Answers by Tiffany Drahonovsky

There are different loan products that do allow for less than 20% down. There are also down payment assistance programs (these are a 2nd loan) that help. Banks and Mortgage Brokers have different loans and programs. Some even have programs that may qualify for credits that you can use towards closing costs based on the house itself and it\'s location. What loan you end up using has to do with your current financial position, your goals and your credit score, in a nutshell.

Great question! Mortgages are built to be front loaded, that means to put most of your payment towards interest in generally, the fist 5-7 years of the mortgage. If you are paid biweekly, you can set up your payment to be sent every 2 weeks therefore making an additional full payment each year based on payroll frequency. It is important that you also notify your lender or servicing company to make sure that additional payment goes all towards principal, so it doesn\'t erode away on interest. Most typical 30 year mortgages will have you paying 3x the purchase price on the home over the 30 year term (check that amortization schedule in your closing docs), so any additional money you put towards principal can have a big impact on helping you NOT pay for all that financing over the term of the mortgage.

35 days is not that long, but it does mean that the market is telling you the price could be the issue. Pricing is a strategy and an invitation to get buyers in the door. A lower price can move a lot more people in and drive offers that compete. Most Sellers want to start high, but then do not get an offer at all, need to change something to get a different result... price and/or marketing. But, it could also be a time to reflect on what is different in the homes that went under contract... would a deep clean help? Is the home staged? What feedback did you get that you can apply? Did agent do a broker open and open houses, mailing, video and social media? Check on the specific marketing plan with your agent. You are a team, so work together and consider a price change, and maybe consider offering a concession to help the Buyer buy down their rate.

To be honest, it felt like a punch in the gut to see a friend and neighbor had listed their home and hadn\'t even spoken to me about it. This is a reality of real estate, but there is a HUGE variance in real estate agent experience, connections and personality. It is helpful to interview 2-3 so you can get some perspective on who is the best fit for you. We become super close when buying or selling, so you want someone that you communicate well with, but also someone who has the right experience... a lot has changed with technology just in the past few years, so agents who have been in the business forever might have a long track record but might also be behind in using social media, ai and current day marketing. You won\'t know this unless you interview. It\'s usually your bigget investment, so take the time to talk with friend and 1-2 others to know what you\'re getting and what is the right fit for your particular needs.

I have found that if there is a way to connect with a Seller, it is worth trying. I have had Buyers get creative and offer to pay moving costs up to a certain amount, offer a gift card to the restaurant on the corner where they likely have dined many times, and this did set those Buyers apart. But, some Sellers choose not to entertain these kind of things, like a love letter to the Seller, or even an escalation clause. I believe it is worth it if it is meaningful and is heartfelt in a connection... so tickets to a baseball game if they had baseball things all over the house might be appropriate, but if I were selling and that was offered, it would be awkward and weird as I have no interest in basement. So in my opinion, it\'s about making a connection. People often care about who is buying their home, where they have made memories and lived life. They often want to know it\'s going to good hands, or to Buyers that you have something in common with, a connection.

Hi Mary- In most cases, a home is an appreciating asset. Real estate, the house and land it sits on, are considered real property. Cars are a depreciating asset, they lose value as they age and are driven. As long as the market is strong, and the supply of homes is lower than the demand (we are very short of inventory now compared to demand) buying and/or building a new construction home can be a great way to grow your equity and appreciation based on the current economics. Buy now. Things are not likely to get cheaper/less expensive and by waiting, you could potentially miss out on the compound appreciation of a home year over year.

As someone who got into real estate working only with investors who look for a way to add value, ADD THE BEDROOM! Adding a bedroom, a bathroom or finished un-used living space is a great way to make more on your home when it\'s time to sell. Other considerations include finishing a basement area and updating kitchen and bathrooms. That\'s where we spend the most time in our homes, these items all add real value and equity!

Some updates on commission changes that took effect in August 2024 in Wisconsin and across the country. Yes, commissions are negotiable. They always have been. Some agents offer different service levels at different commission rates, and some do not. Either way, this conversation should happen upfront — before you tour homes. What changed on August 17, 2024: Agents in Wisconsin are now required to have a signed Buyer Agency Agreement before showing a home, or have the Buyer sign a Showing Agreement first. The distinction matters — a Showing Agreement allows an agent to show you a home, but they are legally working on behalf of the Seller until you formally hire them. That means no professional advice, no running comps, and no writing offers on your behalf until you sign a Buyer Agency Agreement. On who pays the Buyer\'s agent: Sellers are no longer required to offer compensation to a Buyer\'s broker. However, Buyers can still ask the Seller to cover some or all of their agent\'s fee as part of the offer. In Wisconsin, the WB-11 Offer to Purchase now includes a specific line item for this — similar to asking a Seller for a home warranty, inspection credits, or other concessions. One more thing worth noting: Wisconsin listing contracts still indicate whether a Seller is offering a co-broke, but that information may no longer appear in public marketing materials. The bottom line: Historical home prices in Wisconsin already reflected compensation for both the listing broker and buyer\'s broker built into the sales price. So practically speaking, not much has changed. What matters most is working with an agent who has the experience, market knowledge, and confidence to write an aggressive offer that gets you what you want.