Mark Your Calendars NOW!

The Waukesha Rotary Club puts on this great Blues Fest each year and this year the entertainment should be very exciting. Rain or shine the event goes on as planned. There is a big tent that will seat 1,000 so with all the warm weather we have had and no bugs this is a great event to attend. For all the latest information click on the image to the left and you can buy your tickets on-line. Dates are August 10-11th! Mark your calendars now for this outstanding event sponsored by the Rotarian's of Waukesha!




When: August 10-11 2012
Where: Nagawaukee Park off HWY 83
Cost:$15-$35
http://www.waukeshabluesfest.com

What is Earnest Money?

Earnest money is generally provided either with the offer or after the offer is accepted by a seller. The earnest money is held in the listing brokers trust account or an attorneys trust account until the closing. The buyer is credited the earnest money at the closing. This money shows your intent and seriousness in the offer that you tender to the seller. In situations where there are multiple offers I have seen sellers pick an offer, if the terms are mostly the same, based on the earnest money. What a disappointment it is to a buyer who has their heart set on their dream home to lose out because they did not put enough earnest money in the offer. You should consult with your Real Estate professional when drafting your offer to put your best foot forward. Even in this market, buyers may only have one shot at offering their best terms for the home.

A Dose of Zinc May Help Your Roof

Easy to install zinc strips for good "roof health"

Have you ever noticed that on the north side of the roof moss can sometimes grow? Left alone the moss can prematurely wear the roof down. But there is a cure for this roof malady. Recently I met Jim Nelson, from James R. Nelson Remodeling of Nashotah, out at a home in Oconomowoc where he was installing zinc strips on the ridge of the roof. He told me that this was a safer way to remove the moss from a roof. The rain washes the zinc down the roof which kills the moss or offending growth. The installation takes a few minutes and is easier on the shingles than most other products. The strips will take a little longer to arrive at the desired outcome but also keep you off the roof, which is a great advantage.

What About Paint Cans?

Just a few hours and the paint is dried up

Check with your waster hauler for proper disposal

 Several weeks before the closing of your home you will want to consider getting rid of the unwanted paint cans. Unless the buyer requests the old paint for touch-up, the extra cans of paints are considered hazardous material. Since most paint is water-based, disposing of those unwanted colors is easy. First, contact your local municipality to determine their rules for proper disposal. In Oconomowoc, as long as the paint is hard, the waste hauler will take care of it. Veolia Environmental services the greater Lake Country area. For clean-up I purchase large tinfoil roasting pans then fill them with an inexpensive kitty litter. I pour the remaining paint into the pan, stir and in a few hours the paint is hard and can be thrown out in the trash. Take a few moments before the rush of the closing and take care of those extra cans of burnt orange and lavender paint!

Get Unplugged!

Once you hear what buyers say, over and over, about plug-ins, potpourri and scented candles you will want to go unplugged immediately. I was showing a very sharp house not too long ago. The seller obviously had a flair for decorating, the right furniture, colors and accessories, except…the smell. The plug in smell was not overpowering but it was enough to through the buyer off. Rather than focus on the home they wondered aloud if there was a cat in the house (no cat) or if pets had used the carpets (no pets). The point was the seller lost all the energy from the great furniture, excellent color palate and presentation because of the plug ins. It is time to get unplugged when you are selling your home. For all the work you expend to sell your home, don’t lose great opportunities because of a plug-in.

The Heart of the Home

Kitchens are not what they used to be when I was growing up. Back then kitchens were utilitarian spaces. We had our slide in electric ranges, a refrigerator, generally with the freezer on top and Formica counter tops. No one thought about industrial type appliances, granite counters and multiple refrigerators. How the times have changed. Our kitchens have become focal points of the house, rooms to entertain in and show off the latest gadgets. We linger around the island (if we are fortunate enough to have an island). And now with the prevalence of granite we are seeing more modest price ranges include granite as a selling point to attract those elusive buyers. So when choosing granite for this dynamic space what are some ground rules. I learned this from a decorator and substantiated by a kitchen re-modeler that the drama in the kitchen can be either on the top or in the back splash BUT don't do both. If you have a more dramatic granite selection with rich veins choose a more modest back splash design and same goes with the back splash.

What about granite tiles? I think the buyer's opinion on this issue speaks volumes. Depending on the price range granite tiles are non-starters. For a modest price range this will work, but if your home is north of $300,000 and you decide to do granite tiles as a quick update, this does not go over well with the buyer. The last thing you want, as a seller, is the buyer walking out of your home mocking your hard work and investment.

Kitchens offer more than a room to prepare a meal, they tell a whole new story!

A Kitchen Facelift

We made some great changes to this beautiful kitchen with the help of Laurie Flatt from Casa La Bella. The subtle changes added value and pop to this great space. Here was a surprise hint from Laurie:" Don't be afraid to paint the oak cabinets." The island went from stained oak to a rich mushroom color that makes the room. The new counters added the flair that the island needed.

Rain nor sleet nor Relocation??

No wonder stamps cost so much! The US postal service lost big bucks on relocating employees homes even the real big ones...over $1M!! Ouch...

Rainy Christmas Eve in Waukesha County

The Squirrels Never Had a Chance

My wife and I bought this squirrel feeder from Wild Birds Unlimited in Delafield for my parents back yard this Christmas. As you can see the Blue Jay is hogging all the peanuts. The squirrels never had a chance to get their little paws on the goods--poor guys. Dad said that the Blue Jays were lined up to take their respective turns on the wreath. As soon as one left the next flew in for some goodies. In less than 2 hours they had consumed half of this wreath. I hope you had a good Christmas and just enjoyed the fun with family or friends.

This is not Real Estate Related

From time to time it is nice to depart from all things Real Estate. A friend of mine recommended this book, "Stumbling on Happiness" by Daniel Gilbert. I checked our local bookstore Books & Company to obtain my copy. They are not paying me for this endorsement, but I prefer to shop locally, if I can and I really like brick and mortar business'. Besides I figured that if I had waited 3 months to get around to the purchase I could easily wait another day for the book to come in, so I placed my order. I know that is a bunch of useless information but oh well. The book has an interesting premise--What really makes us happy? Or conversely what makes us unhappy? The first chapter is engaging and I will report what I think about this book, not that anyone is really interested. Blogging is a fascinating thing. More Later...

One of the worries of professionals in my industry is that rates will go up forcing some potential home buyers from the market. The 30 year fixed rates averaged 4.81% as of December 10, 2009 up from last weeks average of 4.71%. While the rate is still low, compared to last year, the fear is that banks will have to raise rates since the Fed indicated that they will reduce the amount of mortgage paper they are buying by March 2010. This shift to the private sector has some worried that rates could climb at least 1% perhaps even 2% over the current low rates. That combined with tightening credit is giving everyone the jitters. Please see the Wall Street Journal Article.

Oconomowoc School District Links

As a parent I am very proud of our school system in Lake Country. I thought a few web-links would be helpful for those parents who have not found the OASD (Oconomowoc Area School District) site or for those of you who are thinking about moving into our area. Oconomowoc Schools Media presentation is a colorful look at the School District.

OAC Box Office is a great site to save to your favorites on your computer. From this site you can purchase tickets for events at the OAC (Oconomowoc Arts Center). Having attended quite a few of the "non-professional" presentations I honestly don't know why they are called non-professional, because the kids rock. The signing, dancing, choreography, set design are all professional! It is truly amazing to watch.

If your child desires to go beyond spanish as a language and comes home one day and says, "nǐ hǎo" or Good Morning in Mandarin Chinese, they can learn this exotic language right here at the Oconomowoc High School. Scroll down on the page and you will find more information about the International Baccalaureate program or IB for short.

Do you want to know a little more about your child's teacher? Well there is a link for that as well on the staff page . Here you can quickly save the email address for easy contact.

All the athletic information from schedules to opportunites are located on the easy-to-use site. As a parent you are connected to everything your child may want to involve themselves in.

Are you moving into the area and you would like to know what Elementary or Middle School area your new home is located in? The easy to locate district map will provide you with all the information you will need.

Here's hoping this helps!

In Real Estate

Headlines for Monday December 7, 2009

House Flippers Are Back!

House Of The Day

Fed NY Pres: "The recession now appears to be over"

Baltimore Lender gets boot from FHA

Naked Santa Causes Stir

Buying a Short Sale

In today's ever changing Real Estate market, as a buyer you will undoubtedly come across a "short sale". A short sale is a process that the seller's market value of the house will no longer satisfy the current indebtedness. The banks in some cases will forgive the debt. This process is called a short sale. As a buyer there are a few factors that you should be aware of before putting in an offer on a short sale. Here is a brief list of questions to consider:

1. How many mortgages are on the property? If the seller has more than two mortgages against this property then chances of you obtaining the property in a relatively short period of time are almost nill.
2. Are there any unpaid HOA (Home Owners Association) dues? If there are the listing agent should try and work with the seller to get those paid ASAP.
3. Has the seller sent in ALL of the information that the lender has requested? If the seller has not done this and included their hardship letter then move on to the next house. This is not going anywhere. You can determine much about the sellers cooperation if they have not submitted a complete packet. Partial packets to lenders are deal killers.
4. Find out who the lender or servicer is. Some lenders/servicers are slower than others. Your Realtor should be able to assist you with this.

Just because the property is in the short sale process does not mean you shouldn't think about submitting an offer, but a little extra information before the offer can make the process easier.

Good luck in your search for the perfect home. Feel free to check out my other blog at Lake Country Blog where I regularly comment on life in Lake Country.

In Real Estate

Wells Fargo to Lay of 26 in the Falls

Foreclosure Scams in AG sights

From Versace to Chainsaws

AM Trust Shut

Partents Give Downpayment money to kids

Rates pushed lower by low housing demand

Consumers on the hunt for personal loans

Short sales made easier

What Difference Do It Make?

I recently blogged about a book I had read "Same Kind of Different as Me" by Ron Hall and Denver Moore, and how much I enjoyed the book. It is a moving story of friendship, redemption and healing. I was greatly moved by the book. The publisher saw my brief review and asked if I would be willing to read the new book that the authors penned, "What Difference Do It Make?"  I said yes. Well the book arrived today so now I need to do my part. Hopefully I can get through the book in the next few days and will post my review here. From the brief introduction it looks like it will be as good as the first book.  Developing...

Snow is Coming...Are you Ready for the Slush?

It snowed last night, not much but just enough to remind us that winter is on the way. With the snow comes slush and wet shoes. I always have a pack of shoe covers handy for each listing. Most home-owners appreciate the gesture. When buying the covers I generally like to get the universal shoe size, or one-size fits all type. These shoe covers I found to work great for the "snow season" . Most

30 Year Low for Mortgage Rates

With interest rates at a 30 year low down to 4.71% lower than last weeks reported low of 4.78% some buyers will sit on the sidelines and wonder if they will get even lower before they jump into the market. But before you hit the "snooze button" and check out remember that the market is changing quickly. If you are serious about buying your dream home, now is the time. Spring will bring other pressures to the market

Big Homes Still Hope For Buyers

I thought this was an interesting article. Click on the title to link to the MSNBC article. The Mega-Mansions those 9 figure homes, yeah you read it right, $150,000,000 asking price for Aaron Spelling's home-these big priced tag homes are feeling the pinch too in the real estate market.