Money Magazine: The Real Estate Market is Back

Money Magazine: The Real Estate Market is Back

by The KCM Crew on March 18, 2013 · 0 comments

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Last Friday, we ran an InfoGraphic from RealEstate.com that showed that the real estate market was coming back. Some objected that the information was from a survey of industry players that may have a natural bias. For the doubters, here is the cover of the latest edition of Money Magazine released this past weekend.

The magazine supported their case by explaining:

• In the last year, home prices increased in 92 of the country’s 100 largest metropolitan areas
• Homes are more affordable than they’ve been in 40 years
• The number of houses for sale is at the lowest level in a decade
• Price increases are projected for most of the country this year

It seems that even the unbiased realize that Housing is Back!

Its time.... to look for a lake house in Wisconsin

Looking for a lake house?

Looking for a lake house?  Click here, is that easy!

The Magic of Wisconsin Lakes

The Magic of Wisconsin Lakes – The Ranking of Wisconsin Lakes

There are many reasons people fall in love with Wisconsin lakes. Spectacular sunrises and sunsets, good fishing, a tour of the water in a favorite boat, a beautiful backdrop to enjoy scenery and explore nature, a place to reflect or just get away from it all. With more than 15,000 Wisconsin lakes, there are many types and sizes of lakes all with their own unique character and natural assets.

Ranking the Lakes in Wisconsin

The clearest lakes aren’t necessarily the healthiest.  An extremely clear lake may lack the plant life needed to support a robust fishery. Ecologically balanced lakes are more important: those with a healthy mix of native plants, forested shores, minimum runoff coming into them, a good fishery and diverse wildlife.  

Dodge County’s Fox Lake is the most challenged lake in the state, because of  its high phosphorus level and poor native plant community. Farms with 400 and 500 dairy cows dot its watershed and industrial waste is being spread in its backyard. The lake underwent a restoration that held for a while, but it has relapsed.  

Wisconsin’s Clearest Lakes

Black Oak Lake, Vilas County (30.8 feet of visibility)
Blue Lake, Oneida County (29 feet)
Bardon (Whitefish) Lake, Douglas County (26.3 feet)
Lee Lake, Oneida County (26.1 feet)
Upper Eau Claire Lake, Bayfield County (25.3 feet)
Fence Lake, Vilas County (25.1 feet)
Pine Lake, Waukesha County (24.3 feet)
 Stone Lake, Washburn County(24.0 feet)
Bond Lake, Douglas County (22.8 feet)
Wind Pudding Lake, Oneida County (22.8 feet)
Source: Based on water clarity data provided by the UW-Extension Lakes Program.
 
Wisconsin’s Healthiest Lakes

Lakes Owen Lake, Bayfield County.
Dorothy Lake, Chippewa County.
East Ellerson Lake, Vilas County
Burnt Wagon Lake, Chippewa County
Bond Lake, Douglas County.
Middle lake of Lauderdale Lakes, Walworth County.
Montgomery Lake, Kenosha County
Lulu Lake, Pleasant Lake and Wandawega Lake in Walworth County
Gilbert Lake and Lowe Lake in Washington County
Little Elkhart Lake in Sheboygan County
Pine Lake, Waukesha County
Max Lake, Stormy Lake, Smokey Lake, Black Oak Lake, North Twin Lake, Aurora Lake, Little John Lake and Vista Lake in Vilas County.
Source: Selected by Wisconsin DNR lake experts. 
 
Wisconsin’s Murkiest Lakes

Tainter Lake, Dunn County (0.6 feet of visibility)
Fox Lake, Dodge County (0.83 feet)
Beaver Dam, Dodge County (1.08 feet)
Round Lake, Chippewa County (1.40 feet)
Mason Lake, Adams County (1.50 feet)
Petenwell Lake, Adams County (1.50 feet)
Park Lake, Columbia County (1.50 feet)
Ludden Lake, Iowa County (1.50 feet)
Lake Tomah, Monroe County (1.50 feet)
Dexter Lake, Wood County (1.50 feet)
Source: Based on July-August water clarity data provided by the UW-Extension Lakes Program. 


Wisconsin’s Biggest Lakes
  
1. Lake Winnebago, Fond du Lac County, among others, 137,708 acres.
2. Petenwell Lake, Adams/Wood counties, 23,040 acres (The state’s largest man-made lake was created in 1948 by damming the Wisconsin River at Neceda.)
3. Chippewa Lake (part of the Chippewa Flowage), Sawyer County, 15,300 acres.
4. Poygan Lake, Winnebago County, 14,102 acres.
5. Castle Rock Flowage, Juneau County, 13,955 acres.
Source: Wisconsin DNR, Wisconsin lakes inventory.
 
Wisconsin’s Deepest Lakes

1.Lake Wazee, the former Jackson County iron mine quarry, 350 feet.
2.Green Lake, Green Lake County, 236 feet.
3.Redgranite Quarry, Waushara County, 163 feet.
4.Lake Geneva, Walworth County, 135 feet.
5. Lohrville Quarry, Waushara County,120 feet.
Source: Wisconsin DNR, Wisconsin lakes inventory.
 
Most Popular Lake Names

Mud Lake, 116
Bass Lake, 82
Long Lake, 59
Spring Lake, 45
Lost Lake, 42
Source: Wisconsin DNR  

Top Ten Public Enemies

1. Eurasian Water Milfoil, 479 lakes affected
2. Rusty Crawfish, 456 lakes
3. Curly Pondweed, 307 lakes
4. Chinese Mystery Snail, 217 lakes
5. Zebra Mussels, 121 lakes
6. Banded Mystery Snail, 105 lakes
7. Hybrid Milfoil, 28 lakes
8. Rainbow Smelt, 21 lakes
9. Spiny Water flea, 7 lakes
10. Japanese Mystery Snail, 3 lakes
Source: Wisconsin DNR inventory  

Wisconsin Lakes’s Top Ten Fishing Spots

Wisconsin ranks No. 2 nationally in the number of days of fishing by nonresidents and the number of nonresident anglers – nearly 400,000. Only Florida ranks higher – and it has an ocean! Some 1.4 million licensed anglers fished Wisconsin waters in 2010, catching an estimated 88 million fish. The most frequently caught were: panfish, bass, walleye, northern pike, trout, catfish and muskie. In all, 165 species are found in the state. 

1. Chippewa Flowage, Hayward: One of the largest lakes in the state, known for its muskie fishing.
2. Lake Winnebago, Oshkosh: Wisconsin’s largest lake is known nationwide for its tremendous walleye fishery and winter sturgeon spearing season.
3. Lake Poygan, Winneconne Lake and Lake Butte des Morts, Oshkosh: Connected to Lake Winnebago, these lakes have quality walleye and bass.
4. Petenwell Flowage, Wisconsin Rapids: Part of the Wisconsin River system, the area is known for its muskie fishing.
5. Eagle River Chain, Eagle River: Part of the world’s largest chain of lakes (in number of lakes), this popular destination is known for its diverse fishery, which includes muskie and walleye.
6. Mississippi River (all of Wisconsin that borders it): A diverse and robust fishery holding hundreds of species of fish, most notably bass and walleye.
7. Green Bay (part of Lake Michigan), Green Bay: Known nationwide for its trophy-sized walleye and up-and-coming trophy muskie fishery.
8. Chequamegon Bay, Ashland: One of Lake Superior’s premier areas for smallmouth bass, the bay also holds salmon, trout and walleye.
9. Shawano Lake, Shawano: A great lake for bass, walleye and muskie.
10. Three Lakes Chain, Three Lakes: A very diverse fishery featuring walleye, bass and muskie, with numerous trophy fish of all species.
Source: Information from the U.S. Fish and Wildlife Survey and the American Sportfishing Association. Top ten picks by Steve Swierczynski, research director for Rhinelander- based Fishing Hot Spots Inc.  
 
Wisconsin’s Best Swimming Spots

What makes a great swimming hole? A sandy beach, a hard-bottom lake with clear water and public access. We asked local officials and DNR lakes experts to help us indentify the best in each county (listed geographically):

Southeast Milwaukee County: Upper Kelly Lake
Waukesha County: Pretty Lake, Silver Lake and Ottawa Lake
Waukesha-Jefferson County: Golden Lake
Washington County: Eastern bays of Big Cedar Lake, Erler Lake, Little Cedar Lake, Pike Lake and Silver Lake
Racine County: Browns Lake
Kenosha County: Lily Lake, Powers Lake and Silver Lake
Walworth County: Rock and Pleasant Lakes and Big Foot Beach on Lake Geneva
North and Northeast
Vilas County: Silver Lake Beach and Park, Little Star Lake Park and Beach, Crystal Lake Park and Beach, and Black Oak Lake Park and Beach
Oneida County: Two Sisters Lake, Clear Lake, Sugar Camp Lake, Lake Minocqua and Buck Lake
Marinette County: Lake Noquebay and Timms Lake
Oconto County: Boot Lake and Bass Lake
Langlade County:Jack Lake and Summit Lake
Lincoln County: Pesobic Lake, Tug Lake, Bass Lake and Seven Island Lake
Door County: ClarkLake

North Central

Waushara County: Little Silver Lake
Waupaca County: Shadow Lake
Portage County: Sunset Lake
Jackson County: Wazee Lake
Wood County: Lake Wazeecha
Adams County: Jordan Lake, Crooked Lake, Wolf Lake, Parker Lake and Deep Lake Marquette County: Pleasant Lake
Columbia County: Silver Lake in Portage

East Central

Sheboygan County: Crystal Lake and Elkhart Lake
Fond du Lac County: Mauthe Lake and Wolf Lake
Winnebago County: Lake Winneconne and Lake Winnebago
Southwest
Bayfield County: Twin Bear Lake and Lake Owen
Douglas County: Lake Nebagamon and Dowling Lake
Burnett County: Devils Lake
Washburn County: Shell Lake
Sawyer County: Round Lake
Barron County: Silver Lake
Polk County: Balsam Lake
Chippewa County: Round Lake in Samson
Price County: Elk Lake and Solberg Lake
Taylor County: Sackett Lake

If you are thinking about buying waterfront property in Wisconsin,  A little time invested in learning about waterfront living will pay back sizable dividends in matching your expectations to the realities.

Click here to find out more about WISCONSIN LAKE PROPERTY

If you are thinking about buying waterfront property in the Lake Country of Waukesha County in Wisconsin call LISA BEAR – REAL ESTATE IN WAUKESHA COUNTY!

Importance of the Appraisal

Importance of the Appraisal

Over the past 5 years many areas in the country have seen sharp declines in home values. Thankfully, that trend is starting to reverse. For this reason, most lenders are placing a lot of scrutiny on an appraisal for people considering a refinance. The appraisal is designed to ensure that the value assigned to the home matches the local market.

Basic Definition

The definition of an appraisal is that it represents the market price of a home. This is the estimated price which a seller and buyer would agree upon in a arm’s length sale. Arm’s length means the buyer and seller are not related to one another and undertaking the transaction on their own free will.

Each Home is Unique

Although two homes may sit beside each other in the same neighborhood, they could be vastly different. One may have a basement while the other is built on a concrete slab. One home may have a swimming pool and the other home may not have a yard big enough for a large car. An appraiser will look at the subject home and take down lots of notes about the size and features of similar homes in the area. The important key is that the subject home is compared to similar homes that have recently sold, usually in the last 6 months. This indicates what the market will bear for that kind of home in that same area.

Total Report

Once the appraisal is complete, the appraiser will compile a report and submit it to the lender. This report will have notes about the home’s location, general comments about the area and the detailed info about the home. Items like original build date, square footage and location of the home on a map will be listed. In addition, the other homes used in the appraisal, known as comparable sales, will be listed in detail on the map and in the final report.


For additional information, visit our refinance page on our main site or view our current mortgage rates. To see if you qualify, contact me below or apply online!
by Aiman Abozeid

Welcome to Wisconsin Real Estate with Lisa Bear

Thank you for visiting.  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 if you are a buyer. My real estate focus in the  Waukesha County, Milwaukee County, Lake Country, Jefferson County, Dodge County and Washington County areas.  I have my IRES designation (International Real Estate Specialist) so I can assist you with all your real estate needs in Wisconsin, the USA or anywhere in the WORLD!

When you are seriously looking or just browsing at real estate in Wisconsin, I am a great resource to help you with all your needs and questions, whether a first time home buyer, relocating to or from the beautiful LAKE COUNTRY area, looking to invest or explore foreclosure opportunities or just thinking ahead to the future.

Lisa Bear of RE/MAX (262-893-5555) is an experienced real estate agent in Waukesha County and the entire Milwaukee Metro area including:

The prospering communities of Waukesha County including Delafield, Waukesha, Oconomowoc, Pewaukee, Waukesha, Sussex, Wales, New Berlin, Dousman, North Prairie, Mukwonago, Chenequa, Menomonee Falls, Brookfield, Elm Grove, Okauchee, Eagle, Muskego and Merton.

Great municipalities in Milwaukee County including Milwaukee, South Milwaukee
, Wauwatosa, Hales Corners, Greenfield, Glendale, Franklin, Bayside, Brown Deer, Cudahy, Fox Point, Greendale, Shorewood, Oak Creek, St. Francis, West Allis and Whitefish Bay.

The hometown favorites of Washington County, Jefferson County and Dodge County including Watertown, Hartford, West Bend, Germantown, Jackson, Richfield, Ashippun, Lake Mills, Jefferson, Johnson Creek, Slinger and Erin.

Real Estate in Wisconsin is an excellent investment!
 

 "HELPING YOU MOVE IN THE RIGHT DIRECTION"

Where Are Rents Headed?

Where Are Rents Headed?

 Where Are Rents Headed?

Where Are Rents Headed?

Posted: 13 Nov 2012 04:00 AM PST

When deciding whether or not to buy a home, one consideration will be the cost of alternative housing options. Renting an apartment is one such alternative. Where are rental prices heading over the next few years?
Rental prices usually increase by about 3 percent annually. Trulia just released their Trulia Rent Monitor where they revealed that rental prices have increased dramatically in the last year.

“Nationally, rent gains continued to outpace home price increases in October, rising by 5.1 percent.”

Based on the concept of supply and demand, we believe rental prices will continue to substantially increase over the next few years. The long-run 30-year average increase in rental households is 200,000 each year. Over the next few years, those numbers will more than double to over 500,000 each year. Freddie Mac in their latest report, Multifamily Research Perspectives, projects housing demand going forward.

“Given assumptions consistent with economic growth slightly slower than long run averages, multifamily demand is likely to be in the range of 1.7 million net new renter households between now and 2015.”

The cost of owning a home will begin to increase as both prices and mortgage rates are expected to inch up in 2013. Perhaps now is the perfect time to lock in your long term housing expense by purchasing your own home.

FHA, VA and Rural Housing Loans

FHA, VA and Rural Housing Loans

FHA, VA and Rural Housing Loans

by Aiman Abozeid 

FHA, VA and Rural Housing Loans in Wisconsin 

No down payment home loans enable those who have not been able to save for a down payment to realize the dream of home ownership. We offer two mortgage programs still available with no money down 100% financing and a third that only requires 3.5% down for all Wisconsin residents:

• FHA Loans (requires 3.5% down)
• VA Home Loans
• USDA Rural Housing Loans

FHA Loans:
FHA loans are federally insured loans that allow buyers who have little or no credit history, coupled with limited funds available for down payment, to obtain a mortgage with a great interest rate and low monthly payments. FHA home loans are also available for first time buyers. FHA Loans are assumable and streamline refinancing to lower the interest rate is available.

VA Loans:
VA loans continue to be eligible for 100% financing, of course only those few borrowers with a VA Certificate of Eligibility are able to qualify for this loan. In addition to no down payment, VA home loans have the added benefit of not requiring PMI or private mortgage insurance. VA mortgage loans are guaranteed by The Department of Veterans Affairs, but are made by private lenders to eligible veterans for the purchase of a home. VA loans offer up to 100% financing on the value of a home.

Rural Housing Loans:
Rural home loans are optimal for first time homeowners in approved Rural Housing Service areas. USDA rural housing loan programs allow qualified homebuyers to get loans with minimal closing costs and no down payment. The purpose of this loan program is to enable eligible low and moderate income (up to 115 percent of the Area Median Family Income) rural residents to acquire modestly priced housing for their own use as a primary residence. The Guarantee Rural Housing Loans also have flexible credit standards, expanded qualifying ratios, no maximum purchase price limits and generous income limits. Closing costs, prepaids and lender required repairs can be rolled into the loan amount up to 100% of the appraised value (not the purchase price).

A no money down mortgage loan is an excellent choice for a home buyer, who may not have enough money for the standard 20% down payment.

Visit our website at http://www.madisonmortgageguys.com for additional No money down FHA, VA and Rural Housing loan program information.

Old Collection Accounts Can be Ignored When Applying for FHA Mortgage


Old Collection Accounts Can be Ignored When Applying for FHA Mortgage

Old Collection Accounts Can be Ignored When Applying for FHA Mortgage

by Aiman Abozeid on November 9, 2012 · 0 comments

Some borrowers have re-established their credit and are making the right moves to prepare themselves for a home purchase. At one time, these people would be held back from buying a home due to old collection accounts appearing on their credit report. However, that issue has been resolved for FHA loans.

Old Rule
The FHA rule stated that if a borrower had a collection account, or a disputed account, with a balance of more than $1,000 then the person could not be approved for an FHA loan. This was a death blow to many borrowers who had fallen on hard times and wound up with a few bad accounts or had suffered through some medical problems.

In order to be eligible for FHA financing the debt had to be paid off completely or the borrower had to arrange a payment plan with the creditor. Often times the new debt payment would negatively impact debt to income ratios for the borrower and eliminate them from FHA consideration.

New Rule
Now, this rule has been rescinded. In April of 2012 it was proposed to remove the rule but then delayed. Mortgage lenders, real estate agents and other interested parties pleaded with FHA to put the rule in place. Finally, in June of 2012 the administrators of FHA agreed to take the rule off the books.

This is great news for many potential borrowers. People that have made strides to pay their bills on time, reduce their credit card debt and maintain a stable employment history for the past 2 years now have even more reason to seek out an FHA mortgage for their home purchase.

View our FHA Loan program page for additional information. If your house needs rehab work, be sure to check out the FHA 203k program. To see if you qualify, contact me below or apply online!