What kind of prices can I expect to pay in the immediate area in and around Downtown Milwaukee?
Expect to find nicer studios & some 1BR's, both with 1BA & parking in the $115,000 - $160,000 range. You can find a 1BR & a balcony, & inside parking for around $220,000 in the Third Ward. A 2BR/2BA in the Third Ward is generally $250,000 and up.  Underground parking, in new construction condo developments, is often an add on.  Occasionally, parking may be included but more often is an add on at an average of $10,000 per space.   

 

Tell me more about your "on-line" tour of condos?
Determine generally what your expectations, wants, and needs are and automatically you will be notified via email of available condos as they come on the market.  This will help you get a feel for the market and will assist you in "fine tuning" your search.  Your search can be modified at any time by you.  Often it helps to drive by those that have "peaked your interest" to check out the curb appeal and location.    

When you're ready, contact me to "map out" our tour.  
It's a good idea to plan on viewing several specific condos on the same day, to give an on-the-ground sense of your response to a variety of developments and to find the ones with the best fit. If you are a first-time buyer, I will explain the process of making an offer to purchase. When the specific condo and the development are "just right", it's time to get to the nitty-gritty and the details of putting together the best deal. I will continue to see your transaction through all the needed steps to a successful closing.

If we meet, will that put me under any kind of obligation to you?
I understand that people are reluctant to commit to even the appearance of an obligation, and assure you that that is not my intention. I earn a commission only if you purchase a unit. In my experience, having a cup of coffee in a low-key meeting allows us to embellish the basics needed to narrow a search: desired location and price comfort level. And I do encourage you to become acquainted with the condo market in general at the beginning of a serious search.

Considering Buyer's Agency? You should!

I have had specific training to assist you, the buyer, so to represent your best interests.  A listing agent represents the seller's interest and a selling agent is a sub-agent of the listing agent.  The agent working with you without a Buyer's Agency Agreement puts you at a disadvantage.  I provide Buyer's Agency at no cost to you! 

 

Why is pre-approval needed?
Going to a lender for a pre-approval for a mortgage loan before beginning a serious search gives you a head start. Not only will you know with confidence your actual price comfort level, but when you find a unit you really want, a pre-approval letter from your lender makes your offer to purchase stronger.  Before we tour specific condo developments, we should have your pre-approval in your file so that the seller knows your are a well qualified potential buyer.

What is the appreciation potential?
This depends on many factors: location, demand, supply, job creation, etc.  Real Estate has been a solid investment for many and will continue to be so.  I feel that you should think of your purchase as a retreat, a home, instead of as an investment.  Don't get me wrong, purchasing is a sound and smart investment.  There are many reasons other than appreciation, such as tax advantages, in owning.  Condos are increasing becoming a housing choice for young professionals and retiring baby boomers.  Appreciation exceeds inflation which mean you are always ahead of the "game" by owning!    

What do monthly condo association fees cover?
The monthly fee generally covers common area maintenance (things like snow removal & landscaping), common area insurance, a reserve for replacement (for future repairs to the common areas), trash removal, and water & sewer. It may include also heat. Refer to the condo docs and the Executive Summary provided.

 

Are pets allowed?
Again, consult the docs. Some associations allow pets, but with certain restrictions, or may have a no-pet policy which is strictly enforced.

What is a "condo alternative"?
Typically it is a 2 bedroom single family house, perhaps 1,200 square feet more or less, featuring a floor plan with larger master bed/bath, in condo size proportions.  I can assist you in your search of a single family home too!