January 06, 2012 at 12:00 AM · Posted under Glenn Hanon
A few months ago, I was honored to be featured as the first agent of the month for a national blog "Keeping Current Matters." As a fellow blogger, I have always been highly impressed with the KCM team and their up to date analysis of the real estate market. What I appreciate most about their blog is that the KCM team is intent on providing accurate analysis of trends, developments and the voluminous data that permeates the media with respect to real estate. Steve Harney, the founder of the blog, and a guy I can really relate to says, "It isn't good news and it isn't bad news it's just news." This really sums up part of their approach.
The other little know factoid that the public may not know about is that the KCM team really cares about neighborhoods. As Realtors, we are on the front lines of the ever changing market and it is up to us to help everyone we meet to make the best possible decision when it comes to selling their home. It is the only way we really are going to pull, kick and drag our way out of the mire. So kudos to you KCM for your commitment to real estate and each seller who needs an expert to navigate the turbulent real estate waters.
As of today interest rates on a 30 year mortgage with no points is hovering around 3.875%. You may wonder if that is a good rate. Revisiting the past can shed some light on this question. If we look back 10 years it was January 2002. We had just lived through the horrific events of 9/11 and real estate sales were reeling from the trauma of that awful autumn.
Interest rates at that time were at 7.375% with no points! At the time this was a great interest rate. To put this into perspective, let's look at the difference in payments from 2002 to 2012.
For a $200,000 mortgage the payment in 2002 would have been $1,381.35 amortized over 30 years.
In 2012, that same mortgage amount with today's low interest rates is $940.47-- a savings of $440.88. But here is where the power of the interest rates gets very interesting.
Let's assume that one can easily afford the $1,381.35 payment of 2002, what does that do to the amount borrowed? The payment with the lower interest rate now allows the same buyer a mortgage amount of $293,700. The lower interest rates allow you to purchase a bigger home for the same price.
If you are thinking about upgrading your home now is an opportune time to take full advantage of the low market rates.
December 27, 2011 at 12:00 AM · Posted under Glenn Hanon
Difficult times cause some people to take drastic action without thinking. If you are in the midst of a very tough real estate scenario, I want to encourage you to think before you act. I am referring to a sale of a home where the seller, due to some very difficult circumstances, found himself in a short sale which quickly turned to a bankruptcy. The large home had many fine accoutrements, most notably the high end kitchen. The owner, thinking these “fixtures” were his to do as he pleased, (they were not) decided to sell the Sub-Zero refrigerator, Wolf ovens, cooktop etc., you get the picture of what happened. Light fixtures were sold, under cabinet lighting, in-ceiling speakers, a fireplace and the list goes on. In essence, the homeowner stripped the house. This warning is for sellers and would be buyers on internet resale sites. These items could be considered “stolen goods.” The penalty for a homeowner is severe.
The bank in this case decided to pursue criminal proceedings against the past homeowner—Grand Larceny, a fine punishable up to 10 years in prison and a $25,000 monetary fine. Buyers of these stolen goods can be tracked down as well. If you thought the deal on the gas cooktop was too good to be true, it may have been. Buyer beware is often the rule of thumb for these types of sales. As a buyer, if you think the property is stolen, you could be in violation of Wisconsin Stats 943.34, which is a felony depending of the value of the stolen items. If you know someone who is going through a tough time please encourage them not to take this course of action. It is in their family’s best interest to think before they sell. Families face real devastation with the loss of a home, but prison time should not be part of the equation. Let’s all help those we care about most to do the right thing.
December 21, 2011 at 05:43 AM · Posted under Glenn Hanon
The end of the year is always a great time to look back at past achievements and milestones. Here are a few that I thought are significant.
Q: How many unique visitors have clicked on Shorewest.com? A: 2.6 million or 50,000 per day!
Q: The public will hear that home sales have increased 20-25% in 2011. What percentage sold under $300,000 in 2011 in the Lake Country Area? A: 70%
Q: How many HOTLINE calls has Shorewest received this year on our listings? A: 6,500
Q: What is the percent increase of a home in the LC area since 2000? A: 30%
Q: What percentage have homes decreased in LC since the peak? A: 21%
Q: What is the consensus of the expert economist’s opinion as to where home prices will be in the first quarter of 2012? A: Down 5%-7%
Q: Who is the local Expert in Real Estate in the LC area? A: Glenn Hanon—I know I couldn’t resist, but it is true!
2012 holds some unique opportunities in Real Estate, despite the predictions. If you are looking for solid expert advice feel free to give me a call. Have a wonderful Christmas and a safe New Year! Go Pack Go!!
December 02, 2011 at 05:11 AM · Posted under Glenn Hanon
After 23 years of assisting families with the purchase or sale of a home I have noticed trends in behavior, currents as you will, of thought. A homeowner’s biggest concern is what they will eventually sell the house for. I will highlight three phases of the sale process that most sellers go through.
The first stage is denial and anger. The seller generally does not like the listing price since their perception of value is very different from the market reality. When an offer comes in lower than the list price anger tends to surface. Many sellers quickly move to denial, the wakeup call to the market is often met with swift resistance and a disbelief that the agent really understands what he or she is doing. Some agents are met with outright hostility.
The second stage is consent. For some sellers consent comes quickly and the opportunity of an offer turns into a contract of sale. For others consent comes long after the first offer has passed. Guess what? The seller now has a better understanding of value but makes the fatal flaw of thinking the lost offer price is the new market price. Experienced agents know what I am talking about and this is why we continually try to educate sellers that the first offer is the best offer in good markets and in bad markets. This ‘post offer consent’ can continue to frustrate a seller primarily because they still have not relied on their agent as a valid sounding board.
The final stage is acceptance. It is in acceptance that the seller puts their full trust in their agent. Sellers who do well selling homes have this trait in common. They trust their agent to give them good information, to think of their interests above the agents interests. They rely on the professional to give professional advice. The seller does not necessarily like the price that they are accepting but they understand intuitively that the odds for a better price diminish with time. This is especially true with a declining market that we find ourselves in today.
As a seller your best interest to you, is in the agent you select. Selecting an agent to represent you because you like the price they are telling you is not always the best indicator of true success. Successful sellers enter the relationship with acceptance. Ask for facts and data. Let the agent prove that he or she knows what they are talking about. Look at their track record of success and be willing to listen to what the market is telling you, even if you don’t like it. This acceptance will most likely save you thousands!
November 28, 2011 at 08:57 PM · Posted under Glenn Hanon
This charming home in Hartland, WI got a big lift with this timely redo. Watch the video to see what we started with and how we ended up. The owners knew they needed a change but did not know where to start. With the help of a stager we put our heads together and came up with a game plan to revitalize the heart of this home. What a transformation! The homeowners were fantastic and heeded the advice. New counters, sink appliances, lighting and painting made a big impact.
Sometimes the more you say something the more you believe it to be true. If numbers don’t lie then let’s take a look at what actually happens year after year. From the graph you can see that the inventory levels swell significantly each spring, however the level of sales does not increase as much as the new inventory level leaving a large gap between sales and new inventory. The closer we can get the new inventory level and the current sales level to meet we have a very healthy market. Year in and year out the same trend persists. Several questions come to mind with this trend and there are two groups of people that can take advantage of this information—sellers and buyers.
Let me explain. If I were a serious seller I would rather be on the market when there are fewer homes on the market. If I am priced correctly, regardless of market, my home will sell. Here comes the tricky part. A good deal of the “swollen” inventory is from sellers who are thinking about selling but are not serious about correct pricing and thus their price is generally higher than the market. This is why they wait until spring to list their home. They are more fickle than committed sellers. If I have to compete with these folks then it is incumbent on me to be very accurate. Later on in the year, when most sellers think the market is bad we actually see just the opposite. The level of sales reaches to the level of inventory—a very good thing, and as a seller the fewer homes I have to compete with is always better.
Does this benefit a buyer? Wouldn’t I want more homes to compare to than fewer? Yes and No. Let me address the yes first. As a serious buyer do you want to spend time looking a wide variety of homes that are not realistically priced with sellers who will not sell them for the true market value? Probably not. And as a buyer would you rather compete with 5 other buyers or 15 for the inventory? Today’s buyer, just like the seller, does not want to compete with a surging supply of buyers.
From my experience of selling homes for the past 24 years, I can say with accuracy that most of my January’s are better than my July’s! In July school is out, the family is off on a vacation and house shopping is for another day. In January serious buyers are out looking at homes. If I were a seller I would rather sell my home in the “off-season” than in July when everyone is off for the season.
Now the numbers bear out what we have experienced for the last few decades. If you are serious about selling your home there is no better time than now.
October 26, 2011 at 12:39 PM · Posted under Glenn Hanon
There is no doubt that the burst housing bubble continues to have a dramatic effect on the real estate market. Wisconsin and more closely, Waukesha County feel the devastating consequences of the foreclosure market. Waukesha County Sheriff’s department has processes about 50 sheriff sales per month. The pace is the same as in 2010. However the notices of foreclosure action filed with the department year to date equal 1,258 new cases! 125 new notices of future foreclosures are filed with the sheriff’s department each and every month. This coupled with the short sales have created an interesting toxic brew in the real estate industry. Now, let’s pull the numbers apart.
The chart to the right shows the average sales price of homes from 2000 to 2011 based on MLS statistics in the greater Lake Country area. If you purchased your home in 2000 for $262, 515 and your home is now worth $344,418 and you put 20% down on your home your new equity for your home is $82,000 or a 56% return on your initial investment (ROI). Yes, your home is worth much less than the peak in 2006 but your ROI is an astounding 56%! How did the S&P do for the same period? According to MSNMoney.com, the S&P is down 19% from January 2000 to October 1, 2011. So why do we have all the distress? Many used their home as a piggy bank during the run-up in prices and re-leveraged their home to the 2004 or 2005 prices. Their home was a good investment but the misuse of the investment has left some upside down which in the end has adversely affected current pricing. The level of incoming foreclosure action comes down to an important point: The oversupply of inventory will remain for some time. If you are selling now it would be wise to price your home compellingly.
September 09, 2011 at 03:21 PM · Posted under Glenn Hanon
Three years from now as you are having one of your famous parties some of your friends will want to hear the story of how you managed to get this fantastic home for such a deal. They will all say to you, “I wish I knew about this house, I would have bought it.” But the reality is that you are the proud owner of this stately Nantucket home with six natural fireplaces. As the guests mingle on the lavish porch overlooking your private pool your peers muse a loud that they cannot believe you bought this six bedroom home with two offices and a playroom that is the envy of most for only $795,000. “How does this guy get so lucky?” is the common refrain. You know that luck had nothing to do with it. As Ernest Hemingway said, “You make your own luck” in other words you took full advantage of the market and turned what some viewed as a desperate situation into your own personal gain. Today the opportunity is right before you, will you “make your own luck?” This stately Nantucket shingled-styled is awaiting your approval. Click for a private viewing.
August 01, 2011 at 01:17 PM · Posted under Glenn Hanon
I had to think of a catchy title to make you read this post. I bet you have come across a buyer who thinks they want the condo life but may not be prepared for the close proximity of a condo lifestyle--The “In betweeners.” This home is not a condo but will appeal to the buyer who is looking for something very unique and trendy. Perhaps the couple who wants an urban lifestyle—this has it.
The same couple may have looked at condos and was disappointed with the quality. The custom planning and attention to the finest details is what makes this home truly unique. The first floor master suite and great entertaining spaces feel like a condo yet all the privacy of a single family home are to be enjoyed. And the views of the private wooded yard offer tranquility that few condos can ever offer.
Why not pass this along to your condo buyers? Priced at only $269,900 it is truly affordable. A smaller yard makes this easy to maintain. Located in quiet Oconomowoc 950 Duchess Drive is the perfect blend of trendy urban chic condo with private spacious feel of a quality home.
It doesn’t feel like spring yet, but then, April is not over either. I have listed below the major events that will soon take place. Jot a note of the one that best suits you and your family. Click here to check out a map of the parks in Oconomowoc that I received from the Parks and Recreation Department.
Spring Gallery Night (Downtown Oconomowoc) May 6
Farmer’s Market Saturday’s beginning May 14 thru October 29
Memorial Day Ceremony at the City Beach May 30
Legion Band Concerts—Bandshell Wednesdays June 15 thru August 17
Moonlit Movies (a must see if you have not been to one) June 16, July 14 (Fowler Park) August 18 (Downtown Oconomowoc)
Badgerland Ski Team Shows (Fowler Lake) June 16, July 14 (Just before Moonlit Movies) August 4
Concerts in the Park (Bandshell)Thursdays June 23, 30, July 7, 21 & 28
Fourth of July Parade and Fireworks (Fowler Park) July 2 (crazy huh??)
Festival Week August 13-21
Street Dance August 13—a fun time for everyone!
Ice Cream Social, Legion Concert and Parade of Lights (City Beach) August 14
Kid’s Day (City Beach) August 16
Festival of the Arts (Fowler Park) Artists from around the globe! August 20-21
Here are a couple friendly reminders with the parks in the City of Oconomowoc:
Dogs are not allowed
Roosevelt Park does have a dog exercise area
No fermented beverages or intoxicants after 10pm in the parks
Please don’t feed the ducks at the boardwalk or the parks
You can reserve Park Shelters. Please call the Superintendent of Parks at 262-569-2180 for more information.
March 30, 2011 at 12:00 AM · Posted under Glenn Hanon
Now that you have found that perfect house and you are so excited to write an offer the tension starts to mount with the offer you submit to a seller. Here is a simple tip that can avoid some pain or problems down the road. The WB-11 Residential Offer to Purchase has a provision on line 269 regarding an appraisal. Above this section on line 220 there is a blank for how many days for you, the buyer, to provide the seller with a loan commitment letter. On line 269 are the days required to get an appraisal done on the property. If the days are the same, for example 45 days, the buyer could potentially put themselves in a difficult position. If your lender needs the extra time to process your file and the appraisal is due the same day that the loan commitment is due you could be out because you could not meet your appraisal deadline which was needed to obtain the loan commitment. Do you see the potential for a problem? Perhaps the appraisal contingency should be sooner than the actual loan commitment so as to give your lender time to receive the appraisal, then issue a loan commitment. Some lenders do not see a problem with this since they are on top of the dates and the appraisal is done sooner. But in some cases this could be just the out the seller needs if they have secured a second offer. Dates are important in an offer. Please consult with your real estate professional or an attorney for further advice on this topic.
March 29, 2011 at 12:00 AM · Posted under Glenn Hanon
For a long time I would keep track of my ‘things to do’ on scraps of paper or put a note in my phone, but the haphazard approach left me forgetting some important things to do. A friend of mine told me about an application that could save me tons of time and frustration. Nozbe was what he suggested could keep me on track. So what is Nozbe anyway? It is a great reminder of ‘things to do’ projects that you have on the back burner that should be moved forward, a list of people to call or whatever you need to organize. It is fantastic and everything goes to the ‘cloud’. The best part of Nozbe is that it talks to Evernote, which I use daily. So let me give you a for instance. Rather than putting little notes on your computer, phone or on actual paper you can keep all these tasks in one place—staring at you like my dog does when she waits for her food! It is a quiet persistent tool to help keep you on track. The check box is just begging for you to complete your task so you can put that big green check mark in its place—Finished! What a great feeling marking things off the list. I have household projects on the list with a time to complete the task—like June 2020. I have recommended this to some friends but they say they are not that organized to use an organizer. Hmmm…Did they really say what I thought they said? This is a great app IF you want to remember what it is you were supposed to do but almost forgot.
March 28, 2011 at 12:00 AM · Posted under Glenn Hanon
Do you remember those heady days back a few years ago when your then neighbor turned-real-estate-investor, would buy a house with almost nothing down, then borrow money to renovate the house? Shortly after the renovations were complete they would flip the house—a new term in real estate was born, Flippers. Ahh those were the days… (Said with tongue firmly in cheek) Now with the real estate bust in full swing, the past sins are what many are blaming on the decline of our real estate values. Today if you want to buy a home and borrow to renovate that home you are out of luck, right? Not so. Guess who is offering 100% financing or little to nothing down, NO appraisals required and will actually lend you money to fix the house? Some subprime lender who charges tons of points? Some fly by night organization? No. Sorry you are wrong; it is good ol’ Uncle Sam. Yup Fannie Mae, you might have heard of them lately, like this article in the WSJ regarding Fannies interpretation of subprime loans. Today Fannie is offering such a risky program to purchase their distressed inventory through a program called Home Path. BUYER BEWARE there are gimmicks and tricks with loans and programs like this. Here are some things to be wary of:
Low down payments only hurt the borrower and surrounding neighbors. If you default on a home path loan because you got in over your head, we just don’t need another foreclosure.
Watch for hidden closing costs. Generally these low down payment deals come with several thousand dollar price tags for points—in other words a rip off
What are the conditions that you have to meet in order to qualify for the loan
Is there an appraisal required? Some of the Home Path loans do not require appraisals! Hmmm… sounds a lot like 2004 before the bubble popped
Buyer Beware as to the condition. There are no warranties or disclosures. Inspections should be mandatory if you are a buyer.
You need an attorney. Some of the forms with this type of program will be on state approved contracts and others will not. Your Wisconsin Real Estate professional cannot interpret forms that are not approved by the state. It is the law. Hire counsel!
Use extra caution when engaging in these types of programs. Get lots of information before you commit and please seek good real estate advice regarding the price of the home in the area you are purchasing. Why am I so opposed to this program? Because the ‘fix’ that the government is using to liquidate the thousands upon thousands of bank owned properties will not fix the problem. The crisis we are facing now is that some homeowners feel that it is okay to walk away from their mortgage because they are not heavily invested in the property. This program perpetuates this conundrum. Home Path will attract responsible home buyers, there is no doubt. But it will also attract many who simply should not be in a home at this time, plus the government will assist them in adding to their debt! If this was happening in the private sector the Feds would frog march these charlatans in front of the world to see what loathsome, seedy characters are still preying on the public. The second reason I think this is inequitable is that only the government can offer this type of program, while the regulators are constantly peering over the shoulder of private banks to see if they are being good stewards with their money. The hypocrisy is startling and frightening. What Fannie is doing with this program is just shifting the monthly debt service to a consumer rather than the taxpayer. But if Fannie were to discount the property and require that the borrower use 20% of their own money then the true shift in debt obligation would shift from the taxpayer to the consumer, where it should be. Remember when this was a good idea?
March 25, 2011 at 07:46 AM · Posted under Glenn Hanon
The other day a buyer that I am working with had their home inspection and it made me think about some past transactions. These are good times for a buyer to find out some additional things regarding a home. Unfortunately some buyers use these inspections as opportunities to re-negotiate the price they paid for the home. If there are legitimate concerns that were not discovered during the sale process by all means they should be discussed and hashed out between the parties. What concerns most sellers and their agents is the use of a home inspection regarding maintenance issues. For example; when a buyer views a well-kept home that is 15-20 years old it stands to reason that the furnace is original. Most manufacturers will say that their furnaces have a life expectancy of 15-20 years. This does not mean that the furnace will stop running in year 21. Nor does it mean that they will chug along for another 20 years. Some buyers will use this opportunity to obtain a new furnace from the seller because of the age of the older unit or have the furnace tuned and cleaned at the home owner’s expense. Some sellers are eager to have this done (which begs the question why didn’t you do that before you listed the house, but that is another topic) and some start to argue. Buyers should know that maintenance is a part of homeownership. If you are purchasing a home you should have funds available to repair things that break or replace things that stop working. This is part and parcel of ownership. I have known of buyers to call back past sellers years after the sale looking for financial assistance for repairs that the now buyer-turned-owner needs to take care! Sounds silly but it actually happened. Buyers beware—you will have to maintain your property.
March 22, 2011 at 12:00 AM · Posted under Glenn Hanon
The southern half of the Oconomowoc Bike trail is open to all you who love to ride your bike without the fear of cars whizzing by. The Oconomowoc portion of the Lake Country Trail starts at the site of the Imagination Station at the Roosevelt Field in Oconomowoc. In the past the trail ended at the intersection of Valley Road and Sawyer Road. Today you can pedal south towards Delafield where you can pick up that portion of trail at the corner of Delafield Road and Sawyer Road. Last year Delafield completed a stretch from Mill Road east to Downtown.
The yellow highlighted area pictured above is the final addition to the Oconomowoc portion of the bike trail.
With the warm weather City of Oconowowoc residents can ride from Oconomowoc to downtown Delafield on a nicely paved trail! What a treat. Hopefully one of these days there will be a link from the Pabst Farms subdivision to the bike trail. This will help connect this neighborhood to the downtowns of Delafield and Oconomowoc in a safe and friendly route for bike enthusiasts and kids. Wisconsin offers some great opportunites for trail rides throughout our area and the state. For more information on Rails to Trails in Wisconsin click here.
March 21, 2011 at 08:00 AM · Posted under Glenn Hanon
Currently in the greater Oconomowoc Area there are approximately 33 homes in the MLS system that are listed as REO (Real Estate Owned) or Short Sale Properties. You can view these homes via the attached link here at Oconomowoc REO. If you are interested in REO or Short Sale properties there are a few things to keep in mind.
Short Sale homes can take longer to process than REO’s. It really depends on the lender and the process they use to move these homes through their system. Many of the larger banking institutions are now using the Equator system, which is a computer platform that allows the negotiators to organize large batches of files. There is very little person to person contact with this system, however it is very efficient. The down side to the Equator system, from my past experience, is that I have never received a signature that the deal has been Okayed, even though we progress towards a closing. This can make a buyer very jittery for obvious reasons.
REO properties are generally managed by an out of state asset Management Company. The condition of these homes is generally ok to poor. As a buyer you will want to do your homework on these homes before purchasing. You will most likely need an attorney since their addendums are not on approved Wisconsin forms. Only an attorney can interpret and give advice on these forms.
Just because the home is in distress does not automatically mean you will get a “steal” on the price. Be prepared before writing an offer.
Short Sale properties will require lots of information about you the buyer IF you want to be considered by the lender.
Some Short Sale properties will require the seller’s permission, the lenders permission and the investors’ permission to sell. If the seller has declared bankruptcy you will have to wait for the courts permission as well. These are things you should know before spending lots of time waiting for your dream home.
REO sales can change on a dime. If you have submitted an offer on a REO and have received verbal acceptance, this DOES NOT mean you will end up with the house. If another offer comes in after your offer for more money or better terms, the banks will most likely take that deal despite what they have told you. BUYER BEWARE.
All in all it sounds like a hassle, but remember the old adage, with much risk there is great reward. Your professional Realtor can help you decide if that property is indeed a good value.
March 18, 2011 at 05:28 PM · Posted under Glenn Hanon
Well my last post on piers and the new regulation prompted some interesting comments from readers. Some are still convinced that they do not need to register their piers. Nothing could be further from the truth. Please note the following post from the Wisconsin Realtors Association. If you have questions about this feel free to contact me, as some of you have, or call the WRA. Their number is on the post below. If you do not live on waterfront property, please pass this post on to your friends or relatives who do. Thanks so much. It is great working with all of you who have called with your concerns. This is a great way to get this valuable info out to everyone. Important Stat: According to the DNR there are 10,000 piers in the State of Wisconsin and only 300 have registered so far! The task is daunting, but we can do it.
March 16, 2011 at 12:00 AM · Posted under Glenn Hanon
On April 9th, 2011 The Oconomowoc Tri- Club (Rotarians, Kiwanis, Lions Club) is presenting their 3rd annual spring concert featuring “Four Guyz in Dinner Jackets” and “Two Rhode Girls.” You can purchase tickets by calling 262-569-3989 or online at www.theoac.net, or through a member of one of the three clubs. As a Rotarian, I would be happy to assist you with this. There are three price levels for the tickets:
Dinner & Center Section Seat for $50.00 (per person)
Prime seat location for $25.00
General admission for $20.00
The program is wonderful and if you have not been to the OAC (Oconomowoc Arts Center) you are in for a real treat. The dinner will be hosted at the OAC, so call now while tickets last!
March 15, 2011 at 07:52 PM · Posted under Glenn Hanon
Tom Larson of the Wisconsin Realtors Association stopped by the Shorewest office in Oconomowoc to a packed house of Shorewest Agents, other Realtors and Homeowners to share the new regulations concerning piers and Shoreland Zoning requirements. If you are a waterfront owner the new regulations are important for you to know and understand. Tom was kind enough to provide the power point presentation to me and I am sharing this with you. If you do not own a lake front home but know of someone who does please pass this information on to them. Here are some key points from the discussion this morning.
April 1, 2011 is the deadline for existing pier registrations. If you have not registered your pier PLEASE do so ASAP
March 14, 2011 at 12:00 AM · Posted under Glenn Hanon
When it is time to sell a homeowner generally wants to get the most they can for their home. Well there are ways to make that happen. Preparing your home for the sale is a good place to start. HGTV is a great channel to get all sorts of ideas on how to get your home ready to show, or follow along as buyers think about what home to purchase—hmm reminds me of that episode of House Hunters with yours truly, but I digress. I have a FREE booklet that is available if you want to know what you should do to get your home ready to show and SELL! Just contact me at the office, 262-567-4349 or Toll Free at 1-888-HEY GLEN and I will send this absolutely FREE booklet to you to help you prepare. Call while supplies last!
March 11, 2011 at 12:00 AM · Posted under Glenn Hanon
Charles Schwab completed an Investor Confidence Survey this past September and they reported on some interesting results. The question was asked to over 12,000 participants what they would do if they received a $25,000 windfall. Here is how the numbers broke down:
62% of the surveyed participants said that they would invest the money
29% said they would save the money
24% would use the money to pay off debt
14% would spend the money
6% would donate the money to charity
The survey allowed for multiple responses. So if you received a windfall what would you do with the money? It is interesting to note that a vast majority would invest the money. Savvy investors see an opportunity in the market and in housing. This is the time when real wealth will be created. Are you taking full advantage of this real estate market?
March 10, 2011 at 11:45 AM · Posted under Glenn Hanon
REO properties (Real Estate Owned) are generally held by the lender and are serviced by an asset manager, typically out of the state. There are a number of things to consider when purchasing an REO property. Blindly purchasing a REO simply because the price looks good can get some buyers into trouble. Here are a few things to keep in mind:
1. Most asset managers or lenders do not know that actual condition of the property. They have no idea if the pipes have burst and the basement has 1’ of standing water.
2. REO transactions are “AS-IS” sales and the REO seller usually uses their own REO addendum. If the REO seller is out of state your agent cannot interpret this document for you as a buyer. You need an attorney. It is the law.
3. Most REO sellers will negotiate verbally with you as the buyer. Only written contracts are enforceable. If the REO seller receives a better offer you will most likely be out.
4. Many REO sellers use out of state title companies, which may not be familiar, our laws. This can present a real problem with conveyance if the title company is taking short cuts to save money on the policy.
The bottom line when purchasing a REO property is that first you should be working with an experienced agent who understands the pitfalls and second you will most likely need to engage legal counsel to help navigate the paperwork.
February 25, 2011 at 12:00 AM · Posted under Glenn Hanon
The old adage goes like this, “I’ve got good news and bad news, which do you want to hear first?” The article in the Wall Street Journal by Nick Timiraos and Justin Lahart posted yesterday poses that question. The good news is that economists believe that the overall economy is in recovery mode (although some disagree with this) however real estate is still lagging. Why is this good news? When the economy builds some steam and the threat of job loss becomes a distant memory, the housing market can begin to see some stability. The Wisconsin unemployment market is less than the national market, but is still in troubled waters. We have a long way to go before job loss becomes a distant memory. What’s the bad news? According to the article, home prices are continuing their downward slide, and it is predicted that we may see further erosion over the next two years. So what do we do in the meantime? Sellers who compellingly price their homes will do better than sellers who competitively price their homes. In a sliding downward market, if a homeowner is trying to catch the market (competitive price), they will generally be behind the fall in prices. In other words, they are always the higher price just out of range of most buyers. But the seller who compellingly prices his home will find that they are always in the “mix” with the buyers looking to purchase a new home.
There are buyers out there who are looking for a home to live in, raise their children and avoid the hassles of apartment living. We can all work together to help those buyers and sellers realize their objectives. It isn’t good news or bad news…it is just news.
February 24, 2011 at 08:37 AM · Posted under Glenn Hanon
Not too long ago, I was on a conference call with pros across the country, discussing our individual real estate markets. While there are definite differences from the Southeast and East to the Midwest, there are many more similarities in each of our markets. Here are a few of the issues that my friends and I encounter with this “new” market.
Staging is one of the top strategies in a highly competitive market. If you ponder this for a moment, it makes a lot of sense. In any given price range there are countless homes vying for the attention of a diminished buyer population. With many of our buyers today determining their “show list” online, the more attractive a home actually determines IF that home will have in-person visits. A colleague of mine said that not only are we in a price war, but we are in a beauty pageant as well. How true!
This leads me to my second point. One of the most important things a seller can do is to price their home at a compelling price. Most of the pros on the phone conference noted competitive pricing does not work anymore. This is the tension point with most sellers who are disadvantaged with a lack of real time information regarding home values. The professionals see day in and day out what is happening in the local markets with foreclosures and short sales. We know from each transaction how these prices are affecting our neighborhoods, and it is up to us to educate the sellers we sit before on a daily basis as to the real value of their home. This is not an easy discussion, but is one that we must have if we are to see a turn-around in our local real estate markets.
One of the points that resonated with all the conference call attendees is that we are the vital link to our sellers as to what is working and what is not working. Those factors are now changing quite rapidly and the agents that are on the forefront will have a better advantage than those catching up with the market. Most agents I know are well-informed.
I am a third generation Realtor and my grandfather and father have never seen a market like this before. We are in unchartered waters where the old rule book no longer applies. The best way to navigate through these turbulent times is to work with your Realtor. You may not like the advice or the price, but in the end it may be the very best advice you recieve.
February 17, 2011 at 02:51 PM · Posted under Glenn Hanon
There are many fine young people who make it to American Idol because they are convinced they have talent. Some do and some don’t. It really is up to the judges on the show to discern the talent levels, after all they are professionals. And yet some of these “talented” contestants leave befuddled that the judges did not recognize their talent–case in point with this short video clip. In today’s quickly changing real estate market, many sellers think they “know” the market, when in all reality it is really up to the professionals to help them see the true market. Randy Jackson, J-Lo or Steven Tyler knows talent when they see it, regardless of how the contestant protests their greatness. This applies to professional Realtors who know the market, regardless of the protests from Sellers. Like the befuddled contestant the American Idol judges are sending them a message. Listen to your Realtor, even though you may not like their advice, it could save you thousands of dollars!
January 14, 2011 at 04:57 PM · Posted under Glenn Hanon
In this blog, I discuss how you can transform a small laundry room with a busy wallpaper pattern into a more serene space. If you have removed wallpaper before, you know the hassle that comes with this tedious job. Stripping paper is never easy, until now. In this laundry room, the homeowner uses the services of Daryl Anderson from Anderson Painting (414-861-1234) who recommends that we first strip any loose edges of wall paper. Once this step is finished, he skim coats the seams and rough edges of paper with a drywall mud. This dries and then he sands thoroughly. An oil based primer is applied and then a sand texture is rolled on the walls. Note: if you are not experienced in rolling on sand texture do not attempt to do this on your own. Professionals make all the difference when it comes to this step. The final process is to paint the walls the new desired color. The wallpaper actually becomes the new skin of the drywall. With this process we have eliminated the time consuming effort of wallpaper removal and repair of the damaged walls. Because this room was initially prepped for wall paper, a sand texture would be needed if you spent time stripping the old paper. I hope you enjoy the video from HEY GLEN.
January 11, 2011 at 12:00 AM · Posted under Glenn Hanon
The answer is easy if you are into beer! They are both brewers that will be featured at the Oconomowoc Rotary’s Fifth Annual Brewfest this February 12th at Olympia Resort and Conference Center in Oconomowoc Wi. The price per ticket is $40.00 and the proceeds benefit the Oconomowoc Rotary Charitable Foundation. What a great event to spend with your sweetheart this February. Your ticket to Brewfest includes several food stations and a variety of Beer and Wine Tasting Stations. From the Mexican Station to the Chocolate Fountain you can indulge in some great food and liquid libations! Olympia is also offering a Brewfest Package for the out-of-town crowd that includes a guest room, spa access, 2 Brewfest tickets and all taxes and gratuities for only $168.00. For more information on Brewfest, click here. If you do not want to order tickets on-line, drop me an email at and I can order tickets for you. Rotary is committed to serving the local community and as a proud member of Rotary, I hope you will join me for this evening of fun!
January 10, 2011 at 01:14 PM · Posted under Glenn Hanon
If you own property on a lake or river, you need to take note of the required pier registration that is due by April, 2011. The new legislation went into effect in the summer of 2008 which regulates the placement of piers on Wisconsin Waterways. Most piers are exempt from the regulations but as a pier owner you are required to register your pier. For information on how to register please click here.
On the bottom of the page is a simple “Decision Tool” that will assist you in this process. There is also a short video to determine your “Pier Size”. You can click here to log on and watch this video.
If your pier was placed BEFORE February 6, 2004, the pier is eligible to be grandfathered in through registration. You must apply for an individual permit to be grandfathered. This is important!!
Please check out the websites if you own a lake or river home. If you have a relative or friend, please pass this along to them as well!
December 16, 2010 at 04:13 PM · Posted under Glenn Hanon
A common question asked by most people who have their homes for sale at this time of year is, “Is anyone out there really looking at homes, just before Christmas?” In the upper Midwest, the question could not be more salient, too. Believe it or not the answer is Yes!
Today as I look out my office window the temperature is a balmy 9 degrees and we just finished a severe blizzard this past weekend. The streets were cleared in a day and the serious buyers were back out looking at homes. The traffic in any given home may not be the same as in late spring, but the buyers that are looking today are serious. Why else would someone tramp through the snow and look at homes unless they wanted to buy something now!
According the Wall Street Journal today, 30 year mortgage rates are at 5.06%. With interest rates so low, buyers are taking advantage of the supply of homes and the great rates. The relocation market is moving at this time of year too. The week between Christmas and New Year’s has proved to be busy in past years. The relocating family needs to find that perfect house and the “down time” is an ideal time to narrow the field to the perfect home. So if you have your home on the market, hang in there. This is a good time of year.
October 22, 2010 at 10:36 AM · Posted under Glenn Hanon
Short Sales are becoming a common term in the American Lexicon these days. A short sale is when a bank agrees to a reduced amount originally owed to prevent a foreclosure action; which in many cases would net the bank less money in the long run. Real Estate practitioners, buyers and sellers are sometimes left scratching their heads as to why a good offer, in these difficult market times, is rejected by the lender which will most likely be sold for less than the short sale price. Once a home is foreclosed on, the banks are responsible for winterizing the home, keeping up with maintenance items, keeping HOA fees current and paying real estate taxes. These costs can be substantial given that it sometimes takes banks months to get the home back on the market and then even more months looking for a new buyer. So why do banks do this? If you follow the money you will find the answer. Since many of the mortgages were packaged as CDO’s (Collateralized Debt Obligations) and sold as investments on Wall Street, the real owner of the mortgages are not the banks but the investors. The banks are concerned about investor actions against the banks for selling a home short. The plot thickens. Many of the investors have insurance on the investments they made to protect them from a loss. The insurance cannot be collected in a short sale agreement, but it can be collected in a foreclosure action. Some banks are trying to shift the risk to the investor, who in turn shifts the risk to the insurance company. But in the end the economy suffers the brunt of this “shifting” because a foreclosed sale is generally for much less than a short sale. As a homeowner we don’t want any short sale comparables in our neighborhood since they reduce the overall market value of our homes. But we certainly don’t like the foreclosed stats since they are so much worse. A rejection of a short sale doesn’t make sense to us, but it makes cents to banks and investors.
October 21, 2010 at 03:27 PM · Posted under Glenn Hanon
Sometimes it takes a big event to remind us of small tasks that need to be done to prevent bigger trouble. What am I talking about? Friends of mine sold their home and shortly after the sale the house burned to the ground. We hear about this from time to time, but the closer the tragedy strikes to home, the more you begin to rethink certain things, such as fire safety, escape routes and insurance. On the latter note, I spoke with my insurance agent about this and discovered that the insurance law says that the insurance company does not have to pay you for anything that you cannot prove that you owned. Now many insurance companies employ a degree of grace in this area, but let’s face it; how often do I digitally record the more valuable items in my home? If you have a special piece of art or a valuable antique that you have not taken good pictures of from multiple angles this might be a worthwhile reminder. How about an expensive road bicycle? Is that properly insured? Do you know what it would cost to replace, from scratch, your entire wardrobe? How about the piano you inherited from a relative? When I began to think about this I realized how little of what I own is actually documented.
June 27, 2010 at 05:00 PM · Posted under Glenn Hanon
Grumbling, venting, complaining and overall frustration. Those are just a few of the emotions felt when it comes to property taxes especially in a market when you may never sell your home for the assessed value. So what can you do? I have included a copy of the appeal process from the state department of revenue here for your revue. You need to make sure you understand what your rights are when it comes to your property evaluation. You can contest your assessed value and if the municipality does not agree with your opinion you can appeal this to the state. The appeal needs to have factual data. Simply venting about your situation will get you nowhere. I hope this information helps as you prepare to re-negotiate your assessed value on your home.
June 26, 2010 at 06:57 PM · Posted under Glenn Hanon
The heartbeat of my business is the lifeline of referrals. I love them as most do. There is no greater compliment on past service than a referral for future service. Did you know though, that if your brother is moving from Dallas to Phoenix that I can help too? That is right I have been doing this for years with the help of our relocation department. Shorewest belongs to one of the largest relocation networks in the country—RELO. As a founding member of this network we are at the forefront of assisting transferring families. With a few calls I can make sure that your favorite relative obtains the same great service with an experienced agent for that big move whether it is here or to Anchorage Alaska. So next time you need a trusted advisor in San Diego give me a call and I will make sure that you or your relatives, friends or neighbors get the best possible agent for the move. Feel free to call me at the office 1-888-HEY GLEN or email me at if you need assistance.
June 25, 2010 at 12:00 AM · Posted under Glenn Hanon
I love a good Reuben and I think I have had some of the best around the country. Nosh-A-Rye on Longboat Key is as authentic as you get. Well a new restaurant opened here in Oconomowoc just the other day. For those of you locals this is the old Chuck’s Supper Club. The new establishment is Burke’s Lakeside and it is located on Valley Road about a mile and a half west of Hwy 67—right across the street from Silver Lake.
I met a friend there for lunch today and quickly scanned the menu for a Reuben and to my relief they offered one with a huge plate of fresh fries. My midline could do without the fries, but I have to try them for the sake of the blog! This scrumptious sandwich offered thick strips of corned beef a light sauce and not too much sauerkraut on a beautifully toasted marble rye all for an affordable $8.95. We sat on the deck since it was less humid today, but the inside of this new eatery is very trendy with linen table cloths, nice flatware and a comfortable environment. I definitely want to try their dinner menu in the near future. I think I found my new favorite place for the trusty Reuben.
June 23, 2010 at 11:07 AM · Posted under Glenn Hanon
Why is it that many buyers do not make offers on homes that they have some interest in? The best way to answer this question is to give you a glimpse of what I have witnessed over the past 20 years.
Many buyers do not want or like to negotiate. It bothers them for a few reasons, first of which is they probably feel they are not good at negotiating, and like public speaking, they fear the process. Many do not like haggling over the price for a home. The fear is that they will have left “money on the table” which prevents them from entering the process.
Some buyers have bursts of anger which is counterproductive in negotiating.
In a University of Washington/University of Colorado study by researchers Leigh Thompson and Reid Hastie, they concluded that the more a person can learn about the other person’s interests and desires the better the outcome for you. In other words, if you are trying to win at all costs you probably won’t get a very good deal. But if you want to obtain a great deal in whatever you are negotiating for, investigate what the other party wants and values and be willing to give it to them. Both parties rarely value the same thing.
The fear and frustration of negotiating are two factors that keep many, not all, from writing offers on a home that is overpriced. That is why it is so important to price your home correctly right from the start.
June 22, 2010 at 10:00 AM · Posted under Glenn Hanon
In my last blog entry I discussed some of the objections buyers have with homes. One dicey topic is price. Sellers generally want more than the house is really worth and buyers generally want to pay less than the house is really worth. There are several reasons why you should price your home right from the beginning.
1.An overpriced house generally sells for less than a comparable home that was priced right from the start.
2.Most buyers don’t like to negotiate when the price is out of range
If I price my house high I have room to wiggle, so why is this a bad idea? Some sellers still think that this is an appropriate model for pricing your home. Rather than debate the merits of this let’s look at it from the buyers perspective. Remember the buyer is looking at many homes and yours is just one in the “Tour of Homes”. A typical buyer will look at 35-40 homes before purchasing a home. They will become experts on pricing in a relatively short period of time. They will understand what the price point offers for “Shoulds” in a home. A “Should” is granite counters for some homes, finished basements for some, in-home theaters for others. You get the idea. The buyer will also have a list of features that they prefer in their home. This list of preferences comes from their personal experience in their last home. For example, if the buyer is from the south they maybe accustomed to all brick homes, soaring ceilings and painted woodwork. Here is a timely piece of advice I give to all potential sellers; A buyer with cash in hand, no home to sell is NOT coming to buy your home—they are coming to cross it off the list! IF your home has enough of the items that most buyers want then you will probably make it to the next step, BUT if you do not have enough of those items, then your home will be removed from the list. This is where pricing comes into the picture. Homes with fewer of the features generally cannot command a market level price. The price must reflect not only square footage, but the amenities of the house. I am not saying this, the buyers are. If you have a lovely home that is 5,000 sq ft finished basement and the home was built in 1995 and you have not made any updates to your home since then and you are competing with a 2008 home that is essentially the same size, take a guess at which house the buyer might go for?
This is the hardest part of selling homes—giving the seller the hard facts. I have always been committed to this. A seller deserves the honest truth in a kind manner of course. Think about your home from the buyer’s point of view and you will do well in the long run. I will discuss point #2 in my next blog post.
June 21, 2010 at 08:16 PM · Posted under Glenn Hanon
Sometimes concepts or ideas make better sense if you can see the issue from another perspective. If you are thinking about selling your home a Buyer’s perspective may help you make better decisions. I produced a DVD called “What a Seller Should Know” and it is a compilation of interviews of real buyers on various topics. I provide this DVD to prospective clients. It lets them see what a real-time buyer thinks and says when walking through a home. I asked all of these buyers questions like, “What do you think when you see a litter box for the cat” or “What do you think of plug-ins or potpourri? All of the respondents indicated that the sight of a litter box was a huge turn off. Now I found this personally interesting because over the past 20 years of selling homes I have had few buyers vocalize an objection to this issue. But the buyer’s in the interview said that the sight of cat poo in the box was disgusting and they began to wonder if the cat peed and pooed in the house, while this is gross it does indicate that the aversion was strong enough to deter them from pursuing the home. Many buyers are allergic to animals and the reminder of a pet can be an instant disqualifier.
The plug-in/Potpourri answers were obvious because I have seen firsthand buyers react very poorly to plug-ins when viewing a home. Most buyers feel that the seller is trying to hide an unpleasant odor in the house. In many cases they are correct. If you have an odor problem in your home– fix it. Many owners cannot smell pet odors in their own home so it is always a good idea to ask the agent if they can smell the pet or offensive smell.
Here are a few other issues that buyers have with homes that they view and their assumptions about the home.
1.Overall un-cleanliness of a home meant the seller did not care about the house and probably did not care for major items like the roof, furnace and overall upkeep of a home. Can you see why having your home presentable for showings is so critical? Sometimes you never get a second chance.
2.Overpricing the home gave the buyer license to either write a very low offer or in most cases pass on the house. They want to make an offer on a house that they feel the price is in line with the market.
The pricing issue I will discuss in my next blog post.
When a REALTOR provides advice on how best to market your home, listen to them. We have years of experience and have worked with hundreds of buyers. We see firsthand what they like and don’t like. Tap into the resource, it could save you thousands of dollars.
June 21, 2010 at 12:00 AM · Posted under Glenn Hanon
Do you know where your lot lines are? You may have an approximation of where those lines are but if you have an outbuilding or utility easement running through your yard a survey may help avoid problems in the future. Shorewest offers a service through Blueline Technologies that can help avoid these problems. Here are some benefits of a survey with your home:
1.Surveys are the only way encroachments or other land defects can be properly identified.
2.Surveys before closings help prevent unnecessary delays or problems at the closing.
3.Sellers who provide surveys are eligible to receive coverage against future claims involving property line disputes.
4.Surveys completed at the time of listing can uncover any potential problems that can be addressed before an offer is obtained.
5.Providing a professional survey can help your property stand out from competing properties
6.Great references for future projects.
If you would like to know more about obtaining a survey for your home feel free to contact me at the office, 1-888-HEY GLEN–just one more service that I can provide to make your home more competitive in the market.
June 19, 2010 at 12:00 AM · Posted under Glenn Hanon
When you are selling your home one of the requirements in the Offer to Purchase is that the Seller pays for the Title Insurance Policy. When the Offer to Purchase forms were changed early this spring, one of the provisions in the new contract was an option for the Seller to pay for a GAP endorsement to the title insurance policy. The option is almost always included in the offer to purchase based offer language. I won’t digress on that for now. Soon after the offer to purchase is accepted by both parties it now becomes a “Contract of Sale” and the listing agent usually orders a title insurance update. The title company will search for any liens or encumbrances against the property that is being sold and will issue, shortly after the offer is accepted a “Title Insurance Commitment” This is not the actual policy. The formal policy is issued about 2 weeks after the closing and is sent to the new homeowner. This time period between the issuance of the title commitment and the title policy is called a GAP. In this gap in coverage a seller technically could purchase a boat or car, use the house as collateral all un-noticed by the title company or the buyer. The Gap endorsement is signed by the Seller, under oath, which states that the seller will be responsible for this activity during this gap in actual coverage. I know you would never do something like this, but that is why we have a request for GAP endorsements with offers now. Someone abused the system.
June 18, 2010 at 12:00 AM · Posted under Glenn Hanon
The Town of Summit and City of Oconomowoc’s new firehouse has a new address—just off the Oconomowoc Parkway and Hwy 67. The state of the art facility will be a welcome addition to the city and town. The current fire station on S. Concord Road will continue to operate and serve the south side of the city, but with this new structure train traffic will not impede service to part of the city of Oconomowoc. The bike path runs right past the firehouse so if you are out with the kids on your bike you can’t miss this impressive building. If you begin your journey by the Imagination Station in Oconomowoc and head south and east the trip to the firehouse is only about 5-6 miles. We have so many great resources here in Oconomowoc to take advantage of. If you have not been on the bike path try it out—It’s FREE!!
June 17, 2010 at 12:00 AM · Posted under Glenn Hanon
It is always great to see builders busy these days with the ‘new’ real estate market. In the Brightwater subdivision, just across the street from the new Aurora Hospital, Kingsway Homes is busy building a new home. I have the house on Waterstone Circle listed for sale at $475,000 and this gorgeous subdivision has all the accoutrements of fine living. Let’s start with the clubhouse. A well appointed clubhouse with outdoor pool, bathrooms and a large gathering area is available for use by residents.
What I like most about this fabulous neighborhood structure is one, the design is beautiful and two the quality inside is high end. The quaint older manor home, which I have listed for sale, is a terrific deal in the upscale development and has a detached carriage house complete with studio apartment, fireplace and full kitchen. The main house offers a Viking kitchen, granite counter tops, slate floors, Jack ‘n Jill bedrooms upstairs and 3 natural fireplaces in the main house. This unique property has the largest lot in the development at 2.5 acres. We are looking for someone who recognizes value when they see it and wants amenities such as the clubhouse and lake access.
June 10, 2010 at 12:00 AM · Posted under Glenn Hanon
The Wall Street Journal reported on Monday that the FHA delinquency rate was slowing over the 2009 trend. They reported that only 8.5% of the loans in April were 90 days late vs. a high of 9.4% in January of this year. That is a lot like saying that last year our favorite sports team improving its record of losing 10 of the 11 games played vs. all 11 games lost the year before. The bottom line is the team still stinks. The housing market will continue to suffer due to a few fundamental factors.
First, low down payment loans are always risky. FHA has raised the threshold for the minimum credit score to obtain a FHA backed loan to 660 but buyers with stellar credit and little to no down payment will still walk away from the house IF they find themselves in difficult financial times, i.e. a job loss. The lenders of non FHA loans have tightened their standards and requirements for a loan much to the consternation of us in the Real Estate industry, but those buyers are less likely to default since they have lots of their own money into the home.
The second fundamental reason we have a troubled Real Estate economy, is that employers are still less likely to add to their ranks. Once job hiring becomes a routine event then this confidence will quickly move into the housing sector and we will see more than a glimpse of good news it will be here. But in this time of good news and bad news there is one thing we can do and that is to clearly look at the housing market with an unbiased view. Then and only then can we make really good decisions. For home owners who want to sell this is a good time. Yes you will sell your home for less than you thought, but you will also be buying for less too AND interest rates are so low that it seem silly not to make the move. We have seen an uptick in activity. Guess what? There is no tax credit. Savvy sellers know that they can sell their home now and buy a bigger or better home or for that matter downsize and do it all for less.
June 09, 2010 at 10:11 AM · Posted under Glenn Hanon
Last night I was mingling with a bunch of friends and the topic came up. “What is your favorite restaurant?” My ears perked up since finding a good place to dine is like finding gold. Well not really, but you get the point. One of my friends is a real wine enthusiast and he seemed to know quite a few of the finer places, what the menu is like and the overall cost–who needs Google with this guy around? The great thing about this as a topic is instantly you will find out if others have tried the establishment and what they thought. If only the owner or manager of the restaurants could have heard the conversation. Sometimes the critique was less about the food and more about the service or attitude of the staff. Now I am not ripping on wait staff because they have a tough job. But here is one example of how a great place can miss the mark. This friend of mine visited one of his favorite places and quickly used the facilities before ordering. There in the restroom was a member of the wait staff who forgot to wash his hands!! Creepy huh? My friend said he should have left then seeing how he is a germ-a-phobe, but relented only to find that the dirty waiter was going to be his waiter! Feeling sheepish he didn’t say a word. I would have said something. He continued on with his meal but has not been back since. That little slip- up cost that well known and well respected restaurant business. The best thing my friend could have done was to politely tell someone. How can they fix the screw up if they don’t know about it? We all want second chances when we mess up, but what we don’t want is someone yelling in our face about how rotten we are. I think that is called civility. So if you see someone make a mistake let them know. If you see me mess up let me know…nicely, and if you have a favorite restaurant let me know that too.
April 26, 2010 at 03:52 PM · Posted under Glenn Hanon
On Tuesday April 20 th I sat down with then Mayor, Maury Sullivan and asked him to reflect on his past six years as the Mayor of Oconomowoc. The Mayor reflected on a number of his accomplishments, most notably he feels he is leaving the office with a city that is in good shape from a fiscal perspective and from a staffing function. According to the Mayor, when he first took office the city was spending $100,000-$135,000 on street repairs. This past year the city allocated over $3M for street repairs.
When asked what stands out most to the Mayor as an accomplishment he listed the road upgrades while conceding that there is much work to be done there. The new growth in development within the city which he quotes from State reports that the city has benefited from $559 million in new construction within the city over the past six years. Other projects have been stalled due to financing, most notably the Rockwell project in the downtown area and the Pabst Farms development. City finances are the Mayor’s third area of accomplishment. “During this last six years there has been a relatively low increase in levy, this last year there was no increase. The levy for the city is the fifth lowest of 190 cities in Wisconsin.” said Mayor Sullivan.
Prior to his election as the Mayor of Oconomowoc, Sullivan was the Town Chairman for the Town of Summit, soon to be the Village of Summit. During those litigious years the City and Town were at odds over a border agreement. This past December roughly 4500 acres merged into the city as part of the 10 year border agreement between the two municipalities. Over 32 lawsuits were filed as a result of the announcement of the Target Distribution Center. “I felt that quite frankly this was foolishness and I advocated with the Town Board to negotiate and they had tried litigating, but that had mixed limited success and started negotiating with the boundary agreement in 1999.” We no longer have litigation…I wasn’t thinking of this as an accomplishment while I was Mayor. Clearly Sullivan’s involvement as Town Chairman and his 3 term tenure as Mayor of Oconomowoc has had an impact on the relations between Summit and Oconomowoc.
When I asked the Mayor to look forward as he leaves office, he sees that most of the issues that the city will face are issues related to development, growth in the city and the hot topic of impact fees. When I asked Sullivan about the impact fees, he stated, “I think they will not be changed, because the impact of having residents pay for development impact fees would be so substantial that I don’t think that the taxpayers would agree to that.” The bigger issues facing Oconomowoc are the downtown areas and the Pabst Farms Development. A good deal of concern about the future of the Pabst development is still on many minds in the community while DDR continues to bring forth plans for the new mall, most have realized that the plans once promised to the city with high end retailers such as Nordstroms will not materialize.
The biggest hurdle for the new mayor is a balancing what Pabst would like to develop with the public’s perception of what they were promised. The demographics don’t tend to support the higher end retailers for our area and of course the recession has not helped the plans for the new mall. Optimistic and upbeat about the future of the city the former mayor has no plans to drift into the sunset. Sullivan would not rule out a run for this office or any other office at the moment. For now he plans on enjoying time off with his wife Ann in our great city.
April 12, 2010 at 08:49 PM · Posted under Glenn Hanon
On Tuesday April 6th the votes in the City of Oconomowoc decided it was time for a change at the top. 3 term incumbent Maury Sullivan was replaced by Jim Daley. Recently Jim spoke with me about his vision for the City of Oconomowoc. The turnout for the election was higher than other “off year” elections with 27% of the residents casting their votes.
Q: Were you surprised by the turnout this past Tuesday?
Mayor-Elect Daley: You know our campaign thought we had a very strong message. The need to focus on our downtown and allow responsible development and responsible growth in our community –these are issues that are important to Oconomowoc. We were very optimistic going into the election but the turnout and the margin of victory were at levels that exceeded our expectations. I think it shows how strong the message was.
Q: What is your first priority when you take office?
A: Mayor-Elect Daley: The first priority is to stop the bleeding from the commercial and retail level from the downtown. Both the downtown areas and the Pabst Farm Development need the community’s attention to move forward and build support. We need to be business friendly but also protect the community’s interests at the same time. The downtown revitalization has to be the #1 priority and I think to do that what we need to do initially is to work on fees, the bureaucracy and the red tape that makes it less desirable for business to come to Oconomowoc. I want our city hall message or mantra to be Oconomowoc is open for business. We are here, we are aggressive and we want investment dollars and businesses in our community to serve our citizens. With the economy being how it is, all communities are in an extremely competitive status of trying to draw quality business into their environments and Oconomowoc right now is making itself very uncompetitive. The proof of that is there for anyone to see if you drive in downtown.
Q: What are your thoughts on the Fowler Lake Revitalization Project?
A: Mayor-Elect Daley: From my understanding of the project, it was the result of a lot of compromise from a lot of different parties and I want to dig deeper into this to make sure that it’s not the “left-overs” of compromise. I don’t question that the Fowler Lake waterfront needs to be addressed. My concern for a project this big is that it has to be done right and I don’t think this can be a fast track item. This is the kind of project when we are talking about pristine lake frontage we should really be looking at this long term in a forward planning manner. I don’t want to address Fowler Lake for what is good for tomorrow, rather what’s good for the next generations. It is an immensely expensive project which I think its time has come but it needs to be done right. I think there are some issues with the current proposal that need to be refined before we move forward
Q: The high speed rail stop in Oconomowoc has garnered much attention. Rep Joel Kleefisch recently introduced legislation regarding the high speed rail. What are your thoughts on this issue?
A: Mayor-Elect Daley: First of all I don’t think the high speed rail is an affordability issue as much as it is a priority issue–should we be spending our money on this as a community? Every dollar we spend supporting one project is a dollar that we are taking away from supporting another one, unless we are interested in doing things like raising taxes, which I am opposed to. When we look at the high speed rail, The Kleefisch bill is a very legitimate bill. I don’t think his intention is to straight up kill it (high speed rail). What Kleefisch is saying in his legislation is that we have a lot of questions that we would like answered before we can support this as a state. I think he is right in that. What I said in the campaign is that this is an issue of ridership, and my understanding is that there is not a dependable study that has been done to date that is going to show what the ridership is going to be plus I think there are a lot of issues that could potentially decrease the ridership. The number one issue is where the Madison terminal is located. My understanding is that right now it is slated for the Dane county airport and I think out of the people that I have spoken to there is absolutely zero interest in traveling to the Dane County Airport. Now if that was a downtown Madison or accessible downtown stop I think that would increase the likelihood of people in our community willing to jump on the train, go to Madison for, say a Badger game or walk down State Street. When we are looking at the Dane county airport stop that strands the rider from the rest of the Madison community and the rider has to either grab a cab or a bus– it is just those additional layers of inconvenience that will affect ridership in an extremely negative manner.
Mayor Elect Daley will be sworn into office at the April 20th Common Council meeting at 7:30pm located in the City Hall.
April 06, 2010 at 08:40 PM · Posted under Glenn Hanon
If you love horses, like horses or have thought about having an interest in horses, then you may want to head to Madison for the Midwest Horse Fair April 16-18th at the Alliant Energy Center.
For all of the latest information on clinics, events and speakers this website has all the latest information.
Barnes PRCA (Professional Rodeo Cowboys Association) will present the rodeo portion of the entertainment. If you are interested in seeing barrel racing, bareback riding, bull riding, roping and various other rodeo events, then this is worth the trip to Madison! The gates open each day at 7am. The rodeo event tickets are only available through TicketMaster, and you can order by phone at 800-745-3000 or you can purchase tickets in person at the Ticket Office. The premium tickets are all sold out, however the general admission tickets are $5. The rodeo will be held on the 16th so now would be a good time to get those tickets!
April 03, 2010 at 01:21 PM · Posted under Glenn Hanon
New rules on lead based paint removal take effect this coming April. If you are a homeowner and your home was built prior to 1978 then remodeling your home replacing windows, scraping old windows etc will need the services of an expert. The Federal Government has enacted tougher more stringent lead based paint rules that now affect us all. The regulation will affect millions of single family homes across the United States. The EPA banned lead in paint in 1978 and it is estimated that more than 38 million homes have some type of lead paint on or in their home. In the past you could strip the paint yourself, but now with the new guidelines you will need to have a professional EPA accredited firms to remove lead paint. The new rule takes effect on April 22 of this year. When you sell your home you are required to fill out a Real Estate Condition Report (RECR). Currently the RECR does not have any questions on it that ask if you removed the lead paint from your home. It asks if you are aware of any lead paint on your property. All Real Estate transactions require that a Lead Paint Addendum be attached if the home was constructed prior to 1978. I would imagine that the RECR will be changed shortly to ask the seller of an older home if they have done any lead removal on the property. As with all new rules there were be lots of confusion. For more information on Lead Based Paint and the potential problems you can visit the EPA site for lead at http://www.epa.gov/lead/
April 02, 2010 at 06:51 PM · Posted under Glenn Hanon
We have these good friends who have a knack for knowing all the quaint and sometimes quirky places to eat in the Metro Milwaukee area. April 1st proved to be a delightful day, weather wise, so we tripped over to The Rochester Deli in Waukesha off Broadway. I am always on the hunt for a good Reuben and I was not disappointed here. Because it was literally 80 degrees at 6pm, so we decided to sit outside and enjoy the delish food! I finished the Reuben which was accompanied by a great side dish of fresh coleslaw, I meandered back inside to check out the cakes, cookies and various other sweets. I had my eye on this almond cookie that was dipped in chocolate. I love almond and if you do too then this is the best almond cookie I have tasted in a long time. The Rochester Deli advertises itself as the Home of the Best Reuben and I would have to concur. This little gem is right here in our backyard and is my new fav place for Reuben’s!
March 30, 2010 at 06:31 PM · Posted under Glenn Hanon
Just the other day I was talking with a friend and he asked, “If there are so many mortgages in real trouble why aren’t the banks working faster to fix the problem?” His question is one that I think many are asking. On the surface the simple fix seems obvious. But as you peel the layers back one can see why this just isn’t working. According to the Wall Street Journal only 170,000 borrowers have found relief with the government’s new HAMP program or Home Affordable Modification Program. This new program is supposed to assist borrowers who find themselves underwater. Some of the problem rests with the banks moving too slowly. To qualify for this program the homeowners must be current on their loan, occupy the home as a primary residence, document their income and assets fully, and their credit score must be above 500. Most of the requirements are okay, but let’s look at the first one. The homeowner must be current on their mortgage. This is precisely the problem. So the program is stating that if you are making your payments you qualify, but if you are having trouble making your payments there is no help with this program. Out here in the real world we are seeing just the opposite. The folks that have missed some payments are in the category that need the most help. Part of the slowness is that the government continues to modify the rules. Case in point as reported in the WSJ on Saturday March 27, 2010 (click the thumbnail for a larger view). Now the government is trying to figure out how they can assist the second lien holders since they are usually left holding the bag on a short sale. The steady stream of revising rules, new programs and proposed bailouts only fuels the fire of bureaucracy. If banks think that there may be a bailout or government assistance down the road do you really think they will move quickly now to resolve the growing problem. I am not putting the blame on the banks, but the government needs to realize that the mixed messages are slowing down the recovery in housing. So what is the answer? I don’t think it is easy or palatable, but the market needs to fix itself with less intervention. Housing can heal itself, but the continued intervention has the possibility of making things worse.
March 29, 2010 at 06:41 PM · Posted under Glenn Hanon
For those of you sitting on the sidelines wondering if now is the time to buy that first house or trade up I would suggest that NOW is the time to get moving. (Sorry for the pun) The Fed has targeted this Wednesday as the deadline for their overwhelming involvement in purchasing mortgages. Currently the Fed is buying over 99% of every mortgage written, compared to a normal level of about 60%. The Fed desperately wants the private sector to reemerge as the principal purchaser of these mortgages. But at a 5% return it seems unlikely that the private investor will be lining up to buy these instruments. Perhaps at a return of 6%-7% they might find mortgages appealing. Well if you are a buyer and are waiting for the “bottom” of the market stop trying to time the market and get in. Here is why; let’s say you are looking at a $250,000 home. You think it is a good deal now but feel as though the price could drop another 5%-8%. Your friends even suggest that you might shave another 10% off the price. For the sake of the argument let us assume that your friends are correct. The payment for the $250,000 home with 5% down is $1,247.00 per month for principal & interest. Now if the house lost an additional 10% the value is $225,000.00 and if rates go up to just 6.5% the payment with the same 5% down is now $1,351! So while some are waiting for the so called bottom of the market they lose all that benefit from the bottom by the higher interest rates. I always encourage my clients to look at the entire picture. If you are buying strictly for one reason, that is your choice but it make not make the best fiscal sense.
February 17, 2010 at 09:58 PM · Posted under Glenn Hanon
I love this article from the Wall Street Journal because it reports what we have known in the market for some time. With the supply of distressed homes rising in our area there is no shortage of a low priced home. Many of these distressed homes need lots of work inside to bring them back to a “market ready” condition. So if you are competing with these homes why not make your home look the best? And that is the focus of this article. A seller needs to price the home competitively, but how do you compete with homes where the price seems to be in a free fall? Staging, painting and positioning your home so that it is compelling in price and appearance is a must in today’s market. I often will tell my clients that when a buyer schedules an appointment to see your home they are not coming to buy your home.(I often get puzzled looks when I say this.) The buyer is coming to cross your home off their list! Most buyers today will be looking at 30-40 homes before they make their offer. They generally have a list in mind of what they want in a home. If they walk through your home and the carpet is stained, or you have old wall paper up and the avocado colored toilets and sinks are functional but you prefer not to replace them, guess what? The buyer is moving on. In some cases you will have to do more work but let’s be honest for a moment; you don’t want to do the work because it is a hassle, so why would the buyer want to do the work? Today more than ever a seller’s home needs to be compelling. If you need assistance with this and you want to sell your home, I can help. Just give me a call and we can make sure your home IS the home the buyers want!
February 05, 2010 at 04:07 PM · Posted under Glenn Hanon
My trusted smart phone kicked the bucket the other day and I was forced rather quickly to think about another phone. Not wanting to switch carriers, I did decide to jump into the Apple world. Both of my sons have Apple laptops and brag how the “old man” needs to get with it. So, I bought the iPhone 3GS and started looking at some of the apps that my guys were always talking about. Here is a cool one I found for Real Estate; Sherwin Williams—you know the paint store, they have this cool app. So let’s say you are thinking about re-painting the living room, but your favorite couch is not in need of re-covering. Well take a picture with your iPhone of the couch and the app will give you the primary color and two secondary colors that you could use to accent the room with. even gives you the Sherwin Williams paint numbers so you could go to the store and get a sample! How cool is that? If you have an iPhone, the app is FREE.
Shorewest also has this really cool app for finding homes with a geo locator feature. Let’s say you’re having your favorite cuppa at Starbucks in Oconomowoc and you want to know all the available homes for sale around your location. If you have loaded the FREE iPhone app for Shorewest it is a snap. A couple quick taps on the phone and voila you have the latest inventory at your fingertips, literally! Click here to view and download the free Shorewest Iphone app.
February 02, 2010 at 12:01 PM · Posted under Glenn Hanon
Well it might not be there in time for many home owners who find themselves “underwater” in their mortgage. As a heads up the new HAMP program or Home Affordability Modification Program, that Washington put in place, has a few changes that were recently implemented. The goal is to streamline the process. Click Here for more information on the HAMP changes.
In other news, a report recently released indicates that FHA is in good shape. Some people critical of the FHA were concerned that they are taking a bigger risk in the mortgage business with their dramatic increase in market share. This story makes the point that their share has risen from a 3% market share to a 30% market share almost overnight. A personal note: FHA has played a role in the real estate recovery; however the low down payments are very concerning. Yes FHA requires a higher credit score, however even with good credit if one of the two persons who are buying the housing loses a job (a possibility in this economy) or their income is adjusted slightly, does FHA think those borrowers wont default? These are difficult times for everyone. The sooner we move towards responsible lending and borrowing the better our recovery will be. If the borrowers continue to live on the edge we could face another round of difficulties.
February 01, 2010 at 04:46 PM · Posted under Glenn Hanon
This quick video gives some reasons why walking away from your home may not be a good idea. The financial impact of a foreclosure decision can negatively impact your credit for the next 5-7 years. Short sales are longer and can be more difficult routes, however the negative impact can be as little as 2 years on your credit. Take a look at the video and decide for yourself. If you find yourself in this situation feel free to call me and we can discuss your options.
January 20, 2010 at 08:42 PM · Posted under Glenn Hanon
The Real Estate market is changing fast. Recently the NAR (National Association of Realtors) developed a program that educates agents to become advocates for sellers who find themselves in very difficult waters with their current mortgage, i.e. short sales and foreclosures. A short sale is when a homeowner sells their property for less than the current mortgage balance. The “shortage” is often but not always absorbed by the bank. Because of the growing problem with foreclosures, this option is providing a way out for distressed homeowners and banks who find themselves with a growing inventory of bad mortgages.
The NAR developed the “Short Sales and Foreclosure Resource Certification” (SFR), which I was happy to learn more about. Recently I passed the exam and received the SFR certification. I also completed the REO Trans Network training and exams and am now certified to assist with REO inventory (Real Estate Owned) that the banks have assumed. As a leader at Shorewest I believe that continuing education is paramount in addition to assisting clients in this very difficult economy.
If you have further questions about the market give me a call at the office, toll free 1-888-HEY GLEN
January 15, 2010 at 08:27 PM · Posted under Glenn Hanon
Wisconsin has generally fared better than the rest of the country due to our more conservative roots when it comes to wild spending and reckless mortgages. However according to a recent report by Realty Trac, Wisconsin has had a bumpier road than what we would expect. Nevada, Arizona & Florida are the top three states with the biggest issue in the foreclosure arena. Our neighbor to the south, Illinois comes in at #9 on the list of states with severe problems and the cheesehead state ranks #19! I was surprised by this factoid. According to the report over 35,000 properties received filings for foreclosure in 2009. That is up 78% over 2008 and 190% over 2007. For the savvy buyer today who buys real estate, the stories around the water cooler in five years will be, “I wish I would have bought in 2010, what was I thinking?” Interest rates are still very low and the inventory is perfect!
Straight from the News Hub desk is this quick video on the housing market. Now is the time to consider buying your home IF you can afford it. Real Estate has always been a very good long term investment. If you are contemplating buying a home now is the perfect time, interest rates are low and the supply is vast. Check the video out for yourself and decide if it is best for you.
December 30, 2009 at 02:44 PM · Posted under Glenn Hanon
Robert Shiller, of the Case Shiller Index is interviewed in this video by the WSJ. The outlook is not that great, but there is good news. First our area has not been affected as severely as other parts of the country. We see that the first quarter of 2010 and perhaps into the second quarter the activity will be stronger than 2009. The threat of rising interest rates should be of concern to sellers and buyers. So while the saying sounds overused, NOW is the time to sell for two main reasons. First as a seller you can take advantage of the opportunity while the homebuyer tax credit is still available. Buyers must be under contract by April 30, 2010. The second reason is that most economists believe that interest rates will have to rise in 2010. If rates go up from 5% to 6% this decreases the buyer’s top price by 10% if the buyer is payment sensitive—which almost all are today. If you would like more information about our local real estate economy or the value of your home feel free to call me.
December 14, 2009 at 03:07 PM · Posted under Glenn Hanon
From our family to yours we hope you had a great 2009 and hope that 2010 is a great year for you. (Pictured left to right, Robert my youngest son, me, my wife Lori and our oldest son Paul. Robert is holding our dog, but she decided not to cooperate with the camera.)
While the news is full of stories about the real estate market, often times the real stories of people are sometimes missed. Companies are still relocating employees and they have an immediate need to sell quickly and move on to their new destination. This year I helped more relocating families than I have in past years and was thrilled to help make these difficult moves a little easier. Shorewest implemented a new policy when it comes to relocation too. Now only a handful of selected agents are considered to be Relocation Consultants. Earlier this year we were required to complete in-house training and sit for an exam. The new standards insure that the family who puts their trust in the Shorewest family of agents will get the best possible service—that is what the “Certified Shorewest Relocation Specialist” designation is all about. In the coming year if you need assistance with your move, whether you are relocating across the country or across town, I would be delighted to provide the very best in service to you and your family.
December 10, 2009 at 04:36 PM · Posted under Glenn Hanon
This incredible home is situated on a almost 1 acre city lot that is adjacent to a beautiful park. There are 4 large bedrooms on the second floor with an optional 5th bedroom in the finished lower level, handsome family room with bookcases that flank the bricked fireplace. A large kitchen with sunny southern-facing dinette also features an island and plenty of counter space. A 3.5 car garage is ideal for extra storage. Priced at $274,500 1391 Forest View Lane is the perfect home for a buyer looking for extreme value.
December 04, 2009 at 02:09 PM · Posted under Glenn Hanon
The new firehouse for the Oconomowoc Fire Department will be ready for operation in May of 2010 according to Chief Beguhn of the Oconomowoc Police Department. When completed the 14,000 sq. ft. facility will house the combined fire departments of Oconomowoc and the Town of Summit. Oconomowoc’s other fire department is located on the corner of Second Street and South Concord Road. The Summit Fire Department has operated out of the Town Hall and will now move to the new facility. One large tower and a smaller tower will be available for training purposes on-site. The larger facility will have two drive-through bays and will have enough room for 8 vehicles. As you can see from the artist rendering of the building the architecture features a gabled roof and natural stone materials. Due to the proximity of near-by subdivisions the firehouse reflects some of the residential feel. You will notice the new structure to the east of Hwy 67 and the Kwik Trip. The firehouse is on the eastern leg of the Oconomowoc Parkway.
With the threat of 1-2” of snow today, I thought a little escapism was necessary. Just beyond the hibiscus tree on the left is the built in hot tub. I don’t know if you can see it or not, but what a great idea with the pool. The setting here is very private as you can see from the picture (click on the photo for full sized image). The large slated deck features plenty of room for lounging entertaining etc. But what makes this pool worth so much money? Certainly it is not the hibiscus trees! No, the owner of this pool is graciously throwing in a sprawling shingle-styled home with cherry floors throughout, 5 natural fireplaces, a cherry paneled playroom for the children, workout room, a huge veranda that will easy entertain your largest of parties, and more, all with spectacular views of the azure of Lac La Belle. While not right on the water this manor home is the crème de le crème when it comes to settings and style. Sit and relax in your private library with full masonry fireplace or retire to you master suite with full masonry fireplace. No inserts here—nothing but the best. The lady of the house has her private office on the main floor while his office is perched on the second floor with spectacular views of the lake. The guest room with private bath and fireplace will give your guests a comfortable nights rest. Click here to take a virtual tour of this property. If you would like more information regarding this one-of-a-kind retreat, feel free to call me toll free at 1-888-HEY GLEN.
December 02, 2009 at 09:50 PM · Posted under Glenn Hanon
There is a buzz in the air with the two new hospitals in Oconomowoc. The soon-to-open Aurora Hospital (pictured above), located just south of I-94 on Hwy 67, (click here to view a map) and Pro Health’s state of the art facility on Summit Avenue (pictured on right), near the heart of Oconomowoc are both imposing sites. Beyond all the press releases the best way to find out when the hospital opens is the people that work there. I found this blog from nurses that discuss the opening and it looks like March 1, 2010 is the date to watch for Aurora. Pro Health, Oconomowoc’s first hospital is also looking for talented health care professionals and is holding a grand opening on Dec. 12th. There has been much talk about hospital wars with the two competing facilities, but I like to look at it this way. Oconomowoc is in the midst of two distinct entities that are eager to provide the best health care possible. Both hospitals are looking for good qualified people too. This is all good for the surrounding business and the housing economy in Oconomowoc. From the downtown merchants to the shops at Pabst Farms more interest in our great city is very positive.
December 01, 2009 at 08:55 PM · Posted under Glenn Hanon
Maury Sullivan (pictured on left), Oconomowoc mayor announced that he is seeking re-election this coming April. The primary will be held this February 17th 2010. The mayor hopes to finish several initiatives that have started on his watch. The revitalization of the waterfront near city hall is just one of the projects that can change downtown Oconomowoc for the better. Currently discussions are still underway as to where the new train station will be located in the city for high speed rail. Additionally, Mayor Sullivan would like to see improvements with our city roads—and I couldn’t agree with him more on that. Much has been done lately especially with the reworking of the downtown area. Next year we should see the road project finished from the four corners west to the county line. In 1999 the Town of Summit and the City of Oconomowoc finalized their Border Agreement and as of December 31, 2009 several parcels that were in the Town of Summit will now be a part of the city. Several residences are involved in the assimilation to the city and when calculating taxes for the sake of a real estate transaction, it would be best to have those proration amounts agreed to in writing. Oconomowoc is ready for smart growth and with some of these projects we look forward to a bright future.
November 30, 2009 at 10:28 PM · Posted under Glenn Hanon
Why do we stage homes? I am often asked this by future clients. The main reason is that when you or I are considering a home purchase we want to “feel” what it is like to live in the new home. But so often homeowners’ personal effects can get in the way of seeing the home for what it is. There are those occasional homes when we walk in and it feels like home. That is what staging does! It takes what may not feel like home and nourishes the soul so as you walk into that well staged kitchen it says “Welcome”. The pictures tell the story. This brand new kitchen is waiting for someone to fall in love, and yet the red walls just don’t let the buyer see the beauty of the rich wood hues in these custom cabinets. The right color makes the cabinets and the rich granite counters stand out! I used the services of Laurie Flatt from Casa Labella
for help with this home. Once we staged the home it sold—even in this tough market. Check out their website and remember that if you are thinking of selling, working with pros makes a difference. After months on the market the seller couldn’t believe how much staging made the difference between sitting and selling. Call me today for a personalized marketing plan for your home. I can be reached at 1-888-HEY GLEN.
November 30, 2009 at 04:35 PM · Posted under Glenn Hanon
The theme this year for the annual Christmas Parade in Oconomowoc is the Wizard of Oz. The parade is scheduled for this upcoming Saturday, December 5th at 3PM. Each year local residents participate in this fun parade. A few years ago we had so much snow some thought the parade would be cancelled. But like the post office, neither rain nor sleet…well something like that, the parade went on through the deep blowing snow. Santa always makes an appearance and one of the churches usually does a live nativity scene.
The parade route generally originates from Fowler Park and makes its way through the downtown area. It is best to plan on staking out your piece of sidewalk early since the weather looks to be nice, 30’s for Sunday and partly sunny. Most of the prime spots along Wisconsin Avenue go quickly. This is another great family event in Oconomowoc.
November 30, 2009 at 04:15 PM · Posted under Glenn Hanon
Congress did extend the first time homebuyer credit but time is running out. Yes you have until April to secure the right home, but beyond finding the right home, don’t let the low interest rates rise before you have time to act. Here is why a small increase in rates can affect your ability to buy that ‘right’ house. Let’s assume that you have your sights on a home for $200,000. You have 5% down or $10,000 saved up. You have calculated that your mortgage payment is $994.57 for a 4.78% interest rate. If the rates rise slightly to 5.5% your payment has just moved to $1,078.80. If your intention is to keep your payment at $994.57 per month your new purchase price is $185,000! The small increase has just cost you $15,000 in purchasing power which could mean the difference between getting the right house, or not buying at all. So before rates go up, and they will, NOW is the time to be out there finding your next dream home. For more information on how to maximize your purchase in a new market call me toll free at 1-888-HEY GLEN
November 09, 2009 at 04:14 PM · Posted under Glenn Hanon
If you are thinking of selling your home some may suggest that you should save the commission and sell the home yourself. This route requires time to; manage the paperwork, take care of all the showings, pre-qualify the buyers managing the inspections and much more. With the upcoming changes in the offer to purchase—now 9 pages in length vs. the current 5 pages, you may want to consider talking with a professional who will walk you through these complex and at times difficult situations. With the changes in the appraisal rules this alone can cause any Realtor® headaches not to mention a homeowner who is going at this for the first time. If you would like to see what a professional offers prior to committing to an agent, feel free to contact me and ask for my Marketing Plan in writing. I explain in detail everything that will take place if you choose to use the services of a professional. Today, the home is still the single largest investment most people have and after 20 years of successfully assisting families I can honestly say that I have saved the would be For Sale By Owner, money, time and headaches. Get all the facts before you decide to sell on your own.
The current real estate market has created all sorts of opportunities for buyers and one of them is the short sale purchase. Simply stated a short sale is property in which the sales price will be “short” of the actual mortgage balance and the seller’s lender will have to approve the sale. Potential buyers can look at this opportunity as a gold mine. Before you count your money consider these tips.
Lenders want to minimize the loss so a low ball offer may not even make it to the right department. Just because the property is in a short sale does not mean that the lender will rollover and take your offer.
You better have all your ducks in a row, financing, earnest money, finish your home inspection—basically remove any concern on the lender that you will back out. That’s right. If your offer is full of wiggle room chances are the lender will not agree to the short sale.
Give the lender plenty of time. If you demand in your offer to have an answer in an unrealistic amount of time they will not respond.
Here is something to think about with short sales if you are truly interested in purchasing a home. In most cases the price that the home is currently listed at is already a good deal. You may save a few extra bucks, but let’s not get greedy. That is what got us into this mess in the first place. Watch this blog for more tips on Short Sales or give me a call for a FREE GUIDE on the short sale process.
July 17, 2009 at 09:48 PM · Posted under Glenn Hanon
We just had a great Brokers Open Here the other day and I always enjoy hearing what the other agents have to say about a property. As you can see from the pictures this home is fabulous. The 9,000 plus square feet of living space is definitely worth seeing. While the style lends itself to a more formal feel, overall that is not what the agents said. Agents are in hundreds of homes all the time and we have seen everything from the gaudy to the classic. With a house this big you might think they would comment on how large the house was, but they didn’t. Actually most of the 50 or so agents that toured this magnificent home said that it felt like home! That is quite a statement in itself. What they were really saying, if I can interpret the comment, was this; the house, while large did not make one feel lost, rather they enjoyed the unique well planned spaces. Each room was not overwhelming rather it was inviting. These are huge compliments to the already inviting home. If you are interested in a truly classic home with eye towards family comfort and formality see this link or call me for a private showing, 1-888-HEY GLEN. This property is located in the Grandhaven subdivision in the town of Delafield and is currently listed for $1,595,000. Click here to view full details on this property.
June 10, 2009 at 09:20 PM · Posted under Glenn Hanon
Village Crossing at Pabst Farms, a luxury development that I am proud to market is ready for sale. The new model should be finished shortly and in the meantime the landscapers are working overtime installing underground irrigation systems, trees, shrubs and sod lawns. The charming round-a-bout entrance to the development is a nice feature. Of the 10 units that are under construction 7 are already sold. Recently I took a handful of select agents who will be part of TEAM PABST to see these glamour homes and they were noticeably impressed. The 10’ ceilings and custom finishes (which are standard) offer the prospective condo owner some unique features. We have all heard about the difficulty obtaining condo financing in our market. But Pabst took care of those details as well. Financing is provided with no hidden charges or costs! So buying a condo at Village Crossing is easy as 1-2-3. If you would like more information regarding this luxury development just drop me an email at ghanon@shorewest.com or call me at the office, 1-888-HEY GLEN!
June 04, 2009 at 08:58 PM · Posted under Glenn Hanon
If I give too many clues you may know where this sign is located. I am curious if you have seen this too. We have school crossings and of course those are closely monitored. The State of Wisconsin has rules for pedestrian crossings in downtown areas, but the best crossing sign I have seen is this one—Turtle Crossing. I would surmise that the turtle needs this sign to warn us. Can you imagine crossing a busy road when you have the speed of a…uh hem…a turtle? Just the other day I saw a brave little painted turtle trying to cross a very busy road. Those shells will hold up to most everything except cars. Well if you have a theory as to where this sign is located just let me know I would be interested in your guesses.
April 29, 2009 at 03:00 PM · Posted under Glenn Hanon
The Waukesha Symphony has announced their new schedule and one of the venues will be our very own Oconomowoc Arts Center. If you have not been to the OAC you must see this fabulous setting.
The handsome wood paneled stage, full orchestra pit, rigging and so much more make this an outstanding addition to Oconomowoc. The OAC is adjacent to the High School and is just minutes from I-94 off of Summit Avenue. Pro Health’s new hospital addition is the immediate neighbor to the OAC. The new season at the OAC will be a hit, I am sure. I can’t wait for the new schedule.
April 22, 2009 at 03:39 PM · Posted under Glenn Hanon
You have decided to sell the home and wonder to yourself, “What do I have to do to make sure my home sells quickly?” Here are five quick tips to make sure your home does not become ‘stagnant’ in the market.
Clean and organize your home. Remove all the clutter. If you need assistance with what is ‘clutter’ I can assist you with this. A clean home, even if it is dated, is more attractive than an updated home that is messy.
Air fresheners, scented candles and plug-in’s are not to be used when showing a home. Many buyers are either allergic to these products or find them offensive. Almost all buyers think you are hiding a noxious odor. The reaction I have seen over the past 22 years of selling does not warrant their use. If you have a pet odor that you are trying to eliminate plug-ins are not the answer.
Make sure all maintenance issues are resolved before you actively market your home. Buyers will determine how well you take care of your home by how well you take care of the little things. Issues like loose caulking around a tub, dirty furnace filters, broken doorbells, scratched front doors, windows that need cleaning,–you get the idea, are turnoffs for a buyer.
Make sure your curb appeal is appealing. Poorly maintained lawns, heaving sidewalks, overgrown bushes don’t give the prospective new homeowner a real warm fuzzy feeling as they make their way to the front door.
Price your home according to the market. This is probably the number one reason why homes do not sell today. The sellers expectation of “what they want” or “need” compared to the market value are often times significantly different. My job as a professional is to give you the market data and guidance as to what price your home is realistically worth in today’s economy.
If you have further questions or would like a personal evaluation of your home feel free to call me at 1-888-HEY GLEN or email me at ghanon@shorewest.com
April 20, 2009 at 08:34 PM · Posted under Glenn Hanon
If we are to believe the news media, no one is able to get money and thus buy a home. But if that’s true no one told us about the shortage of money. I have not found that money is difficult to obtain, however the restrictions are a little more realistic than they used to be. For example Freddie Mac (the government) now charges a 3/4pt “Delivery Fee” on loans. Outrageous you say? Well if you have more than 25% down towards the purchase price the fee can be waived, IF your credit score is reasonable. Now I can remember a time, way back, when you had to have a 20% down payment otherwise you just did not get the loan. What we really are experiencing here in our market is a contraction from some very liberal lending policies to a more normal lending pattern. For complete information on the thresholds in lending you can visit Freddie Mac. If you are not a research person and want someone to walk you through the process call Brian Faust at Wisconsin Mortgage at 414-587-2437 or brian@wimort.com .
April 17, 2009 at 07:37 PM · Posted under Glenn Hanon
With the advent of social networking, Twitter, Facebook, YouTube and other sites, advertising Real Estate is quickly changing. I remember, back in the day, when REALTORS® put their picture with the house that they were listing—that was innovative then. But now we can provide so much more information to the public much quicker. And the public demands fast information, that is why I carry my office with me at all times—My Blackberry. Day or night I can be reached 24/7. I remember my grandfather telling me that as a REALTOR® “You spend a lot to make the phone ring, so you had better be there when it does” Sage advice I will say. As you can see from the link above, this is just one way that I advertise homes. This spectacular home in Pabst Farms in Oconomowoc has one of the nicer lots in the development. Situated on a quiet cul-de-sac, this charming 4 bedroom offers many upgrades and quality features like Pella® Architect Series windows throughout. If you have additional questions about the homes that are currently available in Eastlake Village don’t hesitate to call me. For a map of all the hotspots around Pabst, just click on the link. Keep watching this site for more updates about, Village Crossing Condos, Brennan’s and other happenings in and around Oconomowoc.
April 16, 2009 at 09:00 AM · Posted under Glenn Hanon
In Wednesday’s edition of the Wall Street Journal the paper pointed to an ominous sign on the horizon with respect to foreclosures across the United States. You can read the full article here. According to Kerry Grace the articles author, many of the larger banks voluntarily suspended some of their foreclosure processes while they awaited the bailout money. The resumption of the foreclosure process could add an extra burden to the already soft real estate market. If you find yourself in an otherwise difficult situation and foreclosure may be your final option, wait. There are some other alternatives that we can discuss before you throw in the towel that will not only protect your credit score but can make it less difficult to buy another home. If you would like an honest evaluation of your home and the net that you will receive from a sale, call Glenn Hanon at 262-567-4349 or email me at ghanon@shorewest.com. I may not be able to keep you from the foreclosure process, but we can evaluate your situation and give you the best road to travel on.
April 14, 2009 at 10:14 PM · Posted under Glenn Hanon
This year Oconomowoc is set to be the epicenter of community involvement with the building of the Imagination Station located at Roosevelt Park just south of downtown Oconomowoc. This extraordinary project will offer a state of the art playground facility for all children regardless of physical ability. What a great opportunity in Oconomowoc for not only our city but for the communities surrounding Oconomowoc that can use this child friendly park. If you would like to donate your time or money, both are in need, feel free to check out their website. If you are business owner or a family there is a terrific way to donate via the Fence Pickets. I bought one and I would encourage you if you live in the Oconomowoc area to buy one as well or more. Let’s all work together to make this the best park ever
April 09, 2009 at 07:17 PM · Posted under Glenn Hanon
One of the jewels of Lake Country is Lac La Belle. The sprawling 1164 acres of Lac La Belle stretch into three different communities, The City of Oconomowoc, The Town of Oconomowoc and The Village of Lac La Belle. At the deepest point the lake is only 46 feet, which offers some of the warmest lake water in the Lake Country region. The sandy bottom and low vegetation growth offers a swimmers a very clear lake. The shallow lake attracts many different kinds of fish as well from largemouth bass, bluegill, crappie and walleye. If you would like a complete synopsis of the lake from a fishing standpoint just email me at; ghanon@shorewest.com or Click Here for a Map. If you Click Here, you can view the lake characteristics for fishing. Besides fishing many lake residents enjoy, sailing, water skiing, pontoon boating, swimming and enjoying the spectacular sunsets.
Currently we have 17 properties for sale on the lake from $330,000 to almost $2,000,000. This stunning home that is pictured is just off the lake and has fabulous panoramic views of a good deal of the lake. The stunning attention to detail for this shingle styled home is apparent in each room. The entire house has cherry floors. Priced at $1,499,900, this is a great opportunity to own a large estate just off Lac La Belle. For more details on this home at 160 Monastery, call me at 1-888-HEY GLEN or drop me an email (ghanon@shorewest.com). Lac La Belle is truly one of the hidden secrets in Lake Country!
April 08, 2009 at 05:26 PM · Posted under Glenn Hanon
Okay, okay, that’s what headlines are supposed to do—get your attention. But here is the real deal with buyers today—cash in hand, no home to sell, ready to buy today. When that perfect buyer walks through your home, they are not coming to buy your home. Yes it is true. Why you might ask? Here is the Aha moment. The buyer is most likely looking at 30-35 homes, one of which is yours. They cannot buy 35 homes so what they are doing is ranking each home that they see compared to the list of items, location, amenities, whatever their list is, and they are crossing off homes on the list that don’t measure up. If your home does not have enough of the items that they are looking for then they will most certainly strike it from the list. But wait there’s more….My job as a listing agent is to assist you with what “hurdles” we can remove for that perfect buyer (or not so perfect buyer) If we can remove enough “hurdles” or objections to your home, then we have a better chance of attracting the buyer. Here is a classic example that I have heard over the 22 years of selling Real Estate. The sellers carpeting is worn or outdated and instead of replacing the carpet the seller says something like, “I can just give the buyer a credit and they can pick the color that they would like” Well that might sound reasonable, but when I suggest a color for the carpeting I wasn’t thinking of something that only 5% of the market might want. I would select a carpet that 90-95% of the market wants. Besides if it is a hassle for the seller it is a bigger hassle for the buyer. Remember we have to be removing obstacles to the sale not adding them! If you would like a complete analysis of your home just shoot me an email at ghanon@shorewest.com or give me a shout at the office, 262-567-4349 and we can begin removing the “hurdles” in your home.
April 06, 2009 at 09:29 PM · Posted under Glenn Hanon
Lately Pabst Farms in Oconomowoc has received some less than flattering press related to the proposed mall development. But let’s take a look at the positive side of Pabst Farms. The subdivision is located just minutes from everything. Brennan’s is opening their new store this fall and it will be a hit with the greater Lake Country area. If you have not been to Brennan’s in Brookfield or Madison it is worth the drive for great fresh produce and Jacobson’s meat market: http://www.brennansmarket.com/blog/
Just across the street is our thriving Pick N Save with tons of specialty items and a great fresh produce section. Starbucks, Nick N Willy’s and others are right in the complex too. More and more restaurants are popping up in the vicinity of Pabst as well. Of course we have the fabulous YMCA that more resembles an upscale fitness club than your run of the mill Y. www.ymcaatpabstfarms.org . We have state of the art health facilities—Aurora and Pro Health Hospitals and multiple clinics. Are you in the mood for fresh homemade Gelato? Just a short drive from Pabst and you are at Golosi’s in downtown Oconomowoc were the owner makes fresh Gelato each and every day. You can even visit their Facebook site at http://tinyurl.com/ctkase. It is all here in Oconomowoc, the “Newport of the West.”
April 03, 2009 at 04:50 PM · Posted under Glenn Hanon
Lake Country has a new and exciting Arts Center and if you have not been here for a show you are really missing something special. My wife and I attended the performance of “Guys and Dolls” this past month and the entertainment was outstanding. Tomorrow night, the OAC (Oconomowoc Arts Center) will be showcasing “Leahy’s Luck,” an Irish troupe with great Celtic music and Irish dancing. I know that there are tickets still available so you won’t be disappointed by the show or the venue. It is really unbelievable that we have talked for so many years about having a real theater in Oconomowoc- but now it is here. I was awestruck with the beauty inside. The handsome wood paneling, the stage with a full orchestra pit and 750 very comfortable chairs, this is important for some shows that are longer. But what makes the OAC so special is that it is here right in the heart of Lake Country and available for all of us to use. Don’t wait- go and see the jewel in Oconomowoc! Here is a link to their website: http://tinyurl.com/c95xep
Glenn Hanon
The bank in this case decided to pursue criminal proceedings against the past homeowner—Grand Larceny, a fine punishable up to 10 years in prison and a $25,000 monetary fine. Buyers of these stolen goods can be tracked down as well. If you thought the deal on the gas cooktop was too good to be true, it may have been. Buyer beware is often the rule of thumb for these types of sales. As a buyer, if you think the property is stolen, you could be in violation of Wisconsin Stats 943.34, which is a felony depending of the value of the stolen items. If you know someone who is going through a tough time please encourage them not to take this course of action. It is in their family’s best interest to think before they sell. Families face real devastation with the loss of a home, but prison time should not be part of the equation. Let’s all help those we care about most to do the right thing.
The end of the year is always a great time to look back at past achievements and milestones. Here are a few that I thought are significant.
h outright hostility.
The chart to the right shows the average sales price of homes from 2000 to 2011 based on MLS statistics in the greater Lake Country area. If you purchased your home in 2000 for $262, 515 and your home is now worth $344,418 and you put 20% down on your home your new equity for your home is $82,000 or a 56% return on your initial investment (ROI). Yes, your home is worth much less than the peak in 2006 but your ROI is an astounding 56%! How did the S&P do for the same period? According to MSNMoney.com, the S&P is down 19% from January 2000 to October 1, 2011. So why do we have all the distress? Many used their home as a piggy bank during the run-up in prices and re-leveraged their home to the 2004 or 2005 prices. Their home was a good investment but the misuse of the investment has left some upside down which in the end has adversely affected current pricing. The level of incoming foreclosure action comes down to an important point: The oversupply of inventory will remain for some time. If you are selling now it would be wise to price your home compellingly.
Grumbling, venting, complaining and overall frustration. Those are just a few of the emotions felt when it comes to property taxes especially in a market when you may never sell your home for the assessed value. So what can you do? I have included a copy of the 
haggling over the price for a home. The fear is that they will have left “money on the table” which prevents them from entering the process.
They will understand what the price point offers for “Shoulds” in a home. A “Should” is granite counters for some homes, finished basements for some, in-home theaters for others. You get the idea. The buyer will also have a list of features that they prefer in their home. This list of preferences comes from their personal experience in their last home. For example, if the buyer is from the south they maybe accustomed to all brick homes, soaring ceilings and painted woodwork. Here is a timely piece of advice I give to all potential sellers; A buyer with cash in hand, no home to sell is NOT coming to buy your home—they are coming to cross it off the list! IF your home has enough of the items that most buyers want then you will probably make it to the next step, BUT if you do not have enough of those items, then your home will be removed from the list. This is where pricing comes into the picture. Homes with fewer of the features generally cannot command a market level price. The price must reflect not only square footage, but the amenities of the house. I am not saying this, the buyers are. If you have a lovely home that is 5,000 sq ft finished basement and the home was built in 1995 and you have not made any updates to your home since then and you are competing with a 2008 home that is essentially the same size, take a guess at which house the buyer might go for?
It is always great to see builders busy these days with the ‘new’ real estate market. In the 
On Tuesday April 20 th I sat down with then Mayor, Maury Sullivan and asked him to reflect on his past six years as the Mayor of Oconomowoc. The Mayor reflected on a number of his accomplishments, most notably he feels he is leaving the office with a city that is in good shape from a fiscal perspective and from a staffing function. According to the Mayor, when he first took office the city was spending $100,000-$135,000 on street repairs. This past year the city allocated over $3M for street repairs.
Q: Were you surprised by the turnout this past Tuesday? 
it’s not the “left-overs” of compromise. I don’t question that the Fowler Lake waterfront needs to be addressed. My concern for a project this big is that it has to be done right and I don’t think this can be a fast track item. This is the kind of project when we are talking about pristine lake frontage we should really be looking at this long term in a forward planning manner. I don’t want to address Fowler Lake for what is good for tomorrow, rather what’s good for the next generations. It is an immensely expensive project which I think its time has come but it needs to be done right. I think there are some issues with the current proposal that need to be refined before we move forward
If you love horses, like horses or have thought about having an interest in horses, then you may want to head to Madison for the Midwest Horse Fair April 16-18th at the Alliant Energy Center.
We have these good friends who have a knack for knowing all the quaint and sometimes quirky places to eat in the Metro Milwaukee area. April 1st proved to be a delightful day, weather wise, so we tripped over to 
relief with the government’s new HAMP program or Home Affordable Modification Program. This new program is supposed to assist borrowers who find themselves underwater. Some of the problem rests with the banks moving too slowly. To qualify for this program the homeowners must be current on their loan, occupy the home as a primary residence, document their income and assets fully, and their credit score must be above 500. Most of the requirements are okay, but let’s look at the first one. The homeowner must be current on their mortgage. This is precisely the problem. So the program is stating that if you are making your payments you qualify, but if you are having trouble making your payments there is no help with this program. Out here in the real world we are seeing just the opposite. The folks that have missed some payments are in the category that need the most help. Part of the slowness is 
have to do more work but let’s be honest for a moment; you don’t want to do the work because it is a hassle, so why would the buyer want to do the work? Today more than ever a seller’s home needs to be compelling. If you need assistance with this and you want to sell your home, I can help. Just give me a call and we can make sure your home IS the home the buyers want!
My trusted smart phone kicked the bucket the other day and I was forced rather quickly to think about another phone. Not wanting to switch carriers, I did decide to jump into the Apple world. Both of my sons have Apple laptops and brag how the “old man” needs to get with it. So, I bought the iPhone 3GS and started looking at some of the apps that my guys were always talking about. Here is a cool one I found for Real Estate; Sherwin Williams—you know the paint store, they have this cool app. So let’s say you are thinking about re-painting the living room, but your favorite couch is not in need of re-covering. Well take a picture with your iPhone of the couch and the app will give you the primary color and two secondary colors that you could use to accent the room with. even gives you the Sherwin Williams paint numbers so you could go to the store and get a sample! How cool is that? If you have an iPhone, the app is FREE. 
In other news, a 
I was happy to learn more about. Recently I passed the exam and received the SFR certification. I also completed the REO Trans Network training and exams and am now certified to assist with REO inventory (Real Estate Owned) that the banks have assumed. As a leader at Shorewest I believe that continuing education is paramount in addition to assisting clients in this very difficult economy. 
From our family to yours we hope you had a great 2009 and hope that 2010 is a great year for you. (Pictured left to right, Robert my youngest son, me, my wife Lori and our oldest son Paul. Robert is holding our dog, but she decided not to cooperate with the camera.)
The new firehouse for the Oconomowoc Fire Department will be ready for operation in May of 2010 according to Chief Beguhn of the Oconomowoc Police Department. When completed the 14,000 sq. ft. facility will house the combined fire departments of Oconomowoc and the Town of Summit. Oconomowoc’s other fire department is located on the corner of Second Street and South Concord Road. The Summit Fire Department has operated out of the Town Hall and will now move to the new facility. One large tower and a smaller tower will be available for training purposes on-site. The larger facility will have two drive-through bays and will have enough room for 8 vehicles. 
As you can see from the artist rendering of the building the architecture features a gabled roof and natural stone materials. Due to the proximity of near-by subdivisions the firehouse reflects some of the residential feel. You will notice the new structure to the east of Hwy 67 and the Kwik Trip. The firehouse is on the eastern leg of the Oconomowoc Parkway.
state of the art facility on Summit Avenue (pictured on right), near the heart of Oconomowoc are both imposing sites. Beyond all the press releases the best way to find out when the hospital opens is the people that work there. I found this blog 
Maury Sullivan (pictured on left), Oconomowoc mayor announced that he is seeking re-election this coming April. The 
In 1999 the Town of Summit and the City of Oconomowoc finalized their 
Why do we stage homes? I am often asked this by future clients. The main reason is that when you or I are considering a home purchase we want to “feel” what it is like to live in the new home. But so often homeowners’ personal effects can get in the way of seeing the home for what it is. There are those occasional homes when we walk in and it feels like home. That is what staging does! It takes what may not feel like home and nourishes the soul so as you walk into that well staged kitchen it says “Welcome”. The pictures tell the story. This brand new kitchen is waiting for someone to fall in love, and yet the red walls just don’t let the buy
er see the beauty of the rich wood hues in these custom cabinets. The right color makes the cabinets and the rich granite counters stand out! I used the services of Laurie Flatt from 
The theme this year for the annual 
The parade route generally originates from Fowler Park and makes its way through the downtown area. It is best to plan on staking out your piece of sidewalk early since the weather looks to be nice, 30’s for Sunday and partly sunny. Most of the prime spots along Wisconsin Avenue go quickly. This is another great family event in Oconomowoc.
Congress did extend the first time homebuyer credit but time is running out. Yes you have until April to secure the right home, but beyond finding the right home, don’t let the low interest rates rise before you have time to act. Here is why a small increase in rates can affect your ability to buy that ‘right’ house. Let’s assume that you have your sights on a home for $200,000. You have 5% down or $10,000 saved up. You have calculated that your mortgage payment is $994.57 for a 4.78% interest rate. If the rates rise slightly to 5.5% your payment has just moved to $1,078.80. If your intention is to keep your payment at $994.57 per month your new purchase price is $185,000! The small increase has just cost you $15,000 in purchasing power which could mean the difference between getting the right house, or not buying at all. So before rates go up, and they will, NOW is the time to be out there finding your next dream home. For more information on how to maximize your purchase in a new market call me toll free at 1-888-HEY GLEN
With the upcoming changes in the offer to purchase—now 9 pages in length vs. the current 5 pages, you may want to consider talking with a professional who will walk you through these complex and at times difficult situations. With the changes in the appraisal rules this alone can cause any Realtor® headaches not to mention a homeowner who is going at this for the first time. If you would like to see what a professional offers prior to committing to an agent, feel free to contact me and ask for my Marketing Plan in writing. I explain in detail everything that will take place if you choose to use the services of a professional. Today, the home is still the single largest investment most people have and after 20 years of successfully assisting families I can honestly say that I have saved the would be For Sale By Owner, money, time and headaches. Get all the facts before you decide to sell on your own.
The current real estate market has created all sorts of opportunities for buyers and one of them is the short sale purchase. Simply stated a short sale is property in which the sales price will be “short” of the actual mortgage balance and the seller’s lender will have to approve the sale. Potential buyers can look at this opportunity as a gold mine. Before you count your money consider these tips.
We just had a great Brokers Open 
gaudy to the classic. With a house this big you might think they would comment on how large the house was, but they didn’t. Actually most of the 50 or so agents that toured this magnificent home said that it felt like home! That is quite a statement in itself. What they were really saying, if I can interpret the comment, was this; the house, while large did not make one feel lost, rather they enjoyed the unique well planned spaces. Each room was not overwhelming rather it was inviting. 
These are huge compliments to the already inviting home. If you are interested in a truly classic home with eye towards family comfort and formality see this link or call me for a private showing, 1-888-HEY GLEN. This property is located in the Grandhaven subdivision in the town of Delafield and is currently listed for $1,595,000. 
Village Crossing at Pabst Farms, a luxury development that I am proud to market is ready for sale. The new model should be finished shortly and in the meantime the landscapers are working overtime installing underground irrigation systems, trees, shrubs and sod lawns. The charming round-a-bout entrance to the development is a nice feature. Of the 10 units that are under construction 7 are already sold. Recently I took a handful of select agents who will be part of TEAM PABST to see these glamour homes and they were noticeably impressed. 
The 10’ ceilings and custom finishes (which are standard) offer the prospective condo owner some unique features. We have all heard about the difficulty obtaining condo financing in our market. But Pabst took care of those details as well. Financing is provided with no hidden charges or costs! So buying a condo at Village Crossing is easy as 1-2-3. If you would like more information regarding this luxury development just drop me an email at 
If I give too many clues you may know where this sign is located. I am curious if you have seen this too. We have school crossings and of course those are closely monitored. The State of Wisconsin has rules for pedestrian crossings in downtown areas, but the best crossing sign I have seen is this one—Turtle Crossing. I would surmise that the turtle needs this sign to warn us. Can you imagine crossing a busy road when you have the speed of a…uh hem…a turtle? Just the other day I saw a brave little painted turtle trying to cross a very busy road. Those shells will hold up to most everything except cars. Well if you have a theory as to where this sign is located just let me know I would be interested in your guesses.
The 
Clean and organize your home. Remove all the clutter. If you need assistance with what is ‘clutter’ I can assist you with this. A clean home, even if it is dated, is more attractive than an updated home that is messy.
Many buyers are either allergic to these products or find them offensive. Almost all buyers think you are hiding a noxious odor. The reaction I have seen over the past 22 years of selling does not warrant their use. If you have a pet odor that you are trying to eliminate plug-ins are not the answer.
Make sure your curb appeal is appealing. Poorly maintained lawns, heaving sidewalks, overgrown bushes don’t give the prospective new homeowner a real warm fuzzy feeling as they make their way to the front door. 
If we are to believe the news media, no one is able to get money and thus buy a home. But if that’s true no one told us about the shortage of money. I have not found that money is difficult to obtain, however the restrictions are a little more realistic than they used to be. For example Freddie Mac (the government) now charges a 3/4pt “Delivery Fee” on loans. Outrageous you say? Well if you have more than 25% down towards the purchase price the fee can be waived, IF your credit score is reasonable. Now I can remember a time, way back, when you had to have a 
20% down payment otherwise you just did not get the loan. What we really are experiencing here in our market is a contraction from some very liberal lending policies to a more normal lending pattern. For complete information on the thresholds in lending you can visit 
In Wednesday’s edition of the Wall Street Journal the paper pointed to an ominous sign on the horizon with respect to foreclosures across the United States. You can read the full article 
is just off the lake and has fabulous panoramic views of a good deal of the lake. The stunning attention to detail for this shingle styled home is apparent in each room. The entire house has cherry floors. Priced at $1,499,900, this is a great opportunity to own a large estate just off Lac La Belle. For more details on this home at 
Okay, okay, that’s what headlines are supposed to do—get your attention. But here is the real deal with buyers today—cash in hand, no home to sell, ready to buy today. When that perfect buyer walks through your home, they are not coming to buy your home. Yes it is true. Why you might ask? Here is the Aha moment. The buyer is most likely looking at 30-35 homes, one of which is yours. They cannot buy 35 homes so what they are doing is ranking each home that they see compared to the list of items, location, amenities, whatever their list is, and they are crossing off homes on the list that don’t measure up. If your home does not have enough of the items that they are looking for then they will most certainly strike it from the list. But wait there’s more….My job as a listing agent is to assist you with what “hurdles” we can remove for that perfect buyer (or not so perfect buyer) If we can remove enough “hurdles” or objections to your home, then we have a better chance of attracting the buyer. Here is a classic example that I have heard over the 22 years of selling Real Estate. The sellers carpeting is worn or outdated and instead of replacing the carpet the seller says something like, “I can just give the buyer a credit and they can pick the color that they would like” Well that might sound reasonable, but when I suggest a color for the carpeting I wasn’t thinking of something that only 5% of the market might want. I would select a carpet that 90-95% of the market wants. Besides if it is a hassle for the seller it is a bigger hassle for the buyer. Remember we have to be removing obstacles to the sale not adding them! If you would like a complete analysis of your home just shoot me an email at 
Starbucks, Nick N Willy’s and others are right in the complex too. More and more restaurants are popping up in the vicinity of Pabst as well. Of course we have the fabulous YMCA that more resembles an upscale fitness club than your run of the mill Y. 
I know that there are tickets still available so you won’t be disappointed by the show or the venue. It is really unbelievable that we have talked for so many years about having a real theater in Oconomowoc- but now it is here. I was awestruck with the beauty inside. The handsome wood paneling, the stage with a full orchestra pit and 750 very comfortable chairs, this is important for some shows that are longer. But what makes the OAC so special is that it is here right in the heart of Lake Country and available for all of us to use. Don’t wait- go and see the jewel in Oconomowoc! Here is a link to their website: 
