FREE Foreclosure Prevention Workshop for any homeowner who is concerned about the affordability of their mortgage. As foreclosure and short sale experts in the real estate world, our team talks to a lot of people who are concerned with their ability to continue to pay their mortgage. Whether their adjustable rate mortgages are coming due or someone in the home has recently lost a job or a divorce is causing financial stress; there are many reasons that a looming foreclosure is a reality. Our website has great information as you start to understand what your options are and there are great local organizations that are here to help too.

Madison WI Foreclosure Prevention Workshop

Monday, September 20^th 6-8pm and Monday, September 27^th 6-8pm
*MUST ATTEND BOTH NIGHTS

Goodman Community Center, 149 Waubesa Street, Madison WI
Click here for the map.

This two part workshop is hosted by the Dane County Foreclosure Prevention Task Force and is designed to educate homeowners about options for their mortgages including loan modifications:

• Learn about programs to help you manage your mortgage.
• Leave with tools and resources to help you make informed decisions.
• Small group conversation with housing counselor, attorney, real estate agent, financial educator.

Please contact Ellen Bernards, 608-576-8658, ebernards@greenpath.com to register. Registration is not required but recommended. And visit the Dane County Foreclosure website: www.daneforeclosurehelp.org or contact Carlos Alvarado at 608-438-6757 or carlos@thealvaradogroup.com.

4817 Anniversary Lane, Madison WI condo for sale

Stop Renting! This spacious and sunny townhome is brought to you affordably courtesy of the Madison Community Land Trust. Watch the sun pour in the patio doors and highlight your vaulted ceilings. Enjoy your open living room/dining room/kitchen concept layout with a guest bathroom conveniently located downstairs. Up the open staircase you will find 3 spacious bedrooms and a full bathroom. City of Madison down payment assistance is available. Buyers must meet income qualifications. This condo is in pre-foreclosure. More details about the short sale / foreclosure process for Buyers can be found on our website. Our check out this blog post about the top 10 factors to look for in purchasing a Madison Foreclosure.

3 bedrooms, 1.5 bathrooms, 1,300 sq. ft.
Built in 1998, 1 car garage attached

View current price and more photos – click here!

Contact a team member for a showing or call 608.251.6600 or email: info@thealvaradogroup.com.

Many of you know that co-owner, Carlos Alvarado, is from Puerto Vallarta, Mexico and moved to Madison in 2002. Our ties to Mexico are strong and our love for Mexico, the culture, the language, la gente even stronger. The hispanic community in Madison makes loving Madison easy and our support for events like this are important to us. Please join us…

A TRUE CULTURAL EXPERIENCE- 6th Mexican & Centro America Independence DAY Festival

Saturday, September 11th, from 11am to 9:00pm at Warner Park in Madison WI.
Click here to view map of Warner Park.

This year for first time in Madison, Centro America communities will join efforts in the festival becoming the Mexico and Centro America Independence Festival. 

The Festival – one of Madison’s signature cultural events – attracts thousands of individuals from our multicultural community to enjoy music, authentic ethnic cuisine, traditional folkloric dance performances, children’s activities, cultural exhibition, and Mariachis – a true cultural experience for all.  This year will host two stages with 20 different performances including traditional dances and life music.

Madison Festival Events Schedule

• Kids activities, food vendors and music will start a 10am, and life music will play from 11am to the end of the event distributed among two stages in Warner Park.
• Centro American Program will start at 1:30pm, mean while the Mexican program will start at 4pm. Some of the highlights of the event are the traditional “Shout of Independence” and for the first time Independence Exhibition. 
• Alder Shiva Bidar will address the crowd on behalf of the city of Madison.

The Festival’s revenue supports the scholarship awards to High School Latino students. This year, 8 high school students will receive $250 scholarships. Among the requirements to qualify for the financial aid student did submit essays about different topics about Mexico and Centro America. The essays will be shown during the festival as the exhibition. 

Madison Area Community Supporters:

Sam’s Club, MATC, Saul Daniel , Habaneros, Los Gemelos, Alvarado Real Estate Group, Fiesta 38, unisex Latino Hair Salon, Wisconin Taxes Services, Gira-Sol-Ito, La Mestiza, Cancun Restaurant, UNIDOS, La Chiquita, El Bolillo, Taqueria Guadalajara, Inca Heritage, Dulceria LUCY, Lupita’s Fashion, Latino Chamber of Commerce, Tico Computer, Taxes Diaz, La Zacatecana, Voces Unidas , Sheriff Office,Wl Chaparral, Taquerias Marimar, Café Costarica, Edwood college, Video senorial, La Grupera, El Barrio, Rock en Espanol, La Comunidad News, La Botika and more.

This gorgeous and almost new home with custom built features like extra large windows, sound system & amazing backyard was recently sold by Sara Alvarado. The activity was strong and the interest was high but it took longer than anticipated and sold for a lot less than it was purchased for in 2005 due to depreciation in the area. These Sellers did all the right things to create a well staged and showing ready home and that made a big difference and they were thrilled to get a SOLD sign in the front yard.

Very well maintained Energy Star home features an open kitchen, eating area, sliding doors to back deck, formal dining room (currently tv room), bright living room w/cathedral ceilings. Upstairs features 3 bdrms + loft area office (could be family play area). Master features large bathrm, walk in closet, vaulted ceilings. Main floor laundry room. Best yet…McFarland Schools! Just 10 minutes to the Beltline.

- 3 BR, 2 full BA, 1 half BA, 1997 Sq.Ft.
- 2 car garage attached, full unfinished basement
- List price: $269,900 – Sold price: $255,000

Contact us to learn more about Getting Your Home Sold with the Alvarado Real Estate Group.

Sustainable Showcase of Homes Features Green Building Techniques

Join us for an open house event across the Madison area to tour Green Built Certified and/or Energy Star homes and remodel projects and learn more about what people in our communities are doing. The 2010 Sustainable Showcase of homes is an all day event on Saturday, October 23^rd from 10-4pm. An after-event party will be held at the Habitat ReStore, 208 Cottage Grove Road, Madison for networking and business contacts plus beer tasting. Proceeds from the event will benefit Habitat for Humanity of Dane County.

The showcase will contain a mix of new, remodeled and existing homes that were built with the Green Built Home certification. Properties will highlight many different “green” principals and products including renewable energy, energy efficient construction, water conservation and more throughout the Dane county area.

This tour allows homeowners and contractors to discuss their green building techniques and the newest innovations in sustainable building and remodeling. Tour attendees will be able to ask questions and see firsthand how they could incorporate green building practices in their current or future home. More than 20 homes and sites will be featured in various stages of construction and certification.

The tickets will be $10 per person and sold at all four Home Savings Bank locations and also available for purchase at sites the day of the event.

For more information visit www.sustainableshowcase.org

Presented by Madison Area Builders Association (MABA), National Association of the Remodeling Industry (NARI), Realtors® Association of South Central Wisconsin (RASCW) and the Madison Chapter of the Wisconsin Mortgage Bankers Association (WMBA).

JUST ANNOUNCED: The Presenting Sponsor for the event is MG&E, which is generously donating funds and in-kind support. Focus on Energy is a Gold Sponsor and Isthmus is the Media Partner for the event.

805 Bewick Drive, Madison WI

Incredibly well maintained ranch in a well established, sweet East side neighborhood close to Sycamore Park. There are many updates that make this home move in ready. The lot is perfect as the home sits high (no water in the basement) & the fenced backyard is level & spacious for fun play & offers a beautiful pond with fish, gorgeous landscaping, and a patio for entertaining. New roof, exterior just painted, new carpet, mechanicals replaced in past 10 years, full bathroom in lower level. 1 year home warranty included.

Created with Admarket’s flickrSLiDR.

• 3 bedrooms
• 2 bathrooms
• 1705 total finished sq. ft.
• For price and additional information, click here.

Property Features:

• New 35 yr architectural shingle roof with transferrable warranty installed in JUNE 2010!
• Exterior Redwood siding recently painted (May/June 2010)
• New carpet in living room, May 2010 (no hardwood flooring under carpet in living room)
• Fresh paint throughout!
• Dishwasher new in 2008
• New flooring in kitchen in 2007
• Water heater new in 2003
• Washer and dryer replaced in 2001
• Furnace, April Air & central air units were replaced in 2000
• Wood burning fireplace in lower level is in good condition
• Seller will show Buyer how to use the pond (well maintained, fish stay alive through the winter).

Neighborhood Information

• Walk to Sycamore Park and enjoy the quiet Bewick Drive.
• Close to many great restaurants and shopping at East Towne Mall, the new Hy-Vee grocery store, Target, and more.
• Easy access from Hwy 30 to Stoughton Rd., Aberg, Interstate 90/94.
• Only 10 minutes to Downtown and UW campus.

School Information For 805 Bewick Drive

Schenk Elementary
Whitehorse Middle School
La Follette High School

For a private tour or more information on this home and its availability, please contact office@thealvaradogroup.com or 608.438.4315.

Today’s Madison WI real estate landscape offers some great buys for savvy real estate consumers, especially when it comes to foreclosure properties. Unfortunately, even though there are already a large number of foreclosures on the market, analysts are predicting that yet another wave of distressed properties will crop up in the coming months.

As a local Madison area Certified Distressed Property Expert (CDPE), I’ve consulted with many clients seeking to capitalize on a foreclosure purchase. I always advise them, however, to weigh the pros and cons. While a foreclosure could represent your best chance to get a great deal, make sure you educate yourself about the potential pitfalls of purchasing a distressed property in advance – and what correcting those pitfalls might cost. In most cases, it’s not so much about what damage occurred but rather the source of the damage and how long before the problem was addressed.

Here are the top 10 signs that may indicate trouble in a foreclosed home:

1. Unheated house in winter months. If the home has been properly winterized, there’s no need for heat. But if the home has not been properly winterized, pipes will burst and cause water damage.
2. Missing sinks, toilets and other fixtures. Make sure they’ve been properly removed and not ripped from walls and floors.
3. Peeling, bubbling and discolored paint; swelling in walls or ceilings (especially around kitchens and bathrooms), or a musty odor all indicate water damage and, potentially, the presence of moisture and mold.
4. Fungus growth inside cabinets, behind drawers and built-ins. Fungus could mean that there has been water damage. Since water falls down, look for the source above the mold.
5. Blocked drains or pipes will cause future problems and may have already created sewage backups.
6. Black cobwebs, greasy gray residue on walls and/or a strong oily odor. This could point to potential soot damage or a malfunctioning furnace.
7. An older home with extensive renovations. Check with the city for pulled permits in order to get remolding details. If asbestos is present and has been disturbed, be sure it’s been remediated by a certified specialist.
8. Excessive painting of every nook, cranny, door and floor may mean that the seller is covering up mold.
9. Discolored subflooring. From the basement, check the subflooring above for stains and small holes, both caused by mold.
10. Air quality. The air quality within a home tells a lot about the home’s condition. Be sure to include air and surface testing in your home inspection. It’s a few hundred dollars well spent.

Please keep in mind that not only are there potential issues with the condition of a foreclosed property, but each foreclosure property is sold subject to restrictions of record which are unknown to the Sheriff and subject to any unpaid taxes and water bills or assessments. One of our favorite resources is the Dane County Foreclosure website.

There are indeed many great opportunities in today’s market, but proper education and preparation are essential to making the right investment. Please call 608.251.6600 or email us for further information and be sure to forward this article to others who might be considering a foreclosure purchase.

Search all foreclosure homes in the Madison area.

Wonderful floor plan, warm colors & a great lot with fenced yard & beautiful mature trees makes this home stand out from the rest. You’ll love the updates like newer windows, updated bathrooms, new furnace in 2006 & more. First floor family room w/stone fireplace, formal dining room & the upstairs master bdrm has a walk through bathroom. Lower level: newer egress window adds additional sunlight & full bath, great for guests! Vibrant community of Wexford Village, parks, walking/biking trails, close to shopping! And for more information about short sales…if you are a buyer and if you are a seller.

Created with Admarket’s flickrSLiDR.

- 3 Bedroom, + office, 2.5 Bathrooms, 2,051 Sq Ft
- Main floor family room with wood burning fireplace
- Great fenced backyard with patio
- Lower level has private bathroom, great for guests!
For additional information and price, click here.

Property Features

- Furnace new in 2006
- Refrigerator new in 2008
- Newer windows (date unknown, but not original)
- Fan in master bedroom newly installed in 2010
- Sump pump in basement, seller has never had water problems
- Water softener recently serviced, good condition
- Fireplace has not been used by current owners

Wexford Village Neighborhood Information

- Enjoy several nearby parks, including Blackhawk, Junction Ridge, Mineral Point, Kettle Pond, Everglade and more
- Great shopping, restaurants and entertainment at nearby Sauk Point Square, Stonefield Glen and West Towne mall
- The High Point Swim Club is a few short miles away
- Local Wexford Village neighborhood association sponsors a variety of events and activities all year around.
- Wexford organizes its very own baseball and soccer leagues!
Please check out more details at the Wexford Village website.

1 N. Strathfield Circle School Information

Stephens Elementary
Jefferson Middle School
Memorial High School

This home is a short sale. The Alvarado Real Estate Group has team members that can assist you in learning more about short sales as a buyer or as a seller. Please contact us for a private tour or more information on short sales and the buying process:  office@thealvaradogroup.com or 608.438.4315.

A Madison WI Green Home for Sale! And a garden lovers heaven! The time, love & dedication that has gone into the landscaping makes this sweet bungalow a special find. And if you value energy efficiency and green features, check out the solar hot water system, rain barrel and the low utility bills! Interior features: laminate floors, spacious layout, newer windows. Exterior features: new siding, built in patio firepit, amazing garden and more! The backyard borders a city park & bike path! Sit on the front 3 season porch and escape into your retreat home.

Created with Admarket’s flickrSLiDR.

2550 Hoard Street has 3 bedrooms, 1 bathroom, 1155 sq. ft and a 1 car garage attached. For the current price, click here.

Property Updates and Features

- New toilet 2010
- Replaced sink, faucet & disposal 2007
- Solar hot water heater panels and system installed in 2005
- Gas water heater New 2001
- New stainless steel siding 2005 with lifetime warranty
- Windows replaced in 2005 (Living Room, 1999)
- Refrigerator replaced in 2003
- Laminate wood flooring installed 2001
- Roof replaced in 1999
- Washer & dryer 1998
- Great edible landscaping includes: Raspberries, blackberries, kiwi, apple tree, blueberries, strawberries, mulberries,
currants, lingon berries, josten berries, elderberries, perennials and more!
- Tile work by Red Rose Mosaics
- Backyard patio features high efficiency fire pit surrounded by gardens and borders the city bike path and park
- UHP warranty included in sale (value $425)

Neighborhood Information

- Walk to area restaurants, shopping, grocery stores, Walgreen’s
- Walk to famous Ella’s Deli
- East commute access to Downtown or Aberg to Stoughton Rd.
- Close to the bike path, bus routs and parks
- Family friendly, quiet neighborhood
- Visit the Hawthorne Library on E. Washington
- Minutes from Downtown, Capitol & Beltline
- Walkscore of 68 (pretty good!) at www.walkscore.com

2550 Hoard Street School Information

Emerson Elementary
Sherman Middle School
East High School

For a private tour or more information on this home and its availability, please contact office@thealvaradogroup.com or 608.438.4315.

This just came through from WHEDA (Wisconsin Housing Economic Development Authority)

Thanks to a change in our underlying cost of funds, WHEDA effective immediately is substantially reducing the interest rates on its WHEDA Fannie Mae Advantage suite of first mortgage products. The new rates are as follows:

WHEDA Fannie Mae Advantage 4.95%
WHEDA Fannie Mae Advantage – Price Point 4.40%
WHEDA Fannie Mae Advantage – MI Choice 4.60%
WHEDA Fannie Mae Advantage – Low LTV 4.60%

WHEDA will reduce the interest rates accordingly on all loans that are currently locked but have not yet funded. Lenders will receive a revised Confirmation of Rate Lock. Rates are subject to change daily, so lenders should visit www.wheda.com periodically for the most up-to-date interest rates.

WHEDA issues mortgage revenue bonds (MRBs) to raise proceeds to fund its mortgage loans. Changes announced yesterday to the New Issue Bond Program (NIBP) by the U.S. Department of Treasury will effectively reduce the interest rate on MRBs WHEDA will issue through December 31, 2011, making this one-time decrease in interest rates possible. Under NIBP, the Treasury, through Fannie Mae and Freddie Mac, is investing in a portion of MRBs issued by state housing finance agencies (HFAs) in an attempt to lower borrowing costs for low-to-moderate income first-time home buyers as a means of increasing affordable housing lending activity nationwide.