Wausau, WI Real Estate News

By Tim Hagedorn
(yourChoiceRealty.net)
Concerts on the Square Marshfield Clinic and City Pages along with Wausau Area Events present what has become the place to in Wausau during the summer! The Wednesday evening Concerts on the Square series features a diverse musical lineup for all tastes and ages. Carry-ins are allowed or visit some of our great restaurant options in downtown Wausau. Click here for artist videos! Sound provided by Abe Gabor. 2010 Schedule Starting June 23rd Downtown Wausau, 400 BlockEvery Wednesday June 23rd to August 18th, 6 - 8pm Date Liam Ford Band June 23 Windsor Drive June 30 Altenburgh Ensemble July 7 Green Tea July 14 Sunspot July 21 Copper Box July 28 Unity August 4 Hello Dave August 11 !Que Flavor! August
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By Tim Hagedorn
(yourChoiceRealty.net)
Buying REO REO, or real estate owned (by the lender), is the most popular method of buying a foreclosure, because it's generally the easiest and safest way. However, when you purchase a lender-owned property, it can offer the least value and most competition. Understand that the lender acquired the distressed property at the auction, because no one bid higher than the default amount. Now that the lender owns the property, it can be sold for any price, even for a profit. There is about 70 Foreclosed homes on the market In Wausau Area.  Email Tim Hagedorn at exttim@aol.com for free Foreclose Listings.    
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By Tim Hagedorn
(yourChoiceRealty.net)
The Home Buyer's Tax Credit recently expired for first time home buyer's but it is still available uniformed  services of the U.S military, members of the Foreign Service of the U.S., or employees of the intelligence community who are actively serving outside of the U.S. on official extended duty. The Homebuyer's Tax Credit of up to $8,000 for first-time buyers and up to $6,500 for certain repeat buyers has been extended one year for the above groups.  The rules are that the buyer must be under contract by April 30, 2011 and closed by June 30, 2011. This can be a very attractive deal for our military when you combine it with the VA on qualified military personnel to purchase certain homes in certain areas with no money down and no private mortgage insurance. The rules are little differe...
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By Tim Hagedorn
(yourChoiceRealty.net)
Homes on the market In Marthon County as of 6/17 10   #1267 Homes Sold 1/1/10 - 6/17/10  #482 Homes Sold 1/109 - 6/17/09   #419 Homes Sold 1/1/08 - 6/17/08  #461 Homes Sold 1/1/07 - 6/17/07  #589 Homes Sold 1/106 -  6/17/06  #610 Homes Sold 1/1/05 - 6/17/05  #577  
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By Tim Hagedorn
(yourChoiceRealty.net)
Homes Sold Under $100,000 - #22 Homes Sold $101,000 - $200,000 #26 Homes Sold $201,000 and up #10   Total For Marathon County for part of June #58
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By Tim Hagedorn
(yourChoiceRealty.net)
Steps for Getting Ready to Buy    Step 1. Find a Local Lender You Can Talk To in PersonLocal lenders understand your market and know of loan programs that might be beneficial to you. Check with your lender on any local programs that might help with closing costs or in other ways. Even though the media have pronounced the 100-percent-financing option dead, this is not always the case. Check it out for yourself and then get preapproved for a loan so you know how much house you're able to buy. Step 2. Be Specific in the Area You Want To LiveEducate yourself. Familiarize yourself with the neighborhoods you're interested in, the taxes and school districts. This not only helps you narrow down your search when you need to move fast, but also helps you figure out potential mortgage payments. Se...
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By Tim Hagedorn
(yourChoiceRealty.net)
The outcomes of the economic downturn in Wausau are all too predictable. The percentage of schoolkids eligible for free or reduced-cost lunches has climbed to 43%. Home foreclosures soared in Wausau and the surrounding Marathon County from 107 in 2000 to 505 in 2009, according to figures compiled by the University of Wisconsin-Extension
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By Tim Hagedorn
(yourChoiceRealty.net)
  Conventional fixed mortgage rates touched a new all time record low Friday. The 30-year fixed mortgage rate available to well-qualified consumers at 1 point origination dropped to 4.375%, from 4.5%. The 15-year fixed-rate also declined, from 4% to 3.875%. Mortgage rates have never been this low. The decline in mortgage rates stemmed from a big increase in mortgage-backed securities prices Friday. MBS prices, which drive mortgage rates in the opposite direction, gained +21/32 (FNMA 30-yr 4.5 at 102.23) on less than spectacular jobs numbers and more European debt concerns, this time in Hungary. Typically when we see significant declines in stocks as we have lately, mortgage rates improve. FHA mortgage rates continue to mirror those of conventional mortgages. Jumbo mortgage rates are als...
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The National Association of Realtors® today expressed thanks on behalf of America's homebuyers to three Senators for introducing a measure to extend the present home-buyer tax credit closing deadline to Sept. 30. They are Senate Majority Leader Harry Reid, D-Nev., and Sens. Johnny Isakson, R-Ga., and Chris Dodd, D-Conn. "As the leading advocate for homeownership and housing issues, NAR commends these Senators for their attentiveness and sensitivity to thousands of qualified home purchasers, who through no fault of their own, are not able to meet the closing deadline of June 30 for the homebuyer tax credit. Now we urge the Senate and the House to act quickly to pass this legislation and ease the minds and pocketbooks of these homebuyers," said NAR President Vicki Cox Golder, owner of Vic...
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By Tim Hagedorn
(yourChoiceRealty.net)
Home Listed on the Market as of 6/10/10   #330 Under $100,000 # 572  $100,001 - $200,000 # 453  Over $200,001   Total # 1355
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By Tim Hagedorn
(yourChoiceRealty.net)
 #50 Homes Sold under $100,000  #10 Where Foreclose Homes  #1 Was Short Sale ------------------------------------------------------------------------------------------------------------------------ #68 Homes Sold $101,000 - $200,000 #7 Where Foreclose Homes # 2 Where Short Sales ------------------------------------------------------------------------------------------------------------------------ #12 Homes Sold Over $201,000 and Up #1 Was Foreclose ---------------------------------------------------------------------------------- Total For Month of May Wausau Area #130
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By Tim Hagedorn
(yourChoiceRealty.net)
HomePath® Mortgage Financing This special financing is available on Fannie Mae homes with the following logo: The benefits include: Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only) You may qualify even if your credit is less than perfect Available to both owner occupiers and investors Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer No mortgage insurance* No appraisal fees Also eligible for HomePath Renovation Mortgage (see details below) HomePath Mortgage financing is available from a variety of lenders - both local and national.
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By Tim Hagedorn
(yourChoiceRealty.net)
All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. Any real estate broker registered with HUD may submit an offer and contract to purchase on your behalf. HUD pays the real estate broker's commission, if included in the contract. HUD Homes are offered for sale at fair market value, based on a recent appraisal. Generally, HUD Homes are sold in what is known as an "Offer Period," during which a potential buyer's offer must be made. At the end of the Offer Period, all offers are opened and the bid providing the highest acceptable net return to HUD may then be accepted. Following the initial "Offer Period" homes remaining unsold are offered on an "extended" basis which means offers may ...
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By Tim Hagedorn
(yourChoiceRealty.net)
  -  Judicial Foreclosure Available: Yes   -  Non-Judicial Foreclosure Available: Yes   -  Primary Security Instruments: Deed of Trust, Mortgage   -  Timeline: Typically 90 days   -  Right of Redemption: Yes   -  Deficiency Judgments Allowed: Yes   In Wisconsin, lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.   Judicial Foreclosure   The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, the property will be auctioned off to the highest bidder. However, in Wisconsin, no sale may be made for one year from the date the judgment is enter...
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By Tim Hagedorn
(yourChoiceRealty.net)
The home buying process is an exciting time, but one that may bring additional responsibilities into your life. Many homes may need renovations or inspections, especially in areas that are susceptible to natural disasters. Having the assistance of an experienced and honest real estate agent will make this process smooth and stress free. Some older homes may still contain obsolete building materials. Citizens of this great state are striving to move to a green lifestyle, advocating environmentally sustainable methods to be used throughout the state. Building or remodeling your homes with eco-friendly materials can lower utility and water bills, higher real estate value, purer air quality, reduced waste sent to landfills and conservation of natural resources. Asbestos + Healthy Tips Asbes...
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By Tim Hagedorn
(yourChoiceRealty.net)
The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures. The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which a lender agrees to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, according to an announcement on the Treasury's website. Guidelines address barriers that have often sidelined short sales by setting limits on the time it takes a bank to approve an offer, freeing borrowers from debt and capping claims of subordinate lenders. The incentives, first announced in May, expand...
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By Tim Hagedorn
(yourChoiceRealty.net)
    With interest rates near historic lows and the First-Time Home Buyer Tax Credit set to expire, October existing home sales saw another significant increase. NAR's monthly data show sales were up 10.1% to a seasonally adjusted rate of 6.1 million sales. Residential inventory dropped to a 7-months supply, a level not seen since February 2007. More findings Distressed properties made up 30% of all October sales. 13% of successful first-time homebuyers had a previous deal fall through. NAR chief economist Lawrence Yun says, "Many buyers have been rushing to beat the deadline for the first-time buyer tax credit that was scheduled to expire at the end of this month, and similarly robust sales may be occurring in November. With such a sale spike, a measurable decline should be anticipated...
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By Tim Hagedorn
(yourChoiceRealty.net)
Leigh Yawkey Woodson Art Museum 700 North Twelfth Street, Wausau 715/ 845-7010 Tuesday-Friday: 9 am-4 pm Saturday-Sunday: Noon-5 pm. Closed Mondays and major holidays Free Admission Web Site: www.lywam.org The Museum's permanent collection soars in celebration of nature with historic and contemporary paintings, sculptures, and works on paper that focus on birds. The annual Birds in Art exhibition in September and October is worth crowing about and attracts both international artists and visitors. Stately gardens dotted with sculpture invite visitors to "outdoor galleries." In 1976, John and Alice Woodson Forester transformed their English Cotswold-style residence into a museum to display her mother's collections of Royal Worcester porcelains and Victorian glass baskets. The stunning new...
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By Tim Hagedorn
(yourChoiceRealty.net)
415 Fourth Street, Wausau 715/842-0988 Visit their WebsiteHours and admission prices vary with performances. Originally opened in 1927 as an opera house, the Grand Theater located at 415 Fourth Street in downtown Wausau is a beautiful Classical-Revival structure containing stunning examples of colonnades, marble statuettes and a solid Bedford limestone facade. In 1987, a community-sponsored restoration project brought the theater back to its past glory. Included with that, a fully computerized lighting and sound system and extensive stage rigging were added to the structure. At present, the theater is undergoing a $13 million ArtsBlock expansion project to build a performing and visual arts center. ArtsBlock will connect the Grand Theater, the Performing Arts Foundation and the Center f...
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By Tim Hagedorn
(yourChoiceRealty.net)
Center for the Visual Arts 427 Fourth Street, Wausau (715) 842-4545 Tuesday-Friday: 10 am-5 pm Saturday & Sunday: 12 pm-4 pm Closed Mondays & HolidaysFree AdmissionVisit their Website The Center for the Visual Arts, housed in a registered Landmark building, provides exhibition space for local and regional artists in all artistic media. The Center also features thematic exhibits throughout the year and offers classes in all art media to all age groups. A complete exhibit schedule is included in the continuing events section of this guide. Information about classes is available by calling the center.
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