Edgerton Wisconsin Foreclosure Listings

561 County Highway X, Edgerton WI 53534 (MLS # 1702156)
$113,850 Bank Owned Foreclosure/REO

3 Bedroom, 2 Bath Edgerton, WI Ranch for Sale

Great value in the country. Well kept ranch on rural half acre. 3 season porch and 2 fireplaces. Priced to sell. Click the picture below for additional photos and details:

Property Highlights

• Foreclosure Deal
• Single Floor Ranch
• Large Lot
• Spacious Garage
• Country Location
• Two Fireplaces

Features

• Bedrooms: 3
• Bathrooms: 1 full, 2 half
• Home Size: 1567 sq.ft.
• Garage: 2
• Lot Size: 1/2 Acre
• County: Dane
• Property Type: Single Family Home
• Year Built: 1968
• MLS Number: 1702156

Click here for additional homes for sale in Edgerton: Edgerton Wisconsin Homes for Sale

View our other Rock Realty Home Listings

Benefits of Buying an Owner-Occupied WI Short Sale

There are often overlooked benefits to buying an owner occupied Wisconsin Short Sale home. It’s amazing just how much of a difference having someone living in a property can make. Here are some of the upsides that I have noticed in a Wisconsin owner occupied short sale home versus a vacant Foreclosure:

-  It feels like a home. When someone is living in a short sale home, there is furniture and pictures on the wall. It has already been somewhat ‘staged’ for showings. This helps potential home buyers get a feel for what an office or kids bedroom would look like if they purchased the home.

- The grass is mowed. This helps with weed and rodent reduction. It also keeps the neighbors happy.

- The air conditioning remains on. I have come across some foul smells in vacant foreclosure homes. When a property sits sealed up for too long, there is almost always a stale smell that results.

- The heat remains on in the winter. This helps to prevent plumbing from freezing and the resulting water leaks.

- The electricity remains on. In Wisconsin, this is important for basements. When sump pumps don’t have electricity, flooding often occurs. This can result in a very costly fix. It also means that the refrigerator is cooling and dishwasher is being used. This can prevent mildew growth.

- The water is being used. Many Wisconsin homes require a water softener due to hard water. With the water being used, the softener is allowed to work. This will prevent sediment build-up which can ruin a water heater and clog up pipes.

- Property Condition Report. When a bank lists a foreclosure property, they do not have to provide a Property Condition Report. Wisconsin doesn’t require a report if the current owner has not lived in the property. In a Wisconsin Short Sale, the owner is legally required to inform potential buyers of any defects they are aware of.

Additional Short Sale Information

• What is a short sale?
• Is a Short Sale right for my home?
• Half of Homeowners Underwater on their Mortgage
• Buying a Wisconsin home after a Short Sale or Foreclosure
• Benefits of Buying an Owner-Occupied Wisconsin Short Sale
• Tips for Buying a Wisconsin Short Sale

WHEDA Home Loan Mortgage Rates at Historic Low

I receive daily updates on current mortgage rates in the Janesville Wisconsin area. One of those rates is for the WHEDA Home Loan. Todays mortgage rate showed a new historic low at 4.75%. These rates of course can and do change often so you will want to check with your bank to get the most up to the minute information. To give you an idea of how low this mortgage rate really is, consider this scenario. If you were to purchase a Janesville WI foreclosure property for $75,000 at a 4.75% mortgage rate, your mortgage payment with interest would be only $391. Say you purchased a Janesville WI short sale at $150,000 your monthly mortgage payment would be a reasonable $782. This is assuming no down payment.

If you are looking to purchase a bank owned/foreclosure/REO property, short sale or standard listing in Janesville WI, I would be happy to help assist you. I’ve listed details from one of the WHEDA loan programs below. Please refer to the WHEDA website for the most current home loan details.

Michael Collins, SFR
Short Sales & Foreclosure Resource
Janesville, WI

Are you a first-time buyer? Do you want an affordable home loan with a fixed rate and 100% financing? If so, then you are in luck. Wisconsin Housing and Economic Development Authority (WHEDA) has partnered up with Fannie Mae to bring affordable housing to qualified first-time buyers. You can find a link to WHEDA’s site on Rock Realty’s home page. Here are the features you will find on their site:

FEATURES AND BENEFITS

• Low cost, 30-year fixed interest rate – Ensures the rate on your mortgagewill never increase





• $1,000 minimum borrower down payment – Reduces the cash you need to close your loan





• Reduced mortgage fees – Your mortgage will cost less thanks to the elimination of fees commonly found with other traditional loan products





• If you involuntarily lose your job during the first two years of your mortgage, WHEDA’s job loss mortgage payment protection will cover up to six months of payments.

There are eligibility guidelines as well as income and purchase price limits to this program. You can find them on WHEDA’s site too. Buyers are required to take a home buyers seminar and pass the WHEDA pre-approval. These are good things. You should be educated on owning a home and the pre-approval verifies your ablility to own a home long term.

Rock Realty offers home buyers a 1 percent credit at closing. Follow the below link for further details!
Home Buyer Discounts

This communication is provided to you for informational purposes only and should not be relied upon by you. Rock Realty is not a mortgage lender and so you should contact WHEDA directly to learn more about its mortgage products and your eligibility for such products.

Why banks need Broker Price Opinions, BPO's

This year I have been completing numerous BPO's for homes in my area. BPO is an acronym for Broker Price Opinion. Broker price opinions are a valuation service that real estate brokers can offer to banks. Performing these BPO's has only strengthened my ability to properly assess how much a property/home is worth in today's market conditions. Completing BPO's in local cities like Janesville, Milton, Beloit, Evansville, Elkorn and Madison has given me a unique view into the intricacies related to each market. I also have a better understanding of how the banks determine their home values when it comes to short sales, pre-foreclosure decisions and REO properties. The article below explains in greater detail what a broker price opinion is.

Regards,
Michael Collins - Broker
Short Sale & Foreclosure Resource

What is a Broker Price Opinion?

When a bank or asset manager obtains a new foreclosed listing to sell, they immediately need to know the home's value. Typically a bank will assign one to three agents to evaluate the approximate selling value of a home. These banks expect each agent to submit three comparable sold listings and three comparable active listings as well as an estimate of what the agent thinks the home will sell for.

A Broker Price Opinion is not as detailed as an appraisal and does not entail as much work. BPOs differ from Appraisals in a number of ways:

• Appraisals typically cost over $300. Most BPOs pay brokers between $50 and $100.



• Appraisals require detailed square footage measurements. BPOs rely on county assessors' recorded measurements.



• Appraisals use a standard format recognized and used by lenders and mortgage professionals for precise property valuations. BPO's are prepared in different formats and are used simply as decision making tools for asset managers of each bank.



• Appraisals are typically 15-20 pages long with detailed information on each aspect of a property. BPO's are usually 2 pages long with information pertaining only to a final selling price.

Why Do Banks need Broker Price Opinions?

Asset managers and bank personnel make decisions on several properties every day. Reading through a lengthy 20 page appraisal and filtering out the critical information is a waste of their time. These asset managers need concise, financial documents that make their choices easier. That's why BPOs are so critical to their job. In addition, a BPO saves the bank over $200 per property compared with a standard appraisal. That money adds up quickly and saves the bank thousands and thousands of dollars a year.

Another reason BPOs are preferred by banks is that the turnaround time is much quicker than appraisals. BPOs can usually be performed by agents in under 48 hours. Many appraisers visit the property within 48 hours, but then require another day or two to process the information and create the full report.

Article Source: http://EzineArticles.com/1844386
Author: Brian Anthony

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If you are looking to purchase or sell a home in Rock, Dane or any of the surrounding counties in Wisconsin, please give me a call. We are based in Janesville, but service Madison and many other surrounding Wisconsin cities.

Ask me about our 1% credit at closing for buyers. That could mean $2,000 on a $200k home purchase!

Regards,
Michael Collins - SFR - Short Sale & Foreclosure Resource
(Broker, Realtor, Real Estate Agent)

Rock Realty
Rock Solid Real Estate Strategies
PO Box 2444
Janesville, WI 53547-2444
c: 608.921.8536
f: 877.774.7625
Mike@RockRealtyWI.com
http://www.rockrealtywi.com/

Follow us:
www.twitter.com/RockRealty
www.facebook.com/RockRealtyMike

Real Estate Agent in the Madison-Janesville WI area

Are you looking for a real estate agent or realtor in the Madison or Janesville Wisconsin area? Have you been thinking about purchasing a discounted home in this great buyers market?!

For anyone looking to purchase property in Dane or Rock County, I would be happy to assist you. My name is Michael Collins and I am a SFR certified Realtor and broker. The SFR certification stands for Short Sale & Foreclosure Resource. Although I'm based out of Janesville Wisconsin, I also service the Madison WI area as well as Beloit. I have buyers agent experience which includes assisting home buyers purchase Short Sale & REO properties at a great price and I'm committed to doing what's best for my clients!

Feel free to call me at 608-921-8536 or visit our website www.RockRealtyWI.com

Ask me about our 1% credit at closing for buyers. That could mean $2,000 on a $200k home purchase!

Regards,
Michael Collins - SFR - Short Sale & Foreclosure Resource
(Broker, Realtor, Real Estate Agent)

Rock Realty
Rock Solid Real Estate Strategies
PO Box 2444
Janesville, WI 53547-2444
c: 608.921.8536
f: 877.774.7625
Mike@RockRealtyWI.com
http://www.rockrealtywi.com/

Follow us:
www.twitter.com/RockRealty
www.facebook.com/RockRealtyMike

REO Buyer Incentive on Freddie Mac homes (Wisconsin)

Wisconsin Short Sales
Madison Wisconsin Short Sale Realtor®
Janesville Wisconsin Short Sale Realtor®
Beloit Wisconsin Short Sale Realtor®

Have you heard about the closing cost assistance that Freddie Mac is now offering to home buyers? How would you like to have an extra 3.5% credited to you at closing? Here is an excerpt from the Inman News article:

Inman News^TM

"Hoping to boost sales of foreclosed homes, Freddie Mac is offering up to 3.5 percent in closing-cost assistance to homebuyers"... the article continues "On the purchase of a home priced at $150,000, for example, HomeSteps will pay up to $5,250 toward closing costs. Investors are not eligible for Freddie Mac's HomeSteps summer sales promotion -- only homes sold to owner-occupants qualify."


Here at Rock Realty, we understand that funding a down payment in this economy takes a heavy toll. That's why we offer our buyer clients a 1% of home purchase discount at closing! This could mean $1,500.00 on a home purchase of $150,000. (Requires signed Agency Agreement)

The discounts don't stop there! Rock Realty is also members of H.I.P. This is a program that offers discounts on many items a buyer will need for their home purchase. Some examples are:

$250.00 Closing Cost Discount

$250.00 Home Improvement Discount

$250.00 Builder Discount

And much more!

If you are looking to purchase or sell a home in Rock, Dane or any of the surrounding counties in Wisconsin, please give us a call. We are based in Janesville, but service Madison and many other surrounding Wisconsin cities.

Michael Collins Completes Prestigious RSD Designation to Specialize in Bank Owned Homes

Wisconsin Short Sales
Madison Wisconsin Short Sale Realtor®
Janesville Wisconsin Short Sale Realtor®
Beloit Wisconsin Short Sale Realtor®

Michael Collins in Janesville WI, has earned the prestigious Harris Real Estate University Certified Real Estate Owned Specialist Designation (RSD), having completed extensive training in the techniques necessary to secure, negotiate and sell (REOs).

FOR IMMEDIATE RELEASE
PRLog (Press Release) – Apr 28, 2011 – Michael Collins Completes Prestigious RSD Designation to Specialize in Bank Owned Homes

April 1, 2011 Michael Collins, Broker of Rock Realty in Janesville, has earned the prestigious Harris Real Estate University Certified Real Estate Owned Specialist Designation (RSD), having completed extensive training in the techniques necessary to secure, negotiate and sell Bank Owned Properties (REOs). This REO training is invaluable during the current recession, especially in housing markets where foreclosure rates continue to climb.

A property becomes an REO if the original owner fails to pay their mortgage and the lending bank is forced to repossess it. The bank then reaches out to qualified REO designated brokers and agents to sell the home and recover their investment. Without access to experienced REO Listing agents, lending authorities must continue to hold onto the foreclosed property as an investment loss.

“The Harris Real Estate University RSD designation has been invaluable as I work with banks and lenders on complicated BPO & REO assignments. In Janesville Wisconsin, an increasing number of homes are in some stage of foreclosure. And it is happening with homes of every price range,” said Michael Collins, “It is so rewarding to be able to help banks rehabilitate these homes, get them back on the market, and find eager homebuyers so we can improve the condition of our neighborhoods. My RSD training through HREU has enabled me to work with more lenders, move more properties and get some of these vacant homes sold!”

Tim and Julie Harris, founders of the Harris Real Estate University in Las Vegas, NV, said “Realtors such as Michael Collins with the HREU RSD designation have valuable training in REO properties and can help banks find qualified buyers using our extensive techniques. Through our in-depth training and continuous education programs, these agents better understand market conditions that will help lenders appraise their properties through a BPO and eventually sell their REO inventory.”

The Harris Real Estate University opened in 1998 and provides REO agent training through webinars, teleseminars and teleconferencing. Agents can earn their HREU REO Listing Designation remotely from their offices all across the nation. The RSD is the premier designation for Realtors who develop an expertise in Bank Owned properties.

“Our goal is to prepare our enrolled agents for the increasingly competitive REO market. It’s becoming more difficult for uncertified agents to out-sell our graduates. Our comprehensive RSD Designation gives them everything they need to gain an edge over other agents in their communities,” Harris said.

If you feel you are in need of more information about REO properties, or if you are a lender looking for a certified Bank Owned Property Realtor, call Rock Realty for more information at 608-921-8536. We also offer in depth BPO (Broker Price Opinion) services.

Specializing in the sale of REO homes and commercial properties in the Madison, Beloit, Evansville & Janesville areas, Rock Realty lists homes for sale in Dane and Rock County. Contact Michael Collins at 608-921-8536 for more information, or visit www.rockrealtywi.com