Debby Thompson- Homestead Realty REALTOR® Wisc

Hey batter batter batter It's time to play ball. Yes today was the opening season at Miller Park. The fans lined the parking lot with grills. It is tail gating time. Can you smell the brats? Can you see the line of traffic heading for Miller Park. It;s all back and spring has sprung.

Now if you were waiting for spring to think about looking for a new home, that bat has already swung. The buyers are out ever where looking for a good deal. They have listen to the TV will all the bad news until lately they started to hear yes people are buying and the rates are really low. What does all this mean to you. Do I buy or do I stand on the side lines and watch the runner go by?

Should I run and maybe caught the ball? Or do I wait for someone to call safe.

SO all you sitting at Miller Park today cheer hard for our team.

The NSP Homebuyer Assistance Program provides funding to help prospective homeowners purchase and rehabilitate foreclosed homes they will occupy as their primary residence. Both financial and technical assistance are provided as part of the program

Anyone who wishes to participate must have completed at least 8 hours of home buyer counseling from a HUD-approved housing counseling agency. A list of these programs in the Milwaukee area.

If you would like more information on this program please give me a call at 414-403-0657

There are guide lines to this program that I will be able to email you. If you would like this information you can email me at debbytrealtor-milwaukee@yahoo.com

I am looking for your vote on how you are feeling about the housing market in the Wisconsin area.

As a real estate agent in the Milwaukeearea I may think one way and the homes buyers may think another way so I wanted to put this out there just to check and see that your thoughts are right about what is going on.

• Have you thought that maybe now is the time to get off the side lines and jump back into the market?
• Are you concerned that maybe it isn't such a good time because I am not sure I will have my job tomorrow?
• Do you feel the price have fallen as low as they will go?
• Do you think we haven't seen the bottom yet?
• Do you feel now might be the time to put your home back on the market?
• Are you still sitting with a home on the market and have not seen anyone coming to look at it?
• Are you just plain scared and not sure what to do?
• Are you out there buying every deal you can find?
• What will it take to make you feel like now is the right time?

Let's see what everyone is thinking to help us decided what kind of information we can give out to let everyone better understand the real estate market in Milwaukee.

Maybe we can help someone by explaining how Milwaukee may be different then other parts of the country.

Are these buyers and sellers are so close but yet so far away and making a deal?

Yes we have a seller that has put their heels in the ground and we have buyers doing the same. We are $2,000 away from having a deal yet both will not give in. This is a $165,000 condo that one of the buyers really loves but the other buyer is just OK with it and is willing to walk away over $2,000. The seller wants $152,000 for it and the buyer is only willing to pay $150,000. They are willing to walk for as little as $10.89 a month in their payment. WOW! Does this tell you how the market is. Buyers are saying this is all I will pay of I will go to a different one right down the road.

Well, soon this debate maybe over. Seller can see that the market may be changing and things are starting to move. Buyer hear it is a buyers market and seller are willing to deal. But have we now come to a point where neither are willing to make the deal.

It is hard to get a loan and yes to have a buyer ready willing and able to buy should I be happy as a seller or do I throw the dice and think there is another one that will be coming around the corner.

I am a buyer and I really love this place but why should I not try to get the best deal I can. Everyone knows it is a buyers market.

So as an agent you try your best to get the 2 parties together and try to hold the deal together. But sometimes with all the talking and explaining you still can't make either understand the other position and the deal falls apart.

I have chosen to say my glass is half full. Why do I say this. Well if I was to judge the real estate market in the Milwaukee area I would say that buyers have returned.

What are the seller thinking? Well when they get an offer on their home are they trying to work with the buyers to get the deal done? If an offer comes in it is important to understand WHY you put your home on the market to begin with. You wanted to sell! So if you have a buyer that has made that step they are interested in your home. They have picked it over all the other homes that are on the market. At that point your glass is half full. You are a step about the rest.

OK let's say you don't like there offer. What do you do next. Counter them back. At that point you have to think how much do I want to sell this place. Is the buyer being unreasonable or do I really understand what has gone on the past year and a half. Price have dropped. Can you get your home to appraise out at the price you think it's worth. So if you counter back are the buyers going to run? Then your glass will be half empty. Working things out so it is a Win Win for everyone. Yes you can counter back but at what price? What have homes or condos sold for in your area? Ask your agent. They will be able to help you with this. If you are looking at a price that is to high for sales in your area then your home will never appraise out at that price not now! The lenders are really watching this. Why you might ask? Well with the prices going down and them having to modify loans to current market value. A lender would have to be crazy to approve a loan that was on an over priced home. So if you don't like the current SOLD price in your area and you don't really need to sell then why have people going through your home for no reason. Now is not the time for you.

When an agent comes in and list your home. They will compare it to current homes on the market. But when an appraiser comes in they can only go off of home that have sold. So here is the major problem.

So if you need to sell and you want to sell keep your glass half full and make your counter offer in line with what is going on in the market.

So if you are looking to fill your glass now might be the time to to sell. Buyers are back and they are looking. Yes they are write offers that you may not like but at least the interest is back and work with them when you get an offer.