Author: austinsolomon

Real Estate, Seasonality

Is fall a better time to buy?


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This summer has been exceptionally hot in our local Central Wisconsin real estate market, so hot that some buyers have decided not to compete and drop out of the search.

That leads some buyers to ask is fall a better time to buy a home? If you are considering a move, when is the best time to buy?

That question depends on the motivations and desires of the buyer.

For a family that wants to get settled before a school year starts, summer is ideal to relocate before the school year begins. As we all know, with remote learning increasing because of the pandemic, this has broken down that barrier slightly this year – which is not typically.

Traditionally, in a fall market, the summer craziness has died down… and there are less buyers in the market looking for a home. You don’t have to move quite as fast on locking down a good home, you don’t often have as many offers (although well-priced homes may get multiple offers – the number of offers you may be competing with is often less).

To give you an example, in the month of a July, an appropriately-priced home between $150-$200K may receive 3-5 offers within a couple days of hitting the market.

Right now, in October, that same home may get 1-2 GOOD offers in a couple of days or the first week or so. I want to stress GOOD, because they are not bad offers, there are just fewer in number. Homes are still selling and they are still selling for a GOOD price. The number of clients / hype of the summer market in our area doesn’t last through the entire year, maybe the year we don’t get snow from December – March.

As a buyer, these seasonal changes can actually be quite helpful. If you’ve been on the fence for awhile, but are thinking about getting back into the market, now may be your chance! Connect with a Realtor on our team to learn how you can get started on your search. It may be less stressful looking during the fall months when less buyers are considering a move and being able to get settled into a new place before the snow flies!

As a seller, it’s a great time to evaluate your goals for your sale and think through the timing to capture the best audience. Our team is happy to help walk you through our techniques for all seasons. (Plus fall offers some of the best aerial photos – hands down!)

Side note – contrary to popular belief, many homes DO sell during the fall and winter… however, again with less buyers looking, it may take a bit longer than during the summer, but that doesn’t always mean it won’t sell for the price you are asking.

Our team is here to help. Drop us a line and ask a question! Looking forward to hearing from you.

Uncategorized

Best Realtor Near Me


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Are you looking for the best realtor near you? What does it mean to be “good” at real estate and how can you know if you’re working with a good agent. Here are a five tips to consider when you’re looking for an agent!

1.) Do they have good past client feedback? How they treated past clients, partners and others in the transaction may say something about their business style and how they conduct themselves. Good feedback is generally a good sign! Remember, in real estate, each agent is a business owner and how they conduct their business may differ from the next.

2.) Are they experienced and responsive? Experience isn’t everything but it sure helps! They’ve experienced more transactions and can better advise and help you based on what they’ve seen in the past. They may have more market knowledge as well depending on the number of years in the industry and the number of transactions completed as well. Being responsive and prompt is something that’s important in an agent too. You want someone who is working hard for you and is available to help you quickly and efficiently.

3.) Are the professional, honest and can you trust them? This is a “gut question” you have to ask yourself. Do I trust this Realtor to help me with what could be my largest purchase or sale. If you do not trust them, maybe it’s not the best fit for a professional relationship in your sale or purchase.

4.) Do you enjoy working with them? If you’ve talked with them or met with them for a consultation, what was your impression of them? Did you enjoy working with them, feel comfortable talking with them? If yes, it’ll probably be good fit! If you felt uncomfortable, unvalued, it’s probably ok to keep looking for another Realtor.

5.) Has anyone recommended them to you? A word of confidence from a close friend or family member can go a long way. If you’ve heard good things from multiple people chances are they’re likely a good agent!

There are a lot of other factors that go into selecting an agent that’s right for you but I hoped these 5 are helpful as you narrow in. If you’re interested in buying or selling, I’d love the opportunity to earn your trust. Let’s get in touch! Send me a message below or you can call / text anytime Austin – 715-212-4693.

 

 

Team Member Highlight

Team Member Highlight – Angie Rhode


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Angie Rhode Transaction Coordinator, The Solomon Group

Angie Rhode joined The Solomon Group in September of 2019. Her past experience in both the title industry and banking industry have given her an understanding of a few of the steps involved in the real estate transaction from related industries.

That is a huge benefit to our clients going through their purchasing or selling process. They have a coordinator that understands the process and is there to help each step of the way.

As the Transaction Coordinator, Angie helps clients during their transaction process once they have an accepted offer on a home, rental, other property or land. She makes the process as smooth and enjoyable as possible by providing dedicated support and customer service.

“Angie does a great job”, says Solomon. “Her willingness to help and want to make our clients smile and enjoy the experience is really evident”.

In her free time, Angie enjoys volunteering, walking, exercising and spending time outdoors! Our whole team looks forward to serving you in all your real estate needs. Thanks for taking a bit of time to get to know Angie!

 

 

 

 

 

Home Buyers, Home Tips

Rent To Own Vs Buying


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A lot of buyers have heard of a land contract or more commonly referred to as a “rent to own” when they’re thinking about buying.

So, let’s dive a bit deeper into what is a “rent to own” purchase option and how does it differ from purchasing a home outright.

A land contract or rent to own purchase option is a contract between a seller and buyer that essentially outlines a purchase plan with X number of payments at $X rate per month.

An easy way to think of a rent to own contract is a vehicle lease. A car dealership will lease a vehicle to a buyer if they make their payments, they can use the car and those payments are accumulating and being applied toward the purchase price. At the end of the lease, the buyer can buy the vehicle outright, lease another or finance the remaining portion.

Rent to own contracts are very similar. They establish a plan for the buyer to make payments that are applied or deducted from the purchase price. The main difference is there is not a lender or bank in the equation, the seller is assuming that role and risk. Sellers know that and often factor that risk into the monthly cost.

From the seller perspective, they may not be willing to take on that risk. That is why many sellers prefer to sell outright to receive their funds in full without receiving monthly payments and potentially having legal concerns arise years down the road.

Rent to own purchase options may seem more attractive to some because they don’t have the lender piece in the puzzle with “stricter” guidelines for acquiring a loan. That may be appealing to buyers with lower credit or little to no down payment saved up. The buyer may still have a good income and can support a monthly payment, but are not able to get a loan from a lender or bank.

The concern arises if you cannot make your monthly payments to the seller, the contracts are often written in a way that allows for the seller to recoup their property, leaving the buyer in a “rental-like” situation, making payments for years but not gaining equity in ownership. All land contracts vary, but it’s highly recommended to have a real estate lawyer draft and review a land contract prior to signing.

One of the first steps in buying a home is figuring out the financial piece. What can you afford? Can you obtain a pre-approval and loan at this time? Are there a few steps you can take over a few months to improve your credit?

If the finances aren’t in a place needed for a purchase right now, it’s still helpful to connect with a good lender who can help identify opportunities for you to improve your credit and that will result in a better rate down the line.

We hope this resource is helpful to you. If you have questions or want to learn more, please contact our team.

 

 

 

 

 

 

Home Tips

The Inside Scoop on Radon


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We’ve all heard a lot about radon, but what is it and should you be concerned about it?

Radon is an orderless gas naturally-occurring radioactive gas that can cause lung cancer. The gas is colorless and odorless ,which is what makes it challenging to detect without a radon test. You can either do a self-radon test with a purchased kit, or you can hire a professional to test the radon level.

In this area, it’s not uncommon to have radon is your basement or lowest level of your home. Throughout Marathon County area there is a higher granite concentration than in other areas and that allows for natural decay into radon that may seep into the basement through the foundation.

Low amounts of radon are considered to be “safe levels” and that is at or below 4.0. Anything above that level is considered to be a “higher level” of radon and can be addressed with a radon mitigation system.

A radon mitigation system essentially uses a fan system to pull air from the soil / ground and exhausts it outside through PVC pipe. In addition to that, cracks and other openings in the foundation are recommended to be sealed in order for the system to operate effectively.

After a radon mitigation system is installed, oftentimes the installer will come back out a few days after and conduct a radon re-test to make sure the system is working as planned.

If you have concerns about radon, you can read more information about radon on the EPA website at: https://www.epa.gov/radiation/what-radon-gas-it-dangerous.