, and a new Garage door. Lower also features Hard Wood flooring under carpet(Per Seller), and extra large Living room great for entertaining or just relaxing. Seller is including a 1 year Home Warranty.

for more online information, pictures, or to schedule a showing please visit: http://andrewbaumbach.com/Property/1022959.aspx

Tips for moving with pets

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Mon, 30 Jun 2008 23:45:03 -0500

Tips for Moving with Pets

I just talked with some clients that lost their dog during their move, and thought I would share this timely information.

If you are in the process of moving into a new home, you are most likely experiencing a number of mixed feelings. As it seems there is always so much to do leading up to moving day, along with the excitement of moving, life may seem very stressful for weeks - or months. Amongst all your own concerns, you should spend a few moments imagining how your pets might feel during this time. They might sense your anxiety and are aware of their changing environment. Likewise, they may spend much of their time inside your home and soon they will not be able to recognize their surroundings. They might be confined in a car or an airplane for an entire day, or more.

While moving into a new home can be difficult on your pets, there are a number of things you can do to make your entire family's life easier. Here are a number of tips to help you move with your pets, safely and happily.

Make a checklist

Before moving with your pets, take a few minutes to consider what your animals might need during the stressful moving process. Start with this sample travel list for all types of pets and add or subtract to meet your pets' needs:

Extra medications if you are moving out of the area
Beds, pillows and liners for your pet carriers
Plastic scoops and bags for your dogs
A 2-3 week supply of your pets' usual food (in case you have difficulty finding the food immediately after moving)
Several gallons of water from your old home (some veterinarians believe that changing a pet's water abruptly can cause confusion and upset stomachs)
Travel-friendly food and water bowls
Leashes for cats and dogs
Litter box
Cage covers for birds and rabbits
Paper towels
Toys

Visit the vet

In the weeks before moving, you might want to visit your pet's veterinarian. If you are moving out of the area, you can request a copy of veterinary records and obtain rabies and health certificates (these may be required for your pet, depending on where you move). The final visit to the vet before moving is also a good time to catch up on vaccinations and ask for recommendations of clinics near your new home. Lastly, if your pet is old or experiencing health problems, you may be able to obtain a mild sedative for your animal to aid in the rigors of car or airplane travel.

Take your time on the road

If you are traveling to your new home by car, it is recommended that you keep your pets in carriers. The carriers should be large enough to comfortably house your pets, bowls for food and water and a small litter box for cats. While you should stop periodically to let all of your pets stretch their legs and do their business, large dogs should be let out about every two hours.

Keep familiar items nearby

As your pets may become disoriented by their new surroundings, you should surround your animals with familiar items to help ease the transition. While you are traveling, keep a few toys and a favorite blanket handy. As you begin unpacking in your new home, you may want to keep your pets in their carriers with their toys until you have a chance to organize their space.

Create a room for your pets

When you arrive in your new home, you should try to designate one room for your pets. As you unpack, you should leave your pets in the room with their carriers - doors open - until they have a chance to adapt. You can also place their food and water bowls, blankets, toys and furniture in their room to help them feel at home. If necessary, you can also begin your big move by creating a pet room in your old home - a trick which could help pets behave on the road. In both cases, you will be able to organize your belongings while your pets make themselves comfortable.

Adjust to the outdoors

After settling into your new home, you should try to keep all cats and dogs on leashes when outside. Dogs typically adapt to their surroundings - especially outdoors - within a few days, while cats might need a few extra days.

Maintain your pets' routine

Though the process of moving might throw off your own routine, it is important for pets to stay on schedule. Throughout the entire moving process, try to make sure that your pets are fed and walked at regular times. Like many of the other tips mentioned here, staying on your pets' schedule can ease a lot of discomfort on moving day.

In the end, the key to moving with pets lies simply in being aware of all of their needs. As most pet owners probably do this already, following a few of these tips to make your pets extra comfortable can help them transition into their new home.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit http://MilwaukeeRealEstate4U.com, http://AndrewBaumbach.com or http://BayViewRealEstate4U.com today.

Garfield minus Garfield

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Thu, 26 Jun 2008 12:17:01 -0500

"Who would have guessed that when you remove Garfield from the Garfield comic strips, the result is an even better comic about schizophrenia, bipolar disorder, and the empty desperation of modern life? Friends, meet Jon Arbuckle. Let’s laugh and learn with him on a journey deep into the tortured mind of an isolated young everyman as he fights a losing battle against loneliness in a quiet American suburb."

This really made me laugh. My cousin in Dubai forwarded this to me and I thought I'd share it here.

http://garfieldminusgarfield.net/

I'm sorry, but I don't buy listings

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Tue, 24 Jun 2008 23:22:58 -0500

Hi folks,

I want to share a recent experience of mine, for both the the agents and the consumers that are reading along.

I have been in touch with a prospective client that has a very nice vacant house that he has been trying to sell for close to 2 years. I finally got a chance to catch up with him, as he has been out of the country for the past month and set a date to come talk to him about listing his house.

I asked all the questions I need to know if I am talking to a serious seller that is realistic with what is happening in our current market.

I always send a pre-listing packet before my appointments so the prospective clients will know exactly what I know, after all educated clients make educated descions. I can't possibly imagine someone that does not see what I see everyday to readily understand what I am trying to show them especially when your last agent/agents told you other prices 20-30k more. Which is why I ask my prospective clients to review all the information I send? Yes there is a reason I took the time to send it, please take the time to read it.

My story from today is that I was planning for a Friday meeting with a seller that was listed for close to 2 years, over priced and always with discount brokers. Now, let me straight when I say I am not looking to bash that industry, but both of those companies charged an up-front fee, regardless if the house sells or not.

So pre-listing packet was sent with how today's homes are selling, the guide to proper pricing, my marketing plan, the Competitive Market Analysis, Net proceeds sheet, testimonials of past clients, and an Estimated net proceeds worksheet.

And I receive the following email:

Andrew,
this is very nice work and thanks for the info.

I will NOT list the house at either the recommended or the high price you indicated.

I had previous offer of $ x with NO broker fee and did not take it because it was contingent on the buyer to sell their house to their buyer who is selling his house?

To which I reply:

I'm glad you found the information helpful. And I can also understand your frustration of trying to sell in a market with sliding prices. What's important for people in my industry is accurately interpret the numbers for our clients. A big part of this is looking at prices in our current market and sales in the last 3-6 months. BY showing you numbers from a year ago would be a great disservice to you, as those numbers do not represent our current market.

I suggest you review the attachments in the other email I sent, especially "the guide to proper pricing" attachment.

I feel that if you are absolutely serious about selling your home I would be doing a poor job by recommending a price to you above what anything comparable has sold for in the last 6 months. And believe me since I work for a fixed commission I want more than anything to get you the highest price possible, and in the shortest amount of time to minimize your carrying costs.

I would still like very much to sit down with you on Friday at 5pm to go over your concerns, even if we will not be working together.

I know there will be people out there saying that is why I don't send out pre-listing packets. To that I say why?

Mr. and Mrs. Seller I recognize your time is valuable and I want you to know mine is as well. I'm sure you have heard the market is slow and agents will do what ever you ask. And let me tell you there are agents like that, and the problem with that is they are desperate agents. I don't know about you but I the last thing I would want is a desperate attorney, desperate doctor, desperate pilot, or even a desperate veterinarian.

I am not a desperate agent.

If you honestly believe you know about the current market that I work in everyday than I do and none the less that I sold 2 homes only 6 blocks from your house this month, you will not gain anything from our appointment. If you are not going to read the information I send you, you will not get much from our appointment besides an overly long presentation that could have been 20 minutes by reading what I sent. If you are not willing to take an honest look at the comparable homes that have sold and that have been lingering on the market, and compare them to the home you want to sell, you will not get much from our appointment.

Or as I state in the end of my email I sent you if you have any questions or concerns please let me know as that will be the first thing we talk about when we meet on our appointment, rather than assuming I am only looking for a quick buck. I am trying to help you not hurt you.

I want to share some of the hurdles to agents that buy your business.

If an agent automatically agrees to your list price, the agent is either desperate or incompetent if they cannot back it up with recent sales activity. now this is your problem, the agent that is desperate just wants your listing now and is planning on beating you up on the price that they said they could sell it for, or worse you have an agent that does not know the market well enough to even recommend a price change, and when they do it's often too late.

Another big form of buying listings in today's market is commission cutting. Prices are not increasing fast enough for some sellers and some cases sliding. It looks like this trend will continue for a lot of folks. Well let's face it folks we are in a buyer's market right? Do you really think taking tools out my toolbox that commission cutting will cause will help you? I know you want the best deal, as I want to get you, but I need every tool in my arsenal to get you top dollar in today's market in the shortest amount of time. And let's face it with my current subject has cost him more than 10k for a house that is sitting empty. and what worries me more, is an agent that let's you beat them up on price(and is desperate) is going to have a hard time holding up to an experienced buyer's agent agent that will be pointing out all recent sales and comps on the market.

Please do not assume that because you are know listing with a Full-Service agent like myself over a discount/Limited Service broker that the list price will go up. I do not affect the market value. If you are selling coca-cola and there are 8 other places selling the same product in a 6 block radius, there is no amount of marketing that will help you sell a can of coke for 5$ when everyone else is asking $1. My job and the services I provide are intended to give you the marketing resources to get as many qualified buyers to see your home and protect your bottom line that coincides with today's market.

Every seller naturally wants to get the most money for his or her product. The most common mistake that causes sellers to get less than they hope for, however, is listing too high. Listings reach the greatest proportion of potential buyers shortly after they reach the market. If a property is dismissed as being overpriced early on, it can result in later price reductions. Overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price than they likely would have had they been priced properly in the first place.

I can't tell you how many listings I have seen that have been priced way to high from the start that lowered too late and sold for less than they could have sold from when they first listed.

I want to end with, that seller's there are agents that will not take your listing. I'm sorry but if we can't agree upon a realistic selling price, I don't want your listing, and in fact it's not even worth the money it will cost me to put my sign in the yard. I won't see the money again, and what's worse it's going to make me look bad when your home inevitably does not sell.

-Andrew Baumbach

http://MilwaukeeRealEstate4u.com

http://AndrewBaumbach.com

http://BayViewRealEstate4u.com

Imus is at it again.

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Tue, 24 Jun 2008 12:24:55 -0500

Oh boy you think this guy would learn to stay away from racially charged topics or comments like the plague. But apparently he was talking about Adam "Pacman" Jones and all of his legal problems and who is now trying to distant himself from his past by ditching his nickname for his given name of Adam.

I actually never listen to his show and don't even know where it airs, but apparently after his partner was going over Pacman's rap sheet Imus asked what color the guy was and said well there you go.

Later imus said he was trying to make a sarcastic point. But really? Come on guy, just leave this stuff alone. Even if you're not a racist, you obviously are not coming across well at all, and your points or attempt at humor are just not regestoring.

Five Topics to Discuss With Your Real Estate Agent When Buying a Condo

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Mon, 23 Jun 2008 11:57:13 -0500

If you're looking for home-buying information, you've come to the right place. One of the first questions in deciding to buy a home is house or condo? If you're leaning toward a condo, read on. Here are five important topics to discuss with your real estate agent before beginning your home buying search:

1) What You Can't Live Without

If your version of the American Dream doesn't include mowing the lawn, a condo might be a great choice. If you can't live without your own backyard, a big garage, or plenty of space between you and your neighbors, your needs may be better suited to a detached single-family residence. However, if the idea of a condo sounds right, talk to your real estate agent about other important aspects of your future home. For example, a gourmet cook might seek out a well-designed kitchen. Someone who works from home might need dedicated space for a home office. Additionally, there are decisions specific to condo living which you will need to think about. What types of association amenities are you looking for? These can include pools, covered parking, clubhouses, and 24-hour security. Do you have a pet? Some condo associations have restrictions regarding pet ownership or even such things as having outdoor barbecues. Be sure to include all aspects of your home buying requirements in the information you provide to your real estate agent.

2) Schools and Family Needs

The quality of school systems has long been important information for home-buying families. If you have children or are thinking about having children in your new condo, you'll want to discuss school information and statistics with your real estate agent. Not only is it important to consider the location of your condo relative to area schools, but you'll also want to think about the quality and diversity of local school offerings. Your real estate agent can provide both public and private school information for all the neighborhoods in which you're considering buying a condo.

3) Commuting

For many condo-owners, commuting from home to work and back is a necessary evil. Some people feel that a long commute can detract from their quality of life and the time they get to spend at home. Commuting should be a critical factor in home selection, because in many communities, traffic backups are increasingly common. And today, this phenomenon applies to urban, suburban and even rural areas. If having little or no commute to work is important to you, convey this to your real estate agent.

4) Community Details

Whether you hope to buy a condo in a vibrant urban neighborhood or a charming rural town, the demographics, details and community statistics of a particular area are almost as important a consideration when buying a home as the details of the house itself. Even more significant in a condo-living situation is information about your condominium's own community. Are most of the residents retirees? Recent college graduates? The community information and statistics of both your condominium and the town or city in which it is located are crucial factors in your home-buying decision.

5) Budget and Condo Fees

For some, the decision to purchase a condo is based primarily on the convenience a condo lifestyle offers. For most people however, the most rigid constraint of home-buying and the central reason for choosing a condo is the buyer's budget. While condos are generally less expensive than houses, a buyer should be aware of additional costs, like HOA dues. Be sure to research the condo association's dues and exactly what those dues include. It's a good idea to check out a one-year utility history for the unit you're interested in, as well.

Thanks to today's creative lending solutions, budget constraints are not as rigid as they once were. Many innovative mortgage options are now available to both first-time and veteran home-buyers. Before beginning a condo search, you should talk to both your real estate agent and your lender about your finance options and ultimately, your budget.

http://AndrewBaumbach.com

http://MilwaukeeRealestate4U.com

http://BayViewRealEstate4u.com

RIP George Carlin

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Mon, 23 Jun 2008 07:40:59 -0500

I woke up today and saw we lost a really funny man. George was 71 and had a history of heart trouble.

I know alot of people may not have always agreed with his style of humor all the time,( myself include) George to me seemed like a guy that always had to push the boundaries. Especailly back in the day when he performed his 7 words you can't say on TV. Which caused a trial that went all the way to the supreme court.

As well as other funny stuff like.

"Why do they lock gas station bathrooms?" he once mused. "Are they afraid someone will clean them?"

There's tons more. I can't help to think of George and not think of something that made me laugh.

Thanks George, i know you were not the most religious man, but I hope you rest in peace.

Just Listed. Huge 3/3 Duplexw/ 2.5 Bath 3239 S 43rd St. Greenfield, WI

Andrew Baumbach Greater Milwaukee Real Estate (Coldwell Banker-HomeSale Realty) — Fri, 20 Jun 2008 18:22:54 -0500

MLS #:

1021308

Status:

Active

Category:

Two-Family

List Price:

$ 219,000

VR Price:		Tax Key:	5310505
Gen. Tax:	$ 5,307	Tax Year:	2007
Zoning:	R4	Lot Size:	.120

School District:	Greenfield	Year Built:	1963
Conforming Use:	Yes	Occ. Permit Required:	N
Flood Plain:	No	Garage Spaces:	2.00
Garage Type:	Detached

Name	Dim	L	C	W
#1 Living/Great Room	12 x 18	M		Yes
#1 Dining Room	11 x 15	M		Yes
#1 Kitchen	12 x 15	M		Yes
#1 Master Bedroom	12 x 14	M	Yes
#1 2nd Bedroom	11 x 12	M	Yes
#1 3rd Bedroom	10 x 11	M	Yes

Name	Dim	L	C	W
#2 Living/Great Room	13 x 18	U	Yes
#2 Kitchen	10 x 11	U
#2 Master Bedroom	13 x 14	U	Yes
#2 2nd Bedroom	10 x 11	U	Yes
#2 3rd Bedroom	10 x 10	U	Yes

This move in condition Duplex is much bigger than it looks. Generous lower features HWFs, living Rm, formal dining room, & master BR with 1/2 Bath Rm. Upper has plenty of space with Lg living Rm, nice size kitchen, plenty of storage space, and 2 porches . Basement features 44x14 Rec Rm with a full Bath. New furnaces, and Central A/C installed in late 07. All this and in a fantastic neighborhood.

For more online information and Pictures please Visit http://andrewbaumbach.com/Property/1021308.aspx

http://AndrewBaumbach.com

http://MilwaukeeRealEstate4U.com