tips for home buyers: Energy Efficient Upgrades - 02/26/10 09:08 AM
When walking through a home, the eye-catching higher end details often stand out. Great hardwood floors. Solid surface counter tops. Wonderful paint colors. Garden tubs. Six panel, solid wood doors.
Don't forget to ask about the things that are not as easy to see. Look for higher end upgrades in energy efficient features. These upgrades in a home will not only improve your comfort, but they also will save you money, making a home more affordable in the long run.
Take a good look at the windows. Are they a basic builder's grade window, or has the homeowner splurged … (3 comments)

tips for home buyers: 73 days and counting for the tax credit - 02/18/10 01:56 AM
Are you eligible for the $6500 tax credit? We covered the details in December, so take a look if you want to check. There are 73 days and counting left to get an accepted offer.
You must have an accepted offer in place no later than April 30 and close on the home no later than June 30 in order to qualify for this tax credit.

New $6500 Tax Credit for Current Homeowners … (2 comments)

tips for home buyers: First tim home buyer's tax credit extended and expanded - 11/19/09 04:42 AM

(All the details on the expanded and extended homeowner's tax credit as explained by the CEO of Coldwell Banker, Jim Gillespie)
President Obama has signed the extension of the First Time Home Buyer's Tax Credit. This is exciting news because this bill also expanded the parameters of the Tax Credit, allowing for larger income maximums of the people receiving the credit.
Move Up Buyers are also considered in this tax credit. People who have lived in and owned their primary residence for at least 5 years are now eligible for a Move Up Credit of $6500.
… (1 comments)

tips for home buyers: "As-is, where is" provisions - 09/24/09 07:49 AM
Usually when a buyer is purchasing property or a home, the seller provides a form called a real estate condition report. The seller is legally required to make no mis-representations about the property and its condition.
Sometimes, though, the condition report is not filled out or the contract contains a provision that states "The buyer accepts the property as-is, where-is. Seller makes no warranties, expressed or implied." This happens most frequently in the case of bank-owned properties (foreclosures) or when a personal representative fills out the documents for an estate, but it can also happen in regular transactions as well.
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tips for home buyers: Tips for taking the trauma out ouf home buying - 07/30/09 04:33 AM
Buying a home can be a frightening process, even if you have done it before.  The National Association of Realtors has assembled the following list of tips to help ease the process:1. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.2. Don’t try to be a killer negotiator. Negotiation is definitely a … (1 comments)

tips for home buyers: New Asbestos Disclosure Rules in Wisconsin - 07/09/09 07:56 AM
Asbestos in homes is more common than most often realized. It can hide in the insulating wraps around pipes, in the siding or in the insulation. The only way to know for sure that asbestos is in a home is to test for it. However, industry experts recommend only testing materials that are damaged or have been disturbed. Undisturbed asbestos in good condition will not normally release fibers into the air.
New rules regarding asbestos went into effect in Wisconsin in May of this year. Vermiculite insulation, which is often found in older homes, now is assumed to contain asbestos unless … (4 comments)

tips for home buyers: Interest rates, the market and when to buy - 06/29/09 02:56 AM
Up, down, down some more, up a little, down a little. Interest rates have been zigzagging in recent months.
One thing is for certain, these current levels are historically low.
Mortgage interest rates are based off of prime rate. Looking at the history of prime, going back to 1947, is amazing. Prime has flucuated from 1.75 to 21.5. Take a look at the figures in that chart. The levels we saw in recent months are incredibly and buck the historical averages. As of June 1, prime was 3.25. This is a level we saw in December 2008 for the first time … (1 comments)

tips for home buyers: First Time Home Buyer's Tax Credit Questions - 06/02/09 03:50 AM
When in doubt, go to the source.  There is so much confusion and misunderstanding about the first time home buyers tax credit these days.  I know that if I am unsure if buyers will qualify, the people to ask are the mortgage lenders and tax professionals. 
This set of scenarios and answers is from Steve Bechtolt, vice president of residential lending here at Wisconsin Community Bank in Monroe. Steve and the people at WCB are very helpful, and I would not hesitate to recommend any of them to buyers looking for financing.
First-Time Homebuyer Credit: Scenarios
Q. If a single … (1 comments)

tips for home buyers: On the tax credit, down payment issues and - 05/26/09 10:43 AM
As the old saying goes, if it sounds too good to be true, it probably is.  I've been hearing a lot of talk around here lately about the $8000 tax credit and using it for a down payment on a home.
Earlier this month, there was a lot of horn tooting excitement because it was announced that it would be possible to use the anticipated tax credit refund as collateral for a short term loan which could then be used as a down payment for a FHA mortgage. This was thrilling news for many first time home buyers out there, and … (3 comments)

tips for home buyers: Veterans, remeber about VA loans - 05/13/09 06:15 AM
When people start talking financing for a home purchase, some are amazed by the variety of loan products out there.  There are many types of home loans out there: conventional, 80/10, FHA, Rural Development, and much more. One type that we do not commonly see utilized is VA loans.
VA loans are available for Veterans of the US Service Branches. VA guaranteed loans are loans made by private lenders that are then guaranteed by the federal government in case of default.
VA loans offer several benefits for home buyers. They can often be made with no downpayment required. The interest rates … (4 comments)

tips for home buyers: Old homes meet modern life - 03/24/09 02:47 PM
I am a huge fan of older homes, but they are different from newer construction. By going in with eyes wide open, buyers can save themselves headache and heartache later down the road.  If you are looking at an older home, pay attention not just to the stunning woodwork or charming quirks, but also look for some of the things that will make your modern life in the home easier.
Are the outlets in each room? How many? Many older homes tend to only have a few outlets run to some rooms, especially bedrooms. This can limit your ability to arrange … (3 comments)

tips for home buyers: Location, location, location - 03/10/09 05:22 AM
Urban or rural? Subdivision, downtown or a home on ten acres? Look at your lifestyle, your wants and your needs, then narrow down the location that works best for you.  When you are buying a house, pay careful attention to your location.
Where do you want to live? What lifestyle do you want? Do you want a larger lot in the country? Do you want to live close to work? Are school systems important to your family? These are all things that are important to think about as you begin looking at homes.
Consider both what features you will look for … (4 comments)

tips for home buyers: Working with a Buyer's Agent - 02/17/09 05:28 AM
As you begin the home buying process, your Realtor will likely ask if you want him or her to work as a Seller's Agent or a Buyer's Agent. What is the difference?The state of Wisconsin requires that we as Realtors have a signed contract with one of the parties involved in the sale of home. Unless you are looking at an FSBO, the sellers have a signed contract with the listing agent. With MLS and Wisconsin rules, the Realtor helping the buyer can be considered a subagent of the Seller. It is like building a home. Someone hires a general contractor … (2 comments)

tips for home buyers: Ten Tips for First Time Home Buyers - 02/09/09 02:05 AM
The process of buying your first home can be wonderful and worrisome at the same time. For most people, their homes are the largest purchases they will make in their lives. You might wake up at three a.m. worried about taking on the mortgage. You may start mentally arranging your furniture and forget to look at windows and roofs.You may be tempted to look "just $10,000 higher" than you can truly afford. Approaching the processes sensibly is important.
If you are thinking about buying your first home, consider these tips from the National Association of Realtors:
1. Be picky, but don’t … (2 comments)