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Oak Creek, WI Real Estate News

By Keith Manson
(First Weber Group/short sale/cdpe/gri)
I have seen a lot of Blogs about foreclosures and short sales recently. to address this in the simplist of terms I did some research and found an article written by Elizabeth Weintrab on About.com. Basically the article indicates that your credit will be hit just as hard if you are foreclosed or you complete a short sale.  There is one exception according to Elizabeth which is if you have no 60 day plus late payments on your credit report and do a short sale you may be able to purchase a new home immediately. With a short sale the credit reporting wil be hinged on how the bank reports the credit.  Unless the bank reports it as paid in full your credit will be hit hard.  Typically banks report a shortage with what is called a code 22. This reporting indicates delinquency, derogatory reco...
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By Keith Manson
(First Weber Group/short sale/cdpe/gri)
The sold activity in Febuary was only 5.9% less than activity in 2008 and there was only 40 new listings that is 21.6 % less that the same time in 2008. The 16 properties that sold in 2009 had a average sold price of $193,318 and a list to sales ratio of 96.48%. The properties sold in an average of 112 days. Currently there are 14 pended transactions that may close in March.   The current inventory in Oak Creek of active listings is 313 with an average list price of $269,855 and have been on the market 213 days.
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Oak Creek, WI Real Estate Professionals