Here is today's market listings update for Active three (3) bedroom ranch homes located in Evansville Wisconsin. This information was pulled from the South Central Wisconsin MLS on 2/2/2012 at 4:00 P.M.

• 30 total 3 bdrm ranch homes are currently listed in Evansville, WI
• Low listing price: $125,000
• High listing price: $1,500,000
• Average listing price: $240,536
• Median listing price: $177,500
• Average days on the market: 152

If you are looking for a 3 bedroom ranch home that has a 2 car garage and a minimum of 2 bathrooms, then the numbers do change. Those stats are listed below.

• 14 total 3 bdrm ranch homes, with 2 bathrooms & a 2 car garage in Evansville
• Low listing price: $138,500
• High listing price: $245,000
• Average listing price: $185,578
• Median listing price: $177,000
• Average days on the market: 146

Of course these numbers change on a daily basis, so to obtain the most up to date information, please contact us directly at 608-921-8536. We would be happy to customize the search further for you to find the home that is just right for you.

As an extra benefit to Rock Realty home buyers, we offer a 1% broker commission rebate after closing. This could mean $2,000 back on a home purchase of $200,000. We love to hear how these rebates help our clients. Some use them for home improvements, while others simply put it in savings for future needs. It is a great option that we are happy to offer. Contact us for further details and limitations.

Original Post - Ranch Homes in Evansville, WI

Below is a list of Evansville Wisconsin area schools. You will find contact information, including phone numbers and addresses. This list is supplied by Education.com. If you are looking for specific details on Evansville area high schools, middle schools and elementary schools this is a great place to start your search.

Evansville Wisconsin Schools

If you would like further detailed information on Evansville Wisconsin Local Information, please visit the page linked below on Rock Realty's website. These pages offer local area information and statistics for Wisconsin Cities and Towns in Dane County and Rock County Wisconsin. Items like Real Estate Market Stats, Neighborhood Walk Score, Colleges and Schools can be found via the link below. These stats are gathered from Zillow.com, WalkScore.com, Yelp.com, TeachStreet.com, MatchCollege.com, and Education.com.

Wisconsin City Statistics and Local Area Information

Evansville WI Short Sale Realtors® 53536 Are you looking for an Evansville Wisconsin Short Sale Realtor® or Real Estate Agent? Rock Realty is a real estate brokerage that specializes in Short Sales and Bank Owned Foreclosures in the Evansville WI area. My name is Michael Collins, broker for Rock Realty. I have completed the Short Sales and Foreclosure Resource training and have been given the SFR designation through the National Association of Realtors®. Feel free to contact me directly at 608-921-8536 for help with any of your short sale questions. I have helped many Wisconsin home owners with their distressed property needs.

REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities. The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk.

What is a Short Sale?
A short sale occurs when a lender agrees to take less than the amount owed to payoff a loan as an alternative to foreclosure. Lenders know that it will cost them a significant amount of money to take a property back. The Realtors® at Rock Realty can often convince them that they will be better off financially if they sell the property now rather than taking the home through foreclosure and trying to sell it later. So, a short sale can actually be good for the bank. It can also be good for the home owner, as it is typically better to perform a short sale on their Evansville property instead of letting it proceed to foreclosure.

Short Sale Home Evaluation
Many home owners have preferred to first determine if a short sale is the right option for their Evansville home. I have set up an online form that is very simple to fill out. Upon completion, I can determine if a short sale with your bank is the most favorable option. Often, we find that simply listing your home for fair market value is the best first step.

Click here for a free Evansville WI Short Sale Home Evaluation

I wanted to bring your attention to a great tool available to you. Rock Realty's 'Mortgage Calculator', linked below, can help you with your important mortgage decisions. Whether you are buying new or refinancing, this tool can help you determine:

-Mortgage Payment
-Mortgage Principal
-Should I Refinance?
-Interest Only
-Affordability
-Paying More Each Month
-Real APR
-Payment Per Thousand
-Should I Pay Points
-How Much Income Do I Need?
-Rent Vs. Buy

and more...

Short sales and bank owned properties can offer a great price point to the savvy buyer or investor. Typically though, these homes do require some amount of work and repairs. I've found that many properties just need some cosmetic ‘touch ups' like paint and landscaping. Others however may need significant remodeling, including drywall, roofing or windows.

In any event, having a mortgage available that gives you the option of financing these repairs is a huge advantage. The two most common options currently in the market are the FHA 203K and the HomePath loans. The Zillow article below goes over the differences in each.

Regards
Michael Collins, SFR
Short Sale & Foreclosure Resource

If you are in the market to buy a home, chances are that you have seen at least one property that is either a short sale or a bank-owned property.

And based on what I have seen, many short sales or properties that are currently owned by the bank are in need of a few repairs before anyone can live in them.

Which is why I get quite a few questions about two of the most popular loan programs designed to help homeowners finance needed repairs on a new home: the FHA 203k program and Fannie Mae's HomePath mortgage program.

One of the more common quick questions I hear when people are learning about these loan programs is:

"Which is better, the HomePath mortgage or the FHA 203k loan?"

The simple answer to this question is "it depends" and before I give you a simple formula that might help you choose between the two programs, here is a quick review of each loan program.

The FHA 203k and FHA Streamline 203k Loans

The FHA 203k loan program can be grouped into two different types of loans: the FHA Streamline 203k loan program and the FHA 203k loan. The FHA 203k streamline is designed to be a limited repair program and has simpler processes and no HUD consultant required like on the full FHA 203k loan. In my experience, the FHA 203k streamline is a more popular option since many of the needed repairs for bank-owned homes can be considered "cosmetic."

Highlights of the FHA 203k streamline loan include:

• It works very similar to a construction loan - it allows you to purchase a home that wouldn't qualify for FHA financing due to repair work being needed
• The loan amount is equal to the purchase price of the home plus the amount needed for repairs
• FHA 203k streamline program allows for repairs ranging from $5,000 and $35,000
• Qualifying for FHA 203k loans are the same as regular FHA loans
• Repair work cannot begin until loan closes and the money to pay contractors comes from an escrow account set up when the loan closed
• FHA 203k loans require UFMIP and MIP just like regular FHA loans
• Appraisal required
• Currently available for owner-occupied properties only although I have heard rumors of an "Investor 203k loan" coming soon.

Fannie Mae HomePath Renovation Loan

When the housing downturn began and Fannie Mae started owning more homes than ever before, one of the things Fannie Mae did to help move the homes to new owners was to design the HomePath mortgage program.

The HomePath mortgage program has two different programs within it - the HomePath loan and the HomePath Renovation loan.

For homes that are in need of repairs, the HomePath Renovation loan is the loan program that is often compared to the FHA 203k loan when weighing options.

HomePath Renovation loan highlights include:

• The property must be currently owned by Fannie Mae
• The loan amount is for both the home and the repairs required for the home
• Repairs can be up to 35% of the as-completed value, but not to exceed $35,000.
• Down payment requirements can be as low as 3%
• Fixed or adjustable rates are available
• No mortgage insurance required
• Investment properties or 2nd homes and investment properties are allowed
• No appraisal required
• Lenders can be difficult to find, not every lender is HomePath approved and many HomePath approved lenders do not offer the HomePath Renovation loans

HomePath Renovation Loan or FHA 203k Loan?

When deciding on financing for a home that is in need of repairs, the Fannie Mae HomePath Renovation loan program and the FHA 203k loan program are what most people are going to select.

Is there an easy way to select the "right" loan between the two?

Yes.

Which Loan Program Is Better?

Here is a simple way to choose the right loan program between the two if you are buying the home as your primary residence:

• Is the home owned by Fannie Mae?If yes, it probably makes the most sense to get a HomePath Renovation loan.
• Is the home owned by someone other than Fannie Mae? If so, then your best option is the FHA 203k loan.

While both the FHA 203k loan and the Fannie Mae HomePath Renovation loan programs are similar, I have found that for houses owned by Fannie Mae it usually makes more sense to go with the HomePath Renovation loan.

Which means the first question you may want to ask is:

Is this house owned by Fannie Mae?

And then you will have your answer.

> Use Fannie Mae Loan Lookup tool

Justin McHood works for Academy Mortgage and is based in Chandler, AZ. He is a contributor to Zillow Blog and has conversations about mortgages whenever he can. Learn more about Justin at http://www.mortgagecommentator.com.