Archive for tag Brian peters
May 13, 2011 at 07:11 AM
When it comes to landscaping, possibilities are endless. For the most part, if you can dream it, it can be created. Unfortunately, not all of us have the creative gene or the desire to tackle an intense do-it-yourself project. Also, most of us are not experts on blending concept and functionality.
There is so much that goes into landscaping! From the overall design, to choosing the right trees and flowers…landscaping is an art. Pick the wrong evergreen, and you will have deer visiting your yard late at night for a midnight snack until there is nothing left but branches. Pick the wrong flowers, and they may not grow back the following year.
Recently, my wife and I built a new home. Of course, with building comes landscaping. After careful consideration for several weeks, we decided to reach out to contractors and ask for written quotes. We were very surprised at the wide range of prices. The quote was to include finished grading, storm drainage, a 30 head in-ground water sprinkler system, and Kentucky Blue Grass seeding. The gap between the highest and lowest bid was $4,700.00!
After careful consideration of the bids, and meeting with representatives from each company, we decided to go with a Waukesha based company, Hardscape Concepts. We personally met with the owner, Jim, and were very impressed with his presentation and the personal commitment he made to our project. He was very detailed is his approach and walked through step by step what would occur from start to finish. He even informed us that he did additional work such as concrete, patio pavers, retaining walls, and ponds and water systems, that we are also giving some consideration to at a later date. His crew was on time each day, took time to update us on their progress, and because of some bad weather that limited their ability to work on a Friday, came and spent the entire day on Saturday catching up for the time we lost through no fault of their own.
We are very happy with the quote, the work performed, and would definitely work with Jim, and Hardscape Concepts, in the future.
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.shorewest.com
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Brian Peters
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May 12, 2011 at 04:22 PM
Summer is quickly approaching in Wisconsin which means a few solid months to enjoy lakeside living. There are really two ways to look at lake property: 1) as a primary residence and 2) a seasonal residence. How you plan to use your home plays a huge role in how you go about shopping for one. Most people looking for a primary residence want a home that they feel comfortable in, that is functional, and that has adequate storage for their possessions. A seasonal retreat is different. With a seasonal home, you only need enough space and basic functionality to get you by for a short period of time.
A yard is also something to consider. When a buyer is looking for a primary residence, they often want a home that offers a nice yard. With lake property, your playground is the lake. A sizable yard associated with a lake home is often an expensive, and unnecessary, frill. Homes that have lake frontage are usually narrow lots that have between 30-100 feet of lake frontage. This is done so more homes can be built on the lake shores which means as a owner your home will likely be placed in a very cozy manner between your neighbors. However, there are exceptions to every rule. In the world of lakeside real estate, those exceptions all have price tags associated with them.
The size of the home, size of the lot, age and condition the property is in, amount of lake frontage included, finishes, the particular lake the property is on, are just a few of the major considerations that play a significant role in how much a buyer will have to pay to realize their dream of lakeside property ownership. In most cases, some compromises and sacrifices will have to be made. As a real estate professional, if I were looking to invest in lake property, here is how I would approach my priorities as both a primary and seasonal buyer:
| Primary Residence | Seasonal Residence |
| 1) Location (lake specific) | 1) Location (geographically) |
| 2) Size (including total beds & baths) | 2) Size (enough functional space) |
| 3) Age and condition | 3) ------- |
| 4) Lot size | |
| 5) Finishes | |
| 6) Amount of lake frontage | |
While this example may be oversimplified, it does highlight the point I am trying to make. When you buy a primary residence, a very detailed and specific wish list is very important. When you buy a seasonal lake property, most of the time you spend and the memories you create will be spent outside the home. The home itself becomes, more or less, a place to rest your head when the day and fun is done. Also, don’t be surprised if the home in your price range needs a considerable amount of work. It is important to keep an open mind when shopping for your seasonal retreat. Go into a showing with the mind set that the property will require some TLC, and your personal touch, to make your dream your reality. In general, move in ready homes on a lake are a premium and tend to be homes that are used by the current owner/seller as their primary residence. If you want move in ready, you can expect the price to reflect that convenience.
Knowing what to expect can make finding and buying a home on a lake a more enjoyable process!
Posted by: Brian Peters
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April 18, 2011 at 07:22 AM
If you are currently considering whether or not now is the right time to buy a home, you are in luck. You have probably heard the term “buyer’s market.” A buyer’s market means market conditions favor buyers as opposed to sellers. This could not be any more true as we head in to spring 2011.
Southeastern Wisconsin is saturated with properties with a tremendous range in price. Properties are currently listed by sellers for a variety of reasons which may include, but are not limited to, relocation, financial hardship, divorce, and other changes in familial status. Sellers in these situations don’t necessarily want to sell, but have to sell. Because these sellers have to sell, and because there are so many properties on the market in which they must compete against, prices have fallen.
In addition to a high volume of properties on the market, interest rates remain at record lows. Over the span of your loan, these record low rates can save you tens of thousands of dollars; not to mention keep your monthly payments down.
As a buyer’s agent, I am very excited about the possibilities that are out there. The wide selection of properties and low prices increase the likelihood of finding exactly what my buyers are looking for. In many instances, I am able to find properties that even exceed expectations.
I want to remind you that as a Realtor, I do not receive any upfront payment for my services. I am only paid after a successful closing. Why do I mention this? Because if you are looking to buy a home, I want to help you find exactly what you are looking for. I want to help you find the right location, the right size, the right style, and of course, the right price. If you might be in the market for a new home, or are even curious about what is available, I encourage you to call me and tell me how I can help you.
If you would like to learn more about homes in Southeastern Wisconsin, or are looking to purchase a property, call me at 414-418-2119. I look forward to working with you!
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
414-418-2119
Brian.Shorewest.com
Posted by: Brian Peters
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April 15, 2011 at 04:26 PM
In today's economic environment, many people are wondering where to put their money. There are a lot of investment products available that range from conservative to aggressive, and everything in between. If you were to consult ten different financial professionals, you would likely get ten different investment recommendations. The truth is there is no magic crystal ball and all investments carry with them various degrees of risk and reward outcomes. The key to successful investing is to minimize risk. For me, minimizing risk means looking at the big picture first, and details second. Understanding what is going on in the economy will help you determine which opportunities yield the best potential. For example, in the last decade, gold prices have gone up over 400%. Some factors are, but are not limited to, inflation, supply and demand, the European debt crisis, as well as global politics. Any one of these factors probably wouldn't be enough to drive gold prices as fast or as high as they have, but several factors taking place during the same time frame can cause more drastic change.
Real estate investing has similar rules. Any one economic or market factor is not likely to have an overwhelming affect; but a combination of a few or more, will. There are several television shows, books, and websites that talk about how much money you can make flipping houses! Can you make a lot of money flipping houses? You absolutely can. Is it a given that if you buy a house and fix it up you will be able to sell it for a profit? The answer is, no. When flipping homes, there are several factors you need to take into consideration.
1) Your Market
The number one rule in real estate is location. People that are successful at flipping homes generally select properties in a desirable market. They want to make sure that when they are finished with the remodeling portion of the project, they will have buyers lined up ready to make an offer on their property.
2) Material and Labor Costs
When purchasing a "fixer upper", it is important to conduct a thorough and accurate assessment of the property. Ask yourself, is the property structurally sound? What changes need to be made to the property in order for it to sell for top dollar?
3) Carrying Costs
The most overlooked element in home flipping are carrying costs. From the time a property is purchased, through the remodeling phase, all the way to the day the property eventually sells, there are carrying costs associated with the project. Monthly mortgage payments, property taxes, other miscellaneous loans, are all factors that need to be considered.
Here is an example:
Property: 123 Main St.
. Purchase for $200,000
. 25% of the purchase price was cash and the balance of $150,000 is mortgaged
Remodeling:
. New kitchen cabinets $25,000
. New kitchen floor $2,000
. New living room and bedroom carpeting $8,000
. Master bath gutted and refinished $11,000
. Jack and Jill bathroom refinished $3,000
. New paint throughout $3,500
. Landscaping for curb appeal $22,000
Total material and labor cost $74,500
Timeline:
. 3 months to complete the remodel
. 3 months to market and sell the property
. Six months of carrying costs = $6,796
For illustration purposes, I have chosen a property in a community that will most likely sell in 90 days or less based on sales data. If I were looking to take on this project, the project alone would be at a cost of approximately $281,296.00. Based on a comparative market analysis, it is reasonable to assume this property will bring in around $359,000 when sold. The total profit, at a sale price of $359,000, would be $77,704. However, this return is only a projection and is not guaranteed. If problems were found during the remodel, material and labor costs could rise. If the property does not sell in 90 days or less, there will be additional carrying costs. If the market changes from the time the project is started, to the time the home is listed, the property may not sell for the initial amount expected. My personal rule of thumb for home flipping a home is a 25% return. I want to be reasonably confident that the property I invest my time and effort on will realize a 25% or greater profit when the home is eventually sold. I need this cushion to feel comfortable about potential problems or complications that may occur. In some instances, you may get a far better return. In other instances, you may not. Small profits, or breaking even, is not an option. Home flipping projects are not easy and if you spend six months to make a small amount, or break even,chances are you won't be flipping houses very long.
The most important element of home flipping is the initial property search. Only a very small fraction of homes on the market have the potential to turn a 25% profit in 180 days. The best opportunities are foreclosures and distressed properties, in a desirable market, in a market that is not over-saturated. As an investor, be patient, do your homework, and be honest with yourself. Know what you are getting yourself into before rushing to purchase a property. In doing so, you will increase your chances of realizing a sizable return on your investment.
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
Posted by: Brian Peters
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April 01, 2011 at 04:25 PM
This morning I had both the opportunity to work and tour the 2011 Realtors Home and Garden Show at Wisconsin State Fair Park. It was a great experience for me and one I hope many of you are able to experience for yourselves. If you need ideas for remodeling, landscaping, home decorating, or just about anything else, this is the place to be.
Being in real state sales, I get to see a lot of different homes on a regular basis. I get to see all different tastes, styles, and personal touches that have inspired ideas that I have used around my own home. However, there is truly something to be said for having dozens of vendors, of all types, in one centralized area for customers to speak with. Simply looking in the phone book or online would take as much time, if not more, than visiting showroom floor exhibits.
Now that spring is here, I will be undertaking an extensive landscaping project in my own yard. There is no doubt that the Realtors Home and Garden Show not only gave me great ideas, but also allowed me to meet representatives from some outstanding companies that my wife and I will likely use to assist us with our project. I was told that HGTV’s Outdoor Room with Jamie Durie has inspired many local businesses to take outdoor living to a whole new level. If you have the opportunity to visit the show, you will see what I am talking about. There is no shortage of local talent when it comes to outdoor living design!
The show began last week and will run through this weekend, April 1st through April 3rd. If you would like more information I encourage you to visit the Realtors Home and Garden website at http://www.realtorshomeandgardenshow.com/general_info/index.cfm
Go ahead and check it out…you won’t be disappointed!
Posted by: Brian Peters
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March 31, 2011 at 03:37 PM
In the past, I have always had an interest in street names. Not that I necessarily dwelled on them, but some have definitely struck a cord with me more than others. I have always thought this was a personal quirk more than a broad consideration given by most.
Recently, I have been working with a couple looking to purchase a new home. Through an electronic search, we were able to narrow t
he list of potential contenders down to three. After touring all three, we took the opportunity to talk about each of them. Of course, we talked about interior layout, how they were decorated, curb appeal, yard size, location, and each neighborhood. I was surprised to hear that as we drove through each neighborhood, the couple had noticed street names near each home.
In Southeastern Wisconsin, it isn’t unusually to find that subdivisions have a particular theme to their street names. Some are named after trees such as Oak Ave., Maple Ave., or Elm St. I have seen neighborhoods that have a Presidential theme that include Van Buren Ave., Jackson St., and Lincoln Ave. There are also neighborhoods that seemingly do not have any theme and the street names vary considerably.
We have all been told that first impressions matter. When you consider the five basic senses; visual, auditory, kinesthetic, olfactory (smell), and gustatory (taste), it is my belief that each one will have its own first impression. When I hear a street name for the first time, it triggers an image or thought for me. Street names also triggered responses for my buyers. This conversation got me thinking so I begin searching the web to learn more about street names. There are several websites that list their top ten strangest street names in America. One list I came across was compiled by Mitsubishi Motors and are as followed:
10. Tater Peeler Road, Lebanon, TX
9. The intersection of Count and Basie, Richmond, VA
8. Shades of Death Road, Warren County, NJ
7. Unexpected Road, Buena, NJ
6. Bucket of Blood Street, Holbrook, AZ
5. The intersection of Clinton and Fidelity in Houston, TX
4. The intersection of Lonesome and Hardup, Albany, GA
3. Farfrompoopen Road in Tennessee
2. Divorce Court, Heather Highlands, PA
1. Psycho Path, Traverse City, MI
As a real estate professional, it is my belief that some street names simply have more appeal or sound better than others. Whether or not, or to what degree, street names affect a buying decision is a whole different question. I believe that if a scientific study were conducted, we would see a correlation between street names, how much homes sold for, and average number of days on the market. Of course, geographic location and other variables will apply to overall results as well; but in general, I believe that streets names do play a role in home sales.
As a buyer, you have done an internet search and come across two very nice homes, each are very similar in size and style, but home number two is a much lower price. Home number one is located at 777 Happy Valley Rd. Home number two is located at N71 W26792 Divorce Ct. (Yes, Divorce Ct. is the name of a real street). I would tend to believe that even though the home on Divorce Ct. was much lower price, most buyers would prefer to live on Happy Valley Rd. I would have a hard time convincing my wife that the home on Divorce Ct. is the home for us. In fact, I think if I even suggested it to her she would pack my bags and send me on my way!
While most street names do not tend toward the extreme, the right street name may attract buyers for showings more easily than others, and as we know, showings lead to sales. If you are looking to buy or sell a home, pay attention to street names near you.
Posted by: Brian Peters
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March 30, 2011 at 07:55 PM
Let’s face it, there are companies that out there that have done an amazing job engineering products that are more durable, easier to install, or longer lasting, and of course, less expensive, than more traditional building materials. Advances in technology and design have allowed for rapid growth and development, especially in more modern times.
However, newer doesn’t always mean better. The Pyramids of Egypt, Roman and Greek architecture, and buildings of Western Europe, show us that some structures withstand time better than others. In Europe, even today, more traditional design is still used. A good friend of mine is a contractor in Belgium and I had the privilege of visiting him last year. When I was visiting, he took me through one of the homes he was in the process of building. Given that I appreciate both architecture and real estate, I welcomed the opportunity to see things from a different point of view.
In the United States, the vast majority of homes are constructed using wood framing, sheet rock for interior walls, exterior insulation material, and are finished using either wood, aluminum, vinyl, concrete, or stone siding. In Europe, the homes are framed using concrete blocks. A plaster type material is smoothed out on the inside to soften the look of the walls. A second more decorative stone is used around the exterior portion of the home to give it a more finished look. He noted that because of the thickness of the walls, the home is exceptionally well insulated which reduces heating and cooling costs.
My friend the contractor then explained his philosophical explanation as to why there remains such a noticeable difference between American and European homes. In Europe, available land near cities, worth building on, is a premium. Land parcels themselves are usually much smaller in size which requires a smaller, more modest, residence. Those that still elect to build homes, rather than buy existing, do so with the belief that the home they build will be there for a long time. Homes in Europe become a lasting part of the landscape of that area in which they are built. Conversely, in the United States, especially in areas not on the East or West coast, more land is available for the construction of new homes. When someone in the United States decides to build a new home, they typically mention size as one of their most important considerations. Whether or not the home is in good condition, or standing in a century, is rarely if ever a top consideration by U.S. home buyers. Instead, most want their new home to be large and relatively inexpensive.
Again, this got me thinking. While I agree with some of his assessments, I don’t believe them to be absolute. In Southeastern Wisconsin, the price range we see for homes varies from tens of thousands of dollars to millions of dollars. While it may seem obvious to many people, the price of a home is often indicative of the quality and type of materials used to construct the property.
For example, higher end homes more typically have:
- Real wood flooring, wood cabinetry, and wood trim
- Marble or slate flooring
- Stone, concrete, hardy plank, wood, or some combination of any or all of them, used for the exterior finishes
- Granite, quartz, or other types of stone, for countertops
More modest or basic homes are more likely to use various types of synthetic wood or veneers, vinyl flooring or man made tiles in bathroom areas, vinyl or aluminum siding used on the exterior, and laminates for countertop surfaces.
Although modern technology has come a long way, when it comes down to it, there is still something to be said for using natural materials. Whether you are looking to buy a new home, getting your home ready to sell, building your dream home, or considering a remodeling project, remember that your materials matter. While newer synthetic materials are often less expensive, it is important to consider your options. It is not a bad idea to consider homes around you and use them as a guide for your decisions. Those homes are, or will be, the homes buyers will consider your home against when they consider purchasing properties in your area.
Posted by: Brian Peters
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March 28, 2011 at 01:36 PM
If you are trying to sell your home, you need to take staging seriously. Nearly one-third of all buyers looking for a new home look online. Looking online means they are looking at photographs and deciding whether or not your home is a contender and whether or not they want to see it in person. If the pictures don’t look good, or don’t look good compared to others the buyer is viewing, you are likely to have fewer potential buyers visit your home.
Staging is also very important once potential buyers are through the door. Here are some helpful tips that will help you sell more quickly, and for the best price:
1)
Paint
When selling your home, you want your home to appeal to as many potential buyers as possible. You may love your candy apple red kitchen, but not everyone does. Paint is one of the most simple, effective, and cost efficient projects to get your home ready to sell. Very basic, light, earthy tones allow buyers to see the home’s potential and makes it easier for them to mentally decorate, design, and personalize the space. Not only does paint help broaden your buyer base, but a fresh coat of paint also feels new, fresh, and like the home has been well maintained.
2) Neutralize
Let’s face it, when you put your home up for sale you are acknowledging that you are soon moving and the home will no longer be yours. You will, at some point, need to pack up the family photos, knick-knacks, collectors’ pieces, and other random items you have placed throughout your home. That being said, it is recommended that you face this reality head on, take a proactive approach, and pack up the personal items the moment your home is listed on the market. The only items that should be seen by visitors are the items you need on a daily basis. I have sellers that ask me, “So what would you recommend we pack up?” My answer is always very simple…when listing your home, it should basically look like a hotel. What I mean by this is that anyone could come over, with a suitcase of personal items, and have just the bare necessities available to them for their visit. Basic furniture, generic décor, and kitchen items are about it. As a seller, you want a buyer to see themselves in the home and want them to already feel like they could live there. The less of you they see in the home the greater chance they will see themselves in it.
3) Fix it
If something is broken, or even looks broken, fix it. When potential buyers visit your home, they are looking for reasons not to buy just as much, and for some even more, than they are looking for reasons to buy. Don’t give them a reason not to buy your home. If you have a broken door handle, replace it. If you have a hole in your drywall, repair it. When a buyer sees a problem, they begin to worry about what else may be wrong with the home. Some buyers will say, “If this person doesn’t even fix a problem that is obvious, what else is wrong with this home?” Do repairs cost money? Of course they do. However, it can be more costly for a buyer not to fix them. Choosing to sell a home without making necessary repairs will inspire buyers to place lower offers. Buyers often over compensate when they factor repairs in to their decision.
4) Smells matter
There are 5 basic senses and smell is one of them. When a buyer visits a home, the smell of the home can influence a buying decision. One of the most common smells that turn buyers off is pet odor. I am not asking you to get rid of your furry family member, but I am asking that you keep clean. If you have a litter box, make sure clean it daily. It is not just enough to clean it before an open house or tour. The waste may be gone, but the smell is not. Also, be careful of what you spray throughout the home. I have seen sellers spray air freshener throughout their home prior to a guest arriving. One of the most common things I am then asked by potential buyers is, “What smell are they trying to cover up?”
5) Cleanliness is next to godliness
While this tip has been more or less explained in tips one through four, it can not be emphasized enough. At the end of the day, a clean home will sell quicker than a dirty or cluttered home. I would even go so far as to recommend having your home professionally cleaned. Have your carpet and rugs cleaned, toilets and tiles scrubbed, windows washed, exterior power washed, etc. To have a house cleaned from top to bottom can cost several hundred dollars, but it is money well spent. If you are selling your home for $200,000, and it costs you $1,000 to have your home cleaned, the cost is 0.5% of the listing price. Having a sparkling clean home will not only help sell your home, but it will help you get the best price.
Remember that selling a home is more than putting a sign up in your front yard. Any property can sell. There is a buyer out there for just about everything. However, as a seller, you want your property to appeal to as many people as you possibly can. Having a broad appeal will help you sell your home quickly, and for the best possible price. If you make selling your home quickly and for the best possible price your goal, the time, effort, and financial investment made will make a lot more sense and will not feel like a burden.
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
Posted by: Brian Peters
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March 25, 2011 at 07:41 AM
When thinking about insurance, most people consider it a “necessary evil.” Very few of us get out of bed and are excited to go shopping for insurance of any kind. When you get right down to it, people that have good fortune are those that will pay toward something they never use. For example, I would prefer to go my entire life paying for auto insurance coverage and never have to report a claim. For most of us, however, this is not reality. At some point, the law of averages will get the better of us and something will happen. It is not that we want to be in an accident, or expect to be in an accident, but it is important to have coverage in the event something should happen. This same basic principle goes for your health, home, and other items of value.
Recently, my wife and I received a letter from our insurance agent informing us that he was retiring. He had been my parent’s agent for three decades, and because my parents spoke very highly of him, my wife and I gladly signed up with him as well. In his retirement announcement, he mentioned that our policy would be transferred to another agent, but if we had any questions, we could contact him. I decided to take him up on his offer and contacted him. After our conversation, I decided to contact a local State Farm agent by the name of Clark Chiaverotti in Wales, Wisconsin.
His approach to customer service was appreciated. He invited my wife and I into his office, took time to get to know us, and showed us that his approach to business was more than paperwork. It would have been easier and more convenient for him to simply complete the paperwork electronically and move on. However, from a personal point of view, I appreciated Clark’s more traditional approach. I very much consider myself a community person. I like doing business with people in my community and I like attending events in my community. I am of the belief that good communities are a reflection of the people that are a part of them.
The State Farm marketing hook is, “Like a good neighbor, State Farm is there.” While I can not speak for all of State Farm’s agents, it is nice as a consumer to experience my agent standing behind the company line.
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
“Your success is my business!”
Posted by: Brian Peters
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March 23, 2011 at 04:09 PM
Each year the NCAA tournament offers sports fans exhilarating highs and gut wrenching lows. The tournament is full of last minute buzzer beaters, bracket busting upsets, the thrill of victory, and the agony of defeat. There are plays and moments that will take on a life of their own as they become enshrined in highlight reels, to be viewed over and over, when taking a look back on conquests of the past.
This year, two Wisconsin teams are still in the hunt to become NCAA Men’s College Basketball Champions. The last time both Wisconsin and Marquette made it to the Sweet 16 was in 2003. Wisconsin was the #5 seed in Midwest Region and was matched up against #1 seeded Kentucky. They were lead by their sophomore guard, Devin Harris. Kentucky prevailed 63-57 knocking the Badgers out of the tournament. Marquette was the #3 seed in the Midwest Region and was matched up with #2 seeded Pitt. They were lead by a pretty talented guard of their own, Dwayne Wade. The Golden Eagles emerged victorious over Pitt with a narrow 77-74 win. Marquette helped Wisconsinites avenge the loss suffered by the Badgers to Kentucky by beating Kentucky 83-69 to advance to the Final Four where they met Kansas who proved to have too much fire power for them to overcome. Here are some fun facts to consider since the “tournament era” began:
- Wisconsin has reached the Sweet 16 six times
- Marquette has reached the Sweet 16 thirteen times
- Wisconsin won the National Championship once (1941) coached by Bud Foster
- Marquette won the National Championship once (1977) coached by Al McGuire
- 2011 is only the second time in tournament history that the Badgers and the Golden Eagles have made the Sweet 16 in the same year
This year, to advance into the Elite 8, the #4 seeded Wisconsin Badgers will have to beat #8 seeded Butler in the Southeast Region. This year the Badgers have relied on the steady performance of junior guard, Jordan Taylor. That game will take place on March 24th, and is scheduled to start at 9:57pm Eastern. The #11 Marquette Golden Eagles will have an arguably tougher challenge as they take on #2 seeded North Carolina in the East Region which is schedule to take place on March 25th at 7:15pm Eastern. They will need their junior guard, Darius Johnson-Odom, to continue his clutch performance if they are to move past North Carolina and on to the next round. In 1977, when Marquette won the tournament, they had to beat North Carolina in the Championship game to do so. The Badgers and the Golden Eagles have never advanced to the Elite 8 in the same year.
It is noteworthy that should Wisconsin and Marquette win their next three games, they would play their fourth game against each other and the winner of that game would be crowned 2011 NCAA Men’s Basketball Champion.
Best of luck to both our Wisconsin Badgers and Marquette Golden Eagles!
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
Posted by: Brian Peters
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March 23, 2011 at 07:06 AM
In 2010, MSNBC ran a story announcing that Milwaukee had topped the annual list becoming the worst-selling housing market in the entire country.
As someone that calls Southeastern Wisconsin home; as someone who enjoys traveling and has seen much of the United States; and as a real estate professional; I can not help but ask myself the question…why?
Over a century ago, Milwaukee competed with Chicago as one of the Midwest’s largest metropolitan cities. They both offered a beautiful location, nestled along the shores of Lake Michigan, with various attractions and night life. Both cities were home to thriving businesses and offered job opportunities to those looking for employment. So what happened? What catapulted Chicago to become the nation’s third largest city and caused Milwaukee to eat their dust? The short answer is the railroad and the long answer is politics.
Around the turn of the 20th century, Chicago and Milwaukee were two cities competing for the rights to a major Midwestern train station linking rails from the east coast to those in the west. Chicago triumphed, won the rights, and from that point on, the landscapes of the two cities have never been the same. Chicago has become a major hub for business and industry on a global scale. Milwaukee has grown, but not to the extent of their neighbors in the South.
However, times have changed. We are no longer dependant on the railroad to the extent we were a century ago. Land is a premium and there is only so much lake frontage to go around. Why is Chicago still a desirable place to call home and Milwaukee is...well…Milwaukee? The answer is politics.
Since losing the railroad hub to Chicago, Milwaukee has been plagued with some of worst leadership in the nation. During the first half of the 20th century, Milwaukee became a center for socialism. Milwaukeeans elected three Socialist mayors during this time: Emil Seidel (1910–1912), Daniel Hoan (1916–1940), and Frank Zeidler (1948–1960). Milwaukee is the only major city in American history to have done so. These leaders have been pro-union, anti “big” business, and have stifled most attempts to capitalize on Milwaukee’s geographic location and beautiful vistas. In the later half of the 20th century, Milwaukee has not performed much better in terms of development. Liberal leadership has continued pro-union, anti-business sentiments, which ultimately cost Milwaukee a recent loss to Chicago. Miller Brewing Company decided in 2008 that the business and political climate in Milwaukee was not in their best interest an opted to move their headquarters from Milwaukee to Chicago.
So now in 2010, we are told Milwaukee is the worst-selling housing market in the country. In thinking about this sad state of events, being a person that loves my state and calls Southeastern Wisconsin home, I tried to look past the doom and gloom. Another local Wisconsin company [West Bend Mutual] reminds us that every dark cloud has a silver lining; and then it hit me. Milwaukee is at the bottom. It has nowhere to go but up. If you are looking to start a business, in a major metropolitan city, it is unlikely that you will find a better piece of real estate, at a lower price, then you will find in Milwaukee. If you are a home buyer, and you want city living at an affordable price, there is an abundance of condominiums on the market located right downtown, only a short walk from some of Milwaukee’s best bars, restaurants, and entertainment venues. Why pay a premium to live in downtown Chicago when you can experience a very similar lifestyle at a fraction of the cost?
How often have you said, or have heard others say, “Man, I wish I would have gotten in on the ground floor of [THAT] opportunity!” Some people bought Google, Microsoft, Wal-Mart, and other great investments for pennies on the dollar. Some of those people made more off their small investment than they made working a life time at a 9-5 job. Milwaukee is a ground floor opportunity. Will politics still play a major role in progress, growth, and development? It absolutely will. However, it was Gandhi that said, “Be the change you want to see in the world.”
Milwaukee is a beautiful diamond in the rough. It has the potential to be so much more than it is. It is a ground floor investment with the potential for greatness. Like most investments, however, the rewards will go to those with the vision to see what could be; those bold enough to put money behind that vision; and those willing to take actions necessary to turn potential into reality.
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
“Your success is my business!”
Posted by: Brian Peters
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March 22, 2011 at 11:42 AM
As a Realtor, my objectives when selling a property are rather straight forward: Sell my client’s property as quickly as possible for the best possible price. For years, home buyers have purchased homes with belief that when it came time to sell, they would make a profit. More recently, we have experienced a recession that has dramatically affected the housing market. Much of what is currently transpiring is due to several factors such as lax lending standards, historically low interest rates, and speculation.
With interest rates low, loans were being issued at a more rapid rate. Lax lending standards allowed borrowers that wouldn’t have typically qualified for loans to receive them. With more money pumped into the real estate market, supply was comparatively low and demand was high. One of the most fundamental rules of economics is when supply is low and demand is high, prices go up.
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In recent years, practices have become unsustainable. A greater number of borrowers have failed to make their payments and have ultimately defaulted on their loans. More and more homes on the market have become short sales, foreclosures, and sellers that need or want to sell because it has become increasingly difficult to carry the cost of their property. In regards to short sales or foreclosures, in most instances the bank or lender is not looking to receive “market value” on the property; rather, they are trying to recover the outstanding loan amount on the property.
With more and more homes on the market, and fewer buyers looking or qualified to purchase, supply is high. Although interest rates in the early part of 2011 remain at historic lows, lenders are now more cautious about whom they issue loans to and want to be certain that those they are issuing loans to are both able and likely to make required payments on their loan. Again, basic economics…when supply is high and demand is low, prices fall.
As a home seller, you want to sell your home for as much as you possibly can. This makes perfect sense. However, a home, or any item for that matter, is only “worth” as much as a ready and able buyer is willing to pay for a particular piece of property. At this time, I want to offer some simple advice if you are currently in the market as both a seller and a prospective buyer.
1) Before you place your home on the market, have a Realtor perform a market analysis for you. The best way to determine what your home is “worth” is to learn how much similar properties in your area have recently sold for. In addition to learning how much homes have sold for, also ask your Realtor for a list of properties that have recently expired. In most instances, a listing has expired because the property was listed above, or a seller was not willing to accept an offer, at a price a particular market would bear.
2) After you have reviewed properties that have both sold and expired, familiarize yourself with listings that are currently active in your area. Again, think about supply and demand. If supply is high and demand is low, and you want to sell, pricing your home more competitively will make it easier for you to attract potential buyers.
3) HERE IS THE OFTEN OVERLOOKED TRICK – talk with your Realtor about homes in the area in which you would like to move. Have your Realtor find you homes in your desired location that are a great value. These may be homes that offer the most square footage, upgrades and amenities, acreage, etc., in the area in which they are located. Value is a personal judgment that takes into account what is received for the price that is paid.
As a seller, you may not be able to make a profit on your home when selling. However, you may still be able to come out even or ahead if you understand how to be a savvy buyer. In this market, it is even more important to work with a good real estate professional. When working for their seller, a good agent will be able to determine the correct list price for your property, market the property effectively, and takes steps necessary to ensure a successful closing. When working for their buyer, a good agent will help their buyer find a property that not only meets their needs, but is also a good value. A wise investor can come out ahead in any nearly any market, whether good or bad, if they understand economics.
You may have heard the saying, “Smart investors buy low and sell high.” In this market, I would also argue that you can come out ahead if you are willing to sell low and savvy enough to buy lower!
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
“Your success is my business!”
Posted by: Brian Peters
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March 21, 2011 at 02:30 PM
Winter has come and gone, Spring is here, which means fish fry season is in full swing. If you are looking for a great fish fry near you, or looking to journey off and try something new, I have put together a list of the top five places to visit in Southeastern, Wisconsin.
1) M.J. Stevens – Hartford, WI
5260 Aurora Rd
Hartford, WI 53027
From the minute you walk in to M.J. Stevens, you will be impressed with its old world charm. The stain glass and décor gives some visitors the feeling they have stepped back into a classic European establishment. The fish fries are lightly breaded and come in a variety of portion sizes to match your appetite. The prices are very reasonable which means visitors are able to keep both their stomach, and their wallet, full.
2) Wegner’s St. Martins Inn – Franklin, WI
11318 West St. Martins Rd.
Franklin, WI 53132
If you are looking for a classic beer battered cod, look no further than Wegner’s. Most locals know how good this fish is and it is evident from wait times that last up to two hours! However, fear not, there are three options for those that would prefer to avoid the long wait. The first option is to visit them for lunch. They serve lunch on Friday from 11:30a.m. until 2:00 p.m. and generally wait times are minimal. Option number two is to arrive early. They open their doors for dinner at 4:00pm, and if you get their early, you can avoid the long waits. The third option is to call in and place a carry out order. Because of the limited seating and long wait times, Wegner’s offers customers the ability to call in, place their order, and pick up their meal complete with fish, fries, cold slaw, and rye bread!
3) The Packing House – Milwaukee, WI
900 E. Layton Avenue
Milwaukee, WI 53207
The Packing House has a long and storied reputation as having an outstanding fish fry. Located on the North end of General Mitchell International Airport, the Packing House has become known as the place for Friday fish. The ambiance is classy which makes it a great place to bring a date, but also a good choice for entertaining a business associate or client. Because of their reputation, once again, arrive early or be prepared to wait.
4) Historic Turner Restaurant – Milwaukee, WI
1034 N 4TH St.
Milwaukee, WI 53203-1304
If you want a pub style fish fry, and the ability to enjoy downtown Milwaukee, Turner’s is the place. Located across the street from the Bradley Center, Turner’s is the place to go in Metro Milwaukee for a pub style plate of fish. Because it is relatively large, wait times are reasonable ranging from 15-45 minutes most of the time. However, it is recommended you call to inquire about wait times given the possibility of increased traffic, which is at times, attracted by various events taking place at both the Bradley Center and U.S. Cellular arena.
5) The Golden Mast – Okauchee, WI
W349 N5293 Lacy's Ln
Okauchee, WI 53069
When it comes to food, The Golden Mast finds itself on top many lists, and the fish fry is no different. It leaves guests with a smile on their face, and for some, leftovers to enjoy the next day. The beautiful vistas of Okauchee Lake are even enhanced by the regal atmosphere on the inside. It is a perfect place to take a date, especially if your date appreciates a good fish fry. For those of you that are thinking, “This one is probably expensive”, you may be surprised when you stop in and give it a try!
If you are like me and love a good ol’ Friday fish fry, then I highly recommend giving these places a try. In fact, if you know of a fish fry that you feel should have made my list, I too welcome trying new places. You can email me at BPeters@shorewest.com. Who knows…maybe your favorite will make next year’s top 5!
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
Posted by: Brian Peters
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March 18, 2011 at 10:16 AM
As a person that pays property taxes, you may or may not know where your money is going. For many of us, it is not much of a concern so long as our trash is picked up, our water is running, and our streets are plowed. However, what you may not know is that the majority of your property tax money goes toward your local schools. According to the Center on Budget and Policy Priorities, roughly 38% of property tax dollars are spent on education. This is higher than Medicaid, corrections, transportation, and public assistance combined.
There is no doubt that education and our schools are immensely important. A thriving society relies on the overall contribution of those it is comprised of. When it comes to education, Waukesha County is serious. Schools in Waukesha County have a lot to be proud of. They consistently rank very highly when it comes to test scores both at the state level, and nationally. According the Public Policy Forum, 93% of Waukesha County students are proficient or advanced in reading. To put this into perspective, the national average for students proficient or advanced is 32% according to National Center for Education Statistics, 2000.
What may also impress you about Waukesha County, in addition to their achievements, is how they have accomplished their success. Municipalities of Waukesha County have relatively low taxes comparatively speaking. Waukesha County has been able to maintain consistently high academic success without resorting to absorbent costs. On average Waukesha County spends $10,788 per student each year according to a 2009 report released by PublicPolicyForum.org. The average in southeastern Wisconsin is $11,107 and the average cost per student nationally is approximately $10,000 on average depending on various sources referenced. Although Waukesha is slightly more costly per student than the national average, their standardized test scores are considerably more impressive. From a business standpoint, it is easy to argue that Waukesha County earns a high return on their investment.
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
Posted by: Brian Peters
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March 17, 2011 at 06:42 AM
Whether on Wall Street, or in Real Estate, wise investors buy on the basis of value. When looking at value, there are a number of different items for consideration. Of course, we all know about price, but there are certainly others. Personal values can mean as much, and to some even more, than monetary value. When in the market for a property, consider the following:
1) What location do I want?
When considering location, also ask yourself why you picked a particular location. In doing so, it will help you get a better understanding of what your purchasing values are. Are you a city person of county person? Do you have a car or need access to public transit? Do you have a reason to look at certain communities that are well known for their school system? Do you want a newer home or one in an established community? Is shopping important to you? Is there a specific need you must have such as a home on lake, in a golf community, a condominium complex with a host of onsite amenities, or possibly an area that has abundant acreage so that your home feels like a private retreat?
2) What are my needs?
Many people begin the buying process by telling their Realtor, I am looking for an “X” bedroom home, with “Y” baths, that is around “Z” square feet. This is a great start. I also ask buyers, not only to consider what they want, but why they want certain features. Buying with purpose helps many buyers gain a better understanding of X, Y, and Z, becomes it helps them determine how they would use various rooms of a home when touring potential purchases.
3) How long do I plan on making this place my home?
There are short-term and long-term buying decisions that need to be addressed. When a buyer is looking at a short-term property, they need to consider factors such as, what is the average number of days on the market in a given area? Some neighborhoods see homes sell in weeks, while others have homes remain on the market months or even years before selling. Does a particular area hold its value better than others? When the economy fluctuates, some communities have greater price volatility for various reasons. Are you buying a “fixer-upper”? If you are looking to buy a property, put some sweat equity in it, and sell it for a profit, you need to know exactly what the local market allows in terms of pricing so you don’t find yourself putting more into the home than you will get out of it. Lastly, a consideration that is often overlooked is financing. If you intend on making your new home a short term situation, you don’t need a conventional 30 year fixed mortgage. You can save yourself money by choosing a 7/1, 5/1, etc. Adjustable Rate Mortgage (ARM).
4) What are your “non-negotiable” must haves?
When looking for new home, many of us have a preconceived notion of what we “must have”. In doing so, we may have buying blinders on and lose out on other great opportunities that could be equally as perfect for us. For example, a buyer may tell their agent, “I want a three bedroom home, with three bathrooms, on a one acre lot, that is not older than 10 years, in a particular city.” While having an idea of what you want is fantastic, it is important to keep an open mind. Your Realtor may find a home that meets or exceeds the buyer’s needs in 4 of 5 of the requirements, but learns the home is 20 years of age. However, the home has been completely remodeled in the past two years which means it is modernized and has many of the amenities a buyer would find in a new home. Having a Realtor you trust, and being open to what they have to offer, can mean you not only get what you are looking for, but it may even exceed your expectations.
5) Lastly, of course, we have PRICE
When Forbes Magazine releases their annual list of the world’s wealthiest people, one name that is at or near the top of the list each year is Warren Buffet. Incidentally, Warren Buffet made much of his wealth through real estate transactions. A great quote to keep in mind is, “Price is what you pay. Value is what you get.” As a buyer, you have to determine a property’s value. If you are buying the property for financial reasons, and want to be reasonably confident that you will turn a profit on the sale of the home when you decide to sell, the end result goal has to be considered as part of the buying strategy. As a buyer looking to improve the likelihood of making a profit when reselling, it may be advantageous to look at foreclosures, short sales, and distressed properties. When making an offer, it is important to understand that the offer may get rejected and that the seller may not be willing to part with the property for what you, as a buyer, are willing to pay for it. A buyer purchasing for investment purposes has to be willing to leave emotion out of their buying decision and willing to walk away from the deal and move on to another option. Conversely, if as a buyer you have a very specific wish list, plan to be in the home for a longer period of time, and are shopping for a property in a very desirable neighborhood, there may be a premium to get exactly what is desired. For this type of buyer, the value is not in how much is paid for the property, but that the property is exactly what they are looking for.
At the end of the day, every buyer is different. What is important is that each buyer consider what is important to them, what their needs are, and what their personal values are. Knowing the value of something is more than knowing what its price is!
If you are looking to buy a home and what to learn more about properties near you, please visit me on the web at Brian.Shorewest.com
Brian A. Peters, M.B.A., M.S.A.
Shorewest Realtors
Brian.Shorewest.com
“Your success is my business!”
Posted by: Brian Peters
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