BAY VIEW - The president of the Greater Milwaukee Association of Realtors says there is a huge deficit for first-time home buyers searching for a house under $300,000. In fact, he's found a more than 2,200 home deficit in Milwaukee, Ozaukee, Washington and Waukesha Counties. This is making competition fierce.
A Bay View woman says she beat the seller's market, by choosing a fixer-upper.
"When you first come in you want do to everything and make it perfect," said Emily Ventola.
The home she chose had been looked over for more than a year, before she nabbed it under asking price.
"It's exactly where I wanted to be. It's close to the park, it's right by the lake," said Ventola.
She gave her kitchen a major face lift too, by transforming her cabinets. She completely gutted her bathroom with the help of her father.
Other projects needed help from outside contractors, like taking out dark stains from her hardwood floors.
Her realtor says purchasing a fixer-upper is far cheaper than competing for a move-in ready home.
"Be ready to write offers over that price point maybe even $10,000-$15,000 over asking price," warned Alyson Marr with Keller Williams Realtors.
Marr says there's a 16 percent decrease in overall listings in Milwaukee County, compared to this time last year.
She suggests getting pre-approved for a loan so you know the amount of money you can work with to find something more your speed.
