Wisconsin Real Estate BlogRecently posted or modified blog postshttps://www.searchmidwesthomes.com/blog/Copyright SearchMidwestHomes.com2023-10-11T16:11:05-07:00tag:searchmidwesthomes.com,2012-09-20:20619Why selling your home during the holidays is the ultimate cheat code!Don't Wait Until After the Holidays to Sell Your Home - Yes, DURING THE WINTER MONTHS!
Prospective homeowners in Wisconsin, we've got some warm weather advice for you - it's time to put on your Santa hat and start selling your home now, rather than waiting until after the holidays. While it may seem counterintuitive to list your home in the chilly winter months, we've got some frosty-fresh reasons why it's the smart move.
1. Less Competition, More Attention
Picture this: you're at a holiday party, and everyone's gathered around the snack table. The cookies and punch are disappearing faster than you can say "Ho, ho, ho!" Now, think of the real estate market in Wisconsin during the holidays. Most homeowners are busy decking the halls, not the 'For Sale' sign. That means less competition for you!
With fewer homes on the market, potential buyers have fewer options to choose from. Your home can shine in the spotlight, attracting serious buyers who are eager to wrap up a deal before winter's end.
2. Serious Buyers Brave the Cold
Who in their right mind would be out house-hunting in our freezing Wisconsin winters? Serious buyers, that's who! If someone is willing to slog through snowdrifts, frigid temperatures and that wonderful combination of snow and roadsand to view your home, they mean business. You won't waste time entertaining tire kickers who are merely browsing through properties for fun.
3. Beware the Springtime Tire Kickers
Which leads us to: the springtime surge! Come spring, the market tends to flood with looky loos, nosy neighbors, and folks with a lot of free time on their hands. Unfortunately it's true, there are always pools of buyers that are not genuinely interested in buying but are just there for a leisurely stroll through your lovely garden. Listing your home before the holidays helps you avoid these time-wasters.
4. Deck the Halls and Sell Your Walls
Holiday decorations can turn your home into a cozy, inviting haven for prospective buyers. The warm glow of twinkle lights, the smell of fresh-baked cookies, and the festive décor make it easier for potential buyers to picture themselves living in your home. A good agent knows to take advantage of a homeowner who already has their tree up by letting the buyer know that they can put their tree there too! So, let your halls be decked, and let your home enchant!
5. Predicting the Unpredictable: Interest Rates
Nobody has a crystal ball to predict what interest rates will look like next year. Selling your home now means locking in current rates. Waiting until after the holidays could mean higher rates that put a dent in your home's appeal to buyers.<br /><br />
6. Stand Out in a Winter Wonderland
As the seasons shift, most homeowners are content to enjoy the autumn hues and the summer's last rays. They'll wait until after the holidays to list their homes, and by then, the landscape will be cloaked in white. Or worse...Your proactive approach sets you apart from the crowd. By starting the process now, you can capture your home's true essence. Beautiful green or autumn surroundings, and outdoor spaces that invite potential buyers to envision themselves living in your haven. Don't miss out on this opportunity to showcase your property's full potential while the foliage is hiding under the newest blanket of snow.
So, don't hesitate—start your home-selling adventure this winter! It's time to make your real estate dreams come true in a snow-kissed wonderland. Happy selling! 🏠❄️🎁2023-10-10T14:00:00-07:002023-10-11T16:11:05-07:00Marine Yootag:searchmidwesthomes.com,2012-09-20:10979Staging a Home for SuccessStaging a Home for Showings
<br />When it’s time to sell your home, it’s important that it appears in tip-top shape for prospective buyers. When you stage the home, you arrange furniture and décor in an appealing way that represents what the new owner can possibly do in each room. It allows them to picture themselves living in the home rather than trying to imagine the scale of different kinds of furniture. Get a head start on your moving by packing away items that don’t show your home to<br />its full potential.
<br />Staging Must-Do’s for Success
<br />Don’t Neglect the Outside: Make sure your home looks well-maintained on the exterior. Keeping up with curb appeal sets a great first impression when buyers get their initial glimpse of the house. Clip the lawn regularly, trim existing hedges, and weed any flowerbeds. Clean the windows and consider power-washing your siding and pavement. Clear the outside of your house<br />from any debris or clutter.
<br />Clear the Clutter: The last thing house shoppers want to see is a house full of stuff. If you are still living in the home, this part of staging can be the most challenging. Still, you can use this as an opportunity to pack before your expected moving day. Store your things in an offsite location or in areas of the home intended for storage, like attics, basements, or closets.
<br />Give it a Clean Sweep: Nothing is worse than walking into a home for sale that is dirty. Potential buyers want to see the house looking its best, and don’t want to think about the work they may need to put into it before they can move in. While you might think this involves repair work only, it’s important that floors be cleanly swept and mopped, surfaces be free of crumbs and smudges, and any odors from cooking or pets be eradicated.
<br />Furniture with Function: Buyers want to see each room being utilized with its intended functions, so that they can envision themselves doing the same thing in the home. This means you should only have furniture that serves a purpose in each room, and you should be sure to keep the amount of furniture to a minimum. You should also look to stage the home with furniture that fits the scale of the room. For instance, you wouldn’t want to put a California King bed in a room that is only 80 square feet large.
Minimize Décor: To stage a home in the most appealing way, you should remove all pictures of yourself and your family as well as any religious décor. After you’ve painted the home neutral colors, you should only use décor that enhances each room. Select a single piece of art that is not too busy. Be sure to pick out something that is sized appropriately for the room. Wall hangings are more appealing than knickknacks, like candles or statues. You can utilize some healthy plants that are small, but limit these to just a few for the whole house.
Hire a Professional: If figuring out how to properly stage your home is challenging for you, consider hiring a professional staging company or working with your real estate agent. Either of these entities will have the knowledge of current staging trends to set your house sale up for success. Sometimes they can even lend or lease items to you that will perfectly make your home appeal to future buyers.2021-03-31T06:24:00-07:002021-03-28T13:40:17-07:00Austin Duerrtag:searchmidwesthomes.com,2012-09-20:10970TO-DO LIST FOR FIRST TIME HOMEBUYERSIf you’re buying a home for the first time, it can be a little difficult trying to figure out where to start. Here’s a handy to-do list to help you out, and be sure to call me if you have any questions!
1) Save: Save for a down payment, closing costs, and escrow for insurance and taxes. It is always safe to have 20% of the amount of the home you are trying to buy. So, if you are looking at a $300,000 home, try to have $60,000 saved. TIP: You can always get a loan if you do not have this.
2) Improve Credit Score: Make sure to stay current on your bills, make no major purchases, don’t cancel any credit cards. A higher credit score means a lower interest rate!
3) Calculate what you can afford: Look for a mortgage calculator online, or give me a call and I can let you know what you can afford!
4) Get Mortgage Preapproval: Shop for the best deal, choose primary and backup lenders, and look for mortgage advice. I have some great lenders you can choose from, and I am here if you need any advice.
5) Decide: Decide what you want in a home. Are you looking for a home with a pool, or do you need something with a big backyard for your dog to run-around in? How many bedrooms do you need? What kind of kitchen do you want? Do you want a new build? Write down all of the things you want in a home, and give it to your realtor and they will help you find a home with everything you need.
6) Choose a Realtor- Looking for a realtor? You have come to the right place! I have the experience, patience, and knowledge you have been searching for.
7) Visit Homes- Your realtor will take you to the homes you’d like, but there are a few things that you should do to ensure that your favorite home will end up working out for you. Take photos and make notes about each home that you visit and compare it to the list you made in step five.
8) Narrow choices- Choose your favorite homes and visit the neighborhood during the day and at night to gauge traffic, noise, etc. Also, test the commute from work and consider the resale value.
9) Make an Offer- Make an offer on the home! I am here to make sure your offer is considered, and will work hard and collaborate with the other realtor to make sure I highlight how much you are interested.
10) Schedule Home Inspection: I have a great inspector that will do a walk-through of the home and let you know things that may need to be fixed.
11) Make Final Walk-Through: Test the light switches and sockets, check and make sure that the doors and windows work, and test the faucets, drains, toilets, etc.
12) Close and Move In- Start your life and enjoy the happiness!2021-03-25T09:46:00-07:002021-03-25T09:50:17-07:00Austin Duerrtag:searchmidwesthomes.com,2012-09-20:4445Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/1159/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2018-11-28T14:03:00-07:002018-11-28T14:04:59-07:00Michelle Yootag:searchmidwesthomes.com,2012-09-20:4443Will Increasing Mortgage Rates Impact Home Prices?<img src="https://assets.site-static.com/userfiles/1159/image/mortgage-rate-projections.jpg" alt="Will Increasing Mortgage Rates Impact Home Prices? " title="Will Increasing Mortgage Rates Impact Home Prices? " height="410" width="750" />
There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.
This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.
A recent study by the John Burns Real Estate Consulting found mortgage rates have very little impact on the cost of the home. The housing market and price increases are affected by things like job growth in the area and rising wages. Coincidentally, these same factors are causing the rise in the mortgage rates since people can afford to take out more.
Bottom Line
As the economy progresses and strengthens, mortgage rates and home prices will fluctuate. It is a misconception as rates increase, home prices will decrease. Advances in the economy have shown that rates and home prices are more likely to increase together.2018-11-28T14:03:00-07:002018-11-28T14:04:48-07:00Michelle Yootag:searchmidwesthomes.com,2012-09-20:4444Common Things to Look Out for Before Buying Your Dream Home<img src="https://assets.site-static.com/userfiles/1159/image/3-questions-to-ask-before-buying-your-dream-home.jpg" alt="Common Things to Look Out for Before Buying Your Dream Home" title="Common Things to Look Out for Before Buying Your Dream Home" height="410" width="750" />
It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.
It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.
1. Why am I Buying a Home?
Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.
2. What is the Trend with Home Values?
Our current economy and housing market is strong. That means home values and mortgage rates are increasing. If you are looking to purchase a home but want to stay within a budget, it may be in your best interest to move quickly. It is forecasted for these trends to continue in an upward motion, causing home values to continue to increase.
3. What About Current Mortgage Rates?
The ticket price is not the only thing you should be concerned with when purchasing a home. Mortgage rates are always changing and can have a huge impact on your monthly payments. Current trends show mortgage rates are rising. This is something to consider if you are debating the right time to purchase a home, since the rates may be even higher down the road.
Bottom Line
You and your family are the only ones who can determine the right time to purchase your dream home. It is important to decide exactly why you want a new home for your family and decide on a budget that will be comfortable moving forward. This budget may affect the amount of time you have to search for a home, since home prices and mortgage rates are increasing. 2018-11-28T14:03:00-07:002018-11-28T14:04:54-07:00Michelle Yootag:searchmidwesthomes.com,2012-09-20:4446Is Getting a Home Mortgage Still Too Difficult?<img src="https://assets.site-static.com/userfiles/1159/image/getting-a-home-mortgage.jpg" alt="Is Getting a Home Mortgage Still Too Difficult?" title="Is Getting a Home Mortgage Still Too Difficult?" height="410" width="750" />
Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.
Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.
What Has Happened to the Number of Mortgages?
Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.
Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.
The Effect on the Economy
The housing market is recovering at a slower pace than it should since less potential homebuyers are being offered loans. While the market is still recovering with positive trends, fewer buyers can create a strain on other economic factors like home goods or construction jobs. Bottom Line
After the housing market boom and bust, mortgage lenders became stricter in their lending standards. It is not impossible to get a mortgage loan, but it can still be difficult for potential home buyers. Stay on top of your credit and make sure you and anyone else who is applying are in a good financial position so you can be approved for a loan. It is important to research different companies and their requirements to ensure success in getting a mortgage.2018-11-28T14:03:00-07:002018-11-28T14:05:05-07:00Michelle Yoo