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| July 2008 |
What’s up with Mortgages? Things you should know
As you are no doubt aware, it’s a new day in the life of mortgages. Money is available, rates are good but the rules to obtain a mortgage have changed dramatically and continue to change on a regular basis. This, as you can imagine, is taking some time for everyone involved to get used to. Here are a few quick things you may want to know about mortgages today.
- The new sub prime is FHA ( Federal Housing Administration ). You need to deal with an FHA lender to get these loans.
- The ceiling for conventional loans here is $417,000.
- Loans above $650,000 are available but in very short supply. Be careful.
- Previously credit scores of 620 were very acceptable… today it’s 720.
- As your credit scores go down from 720 the “fees” to obtain a loan will increase.
- Sellers may give credits for financing up to 6% to help buyers purchase their home .
- Loans with less than 10% down, while available, will generally include a significant increase in fees.
So what do we do?
If you’re a Buyer:
- Use a reputable and knowledgeable lender & lending institution in the area you’re buying (check with your Realtor® for recommendations ).
- Be sure to get a pre qualified right away.
If you’re a Seller:
- Ask for a pre qualification letter from your buyer.
- Be prepared to accept an offer that asks you to pay for some of the buyer's financing fees.
- Be patient through the process.
Keefe is the Sales Leader in Walworth CountyKeefe Real Estate has been recognized as the leading real estate company in Southeastern Wisconsin for many years. Sales results for the first half of 2008 from the Multiple Listing Service (MLS) show that Keefe Real Estate is still the sales leader in Walworth County. Whether buying or selling, partner with Keefe to Get Results!
This chart combines “sold” listings of all office locations and independent offices of each multi-office or franchise organization identified. It includes listings which were sold by such organization itself, or with the aid of a cooperating broker for Walworth County and time period indicated, according to data by the Multiple Listing Service, Inc. This representation is based in whole on data supplied by the MLS. MLS, Inc. does not guarantee or is in any way responsible for its accuracy. Data maintained by the MLS, Inc. may not reflect all real estate activity in the market. Top |
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It's not too Late to Plan your Summer Getaway! |
There are several new properties, including lakefront properties, that have just joined Keefe Rentals. Check them out, as well as the popular classics that so many have enjoyed for years, on our website: www.keeferentals.com. Keefe Rentals offers an array of private homes, lake access, lakefront, townhouses, and condos to suit your vacation needs. We also provide properties for long-term rentals, whether relocating to the area or temporarily moving due to a construction project delay. Search our inventory to find the property that suits all your needs. We can also assist with long-term rentals, whether relocating to the area or undergoing a remodel project, we have 3-12 month rentals available. Our properties span the area of lakefronts on Lake Geneva, Lake Delavan, Lauderdale Lake, Whitewater Lake, as well as Abbey Springs and Geneva National private resort communities. To view the virtual tours, pricing, and details, visit www.KeefeRentals.com or call our specialists today for rates (866) 818-8637. Top |
Lake & Country Magazine
It’s never too late to make your summer plans to visit the Lake Geneva area! Let us be your escape for the summer season.
Title TipsOne Way to Eliminate Probate on Real Estate Property in the State of Wisconsin Wisconsin Statue 705.15 allows an interest in real property that is solely owned, owned by spouses as survivorship marital property, or owned by 2 or more persons as joint tenants to be transferred without probate to a designated beneficiary upon the death of the sole owner or the last to die of the multiple owners. This is referred to as a Transfer on Death (TOD) Clause which is incorporated on a conveyance deed. Upon the death of the owner(s), the property can pass to the named beneficiaries. This not only eliminates probate, but also allows the owner (grantor) to keep control of their property during their lifetime and this transfer may also be amended or revoked by the owner at any time prior to their death. Please be aware though that this Transfer on Death beneficiary designation is not effective unless the deed on which the designation is made is recorded with the Register of Deeds in the County where the real estate is located. For more specific information and advice on this subject, we recommend that you seek legal counsel. At Southeastern Wisconsin Title Company, LLC, we provide a wide range of services in addition to closings. Please ask us about our 1031 Exchanges and Construction and Escrow services. We are Insuring Your Investment and strive to create a quality experience for you as we guide you every step of the way. Call Audra Buggs, President, at (262) 723-5566 or visit www.sewt.net. Top |
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Chaucer Woods
Chaucer Woods of Bristol is a unique development with conservation in mind. Offering 42 home sites with bike & nature trails, and a well planned conservation areas with community parks. Visit Chaucer Woods and select your home site, only 17 lots remain. Independent builders are welcomed!
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Sugar Creek Preserve
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Woodstone Prairie Offering 5% Credit
 Geneva National Updates
The Geneva National Golf Club offers 54 holes of championship golf on three signature courses designed by golf legends Arnold Palmer, Lee Trevino, and Gary Player. Open 7-days a week; visit the Keefe Real Estate sales office at the entrance of Geneva National. For additional information on furnished models or to schedule your appointment, please call 888-356-3084 or visit www.GenevaNational.com. Top |
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Meadowview Estates
For more information, please call Keefe Real Estate at 800-836-6927. |
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Blue Stem MeadowsEnjoy the tranquility of the northwoods just minutes from shopping, schools, and lakes. Subdivision offering nature trail and creek. 4+ acre homesites available. For more information, please call Keefe Real Estate at 800-690-2292. |
The Oaks of Delavan LakeSurround yourself in the tranquility of The Oaks of Delavan Lake offering 16 heavily wooded home-sites giving the feeling of seclusion yet minutes from fabulous local shopping, golf, and Delavan Lake. Come choose your home-site today!
For more information, please call Keefe Real Estate at 800-690-2292. |
Dates to RememberJuly 17 July 20 July 26 & 27 July 26 August 2 August 2 & 3 August 3 August 7 August 9 August 13-17 August 16 August 21 August 22-24 August 27 - September 1 |
keefe@keeferealestate.com ©2008 Keefe Real Estate · PO Box 460 · Lake Geneva · WI · 53147-0460 |
The sales center is open during road construction. Highway 50 is open to Geneva National coming from the east. If you are coming from the west or north, take Highway 67 South into Williams Bay, East on Geneva Street , North on Harris then West on Highway 50 to Geneva National.
Enjoy the natural surroundings of Meadowview Estates. A conservation neighborhood of 35 lots, Meadowview will provide an abundance of inspiration in creating your home of distinction. In keeping with a philosophy of conservation, the homes, individually designed for each lot, will be sited for privacy. Located halfway between Lake Geneva and Fontana, Meadowview Estates has quick access to highways to Chicago and Milwaukee. From downtown Lake Geneva, follow 120 South to Highway BB, then West on South Lakeshore Drive.
10 plans to start your new home search with which can then be customized to your individual style and needs. Armor Homes is a semi-custom builder with homes starting in the $240’s. The Highlands of Lake Geneva includes 45 home sites with many backing up to trees, open space, and a pond. Also for a day of family fun with the kids, ride the bike path that runs through the neighborhood and continue on to the connecting bike paths that run through Lake Geneva.