Buying a home, the biggest investment you will probably make

Buying a Home

Buying a home is probably the biggest investment you will make, with long-term financial ramifications. It calls for many informed decisions and for good advice from a real estate professional. When buying a home, you can learn from the knowledge and skill of a Real Estate Agent.

What can Real Estate Agents do to help you buy the right home for you?

• They will help you determine how much home you can actually afford. Often, they can suggest additional ways to accrue the down payment and explain alternative financing methods. They can also introduce you to a mortgage counselor and arrange to have you "pre-approved" which can improve your negotiating position and enable you to achieve your home-buying objectives faster and with less stress.
• Providing client level services, they can work for you as a buyer's agent and help negotiate the best price and terms for you. Or, they can serve as a seller's sub-agent (or disclosed dual agent), acting as a liaison between you and the seller to present offers and counteroffers until an agreement is reached.
• They will help you work out a realistic idea of the home best suited to your needs - size, style, features, location, accessibility to schools, transportation, shopping, and other personal preferences.
• They have access to a listing of all available homes in the multi-list system, can evaluate them in terms of your needs and affordability, and will not waste your time showing you unsuitable homes.
• They can often suggest simple, imaginative changes that could make a home more suitable for you and improve its utility and value.
• They can supply information on real estate values, taxes, utility costs, municipal services and facilities, and may be aware of proposed zoning changes that could affect your decision to buy.
• Although the law does not normally require an attorney to review documents or oversee real estate closings, they can provide you with a list of law practitioners to choose from if you would like to use the services of an attorney.
• They can help familiarize you with the closing process and they will obtain closing figures in advance of closing for your review.
• They can provide you with a list of qualified home inspectors, pest inspectors, surveyors, and help to coordinate inspection appointments.

Top 10 Tips to Successful Home Buying

Tip #1: Research Is The Key To Discovery

Home sellers won't call you with an offer to buy a maintenance-free home with a wonderful mortgage. You have to find the gems yourself! Only by reading available materials, talking to friends and experts, and spending time looking at different homes, schools, and neighborhoods will you end up with your American dream. Avoid the nightmares by learning how best to buy and maintain a home.

Tip #2: Make A Plan And Get Pre-Qualified

Every important decision needs to be clearly thought out. Developing a home buying plan can help you focus on the important factors and organize the entire process. You may even want to use a binder with sections on house hunting, home financing, service providers, etc. Loan pre-qualifying helps you determine the home price you can afford and presents you as a genuine prospect to the seller. A lender typically uses the 28% formula (your monthly mortgage can't exceed 28% of your monthly income) in approving your loan. Planning your actions and getting pre-qualified will keep you out of the panic mode and allow you to take advantage of opportunities. A thorough plan will save both time and money!

Tip #3: Value, Value, Value

The days of 10-30% annual appreciation have passed. Homebuyers in the 1970's benefited tremendously from what seemed like ever appreciating home prices. Nowadays, you're looking at slow growth while guarding against the possibilities of falling prices, skyrocketing ARM rates and corporate layoffs that can dramatically affect your home values. The classic rule of buying the worst house in the best neighborhood still applies. If you buy with an eye towards improvement, you can customize the home to fit your needs. The saying, "make money buying a home, not selling one," should keep you focused on the long-term importance of the purchasing price.

Tip #4: Create A Top 10 List Of Amenities

When shopping for a home, list the features (fireplace, fenced-in yard, new appliances, etc.) that are most important to you in deciding on which home to buy. Establishing "your criteria" early on will save time shopping for inappropriate homes and may keep you from buying a home on a whim. As detailed in Tip #3, your top reason for buying a home should be the value you are getting. Some of your top 10 amenities should logically be sacrificed if an incredible value is available.

Tip #5: Fixed vs. Adjustable Rate Mortgages

Adjustable rate mortgages have an initial fixed rate, which is followed by a period of adjustment intervals during which the rate adjusts based on the performance of several key indexes. Typically the initial fixed rate on an ARM is slightly lower than the comparable rate of a fixed rate mortgage.
Fixed rate mortgages allow buyers to take out a long term loan without having to worry about changing interest rates or monthly payments. Most fixed rate loans are offered in either 15 or 30 year terms.
Most buyers will be well served by a fixed rate loan, but each situation is unique. While ARM loans have become less popular in recent years, they can still be a viable option for some buyers - especially those who plan on selling again in the short term.?
Whichever loan you choose; make sure that you scrutinize all the closing costs. If you are required to have a mortgage escrow account and private mortgage insurance, make sure you understand the terms and cancellation procedures (your Real Estate Agent has publications to assist you). Also, make sure there are no prepayment penalties so that you can utilize an accelerated mortgage plan. A good mortgage reduction plan can save you tens of thousands in interest costs, and shorten your loan term, with only small extra principal payments. If you experience negative changes in your job, health, or marital status, you can revert to the standard payments in your mortgage contract.

Tip #6: Sign A Contract That Protects You

Make sure that the contract you put on a house allows you to arrange financing, inspect the home and negotiate any problems that you uncover. Ensuring that the contract you sign will minimize potential legal battles will let you swim in your new pool with your family and neighbors instead of with the sharks.

Tip #7: Put Yourself In The Seller's Shoes

You are about to make one of the most important decisions that will affect both your life and the life of the seller. If you take time to understand the reasons the seller bought the home, their reasons for selling, and the home improvements they have or have not made, you'll be in a better position to evaluate the home and negotiate a better deal. In the end, the home buying process excludes the professionals and comes down to the individuals buying and selling the home. A closer look at the seller may help you in deciding whether and for how much to buy a particular home.

Tip #8: Develop A Mortgage Shopping Chart

One of the biggest decisions to make before putting a contract on a home is how to finance the purchase. There are 10,000 lenders competing for your mortgage business. The days of simply walking into the community bank and negotiating with the loan department manager are over. Today, you can apply for a loan over the Internet or even use a mortgage broker to shop for your loan with hundreds of lenders. When choosing a lender, you want to avoid apples to oranges contrasts by comparing fixed rates to fixed rates, not fixed to ARM's. Create a chart that lists different types of loans, fees, and at least five mortgage providers (including a mortgage broker).

Tip #9: Get A Quality Home Inspection

Although it is hard to believe, more people pay for inspections before buying used cars than when making the biggest investment of their lives - their homes. Paying for a qualified home inspection before you buy a home isn't just spending "a little extra" for peace of mind; it's absolutely essential for anyone who doesn't want to spend thousands of dollars for repairs.

Tip#10: Peace Of Mind: Home Protection Plans

To protect both you as a buyer, as well as the seller, it is a good idea to purchase a home protection plan.? What exactly is it? A home warranty, or home protection plan, is a service contract, normally for one year, which protects homeowners against the cost of unexpected repairs or replacement of their major systems and appliances that break down due to normal wear and tear. A negotiable contract between the buyers and sellers which does not overlap or replace homeowner's insurance policy, this type of warranty can save the new homeowner lots of headaches, as well as put seller's fears to rest. The warranty covers mechanical breakdowns, while insurance typically repairs the related damage. For example: if a hot water heater burst and destroyed a wall in your home, the warranty would repair the water heater and your insurance would pay to fix the wall.


Wisconsin Real Estate - Please feel free to contact me for any of your real estate needs including an online market if you are a seller, or finding a home in Waukesha County, Jefferson County, Dodge County, Washington County, Milwaukee County or any county in Wisconsin. Real Estate is an excellent investment!
When you are looking at buying a Waukesha county home , real estate agent, finding a Waukesha real estate agent, finding a Delafield, Chenequa, Pewaukee, Oconomowoc, Hartland, Waukesha, Sussex, Mukwonago, Wales, New Berlin, Brookfield, Dousman, Eagle or any other of the great municipalities in Waukesha County,Wisconsin.

If looking for LAKE COUNTRY LIVING on one of Waukesha County's great lakes: Nagawicka, Pewaukee, Pine, Beaver, Okauchee, Moose, North, Oconomowoc,I would be glad to help you in any relocation to Waukesha County, or help in buying a home in Waukesha County, or selling a home in Waukesha County. I strongly encourage any seller that is looking to market their property this year to get a sound feeling for what it is worth. Real estate in Waukesha County, Real Estate in Wisconsin is now an excellent investment, prices of superb, selection is great, and the rates are outstanding.

When you are looking at buying a Jefferson County home , or DODGE County real estate agent, finding a Watertown real estate agent, finding a Jefferson, Johnson Creek, Fort Atkinson, Ixonia, Lake Mills, Hartford, Ashippun, Slinger, Beaver Dam,or any other of the great municipalities in Jefferson County or Dodge,Wisconsin.

Lisa Bear of RE/MAX, your real estate expert offering On-line markets, LISTING PACKAGE and FOR SALE by OWNER OPTIONS, MLS search access, buyer agency, Home Warranty, all with outstanding service!

Real Estate in Wisconsin is an excellent investment!

Get your kids out and become an empty nester!

Unidentified MOM sure is happy kids are moving out!

Want your kids out too? Lisa Bear of REMAX will help get them OUT, and into a new home of their own. Contact me for more details as to HOW. (You know you want too!)




Please feel free to call me for any of your real estate needs, including an online market if you are a seller, or finding a home in Waukesha County, Jefferson County, Dodge County, Washington County, Milwaukee County or any county in Wisconsin. Real Estate is an excellent investment!

When you are looking at buying a Waukesha county home , real estate agent, finding a Waukesha real estate agent, finding a Delafield, Chenequa, Pewaukee, Oconomowoc, Hartland, Waukesha, Wales, Mukwonago, Wales,New Berlin, Brookfield, Dousman, Eagle or any other of the great municipalities in Waukesha County,Wisconsin.

If looking for LAKE COUNTRY LIVING on one of Waukesha County's great lakes: Nagawicka, Pewaukee, Pine, Beaver, Okauchee, Moose, North, Oconomowoc,I would be glad to help you in any relocation to Waukesha County, or help in buying a home in Waukesha County, or selling a home in Waukesha County. I strongly encourage any seller that is looking to market their property this year to get a sound feeling for what it is worth. Real estate in Waukesha County is now an excellent investment, prices of superb, selection is great, and the rates are outstanding.

When you are looking at buying a Jefferson County home , or DODGE County real estate agent, finding a Watertown real estate agent, finding a Jefferson, Johnson Creek, Fort Atkinson, Ixonia, Lake Mills, Hartford, Ashippun, Slinger, Beaver Dam,or any other of the great municipalities in Jefferson County or Dodge,Wisconsin.

Please feel free to call me for any of your real estate needs, including an online market if you are a seller, or finding a home in Waukesha County, JEFFERSON County, Washington County, Dodge County, Milwaukee County. Real Estate in Waukesha County is an excellent investment!

262-893-5555 Office/Cell

(888) 872-0526 

Direct Fax

 
Proudly Serving Southcentral and Southeastern Wisconsin with Referrals from my Clients
 
Look for properties across Wisconsin on MLS at http://www.lisabear.com

 

 

 

Easy Do-It-Yourself Kitchen Upgrades

By Farnoosh Torabi, Yahoo! Finance | Financially Fit – Wed, Feb 22, 2012 12:00 PM EST

Considered to be the heart of the home, the kitchen is where your family likely spends the most time, and, it's one of the most important rooms to potential home buyers. Therefore, it's worth investing in some upgrades in this space. Experts say even a minor kitchen facelift can earn you back more than 80% of the cost. Leslie Grete, the star of TLC's While You Were Out and Trading Spaces, offered the following easy kitchen upgrades that, together, cost less than $1,000!

Add a Fresh Coat of Paint
"This is probably the easiest and most affordable project you can take on as a homeowner to deliver the biggest bang for the buck," says Segrete. "For $40 a gallon you can buy a really good quality paint, and all you need is a couple of hours or a weekend and you can really transform your space."
 
Refinish Your Cabinets
"If you're unhappy with your cabinets, you're going to be unhappy with your kitchen," says Segrete, who upgraded her own cabinets when she bought her home eight years ago. "The cabinets were looking a little worse for the wear so we cleaned them, lightly sanded them, re-stained them and they still look good today." Do this yourself and save over $500.

If your cabinets are still structurally sound, spruce them up with paint, or by resurfacing, which typically saves you 50% over what replacing the cabinets would cost.

Another quick fix is to update your faucet fixtures and door handles. "For a couple of hundred dollars cosmetic changes are super easy do-it-yourself projects that can completely change the look of your kitchen. Head over to your home center, grab a simple guide, which slides right on the cabinet's door-front. You'll know exactly where to drill and never make a mistake," says Segrete.
 
Glam Up Your Lighting
 New ceiling lights and chandeliers can go a long way and add that "wow" factor to an otherwise dull room. Segrete suggests installing a pendant light, which doesn't require the help of an electrician and can cost less than $50. "It screws right into the socket where the light bulb would go, then a canopy slides up and covers the high hat fixture. For a little money and no electrician you can change the look of your space." For an even more dramatic look, a chandelier sometimes does the trick. Ikea has trendy pieces for less than $50.
 
Beautify Your Backsplash

Retiling your backsplash on your own can cost as little as $140 and "it doesn't have to be difficult," says Segrete. One of her favorite products for DIYers is the Bondera Tile Mat Set. "It's basically a super sticky contact adhesive that you put right on your existing backsplash. Tile directly to the Bondera, grout the same day, and you are done with that project." A whole roll of Bondera costs about $40.
 
Opt for Laminate Countertops


Changing your countertops can seem like a daunting process, but Segrete says, not so. "If you're looking for something affordable that you can do yourself, think about laminate. It costs $10 to $40 per square foot about four times less than quartz or granite," she says. Your local home improvement store may be able to cut the laminate to the exact size you need for even added convenience.

Share your low-cost home-improvement tips with me on Twitter @Farnoosh, using the hashtag #finfit.

Calling City Employees & Teachers to come check out this home for sale in Milwaukee -3279 N 88 Milwaukee, WI 53222

Calling City Employees & Teachers or 1st time home buyers!Hard to find ''jumbo'' Cape Code in excellent condition.3 bedrooms,2 full baths.The Master''suite'' has private bath & changing area w/super sized closets. The kitchen is enormous with snack bar, plenty of cabinets,nice black appliances (range,refrigerator, microwave and dishwasher).Home boasts hardwood floors in living room and master.The main floor family room is open to kitchen,lots of windows and new deck off back.Plus lower level rec room! See today

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Tis the season - Shopping list for the new homeowner

Tis the season - Shopping list for the new homeowner 

 Basic tools every home and homeowner needs

The Holidays are the perfect time to purchase gifts new homeowners can use to maintain and personalize their new home.

Every home needs care, maintenance, and repair work done. Most new homeowners do not have the tools they will need and the same applies to some homeowners that have owned the home for a while. Homeowners are not equal in repair, and maintenance skills. 

First, know your limits if you attack a repair that is to far over your head, the repair to the repairs you have done will be more expensive. If you are over your head call a professional to make the repair. There is a tremendous library of information available to you on the internet, books, magazines, and television shows, to show you how to on most repairs... Although most repairs can be done by the homeowner, they have to be done right! Tools are the first step in doing a good job. Without them, the job will be frustrating, and it probably will not be completed or it will be a hurried disrepair job.

Here is a list of tools that most homeowners should have. Many other tools that are useful these can be purchased as the job at hand indicates. Get what you need and need what you get is a great rule. Of course there are some tools you, will have to have, GOLF CLUBS, AND FISHING RODS! These are essential to your personal maintenance!

Interior Tools:Set of socket wrenches, Set of screwdrivers Phillips and pan head various sizes, Set of open end wrenches, Set of Hex wrenches, Hand saw for wood, Hack saw for metal, Stud finder, Voltage tester, Flashlights, Pluming snake, Needle nose pliers, Gas pliers several sizes, Putty/drywall knifes, Circular saw, Framing square, Caulking gun, 2 Pry bars, a small 6” and a medium 12”, 2 foot and 4-foot level, Small claw hammer, Standard claw hammer, Rubber mallet, Cordless and/or power drill, Pipe wrench 2 sizes, Measuring tape 25’ , Set of drill bits, Staple gun, Paint brushes various sizes, Paint rollers and pan, Painting drop cloth, Belt sander, Saw horses, Work bench and vice

Exterior tools:Lawn mower, Fertilizer/seed spreader, Rakes for leafs, Lawn trimmer, Thatch Rake for lawn, Hoses 5/8 Diameter, Pruning shears, Wheelbarrow, Flat shovel, Sprinklers, Spade shovel, Leaf blower, Pruning saw, Garden rake, Pruning scissors, Brooms, Dust pan with small broom, Snow shovels, Stepladder, Extension ladder, Plastic tarps

You need to decide how involved you want to become with your home maintenance tasks.  There is no shame in not doing repairs yourself and hiring a contractor.There is shame if you know a repair needs to be done and do not do it yourself or hire a contractor. Ignoring a repair will not make it go away it will make it more expensive when the repair is done. If there is a problem do not wait fix it right away!

Please feel free to call me for any of your real estate needs, including an online market if you are a seller, or finding a home in Waukesha County, Jefferson County, Dodge County, Washington County, Milwaukee County or any county in Wisconsin. Real Estate is an excellent investment!

When you are looking at buying a Waukesha county home , real estate agent, finding a Waukesha real estate agent, finding a Delafield, Chenequa, Pewaukee, Oconomowoc, Hartland, Waukesha, Wales, Mukwonago, Wales,New Berlin, Brookfield, Dousman, Eagle or any other of the great municipalities in Waukesha County,Wisconsin.

If looking for LAKE COUNTRY LIVING on one of Waukesha County's great lakes: Nagawicka, Pewaukee, Pine, Beaver, Okauchee, Moose, North, Oconomowoc,I would be glad to help you in any relocation to Waukesha County, or help in buying a home in Waukesha County, or selling a home in Waukesha County. I strongly encourage any seller that is looking to market their property this year to get a sound feeling for what it is worth. Real estate in Waukesha County is now an excellent investment, prices of superb, selection is great, and the rates are outstanding.

When you are looking at buying a Jefferson County home , or DODGE County real estate agent, finding a Watertown real estate agent, finding a Jefferson, Johnson Creek, Fort Atkinson, Ixonia, Lake Mills, Hartford, Ashippun, Slinger, Beaver Dam,or any other of the great municipalities in Jefferson County or Dodge,Wisconsin.

Please feel free to call me for any of your real estate needs, including an online market if you are a seller, or finding a home in Waukesha County, JEFFERSON County, Washington County, Dodge County, Milwaukee County. Real Estate in Waukesha County is an excellent investment!

262-893-5555 Office/Cell

(888) 872-0526 

Direct Fax

 
Proudly Serving Southcentral and Southeastern Wisconsin with Referrals from my Clients

Look for properties across Wisconsin on MLS at http://www.lisabear.com