Another offer on a house

[pOrk]

Not that anyone cares, but I finally found a place in Brookfield with a 2+ car garage in my price range. The price dropped 38 grand today, so I put another over asking price offer and should hear back my Friday

Mom called me today after watching house hunters and said the average couple looking to buy a house looks at between 3 and 7 houses before buying. I wish that was the case, I would be moved in and have the place half way remodeled by now This is the 5th property I have had enough interest in to write an offer, and this is the 3rd that I've had to write an offer over asking price. I'm hoping this time around that I was fast enough on the draw, and contingency free should be a huge help since it is a forclosure and been on the market at the previous price for 209 days. Wish my luck

[Holeshot]

Eric the general rule of thumb is to offer 10 % lower and let them counter. Yeah the housing market is picking up a tad but it does every spring. don't bid over it makes you look desperate and willing to make unnecessary sacrifices to the owners. Take your time and let the owners come to you.

[pOrk]

^ That rule only applies to a standard home sale, this is a foreclosure that is priced to sell.

I don't want to disclose the numbers until the offer is accepted online, but its cheaper then it should be to begin with.

[hrsp]

Good luck!!!!!!!!!!!

[wrath]

Are you still looking in that area you were looking before? I think I know the house you're eyeballing. I don't want to say which neighborhood in case someone else on here tries to snipe it. It's a pretty nice one for the dollar amount. Good luck.

When I've tried to buy action-priced homes I always lose it to some schmuck with a cash offer. Last house someone paid $10k less than asking price with a cash offer and I offered $25k more than them.

You should watch the foreclosure sales at the county courthouse. It'll give you ones to watch for hitting the market. Only problem is that banks aren't listing them right away as the market is flooded with foreclosures. Our target neighborhood has three listed foreclosures right now and there are nine sitting vacant already foreclosed on. But there's probably only 200 houses in the whole neighborhood.

Eric the general rule of thumb is to offer 10 % lower and let them counter. Yeah the housing market is picking up a tad but it does every spring. don't bid over it makes you look desperate and willing to make unnecessary sacrifices to the owners. Take your time and let the owners come to you.

I've tried that. I get ignored or at best rejected. Now I wait until they drop their price and offer them 5% less than asking. Then they usually counter something stupid and I walk away.

[michelle]

Best of luck! Hope you get it!

[jbiscuit]

hope you have a hefty reserve of cash ready to go through that entire house. They can turn into a good investment if you are willing to do all the labor, just be prepared.

[Exitspeed]

Good luck. It is a great time to buy these foreclosures...as long as your handyand you have a lotta cash aside to remodel them.

My wife has showed sooooo many of these houses and people (not saying you Pork, just people in general) don't realize what they are getting into. I went with her to show a couple for a second time a house in East Troy. It needed A LOT of work. Plus it had a in ground pool that they removed the filtering system. The bank said they would credit the buyers $5k for a new one, but the thing could cost $10,000 and the buyer would have to pay the rest.

And 3-7 is on the low end now-a-days. Reason why is because buyers are being OVERLY picky. Sure there's great deals out there, but a lotta people are expecting a Fox Point mansion for the price of a Milwaukee bungalo and that is still not the case out there. Hell my wife has showed people LITERALLY multiple dozens of homes. To make it worse is she's showed people 12+ homes and then they didn't even buy. THAT sucks and it's frustrating. But that's the business.

[95 TA - The Beast]

Wow, that is the first time I heard anyone try to get sympathy for a real-estate agent... Then again it is your wife and understandable, but, at the same time, you have GOT to be kidding me that people are just being TOO PICKY???!?!?!

I say SCREW THAT!

People spend a TON of money on a house and if all things aren't EXACTLY what they want for what they want to spend, then who is ANYONE to bitch about it???

I understand it is your wifes job and income for her, but if the homes are NOT what these people want then too bad.

That is what I hate about agents, salesman, dealers, etc, in that they just want to make a buck, could care less if you are getting the best for your money (and usually it is in THIER favor if you are NOT), and/or what you really want, and then you hear these schmucks bitch and moan if they can't make the sale.

I have ZERO problem with people making money off of putting effort into making a sale, but FAR too many times it is a matter of making TOO MUCH and delivering TOO LITTLE, or putting minimal effort in and still making a hefty commission.

Your comment about people being "too picky" is a PRIME example of that. Now, there is no control by your wife as to what houses are available, and she is doing the best she can, no doubt, but to bitch because the houses aren't what people want???

I guess that is why it is called the 'free-market' and rarely is it a 'fair-market'???

[4eyedstang]

I just got an excepted offer after shopping for a house for about 6 months. this was our 7Th offer and I just found out yesterday at the bank that interest rates are on the rise i just locked in @ 5.75% a month ago it was 4.5%

[pOrk]

Are you still looking in that area you were looking before? I think I know the house you're eyeballing. I don't want to say which neighborhood in case someone else on here tries to snipe it. It's a pretty nice one for the dollar amount. Good luck.

When I've tried to buy action-priced homes I always lose it to some schmuck with a cash offer. Last house someone paid $10k less than asking price with a cash offer and I offered $25k more than them.

You should watch the foreclosure sales at the county courthouse. It'll give you ones to watch for hitting the market. Only problem is that banks aren't listing them right away as the market is flooded with foreclosures. Our target neighborhood has three listed foreclosures right now and there are nine sitting vacant already foreclosed on. But there's probably only 200 houses in the whole neighborhood.

I've tried that. I get ignored or at best rejected. Now I wait until they drop their price and offer them 5% less than asking. Then they usually counter something stupid and I walk away.

Thats how I missed out on a few of my offers, I had the better offer but investors have big cash with a heavy loaded offer and it takes me out almost every time. This house needs flooring, a roof, and some fancy paint work. Not bad considering its well below assessed, being it has no basement I think that will work to my advantage since MOST people in this area want / look for / need a basement for storing all of their crap. Lucky for me, if I don't use something anymore I sell it instead of store it so I don't need all the space

hope you have a hefty reserve of cash ready to go through that entire house. They can turn into a good investment if you are willing to do all the labor, just be prepared.

I'm a laborer by trade, I can do anything and anything I don't know I can learn. This place will probably need 10 grand invested before I would be happy living there, and I sold all my toys to have the money I will need to make a house my home so I should be good to go.

Good luck. It is a great time to buy these foreclosures...as long as your handyand you have a lotta cash aside to remodel them.

My wife has showed sooooo many of these houses and people (not saying you Pork, just people in general) don't realize what they are getting into. I went with her to show a couple for a second time a house in East Troy. It needed A LOT of work. Plus it had a in ground pool that they removed the filtering system. The bank said they would credit the buyers $5k for a new one, but the thing could cost $10,000 and the buyer would have to pay the rest.

And 3-7 is on the low end now-a-days. Reason why is because buyers are being OVERLY picky. Sure there's great deals out there, but a lotta people are expecting a Fox Point mansion for the price of a Milwaukee bungalo and that is still not the case out there. Hell my wife has showed people LITERALLY multiple dozens of homes. To make it worse is she's showed people 12+ homes and then they didn't even buy. THAT sucks and it's frustrating. But that's the business.

I had a realtor tell me I was being too picky, so I dropped her like a turd in a port-a-john. No offense, but its not my fault the realtor is showing me properties that have NONE of the things I have told him/her I am looking for, nor is it my fault that half of these houses have foundation problems that I really don't want to deal with, especially since alot of them are at the top of my budget to begin with. I've looked at over 40 houses, maybe 50. I have been through 4 different realtor's because from my expierence, none of them want to listen to help me find MY home. They want to sell you something they can make money on, which is NOT in my best interest.

I am working with Barb Miller of Shorewest right now, using my loan agents recomendation and she is easily the best realtor I've had so far. The hardest part with real estate IMO is finding a realtor that is going to work FOR you.

[pOrk]

Thanks for the good luck wishes, I need them! I am getting sick of seeing all the dumps in Waukesha, Brookfield, Stallis, Tosa, Greenfield, blahblabl...

[Exitspeed]

Wow, that is the first time I heard anyone try to get sympathy for a real-estate agent... Then again it is your wife and understandable, but, at the same time, you have GOT to be kidding me that people are just being TOO PICKY???!?!?!

I say SCREW THAT!

People spend a TON of money on a house and if all things aren't EXACTLY what they want for what they want to spend, then who is ANYONE to bitch about it???

I understand it is your wifes job and income for her, but if the homes are NOT what these people want then too bad.

That is what I hate about agents, salesman, dealers, etc, in that they just want to make a buck, could care less if you are getting the best for your money (and usually it is in THIER favor if you are NOT), and/or what you really want, and then you hear these schmucks bitch and moan if they can't make the sale.

I have ZERO problem with people making money off of putting effort into making a sale, but FAR too many times it is a matter of making TOO MUCH and delivering TOO LITTLE, or putting minimal effort in and still making a hefty commission.

Your comment about people being "too picky" is a PRIME example of that. Now, there is no control by your wife as to what houses are available, and she is doing the best she can, no doubt, but to bitch because the houses aren't what people want???

I guess that is why it is called the 'free-market' and rarely is it a 'fair-market'???

Thats how I missed out on a few of my offers, I had the better offer but investors have big cash with a heavy loaded offer and it takes me out almost every time. This house needs flooring, a roof, and some fancy paint work. Not bad considering its well below assessed, being it has no basement I think that will work to my advantage since MOST people in this area want / look for / need a basement for storing all of their crap. Lucky for me, if I don't use something anymore I sell it instead of store it so I don't need all the space



I'm a laborer by trade, I can do anything and anything I don't know I can learn. This place will probably need 10 grand invested before I would be happy living there, and I sold all my toys to have the money I will need to make a house my home so I should be good to go.



I had a realtor tell me I was being too picky, so I dropped her like a turd in a port-a-john. No offense, but its not my fault the realtor is showing me properties that have NONE of the things I have told him/her I am looking for, nor is it my fault that half of these houses have foundation problems that I really don't want to deal with, especially since alot of them are at the top of my budget to begin with. I've looked at over 40 houses, maybe 50. I have been through 4 different realtor's because from my expierence, none of them want to listen to help me find MY home. They want to sell you something they can make money on, which is NOT in my best interest.

I am working with Barb Miller of Shorewest right now, using my loan agents recomendation and she is easily the best realtor I've had so far. The hardest part with real estate IMO is finding a realtor that is going to work FOR you.

Lol. She doesn't need anyone's sympathy. My wife is a top producer in the state. She's in the top 8 percent or something last time she checked. She does her job better then 99% of Realtors out there because she goes that extra mile. Especially with new buyers that need the attention. This is one of the reasons she was ONLY down a million from the previous year. This year she's actually ahead of a lot of even higher producers that she never thought she would see.

I'm not saying my wife would not show someone 25 homes because, trust me, she does. I was merely putting her job in my perspective. And I was comparing buyers now versus 5 years ago. It's totally different right now. That was my main point.

I also never said she "bitches" about people looking at too many homes.

There's a looottta shitty real estate agents out there. I feel bad for a buyer that doesn't know someone personally that is good because you can waste valuable time with a shitty agent.

You should get a good deal. No doubt about that. I'm just saying, some people are expecting Fox Point mansions for the price of a Milwaukee bungalow. Which, even in this market, is not realistic.

[97z2801ss]

eric where in brookfield is it?

[wrath]

That basementless house is a bit more than you wanted to spend, no? There aren't many to choose from that aren't modulars in Waukesha.

If this one falls through, have you looked at the one on Bel-ayr in Waukesha? You don't seem to be afraid of work and it needs a lot of work. There is one on Sherryl also.

The whole mortgage rates jumping up thing has me kind of down. Was looking at a $225k house in west Waukesha with $4700 in taxes that would work for us. But that's going to be $1200/month plus $400/month for taxes. Renting half a duplex is starting to look more enticing again.

[PB86MCSS]

I think more people look between 10-20 homes....3-7 even in a great market or economy is way low, IMO.

[LIL EVO]

I looked at four houses on the first "day" of searching with my buyers agent. Picked the third one and signed the paperwork the same day. Been here two years and have no regrets!

[Lash]

I have been through 4 different realtor's because from my expierence, none of them want to listen to help me find MY home. They want to sell you something they can make money on, which is NOT in my best interest.

I am working with Barb Miller of Shorewest right now, using my loan agents recomendation and she is easily the best realtor I've had so far. The hardest part with real estate IMO is finding a realtor that is going to work FOR you.

Did you try the one I recommended?

[88Nightmare]

shit, 11 years ago when my folks were shopping for a house, they looked at over 6 houses as I recall. That was 11 years ago

[buttersgt350]

That basementless house is a bit more than you wanted to spend, no? There aren't many to choose from that aren't modulars in Waukesha.

If this one falls through, have you looked at the one on Bel-ayr in Waukesha? You don't seem to be afraid of work and it needs a lot of work. There is one on Sherryl also.

The whole mortgage rates jumping up thing has me kind of down. Was looking at a $225k house in west Waukesha with $4700 in taxes that would work for us. But that's going to be $1200/month plus $400/month for taxes. Renting half a duplex is starting to look more enticing again.

i live right down the road from the one on bel-ayr. is it the one with the 1 car garage almost under the house? if so i do think it needs alot of work. good luck finding a house.