wisconsin homebuyers Archives

How to Start Your Search for Chetek WI Homes

October 19, 2018 by John F Leave a Comment

If you’re not fully prepared to navigate the real estate market in Chetek WI, it can be overwhelming— especially if you’re a first-time homebuyer. Don’t let your excitement about becoming a homeowner dwindle simply because you’ve not gotten the basics out of the way up front. It helps to know the facts from the beginning of your home search, as well as have a local real estate expert on your side, like our team at Six Lakes Realty!

Below are four ways to start your home search on the right foot in Chetek WI:

Get Pre-approved
This should always be your first step when shopping for homes in Wisconsin. Even if the market begins to slow down, you will be able to better understand your budget and whether or not your dream home is within your reach. Not to mention, this documentation tells sellers that you are serious—and financially able—about following through with the purchase!

Know What to Compromise On
Make a list of what you absolutely need in a home and what you’d be willing to compromise on before you even set out to tour homes in Chetek. Do you need four bedrooms, but would be willing to compromise on the number of bathrooms? Do you need a large backyard, but could do without the updated light fixtures for now? Get these things out of the way first and you’ll enjoy a more streamlined search.

Research Location
Start your home search off in the neighborhoods you’d like to live in. Not only will this save time for both you and your real estate agent—you won’t waste your time touring properties in the wrong areas—but it could allow you to be the first offer on a home you would have otherwise waited to see!

Keep a List of Homes You Like
Once you’ve started to visit properties in Chetek WI, everything can start to feel like a blur. Keep a list of the properties you’ve visited and highlight those you actually like. You may even want to go so far as to make a pro and con list to narrow down the homes further.

Start your home search today with our team at Six Lakes Realty and avoid the common frustration under-prepared buyers feel! Give us a call today for more information about available properties in the City of Lakes!

We look forward to hearing from you!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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Buy a Chetek WI Home Now or Wait Until Next Year?

October 5, 2018 by John F Leave a Comment

The question on every homebuyer mind as we head toward the end of 2018 is whether or not to buy a home now or wait until next year. In a recent blog post, we shared why this fall is a great opportunity to purchase your dream home in Chetek WI, but one other reason worth noting? It could cost you much more in the long run if you wait to buy until 2019.

Below is a helpful infographic from Keeping Current Matters to help you see why you shouldn’t wait until next year to buy a home in the City of Lakes:

Key Takeaways:

Freddie Mac predicts interest rates to rise to 5.2% by the third quarter of 2019.
CoreLogic predicts home prices to appreciate by 5.1% over the next 12 months.

Timing is key in real estate, especially when it comes to buying a home! Let Six Lakes Realty be your guide to the real estate market and help you find your dream home before both interest rates and home prices rise again.

Give us a call today!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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4 Reasons to Buy a Home in Chetek WI This Fall

September 21, 2018 by John F Leave a Comment

New season, new opportunity to start fresh in a new Chetek WI home! While you may think of summer as the busy real estate season, that doesn’t mean your time to buy is up once fall rolls around. Now is actually one of the best times to buy a home in the City of Lakes, and as your local real estate experts, we’ve outlined four reasons why below!

Mortgage rates are expected to rise
While they may still be hovering around historic lows, mortgage rates won’t stay this way forever! In fact, 30-year mortgage interest rates have already increased half a percentage point and are expected to rise again over the next 12 months. By this time next year, projections have rates around 5.1% which means you’ll end up paying more for a mortgage if you wait to buy!

Home prices are rising
Many Chetek WI residents are wondering where home prices will go over the next year and the answer is UP! According to CoreLogic’s Home Price Insights report, home prices will continue to rise at a rate of 5% over the next year!

You’re paying a mortgage either way
It may not have occurred to you to think of it in these terms, but no matter if you rent or buy, you’re still paying a mortgage! If you buy a home, it’s your own mortgage, whereas if you rent, you’re paying down your landlord’s mortgage. Homebuyers do have the benefit of building equity once they’re in their new home, which can help you build your family’s wealth, but renters are essentially helping their landlord build his.

Winter is coming
While it’s true that real estate deals are made regardless of the season, you’ll want to take into account that the busy holidays are coming— along with the snow and cold of a Chetek winter! Ask yourself if you’d prefer to take advantage of market conditions now while the weather is still favorable for a move or pack up and move homes when the temperatures aren’t so nice!

Don’t sit around and wait for the market to change with the fall colors, now is the time to act! Give Six Lakes Realty a call today to get started on your Chetek area home search!

We look forward to hearing from you!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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4 Ways to Get Your Chetek Mortgage Application Rejected

August 10, 2018 by John F Leave a Comment

Once you’ve found your dream home in the City of Lakes, the next step—considering you’ve already been pre-approved—is submitting your mortgage application. Your Chetek WI lender will look at a variety of factors, including your income, your credit score, and how long you’ve been at your current job before giving the green light for your mortgage loan and allow you to purchase a home.

But that doesn’t mean you simply send in the documents and wait for approval. There are several quick and easy ways to end up with a rejected application and stall the buying process. As your local real estate experts, Six Lakes Realty has outlined four of these ways below in order for you to avoid them and keep your home purchase moving:

Opening a new credit card
One rule of thumb when planning to buy a home in Chetek—or anywhere, for that matter—is to avoid opening any new lines of credit. New credit applications can ding your credit score which is the last thing you should do when trying to obtain an approval from a lender. Even if your lender gives you a verbal affirmation that your application looks great, avoid opening a credit card until after the closing.

Changing jobs
Keep in mind that mortgage lenders like to see at lease two years of consistent employment before approving your application. While it is not always your choice to change jobs, if you’re able to hold off until after your closing to make a career move, that is always best.

Not enough credit
It may seem contradictory, but using credit cards can help you on a mortgage application by establishing a credit history. Your credit history shows that you can manage debt and allows lenders insight into whether or not you pay your debts on time. While poor credit can put you in the red when trying to buy a home in Chetek, little or no credit can be just as detrimental.

Missing a bill
As I mentioned above, late payments can have a negative impact on your credit score and in turn, raise red flags to lenders. What’s worse, if you default on a bill, it could be turned over to a collection agency who will then notify credit bureaus of the outstanding debt. If you can pay in full, by all means do, but if you cannot, consider working with the debtor (whether it be a hospital or doctor’s office) on a payment plan.

Ready to begin the home purchase process? Give Six Lakes Realty a call today!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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4 Things to Pay Attention to When House Hunting in Chetek

July 13, 2018 by John F Leave a Comment

The real estate market is booming, home values and interest rates are rising, and buyers are out in droves looking for their dream properties in Chetek. All of these may fuel your Chetek WI home search, giving you a push toward making a decision and committing to a property before market conditions turn around. However, there are also a few home features to take note of that will make a big difference once you’re moved in.

Below are four things you won’t want to avoid during your Chetek area home search:

Bedroom Placement

As a homebuyer in today’s market, your search parameters will help you narrow down homes that meet your requirement for number of bedrooms. But one thing you may not be too quick to pick up on when touring the property is the placement of those bedrooms. Are all of the bedrooms upstairs? Or is the master on the main floor? Take note when you arrive.

Lot Terrain
When touring homes in Chetek, pay attention to the lot the home is on. Is the lot sloped? Or is the lot completely flat? This will play a part in the home’s maintenance, including mowing the yard, and if you have kids, whether or not they can play in the yard or even ride bikes.

Sidewalks
You may not even notice whether or not a neighborhood has sidewalks when you tour a home, but they are an important factor— especially for families. Sidewalks provide an added safety buffer between your home or yard and the street, as well as invite you to take walks.

Sight Lines
Does your new home in Chetek have a great outdoor space? It might mean even more to you if you can see it from inside. Pay attention to sight lines within a home. For instance, if you can see through to the yard from the kitchen or living room. Can you cook while watching your family outside? It may seem small now, but after you move in, you’ll be glad you noticed!

Ready to start your Chetek WI home search? Give Six Lakes Realty a call today! We’re here to help you find your dream home that checks all of the boxes!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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Home Staging or Hiding? What to Look For in Chetek Homes

June 28, 2018 by John F Leave a Comment

As you browse Chetek WI homes for sale this summer, you may be distracted by features like floor plan, outdoor space, and of course, the location. And while it is important to take note of such items on your home buyer wish list, you will also want to keep your eyes open for minor flaws—or worse, major issues—that may be covered up by staging.

Below are four signs that a home seller may be trying to hide something with their home staging:

Painted Floors
Even if you have pets yourself, you may not want to move into a home and pay for someone else’s pet damage. If you happen to pull up the carpet and notice paint on the floor, it could be covering pet damage.

Rugs
They may be excellent decor items, but rugs and runners can also hide warped floors or as mentioned above, pet damage. Walk along the rugs several times, paying attention to how the floor feels. If it feels unstable, buckles, or cracks, it is probably worth diving into to check for structural problems.

Furniture Placement
If the furniture placement feels off, it could be hiding a flaw underneath or around it. It’s worth looking closer to check for potential problem areas. What’s more, you’ll want to note the size of the furniture or appliances during your showing or open house. Perhaps the washer and dryer in the home are smaller than yours or your furniture is larger than what the property is staged with and may not fit.

Listing Jargon
When looking over a real estate listing, either online or via a flyer in person, pay attention to the jargon used. Phrases like “low maintenance,” “fixer upper,” “quaint,” and “cozy,” can be euphemisms for small properties that need a good amount of work.

Contact Six Lakes Realty today for more information about buying a home in Chetek or for a list of available properties in the area!

We look forward to hearing from you!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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How to Tell If You’re in a Buyer’s or Seller’s Market in Chetek

April 19, 2018 by John F Leave a Comment

Now that spring is here, both Chetek homeowners and buyers alike tend to start thinking about making a move. But how do you know if the real estate market is leaning in your favor? Are there signs to watch for that will tell you if it’s a buyer’s or seller’s market? The answer is yes and as your local experts in the City of Lakes, we’re happy to share a few of them with you below!

Days on Market
Often referred to as DOM, this number can easily be found on any listing. By taking a look at this figure, you can determine if you’re in a buyer’s or seller’s market as the higher the number, the more likely you’re in a buyer’s market. In a seller’s market, homes will sell quickly, anywhere from 7 to 10 days.

Home Prices
When home prices in Chetek are on the up and up—rising over time—you can be certain you’re in a seller’s market as a higher price tag would favor the home seller. You can always count on Six Lakes Realty to provide you with an up-to-date valuation of your home, so do not hesitate to contact us if you have questions about your home’s worth.

Asking Price vs. Final Price
To determine what type of real estate market you’re in, pay attention to recently sold homes in your area and the asking price of the property versus the final sales price. If the final sales price is what the sellers were asking or more due to a bidding war, you are indeed in a seller’s market. It is when the final sales price is less than the asking price that would typically signal a buyer’s market.

Wondering what your Chetek WI home is worth in today’s market or ready to start a home search in the area? Give Six Lakes Realty a call today for more information! We’re here to help!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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4 Things to Ignore When Shopping for a Chetek WI Home This Spring

March 23, 2018 by John F Leave a Comment

As you begin to shop for homes in Chetek WI this spring, you’ll likely run into a few features that aren’t your favorite. From paint colors to layout, these features may catch your eye, but it’s important to know what you can ignore, what’s worth compromising over, and what you should be concerned about in your potential home.

As your local real estate experts in Chetek, you can count on Six Lakes Realty to make sure you’re prepared for everything you may encounter during your home search and what truly matters. Below we’ve included four things you can ignore as you start house-hunting this spring:

Wallpaper
Even if you prefer a home that’s move-in ready, don’t be too worried about wallpaper or even odd paint colors in a Chetek WI home. Removing wallpaper and repainting can be completed prior to your move-in date and doesn’t always have to be expensive. In fact, this may be one of the easiest home projects to tackle in the grand scheme of being a homeowner.

Carpet
Your ideal flooring is just a few hours (or days, depending on the flooring) of work away, so try not to get too distracted by old carpet that may not suit your tastes. If you know the home has hardwood floors underneath the carpet, it will be a quick project to uncover them, and if not, there is the option to have new flooring installed before you move in.

Rooms with Different Uses
Maybe you’re touring a Chetek WI home and find one of the bedrooms has been turned into a walk-in closet. Or perhaps one of the closets is being used as an office. Regardless of the current use of the room, know that it can always be changed back to its original purpose. If you encounter one of these rooms while house-hunting, it’s best to keep an open mind and remember that craft room is actually another bedroom.

Personalized Decor
While it is encouraged that homeowners essentially remove themselves from the property—meaning putting away family photos, diplomas, and the like—not all of them do prior to showings. If you love the property, don’t let this personalized decor cloud your judgment. Pay attention to the bones of the home itself, as well as the location, as these are the features you can’t change.

Ready to find the perfect home in the City of Lakes? Give Six Lakes Realty a call today for more information about available properties and steps you can take to prepare to buy!

We look forward to hearing from you!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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5 Ways to Compete Against Chetek WI Cash Buyers This Spring

March 9, 2018 by John F Leave a Comment

We still have a few more weeks until it’s officially spring here in the City of Lakes, but that doesn’t mean the real estate market is holding back until then! More buyers are out looking for their Chetek WI dream homes as mortgage rates continue to rise and properties become available. However, even if you’ve found the ideal home, you may find yourself up against a cash buyer and need to make your offer stand out in order to have it accepted.

As your local real estate experts in Chetek, we’ve listed 5 ways you can compete with cash buyers this spring:

Don’t leave anything out
When working with your lender, don’t leave out any documents or withhold any information that may slow down your mortgage approval. Even with your offer, you might like to consider sharing how much you make, your credit report, and even provide bank statements that show your account balances. This gives the seller peace of mind that you can follow through with the deal and shows your offer is just as good as cash.

Move up the appraisal
One of the most important steps in the process is the appraisal and in some areas, lenders can have an appraiser at the property in as little as two weeks. Ask your lender how long it will take to have the appraiser sent out and if possible, move up the date.

Move up the inspection
Next to the appraisal, the inspection is a crucial part of the real estate transaction. If you are able to have your inspection scheduled within a few days of having your offer accepted, the seller can rest assured that they made the right decision in choosing your offer.

Be personal
It has become more popular in the past few years to include a personal letter with your offer to introduce yourself and your family to the seller, allowing them to get to know you. While this is not a guarantee that your offer will be accepted, it couldn’t hurt if you feel strongly enough about the home. Tell the seller your intentions with the home, what you love about it, and why it’s perfect for you.

Offer more
Cash buyers often make lower offers since they have no financing to secure and there are no hurdles for either party to jump through to close the deal. When you’re competing against these cash buyers, one way to make yourself stand out is to offer slightly more. Depending on how much you need to increase your bid to top the cash offer, it likely won’t translate to much more per month over the life of your loan.

The real estate market is beginning to heat up for spring, so do not hesitate to contact us for more information about homes for sale in Chetek WI or next steps to take as a new buyer.

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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The Changing Tax Benefits of Owning a Chetek WI Home

February 22, 2018 by John F Leave a Comment

By now, you’ve likely heard that the new tax plan may affect the tax benefits of owning your home in Chetek WI. There will indeed be changes concerning mortgage interest, property taxes, and even a home equity line of credit (HELOC), so be sure to read on for a brief rundown of what you can expect in the coming year as a Chetek WI homeowner.

Mortgage Interest

Mortgage interest is one of the more significant benefits of owning a home in Chetek and the way it is currently set up allows homeowners to deduct interest on a mortgage of up to $1 million. Next year, the new tax plan will allow homeowners with a mortgage in place before December 15, 2017 to still deduct interest on a mortgage of up to $1 million. For any mortgages in place after that date, there is a new cap on mortgage interest of $750,000 for all homes owned— first, second, and additional properties.

Property Taxes

For your 2017 tax return, most homeowners will be able to deduct property taxes. However, next year, property taxes will not be a separate deduction. Homeowners can instead take one deduction that will include property taxes, in addition to state and local sales taxes, and income taxes. This one deduction will have a new cap of $10,000 for married couples filing jointly.

Energy Efficiency Updates

Homeowners in Chetek WI who installed energy efficient upgrades, for instance new appliances, previously could take a deduction for the expenses. However, these tax credits expired after December 2016. If you installed solar electric or solar water heating equipment, you are still able to take a deduction through December 31, 2021, but on next year’s tax return, the date of installation will vary your credit percentage.

For installations between January 1, 2017 and December 31, 2019, 30% of the expenses are eligible for credit. For those between January 1 and December 31, 2020, the percentage decreases to 26% and for those between January 1 and December 31, 2021, down to 22%.

Home Equity Line of Credit Interest

For Chetek WI homeowners who took out a home equity line of credit (HELOC) in 2017 or before, you can deduct the interest from that loan, regardless of what you used it for— from college tuition to home renovations. Next year, the new tax plan will only allow this deduction if the HELOC was used to buy, build, or improve a property.

There are still significant perks to being a homeowner in Chetek WI and as you’ll note, the real estate market is always changing! With spring just around the corner, now is a great time to inquire about how much your home might be worth! Give Six Lakes Realty a call today to find your home value, or for a list of available properties on the market.

We look forward to hearing from you!

John Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com

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