How Much is a relisted Home Worth?

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.

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.