Becky Brand

On Friday, June 5th the Lake Country Shorewest Realtors Office will hold it's second annual Rummage for Charity from 8AM to 2PM. Last year over $1000 was raised for the Oconomowoc Food Pantry and the Oconomowoc High School DECA team. We hope to top that amount this year!

You can help by donating items in good condition, especially household goods and furniture, sporting equipment and children's items. Items can be dropped off at the office located at 1296 Summit Avenue in Oconomowoc anytime after May 29th. Please feel free to call ahead to schedule a time to drop items off if you prefer. And of course, please come out to shop on Friday, June 5th!

So you have a buyer who wants your home but they either can't or won't pay the price you need. What can you do? One option is to utilize Wisconsin Mortgage's Rate Relief program. As a seller you buy down the buyer's interest rate which enables the buyer to pay more for the house but keep the same monthly payment.

For most buyers, buying a home is less about the sales price and more about the monthly payment. Think about how cars are sold, they aren't sold on total price but on monthly payment. Treat selling your home the same way. If you can bring the buyer's payment into their comfort zone, you have a sold home!

I am not a mortgage broker/loan officer and each situation will be different but this should serve as a good example of what can happen.

On the left is the buyer's original offer of $200,000 on a $220,000 home. At an interest rate of 5.5% this made the monthly principal and interest payment $1078/month on their $190,000 loan. On the right is a higher offer where the sellers are contributing 3% back to the buyers for an interest rate buy down.

Sales Price $200,000 $216,000

Points Paid By Seller $6480

Loan Amount $190,000 $205,200

Interest Rate 5.5% 4.375%

Monthly P/I Payment $1078 $1025

Seller Net $200,000 $209,520

The payment of $1078 was the buyer's top payment. Because the buyer was putting down 5%, the seller could contribute up to 3% of the purchase price. Contributing that 3% changed the rate from 5.5% to 4.375% at a cost of $6480 to the seller. That dropped the payment for the buyer by $53 per month but allowed the seller to net $9,520 more for their home. In this case it allowed the buyer and seller to come to an agreement and resulted in an accepted offer.

If you as a seller agree to participate in this program with the right offer, Shorewest Realtors will advertise this to buyers through our Website and special yard signs. If you are in Southeastern Wisconsin contact me or Wisconsin Mortgage. If you aren't in Southeastern Wisconsin I encourage you to talk to a loan officer in your area prior to receiving an offer so that you are familiar with your options. Imagine the competitive edge this program could give you when buyers sit down to compare homes.

If you have a home for sale or just live in Jefferson County WI (midway between Madison and Milwaukee) you will be interested in knowing what homes sold in the first quarter of 2009.

As you can see, no homes were reported sold for over $400,000 in the Multiple Listing Service. What does this mean if you have a home over $400,000? It doesn't mean it won't sell, but it does alert you to the need for patience and a good Realtor.

The good news is that if you have a home on the market under $200,000 you are in the part of the market with the largest pool of buyers.

Interested in what your equity is in today's market? Call me today and I will match you up with an expert agent for your area!

There is no doubt about it, there are homes selling in every price category. Those homes, of course, are the ones that are priced right and are in great condition. However, what if you were looking for a trend, wondering which price ranges are the most popular in your area? If you live in Waukesha County, Wisconsin, wonder no more - here are the homes sold in the first quarter in Waukesha County, by price range:

Are you thinking of selling a home this year? Come and find out answers to these and other

important questions:

•· Can I really sell in a down market?

•· What homes are selling in my neighborhood?

•· Am I best in a position to sell, rent or refinance?

•· What if I've found my next dream home and I must sell my current house to get into that one?

•· What can I do in the meantime to make my house more marketable?

•· How do I even determine the value of my house? An appraisal? The tax assessment? A Realtors®

•· Market Analysis?

•· What are the top 5 questions to ask an agent before letting them list your home?

•· How can Wisconsin Mortgage's Rate Relief Program help me net more for my home?

Shorewest Realtors is holding a free home selling seminar on Thursday, April 16^th from 7-8:30PM at their office in Oconomowoc, WI.

To pre-register email lcseminar@shorewest.com or call 262.567.8302 ext. 111.