estate (254)

Welcome-to-Wisconsin.jpg?width=300The Wisconsin housing statistics are in for July of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin home sales and prices both grew in July, outpacing the solid rate established for the first half of 2013. Sales of existing homes for July increased 17.3 percent over July of 2012, which is stronger than the 11.4 percent rate of growth established in the first six months of this year over the first half of last year. Home prices also continued their strong rate of appreciation, increasing 9.0 percent in July over last July, to a statewide median of $155,299. Prices for the first six months of the year were up 7.7 percent.

It’s clear that 2013 is shaping up to be a very strong year for Wisconsin housing and the indications are that these trends will continue,” said Renny Diedrich, chairman of the WRA board of directors. "We’re at the peak of the Wisconsin home selling season, with nearly 43 percent of all sales taking place between May and August in a typical year,” Diedrich said.

This is very strong median price appreciation and it’s consistent with national trends,” said WRA President and CEO Michael Theo. Theo said statistics from the National Association of REALTORS® show that the median sales price of single-family homes nationally increased 12.2 percent in the second quarter compared to the second quarter of 2012, which represents the strongest year-over-year increase since the fourth quarter of 2005.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. This summer has been really hot for the properties that are priced right! There's been a large increase in sale prices, as you can see below.

I'd be happy to show you any homes currently listed for sale. Feel free to visit: WISCONSIN HOMES FOR SALE to search for current properties listed on the MLS.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

Housing Statistics for the State of Wisconsin:

July 2013
Home Sales: 7,320
Median Home Price: $155,000

July 2012
Home Sales: 6,196
Median Home Price: $142,250

Housing Statistics for Dane County, WI:

July 2013
Home Sales: 940
Median Home Price: $214,950

July 2012
Home Sales: 731
Median Home Price: $195,000

Housing Statistics for Rock County, WI:

July 2013
Home Sales: 172
Median Home Price: $108,000

July 2012
Home Sales: 165
Median Home Price: $107,500

View my report from last month. Wisconsin June 2013 Housing Statistics

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It's not dead, it's gone in to hiding so the industry can recover from the onslaught of politicians with nothing else better to do but "save" everyone and, in doing so, cripple an entire industry. Not to mention them going against one thing that is supposed to happen with a capitalism economy; right alongside success is also failure. Companies fail and get rebuilt. People fail and homes, cars, boats, etc. get repossessed by the banks. It's the capitalistic circle of life!  Industries are built on this circle. From mortgage brokers to real estate agents. The irony is that many of their saving programs failed and we will be right back where we were. In the meantime, how many in our industry will now fall? The current administration only saved a few but in doing so they caused a quite a few more to fall. How is that progress? How is that change? To make it worse, those that were saved only failed later. Don’t get me wrong, I am not saying there weren’t some serious issues in the foreclosure world. There was fraud, invalid foreclosures, and a few other problems. The government, with the National Mortgage Settlement, made those at fault pay to the tune over $51 billion. However, that still doesn’t change the fact that foreclosures will not die so long as we have capitalism. Banks will still lend, and, for many various reasons, people will still default, and the banks will repossess. We won't have what we did 5 yrs. ago but there will be plenty to go around and if another bubble bursts I bet that there will much less of a noticeable celebration in the industry that makes money from it......after all, we wouldn't want to give the politicians another opportunity to grandstand at the expense of the real estate industry.

Now, speaking of politicians interfering. One of the first things done when the current administration took office was a moratorium on foreclosure activity. All banks that had foreclosures were ordered to stop processing them. Next come the reviews, audits, fines, etc.. (all of which were dealt with as mentioned above and the National Mortgage Settlement) and here we are a few years later and they are now finally getting back to where they can proceed with business, which does mean finally processing those properties in default. Interestingly enough those orders did not include Fannie and Freddie with whom the government has a significant vested interest. What’s the point you ask? Well, have you seen Fannie’s profits for the 2nd quarter? $10.2 BILLION! Yes, that’s billion with a B. So, in essence, the government shut down all of their competition and reaped the rewards. How would you like to shut down every real estate agent in your market area and take every listing out there for nearly 4 years? Pretty slick if you ask me.

I have a webinar to teach in an hour so I better end the rant. I will close by saying what I started with, that REO’s are not dead, but merely in hiding. Banks want to keep a low profile on their foreclosures activity so they won’t have politicians interfering again. Wouldn’t you if you had to pay $51 Billion the last time they interfered? In addition, if you don’t really believe me then understand I have been doing this for 10 years and I know patterns when I see them. Keep an eye on all of the reports and you will see some that state foreclosures are down while others state they are up. Why the confusion? Well…..good question…why? 

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What an REO Virtual Assistant Does!

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One of the most challenging tasks in real estate is REO's. Bank-owned homes or “real estate owned” properties are often due to foreclosures while some have been foreclosed for quite some time. One needs to be a tough salesman to be able to market REO’s successfully. REO agents are definitely more complicated and harried than “normal” real estate agents. More often than not they would need the help of an experienced virtual assistant knowledgeable on how to work with REO properties. To give you a clear understanding on the significance of REO VA's, here are the top 3 services that REO VA’s normally offer to real estate firms or private realtors.

Web-based Development
One important function of REO VA’s nowadays is the proper use of web-based resources to market the number of properties due for foreclosure from a bank or a mortgage lender. Unless your agency or your private company simply relies on reposting or individualized transactions, the need to have a formal website to showcase REO properties must be carefully designed. Today’s online audience seeking a good deal for their money no longer just rely on an enticing page alone and this is where knowledge on web-based development comes in handy from a virtual assistant. For an REO VA to be called reliable and timely, they must be equipped with the necessary skills to come up with an attractive website complete with logo, enticing layout and quality content to deliver more information to prospective property buyers.

Online Listings Management

Finding REO properties now can be quite easy with a virtual assistant that has experience acquiring listings from banks and mortgage investors. Though finding the listings can be quite a breeze, listing your discovery for resale later on can be quite tricky. This is even more so when most sales battles today are done online. You need to connect to reliable and dedicated REO listing websites to help increase awareness of potential property buyers in your area. You can also connect with trustworthy online realtor bigwigs to partner with you in marketing your REOs. When done accordingly, closing on REO property sales or rentals can be realized.
Managing Transactions
A good VA, whether for REO or otherwise, must always be reliable enough to manage transactions on behalf of the realtor albeit with close coordination from your company or from you. They should come equipped with necessary information on appropriate property preservation, valuation, and sales and marketing. Some VAs can coordinate with local contractors on your behalf to handle tasks like updates on security and alarm systems, interior design improvement, plumbing issues, and so on. Experienced REO VA’s are also skilled in transacting with banks, mortgage lenders, appraisers, and so on. Today, the “Automated Value Model” or AVMs are continually being used by a licensed real estate professional or company.
Proper Monitoring
Perhaps, one challenging task comes in monitoring REO properties. Virtual Assistants for real estate owned companies are often tasked to provide the realtor they are working for with monthly status reports of a property. They also help review offers and bargaining pleas as well as managing database updates. Monitoring impact of a website is also taken into mind to ensure getting your real estate sales pitch across.

Indeed, managing REOs can be quite a challenge. You are not only dealing with foreclosed properties but might also be dealing with a property that requires maximum attention. With the number of REOs on your plate, you simply cannot do it alone and this is where a reliable virtual assistant comes in handy.

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Today’s real estate market is continually meandering towards recovery amidst a slower-than-normal pace and an ongoing world economic distress. With almost six years of excruciating struggle, this sounds like a good deal for buyers-and-sellers, and realtors in the market. But what are the current emerging trends in the real estate market nowadays?  To give you a closer perspective, here are some top trends most investors, realtors and independent home buyers and sellers have observed.
Low Mortgage Rates
As the economy slowly perks up, it is understandable for the fixed 30-year mortgage rate to nosedive. This could mean an impending increase anytime soon. But contrary to previous prediction, this will not skyrocket abruptly. The Federal Reserve is wise enough to keep it low for at least the whole year to help hasten recovery in the housing market. As it scale back its stimulus program, expect rates to gradually rise but, as a rule, never at an abrupt pace. For buyers, this could mean that now is a great time to buy your dream home.
Dynamic Bidding Wars
With the purported recovery, bidding wars have become even more dynamic and forceful in various places like Southern California, Seattle, Boston, New York and Washington. This has, however, shown a decline in other states like Pennsylvania, Maryland and Baltimore. But with the ever fluctuating norm of the real estate market and the economy as a whole, dynamism of bidding wars has great rely on present locale situation.
Flexible Tenure and Adaptability
Before the economic upheavals, buyers are expected to stay in their purchased homes for a certain amount of time. Current trend, however, has shown that almost half of home buyers do not have clear expectations on their tenure in a particular property. As economy continually shifts, so does the mentality of a home buyer. With this, sellers must ensure to market their homes according to what a buyer needs taking into consideration a buyer’s future needs. You might want to promote flexible space characteristics like a convertible garage or basement.
Increase Demand from Married Couples
The current driving force in home buying lies on the hands of married couples who are not necessarily first-time buyers. This could be affected by the sudden shift in the economy and employment market. For sellers, staging a property that appeals to couples will definitely increase its appeal.
A Steady Influx of Renters
Unlike couples, the growing number of yuppies escaping their parent’s overcrowded basements and extended garage pave the way for the rise of demand on rental properties. As young people start moving back into the employment market brought by an improving economy, moving out of the family homes has become a norm steadily giving rise to a lucrative rental business. For sellers who are uncertain on their decision, renting out their property can be a good opportunity.
Rise of City High Rise Living
Whether the real estate market dip low or jumps up, the demand for high rise living like condominiums continually climbs at a steady pace as cities are becoming more compacted. The problem in space and more employment pouring in to these niche locations pave the way for accelerating demands and prices in condominiums. For sellers this could be a great time to invest as it can both capture both renter and buyer markets.
Consistent Rise of Digital Marketing
Of course, reliance on online trend persistently continues as the top search engine for both buyers and sellers. Digital data has become the most important resources of information. This also posed a good opportunity for realtors and private sellers as online marketing is much cheaper and wider in scope.
Let these real estate marketing trends give you a heads-up on where to put your investment. Finding which markets or sectors offer the best incentive to your hard-earned money can be quite challenging. With steadfast expectation and a competent realtor handy, home buyers and sellers can productively manage sudden shift on these trends to their advantage.
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Amidst the recovering real estate market, it can be observed that the usual word-of-mouth tactics employed by private homeowners is not helping. If it does, this usually leads to a decrease on your price tag. If you want to sell your home in a fast and efficient manner with the price you desire, listing it with a competent realtor will definitely do you good. These people are seasoned professionals when it comes to selling houses. They do more than just show properties or negotiate offers to help close a sale. Below are some things that these realtors do to make your house more sellable.

Help Improve Your Home’s Stature 


Competent realtors do not just list your house, match it with a potential home buyer and be done with it. Often, these people ensure that your home is ready for that open house event or for buyer viewing by making use of their connections in the field of home improvements. They can assist you in improving the curb appeal of your home by contacting their contacts in plumbing, roofing, fencing, painting, landscaping and so on. Keep in mind that buyers are mostly concerned of a home’s interior and exterior appearance. A fresh coat of paint, a clean roof and exterior walls, updated plumbing system, and so on will help augment the appeal and face value of your home. With their connections, they can help find you general contractors which can perform all the needed improvements at a much affordable rate to suit your budget.


Experts in Pricing Your Home Right


An important aspect in selling a home is in pricing it right. Realtors are experts in estimating the value of a certain property with their experience and skill-set. They are proficient and up-to-date with important considerations like target market, location, demand and supply, and the type of house. They are trained and experienced in property evaluation to demand appropriate pricing to ensure that your home gets every bit that it deserves.
 
They Help Sweeten the Deal


Another way to make home-selling more attractive to buyers is by offering perks. Credible realtors know precisely how to play around the selling price or add-in any other special deals that will help make the buyer realize the added advantage on this particular investment. Some realtors are also connected with service contractors and home insurance agents. They can use those connections to offer an extra mile in their services as leverage in letting the buyer perceive the deal as an “added value” service. Some also offer transferable home warranty (with the consent of the homeowner) for at least a year. This helps cover maintenance and warranty on appliances and other home fixtures—and this helps sweeten the whole deal. 


Help Gain Home Buyers Trust


Do take note that 90% of all real estate transactions occur with the assistance of realtors. This could be due to the reason that these professionals have an ethical obligation to disclose hidden or latent shortcomings or defects in a home. Buyers want an honest-to-goodness deal and you as a seller might be perceived being biased when asked for details on your home.


The Bottom Line


Selling a home can take extra work and knowledge. You may put all your efforts in getting your home in excellent shape but when you have no knowledge on marketing it or knowledge on the present condition of the real estate market, you will most likely find yourself empty-handed. With competent realtors, you can effectively increase the odds of getting your home sold on the market.

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Welcome-to-Wisconsin.jpg?width=300The Wisconsin housing statistics are in for June of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin home sales rose an impressive 11.4 percent in the first six months of 2013 compared to last year, according to recent statistics compiled by the Wisconsin REALTORS® Association (WRA). In June alone, Wisconsin home sales were up 3.1 percent relative to last June, posting the 24th straight month of positive sales growth in the state. Median prices also continued to increase year-to-date, rising 7.7 percent to $140,000 compared to the first half of 2012. In June, prices were up 12.3 percent to $159,500 compared to June 2012.

The pace of sales in the first half of this year is well ahead of last year,” said Renny Diedrich, chairman of the WRA board of directors. "which is especially noteworthy since 2012 was an exceptional post-recession year for housing sales.” Diedrich said.

Adding to the good news was a significant drop in foreclosures during the first half of 2013. Unique foreclosures in the state are down 37.2 in the first half of 2013 compared to that same period in 2012, and down 44.5 in the second quarter this year compared to quarter two of 2012. “All in all, this paints a very healthy picture of the Wisconsin residential home market at the midyear point,” Diedrich said.

We’ve seen very strong growth in housing prices since they started improving 16 months ago,” said WRA President and CEO Michael Theo. And while higher prices impact housing affordability, homes in Wisconsin remain a good value.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. This summer has been really hot for the properties that are priced right! There's been a large increase in sale prices, as you can see below.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

Housing Statistics for the State of Wisconsin:

June 2013
Home Sales: 7,265
Median Home Price: $159,000

June 2012
Home Sales: 7,012
Median Home Price: $142,000

Housing Statistics for Dane County, WI:

June 2013
Home Sales: 963
Median Home Price: $222,500

June 2012
Home Sales: 852
Median Home Price: $207,500

Housing Statistics for Rock County, WI:

June 2013
Home Sales: 181
Median Home Price: $120,000

June 2012
Home Sales: 202
Median Home Price: $110,000

View my report from last month. Wisconsin May 2013 Housing Statistics

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Busy business owners, executives and professionals sometimes have a hard time coping with their workload and get overwhelmed by all the tasks. There are times that they feel swamped and because of that feeling of helplessness, nothing gets done in the process. If this is the kind of feeling or atmosphere that you have, it might be time to hire an assistant or a virtual assistant to ease up on your busy schedule and for you to be more productive.

Now, finding the perfect assistant might seem easy at first glance seeing that there is an increase of virtual assistants in the web but it really is not as easy as you think. You will need to find one that fits your criteria and requirements and your budget as well.

Here are some helpful tips on how you can find the perfect VA for yourself or for your business:

1)    Figure out your budget and how many hours of work you need. It is very important to figure out how many hours of work done per week you need for a VA and how much you are prepared to pay. This ensures that you don’t go over budget and your VA can work on the amount you provide.

2)    Check what type of work you need done. You need to figure out what kind of work you need from the VA so that you can explain to your VA what tasks you want and therefore prevent wasting the VA’s time or yours for that matter.

3)    Gather as many candidates for VA as you can. Receive as many applications as you can and prepare a shortlist for your interview based on the VA’s qualifications and experience. Spend adequate time in recruitment for your VA since you want someone who can work with you well, so invest the time. Be sure that even if you have chosen the successful applicant that you also keep in mind 1 or 2 next to that applicant if in case the successful one does not work out well.

4)    Make sure that you and your VA agree on a trial period for work. Having a trial period ensures that you are really sure of the fit of the VA and your needs. Also this is sort of an adjustment period for the VA and you and will show or somehow predict the kind of work relationship you both will have.

5)    Agree on scope of work and specific terms of the VA’s contract. Agreeing on specific terms of employment and the scope of work will ensure that all needs are met and expectations are covered both on your side and the VA’s as well. This bodes well for everyone concerned and prevents miscommunication and disagreements for a better working relationship.

Sometimes finding the perfect VA is easy and sometimes it is not. The tips above are designed to be helpful in guiding you to meeting the VA that can satisfy your needs, if not exceed them. Sometimes also it could be a trial and error method. Different approaches work as well.

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Rock Realty Client Testimonials

"Mike & Matt,

Thank you so much for helping us find our dream home! We love it! Thank you for the many hours spent in research, travel, phone calls, and emails. Thank you for being open & honest with us every step of the way! We felt we could trust you 100%. We really enjoyed working with you and highly recommend you to others.

Thanks!"

Kevin & Abby G. (Madison, WI)
Rock Realty Home Buyer Client

Rock Realty Client Testimonials

Thanks for the compliments, and Congratulations on your new home Kevin & Abby!

Looking to purchase a home in Wisconsin?? Contact Rock Realty! We would love to help!!

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Welcome-to-Wisconsin.jpg?width=300The Wisconsin housing statistics are in for May of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Strong home sales in Wisconsin for May helped boost prices up, according to the most recent statistical report released by the Wisconsin REALTORS® Association (WRA). The sale of existing homes in May increased 18.2 percent over last May, now the 23rd straight month of positive sales growth in Wisconsin, which helped push the median price up 4.3 percent to a statewide median of $144,000.

These are very positive signals and represent an uptick from the pace of sales established in the first four months of the year,” said Renny Diedrich, chairman of the WRA board of directors. Existing home sales rose 10.3 percent from January through April this year compared to that same four-month period in 2012. “There’s no doubt consumer demand has been strong over the last couple of years, but now we’re also seeing sellers jump back in the market as well,” Diedrich said.

Prices showed solid but sustainable growth,” said Michael Theo, WRA President and CEO. "We saw some large increases in median prices in March and April, so it’s good to see more modest increases in May."

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past few years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. This spring has been really hot for the properties that are priced right! There's been a large increase in the number of home sold, as you can see below.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

Housing Statistics for the State of Wisconsin:

May 2013
Home Sales: 7,403
Median Home Price: $144,000

May 2012
Home Sales: 6,181
Median Home Price: $138,000

Housing Statistics for Dane County, WI:

May 2013
Home Sales: 925
Median Home Price: $207,000

May 2012
Home Sales: 623
Median Home Price: $211,000

Housing Statistics for Rock County, WI:

May 2013
Home Sales: 205
Median Home Price: $114,000

May 2012
Home Sales: 173
Median Home Price: $100,000

View my report from last month. Wisconsin April 2013 Housing Statistics

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Rock Realty Client Testimonials

"I found Rock Realty on the internet while looking for someone to help us sell our house .. I called and talked to Mike, we set up an appt and he got the ball rolling... and wow did he get the ball rolling..he stepped up in every aspect.. the house was all over the net and we had people looking at the house right away .. he was right there every time we had questions and made us feel as if we were his only client.. he worked thru any difficulties we had without any negativities...our house sold Very quickly and Mike really stepped up through the whole process... Our thanks to Mike and Rock Realty"

Scott H. (Janesville, WI)
Rock Realty Seller Client

Rock Realty Client Testimonials

Thanks for the compliments, and Congratulations on your closing Scott!

Looking to sell your home at a great price!? Check out what Rock Realty can do for you!

Rock Realty Online Marketing Plan

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How to invest in real estate using an Individual Retirement Account, IRA (Part 3 of 4)
Traditional retirement accounts, like a 401(k) or an IRA, can be powerful when the economy is strong and businesses are experiencing growth. This is due to the stocks and bonds that are typically bought and sold through these typical investment strategies. However, what happens when the economy is not so strong and stocks are struggling? This is when a self-directed IRA can come into play.
More Flexibility
photo credit: Neil Kremer via photopin cc
photo credit: Neil Kremer via photopin cc
A self-directed IRA gives individuals a chance to buy other assets such as gold and even real estate. These accounts charge an annual fee that can reach up to $300 per year. The ability to buy and sell real estate has led to the growth in popularity of these accounts in the past few years.
The real estate decline from the last several years has led to many homes being rented out instead of selling at top prices as the owners had hoped. This is a great environment for investors to come in and make a fair offer on a property and add the home to their portfolio.
Ignorance of Tax Law Can Be Costly
This is not to say that a self-directed IRA is just a large checking account to be used to buy assets. The complexity of these accounts makes any financial mistake quite costly in the form of penalties assessed by the IRS.
A person cannot receive any type of benefit from the account prior to age 59 ½. This sounds vague, and it actually covers quite a bit of territory.
For instance, the owner of the self-directed IRA cannot live in a property owned by the account nor can they receive rent payments from the property. If the rental property is in need of a repair or property tax payment that money must come from the IRA.
Self-directed IRA’s also prevent the use of a mortgage to purchase a home.
Cash is King
Because of these restrictions most transactions that occur through a self-directed IRA are handled with cash. The majority of individuals will have a small number of properties in their portfolio. It is quite common for people to purchase either a duplex or a four-plex in order to maximize the rent payments coming to the account.
This is advantageous in two ways. First, a cash deal makes the whole process much quicker. There is no waiting on a mortgage approval from a lender. The person buying the home can choose the appraiser and title company and make their own decision based on the information provided. Secondly, buyers are in a very strong position when they can offer all-cash payment, right now, to an interested seller. Many sellers are willing to offer a discount for the promise of cash.
This is Part 3 of a 4 Part Series.
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A Realtor® can help you invest in an IRA (Part 1 of 4)
Using a self-directed IRA can be a great way to start your journey to owning real estate as an investment. However, being familiar with the rules and regulations associated with these accounts will prevent you from making expensive mistakes. Here are some helpful tips from Realtors® that you should consider before you start investing in real estate with an IRA account.
photo credit: 401(K) 2013 via photopin cc
photo credit: 401(K) 2013 via photopin cc
* Loans can be hard to find – A loan used in an IRA are required by the IRS to be a non-recourse loan. Basically, the owner of the IRA cannot sign as guarantor on the loan. This will require a minimum of a 40% down payment to acquire the property and possibly 50%.
* Do not put a good-faith deposit on a home with your personal check – In the eyes of the law an IRA account and its owner are considered two separate entities. Writing a deposit check from a personal account to secure a home and then transferring the home to the IRA is a no-no. It is best to set up the IRA account first and use that account for the real estate transactions.
* Choose the right Self-Directed IRA account – Various financial firms offer custodian service for their self-directed accounts. However, it may not be necessary for you to have a custodian. It is important to research the firms and decide which one offers the best account for your needs.
* In the event of a loan, credit does not matter – One of the best things about these accounts is the lack of credit scrutiny. If you need to finance a home purchase with the IRA account the lender will mostly be concerned with the condition and location of the home. This means your existing credit will not play a part in the loan.
* Custodian signs loan papers, not you – This is the main sticking point in IRA real estate transactions. Since an IRA is set up to benefit a person, the person cannot sign real estate transactions. The custodian will need to handle the signatures.
Working with a Realtor®
When you partner with a Realtor® to help guide you through the process of buying a home through your IRA account, there are several benefits that the agent brings to the table.
* Investment advice – Your agent can obviously help you find a home to be used as a rental property. But the agent can do much more. Based on current rent information you can see what type of return you should expect on the property and see if it meets your long term goals. You can also compare rent levels across multiple areas to see which places have the best return.
* Diversity of portfolio – Stock managers routinely advise their clients to spread their money around multiple accounts. This prevents major losses from having too much tied up in one stock or bond. A real estate agent can help you spread your investment across multiple types of properties to help you maximize your growth and minimize the loss.
Using a Realtor® that understands the intricacies of a self-directed IRA and one that has experience with investment properties can make a big difference in how your portfolio performs over the long term. This is Part 1 of a 4 Part Series.
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We would like to introduce you to our home buyer specialist, Bethany Alexander, Realtor® serving the Oregon, Wisconsin area!

Dane County WI Real Estate
"I am excited to be a part of the Rock Realty team to help expand their services throughout Dane County. I am originally from Corpus Christi, Texas, but have lived in Oregon Wisconsin for the past 20+ years. As a long-time resident of Oregon and an Oregon High School graduate I have an in depth understanding of the area which will assist me in helping you to select a home location that best suites your family’s needs."
"As a Rock Realty real estate agent, I use the latest tools available to help advertise, broadening the range of qualified buyers for your property. It is my top priority to educate and help guide you through the exciting and sometimes stressful process of buying or selling a home. I truly care about my clients and their needs and will work hard for you to ensure that your experience with buying or selling a home is as simple and stress free as possible. If you are looking for a Realtor® to put your individual needs first, look no further, call me today to discuss what I can do to help you with your real estate needs."
If you are looking to buy or sell anywhere in Dane County, I'd love to help!
Bethany Alexander
Real Estate Agent/Realtor®
608-212-4101 (cell)
Bethany@RockRealtyWI.com
Search the MLS via my site:
www.SweetHomeWI.com

 

 
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Short Sale Real Estate Agents in Fitchburg, WI 53711



Fitchburg, WI Short Sale Real Estate AgentsAre you looking for a Fitchburg Wisconsin Short Sale Realtor®or real estate agent? Rock Realty is a real estate brokerage that specializes in Short Sales and Bank Owned Foreclosures in the Fitchburg WI area.

 

My name is Michael Collins, broker for Rock Realty. I have completed the Short Sales and Foreclosure Resource training and have been given the SFR designation through the National Association of Realtors®. Feel free to contact me directly at 608-921-8536 for help with any of your short sale questions. I have helped many Fitchburg home owners with their distressed property needs.


REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities. The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk.

A Certified Distressed Property Expert® (CDPE) is a real estate professional with specific understanding of the complex issues confronting the real estate industry. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today's market.

What is a Short Sale?
A short sale occurs when a lender agrees to take less than the amount owed to payoff a loan as an alternative to foreclosure. Lenders know that it will cost them a significant amount of money to take a property back. The Realtors® at Rock Realty can often convince them that they will be better off financially if they sell the property now rather than taking the home through foreclosure and trying to sell it later. So, a short sale can actually be good for the bank. It can also be good for the home owner, as it is typically better to perform a short sale on their Fitchburg property instead of letting it proceed to foreclosure.

If you are considering the possibility of a short sale for your Fitchburg Wisconsin home and have further questions, feel free to visit the short sale information page below.

Is a Short Sale right for My Home?

Additional Short Sale Information

Rock Realty SOLD Short Sale Listings
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Counties of WI

The Wisconsin housing statistics are in for March of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:
March marked the 20th straight month of double-digit growth in sales of existing homes in Wisconsin, with sales up 11.7 percent compared to March 2012. Median home prices also grew to $122,000 in March, which represents a solid 6.1 percent rate of growth compared to March last year.
This is the highest sales volume we’ve seen in March since 2007, before the Great Recession began,”  said Renny Diedrich, chairman of the WRA board of directors. Noting that sales moderated somewhat from the double-digit growth rates of the past year and a half. “It’s inevitable that the torrid pace of sales will moderate since the base we’re comparing to is a much improved market. Our markets remain strong and growing.
“Very low mortgage rates have certainly stimulated sales activity, and this combined with a decline in new listings has brought our unsold inventory levels down to just nine months of supply,” said WRA President and CEO, Michael Theo.  Inventory levels are down from 12.1 months a year ago, and from approximately 18 months of unsold homes in July 2011.
Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales & prices have been increasing over the past couple of years. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. Dane County really showed an improvement in both home sales numbers and median home price this month over last year.
If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.
Housing Statistics for the State of Wisconsin:
March 2013
Home Sales: 4,910
Median Home Price: $123,000
March 2012
Home Sales: 5,102
Median Home Price: $134,900
Housing Statistics for Dane County, WI:
March 2013
Home Sales: 466
Median Home Price: $186,500
March 2012
Home Sales: 533
Median Home Price: $193,900
Housing Statistics for Rock County, WI:
March 2013
Home Sales: 155
Median Home Price: $86,000
March 2012
Home Sales: 132
Median Home Price: $103,500
View my report from last month. Wisconsin February 2013 Housing Statistics
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There is a new trend in the horizons of real estate management that has been blooming in the past years. It’s called virtual assistance. The name “virtual” alone means that a Realtor will have someone working for his or her office through the internet. Virtual assistants, who are not in the office and will work as part of the team to assist with every possible task or position that a Realtor may have.

Real Estate Virtual Assistants can alleviate a Realtor's work load so he or she can focus on their business by taking care of daily tasks such as:

  • Buyer Broker & Real Estate Owned Reports – manage the assignment to submission to the bank.

  • HOA / Utilities – research and collect all information that is necessary to update the bank.

  • Property Preservation – Research and collect all information that is necessary to update the bank. Communicate with contractors to provide safety and security of the bank's asset.

  • Accounting - Reimbursements can be a hassle with all all the changing policies.

  • Marketing – Assist with registrations so you can start receiving work based on your area and credentials. Can also assist with FSBOs, tax searches, and mailers, etc.

  • Transaction Coordinator – Assist with all tasks from Bank assignment to closing.

The use of a Real Estate Virtual Assistant Services such as Pam's VAS you will get a team of professionally trained assistants who can handle all necessary tasks or position that you need. The use of a real estate virtual assistants can make the life of a Realtor easier. The Realtor can focus more on clients and showings and not worry about all the mundane day to day paper work.

Not only can Real Estate Virtual Assistants help you be more productive and achieve your goals, they can save you money thus generating you more income! What are some ways a Real Estate Virtual Assistant can save you money:

  • You won't need any additional office space or equipment.

  • You won't need to pay employee benefits.

  • Virtual Assistants can work on weekends.

  • Virtual Assistants are experts in their field which will increase efficiency and productivity.

In the world of a fast pace Real Estate industry, vast technology and the demands of time and outputs, Realtors are faced with the challenge to keep up in order to make it in the industry. Why do it all when there are people who are willing to do it for the Realtor's behalf. The helping hands are just one call or click away! Make your life and business more efficient today!

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Is The Real Estate Market Really Rebounding?

I have been asked by both my own clients, members of REOPro and the Mather Network, as well as my vendor partners about my thoughts on the real estate market rebound.

My first reply is always to remind people that real estate is directed correlated to unemployment and therefore, as long as unemployment is high, we will NOT have a rebound in real estate.

Normally, I get a lecture about how local real estate prices are on the rise and inventories are down so, isn't that proof enough that we are in a rebounding real estate market?

Sure, real estate markets, like any market, is a servant to the law of supply and demand and yes, when supply is down and demand stays the same, prices go up. Yes, that is happening so, if that is all you measure a rebound against, sure we are rebounding. The problem is, it's foolish to not ask why. Why is supply low?

With a continually high unemployment rate, shouldn't we be seeing the same amount of foreclosures? Sure we should but, why aren't we? I checked with my own local Sheriff's department to see how many foreclosures they did in 2013 so far. I was told, "We have done more foreclosures in 2013 than we have any time before." So, where is all the inventory....why do we have a inventory shortage. In fact, how is that possible when unemployment is at 2008 levels, the height of the housing crisis and when the Sheriff's department is reporting record evictions?

These are all important questions and really need to be answered because, from what I can tell, it appears housing is going through another bubble of sorts. Obviously something is artificially holding inventory off the market to manipulate the law of supply and demand but, for what purpose, what end game?

So, I had to look and see who are the largest holders of default property, HUD, Fannie Mae, Freddie Mac, FDIC, VA, and Bank of America. Well, what do we know about these companies / quasi government entities......all controlled by the Federal government. I had an insider over at Freddie tell me that they have all of these different programs now....namely, deed-in-lease, to keep homeowners in homes and therefore, avoid the foreclosure all together. She went further to tell me that even though they are avoiding the foreclosure, it has no...ABSOUTELY NO, reflection on the ability or inability of the previous homeowners, now renters capacity to pay a mortgage or any of the actual debt due on the mortgage.

She was just speculating but, she went on to tell me that in her opinion, it's likely that 85% or more of those in the deed-in-lease program and others like that, are just buying time because they will never be able to buy the home back, pay off any of the debt or be able to go out and purchase another home any time soon. She and I agreed, it was just a way to keep property off the market even though, without any intervention, it would have been on the market months, if not years ago.

Why would this be happening, why would the government want to artificially inflate prices by keeping property off the market?

1. Raise Property Values: It's not even a question amongst the minds of those in the know, the government wants to inflate prices. The reason is because they are losing so much money through Fannie and Freddie because of foreclosures and short sales that, it's just simply best for them to hold the property, decrease inventories, manipulate the law of supply and demand, raise prices and trickle the REO holdings back on the market so that they can sell for more than the debt owed.

2. Elections Have Consequences: Whichever political party can go out to voters and say that they are responsible for housing prices being on the rise, they will get re-elected....at least that it the thought.

All in all, the housing rebound isn't real, it's artificial for a variety of reasons, not just the two I gave above. The truth of the matter is, many feel this heavy handed control by the government of housing markets is absolutely necessary to prevent the further collapse of the US economy. Others see it as a prolonging of the inevitable and a violations of the free markets. Either way, with increasing debt, increasing unfair manipulations of the market, higher taxes, higher cost of living and higher energy and commodity prices, housing will begin becoming more and more volatile. I believe the days of housing being a safe investment are over. So many outside factors are now playing in the market, regardless if they are suppose to be there or not, it's just not as simple as it was just 10 years ago. Buyers are going to have to be much smarter before the purchase and understand that a minimum of 20% down and staying in the home for a minimum of 5 years might be the only way to get your money back, let alone make any money.

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Trust in Real Estate: Who Do YOU Trust?

I had a bad experience last year - I won't go into details, but I took a great job with a respected company, but the executive leaders were rotten and myself and a few others quit because of it. You know the drill - when you work for people you can't trust, it's only a matter of time. It hurt to leave, but staying would have been worse, and it gave me a lot to ponder.

"Who can I trust?"....that's the question, isn't it? In corporate America, it's a tough question to answer - and in Real Estate, it's even harder. The problem is that the industry has so much independence, and such a focus on production, that "bad apples" can easily sneak in & set up shop without anybody noticing.

I trust Jesse Gonzalez, the founder/administrator of the REO Pro Agent Network. Jesse's been a great friend over the last few years, and he's always been straightforward with me - even when it's not in his best interest. He's honest, and that's a rare thing. I do volunteer work for him every now and then - not because it does anything for me, but because he's a good person trying to make a difference for agents, and that means something.

Another person I trust is Tim Harris, of Harris Real Estate University. I did some work for him last year - before I took the "great corporate job" - and found him to be friendly, honest, and having true integrity. A year later, that hadn't changed, so I started doing volunteer work for him, and it led to a role at the University.

Trust matters in life, and we all value it more now because I think we've all been burned. Between "fix & flip" schemes, mortgage-backed securities scandals, and "hot new lead-gen" packages, we've probably all put ourselves into one idea or another that failed miserably, and usually involved somebody selling us a dream that simply wasn't true.

Let's face it: the last few years have been tough for real estate - for agents and the entire industry in general. Sometimes it's been a tooth & nail struggle just to pay the bills, but somehow we've survived, and we're stronger, wiser people for it. If all that pain & struggle had some purpose to it, though, let's hope that it was to make us wiser people, and part of that wisdom is knowing who to trust - and who not to.

Now it's your turn: who do you trust? Who are some of the people in your life who've made a difference, kept their word, and been honest with you even when it might not be in their best interest? Integrity matters, and I think it's more important to give credit to the people who have it than it is to complain about the folks who might not...

 

Sincerely,

  

Tim Ventura
Marketing Director
Harris Real Estate University
Real Estate Insider News

 
 
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It is a common occurrence in the Silicon Valley for homes that are in Probate to also go into default. For many older home owners there is scant cash in the bank, they may still have a mortgage, and without a trust a home goes to Probate. When that happens the bills, including the mortgage do not get paid until a Personal Representative is appointed by the court. This can be a lengthy process if there is a disagreement amongst heirs as to who should be in charge. Unfortunately that is a very common occurrence in Santa Clara probate sales.

So while the relatives are arguing over who rules the Santa Clara Probate roost, the mortgage does not get paid and the lender starts the foreclosure process.  

Once at least three payments are missed a Notice of Default may be filed on the Santa Clara Probate Sale. This notice will give you three months to cure the default. If the owned money on the Santa Clara Probate home is not paid during that three month period a Notice of Trustee Sale can be filed and the Santa Clara Probate home can be sold three weeks after that.

The attorney for the Santa Clara Probate home can go to court and get an order to temporarily stop the foreclosure process while the estate is being settled, but this takes some time as well.

Because the inventory is so low and the demand for homes is so high in Santa Clara, most Santa Clara Probate Sale homes can be sold and ownership transferred during the Notice of Default period. The defaulted loan on the Santa Clara Probate home can be paid off, and the rest of the equity used to pay the other bills and then distributed to the heirs.

Sounds simple, but sometimes it isn't. Once a loan on a Santa Clara Probate sale goes into default it is transferred to the loss mitigation department. Sometimes that is the equivalent of going into a black hole. These departments are overwhelmed and under staffed. It can take many weeks to get pay off information from them. In a traditional sale the title company will order pay off information less than a week before closing which is more than enough time to determine exactly how much is owed by the seller to pay off their loan.

In a Santa Clara Probate sale when the loan is in default it can take many weeks to get the pay off information. The title company should start the pay off demand as soon as there is a contract. That way, maybe 30 days later they will have the figures to pay off the loan.

If it is a short escrow period for the Santa Clara Probate Sale it is possible that everyone might be ready to close and there is still no pay off demand from the lender. When this happens, the escrow can still close and title can be transferred, but the money can not be distributed until the mortgage is payed off, and the estate will have to pay for a mortgage on a home it no longer owns until the bank gets its money.

So if you are involved in a Santa Clara Probate Sale and there is no money to pay the mortgage make sure that the process is started right away to get the pay off demand for the loan or the estate will be paying on the loan after the escrow is closed.

If you have any questions about Probate Sales in Santa Clara or San Mateo County please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285 

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Counties of WIThe Wisconsin housing statistics are now in for December of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:

Wisconsin’s housing market rebounded in 2012, with sales of existing home sales up substantially and median prices up modestly, according to the latest figures released by the Wisconsin REALTORS® Association (WRA). Sales of existing homes for 2012 were 20.7 percent above the levels of 2011, and the statewide median price increased 1.1 percent to $133,500 over that same period. “We’ve seen very strong growth in home sales for the last year and a half, which is an indication that buyers perceive the value of investing in housing again,”  said Renny Diedrich, chairman of the WRA board of directors. She noted that robust growth in home sales was seen throughout the state, with every region growing by double digits.
“Median prices have increased in eight of the last nine months, ending the year up 1.1 percent, which is a welcomed sign,” said WRA President and CEO, Michael Theo.
Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales have been increasing substantially all year. Both Dane and Rock counties are showing marked improvements in the number of homes sold. Prices have bounced in Rock County, while in Dane County WI they appear to now be slowly stabilizing.
If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.
Housing Statistics for the State of Wisconsin:
December 2012
Home Sales: 4,291
Median Home Price: $132,500
December 2011
Home Sales: 3,850
Median Home Price: $120,000
Housing Statistics for Dane County, WI:
December 2012
Home Sales: 404
Median Home Price: $200,000
December 2011
Home Sales: 318
Median Home Price: $206,000
Housing Statistics for Rock County, WI:
December 2012
Home Sales: 116
Median Home Price: $95,000
December 2011
Home Sales: 119
Median Home Price: $90,000
View my report from last month. Wisconsin November Housing Statistics
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