Archive for tag Real estate market
December 21, 2011 at 12:24 AM · Posted under Area Attractions & Events, Pat Tasker
For the past 39 years, the downtown M&I Bank has had a great Christmas display which attracts both young and old. Each year, there is a new theme, but the main characters stay the same. The characters are the centerpiece of the display, and they are life-size stuffed animals, made by the world famous Steiff Company in Germany. The brand trademark is the button in the ear of each animal.
The display originally started when the marketing director for the bank went to New York City. He visited FAO Schwartz and bought a few animals for a holiday display at the bank, and it grew from there. Today there are almost 50 animals that get new clothes and new looks each year.
This year's "It's Toy Time," brings a life-size workshop to the bank lobby, with animals carving nutcrackers, stuffing teddy bears and making all kinds of toys.
In February each year, the bank president chooses the theme and the staff get to work designing the set, the costumes and carrying out the plan. The weekend of Thanksgiving, 50 or so employees work the entire weekend setting up the display.
This display has become a tradition for many. Grandparents and grandkids, teachers and students come to look, then years later come back with the next generation! Many families take their holiday photo here, or stop before a performance of the Nutcracker or Christmas Carol
When I heard that M&I Bank was bought by BMO Harris, I couldn't help but wonder what would happen to this display. So happy to hear that BMO Harris embraced the tradition and even sweetened the attraction by donating $5 for each visitor who strolls the lobby to view the animal fun. The Hunger Task Force will certainly welcome that donation this year! Will you have a chance to visit the bank and enjoy this holiday treat? I will be taking my grandkids on Christmas Eve! They have great holiday hours! December 1st through January 5th recurring daily. Hours: 9 a.m. to 8 p.m. weekdays and from 9 a.m. to 4 p.m. weekends, Christmas, and New Year's Day. The display will be closed after 1 p.m. on Saturday, December 17th and Saturday, December 24th; and at 5 p.m. on Thursday, January 5th.
Posted by: 
Pat Tasker
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November 14, 2011 at 06:34 AM · Posted under Colleen Kuchta
We see houses with wallpaper every day. Sometimes it is as simple as a border in a room, and other times it is the whole house. Does having wallpaper hurt your chances of receiving an offer? Couldn't the Buyer just write a contingency into their offer asking the Seller to remove it? Or better yet, won't most Buyers love the wallpaper just as much as the Seller?
Most Sellers love the wallpaper on their walls, and do not want to have it removed. Why should they remove something that has brought them so much joy? Their house won't be as attractive without the wallpaper. What if they don't receive any offers? They will have taken down the wallpaper for no reason. Their thought process tells them that the new owners can simply remove it after the closing.
The Buyers think differently. Why should they bother asking the Seller to remove the wallpaper when there are a 100 other houses out there to chose from? What if the Seller will not take the wallpaper down, how many layers of the stuff are underneath? What if they buy this house and start taking off the wallpaper & discover it wasn't applied correctly, or it is very old and comes off in tiny little pieces? They see the wallpaper and cross that house off of their list.
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Here is our suggestion: Take the wallpaper down! If you do not want to do it yourself, there are professionals that will do it for you. One of our Sellers recently had her friends come and help remove wallpaper from the dining room & kitchen - it took less than 24 hours to remove the wallpaper and paint the space. Another Seller hired a man to remove six rooms of wallpaper and paint afterward. The project took four days and the walls look great! If you still aren't sure about taking it down, ask your Realtor to be honest and not worry about your feelings. Most of us would agree that the wallpaper has to go.
The Kuchta's, Kelly & Colleen
Posted by: 
Colleen Kuchta
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October 28, 2011 at 08:58 AM · Posted under Colleen Kuchta
Every single number counts when it comes to your credit score. Picture this: you've spent countless hours searching for the perfect house. You searched online, attended countless open houses, got pre-qualified for a mortgage and hired an agent to show you houses and then represent and guide you through the process of buying a home. After viewing over two dozen properties, you wrote an offer and came to terms with the seller. You paid your earnest money, met your inspection and testing contingencies and even had your appraisal come back just above the purchase price. You have been paying your bills on time to keep your credit from heading south. Your closing is scheduled, and you think everything is smooth sailing from here on out. Today is the day before closing and you receive a phone call from your lender - it's the worst news possible - you no longer qualify for the mortgage. The house that you've spent countless hours preparing for will not be yours tomorrow. "What happened, why don’t I qualify?" you ask in disbelief. The response is simple. Your credit score dropped.
When your mortgage lender issues you a pre-qualification, one of the determining factors is your credit score. With the tighter lending regulations, your credit score needs to be a minimum 640 to qualify. Many times, buyers are pre-qualified, but are within two or three points of not qualifying. An easy way for your score to drop would be opening a line of credit at an appliance or furniture store. Another thing to remember is getting a new credit card can also lower your score. Next time you are checking out, and the clerk asks if you would like to save money be opening a store credit card, your answer should be, "No thank you." Both of these occurrences will require a credit check, and a credit check will lower your credit score. Buying furniture or appliances before you close on your new house might make sense, but it will lower your score and could affect your debt to income ratio.
So remember, if you want to make it to the closing table, pay your bills on time, don't get any new credit cards and definitely wait until after your closing to buy new furniture or appliances on credit! It would be a shame to go through the whole process of buying a new home, and then end up homeless! If you are looking for someone to help guide you through the buying process, we can help.
The Kuchta's, Kelly & Colleen
Posted by: Colleen Kuchta
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July 19, 2011 at 06:34 AM · Posted under Lisa Rossetto-Glowacki
What will happen to home prices? Should you sell now or later? Here are a few opinions from various analysts:
Posted by: 
Lisa Rossetto
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July 10, 2011 at 07:00 PM · Posted under Area Attractions & Events, Lisa Rossetto-Glowacki
Starting to gather ideas on a kitchen or bath redo? Combine a day trip or weekend getaway with the expierence of soaking up inspirational ideas at the American Club, where you will find both the Kohler Design Center and Ann Saks Tile.
Designers on staff, endless possibilities and beautiful products will spur your imagination and lend inspriation to your dream! Remember to keep the new design in line with the style of your home. In other words, a sleek, modern stainless and granite kitchen may not look appropriate in a stately tutor built in the 20's.
Purchase materials that reflect the value of your home, i.e., cabinets, faucets and counters from the "big box home store" won't add much to the resale value of a home in the upper end of the market and are best saved for properties valued at lower price ranges.
Purchase the highest quality materials you can afford. Why? The labor cost to install a tile costing $1.00 is usually the same a tile costing $20.00. Remodel by the motto, "Quality is zlways remembered long after price has been forgotten."
Happy remodeling!
Posted by: Lisa Rossetto
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June 30, 2011 at 07:00 PM · Posted under Colleen Kuchta
While our local Real Estate Market may not be that bad, to some sellers it is beginning to feel that way. Looking at days on market for listings in our area, it is not uncommon to see that number over 180 days. On the bright side, houses are still selling. But which houses are selling? The houses that are marketed at an inspiring price are receiving offers.
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Is price really that important? As Realtors, we talk quite a bit about price. We counsel our buyers and we counsel our sellers. We know from experience that most buyers cannot be persuaded to submit an offer, no matter how perfect your house is, if it is overpriced by even $5,000. We know that you are probably tired of hearing about price, but if you aren't priced correctly you will miss a great opportunity to sell your property for top dollar.
Here's why: The 'ROBO-SIGING' mess has been cleaned up, and many banks are now ready to begin liquidating the properties that have been foreclosed. Over the next 90 days there will be an increase in foreclosures coming to market. While there may not be a large number of homes just like yours in the mix, they will affect home values and the bank appraisal, once an offer is received. Currently the law states, if 20% of area sales are foreclosures or short sales, they must be used as comparables in an appraisal. So, if 10 houses sold in your market area, and 2 of those properties were either a short sale or foreclosure (distressed sale), then when you get an accepted offer the bank appraiser will be required to use distressed sales to determine the value of your property.
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A non-distressed property will sell for 100% of its value, short sales are selling for about 90%, and foreclosures typically sell for 64.9% of their value. This is important to know because these reduced values could be used to determine the value of your home in the coming months.
Our advice to you - if you want to sell, sell now! Make sure your house is in tip-top shape and look at your price with a stern eye. If an adjustment is needed - make it now! That way you will have a better chance of reaching your goal, and moving on to the next stage of your life. If you are not sure where to start, call us, we are here to help!
The Kuchta’s, Kelly & Colleen
Posted by: Colleen Kuchta
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June 17, 2011 at 10:32 AM · Posted under Colleen Kuchta
Have you been wondering, when would it be a good time to buy a new home? Well, how about now?! The Wall Street Journal thinks this is the perfect time to buy. Among the reasons are Affordability and Employment. The cost of buying a home is down, interest rates are at 4.5% or below, and prices are low! Employment is up, Wisconsin's unemployment rate is at 7.4% - that's below the National Average of 9.1%.
Now is the time to buy, but don't take my word for it. Forbes Magazine told it's readers on 6/3/11 that this opportunity won't last forever. If you want to save money, now is the time!
National Public Radio (NPR) feels the same way! They announced that anyone planning on settling in for five years should get out and buy a house. NPR has nothing to gain by in their testimony, the are just pointing out the obvious - in case you missed it!
Now is the time to buy, but that isn't coming from a Realtor. CBS Money Watch told it's followers that this is a once in a lifetime chance to buy a house in these conditions. What conditions? Well, prices are historically low, and mortgage interest rates are too!
So, to re-cap, NOW is the time to buy! If you don't know where to begin, start by getting pre-qualified for a mortgage. After that, contact us!
The Kuchta's - Kelly & Colleen
Posted by: Colleen Kuchta
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April 19, 2011 at 02:24 AM · Posted under Colleen Kuchta
By now, you may have heard the term Short Sale. It is a term used in the news and real estate quite often. But what does it mean? Simply put, a Short Sale is a real estate transaction where the home owner owes their lender more money than they will net on the sale of their property. They will be short of funds to satisfy their mortgage. Because you cannot transfer the property to a new owner without paying the current mortgage, the lender must agree to take less money than they are owed. The seller is short in paying their mortgage, and that is where the term Short Sale comes from.
Short Sales can be a great way for a buyer to get a home for a lower price. The main problem regarding a property that is in a Short Sale position is time. There are quite a few items that the seller's lender will require before they agree to take the loss. Once all of the items are in the lender's possession, the file is sent through a review process. This process can take 30-45 days, or more. If a buyer is not pressed to make a quick move, a Short Sale can be worth their time.
If you are looking to make a move, and would like more information on Short Sales, please feel free to call or email us. We are trained in Short Sales and Foreclosures, and we are here to help!
The Kuchta's, Kelly & Colleen 414-651-1613 or 262-894-6512.
Posted by: Colleen Kuchta
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March 14, 2011 at 09:01 AM · Posted under Colleen Kuchta
Congratulations! You have found a home to call your own, and are ready to draft an offer. Along with that decision, many times, you have the fear of the unknown. Relax, take a deep breath, and read on. If you understand the steps involved, buying a home will not feel so overwhelming.
Step 1: Research and planning
Many times, the home you have selected is a favorite of other buyers as well. That is why you need to have an Accredited Buyer's Representative on your side. As ABR agents, Kelly and I assist our buyers by counseling our clients on market conditions, price ranges, comparable properties and appropriate negotiating strategies.
Step 2: Submit an offer
Real estate transactions require a written contract, also known as an Offer to Purchase. In your offer, you will specify price and all of the terms and conditions you want to negotiate for. As ABR agents, we sit down with you and draft the strongest possible offer with your best interests in mind.
Step 3: The seller's response
When the seller receives your offer, their options are: ACCEPT or REJECT. If the Seller reviews your offer, and decides that the terms of the offer are acceptable, they will sign in acceptance. Once the signed offer is delivered back, you will have an binding contract. If the seller rejects your offer, it becomes null and void. The seller cannot change their mind at a later time. A new offer would need to be drafted.
COUNTEROFFER. Many times the seller is pleased with many aspects of your offer, but would like to negotiate on a specific term, such as price or closing date. At this time, they would submit a counteroffer to request the change. Both parties are able to submit counteroffers back and forth until both parties have agreed, and signed the most recent counteroffer. Once the counteroffer is signed by all parties, and delivered back, you have a binding contract.
Buying a new home doesn't have to be a stressful experience. As ABR agents, we do our best to educate you, arm you with the facts and keep your best interest in mind. If you are thinking of making a move into a new home, contact us!
The Kuchta's, Kelly & Colleen
thekuchtas.shorewest.com
Posted by: Colleen Kuchta
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March 09, 2011 at 01:09 AM · Posted under Lisa Rossetto-Glowacki
Yes! Here's an opportunity to build in The Arbors of Delafield, a prestigious subdivision located in Arrowhead school district. Purchase the lot, choose your own builder or begin building before end of 2012 with Classic Homes and receive a certificate for 10% construction discount! Check it out here.
Posted by: Lisa Rossetto
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March 02, 2011 at 09:33 AM · Posted under Lisa Rossetto-Glowacki
We often point out that a buyer should be more concerned about the COST of a home rather than the PRICE. Price obviously is a component of cost. However, unless you buy all-cash, you must also be concerned about the financing of the purchase. The price and the financing together determine the cost of a home. Today, we want to look at only the financing piece.
An opportunity exists today because of recent government involvement-- an opportunity that may never again be available in our lifetimes. There has been much discussion about what role the federal government should have in supporting homeownership. We will leave our opinions on the debate for another time. However, we want to alert you to two advantages available to a purchaser today that may disappear in the future: historically low interest rates and the ability to lock in these rates for thirty years
Interest Rates
Because of the financial crisis, the government stepped in and instituted a series of programs, which pushed mortgage interest rates to historic lows. If we look at 30-year mortgage interest rates before and after government intervention we see the impact these programs had.
According to Freddie Mac, from 2006 to the start of the financial crisis (the fall of 2008), the average rate was 6.29%. Since then, the average rate has been 4.92%.
A purchaser can still get a 30-year fixed rate mortgage at approximately 5%. However, interest rates this low may soon disappear. The government has questioned its role in supporting homeownership. In the administration’s REFORMING AMERICA’S HOUSING FINANCE MARKET: A REPORT TO CONGRESS, they are very strong in voicing their thoughts on this issue.
Our plan also dramatically transforms the role of government in the housing market. In the past, the government’s financial and tax policies encouraged housing purchases and real estate investment over other sectors of our economy, and ultimately left taxpayers responsible for much of the risk incurred by a poorly supervised housing finance market.
Going forward, the government’s primary role should be limited to robust oversight and consumer protection, targeted assistance for low and moderate income homeowners and renters, and carefully designed support for market stability and crisis response…
Under our plan, private markets will be the primary source of mortgage credit and bear the burden for losses.
What are the probable results of this decision?
The Royal Bank of Scotland: “The (government) currently provides 95% of housing finance in the U.S.; any reductions of their involvement in supporting mortgages mean interest rates will have to go up to induce private lending.”
AnnaMaria Andriotis, writer for Market Watch: “In the proposals were changes that will mean more expensive mortgages, with higher fees and, probably, higher interest rates, larger down payments and, in the near term, fewer lenders to choose from.”
The day of a 5% rate seems to be coming to an end.
Locking in a rate for thirty years
We must also realize that having the ability to lock-in a rate for 30 years may soon be a thing of the past.
There are a growing number of people who think that our mortgage industry should imitate those of other industrial countries around the world. If we do start limiting government support for the mortgage process, the 30-year fixed rate mortgage may disappear. Other countries, like Canada, only allow a purchaser to lock in a rate for a five year term. After that, the borrower must renegotiate a new mortgage at current rates. Could that happen here?
Mark Zandi, Chief Economist of Moody’s Economics.com addressing the administration’s recent report: “A private system would likely mean the end of the 30-year fixed-rate mortgage as a mainstay of U.S. housing finance. A privatized U.S. market would come to resemble overseas markets, primarily offering adjustable-rate mortgages. Based on the experience overseas, the fixed-rate share in the U.S. would decline to an average of between 10% and 20% of the mortgage market compared with a historical average of closer to 75%.”
Bottom Line
The COST of a home is dramatically impacted by the mortgage component. Today, we can get a 5% mortgage and lock it in at 5% for the next thirty years! Both of these opportunities may disappear in the near future. You should take this into consideration if you’re looking to purchase a home
Posted by: Lisa Rossetto
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April 16, 2009 at 11:38 AM · Posted under Colleen Kuchta
Although the news is full of gloom and doom stories about the Real Estate market, I am here to tell you that it does not need to take months of waiting to sell your home. The Kuchta’s, Kelly & Colleen, recently listed a 3 bedroom, split ranch home, in the Spaeth Farms subdivision, of Hartford. We received an offer within 13 days of being listed. Sellers were thrilled! They didn’t even need to counter. How is this possible?
Simple, when we researched the area, we looked at recent solds AND current active properties. We carefully looked into the history of each property to see where they started with their pricing, as well as, any price reductions that were done along the way. We put all of that information into our market analysis and our sellers were able to fully understand the way sales were trending in their local market. They chose a price that would let the buyers know they were marketing their home realistically - 13 days later, they had an offer.
Want results like this? Contact The Kuchta’s - Kelly & Colleen at
262-894-6512 or at ckuchta@shorewest.com.
Posted By:
Colleen Kuchta
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