5 Reasons Why Now is the Time to Buy

Hey, guys! Thanks for visiting my real estate blog!

Everyone always wants to know when the best time is to buy a new home. They want the best deal at the best time. Well, I have a list of five reasons why NOW is the time to buy.

1.    Prices are increasing. Median prices in the greater Milwaukee have gone up in some areas as much as 10 percent and they are continuing to increase.

2.    Interest rates are still historically low. Although, rates have increased by about a point, they are still lower than we could hope for! When my wife and I bought our first house, we had an option of 18.5 percent fixed rate mortgage!

3.    It’s easier to get a mortgage. Banks and lenders are soliciting money for buyers to purchase a home. If you have a job, good credit score and a good down payment, you can buy a home!

4.    It’s still cheaper than renting. Renting has gone sky high. That means you would be paying the same amount to rent as to buy! And if you rent you don’t get all the tax benefits as a homeowner would!

5.    You aren’t competing with as many investors. When foreclosures and short sales were occurring more often, a lot of investors were involved in the market. Now, you don’t have as much of that competition.

These are five reasons you shouldn’t wait to buy a home! Please call me if you have any questions or if you are thinking about buying and selling!

Milwaukee Market Update August 2013

Milwaukee Market Update August 2013

Hey, everyone!

We’ve had a lot going on in our market lately. Throughout the summer you may have seen different articles in the Milwaukee Journal talking about activity in the real estate market.

In June an article titled, “Is the Buyer’s Market Ending?” was published. To answer that question, it is ending. At the time the article came out, sales were up 15 percent.

Another article came out in July talking about the increase of sale prices. Prices were up 12.3 percent from July of last year.

Then, in August, sales were up 18.7 percent and prices were up 9 percent. What does this mean?

We are seeing a shift from a buyer’s market to a seller’s market. Why is this? In 2011 we had a total inventory of around 11,380, that’s about a 10-month supply of homes. Now, though, inventory is at 8,840 with only about a 5-month supply. That’s half!

Because there are fewer homes available, it drives prices up. This is the perfect time to sell your home. The average days-on-market is only 69!

This is still a great time for buyers, though, too! Interest rates are historically low and while buyers won’t be able to negotiate as much with sellers, they can still get a fantastic price.

If you have any real estate questions or know someone who is ready to buy or sell, give me a call!

Home Inspections

Today, I wanted to talk about home inspections. Sellers ask me a lot about what to do when the inspector finds a defect in the home: should I fix it? Can I sell it as is?

The answer to that question lies between you and the buyer. Essentially, a home inspector has to report what they see; if what they see is a defect, they have to disclose it on the report.

Now, if it is truly a defect it has to be disclosed to not only that buyer, but any other buyer you sell your home too. So, in most instances in order to sell you will probably need to fix that defect; most buyers won’t assume that problem.

The other option besides you fixing it, is offering a credit to the buyer so they can fix it after closing. This is only an option if the buyer’s lender allows it.

What if you as a seller can’t afford to fix the defect? The Roth Team has contractors we work with; the repair would be done and we would take the money out of your closing proceeds.

Again if you have questions on inspections or anything else, feel free to give us a call. We’d love to help!

Thanks and have a great day!

Summerfest 2013

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I wanted to do something a little different than real estate for this video. As many of you may know, this week is the beginning of Summerfest, the largest music festival in the world. More than one million people turn out for the fun. All types of different music genres will be there, from the Eagles to Pitbull to Tim McGraw. If you don’t want to come for the music, come for the great food, beverages and sun. There’s something for everyone.

The festival starts Wednesday, June 26th and continues through Sunday, June 30th. There is then a day break on July 1st. The festivities start up again on Tuesday, July 2nd and end Sunday, July 7th. General admission is $15 and seniors (ages 60+) and children (ages 3-10) are just $5.

I wanted to bring to your attention the different promotions offered. Almost every day there is a different promotion. Below are just a few of the promotions, if you wish to see them all, please visit summerfest.com

Wednesday,June 26th: Johnson Controls Stomp Out Hunger Day with Fox 6
All patrons that arrive between noon and 3:00 p.m. who donate three non-perishable food items will receive one FREE admission ticket. Donations will benefit Hunger Task Force.

Saturday, June 29th: GoodWill Day (12:00-3:00p.m.)
The first 1,500 patrons who make a donation to a Goodwill Store & Donation Center between June 1- 29, 2013 and bring in their specially market original Summerfest donation receipt will receive one FREE admission ticket!

Sunday, June 30th: Kohl’s Family Day (12:00-3:00p.m.)
The first 2,500 patrons who donate three non-perishable food items for kids will receive one FREE admission ticket.

Thursday, July 4th: Summerfest Military Appreciation Day
All active-duty military personnel and veterans, along with up to four family members, who present their Military I.D. at any gate will be admitted FREE.

I hope you found this information helpful! Go enjoy some great music, food and fun!