Peggy Wester Real Estate Agent Ozaukee & Washington County Real Estate

We're over halfway through April already, and here in Ozaukee and Washington counties the sun is shining and the temperatures are rising -- finally! Spring has sprung. And the real estate marke is abuzzing. Here's a quick snapshot of what's happening in Ozaukee and Washington counties. The information here is provided by Multiple Listing Service, Inc.

The status "pending" means the property has an accepted offer and all contingencies have been removed.

So what does this mean for you?

First, contrary to what you might be hearing in the media, the real estate market in Ozaukee and Washington county is moving -- no pun intended. If you're in the market to sell your current home, buyers are out there. We typically see an upswing in activity this time of year -- and it's no different this year -- so it's a great time to get on board.

Second, if you're considering buying a home -- whether it be a first-time purchase, upsizing, or downsizing, this is a great time to jump in, as well. You can see inventory is still high, so you have a lot from which to choose. And did you know that interest rates have been and continue to be at or below 5%??? No one knows how long they'll stay there, so why not jump in now??

Feeling a little overwhelmed or confused about everything you're hearing or reading? Not sure what your next step should be? Contact a local realtor for some guidance. We know the market better than anyone.

I recently wrote a brief post about the increase in sales in Ozaukee and Washington counties from February to March of this year. While this is encouraging news, by no means are we "out of the woods" yet. Short sales and foreclosures are still numerous, and inventory is still high. So if you currently have your house on the market or are considering selling, it is especially important in these times that you pay attention to what is happening in your specific market.

If you truly want to sell your home, stay positioned ahead of your competition. How do you do that? Work with your real estate agent.

I try to provide my sellers with regular updates on the activity we have (or have not) had on their house. This includes requests for private showings, phone inquiries, and open house visitors. They all have continuous access to an activity report that provides a summary of this information.

Pay attention to the feedback that's given at private showings and open houses. What do potential buyers like about the house? What don't they like? Are the dislikes things you can change or improve (for minimal cost)? Try as best you can to compare your house to your competition objectively and recognize what your house has that theirs doesn't and vice versa. Take note of how long your house has been on the market compared to other homes that are on the market and that recently sold.

If there have been several private showings, traffic through every open house, and high internet traffic but no offer, pay attention to that. If much of the feedback about the house has been positive, but still no offer, pay attention to that. On the flipside, if the overall activity has been sparse, pay attention to that. Recognize that the market can likely not handle the current list price.

One of the most difficult parts of my job is making "that" phone call. You know the one -- when we have to discuss a new strategy, a price adjustment. Providing an up-to-date market analysis is the best way to see on paper where your house is positioned in comparison to your competition. And it shows you what homes comparable to yours have recently sold for.

While there was a time when we could rely on properties that sold as long as a year ago, that is no longer the case. Prices have unfortunately declined at a pace that now makes it necessary to focus on solds from the past few months.

When you can see on paper how prices have declined, it can be a very tough pill to swallow. But if you are committed to selling your house, acknowledging that a price adjustment is probably needed is a necessary part of the home-selling process.

Your real estate agent is there to help you sift through all the information -- to help analyze all the data. Work together to sell your home, not your competition's.

Over the past month, it seemed like the activity at my office was picking up a bit -- open house attendance was up, more showings were being scheduled, more offers were being written on the board, and more listings were being taken.

But it wasn't until I ran the number of sales over the last three months from my local Multiple Listing Service (MLS), that I saw on paper how much things really had improved. Are we starting to make a comeback??

While it will take some time for market conditions to "get back to normal," I can't help but feel even more optimistic about the spring and summer markets. And it is worth repeating that with so many choices for buyers, interest rates hovering around 5%, and the $8000 credit for 1st-time buyers, right now is an opportune time to purchase a home.

So if you've been thinking about buying a home, go ahead...

TAKE THE PLUNGE!

I think every once in awhile our paths cross with that of someone who leaves an impression we do not soon forget.

Recently my path crossed with that of Suzanne Fischer, owner of Suz Catering in Grafton, Wisconsin. I found out about Suzanne from a mutual friend when I asked if she knew of anyone who might be able to cater our local realtor board's Christmas party. After my first conversation with Suzanne, I knew I met a winner.

Of course I wanted to hire someone for this event who made a product that would be enjoyed by the attendees. But I never anticipated the level of enthusiasm and service that would also be provided.

From offering suggestions of menu items suitable for the event and venue and that kept us within a tight budget, to delivery, set- up, restocking food items throughout the evening, and cleaning up after the event, Suzanne's professionalism was second to none. As her brochure says, she "pays special attention to every detail." Every single detail.

Suzanne will cater for any size event-theme parties, holiday gatherings, birthdays, anniversaries, weddings, showers, graduations. Menu items available include entrees, sandwiches, appetizers/hors d' oeuvres, breakfast items, salads, side dishes, desserts, vegetables, soups and beverages. Extra services such as place settings, flatware, linen napkins, table skirting, glassware, and plastic ware/paper products are also available.

It seems that so often the service providers we work with these days don't offer that personal touch that seemed to be such a natural thing in times past. Suzanne Fischer is an exception to that.

Suz Catering really is Ozaukee County's Best Kept Secret. Call or email her today. You'll be happy your paths crossed.

Suz Catering
262-388-3123 or 262-375-0126
suzcatering@att.net

OK...so here's the deal.

I love my job. I really do. I love meeting and helping people find "the home of their dreams." I love helping people sell their home and move on to another chapter in their lives. I enjoy all the work that goes into getting all the parties to the closing table. Seeing that look of excitement on my seller's or buyer's face is the icing on the cake.

But just like everyone else, my time is important. And especially in these more challenging times, it's important that we all use our time in the most productive and efficient ways we can.

Some folks out there may not know that real estate agents don't receive a paycheck until we close on a deal. That means that if I spend three months showing a buyer various properties, and all of a sudden their plans change, I don't get compensated for that time. If I list a house and the seller decides they don't want to sell, I don't get compensated for the time or money I put into marketing that property.

A few days ago, I wrote a post, Talk to Me--, I'll Listen!, which stressed the importance of maintaining an open line of communication between seller/buyer and sales agent. Earlier this week, fellow Active Rainer, Jason Crouch, wrote a great post, How many other professionals work on contingency ALL THE TIME? A sincere look at the real estate business model, which offered some ideas for changing the current real estate business model.

I know before I became a real estate agent, I had no idea the time and effort that went into assisting a seller or buyer in the sale or purchase of a home. But I do now. So I thought it might help to provide a brief summary of what goes into getting a deal to the closing table:

WORKING WITH SELLERS

1. Meet with the sellers to tour their home.
2. Complete a comparative market analysis (CMA).
3. Meet with the sellers a second time to study and analyze market data, determine a price, go over the marketing plan.
4. Complete listing paperwork.
5. Measure rooms.
6. Hire and meet with photographer at the property to take photos.
7. Enter property into MLS and various web sites.
8. Create and print information packets for the house.
9. Drop off information packets and lock box at house.
10. Maintain supply of packets throughout listing.
11. Order and mail out Just Listed postcards.
12. Respond to emails and phone calls from seller throughout listing period.
13. Email activity link to sellers to allow them continuous access to a summary of the activity on their house (private showings, open houses, web site hits, etc.).
14. Prep/order food for Broker's Open.
15. Set up/host Broker's Open to invite fellow agents to view home and offer opinions.
16. Contact seller with Broker's Open feedback.
17. Schedule open houses and hang "Open Sunday" sign at property.
18. Host open house.
19. Contact seller with open house feedback.
20. Contact agents for showing feedback.
21. Contact seller with private showing feedback.
22. Enter private showing and open house feedback into computer.
23. Review market daily and provide seller with changes to market conditions.
24. Meet with sellers as needed to discuss market position and possible price adjustments.
25. Contact sellers with questions asked by potential buyers.
26. Assist sellers with negotiating offer and possible counter offers.
27. Fax counter offers to and maintain communication with selling agent throughout negotiation process.
28. Prepare and email seller with list of contingency due dates.
29. Prepare closing file for Shorewest Closing department.
30. Contact sellers to verify date/time for home inspection.
31. Meet with and assist sellers with negotiations that may arise from home inspection.
32. Maintain communication with selling agent.
33. Meet with sellers for pre-signing of closing documents.
34. Attend closing on seller's behalf.
35. Send out Just Sold postcards.
36. Follow up with sellers.

WORKING WITH BUYERS

1. Meet with buyers to discuss their timeline, type of home, lending information, etc.
2. Set up search for buyers.
3. Email new listings to buyers daily.
4. Follow up with buyers for feedback on listings that have been sent.
5. Schedule showings (usually happens multiple times).
6. Show properties to buyers (usually happens multiple times).
7. Contact listing agents with showing feedback and questions raised by buyer.
8. Contact buyer with answers to questions.
9. Set up second showings.
10. Meet with buyer to write offer.
11. Fax offer to listing agent.
12. Assist buyers reviewing and writing counter offer(s).
13. Fax counter offers to and maintain communication with selling agent throughout negotiation process.
14. Notify buyer that offer has been accepted.
15. Prepare and email buyer with list of contingency due dates.
16. Fax accepted offer to lender.
17. Maintain communication with lender through loan commitment.
18. Prepare closing file for Shorewest Closing department.
19. Email list of home inspectors to buyer.
20. Contact listing agent with home inspection date/time.
21. Attend home inspection.
22. Meet with buyer to draw up paperwork requesting repairs resulting from home inspection (as needed).
23. Maintain communication with buyer regarding offer contingencies and their completion.
24. Arrange for final walkthrough.
25. Respond to buyer's emails and phone calls regarding offer or general home buying questions.
26. Contact listing agent with closing time and location.
27. Attend closing.
28. Send out "Found Buyer" postcard.
29. Follow up with buyer.

The amount of time between initial contact with a seller or buyer until closing day can vary from a few weeks to a few months to even a year or more.

So what does all this mean for you, the seller or buyer?

I need you to help me use my time efficiently. If you decide not to purchase a home or are working with another agent - tell me. If you decide you really don't care if your house sells or not - tell me. That will helps us work together to figure out our next plan of action. The bottom line is that in order for me to make a living, I have to get to the closing table several times a year. And the only way to do that is to work with sellers and buyers who have that same goal in mind.