Real Estate Information

Pewaukee WI – If you are looking to buy a home, then you probably want to get the best deal. January is the best time to be purchasing a home. Let me explain why. A lot of people put their homes on the market in January.

In addition, there are very few people looking to buy a home in January. This is because most of the people transferring for a job have already bought a home. Their companies want them to have purchased by the end of the year so they can write it off on the corporate tax bill.

Discover how other sellers successfully did a short sale

Learn about foreclosure options by clicking here.

The remaining buyers are usually waiting until Spring to go house hunting again.

This gives you 2-3 months of prime negotiating time. It is more than likely that you will be the only offers most sellers will see until Spring. But, guess what happens in Spring? All of the other buyers start looking at homes and making offers. Those home sellers now have other options. Your offer isn't the only one they have on the table.

As a result, the seller might pass on an offer that they would have accepted in January. So, if you are looking for a home, get out there and start looking. Don't let the cold stop you from finding a great deal. You probably won't find home prices this low for a while. Everyone is expecting the economy to finally pick up in 2011. This will drive home prices higher.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Randy@HarrisTeamHomes.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (262) 844-1900

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Milwaukee loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Randy Harris.

Milwaukee WI – The Stop Foreclosure Institute recently received a question from Tamra.
She is buying a home and her agent is trying to talk her out of short sales.

Here is Tamra’s question. “I am looking to buy a home. Some of the best priced properties are short sales. However, my agent won’t show me these homes. She keeps on telling me the prices are lower than the lender will accept and that short sale never close. What should I do? I am really interested in these homes, especially at the price they are being offered at.”

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here was my answer. Tamra, you should talk to your agent and see what they dislike about short sales. Your agent may have had a bad experience with short sales in the past. Short sales are a great way to purchase a home at a good price. They are tougher and take a lot longer than your average real estate transaction. However, that doesn’t mean you shouldn’t consider them. Just be cautious with your search. Make sure the agent who has the house for sale has prior short sale experience. Your agent can ask them what short sales they have sold in the past. If they or the people working with them have a good track of working with the banks, then you should be ok.
Remember, not every short sale is going to be approved at the listing price. But, if they banks feel the price is fair, then they will accept the offer. So go look at some of those short sales. With a little luck one of them will be the perfect home that meets exactly what you are looking for.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny.

Send me an e-mail at Randy@HarrisTeamHomes.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have.

Or, if you prefer, you can call me at (262) 844-1900 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here

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Waukesha WI – Most homeowners negotiating a loan modification are not talented negotiators. After all, it’s not every American’s job to be a great negotiator.

America is built on hard work and treating people fair. Most stores offer products at a good, fair price. The price is the price. If you don’t like it, then don’t buy it.
But, don’t kid yourself when it comes to loan modification negotiators. The banks invest huge sumes to teach them how to negotiate. They train them to do everything they can to squeeze as much money out of you as possible.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

The supervisors tell them, “If it means not modifying the customer’s loan, then go ahead and do what you need to do. Don’t modify their loan.”
Here is a trick they use to avoid having to modify your loan. They tell you that you have to catch up all or part of the back payments before they will approve the loan modification.

It’s a trap.

Every single dime you pay them before starting negotiations is a dime lost. You can’t use that dime as part of your negotiations. They already have your money. If you pay them all the back payments, they won’t be as motivated to modify your loan. That is why I recommend that you hold onto every single penny you can until you get a signed modification agreement.
That way if the modification isn’t approved you can use the money for something else. Maybe you could use it as a down payment on a rental. Either way, at least you have your options open.

We offer a loan modification guide to consumers. Here is what we cover in the Stop foreclosure Institute's Loan Modification Insider Secrets Guide.

* An easy to understand, Step By Step Guidebook.
* How to write a Hardship Letter that gets your loan modification approved.
* Three big loan modification mistakes and how to avoid them.
* Loan Modification from the lenders point of view.
* How the Making Home Affordable Program can help you.
* What not to do so you don't risk being carted off to jail.
* How to calculate your budget properly to increase your chance of success.

To request this kit, please click here to request a copy.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Randy@HarrisTeamHomes.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (262) 844-1900 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Randy Harris.

Randy is a Real Estate Agent at Realty Executives Integrity.
Waukesha Short Sales Realtor: Phone: (262) 844-1900. Randy@HarrisTeamHomes.com.
Lake County to Lake Shore

Randy Harris specializes in loan modification assistance and short sales in Waukesha Wisconsin. Waukesha Loan Modification Help, Waukesha Short Sales. Waukesha short sale Realtor Short Sale Realtor. Waukesha WI Short Sales. Waukesha Realtor. This information on Waukesha Short Sales: A Common Loan Modification Mistake and How To Avoid It is provided as a courtesy to our viewers to help them make informed decisions.

Waukesha WI – A lot of people in today’s lending market are stuck. They locked in their interest rate when rates were higher. Now, they are barred from refinancing because they are upside down on their house. Whenever they apply for a new loan, the first thing the lender says is, “The current property value is less than what you owe. We can’t lend you enough money to pay off your old lender.”  

Do they have any options?

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.  

Their best option is probably a loan modification. Their lender is more than likely to work with them since their home dropped in value. They may have to stop making payments before their lender will approve a loan modification. But, some lenders are even modifying loans that are current. I’ve heard of homeowners stuck with a loan where the payments are going to gradually increase over time.

Their current interest rate is 6%. But, it is going to increase by 1% a year until it hits 9.5%. They can afford the home at the current interest rate. But once it goes higher, they will have to do something. Why not do it now? Take the onetime credit hit and lock in a reasonable interest rate. Some people have been able to get their interest rates on jumbo loans reduced to between 4% and 5%. Many loan modifications will even reduce your interest rate as low as 2% for 5 years. But, stick to your guns and lock in a reasonable rate for the remainder of the loan.
You don’t want to have to apply for another loan mod in 5 years. (Most people don’t see how interest rates could possibly go any lower.) We offer a loan modification guide to consumers. Here is what we cover in the Stop foreclosure Institute's Loan Modification Insider Secrets Guide.

* An easy to understand, Step By Step Guidebook.
* How to write a Hardship Letter that gets your loan modification approved.
* Three big loan modification mistakes and how to avoid them.
* Loan Modification from the lenders point of view.
* How the Making Home Affordable Program can help you.
* What not to do so you don't risk being carted off to jail.
* How to calculate your budget properly to increase your chance of success.

To request this kit, please click here to request a copy.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Randy@HarrisTeamHomes.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (262) 844-1900 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Randy Harris.

Milwaukee WI – Loan Modifications are tough. Lenders don’t want to reduce your payment or reduce the amount you owe. It’s insane. Don’t even get me started on the topic of the nation’s courts being tilted in the favor of the big banks!

Most loan modifications end in failure because the banks are so hard to work with. In a recent story in the news, a New Jersey Company is accused of defrauding homeowners out of thousands of dollars.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

According to the story, one couple had more than $2,800 billed to their credit card but received no loan modification. Another customer paid more than $3,500 and received no assistance. Your best bet for a successful loan modification is to negotiate it yourself. No one else is going to care as much as you. After all, whose house hangs in the balance? Yours! A loan modification negotiator in another state that has already collected his fee isn’t going to care as much as you will.

That is why we offer a loan modification guide to consumers. Here is what we cover in the Stop foreclosure Institute's Loan Modification Insider Secrets Guide.

* An easy to understand, Step By Step Guidebook.
* How to write a Hardship Letter that gets your loan modification approved.
* Three big loan modification mistakes and how to avoid them.
* Loan Modification from the lenders point of view.
* How the Making Home Affordable Program can help you.
* What not to do so you don't risk being carted off to jail.
* How to calculate your budget properly to increase your chance of success.

To request this kit, please click here to request a copy.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny.
Send me an e-mail at Randy@HarrisTeamHomes.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (262) 844-1900 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thanks for reading this, Randy Harris.

Pewaukee WI – We recently received a question from Richard. “I accepted a job transfer and had to move. Unfortunately we were upside down on the house. I decided to rent it out rather than short sale it. The renters just moved out. I just checked the house. They trashed it! I could rent the house out again, but I would have to spend several thousand dollars fixing it up first. What would you recommend that I do?” Richard asked.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Here was our recommendation. This is a tough situation. You could fix up the house and rent it out again. But, you risk having the same thing happen all over again.
Here is the other problem. The amount you can charge for rent has gone down in most areas. This means you will probably have to write a check every month. If you are able to rent it and cover all the costs, then I would recommend you keep the home. If not, then I would recommend you short sell it. Here is why I recommend that. If you can break even, then the house will be a good investment as the real estate market recovers.
However, you will always risk large unexpected costs like the one you are experiencing right now. If it the rent does not cover all the costs, then more than likely you are in an area where the housing prices are still dropping. This means the burden will only get bigger as time progresses. Costs will keep on going up. Rent might drop even more. The housing market could decline even further. It would be better to just get rid of the liability now, once and for all.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Randy@HarrisTeamHomes.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have.
Or, if you prefer, you can call me at (262) 844-1900

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification?

Our Milwaukee loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Randy Harris. Randy is a Real Estate Agent at Realty Executives Integrity. Milwaukee Short Sales Realtor: Phone: (262) 844-1900. Randy@HarrisTeamHomes.com. Lake County to Lake Shore

View My homes for sale at http://www.HarrisTeamHomes.com/Properties.

Randy Harris specializes in loan modification assistance and short sales in Milwaukee & Waukesha Wisconsin. Milwaukee & Waukesha Loan Modification Help, Milwaukee & Waukesha Short Sales. Milwaukee & Waukesha short sale Realtor Short Sale Realtor. Waukesha WI Short Sales. Waukesha Realtor.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

The views expressed here are Randy Harris's personal views and do not reflect the views of Realty Executives Integrity.

This information on Milwaukee & Waukesha Short Sales: Renters trashed my house. What should I do? is provided as a courtesy to our viewers to help them make informed decisions.

The Wisconsin Homeowner Bill of Rights

The "big banks" made mistakes and received a bailout. They have the resources to lobby congress and the courts to have laws written to suit them.

But, what have individual homewowers received? Nothing. So we decided to put together a Homeowner’s Bill of Rights. It’s time we had Washington look at what we want, versus taking care of the big banks.

Considering that the big banks have way more rights than the little guy, here is what we think should be done to “level the playing field.”

The Homeowner’s Bill of Rights.

1. Stop The Loan Modification Insanity! The Right to an open and transparent loan modification process. Any homeowner that can no longer afford their mortgage payment, petitions their lender for a loan modification, and it turned down shall receive a written, coherent response from their lender detailing why they were denied and what they can do to be approved for a loan modification.

2. The right to get an answer to a voicemail or e-mail from a loan mod or short sale negotiator within one business day.

3. The right to obtain the rules and guidelines for the loan modification of short sale from the loan servicer. Most loans are owned or insured by someone other than the lender the homeowner mails their payment to. However, these front entities still make decisions contrary to the investor or insurer’s guidelines.

As such, the loan servicer should send any and all guidelines regulating the loan modification and short sale process to the homeowner.

4. The right to deal with one person who will make the decision to approve or deny their loan modification or short sale. This person should be available to reach by phone or e-mail.

5. The right to attempt to negotiate a loan modification or short sale without fear. The homeowners have the right to have all foreclosure proceedings stopped when they are negotiating a loan modification or short sale.

Many lenders use an impending foreclosure sale date to force a higher payment from a homeowners attempting to secure a more affordable payment.

Many times the reason the sale date is so near is because the lender has dragged their feet on negotiating with the homeowner. Because they are under duress, many homeowners will agree to a payment they cannot afford.

Sure the loan mod negotiator at the bank gets a bonus. But, everyone loses when the homeowner re-defaults and the lender has to process a loan modification all over again.

6. The right to walk away from their upside down mortgage debt. We often see the lenders hold such a hard line on getting repaid everything they owe that they allow the collateral (the home that is mortgaged) decline in value even more than they ever would have received as repayment from the debtor.

7. Stop the Debt Collector Harassment! The right to tell any and all debt collectors to stop calling and never receive a phone call from then again. In addition, this would include debt collectors that know the person’s phone number, but will call family members in an attempt to embarrass the debtor.

This is America people! Debtor’s prison was abolished two centuries ago! It’s time to update your activities to the Twenty-First Century!

8. The right to have their short sale handled competently. The short sale process with most lenders is seriously flawed. Because of this, we see short sale offers for 385k rejected, only to see the home sell for 230k after foreclosure. This hurts homeowners, the banks, the housing market, and the American Economy.

Is it fair to pursue a homeowner for a larger deficiency when it was the lender’s decision to reject the short sale that caused the deficiency to be larger? I don’t think so.

Because of that, the homeowner has the right to have their short sale handled as detailed below.

A. All deficiencies are forgiven. We often see the lenders hold such a hard line on getting repaid everything they owe that they allow the collateral (the home that is mortgaged) decline in value even more than they ever would have received as repayment from the debtor.

Making the infamous difficult short sale process simpler and more attractive to buyers would net the banks way more money than will ever be recouped chasing down sellers.

B. To have their short sale handled to process everything as smoothly and quickly as possible so the home sells for top dollar and the loan owner receives the most money possible.

C. The right to work with a competent, experienced agent who specializes in short sales.

D. The homeowner is given a written list of investors, mortgage insurance companies, etc. (with contact information) that need to be satisfied for the short sale to be approved.

E. An appraisal is ordered and then the home is listed for sale at that price. The price is dropped by 5% a month, or whatever that lender’s standard price drop is for Bank Owned Properties.

F. Home buyers get an answer to their offer within 2 business days.

G. An appraisal is ordered and then the home is listed for sale at that price.

H. Allow short sale buyers 45-60 days to get their loan approved. Many lenders that have loan servicing departments that handle short sales. These departments demand that a home buyer close the transaction within 30 days of short sale approval.

However, these same companies have lending sides that cannot close a loan in less than 45-60 days. So essentially, they are demanding that other banks close loans in 30 days, when they themselves cannot do the same thing. I would call that serious hypocrisy! Don’t you agree?

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Contact me for a free consultation.

About Me: I am a Local Realtor in Waukesha County that truly wants to help people, nothing feels better when one of my tips helps somebody save, or improve their life. If you do want to sell your home in today market, or are looking for an amazing deal in todays market.  Please consider me as a choice when you pick a Realtor to work with. I will make sure you save money and guarantee you will be happy with the services I provide.
Well, that's all folks. If you have any real estate related questions,  e-mail me. Thanks for reading this. Hope to talk to you soon

Milwaukee WI - In this case I would recommend you sell the house. Now, if you are reading this blog, then you must be researching a short sale. Which means that you are probably upside down on the home. You have three options.

Option #1: Let your lender foreclose on the home. You just stop making the payments and surrender the home to your lender.

Option #2: short sale the house and get the debt wiped out. A short sale offers the following benefits over a foreclosure.
Issue: Can I get a Future Fannie Mae Loan? foreclosure: The current Fannie Mae Guidelines require you to wait 5-7 years before you can buy another home with a Fannie Mae Loan. Most other banks and lenders have the same or even stricter procedures. short sale: If are back on your feet 2 years after the short sale, then Fannie Mae guidelines allow you to get a loan from them.

Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.

Issue: Can I get a future loan from any mortgage company? foreclosure: Any future application will require you to answer the question, "Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?" you'll have to answer that question yes. short sale: You can state “No” because you short sold your home. You only have to say yes if the bank completes the foreclosure.
Issue: Credit Score Impact. foreclosure: Your score is typically lowered by 250 to 300 points, or even more. This often stays on your credit score for over 3 years. short sale: Only late payments show up. After a short sale, the mortgage is normally reported as "paid in full, settled." This lowers your score as little as 50 points if all other payments are being made. Oftentimes, this is off your credit report in as little as 12 months.
Issue: Will I owe the bank any money for the shortfall? foreclosure: Many lenders take 12-18 months to foreclose upon a property and resell it. This dramatically increases the loss and makes any deficiency judgment potentially bigger. short sale: Few lenders ask for a promissory note on a short sale. As an example, on one short sale, the bank lost over $120,000. They settled with the seller for $25,000 to be repaid over 15 years with zero interest. The seller's monthly payment was only $139. In time you might even negotiate and have the promissory note waived.

Option #3: Rent the property. This is a good way to earn some extra money. However, if you are upside down, then it is more than likely that the rent will not cover the mortgage. That means someone will have to write a check each month covering the loss.

Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at Randy@HarrisTeamHomes.com. I will contact you for a free consultation. When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (262) 844-1900.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Milwaukee Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.

Thanks for reading this, Randy Harris.

Part 1 of 2:  Here are 4 of the reasons why you can't sell you house.  Part 2 will be posted in the next couple of days.

1. Your property won't sell because your photos are "less than impressive". The vast majority of home buyers start their research for a home on the Internet, so your property had better look fantastic in print. Not just nice, it has to look downright fabulous.  Today an internet view is the same as a 'virtual showing'... if your house gets past that, then they might (just might) make an appointment to see it in person... You should really consider that your SECOND showing. Today's online viewers are expecting good quality photos (and lots of them... take a moment and your digital camera and force your agent to go earn their commission), a virtual tour, maybe even a floor plan, and they need to be high-quality, or don't bother.
   
   
2. Your property won't sell because it shows lousy ... or more accurately it doesn't feel like a "home". This could mean almost anything ... from the mountain of dirty dishes scattered around the kitchen to the 50 pound pitbull, barking and drooling at your potential buyers from behind the safety of the flimsiest child-gate, to the lingering smell of ... what exactly is that smell?.  Maybe the carpeting shows traffic-pattern wear, or your windows allow in slightly more than daylight.  All things that aren't visible from the Internet, but whoa.... once you get inside the house... they show up, like dog piles after a spring thaw!
3. Your property won't sell because it's overpriced. Hey don't kid yourself and more importantly don't let your realtor fool you.  Houses, and yes even condos, are selling ... if it's priced right. It's important to be as objective as you possibly can.  Look at the home as though you were a "buyer"... if necessary, make an appointment with your Realtor (or therapist) to view other properties that are priced comparably to yours.  Be brutally objective.  Given the other options on the market (and yes, you DO have to include short sales and foreclosures on your list... your potential buyers are!), would YOU buy your home, over the others that are currently available on the market? Buyer's are more knowledgeable about the houses you're competing with than than you are they been inside most of them and there's is ultimately the only opinion that counts.
   If the answer is "NO", (and try to be as honest as you can) well then you have your work cut out for you, don't you?  You either have to "update" your home to meet or beat the competition...(that might mean an updated bathroom or kitchen, or neutralizing some decorating... remove that old wallpaper that was there when you bought the house or lower your price to adjust for it.  if you can't afford to sell it for the price, that you KNOW it should sell for, this may not be the right market for you to sell.  Consider taking it off-market.
4. Your property won't sell because you're invisible. Today's buyer comes from the internet, almost exclusively.  Have you (or your agent) simply plopped the property on the MLS, and started praying?  Are you on all the websites...(Trulia, Zillow, Craig's List, Google Base, etc...) all the places that buyers are searching?  If not, you need to be, now! Don't try to be a secret, in today's electronic world.  You want to be found, and the sooner the better.

Look for Reason 5-8 in the next 5 days.