What is the West Allis Realestate Market like? - 09/27/08 06:39 PM
 
In West Allis from January thru September there has been 102 fewer sales in 2008 than in 2007.  That is 16.53 % reduction in 2008 from 2007.  There were 127 fewer new listings that came on the market in 2008 than 2007, or 9.61%.
Over the year the properties that have sold had an average time on the market has been 84 days and 29 days to close (according to the MLS). 
Over the last month the average sold price has been $157,159 and the list to sale price ratio has been 96.48%. 
The current inventory is 609 active listings … (0 comments)

What Happens Now With THE BANKING SYSTEM WITH WAMU FAILURE - 09/26/08 06:36 AM
Today the news is that Washington Mutual Bank has failed and the investors who had stock in the company  have lost everything.  JP Morgan Chase has taken over all the assets of the bank and will be a very profitable company next year.  What this means the bad loans at wamu will be handled aggressively, because no one will be concern about bad loans hitting the press or effecting investors perception. 
However, what does this mean for the 110 other banks that are in a ssimilar situation as WAMU.  If you are old enough to remember the RTC form the Saving and … (0 comments)

Is There A Good Contact At Chase Bank in Loss Mitigation (Modifications) - 09/24/08 05:59 PM
I am working a case that has an approved modification that a loan officer/Notary dated the commission expires date incorrectly.  The date indicated was prior to the signed date.  The date should of been 2009 and was written 2008. 
 
The issue is that Chase has indicated that the error can not be corrected.  That a whole new package needs to be completed and submitted. The only  thing wrong is the signature and notary on one page. However, it appears, that Chase is having a difficulty sending out the package.  Talked to 4 different people and got 4 different answers with different time frames.  The attorney … (0 comments)

REO Sales as is condition no credits - 09/23/08 05:05 PM
Recently I was negotiating a REO offer as a buyers agent.  It is normal that the purchaser would have to purchase the property in as is condition with loan pre-approval.  However, this time they indicated that the lender would not allow a home warranty paid by the seller or a credit for a home warranty that the buyer would use to purchase a home warranty.  In addition would not allow seller paid gap insurance or a credit to pay for gap insurance.
Has everyone notice these type of practices with reo's they have been negotiating?
 
… (0 comments)

What is the Muskego Wisconsin Real Estate Market Like? - 09/20/08 11:13 AM
Comparing the solds in 2007 to 2008 there has been 20% fewer sales, from January thru August.  That is 42 fewer sales.  During the same period new listings have decreased by 17/%.
During the last 30 days the median sold price was $228,000 and the sold price was 96.21 % of the list price.  The average days on market was 97 days.
There are currently 264 properties actively listed properties with a average price of $358,808 and an average time on the market is 142 days.  The highest price is $5,900,000 and the median price is $290,000.
 
The most sold … (0 comments)

Is there money still available for commerical properties - 09/15/08 08:47 PM
I have a customer with a mixed use property (home and business) that is in foreclosure and agreed to a repayment plan for 16 month that they can not afford.  The loan was a 5 year loan that comes due 2010 which is about the time the repay plan would be completed which would make it difficult to refinance.  So looking for a loan for $36,000 ( deliquent payments) or a way to refinance out of this mess.
So far the people I have contacted indicated would only lend if loan to value was less the 60%.  The other lender indicated nothing could … (1 comments)

 
Keith Manson (First Weber Group/short sale/cdpe/gri)

Keith Manson

Muskego, WI

More about me…

First Weber Group/short sale/cdpe/gri

Address: 10521 Layton Ave, Greenfield, Wi, 53228

Office Phone: (414) 543-7800

Cell Phone: (414) 254-7313

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