Appleton Wisconsin Mortgage & Real Estate Resources

There are just 81 days remaining for Homeowners with the desire to take advantage of a new home tax credit worth up to $6,500. The deadline is creeping up on us. You have until April 30, 2010, to get a deal under way. Is it time for you to get moving?

Before you decide, see if you can answer "yes" to these four questions.

1. Are you already in the market? - Let's assume you qualify for the tax break. That means you've been in your current home for at least five of the last eight years consecutively, you're purchasing a new principal residence -- not a vacation home -- that costs no more than $800,000, and you meet the income threshold -- $125,000 for individuals and $225,000 for joint filers -- to get the full $6,500 credit.

Keep in mind that the tax credit is yours unless you sell or stop using the home as your principal residence within three years after the date of purchase. Qualified home-buyers have the option to take the tax credit on their 2009 or 2010 income tax returns, so be sure to consult your tax authority so you get the most bang for your buck.

Here are a few things to consider as you contemplate your decision... If you were already planning to move, the tax credit can help you recoup some of those repairs you've been putting off to get your home ready for sale. Another consideration is the desire or need to up size or downsize, to move closer to family or to make room for an aging parent.  

2. Do local market conditions look favorable? - There are three reasons why now is the right time to upgrade your home.  First, interest rates are as low as they've ever been in our lifetime.  Second, prices are very competitive, and you can buy a lot more home today than you could three years ago. And thirdly, the first-time buyer tax credit. Over the course of the last 12 months, first-time buyers are eating up the majority of good inventory due to its affordability. This is great news for sellers!!!  

 3. Can you sell your house in time? - You'll have to in contract on the purchase of the new home by April 30, 2010 and closed by June 30, 2010. If you are active in the US Military, this deadline has been extended for an additional 12 months.  Certainly nobody wishes to be carrying two mortgages, so your best bet is to get your home on the market a.s.a.p. to take advantage of this great tax incentive before time runs out.   Be sure you do your research before taking the plunge. A quick call to a reputable Realtor will provide valuable insight on your market area. If you need a referral, I am happy to point you in the right direction.

4. Can you close the expense gap? - While the tax credit can help offset expenses like home repairs and the seller's commission, $6,500 will only stretch so far. If you are upgrading, keep mindful of your equity position on your existing home and available cash to cover the new down payment.  If you're counting on the tax credit to cushion the higher mortgage cost of your new home, that's a red flag.  The last thing you want to do is over extend yourself just to take advantage of the tax credit. Planning is essential.

While the tax credit can be a financial boost to many homeowners who are ready to buy again, the purchase of a home should never be a tax-based decision. The $6,500 is a treat; a cherry on a sundae.  The sundae is the historically low home prices, substantially low interest rates and sellers willing to bargain.

Remember, the clock is ticking and as of this post, only 81 days left. If you are considering this, DO IT NOW..... We are here to help facilitate the transactions and help successfully market your property.

 Until next time..... make it great Wisconsin - big smile.....

Kim & Bill were ready to find their first home.  After making a few quick phone calls, they received an informal pre-qualification to go ahead shop for homes. Their imagination had been working overtime and the picture of their first home was clear in their mind. They could imagine the perfect neighborhood, the most darling little house with the greatest backyard; their new home everything they ever wanted. They invested a couple hundred hours finding their little treasure, spent several hundred dollars on fees and property inspections, took a deep breath, and placed an offer. They had their heart is so set on the home that they began telling their friends the new address, and set a date for their house warming party.

And then the bank calls with this little tidbit of information - We are sorry but your mortgage application has been denied!!!

Kim & Bill could have saved themselves from this heartache if they would have been formally PRE-APPROVED. It is so important to understand the difference between a pre-qualification and a pre-approval... In fact, it is highly recommend you get a written Pre-Approval Letter before you go any further in the home-buying process. 

Let's take a look at the differences . . . 

What is pre-approval?

It's basically a quick-and-dirty look from a lending institution at your creditworthiness. With a pre-approval letter in your hand, you're immediately in a stronger negotiating position with any seller, not to mention the peace of mind knowing that when you get the offer accepted, you are likely to get the keys to your new home...

But be aware that there are two types of "pre" letters:

• Pre-qualification is an informal agreement between you and your lender. The bank gives their opinion on how much they think they will be able to lend to you based on iinformation that you have provided to them. Your bank doesn't do any background check s at this point. It relies solely on you portraying an accurate picture of your circumstances. Pre-qualification is more like a friendly handshake, and once material facts are reviewed, the lender can decide not to give you the loan based upon their review of your official iinformation. This is the mistake Kim & Bill made....  
  
• Pre-approval is more serious. The bank will actually check your credit history, employment information, assets, and liabilities. The only thing they won't check is the property that you plan to buy, because, of course, you haven't found it yet! We highly recommend that you get a pre-approval BEFORE you begin physically looking at homes. It will put your mind at ease while you search for your new home and make the entire experience much less worrisome. Beware of lenders who charge for a pre-approval. A reputable mortgage lender is happy to spend time with you to review the process and answer any questions you may have.

Getting pre-qualified simply indicates that you have told a lender your income level and your debt and credit iinformation, and the lender has estimated what you can afford; Opposed to a Pre-approval, which is an in-depth review of your income, assets, debt to income ratios and credit. A Pre-Approval will provide you with peace of mind when making an offer on your new home.

I hope this iinformation has been helpful. If you have any questions about this process, please feel free to give me call or shoot me an email. I am here to assist you and help make your dream of home ownership a reality.....

Buying a home carries certain levels of stress, but financing should not be one of the stresses. Do yourself a favor and spend some time with a Mortgage Planner BEFORE you go looking for that perfect little home.

Kim & Bill could have saved themselves from this heartache if they would have been formally PRE-APPROVED. It is so important to understand the difference between a pre-qualification and a pre-approval... In fact, it is highly recommend you get a written Pre-Approval Letter before you go any further in the home-buying process. 

Let's take a look at the differences . . . 

What is pre-approval?

It's basically a quick-and-dirty look from a lending institution at your creditworthiness. With a pre-approval letter in your hand, you're immediately in a stronger negotiating position with any seller, not to mention the peace of mind knowing that when you get the offer accepted, you are likely to get the keys to your new home...

But be aware that there are two types of "pre" letters:

• Pre-qualification is an informal agreement between you and your lender. The bank gives their opinion on how much they think they will be able to lend to you based on iinformation that you have provided to them. Your bank doesn't do any background check s at this point. It relies solely on you portraying an accurate picture of your circumstances. Pre-qualification is more like a friendly handshake, and once material facts are reviewed, the lender can decide not to give you the loan based upon their review of your official iinformation. This is the mistake Kim & Bill made....  
  
• Pre-approval is more serious. The bank will actually check your credit history, employment information, assets, and liabilities. The only thing they won't check is the property that you plan to buy, because, of course, you haven't found it yet! We highly recommend that you get a pre-approval BEFORE you begin physically looking at homes. It will put your mind at ease while you search for your new home and make the entire experience much less worrisome. Beware of lenders who charge for a pre-approval. A reputable mortgage lender is happy to spend time with you to review the process and answer any questions you may have.

Getting pre-qualified simply indicates that you have told a lender your income level and your debt and credit iinformation, and the lender has estimated what you can afford; Opposed to a Pre-approval, which is an in-depth review of your income, assets, debt to income ratios and credit. A Pre-Approval will provide you with peace of mind when making an offer on your new home.

I hope this iinformation has been helpful. If you have any questions about this process, please feel free to give me call or shoot me an email. I am here to assist you and help make your dream of home ownership a reality.....

Buying a home carries certain levels of stress, but financing should not be one of the stresses. Do yourself a favor and spend some time with a Mortgage Planner BEFORE you go looking for that perfect little home.

As banks continue to foreclose on homes in Wisconsin, buyers are sure to come across some amazing garage-sale priced homes; but buyers have opportunities to buy homes through a "short sale" before a home goes into foreclosure.

What is a "short sale?" A short sale may be defined as the sale of a home at a price less than the existing mortgage balance; however the ultimate price of a short sale lies in the willingness of the bank to negotiate terms. A Short Sale is a complicated process; and quite a rare occurrence until now.  Without a doubt, short sales transactions are becoming common and will continue to be prevalent over the course of the next year.

It is good advice to consider hiring professional help when you are looking to buy a home.  Look for a Realtor who specializes in distressed properties and specifically certified in the short sale process. A short sale transaction is a specialty field, so you choice of representation should be carefully considered. Be aware of the numerous legal loop holes that can cause the average person could be taken advantage of.

It is very important to realize that the majority of lawyers and real estate agents have little experience with these transactions. In order to be successful, you need to be selective in choosing the professional who will assist you in the process. Keep in mind; the most important consideration is by NOT seeking the expertise of a specialists and going it alone (if not fluent in dealing with pre-foreclosures and bank procedures), you will significantly increase your chance of failure at the bank.

The following 12 steps are a guide, but please consider seeking out the help of a professional who specializes in Foreclosures and Short Sales:

1.  Locate homes which are in default, as early as possible, even possibly before the formal non-judicial foreclosure begins.

2.  Search foreclosed homes with plenty of lead time before the Trustee's Sale (you may need weeks or months of lead time.)

3.  Once you have created a list of such homes, narrow that list to only those homes you would likely purchase for yourself.

4.  Complete an accurate Comparative Market Analysis (CMA) using sold homes with similar features, via a good database such as the local MLS.

5.  Determine the exact mortgage balance and status of default or foreclosure.

6.  Research to find out if there is a second or third mortgage on the house.

7.  Research the possibility of other liens (tax liens, mechanic's liens, labor liens, state liens, etc.)

8.  Determine how best to talk and negotiate with the loss mitigation department of the bank or mortgage holder (email, fax, phone, etc)

9.  Determine whether or not purchasing via the short sale will negate any subordinate loans or liens (another trap for the unwary.)

10. Know which costs and fees in addition to the mortgage balance can be compromised and by how much (experience is the best teacher.)

11. Prepare a comprehensive package to present to the mortgage holder, which is the most critical step in closing a short sale. This should include the Purchase & Sale Agreement, and a thorough analysis of the home, prices, the local market, and justification of your offering price. Your offer must be prepared very professionally or the bank will merely overlook you, without giving your offer a second look. You have to be able to make a case to the bank, as to why they should sell to you at this price.

12. In order to close on a deal in a short sale, you must follow through with all parties involved.

The complexity and difficulty of closing short sales should never be underestimated, even under the best of circumstances. It is hard to find a buyer of foreclosure properties through the short sale process, despite what con artists would like you to believe. You should have some experience before purchasing foreclosure properties; The reckless need to be aware of entrapment.

Buying a foreclosure may be a fast way to lose money if in the process you make major mistakes. On the other hand, because the purchase price is below the current market value of the home, it can be a great way to pick up equity immediately the day of closing. Many people have also come to a dead end with this process after months of frustration.

There are many great people who specialize in the Foreclosure and Short Sale properties. Just please, please do your homework before going it alone. If you are thinking of doing this, please contact me and I will be more than happy to put you in contact with one of my preferred Real Estate Agents that specialize in short sales.

I hope you have found this information helpful, as that is my goal. In closing, if you need help putting together a plan for financing and/or would like to review the various options available to, please feel free to either give me a call, or shoot me an email. I provide this to you as a service and there is never an obligation..... The Sun is shinning . . . Make it a great day....!

I am posting this on behalf of Bonnie Blick of The Property Shop LLC - To Download This Property to Your Phone TEXT "88695" to 79564 This is a great property and bank is very anxious to settle. This is a great opportunity to purchase a real nice home for pennies on the dollar - We have also put together a special financing incentive package that will provide a hugh benefit to the lucky buyer of this awesome property..... Give us a call for more information.....

	3043 Big Timber Cr Green Bay, WI 54313 Village of Suamico
Home   Photo Gallery   Virtual Tour   Property Map   Payment Info   Request Showing   Contact Me   Bonnie Blick Office:   Mobile:   Website: Visit Website	Price : $203,000 Bedrooms : 4 Bathrooms : 3 Square Foot : 2,924 Lot Size : 41,817 County : Brown Property Type : Detached Year Built : 1988 MLS Number : Village of Suam click for more information and pictures Property Description Tucked back into a gorgeous hardwood setting and in a much sought after area this home offering over 2900 sq ft of living space is an exceptional value. Huge master suite with private bath and patio doors leading to pool with wrap around decking and covered patio with hot tub. Living room and family room share a 2 way gas fireplace, large kitchen with built-in range, double oven, dishwasher and grill. Inviting entry has beautiful hardwood floor. This home is only 22 years old and has been updated throughout with bath and kitchen fixtures, flooring, paint, added master suite, lighting. All appliances being included as well as the hot tub. Large attached 2.5 car garage offers plenty of additional storage, partial basement. You'll love the setting and appreciate the convenience of being located only minutes from Green Bay. Call for any additional information or to schedule a viewing.
Equal Housing Opportunity.	The Property Shop LLC : 445 East Main Street - Wautoma WI 54982 :

Here is great information to pass onto your customers - Anyone who settled their first home purchase after November 6, 2009 would appreciate this information - The new IRS Form 5405 is now available.

Unfortunately, the filing must be done the "Olde Fashioned Way" Ironic since a majority of the filers are Generation Y and grew up with a computer.... The IRS will NOT accept the 5405 form electronically, and from what I understand, it could take up to 4 months to get your money.

Please be aware that when filing form 5405, the IRS is requiring a copy of the settlement statement (HUD-1), a signed mortgage statement with the new address, and a copy of either the taxpayer's driver's license, bank statement, or pay stub, showing the new address.

Below is reference to a recent CNN Money article - Make it a great day.....

Although it is currently -1 degrees here in Wisconsin, technology allow us to shop online and get pre-qualified without leaving the comfort of our homes. If you are considering purchasing and taking advantage of great home prices and an abundant selection, historically low interest rates, and a big fat tax credit . . . there is no better time to make your move. Stay warm and enjoy your day...

Jose Cuervo Christmas Cookies

                                             
1 cup of water
1 tsp baking soda
1 cup of sugar
1 tsp salt
1 cup or brown sugar
4 large eggs
1 cup nuts
2 cups of dried fruit
1 bottle Jose Cuervo Tequila

Sample the Cuervo to check quality. Take a large bowl,
Check the Cuervo again, to be sure it is of the highest quality,
Pour one level cup and drink.

Turn on the electric mixer. Beat one cup of butter
In a large fluffy bowl.

Add one peastoon of sugar. Beat again. At this point
it's best to make sure the Cuervo is still ok, try another
Cup just in case.

Turn off the mixerer thingy.

Break 2 leggs and add to the bowl and chuck in the cup
Of dried fruit.

Pick the frigging fruit off the floor.

Mix on the turner.

If the fried druit gets stuck in the beaters just pry
It loose with a drewscriver.

Sample the Cuervo to check for tonsisticity.

Next, sift two cups of salt, or something. Who geeves
A sheet. Check the Jose Cuervo. Now shift the lemon juice and strain your nuts.

Add one table.

Add a spoon of sugar, or somefink. Whatever you can
Find.

Greash the oven.

Turn the cake tin 360 degrees and try not to fall
Over.

Don't forget to beat off the turner.

Finally, throw the bowl through the window, finish the
Cose Juervo and make sure to put the stove in the wishdasher.
Cherry Mistmas

Mortgage Rates Have Dropped, Again!

Mortgage rates are extremely low. Now is the time to buy or refinance a home. Here's why you should act now:

A drop in rates provides a tremendous opportunity to refinance and reduce your monthly mortgage payment and potentially save thousands of dollars over the life of your home loan. It's also a great time to buy a new home.

First-time homebuyers are eligible for an $8,000 tax credit, which does not have to be repaid unless you sell your home within three years.

Repeat or move-up homebuyers are eligible for a $6,500 tax credit if they have lived in their primary residence for five years or more.

These tax credits are available to buyers who sign purchase agreements on a new or existing primary residence between November 7, 2009, and April 30, 2010. Buyers have until June 30 to close on their new homes.

If you're still sitting on the sidelines waiting for housing prices to hit bottom, you should consider that what might be gained from a further drop in housing prices could easily be lost by a rise in interest rates.

Rates continue to be volatile and this opportunity might not last long. Do not wait until next week. Call me today to get pre-qualified. Whether you are looking to buy or refinance, I am here to help. There is never, ever an obligation. I provide no cost consultations . . .  WHY, because it is all about YOU!!!!!

Thinking of buying, thinking of selling, or refinancing . . . There is no better time than now to check into it. Even if you are concerned with some minor credit issues, I have happy to assist...

Make it a great Wisconsin day, and I look forward to hearing from you.....

Did you know that there are over 400,000 veterans living in Wisconsin? Serving our Vets, Active Military Personnel and their families is so fulfilling. Below are some really cool features about a VA Loan....  If you are not working with and helping our Vets and Active Service Personnel living right here in Wisconsin, you are missing out on a great opportunity to give back.

So What's So Cool About A VA Loan?

• Zero Down payment - Still no changes to this guideline
• No PMI - EVER!
• Credit Score Minimum - Still 620 for Federal VA Loans
• No VA Funding Fee (if Veteran is VA disabled).
• Veteran can use a VA Loan to purchase a Multi-Family property (must live in one of the units)
• Veterans can qualify even if they are in a Chapter 13 (verify on-time re-payments for 12 months)
• Loan amounts up to $417,000
• Simple Dimple Low, Low Cost Refinancing

Being an expert in Federal and Wisconsin State VA Loans is just one very small thing I can do to honor our service men and women. They are entitled to the benefits and I am so very pleased to have the opportunity to serve them in this aspect.

Let's work together and pay it forward.

Here are the Wisconsin Statistics - Look how many we can serve and support: