Blog

activity (7)

The Right Way to Investigate Your New Neighborhood

Posted by Michael Collins, CDPE, SFR on April 1, 2014 at 3:36am

The Right Way to Investigate Your New Neighborhood

Investigating-Neighborhood-300x165.jpg?width=300

The house looks perfect and it has all the features you need.  The location is convenient for your needs and there really is nothing standing in the way of buying this particular property.  STOP.  Don’t buy the house until you do one thing; investigate your new potential neighbors.  Here are some tips for finding out the not so obvious facts.

Make Multiple Visits at Multiple Times

One of the best things you can do before buying the home is to visit the home are various times and various days.  The appearance of the neighborhood at 11:00 am on a Wednesday will likely be different from the appearance on a Thursday night.  Look for neighbors that are in the yard, on the street and how busy the roads are.  Are any of the neighbors engaged in any loud activities such as parties, electric tool use or other annoying sounds?  Take your time and make sure to visit the home on the weekend as well.

Chat Up Your Potential Neighbors

The people that will be your neighbors have the information you need.  However, it can be a challenge to get them to talk.  During your visits look for people out in the yard engaged in various activities.  Start a pleasant conversation and ask them about their opinion of the area and the neighborhood.  Ask a few open ended questions and give them a chance to talk.  Make sure to ask if there are any troublesome neighbors to look out for or any problems in the area such as sink-holes, poorly built homes or sewer issues.

Use the Internet

Various websites like Google and Bing offer maps and street views of nearly every known address.  Type in the address and look around.  It is likely that the pictures are at least a few months old if not a few years.  The home could look exactly like it does now or there could be some major changes.  Take time to look at the home you intend to buy as well as the adjoining properties.  You may discover something that raises a red flag and causes you to consider a different property.

Check Police Records

There are some websites and even smart phone apps that provide detailed police records for neighborhoods.  These sites will usually list things such as robberies, vehicle thefts, and violent crime. Some neighbors on one street may not be aware of crime that is frequently occurring one or two streets over.

See if anyone is Blogging

Sometimes there will be a blog or even a small community newspaper published for the area that you are considering.  If you can find the blog or recent paper take some time to review the information.  Local events, improvements in the neighborhoods and other items will likely give you enough detail to see if this is the right area for you.

Some of these steps may take a bit of time to complete and may seem awkward at first.  However, considering the large investment that comes with owning a home it really makes sense to spend some time researching your new neighborhood and ensure that it will be as nice as your new home.

Middleton, WI Homes for Sale
Waunakee, WI Homes for Sale
Beloit, WI Homes for Sale
Milton, WI Homes for Sale

Read more…

Increased Mortgage Activity in Wisconsin

Posted by Michael Collins, CDPE, SFR on February 24, 2012 at 5:55am

Low home loan ratesIncreased Mortgage Activity

Although the winter months have traditionally been a slow time in the real estate market, business has seen significant improvement across Wisconsin. While it may be premature to proclaim that the recession is ending, these signs do point to an improvement in the overall economy.

Starting Off 2012 with a Bang

Across the state the number of home purchases increased by 11 percent in January 2012 in comparison to the number of homes sold in January 2011. This is a continuation of the trend that began in October of 2011. Although the average home price is still down from the levels of 2006, the improved activity is a good sign.

Refinancing is Hot now

Along with improvements in home sales, refinancing has been quite popular lately. The record low interest rates have caused quite a few people to investigate refinancing their home. Recent reports show that as much as 80% of mortgage applications have been for refinancing.

Primary Key to Fuel Home Sales and Price Improvements

The majority of economists agree that it is too soon to determine if the surge in home sales will last. However, they all agree on one point. A steady, stable growth in the number of people able to return to full time work will drastically help the housing market.

Still a Buyer’s Market

The good news for buyers is the available inventory makes it possible for a buyer to review multiple homes and find the one that is best for their needs. The recent statistics show that the current inventory of homes for sale is quite large, but the numbers are moving down. Along with the incredibly low interest rate this marks a great time for new homebuyers to get in their first home as well as for current homeowners to consider selling for either a bigger property or a home in a better area.

Short Sales and Foreclosures add Properties to the Mix

While home prices have declined in recent years due to the struggling economy, some of the best deals can be found in the case of foreclosures and short sales. It is common for a short sale to be in a much better condition than a foreclosure. Most of these owners were living in the home right up until the time they sold the property and moved on. This means that a home that was part of a short sale has a good chance of being in move-in condition. For the do-it-yourself type of people, a foreclosure could be a way to get a home at a tremendous discount and have the option of adding paint, carpet, and fixtures to customize the home to their liking.

Original Post - Increased Mortgage Activity in Wisconsin

Read more…

Mortgage Bankers Association Weekly Update

Posted by Howard Bell on February 27, 2010 at 4:58pm

Mortgage Bankers Association for the week of 2/24/2010

Market Composite Index: (loan application volume) decreased 8.5 percent on a seasonally adjusted basis from one week earlier

Refinance Index: decreased 8.9 percent from the previous week. The seasonally adjusted Purchase Index decreased 7.3 percent from one week earlier, putting the index at its lowest level since May 1997.

Purchase Index: decreased 3.6 percent compared with the previous week and was 13.4 percent lower than the same week one year ago.

Refinance Share of Mortgage Activity: decreased to 68.1 percent of total applications from 69.3 percent the previous week.

Arm Share: increased to 4.7 percent from 4.4 percent of total applications from the previous week.

MBA outlook: (Excerpted from mbaa.org)

The economy is growing again. 4Q growth of 2009 exceeded expectations due to strong growth in business inventories. However inventory replacement is a short lived spurt, unless consumers buy. Weakness in the job market and a fragile recovery are likely to keep consumers from spending on big ticket items like houses and cars.

Existing home sales fell back in December and new home builders are not upbeat. The Fed remains unlikely to raise rates, however, they are going to end their MBS purchase program. This will certainly cause a rise in interest rates as the marketplace demands higher rates to compensate for risk.

Related Articles
REITs: The Other Big Lenders
Banks 2010: The Regulatory Angle
Banks in 2010: The Commercial Real Estate Angle
Read more…

Mortgage Bankers Association for the week of 1/6/2010

Posted by Howard Bell on January 15, 2010 at 4:21pm
Market Composite Index: (loan application volume) increased 14.3 percent on a seasonally adjusted basis from one week earlierRefinance Index: increased 21.8 percent from last week’s holiday adjusted index and increased 73.9 percent from last week’s unadjusted indexPurchase Index: increased 0.8 percent from one week earlier.Refinance Share of Mortgage Activity: increased to 71.5 percent of total applications from 68.2 percent the previous week unchanged at 4.0 percent of total applications from the previous week.Arm Share:: unchanged at 4.0 percent of total applications from the previous week.MBA outlook: (Excerpted from mbaa.org)The December jobs report was indicates a slow recovery. 85,000 jobs lost and an unemployment holding at 10 percent.Bloated inventories of unsold homes, buoyed by continued inflows of foreclosed properties, will keep a lid on home prices for some time. We do not expect more typical rates of home price appreciation until 2012. The Federal Reserve is unlikely to raise rates in 2010, but they will meet their commitment to purchase $1.25 trillion in agency MBS by the end of the first quarter.The MBAA anticipates that mortgage rates will rise by about a percentage point through the year, to end at 6.1 percent. Eye-popping federal budget deficits and positive economic growth will put upward pressure on Treasuries. Yields on mortgage securities will need to increase to get private investors back into the market once the Fed stops its purchases.Thanks for Readingwww.yourpropertypath.comRelated ArticlesThe Coming Mortgage Debt Reduction Programs FHA and Fannie Mae Propose Rule ChangeCitigroup Suggests Mortgage Debt Forgiveness
Read more…

Mortgage Bankers Association: Weekly Mortgage Survey

Posted by Howard Bell on January 9, 2010 at 4:30pm
Market Composite Index: (loan application volume) decreased 22.8 percent on a seasonally adjusted basis from the prior week.Refinance Index: decreased 30.5 percent from the previous week and the seasonally adjusted Purchase Index decreased 4.0 percent from one week earlier. The following week, the Refinance Index decreased 1.6 percent and the seasonally adjusted Purchase Index increased 3.6 percent.Purchase Index: decreased 33.1 percent the week of Christmas and increased 5.0 percent the week following. This measure was 26.2 percent and 28.2 percent lower, respectively, than the same period a year ago.Refinance Share of Mortgage Activity: mortgage activity for the week ending January 1, 2010 is 68.2 percent, a decrease from 69.6 percent for the week ending December 25, 2009.MBA outlook: (Excerpted from mbaa.org)In summary the MBAA sees another year of high employment, rising home sales and prices beginning to stabilize. But continued weakness in the job market and excess supply and shadow inventory will slow any recovery in the housing market.The MBAA sees unemployment rate at about 10% at the end of 2010, and core inflation rates of below 2%. Fed rate is expected to remain at its current level throughout 2010.But, property values will not recover until unsold inventory returns to normal levels. Affordability is at record levels, yet there is no strong indication that the demand recovering. People do not yet seem to trust the recovery and many do not have the necessary down payment or can clear tighter loan qualificationsThe MBAA site economic report indicates a fragile recovery, but makes note that without credit the recovery remains tepid at best. The site makes note: Smaller businesses and consumers are heavily dependent on banks for obtaining credit, and there is little evidence that, as yet, banks have loosened the purse strings.Bank loans to businesses and consumers are still falling with few signs of stopping or slowing down. Part of the decline is declining demand, but the fall is too large to be explained by weakness in demand alone. The banks are simply not yet stepping up to fill the vacuum.Thanks for Readingwww.yourpropertypath.comRelated ArticlesFHA and Fannie Mae Propose Rule ChangeFHA Losses: What it MeansFHA Has New Rules
Read more…

Mortgage Bankers Weekly Update: Loan Apps Decline

Posted by Howard Bell on December 24, 2009 at 10:24am
Mortgage Bankers Association for the week of 12/23/2009Market Composite Index: (loan application volume) decreased 10.7 percent on a seasonally adjusted basis from one week earlierRefinance Index: decreased 10.1 percent from the previous week and the seasonally adjusted Purchase Index decreased 11.6 percent from one week earlier.Purchase Index: decreased 13.4 percent compared with the previous week and was 32.7 percent lower than the same week one year agoRefinance Share of Mortgage Activity: increased to 75.9 percent of total applications from 75.2 percent the previous week.ARM Refinance Activity: decreased to 3.8 percent from 4.1 percent of total applications the previous week.MBA outlook: (Excerpted from mbaa.org)In summary the MBAA sees another year of high employment, rising home sales and prices beginning to stabilize. But continued weakness in the job market and excess supply and shadow inventory will slow any recovery in the housing market.The MBAA sees unemployment rate at about 10% at the end of 2010, and core inflation rates of below 2%. Fed rate is expected to remain at its current level throughout 2010.But, property values will not recover until unsold inventory returns to normal levels. Affordability is at record levels, yet there is no strong indication that the demand recovering. People do not yet seem to trust the recovery and many do not have the necessary down payment or can clear tighter loan qualificationsThe MBAA site economic report indicates a fragile recovery, but makes note that without credit the recovery remains tepid at best. The site makes note: Smaller businesses and consumers are heavily dependent on banks for obtaining credit, and there is little evidence that, as yet, banks have loosened the purse strings.Bank loans to businesses and consumers are still falling with few signs of stopping or slowing down. Part of the decline is declining demand, but the fall is too large to be explained by weakness in demand alone. The banks are simply not yet stepping up to fill the vacuum.Thanks for Readingwww.yourpropertypath.comRelated ArticlesFreddie Mac Weekly Mortgage Update: Still Below 5 PercentARM's - How Do They Work?The Coming Mortgage Debt Reduction Programs
Read more…

Myrtle Beach Oceanfront Increased Sales Activity - Ten Fold Almost Overnight!!!

Posted by MIRELA MONTE on February 4, 2009 at 2:04pm

xslide1.gif xslide2.gif xslide42.gif

In 2005 I told all my Investors to stop buying Oceanfront. I've always been able to see patterns in numbers. I didn't like what I saw, so I blew the whistle. I moved my investors on to other products like single family homes in the path of growth. We did well. The Clients who listened and sold, fared quite nicely. The ones who didn't, now wish they had...I am now blowing another whistle: the BUY whistle. With prices at an all time low and inventory still ample, now is the time to start delving in. There are lots of things to consider and a careful analysis is mandatory. If you perform your due diligence and work with a top notch Oceanfront Buyer's Agent, you should do extremely well.God does not create any more Beach... Today we just had another 260 foreclosure properties being auctioned off at the Courthouse. Those properties will soon be available as Bank Owned super deals... The interest rates are still at an all time low... The gloom and doom is depressing most consumers and clipping the wings off the novice Investors... To make money you always move against the grain...I just pulled numbers on Oceanfront Condos in North Myrtle Beach. What I found made my hair stand up: 24% of the North Myrtle Beach Oceanfront condos are now "Pending Sale". 24%!!! Twenty-Four Percent!!! Compare that with the typical 2.5% activity per month and you start seeing what I'm seeing: 10 times the activity almost overnight! That's BIG! That's REALLY BIG!!!You heard it here first!(Why are you still here? Get on the phone with your Mortgage Broker!)Mirela Monte, Your Myrtle Beach Oceanfront Guru Proud Optimist!
Read more…
Liberty House Realty | Online Montessori Preschool | Digital Marketing Agency