Mike Roth Real Estate Blog

The Market this Winter in the Greater Milwaukee Area

There are many great Metro area homes for sale. Click here to perform full home search, or if you're thinking of selling your home, click here to contact us for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (262) 797-6453 or (262) 798-1162 for a FREE home buying or selling consultation to answer any of your real estate questions.

The end of the year is finally here! The Milwaukee Journal Sentinel encourages sellers to act now on the hot winter market. In fact, the market is so active we’re negotiating multiple offers on our listings now. There are a few reasons for this. Here’s why.

Interest rates will rise. This is a message to buyers! You may have heard about the Federal Government raising interest rates sometime soon. Even as little as a 1% increase significantly impacts payments during the new year. For buyers, a 1% increase could cost you 11% more over the length of the loan in monthly payment.

Sales are up. We’ve experienced 15% more sales this year compared to last year. In the greater metropolitan area, 3,700 were sold between December 2014 and March 2015! This winter, yours could be one of them.

Inventory levels are low. Currently, the inventory level is 70 to 100 homes. Think about that.

The weather is colder. Although a lot of people don’t want to move or show their home during the winter, we might not even have a brutal winter this year. However, you can avoid the frustration and hire a professional moving company to take care of the moving process. Plus, we can always limit the days you show your home during the holidays and even schedule showings by appointment only.

Don’t wait until the spring to sell! There will be as many as 30% more homes on the market as it warms up. The time is now! Act today. If you’re thinking about selling or buying a home this winter, give us a call or send us an email.

Happy Holidays!

The whole team is here today to thank all of our clients this year. Thank you for your continual support and business. Together, we’ve helped over 230 families in the Greater Milwaukee metro area community in 2015. We couldn’t have done it without you! Merry Christmas and happy holidays!

If you or someone you know is thinking about buying or selling a home, please reach out to us today! We’d be happy to serve your real estate needs.

How Can a Counter Offer Help You Get the Deal You Want in a Real Estate Transaction?

The real estate process can be confusing at times, so today I want to briefly discuss one aspect of it that often catches people off guard: counter offers. Often, people don't know how quickly they need to respond to a counter offer.

If you're selling your property and you receive an offer that is unacceptable, you can always counter the offer in either price or terms before submitting it to the prospective buyer. The same works in reverse: if you're a buyer who doesn't like the seller's offer, you can rework the offer to fit your needs and resubmit it to the seller. Counter offers are a nice tool to use when buying or selling real estate. When you're selling, it's a good way to avoid taking a deal that is unfavorable to you without turning the buyer down outright.

Now that you know how a counter offer is used, you're probably curious about how quickly you need to respond with one. When an offer is submitted, there is a Binding Acceptance, the date of which a counter offer pretty much makes irrelevant. In my experience, however, the quicker you respond to an offer or counter offer, the better the chance that you and the other party come to an agreement.

If you have any questions about this topic, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!

The House on Holy Hill

I have an amazing home for sale on 12 1/2 acres with breathtaking views of Holy Hill, one of the most beautiful basilicas that you'll find anywhere in the country.

The home is custom-built, and it's a 4 bedroom, 4.5 bath, 8,300 sq. ft. property. The architecture is unique, with multiple A-frames and a copper roof that make it feel modern and quaint but also rustic and homey. There is also an in-ground swimming pool and an attached 4-car garage.

This property was built in 2011 by Wisconsin Log Homes, and you can see the beautiful mahogany woodwork on the front door. It's apparent that a lot of love went into furnishing this home.

There is a wet bar in the great room, and the kitchen is outfitted with all of the latest and greatest appliances. The ceilings are all vaulted, making this large property feel more like a castle than a home! The mudroom is large, which is perfect if you have kids. There's even a shower in the mudroom designed specifically for your dogs!

The master bathroom has a large Jacuzzi tub with dual fireplaces on each side, and the floors are heated. There is also a large walk-in shower with multiple shower heads, allowing for the ultimate spa experience.

The lower level has a theater room that can house up to twelve people, and there are an extra three bedrooms on that level with walk-in closets. There are also rooms that could be used as wine cellar or storage for hunting purposes. A fully-equipped gym is also situated on the lower level, and it has a sauna and a steam shower attached to it. Last but not least, there is a home gymnasium that attaches to a two-car garage.

This home also uses a geothermal heating system, and there are two tankless water heaters that were both installed very recently.

In the back of the property there is a fully-stocked pond that's 20 feet deep, and it's stocked with bass, panfish, and even walleye! On top of this, there are two deer-hunting stands.

This home is listed at $3.25 million, but for someone who loves the outdoors, this is quite the steal! Please don't hesitate to reach out to me if you're interested or if you know someone who might be!

How to Respond to an Offer on Your Home

Today I wanted to answer a question I’ve been getting quite frequently. A lot of sellers have been asking me about how quickly they should respond to offers on their homes. Normally, when an offer is written, a buyer is going to want to get an answer pretty quickly, usually within 24-48 hours, unless it’s a weekend.

The quicker you respond to an offer as a seller, the better chance you have of putting the deal together. What are your options? If you like the offer, go ahead and accept it. If the offer is not acceptable to you, we strongly recommend making a counter-offer, so you still have a chance at getting a deal done, at least more so than if you would have declined the offer.

If you have any questions about this process and what your options are, feel free to give us a call or send us an email. We can’t wait to hear from you!

How Is Our Market Improving this Year?

The fall is here and we are ⅔ of the way through the year. Today I thought I would give you a quick market update. I’ve been looking at some of the latest numbers and in August 2015, sales in the metro area were up 7% from this time last August! We now have 1,644 homes that have sold so far this year, as opposed to 1,524 at the same time last year.

I was also looking at the year-to-date numbers, and noticed an even bigger trend. Compared to where we were at this point in 2014, sales are up 16.5%! There have been close to 1,500 more sales this year than last year. At the same time, inventory is declining. There are about 8,523 single-family homes for sale right now on our MLS, down 8% from 9,200 last year.

What does this mean? Well, more people are buying due to confidence in the economy and the fact that interest rates have remained extremely low. If you’re thinking about buying, I would consider making a move now due to the fact that you can lock in an interest rate on a 30-year mortgage for less than 4%, which was unheard of in the past.

Rates may rise very soon, so we recommend taking advantage of conditions now and making your move while money is cheap.

If you have any questions for us about the market or how you can succeed in it, give us a call or send us an email. We look forward to hearing from you!

The Benefits of a Home Warranty

Today, I want to briefly discuss how to use a home warranty to help sell your home.

Here at Shorewest, we work with a company called Home Security of America, which provides warranties on the sale of used or existing homes. Many of our clients use these to help sell their home. They are attractive to buyers because they cover heating, air conditioning, plumbing, electrical, and appliances. Essentially, warranties cover the guts of your home, not the structural items like roofs, basements, and windows.

Home warranties cover the buyer for one year from the day of closing. Plus, the seller gets free coverage while they are listing. Homeowners use warranties as a selling feature. For instance, if you have a home warranty on your home, but the three other homes that buyers are looking at do not have a warranty, your home will be viewed in a much more favorable light.

Warranties provide buyers and sellers with peace of mind. If something happens after closing, the buyer isn't going going to call the person who sold them the home, they're going to call the home warranty company, who will then come out and fix the problem. The basic single-family home warranty, which covers all the entities in your home, is about $564. Deductibles range from $75-$100, depending on the plan you go with.

If you have any questions about home warranties, or if you need real estate assistance of any kind, don't hesitate to reach out to us. We would love to hear from you!

How Much is a relisted Home Worth?

I've been getting asked the same questions lately from prospective sellers who had previously listed their home, but failed to sell. One question is "Will relisting my home affect its overall value?"

I don't think it does, and here's why. When we relist your home, the "days on market" that shows how long your home has been listed, is reset to 0. So if you had listed your home previously for 100 days and it didn't sell, when we relist it's going to show up like a new listing. Therefore, most buyers will have no idea that your home previously failed to sell.

Another question I've been getting a lot is, "Would my previous list price affect my home's value today?" It depends. Many sellers improve the condition of their home and that could affect the value positively. The other thing that affects your value is marketing, and if your agent isn't taking the right approach, you won't get as many eyes on the property as you should.

So just because you've listed your home before, it doesn't mean you are doomed to suffer the consequences. Your value will not be affected by anything other than what homes are selling for in your area. If you have any questions for us, feel free to reach out to us via phone or email. We look forward to hearing from you!

Is Your Greater Milwaukee Home Defective?

There are many great Metro area homes for sale. Click here to perform full home search, or if you're thinking of selling your home, click here to contact us for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (262) 797-6453 or (262) 798-1162 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, I cover what is considered a defect in a property home inspection. Home inspections often take buyers and sellers by surprise, so knowing this information will help you prepare for the process!

According to the WB-11 Residential Offer to Purchase, a defect is a condition that would have a significant adverse effect on the value of the property; that would significantly impair the health, safety, or future occupants of the property; or that if not repaired, removed, or replaced, would significantly shorten or adversely affect the normal life of the premises. Here are some examples:

Plumbing: This includes leaks and code violations.
Electrical: If too much power is put to one circuit or if there is illegal wiring, etc.
Furnace: If you have a crack in the heat exchanger.
Basement: Cracks in walls or seepage would qualify as defects.
Roof: Missing shingles is a common defect.

What items are not considered defects? Here are a few examples:

Cosmetic: Peeling paint, for instance.
Old systems: Older furnaces, water heaters, and other appliances aren't defects if they're still functional.
Old roof: The life expectancy of many roofs are 25-30 years, or more in some cases.

Defects that show up on a property inspection need to be disclosed to any other purchaser who might be interested in your home. If you have any questions about the inspection process, or if you need real estate assistance of any kind, give me a call or shoot me an email. I would love to give you a hand!

What You Should Know About Greater Milwaukee Real Estate

There are many great Metro area homes for sale. Click here to perform full home search, or if you're thinking of selling your home, click here to contact us for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (262) 797-6453 or (262) 798-1162 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I'll be updating you on what's happening in our Greater Milwaukee real estate market as we head into the summer of 2015. My goal is that you take this information and use it to your own advantage when you're buying or selling real estate.

Home sales have risen 13.5% over last year, and in Waukesha County, sales were up by nearly 20%.
Sales in Ozaukee County rose by 22%, and Washington County sales increased by 13%.
Average sales prices are also rising, and this is partly due to less foreclosure sales in our market
Homes have appreciated anywhere from 1-4%, depending on the neighborhood that you live in

Overall, now is a great time to be buying or selling in this market. Buyer demand is peaking, and affordability is also very high, so both buyer and sellers have incentives to get into this market. If you need assistance when you're buying or selling this year, please don't hesitate to contact me. I'd be more than happy to help you.

Why Should You Consider Selling Now?

There are many great Metro area homes for sale. Click here to perform full home search, or if you're thinking of selling your home, click here to contact us for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (262) 797-6453 or (262) 798-1162 for a FREE home buying or selling consultation to answer any of your real estate questions.

Hey everyone, thanks for joining us once again. Today we want to discuss a question we get a lot from clients: Why should I sell my house now vs. waiting for the spring or summer to make a move?

There are a lot of reasons you should consider selling now instead of in a few months. Today we are going to give you our top 5, so you can make a decision before your grass gets green and the spring is in full swing.

1. The transfer market is extremely active
This is the time of year that people who were offered jobs at the end of 2014 are looking for homes to move into, and they won't want to wait until summer to buy your home. They are in the market for a home right now, and are desperate to get a good home.

2. You can change the closing date
When you sell your home in the early months of the year, you can delay your closing date until the summer. By the time your home goes through the entire closing process, it will be late spring or early summer, so you won't be rushed to find a new home right away.

3. Homes are selling every day
In the last 60 days alone, over 1,300 single-family homes have sold in the Metro Area. The Roth Team has sold over 55 of those homes by ourselves.

4. Buyers have fewer options
Inventory is very low right now, and buyers are gobbling up the best homes almost as soon as they come on the market. Right now, there is a 25% deficit in inventory from where we usually are at, and the demand has only increased so far.

5. Interest rates will rise soon
Right now is the perfect time to take advantage of our low interest rates. Instead of waiting until later in the year and having to deal with 5-6% interest rates, you can secure an interest rate right now between 3% and 4%, saving you tens of thousands in interest over the life of your loan.

If you are thinking about making a move and have any questions, we are always here to answer them. Give us a call or send us an email, and we will get back to you soon! We can't wait to hear from you!

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Why Hire the Roth Team?

Given that you are considering a professional real estate agent to sell your home, I have three reasons why you should choose myself and the Roth Team to sell your home:

1. Results and experience. Over the last twelve months, we have closed over 190 transactions – compare this to the average real estate agent that sold less than four homes in the same period of time. More importantly, we are bringing our sellers an average of 96% or more of the asking price. This is all done on a timetable of 80 days that the home being on the market.

2. Experience and knowledge. I’ve been in the real estate business for over 30 years and have closed over 3,500 deals. There hasn’t been a problem we’ve come across that we can’t solve in today’s market – especially in the challenging market we have today. We will also determine the best price that you can receive in this market.

3. Communication. One of the biggest problems in this industry is the lack of communication between the seller and their agent. We have a dedicated team that will be available to you seven days a week. You can rest assured knowing that all of your questions will be answered and you will be updated through every step of the transaction. You also can expect Weekly Activity Reports that include how many hits your listing has gained from the internet, TV advertising, and feedback we’ve received from the buyers.

When you’re ready to sell your home, give the Roth Team a call or send us an email.

Mike Roth - The Roth Team
Shorewest Realtors
Office: 262.797.6453
Direct: 262.798.1162
rothteam@shorewest.com

What our happy Greater Milwaukee clients have to say

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Clayton - "The results were blindingly fast! I was amazed at how efficient the team worked together. I had no estimation of selling this property before winter and closing last week just took a huge load off my mind. I’m so delighted to have this process closed out! They really worked around my challenge of not having my brother be at the house during the showings and the important thing for me is that I felt comfortable. They understood my challenge and worked with me. I might have felt embarrassed about the situation, but I just wasn’t because of their professionalism."

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"I used the Roth Team for a two home sales and purchases. I would recommend them to any buyer or seller, they are so accommodating, trustworthy, and determined to get the best for you. The team takes time to listen, answer questions, and provide professional advice. Do not hesitate to use the Roth Team, they are amazing!"

- Mary Coubal

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"My wife and I found our dream home in Florida, but hadn't even thought about preparing our New Berlin home for sale. In one visit Mike Roth gave us the direction and resources we needed to get our home of 20 years "show-ready" and although it was January, Mike marketed the property to sell almost too quickly! We thank him and his very professional staff for making it happen!"

- Mike and Diane Mullihan

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