Green Bay Real Estate – Why you need to be educated

It’s now more important in this ever changing economy and Green Bay Real Estate Market to understand some of the changes that will affect your ability to purchase a home.

• The first step in the home buying process is to get pre-qualifed with a lender that you can trust and that has tenure in the Green Bay Mortgage Industry.
• The reason I strongly suggest that you work with a heavily experienced mortgage officer is that the lending rules are changing on what seems to be like a daily basis.
• The difference between working with a less experienced and more tenured mortgage professional may lead to a delay or even the possibility of a loan not going through.
• It is not uncommon in today’s marketplace for the banks to give you final approval of the loan a couple days before closing or even for a few I’ve seen it happen day of closing or the worst case scenario for it get pushed back.

When you work with a very experienced and committed mortgage professional they will prepare a very strong loan packet.  A good lender will ask you for more documents than he or she might need.  The reason they do this is to avoid further complications or last minute situations.  It’s not uncommon for the underwriters (people who approve your loan) to request more documentation at the last minute.  Be prepared for this it’s not uncommon at all in today’s industry.

When applying for a Green Bay Mortgage your most powerful asset is your credit score.  The credit score minimum requirements have been changing from bank to bank and even with government loan bodies as well. Protect this asset with everything you have.  If you are looking to purchase a home stay away from applying for other sources of credit, making large purchases without consulting your mortgage professional.  We work with trusted professionals who can also help you overcome credit score issues and problems.

Digesting this information will prepare you for less headaches and hopefully lead to a more pleasing Green Bay Home buying experience.  We will be providing you with more detailed information about the Home Buying Process stay tuned.

Hire the True Green Bay Real Estate Professional

Greg Dallaire, known around town as “Green Bay Greg” is the ‘premier’ Green Bay WI Real Estate expert.  Greg’s approach is cutting edge, utilizing creative Internet marketing strategies to get your Green Bay Home sold!  If you are looking for a true local expert with a proven track record of success in the Green Bay WI Real Estate market, give “Green Bay Greg” a call today at 920-217-2647. See what Greg’s past clients say about the way he handles real estate in Green Bay.

Copyright © 2009 By Greg Dallaire, All Rights Reserved. *Green Bay Real Estate – Why You Need to be educated*

Want to buy Green Bay Real Estate? Know How to Protect Your Credit!

For Green Bay Home Buyers the most important thing that allows them to purchase Green Bay Real Estate is that dreaded credit score.  Even other things such as insurance companies are using your credit score to determine rates.  Simply put your credit score is your life line for all your major purchases in your life and should be protected at all costs.

Credit Scores: What Are Damage Points? — The Phoenix Real Estate Guy

More than any time that I can remember since I have been in the mortgage business, people are paying close attention to their credit scores.

People ask me questions like “what happens to my credit score if I ?” on a regular basis and because of the nature of how exactly credit scores are calculated (it is mostly a secret), I have usually just been able to give general guidelines for each what-if scenario.

Until now.

Recently, FICO has released a little more information as to exactly how much of a credit score drop you can expect to see for certain financial mis-steps. While they didn’t address all of the possible things that could go wrong and as a result hurt your credit, they did address some of the more common ones.

credit score damage points

Did you just max out your credit card? Expect your credit score to go down anywhere between 10 and 45 points. Just paid a payment 30 days late? Expect a 60 to 110 point hit. And if you are one of those people who has recently went through foreclosure? According to FICO you should see your credit score anywhere between 85 and 160 points lower than it was before it happened.

One of the interesting things I noticed about the “damage points” model is that the higher your credit score is before the mistake, the higher the penalty in damage points. One potential result of this algorithm that comes to mind as a result of this is that I suspect in 2 years from now, there may be more people with “decent” credit, but maybe not great credit.

Because in today’s world – it is more difficult than ever to keep a pristine credit score.

And now, with the unveiling of the credit score damage points model – you know exactly what kinds of damage to your credit that you can expect should “something bad happen”.

Green Bay Home Buyers need to be aware of FHA Rule Changes

He wrote a very insightful post that I would strongly recommend you read in full.  The long story short of his post is addressing the New Rules for FHA Mortgages that affect Green Bay Home Buyers.  The legislators rushed to get the tax credit extended and even expanded to motivate fence sitters to cross into home ownership.  FHA is the major vehicle used for Green Bay home purchases these days. It is becoming more and more difficult to get an FHA Mortgage for your Green Bay Home purchase and with the new rules it will continue to get more difficult and costly for home buyers.

New FHA Rule Changes may affect your Green Bay Home Purchase

For a government that was so quick to blame others for the housing crisis, it’s the government that really opened the door to less regulation and made it easier for more banks to take on more risky loans that would be backed by the government.  With that being said as it’s unfortunate for some home buyers that will have to pony up more cash to get a mortgage on their new home but it’s a sign of changing tides in the lending market that Green Bay home buyers need to be aware of.

Federal Government at Work: Let’s help people buy homes! No, wait. Let’s make it harder. New Rules for FHA mortgages. — The Phoenix Real Estate Guy

Sometimes I don’t understand Congress and the government.

Ok, often I don’t understand them…

Case in point:

The flurry of activity in the hollowed halls of the U.S. Capitol building over the last couple of months to get the first-time homebuyer’s tax credit extended (and expanded beyond first-time buyers) was touted as necessary to help people buy homes and turn around the ailing real estate market – and the U.S. economy. Billions of dollars have been spent on this program, with billions more to come.

Think your elected officials don’t believe the tax credit helps the housing market, and hence the economy? In their own words:

“Already, the homebuyer’s tax credit has helped to stabilize the housing market. . .This extension and expansion will help our economy grow and allow many more middle-class families to realize the American Dream.” – Senator Chris Dodd (source)

“The key to returning stability to the economy lies within the housing market, and we have crafted a meaningful credit that will create a strong foundation for future growth and make a measurable difference over the next seven months in our economy.” – Senator Johnny Isakson (source)

“The bill also a places a down payment on the future of our middle-class because it extends, for the first-time homebuyer, a tax credit helping more Americans purchase homes and making it a little easier for families to move into a new house and keep a roof over their heads. This initiative has already been successful. We’ve seen the positive impact — the steadier foundation in our housing market. Most significantly, we’ve watched a new generation of Americans start living out their dream of homeownership and economic security.” – Speaker of the House Nancy Pelosi (source)

I happen to think they are wrong, but hey, they are as entitled to their opinion as I am to mine.

OK, so the folks in Washington are looking out for us, passing laws they feel will spur the housing market toward recovery. Good for them. While it may seem at times their primary job is to get re-elected, let’s give them the benefit of the doubt and say they have the American public’s best interest in mind.

Green Bay Neighbors Take Action After West-side Burglaries – WBAY-TV Green Bay-Fox Cities-Northeast Wisconsin News:

Green Bay police are investigating dozens of burglaries on the city’s far west side — 28 in the past four days.

They’re happening in an area west of Highway 41 near the Green Bay-Ashwaubenon border. Some happened near Hazelwood Lane and Packerland Drive, others just to the west of Packerland, and there were a few off Oakwood Drive.

Investigators say they stole items generally found in vehicles like electronics, CDs, and other small items that can be easily carried.

Police believe the burglar or burglars are busting locks, breaking in through the service door of the garage, and now neighbors are boarding up their properties to keep would-be thieves out.

“We’re seeing a lot of them that are right next door to each other. They must go right down the block,” Lieutenant Bill Bongle, Green Bay Police Department, said.

These neighborhoods are known for being nice, well kept, and crime-free. But since Tuesday, all residents can talk about are the dozens of burglaries.

Realty Times – Green-building Growing, More Jobs, More Buyer Interest

According to a new study from the U.S. Green Building Council (USGBC) and Booz Allen Hamilton, construction in the green-building industry will support 7.9 million jobs over the next four years while pumping into the American economy $554 billion. Currently, 2 million American jobs are supported by the same industry and more than $100 billion in gross domestic product and wages is generated.

The USGBC writes on its Web site that “buildings in the United States are responsible for 39 percent of CO2 emissions, 40 percent of energy consumption, 13 percent water consumption and 15 percent of Gross Domestic Product per year, making green building a source of significant economic and environmental opportunity.” The study found that from 2000 to 2008, $178 billion in gross domestic product was contributed to the economy and 2.4 million direct/indirect and induced jobs were created or saved which generated $123 billion in wages.

“Our goal is for the phrase ‘green building’ to become obsolete, by making all building and retrofits green — and transforming every job in our industry into a green job,” said Rick Fedrizzi, president, CEO and founding chairman of US Green Building Council.

Green Bay Greg is Committed to Helping My Clients With Green Real Estate Purchases

Green Bay Greg enjoys helping his clients purchase real estate in Green Bay, WI with energy efficiency and environmentally sensitive design.  If you have green features in your Green Bay Home work with an agent who knows how to market it.  Contact Green Bay Greg

Learning about your carbon footprint is the first step to improving it

Taking the first step to becoming greener can be overwhelming at first but with a few small steps you can start making a positive impact on your carbon emissions that come from your Green Bay Home.  In essence Living greener means being more aware and living smart and taking the basic steps to living a greener way of life.

The three main contributors to greenhouse gas emissions that come from our Green Bay Home are electricity and heating use and waste waste.  According to the E.P.A Environmental Protection Agency the average carbon footprint for a household in the U.S. is a startling 41,500 pounds a year.

Your Household Appliances Are A Great Place To Reduce Carbon in Your Green Bay Home

Any home appliance you can think of add’s to your carbon levels and our carbon footprints in your Green Bay Home.  You can start reducing your emissions easily by purchasing Energy Star Appliances they are required to meet certain efficiencies levels.  A great resource to find Energy Star product for your Green Bay, WI home by going to Energystar.gov

Great Way To Go Green Upgrade Inefficient Systems in Your Green Bay Home

Manufacturer’s are hearing consumers call by offering a wide variety of efficient green options for your home.  For instance replacing an old water heater can reduce emissions by as much as 3,285 lbs according to Consumer Reports.  Not to mention the Green Benefits you can get cost savings as well.  I have an easy solution that anyone can implement.  Lowering the temperature of your home while you are not at home can save money and carbon emissions.

Green Bay Home Owners Can Do a Do-It-Yourself Energy Audit

One of the best resources you may not be aware of to reduce energy expenses is the “Energy Star Yardstick” calculator located on energystar.gov.  You have the capabilitiy of comparing your Green Bay, WI home’s energy efficiency with other homes across the country.  Be prepared to gather your past gas and electric information as well as basic information about your home.

Green Bay Greg is Committed to Helping My Clients With Green Real Estate Purchases

Green Bay Greg enjoys helping his clients purchase real estate in Green Bay, WI with energy efficiency and environmentally sensitive design.  If you have green features in your Green Bay Home work with an agent who knows how to market it.  Contact Green Bay Greg

This Winter Season Will Be Different for the Green Bay Real Estate Market

If you’ve been pondering the idea of putting your home on the Green Bay Real Estate Market this winter is the time to capitalize on the tax credit for two different reasons.  First the first time home buyer’s will still be out in full force looking to purchase their first home.  Secondly with the expansion of the tax credit being offered to Green Bay Home Owners that have owned their homes for five full years will bring about a whole new pool of buyers.

More Great Reasons To Put Your Green Bay Home Up For Sale on the Green Bay Real Estate Market

• If a buyer is out looking for homes in Green Bay in the winter they are extremely serious
• Typically in winter most people take their homes off the market during the Holiday Season which in turn means less competition
• People that don’t have children in school tend to wait till school is in session, which means less heated competition
• You have an opportunity to buy more of a house than ever for your money. You can also borrow money at interest rates that are at an all time low
• During the Holiday Season your home is usually in tip top shape for your holiday gatherings, why not showcase your home when your going to anyways

Sellers who wait to put their home on the market may miss a prime opportunity to sell their Green Bay Home.  Less competition in the winter means great things for Green Bay Home Sellers.  Now is the time to make sure you hire a Green Bay Real Estate Agent who has proven results and utilizes creative strategies to get your home sold.  Don’t take it from me. Watch what a Green Bay Home Seller says about my real estate services.

Hire the Proven Green Bay Real Estate Expert to Sell Your Green Bay Home

Greg Dallaire, known around town as “Green Bay Greg” is the ‘premier’ Green Bay WI Real Estate expert.  Greg’s approach is cutting edge, utilizing creative Internet marketing strategies to get your Green Bay Homesold!  If you are looking for a true local expert with a proven track record of success in the Green Bay WI Real Estate market, give “Green Bay Greg” a call today at 920-217-2647. See what Greg’s past clients say about the way he handles real estate in Green Bay.

Copyright © 2009 By Greg Dallaire, All Rights Reserved. *Selling Your Green Bay Home in Winter is Now a Great Option*

What is Credit Coaching and can it help get you Green Bay Home?

The Green Bay Credit Counseling company Credit Coach is a licensed Credit Service Organization. They have a huge emphasis on Coaching, they are not a debt consolidation company This is one of the reasons I’m such a huge advocate of their organization. They coach you and help you understand the process and explain in full detail the ramifications of doing something or not doing something. I’ve been apart of coaching sessions with my Green Bay Home buying clients so I get to see first hand what they do. Some people may feel like they are the only one out there with credit issues. I see these situations all the time- you are not alone! You may think that someone’s going to be judgemental and look down on you for mistakes that may have taken place in the past. Credit Coach out of Green Bay, WI and myself are focused on long term relationships with our clients, what has happened in the past is done. It’s time to take a step forward and ask for help from an organization that wants you to suceed without jeopardizing your financial future.

Work with a coach who can get you on track to buy a Green Bay Home

The Coach I specificially deal with is Suzi Banick. She is an energetic, positive person who has a genuine passion to help people. She has extensive background in the mortgage industry and in repairing credit. If you’re going to hire someone to help, I strongly suggest looking to Suzi Banick first.  You can contact Suzi Banick at 920-883-1986 or by email: sbanick@creditcoachwisconsin.com

You can change your situation no matter how bad it may be. Work with an agent who is able to help you achieve your goals! Contact me below.

Disclaimer: This post is not intended to be or to provide legal advice. We recommend that you speak to your attorney and your tax accountant regarding specifics and to find out if this is the best option for you in your situation.

“Green Bay Greg” – Green Bay WI Real Estate Expert

Greg Dallaire, known around town as “Green Bay Greg” is the ‘premier’ Green Bay WI Real Estate expert.  Greg’s approach is cutting edge, utilizing creative Internet marketing strategies to get your Green Bay Home sold!  If you are looking for a true local expert with a proven track record of success in the Green Bay WI Real Estate market, give “Green Bay Greg” a call today at 920-217-2647. See what Greg’s past clients say about the way he handles real estate in Green Bay.

Copyright © 2009 By Greg Dallaire, All Rights Reserved. *Bad Credit Want to Buy a Green Bay Real Estate-Credit Coach can help!*

Are Green Bay Foreclosures really a great deal?

When everyone is getting information from all different types of sources about how great foreclosures are, it creates what we in the Green Bay Real Estate Market like to call high demand.  When there is a high demand for a specific type of property there is also extreme competition.  When a local Green Bay Foreclosure hits the market you can imagine that the ready willing and able Green Bay Home Buyers are listening.  It’s not unlucky for Green Bay Foreclosures to sell within the first 30 days.  I can’t tell you how many times I’ve shown a foreclosure in Green Bay and ran into other agents at the same time.

So to answer the real question are Green Bay Foreclosures really a great deal?  Typically the listing agents of Foreclosures are very good at pricing their properties at a fair price from the get go.  But they also know that with the magic FORECLOSURE stamp on it that it will drive traffic with just that magic word we love.  It’s important to understand the amount of competition that goes along with these properties.  Decisions need to be quickly or you’ll lose your opportunity to purchase the property.  The bad news is when that happens you typically pay a higher price than you really should because of competition, but the banks eat it up because they know everyone’s looking for a foreclosure.

How do you know if your paying to much for a Green Bay Foreclosure?

It’s now more important that ever to make sure that you are hiring a Green Bay Real Estate Agent who has extensive experience in whats called buyer agency.  To explain buyer agency in one simple sentence it is a contract that allows a Realtor to work directly for you the buyer.  The Realtor has the capability of pulling the same information that an agent who lists the property does and also share supply and demand statastics that are crucial for determining today’s value.

If the information above doesn’t make you nervous or scare you away from purchasing a Green Bay Foreclosure please stay tuned for the next post on where to find those magical Green Bay Foreclosures.

Hire the local Green Bay WI Foreclosure Expert

Greg Dallaire, also known as “Green Bay Greg” is the ‘premier’ Green Bay WI Real Estate expert. Greg’s approach is cutting edge, utilizing creative Internet marketing strategies to get your Green Bay WI Home SOLD! If you are looking for a true local expert with a proven track record of success in the Green Bay WI Real Estate market, give “Green Bay Greg” a call today at 920-217-2647. See what Green Bay Greg’s Past Clients say about his Real Estate Services VIA VIDEO

First Time Home Buyer Credit

Who can benefit from the Expanded home buyer tax credit?

A Green Bay first time home buyer is classified as someone who has not owned a residence during the three years prior to purchase.  The new expanded home buyer tax credit now also includes a $6,500 credit for any Green Bay WI home owners that have lived in their prior residence for at least five consecutive years.

The new tax credit has also new higher income limitations for couples earning up to $225,00 and individuals up to $125,00 would be applicable instead of the old limits of $75,00 limit for individuals and $150,000 for couples.   One of the biggest increase is on the loan limits they allow a maximum home purchase price of $800,000.  As with the first tax credit there are specific deadlines that must be met.  This tax credit requires that home buyers must close escrow by April 30, 2010.

Green Bay Home Owners should see a boost in Existing home sales

This new tax credit and expansion of the program is great news for the Green Bay Real Estate Market.  We all know that the housing market is one of the key indicators of the overall United States Economy.  With this new initiative they are not just rewarding first time home buyers, they are giving an opportunity for existing Green Bay Home Owners that were thinking of making an upgrade an extra bonus.

The previous first time home buyer tax credit  according to the National Association of Realtors (NAR) has accounted for 1.2 million new first time home buyer transactions of new and existing homes were attributed to the tax credit, which has reduced supply and demand in some sectors of the Green Bay Real Estate Market.  NAR has estimated that 350,000 of the 1.2 million wouldn’t have purchased their homes without the credit.

Time to buy or sell real estate in Green Bay Wisconsin

With the enactment of the tax credit now is a great time to buy real estate in Green Bay Wisconsin and take advantage of tax credit not only for Green Bay First Time Home Buyers.  If you would like more information about this new tax credit or are interested in buying or selling a Green Bay Home please contact Green Bay Real Estate Expert Greg Dallaire.

Greg Dallaire, also known as “Green Bay Greg” is the ‘premier’ Green Bay WI Real Estate expert. Greg’s approach is cutting edge, utilizing creative Internet marketing strategies to get your Green Bay WI Home SOLD! If you are looking for a true local expert with a proven track record of success in the Green Bay WI Real Estate market, give “Green Bay Greg” a call today at 920-217-2647. Watch Video Testimonials of Green Bay Greg’s Past Clients

Copyright © 2009 By Greg Dallaire, All Rights Reserved.