Milwaukee, WI

CONTACT US TODAY AND TALK TO AN EXPERT: CALL (715) 220-7083 or (414) 243-5107

There is no denying that recently times have been tough. More and more Wisconsinites are struggling to stay afloat in an overwhelming sea of debt. One of the biggest hit markets is the housing market. Due to the increased costs of living and the increased number of people losing their jobs, more and more people are being forced to look into foreclosure as their only option to make ends meet.

There are over 7,500 foreclosures in the Wisconsin real estate market. However, there is an alternative to foreclosure so that your home does not end up as one of these statistics; it is called Short Sale.

What Is A Short Sale?

Instead of accepting foreclosure and surrendering your home, Wisconsin Short Sale allow you to make a deal with your lender so you can avoid foreclosure and the other pitfalls that come with it.

A Short Sale occurs when your home is sold for less than what you currently owe on the house. If the Short Sale is close to the market value and, with the right WI Short Sale realtor, it is possible that the lending company will allow a Short sale to happen.

You are able to sell your home and the bank will let the difference slide. You do not need to forfeit your property and you do not need to worry about your credit rating dropping.

CONTACT US TODAY AND TALK TO AN EXPERT: CALL (715) 220-7083 or (414) 243-5107

Benefiting from the WI Short Sale Option

The best thing about Short Sale is that it allows the home owner to walk away from a very tough situation without any major marks on their credit report.

Furthermore, they are able to start again in no time without losing their investment. Short Sale will not only benefit the home owner in trouble. Lenders do not want to foreclose homes as they are losing out on an investment.

With Short Sale, they are able to walk away from a very tough situation almost unscathed.

Wisconsin Short Sale in the Real Estate Market

Many people are wondering if Short Sale are so popular, then why doesn’t everyone do it. The reality is Short selling in Wisconsin has only been made popular in the last few years, and, although it can benefit both the home owner and the lender, it can be quite the lengthy process.

The paperwork, the bargaining and the contractual agreements can be a little overwhelming for anyone, especially someone trying not to lose his home. This is why most successful Short Sale are done through a qualified and licensed WI Short Sale agent. A Wisconsin Short Sale expert will work on your behalf, speaking to the lenders and determining whether Short selling is an option that will work for your situation.

There are many reasons why you may find yourself in financial hardship. You may have lost your job or taken a reduced income cut; you may have recently divorced or separated; you may be suffering from a serious illness which is preventing you from working; you may have just lost your spouse; your business may have plummeted; or you simply may have overspent. Whatever the case, Short Sale in WI allow you to recover from your financial hardship without succumbing to the fate of foreclosure.

CONTACT US TODAY AND TALK TO AN EXPERT: CALL (715) 220-7083 or (414) 243-5107

One of my listings has been copied by a scammer from Algeria. They copied the pictures and description and posted an ad on Craigslist as a rental at a rock bottom price.

I reported this to the FBI, who has not been able to do anything. They contacted Craigslist who claimed the right to freedom of speech.

I contacted Craigslist a number of times, never receiving an answer. I explained how this has been ruining my business and threatening my livelihood. I have a sign on the property and I receive numerous calls a day from people looking for more information. A number of calls were from people who had wired from $500 to $2000 to a bank account in Algeria. You can imagine how those calls go, as these people think I am responsible and expect me to return the money.

I finally contacted the NAR and explained the situation. They contacted Craigslist and were finally able to get the ads pulled. Following is a link to the warning posted by the NAR.

Http://www.realtor.org/law_and_policy/scam_alert

I would be so easy for Craigslist in initiate a system to protect their customers. When an ad is placed they can check the country of origin. If the ad has no local contact information, such as a phone number they need to check the ad response. This scam was running on six properties in the Milwaukee area and I am certain in many more throughout the country. All the ads have the same e-mail response. I have tagged these ads dozens of times, but Craigslist would not take them down.

Any ideas on how we can get Craigslist to clean up their act and provide a safe environment for their customers? Maybe I should send this off to their competition.

Tristan R. Pettit, Esq. is presenting a seminar on landlord/tenant law. He is a real expert in this field.

Check out his blog at VISIT MY LANDLORD-TENANT LAW BLOG at www.LandlordTenantLawBlog.com

The seminar is entitled "Landlord Boot Camp" and will take place on Saturday, February 27, 2010 from approx. 8:30 am - 5 pm at the Clarion Hotel located at 5311 S. Howell Avenue in Milwaukee. The cost will be $159 for AASEW members and $249 for non-members.


You will receive a 100 page plus manual including lots of landlord tenant law forms. Typically charge for seminar is between $300-$400. This is your opportunity to learn all of the same information at a much discounted price.

ADGENDA
- How to properly screen prospective tenants

- How to draft written screening criteria to assist you in the selection process

- How to comply with both federal and state Fair Housing laws including how to comply with "reasonable modifications" and "reasonable accomodations" requests.

- How to legally reject an applicant

- What rental documents you should be using and why

- When you should be using a 5-day notice versus a 14-day notice, 28-day notice, or 30-day notice

and how to properly serve the notice on your tenant

- Everything you wanted to know (and probably even more than you wanted to know) about the Residential

Rental Practices (ATCP 134) and how to avoid having to pay double damages to your tenant for breaching ATCP 134 - When you are legally allowed to enter your tenant's apartment - How to properly draft an eviction summons and complaint - What to do to keep the commissioner from dismissing your eviction suit

For further information and to register to attend the seminar please contact Paulette (the AASEW's Membership Director) at 414-276-7378 or paulette@apartmentassoc.org Thanks and I hope to see you there. Seating is limited to the first 30 people!!!!

The NAR just released information on a new site. Http://www.houselogic.com
To my surprise they actually included a section for home owners facing foreclosure. It is not the most complete page and points them to only one link and phone number for help.

Making Home Affordable: The Modification Option
Http://www.houselogic.com/articles/making-home-affordable-modification-option/

But I am going to see if I can persuade them to add the HUD link, giving home owners access to local help. Http://www.hud.gov/offices/hsg/sfh/hcc/fc/

Don't be afraid to let the NAR know they can do a better job by letting people know local help for loan modifications is available. You can e-mail the NAR at:
Vicki Cox Golder, 2010 NAR President
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During November 2009 there were 392 sales with an average time on the market of 135 days selling for an average price of 109,211 with a list to sales ratio of 86.75%.

There are currently 336 accepted offers and 729 listings expired.

The results were 61 sales greater in 2009 compared to the results of 2008. However, there were 14 more listings added this November compared to 2008.

There are currently 4542 properties listed in Milwaukee with an average price of $181,477 and have been on the market 214 days.