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February 25, 2010 at 02:40 PM · Posted under Steve Bauman
The Bitterberg Group is growing. James Riccaboni is joining the group as a licensed assistant.
James is a full-time realtor and joined Shorewest Realtors several months ago after spending about five years serving in Law Enforcement where he was a field training officer and an instructor for in-service training sessions.
James has demonstrated a willingness to learn and has proven through his early success to possess the abilities and qualities we want representing our group.
A native of Philadelphia, James graduated from Drexel University, with a degree in Business Administration. He then went on to Marquette University and earned a Master’s Degree in Public Service as well as a Graduate Certificate in Leadership and Management while working full-time for Marquette University. He and his wife, Angela, reside in Brookfield.
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Steve Bauman
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February 25, 2010 at 11:52 AM · Posted under Ann Lebiecki
How long does it really take to buy a home?
You may have wondered just how long the process takes: searching, financing, inspecting, closing and finally moving in. If you follow the tips below you can be on your way to getting an accepted offer in as little as 2-3 weeks with a subsequent closing in 30 days. All total 6 weeks! Just in time to take advantage of the Home Buyers Tax Credit that expires April 30, 2010.
Here are a few tips and guidelines to use when planning to buy a home.
- Get pre-qualified. Ask your family, friends or co-workers who may have recently purchased a home who they used to finance the transaction. Set up a meeting with a loan officer to discuss the different loan programs that may be available to you. Right now one great program is an FHA loan. With the right credit scores you can buy a home with only 3.5% down payment and interest rates are very competitive. WHEDA, another government backed loan has just recently become available again too. Of course there is conventional financing that requires a minimum of 5% down (20% if you want to avoid paying private mortgage insurance-PMI). The loan officer will tell you how much of a loan you can qualify for and what your monthly payments would be. There are closing costs associated with the loan so make sure they give you an idea of what they should be.
- Find a Buyer’s Agent. Once you have found out you qualify for a home loan and what price point you are comfortable with, now you want to meet with a Buyers Agent. Not all Realtors are members of REBAC (Real estate buyers agent council) and may not be representing your best interest. In fact in Wisconsin, the agent showing you homes is not representing you the buyer unless you have entered into a formal written agreement called a Buyer’s Agency Representation. If you don’t have that written agreement the agent is a sub-agent for the listing broker and thereby is representing the sellers’ best interest. I offer buyer counseling to my clients where we get together and talk thru the process. I find out the buyers’ needs and wants in a home, and where they’d like to live. We discuss agency relationships, viewing homes and contingencies like financing and home inspection. We then pull up on the computer homes that meet their criteria and pick out ones to view. At the end of the 90 minute meeting we typically have a date set to go out on tour.
- View Homes. The beauty of working with one agent in the buying process is that he/she will set up the tour of homes and gain access to them for you. You can block out a few hours and depending on the location of the homes see 6-10 homes and get a great picture of what your dollar can buy. There is no need to wait for open houses, as some homes are never held open and sold even before the first open house.
- Write the offer. Once you’ve selected the home you’d like to buy, you submit a written offer on a state approved form. Your agent will walk you through the process and explain the forms and include any contingencies necessary.
- Finalize the closing. Once you’ve gotten an accepted offer and satisfied any of your contingencies you can set up closing. Closing is set from 9am-4pm weekdays and takes about an hour. After the closing you are the proud new owner of a home.
If you’d like more information on homes for sale or a lender referral, just give me a call 414-510-1908.
Posted by:
Ann Lebiecki
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February 23, 2010 at 10:56 AM · Posted under Colleen Kuchta
On Thursday, February 18, 2010, the Feds raised the discount rate to 0.75%. It was previously at 0.5%. What is the discount rate? It is the rate that the Federal Reserve charges to banks for borrowing short-term funds.
So how does that affect you? Mortgage rates are on the rise. When there is an increase in the interest rates being charged to banks, you can be sure that the banks will follow suit and increase the interest rate being charged to consumers. Another thing that will be driving interest rates up is the fact that as of March 31, 2010, there will no longer be help from the government to keep mortgage rates under control. When lending money, banks typically create giant pools of home loans and turn them into securities that can be traded on the open market. Normally, investors buy these mortgage-backed securities, providing a stream of money for lenders so they can make loans at relatively cheap rates. When the financial crisis struck, many investors pulled out leaving the housing market in a panic.
That is when the Feds stepped in. The current interest rate is low because they became the only major buyer of the mortgage-backed securities; this gave them control of the rates being charged to consumers. The Treasury stopped buying mortgage securities this past December, and as of March 31st, they will no longer be purchasing securities.
What does this mean for rates? Some officials are saying rates will rise modestly. Still, others warn that mortgage rates could shoot up, perhaps to 6 percent or higher because private investors buying securities would demand a greater rate of return than the Fed. We will just have to wait and see.
Want to take advantage of these low rates? Contact The Kuchta’s – Kelly & Colleen at 262-894-6512, or just send us a quick email to ckuchta@shorewest.com . Don’t miss out on your opportunity to reach the American Dream of owning your own home!
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Colleen Kuchta
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February 23, 2010 at 09:19 AM · Posted under Brown Deer, Pat Tasker
If you are looking for a suburban location, but want to keep drive times to a minimum, Brown Deer might be just the place! Located in the northeast section of Milwaukee County, Brown Deer is close to I43 for a quick commute south to downtown, or day trip north to Green Bay or weekend in Door County.
Brown Deer Park is a jewel in the county park
system with something for everyone, including a
championship golf course formerly on the PGA Tour!
The Interurban Bike trail starts in Brown Deer and goes
all the way to Sheboygan with many fun stops on the way.
Brown Deer history
starts way back with the first settlers in 1835. That
reminds me of a home I sold on Sherman Blvd that was one
of the oldest homes in the village, it actually had tree
limbs for the roof joists! While there are many stories
of how Brown Deer got its name, one of the best stories is
that of a card game going on in a saloon and a brown deer
jumped through the window!
Over the years the village grew in stages from small
cottages, to the ranches of the 50’s, larger colonials in
the 70’s & 80’s, and a flurry of newer construction in the
2000’s. One of those newer homes is currently for sale. A gorgeous newer home ready to move
into. A great location in a private wooded area, closer
to Mequon than most of Brown Deer!
Two unique points about Brown Deer make it a great place
to live. The school complex occupies a large square area
with ALL PUBLIC SCHOOLS ON ONE CAMPUS, so from
Kindergarten through senior year classes, sports and extra
Curricular activities are in one area, VERY CONVENIENT for the busy
family! Another nice feature is the village hall, police
department and village park are located together. The
park is the home to the village swimming pond with a raft,
sand beach and new bathhouse.
Whether you are looking for a home in a suburb or the
city, call Pat Tasker 262-437-5853, today to discuss the
variety of suburbs in the Metro Milwaukee Area.
Posted by:
Pat Tasker
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February 19, 2010 at 02:42 PM · Posted under Area Attractions & Events, Mickey Koch
The Big Pig Gig, scheduled for September 17 and 18, 2010 is back after a year off.
The Menomonee Falls Community Chamber is bringing back the barbecue, music and entertainment festival after evaluating the past events and their popularity with the community. The 2010 Big Pig Gig promises to be bigger and better with a new location to be announced soon!
I think that local area businesses will see a larger impact from the new ideas being thrown around by this year’s committee members and staff. The event has always been well attended and this year is shaping up to be nothing less.
If you or your company is interested in volunteering or sponsoring this year’s Big Pig Gig, please feel free to give me a call at (414) 416-0704, or email me at mkoch@shorewest.com.
Posted by:
Mickey Koch
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February 19, 2010 at 02:25 PM · Posted under Pat Tasker
Just launched to the public February 16th, 2010, “HouseLogic is a homeowner’s single source for information to protect, maintain, and enhance the value of your home.”
HouseLogic.com is a FREE online service brought to you by National Association of Realtors to help homeowners whenever you are looking for advice on your biggest investment-your home. At the NAR conference in San Diego last November, I had a chance to preview the new interactive website. The new site helps you track remodeling projects, improvements you make to your home, get advice on resale value of improvements and much more!
According to the press release February 16th :
If you are looking for more advice regarding remodeling projects, get an expert opinion 
regarding the resale value of your choices by calling Pat Tasker at 262-437-5853. “By regularly attending educational events like the NAR conference, I can deliver to my clients the latest developments in the real estate field.” Call today to take advantage of that advice!
Posted by:Pat Tasker
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February 17, 2010 at 08:50 AM · Posted under Menomonee Falls, Mickey Koch
Yes Yes and Yes!
Just a quick story I remember from a past transaction. Sarah and I listed a home in Menomonee Falls a few years back. It was very small- right around 900 square feet. You walked into this home and it was furnished perfectly. It was straight out of Pottery Barn! The furnishings fit the space and the walls had mirrors to make the rooms seems larger. They were decorated with accents that match the furnishings and carpet. And they had very few family photos that allowed the buyer to see themselves in the space and not the seller.
That home was purchased in less than a month by a woman that was coming from out of state. She viewed the home and loved it and wrote an offer right away. She closed a month later and had all of her furniture shipped to the new home… None of it fit. Everything she owned was too big for the spaces in the home. She ended up having to buy new furniture for almost every room. Why did this happen? Because the buyer fell in love with the “feeling” the home had. She totally forgot to keep in mind what would happen when the sellers’ belongings were removed and hers put in there place.
Is this a good story? It depends on how you look at it! It was truly a bummer for the buyer but she dealt with it. But for the seller who had a home that they knew was small and would have a hard time selling it couldn’t have worked out better! They loved the home and had it decorated the way they liked and in the end it was that sense of space and style that sold there home quickly and for more money then if it was vacant.
The moral of the story is this: people may tell you that you have to stage your home and even more people may tell you that people can see past your belongings. But at the end of the day you’re selling more then just a home when you put your house on the market- you’re selling someone’s dream! And the more you can do to make that dream as visible as possible upon entry, the more buyers you’re going to have interested in your home.
Remember! Clean, de-clutter and de-personalize, and if your real estate professional says your home would benefit from staging by a professional please hear them out. They may just know what they are talking about…
Posted by:Mickey Koch
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February 15, 2010 at 11:29 AM · Posted under Mickey Koch
If you haven’t already heard the $8,000 first time buyer tax credit was extended and a current homeowner tax credit of $6,500 was added. To take advantage of either credit you must have an accepted offer by April 30, 2010 and close no later than June 30, 2010. Ask me for more details to see if you qualify (414.416.0704 or mkoch@shorewest.com).
In addition to the credits, many buyers, first time or thereafter, are realizing that this real estate market is a great opportunity to take advantage of low sale prices and historically low interest rates. Many economic experts are telling us that after the tax credit deadline, we could see interest rates take a sizeable jump higher. Most are predicting at least 6%.
So, what exactly are we getting at here? Well, for starters, the Wisconsin housing market is predicted to return to 2006 pricing levels between 2014 and 2017. That is a long way away. If you have thought about a move between now and then, consider this example:
You are comfortable paying $1300 per month (principle & interest only) on a 30 year mortgage for a new home. Monthly Payment: $1300 @ today’s interest rate of 5.25% = the loan amount of $235,420 or a $244,000 purchase price with 3.5% down.
VS.
Monthly Payment: $1300 @ 6.25% = the loan amount of $211,135 or a $219,000 purchase price with 3.5% down.
Here’s the conclusion: If rates jump up even by 1%, it just lowered the price of the home you can purchase by $25,000!
What if you have a house to sell?
The news is really the same - if you can sell now and you want to move before 2016, now is the time!
Could you make more money on your house if you wait? Possibly, but consider this example:
Sell a $200,000 home in today’s market and buy a home with a loan amount of $250,000 vs. the projected scenario for the same properties in the 2016 market.
TODAY
| Sale Proceeds |
New Loan Amount |
Monthly Payment |
| $0 |
$250,000 |
$1380.51 at 5.25% |
VS.
Waiting until 2016
| Sale Proceeds |
New Loan Amount |
Monthly Payment |
| $15,000 |
$265,000* |
$1631.65 at 6.25% |
*$265,000 using the proceeds of $15,000 from sale of current home to purchase a $280,000 home.
Remember, if your home price increases, so do the prices of the homes you want to buy.
Here’s the conclusion: Even if you wait for your home to increase so you can get more money when you sell to put down on a new one, you will still pay a higher mortgage payment each month because the interest rate will be higher.
We realize that this can be very confusing, but felt that it was really important for all of you to know. We would be happy to talk with you further about your particular situation to see what makes sense for you. Just give us a call at 414.416.0704!
Posted by:Mickey Koch
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February 15, 2010 at 07:15 AM · Posted under Pat Tasker
Ever wonder why so many homes go on the market, yet just a fraction of those homes actually go to a closing? While it is always a combination of location, condition and price, it really comes down to one thing: PRICE.
If a home is in a harder to sell location, it will sell with the right price. If the condition is poor, it will sell with the right price.
In today’s market it takes a COMPELLING PRICE to get your home chosen over the others it is competing against. Today’s market is a cross between a beauty contest and a pricing war. It has to look great AND be priced right. If not, it will linger on the market with the other homes….buyers will look, but without a compelling price, they will “keep looking.” You really want it priced where they leave and worry it might be gone if they don’t move fast. I call that the “worry price.”
The big question in a sellers mind is “How do I price it to sell, but not lose money by under pricing it?” That is when the help of an experienced Realtor is most important.
With 20+ years of experience I can read the market and tell you where your home needs to be priced to get it sold. This is not the market to choose just any agent, or a “friend in the business”. In today’s market, you need an expert, feel free to give me a call! Pat Tasker
252-437-5853 CALL TODAY FOR A FREE REPORT OF 2010 MARKET INDICATORS!
Posted by:Pat Tasker
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February 15, 2010 at 07:10 AM · Posted under Mickey Koch
Starting March 1, 2010 WHEDA loans are back in Wisconsin! The WHEDA Fannie Mae Advantage allows buyers to bring less cash to the closing table and will allow them to have lower monthly payments than most conventional loan options.
With as little $1000 minimum contribution the borrower may finance up to 100% of the purchase price with a low 30 year fixed rate. Buyers also still may qualify for the $8000 Federal First-Time Home Buyers Tax Credit if they enter into a contract by April 30, 2010 and close by June 30, 2010.
Buyers must be first time home buyers, must complete the pre-purchase home buyer education course, must owner occupy the property but single family homes and duplexes are allowed. Purchase price and income limits apply.
What does this mean? It means that affordable loan products with low or no down payment options are back. Buyers with good credit can once again get into that home of their dreams with less cash up front.
Get all of the latest information here.
Posted by:Mickey Koch
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February 12, 2010 at 03:15 PM · Posted under Mickey Koch
Here is a quick illustration on why it is not a good idea to wait to sell and buy if you are at all able to do so now…
Current Numbers for a $300,000 loan amount….
- Loan Amount: $300,000.00
- Interest Rate: 5%
- Loan Term: 30.00 years (360 months)
- Mortgage Payment: $1,610.46
- Total Interest: $279,769.69
- Total Payments: $579,769.69
Numbers if you wait until 2016 when the market is projected to be anywhere near 2006 prices.
- Loan Amount: $340,000.00 (This is likely what a $300,000 home today will cost when the prices go back up)
*Interest Rate: 6.5% (This is a estimate of the rate, it could be much higher)
- Loan Term: 30.00 years (360 months)
- Mortgage Payment: $2,149.03
- Total Interest: $433,652.21
- Total Payments: $773,652.21
So you would pay roughly $540 more a month. $40,000 more for the same house and $154,000 more over the life of the loan!
Even if you don’t make a dime on the home you’re selling if you have the ability to buy now, you will way better off in the long run.
Posted by:Mickey Koch
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February 11, 2010 at 08:31 AM · Posted under Colleen Kuchta
If you are looking for a great place to settle in and call home - The Village of Jackson may be just the place for you. 
Jackson is located just 15 miles north of Milwaukee and 6 miles south of West Bend via Highway 45 in Washington County. This community has a small town feel and offers plenty of beautiful rural countryside.
There are two parks in the Village of Jackson. Jackson Park offers baseball & little league fields, tennis courts, basketball, 2 playgrounds, sand volleyball, soccer, concessions and covered pavilions.
Hickory Lane Park offers several soccer field geared to different age groups, playgrounds, a softball/little league field, basketball court, concessions, and sand volleyball courts.
The brand new Community Center focuses on family togetherness and is a great place to play, get fit, or take a class. The Community Center adult classes include: photography, jewelry making, sewing, various fitness classes and more. Youth classes include: cake decorating & cooking, painting, rocketeering and a Red Cross babysitting course, too. Several Fridays a year the Community Center offers a ‘family fun night’ with movies, dinners, parades, or Mardi Gras themes.
Whether you are looking for an apartment, a single family home or condo; you will have great neighbors. Home prices range from $84,000 for a 2 bedroom condo up to $1,060,000 for a 5 bedroom home in an exclusive subdivision. The Village of Jackson is a tight knit, family friendly community. The Village of Jackson is one of the fastest growing communities in Washington County. You can take a look for yourself at the village web site: www.villageofjackson.com. Need help finding a place to settle in? Let us help you! The Kuchta’s - Kelly & Colleen, 262-894-6512 or thekuchtas.shorewest.com. We are happy to help.
Posted by:Colleen Kuchta
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February 05, 2010 at 10:46 AM · Posted under Pat Tasker
Read that again, I said SUPER SUNDAY….Did you think I meant Super Bowl Sunday? Well that too! But when you work in the profession I do, every Sunday is Super Sunday.
Open houses abound and it is a chance for potential buyers to take a peek inside of homes they’ve seen online. It is a chance for sellers to open the door and show off the home they loved and now have on the market.
Every job has its plusses and minuses. Working weekends is just part of our job in real estate, and Sunday is one of the most productive because of open houses! THIS SUNDAY WILL BE NO DIFFERENT! The Super Bowl starts late afternoon, 
so even if you are going to a party, you have a chance to stop at some opens. For a full schedule, check out this link to view local open houses.
There is much hype about the Super Bowl, who’s playing, how they got there, who should have gotten there, who’s the half time entertainment and of course the commercials!
Monday morning there will be all the rehashing of the evenings entertainment and the outcome. Here are some top Super Bowl plays from years gone by.
Personally after what New Orleans has been through as a disaster city for the last few years, I’d love to see them go home winners….How about you? Other winners this weekend will be the buyers who get out there and find a dream home on Super Sunday!
Posted by:Pat Tasker
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February 04, 2010 at 03:57 PM
Luxury can be defined as very rich, pleasant and comfortable surroundings. Luxury can also be defined as The Glen at Blackstone Creek in Germantown. This magnificent community offers a private clubhouse, outdoor pool, a fitness room, open air amphitheater, a putting green and walking trails among tranquil ponds.
The Glen at Blackstone Creek condominium development features ranch homes situated on the Blackstone Creek Golf Course. These luxury ranch homes can be free standing or side by side units with private patios. Home features include open floor plans with dramatic ceiling heights, hardwood floors, granite counters, 6 panel doors and custom millwork throughout.
There are currently 9 homes available for immediate move-in. All available homes feature 2 bedrooms and a minimum of 2 full bathrooms.
These luxury homes range in square footage from 1,570 - 2,623 and offer full basements, all plumbed for a full bath, some with full size windows and walk-outs.
Future homes will also feature open floor plans with dramatic ceiling heights, hardwood floors, granite counters, 6 panel doors and custom millwork throughout. These upcoming luxury homes will range in square footage from 1,594 - 2,008 and offer full basements, all plumbed for a full bath, some with full size windows and walk-outs or can be built as slab on grade.
The Glen at Blackstone Creek is an Epcon Community, featuring quality built homes that are distinguished by visually exciting interior and exterior design elements and superior construction materials. There are choice lot and home packages available for you to customize. Call The Kuchta’s - Kelly & Colleen (262-894-6512) for more information, or check out our website: thekuchtas.shorewest.com today! More information is just a ‘click’ away.
Isn’t it time to stop shoveling and cutting the grass and start living your life? Make the move to a luxury condo at The Glen at Blackstone Creek - your new life awaits!
Posted by:Colleen Kuchta
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