Colleen Kuchta
September 28, 2010 at 11:31 AM · Posted under Colleen Kuchta
As Realtors®, we talk a lot about the financial benefits of home ownership. We all know that there are tax breaks. But what other reasons are there for owning versus renting? I asked around, and here are the top answers that I received:
1) each monthly payment is tied to something you own
2) when you move out of a rental, you might get your security deposit back, but nothing more
3) owning your own home offers stability, you know the landlord is not going to sell the building out from under you
4) you are free to make physical changes and customize things to fit your needs and lifestyle
5) you can get a dog or cat (some rentals allow pets, while others don’t)
6) you can put up a fence
7) you don’t have to feel bad when young children are running through the house
8) a house offers more opportunity to entertain family & friends
9) your house is the place where you come home at night
10) a home is where your child learned to walk, where the teenagers hang out, where your grandkids visit, where Thanksgiving dinner is shared, where the Super Bowl party is held -it is filled with memories and love
For us, the financial benefits of homeownership are a no-brainer. But the real benefits are listed above, especially being able to fill our home with memories and love. As a Buyer’s agent I can help the transition to homeownership as smooth as possible. Call me, at 262-894-6512, or .
We are here to help! The Kuchta’s Kelly & Colleen
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Colleen Kuchta
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September 16, 2010 at 03:16 PM · Posted under Colleen Kuchta
I am writing this today to let you know that short sales are not always the nightmare we perceive them to be. We recently had a terrific short sale experience. We listed a property in Menomonee Falls at the price the market analysis suggested. After a short time, and several showings, it became obvious that the price needed to be reduced. With the sellers approval, we set the price to reduce at certain dates until an offer was received.
On July 14, 2010 we received an Offer to Purchase which our seller accepted. The count down began immediately! We had already gathered the items that Bank of America would require as part of the short sale package, so I sent them in with the offer. Our stage one negotiator was easily accessible via email, so I sent an introduction email letting her know who I was, and that I was happy that we were going to be working together. On August 5, 2010 we received the approval to move into stage two. Our request for a short sale was approved, but now the offer needed to be scrutinized before final approval could be issued.
Our stage two negotiator was assigned within two days. Again I sent out an introduction email similar to the one I sent to our first negotiator. There were a few papers to be signed by my seller, and more information was requested at this point. We knew that we needed to hustle to avoid a delay, so everything was submitted the very next day. On August 14, 2010 our Bank of America negotiator sent the approval with a September 13, 2010 close date. Our seller would be able to avoid a foreclosure!
Things did not get easier from here. As part of the approval we needed to get the buyer’s lender to provide a final HUD to Bank of America no later than 5 business days prior to closing. This would be no easy feat - recent changes in lending laws have been causing delays. Often times, approval isn’t issued until the day prior to closing. We needed everything in stone by September 3rd! Luckily, the buyer’s lender was on top of things. We sent our final HUD to Bank of America on September 3rd, and on September 9th we were told that Bank of America would also be willing to pay the special assessments and the outstanding water and sewer bill. Wow! We made the changes to the HUD and on Saturday, September 11th, we received our closing instructions. We could proceed to close on Monday, September 13th.
This short sale experience was most definitely a positive one. At the closing table on Monday, September 13th, my seller gave me a huge hug. She was so relieved that this part of her life could be put behind her. The quick approval and smooth process gave her a chance to move forward. We were truly honored to be able to help.
Remember, not all short sales are alike, and not everyone qualifies for a short sale. You need to select the listing agent that is willing to go the extra mile to ensure documents are sent on time, the line of communication stays open, and is willing to put in the time it takes to see the process through. This was a very quick turnaround, and that is not common. But, if there were a longer wait, we would have made sure to adjust to the situation. Kelly & I are fully trained in short sales and foreclosures, and have experience in handling both. Don’t you deserve an agent that can get the job done? Contact us today, and we will do all that we can to get you a brighter tomorrow. We are easily accessible by phone or email, just click on our names to access our website for our contact information! The Kuchta’s, Kelly & Colleen
Posted by: Colleen Kuchta
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September 13, 2010 at 01:05 AM · Posted under Colleen Kuchta
Let’s face it, the current Real Estate market is not exactly booming. But does that mean that people should stop buying houses? Absolutely not! Even though much of what we see in the media shows that sales are in the negative in comparison to last year, that simply means we need to look at why.
As Realtors, Kelly & I knew this was going to happen. The tax credit spurred many people to buy homes that otherwise would have waited. Those buyers knew they would have been foolish to pass up their chance at a $6,000 or $8,000 tax credit. So, when we compare this years sales to last years sales, there is no doubt 2009 figures will be higher.
Some might argue that Real Estate’s return on investment is not as high as it was earlier this decade. Please remember, that the only reason things got out of hand is because the delicate balance of supply & demand was off, which allowed real estate values to increase by up to 20%. The sudden, high demand for Real Estate only lasted a short time in the Milwaukee market - about 18 months. Real estate has always been, and remains today, a long term investment. Get rich quick schemes rarely work, and the same holds true in real estate.
Putting those buyers who bought at the peak of the market aside, most homeowners are still getting a reasonable increase in value on their home. A buyer who purchased a home in 2003 for the average sale price of $210,000 would realize a 5.1% gain on their purchase if they sold it for $220,710 today. That sounds a-lot better than the zero dollars someone who is renting would get after 7 years!
Don’t forget, the housing market is in recovery right now. We didn’t get ourselves into this position overnight, so we cannot look for a quick fix to make things all better. We buy houses to live in, to make memories in, and to fill with love. We don’t buy houses to make a quick buck. So, don’t panic, buy that new house if you are able - then fill it with love and memories in the years to come. That’s what we are doing!
The Kuchta’s- Kelly & Colleen
Posted by: Colleen Kuchta
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September 01, 2010 at 11:44 AM · Posted under Colleen Kuchta
If you are one of the thousands of home sellers out there trying to get a nibble, you are not alone. In fact, if you are in Milwaukee County, there are 4,491 homes competing for a buyer. Washington County has 1,019 available homes, and Waukesha County boasts 2,837 homes looking for a new family. So, getting a buyer to like your home more than all of the rest is no easy task.
Here are a few helpful tips:
* Understand that unemployment and the struggling economy has all but destroyed consumer confidence.
* Realize that today’s buyer has plenty of homes to chose from. These buyers are only interested in the home THEY consider priced correctly.
* Know that the economic situation will take some time to correct. It will probably take 5-7 years before we see 2006 pricing.
* Prioritize your needs over wants. Take an honest look at the reason you decided to sell in the first place. Is money more important than being closer to family or your health? Or better yet, is money more important than moving on with your life?
In essence, you need to take the emotion out of the equation. If you can take a step back and look at the big picture, chances are, you will have a more pleasing outcome. Don’t forget - we are here to help! The Kuchtas, Kelly & Colleen www.thekuchtas.shorewest.com.
Posted by: Colleen Kuchta
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