Should you get pre-approved?

Over the next couple of weeks/months I thought it would be fun and informative if we could hear from various local experts in the real estate field.  Hayward has many amazing, smart and savvy business people and I think we can benefit from hearing some of the real estate advice they have to offer.  

If you have a topic or and article you would like to us to write about let me know and I will see what I can put together.

For this blog post we have the privilege of hearing from one of our local lending experts.  She has some great wisdom and advice and many years of experience in the lending business.  Her name is Angie Ruid and she is with Community Bank of Northern WI.  If you'd like to reach her or get more information I've posted her contact information at the end of this article.

Thanks Angie for helping us out with our first guest blog post!


Should you get pre-approved?
Many buyers are not aware that by getting “pre-approved” by a lender can actually
speed up the process of their mortgage loan application. In today’s lending
environment with mortgage regulations being tighter than they have in the past it’s
important for buyers to understand that buying a home can be a lengthy process.
By obtaining a pre-approval from a lender you are not only letting the seller know by
presenting the pre-approval letter with the offer that you are a serious buyer, but it also does speed up the loan process with your lender. By providing your personal
information along with your income and asset to your lender ahead of time allows the
lender to pull your credit and determine your credit worthiness prior to you making an
Then once you have the accepted offer the process is much more simplified.
Documentation supporting your income and assets would be collected from the lender
along with the accepted offer to purchase. Once the file is complete with all necessary
documentation including appraisal, title, inspections, etc. the file would then move to the final underwriting stage. At the time of final approval a “Loan Commitment” letter can then be issued to the buyer to remove the financing contingency on the offer to
Should you have questions about how to get pre-approved or about the mortgage loan
process, please don’t hesitate to contact me. With over 25 years in the mortgage
industry, I have the products and knowledge to make your home buying experience the best it can be!

Angie Ruid
Vice President - Mortgage Lending
Phone (715)634-3055
NMLS#747120

2015 National Association of Realtors Profile of Home Buyers and Sellers

NAR 2015 Profile of Home Buyers and Sellers

The National Association of REALTORS^® recently released its 2015 Profile of Home Buyers and Sellers report and there are some interesting new trends emerging this year. One fascinating trend is that in almost every region of the United States, buyers were trading up and buying bigger homes. According to the new report, 42 percent of all buyers traded up in the size of their home, up from 40 percent in 2014. In the 2014 report, buyers reported that they were looking for homes similar in size at 31 percent compared to 29 percent in 2015. One reason for this shift is that people finally have more equity from selling their previous homes in order to buy a bigger one. Sellers also reported that they sold their homes for a median of $40,000 more than they purchased it, up from $30,100 in 2014.

See the 2015 Profile of Home Buyers and Sellers and related information at http://www.realtor.org/reports/recent-home-buyer-profiles

Read Highlights from the 2015 Profile of Home Buyers and Sellers at http://www.realtor.org/reports/highlights-from-the-2015-profile-of-home-buyers-and-sellers

• At 30 percent, the primary reason for purchasing a home was the desire to own a home of their own.
• Eighty-seven percent of buyers recently purchased their home through a real estate agent or broker.
• Eighty-eight percent of buyers would use their agent again or recommend their agent to others.
• Only eight percent (down from nine percent) of recent home sales were FSBO sales. This is the lowest share recorded since this report started in 1981.

See the infographic portraying the characteristics of home buyers and sellers at http://www.realtor.org/infographics/infographic-2015-profile-of-home-buyers-and-sellers

Fun For All at the Birkie

The American Birkebeiner Ski race isn't just for die-hard ski enthusiasts there are lots of fun events that the go on the two days prior to the big ski race.  Last night, one of those fun events, was the Giant Ski Race. Teams of 6 brightly adorned, decorated and decked out racers slide down Main Street on two giant skis competing for the best time.

Below is a video of the top two teams racing for the win. 

Video by bluemoosevideos on YouTube

Afterwards there were some fun shenanigans - skiing down the new Birkie bridge.

RIS Media Reports: "Mortgage Rates Hit New Lows"

RIS Media reports that for 2014 mortgage rates have hit new lows.
Currently local rates are hovering around 3.125% - 3.4% for a 15 year note and 4% - 4.5% for a 30 year notes.  Northwest WI has many highly qualified and excellent lenders. If you are looking to finance your purchase be sure to contact one of our local lenders.
Local Lender List

To see the full RIS Media article click on the link below.
Mortgage Rates Hit New Lows/

Here's a fun video clip of all the great things going on during the 2014 Chequamegon Fat Tire Bike Race.

Lumberjack World Championships!

This weekend is the Lumberjack World Championships in Hayward. Come Enjoy the fun.

Lumberjack World Championships

Lots of Summer Fun

If you are looking for fun things to do in the Hayward area this summer check out the Chamber of Commerce website and this link to the Hayward Area Attractions.

Realtor Recycling Round-Up

Market Update for Buyers

Market Update

It was a strong year for sales in 2013; with it behind us it is worth taking a look at the pulse of the market. State-wide in Wisconsin home sales were strong with a state average up more than 11 percent over 2012. In our area the number of homes sold and median price was up over last year; a good sign for sellers. I have attached a brief overview of all property sales for Sawyer County for 2013 as compared to 2012.

The downside for sellers is that growth in value is slow but the upside is that our property values are far less volatile when compared to areas in the western and the southern parts of the country.

For buyers there remains a good amount of supply, continued low interest rates, good local lending and overall very affordable land, homes and commercial properties. In summary it remains a buyers market even though inventories are shrinking. There still remains a good supply of properties at affordable prices. Coupled with low interest rates it should be another strong year for our area.

It has been a great year for snow and that is about all I wish to say with respect to winter. Let the sun shine and the snow melt; I am ready for spring and summer!

Gary Nathan
Life is a Gift...Live it!
Woodland Developments & Realty

New Mortgage Rules

This is a great interview with Rose Oswald Poels from the WBA (Wisconsin Bankers Association) on how the new federal mortgage rules will impact borrowers.

By the way... this impact isn't just for WI -- these are Federal Rules....
WISN 12 News Kent Wainscott Interview with Rose Oswald Poels