Julie Press-Raese, LLC Realtor, ARB, CRS, GRI

Are you supporting your local Farmer's Market? You should be. I intend to go again this morning.

Summer Fun at the Market!

Cooking Demonstrations, Recipe-Cooking Contest,
Kids Activities

The Janesville Farmer's Market has Summer activities scheduled for most Saturdays!

Join the JFM Cooking Demonstrations every second Saturday of the month. Area cooks will show you how to cook produce and goods found at the JFM.

Every third Saturday, show off your creative cooking skills at the Market's Recipe-Cooking Contest. Each month's Contest features a different theme, based on seasonal ingredients: June-Strawberries; July-Corn; August-Tomatoes; September-Potatoes; and October-Soups or Stews. Contest Rules and Entry Form are here.

Finally, every fourth Saturday of the month is Kids' Activity Day. Bring the kids and let them discover the various activities waiting for them throughout the Market!

Join us every Saturday for a summer of great farmer's market goods, activities, and fun. Come celebrate the Janesville community!

Stop by and support your local area!

The statistics are in for July 2009. These numbers are direct from the MLS.

There are 602 active listings currently with 95 new listings this month and 75 that sold. The average sale price is $115,742 with average days on the market 111 and percent of sale to list 89%.

Janesville's condo market has 71 active listings with 7 new this month and 10 sold. The average sale price was $104,390 with the average days on the market 117 and the percent of sale to list 90%.

Janesville's investment property has 74 active listings with 14 new and 6 sold. The average sale price was $82,733 with the average days on the market 94 and the percent of sale to list 91%.

Rock county has a total of 1491 active listings with 255 new this month and 177 sold. The average sale price $124,090 and on the market for an average of 127 days.

YTD Janesville's single family SOLD 406 with an average sale price $118,107 for an average of 99 days on the market and 89% of sale to list.

So far this year in Janesville 30 condos, 22 multi-family units. Beloit has sold 190 single family,

7 condos and 2 multi-family units in 2009. Rock county has sold 847 total for an average sale price of $122,186 in an average 104 days.

Coldwell Banker-Success has 27.3% market share for the city of Janesville and 20.3 for Rock County.

The next competing company in Janesville has 13.7%. Our office is doing really well!

Banks Express Hope for Fed Short-Sale Effort
The federal government is launching a program to simplify and speed up the short-sale process by providing standardized documentation, cash incentives to lenders, and a $1,500 moving allowance to borrowers. Holders of second liens will get up to $1,000 to relinquish their claims.

Banks say the short-sale process has been taking so long because both their employees and real estate practitioners are learning as they go.

David Sunlin, vice president in charge of short sales at Bank of America, says he hopes the new government plan will help. "About half of short sales never close. We see it as a big lost opportunity, and we need to improve the rate we close them," he says.

Wells Fargo says it has cut its short sale average turnaround time from 90 days to 30 days by preparing a guide from real estate practitioners and putting in place procedures to handle short-sale requests.

[Editor's note: The federal government announced its short sales initiative in May at the annual Washington meetings of the NATIONAL ASSOCIATION OF REALTORS® and the association maintains short-sale resources for practioners.

This would be a very good thing. Anyone who has worked on short sales know how frustrating this process is. More to come on this issue, I'm sure!

Source: USA Today, Stephanie Armour (08/05/2009)

I get calls everyday asking about rent with option to purchse. I've found some info from NAR regarding this process. Sometimes it sounds like a better idea than what it really is. If you are planning to go with an FHA loan this process may not work for you either. Make sure you work the process through from start to finish before signing.

Rent-to-Own Deals: Smart Questions to Ask...

For Sellers:

Who will tend to the property and pay for routine maintenance?
Who pays for major repairs?
What are the costs of setting up and managing an escrow account for the portion of rent allotted to the down payment?
Will you manage the property yourself, or hire an agent?
What if the renters change their minds? Who keeps the money in the escrow account?
If the buyers change their minds, what will be required to put the property back on the market?

For Buyers: How much of the rent is going to the down payment?
How locked in are you if you change your mind?
What will it cost you to get out of the deal?
How long will it take to accumulate enough of a down payment that you are likely to qualify for a mortgage?

Source: REALTOR® Magazine Online.

With all the inventory we currently have, there are things you can do to help with the sale of your home.

Never has it been more important to go above and beyond to attract a buyer. The list below is from NAR and has some great points. Make yourself attractive both with price and condition. You will find a buyer!

Simple Tips for Better Home Showings

1. Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don't forget to clean out the garage, too.

2. Wash your windows and screens. This will help get more light into the interior of the home.

3. Keep everything extra clean. A clean house will make a strong first impression and send a message to buyers that the home has been well-cared for. Wash fingerprints from light switch plates, mop and wax floors, and clean the stove and refrigerator. Polish your doorknobs and address numbers. It's worth hiring a cleaning service if you can afford it.

4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows to air out the house. Potpourri or scented candles will help.

5. Brighten your rooms. Put higher wattage bulbs in light fixtures to brighten up rooms and basements. Replace any burned-out bulbs in closets. Clean the walls, or better yet, brush on a fresh coat of neutral color paint.

6. Don't disregard minor repairs. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they'll give buyers the impression that the house isn't well-maintained.

7. Tidy your yard. Cut the grass, rake the leaves, add new mulch, trim the bushes, edge the walkways, and clean the gutters. For added curb appeal, place a pot of bright flowers near the entryway.

8. Patch holes. Repair any holes in your driveway and reapply sealant, if applicable.

9. Add a touch of color in the living room. A colored afghan or throw on the couch will jazz up a dull room. Buy new accent pillows for the sofa.

10. Buy a flowering plant and put it near a window you pass by frequently.

11. Make centerpieces for your tables. Use brightly colored fruit or flowers.

12. Set the scene. Set the table with fancy dishes and candles, and create other vignettes throughout the home to help buyers picture living there. For example, in the basement you might display a chess game in progress.

13. Replace heavy curtains with sheer ones that let in more light. Show off the view if you have one.

14. Accentuate the fireplace. Lay fresh logs in the fireplace or put a basket of flowers there if it's not in use.

15. Make the bathrooms feel luxurious. Put away those old towels and toothbrushes. When buyers enter your bathroom, they should feel pampered. Add a new shower curtain, new towels, and fancy guest soaps. Make sure your personal toiletry items are out of sight.

16. Send your pets to a neighbor or take them outside. If that's not possible, crate them or confine them to one room (ideally in the basement), and let the real estate practitioner know where they'll be to eliminate surprises.

17. Lock up valuables, jewelry, and money. While a real estate salesperson will be on site during the showing or open house, it's impossible to watch everyone all the time.

18. Leave the home. It's usually best if the sellers are not at home. It's awkward for prospective buyers to look in your closets and express their opinions of your home with you there.