Real Estate Tips - Wisconsin Short Sales|Agents|Realtors®: Wisconsin

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Tuesday, January 24, 2012

Wisconsin December 2011 Housing Statistics

The Wisconsin housing statistics are now in for December of 2011. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

"What is encouraging is to see monthly home sales continue to outpace last year's levels," said Rob Keefe, Chairman of the WRA Board of Directors, noting that home sales in December were 11.3 percent higher than December 2010".

"If home sales are to continue to grow, we will need more robust job growth going forward, but a falling unemployment rate is a welcomed sign" said WRA President and CEO Michael Theo. The [Wisconsin] unemployment rate dropped more than a half percent over the last two months to 7.1 percent in December 2011.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

Housing Statistics for the State of WI:

December 2011
Home Sales: 3,792
Median Home Price: $120,000

December 2010
Home Sales: 3,399
Median Home Price: $135,000

Housing Statistics for Dane County, WI:

December 2011
Home Sales: 313
Median Home Price: $199,900

December 2010
Home Sales: 293
Median Home Price: $222,450

Housing Statistics for Rock County, WI:

December 2011
Home Sales: 117
Median Home Price: $79,000

December 2010
Home Sales: 92
Median Home Price: $90,000

This information is courtesy of the WRA, Wisconsin Realtors Association. Please follow this link for further details: WRA Housing Statistics

View my report from last month. Wisconsin Housing Statistics

Tuesday, December 20, 2011

Wisconsin November 2011 Housing Statistics

The Wisconsin housing statistics are now in for November of 2011. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:

"We are definitely closing out the year on a strong note," said Rob Keefe, Chairman of the WRA Board of Directors, noting that the seasonal pattern of home sales typically slows as winter approaches. "The strong market of the last few months has pulled sales in 2011 nearly even with the 2010 level," he said. Keefe noted that year-to-date home sales through the end of November are now less than 1 percent below last year, and that is without any bump from the federal government to stimulate existing home sales.

"This is clearly a buyer's market, and while inventories are down from October, they still remain high at more than 14 months," said WRA President and CEO Michael Theo. "This means buyers will be in the driver's seat for the foreseeable future. The economy did get a little good news in November with an improvement in the national unemployment rate and even an uptick in consumer confidence and consumer expectations"

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you can see, home sales have been increasing substantially this year. What I find most interesting in November's data is that Rock County Wisconsin home prices are actually increasing, while Dane County Wisconsin home prices have been decreasing. Both counties continue to have an uptick in the number of homes sold.

Housing Statistics for the State of WI:

November 2011
Home Sales: 3,874
Median Home Price: $133,900

November 2010
Home Sales: 3,334
Median Home Price: $137,000

Housing Statistics for Dane County, WI:

November 2011
Home Sales: 332
Median Home Price: $210,405

November 2010
Home Sales: 250
Median Home Price: $213,475

Housing Statistics for Rock County, WI:

November 2011
Home Sales: 117
Median Home Price: $95,000

November 2010
Home Sales: 104
Median Home Price: $91,000

This information is courtesy of the WRA, Wisconsin Realtors Association. Please follow this link for further details: WRA Housing Statistics

View my report from last month. Wisconsin Housing Statistics

Monday, November 21, 2011

Wisconsin October 2011 Housing Statistics

The Wisconsin housing statistics are now in for October of 2011. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:
For the fourth straight month, Wisconsin’s monthly home sales outpaced last year while median prices continued to fall, according to data released by the Wisconsin REALTORS^® Association (WRA). Existing home sales increased 13.5 percent in October compared to October 2010, and median prices fell 7.8 percent over the same period to $129,000.
“We are continuing the trends seen throughout the third quarter with home sales well above the depressed levels of 2010,” said Rob Keefe, Chairman of the WRA Board of Directors. “By front-loading sales in 2010, the Federal Tax Rebate Program made sales in the first half of this year look weak,” said Keefe. “Conversely sales in the second half of this year look much stronger by comparison,” he added. Sales in the first half of 2011 were 17.6 percent below the 2010 levels, but in the last four months, the state is 24.5 percent ahead of last year’s pace, making the year-to-date figures just 2.8 percent lower. “The economic fundamentals really haven’t changed much over the past year so it’s not surprising our sales volume is about the same overall,” said Keefe.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you can see, home sales have been increasing substantially this year. What I find most interesting in October's data is that Rock County Wisconsin home prices are staying steady, while Dane County Wisconsin home prices have been decreasing.

October 2011
Home Sales: 4,343
Median Home Price: $129,000

October 2010
Home Sales: 3,825
Median Home Price: $139,900

Housing Statistics for Dane County, WI:

October 2011
Home Sales: 298
Median Home Price: $203,250

October 2010
Home Sales: 277
Median Home Price: $210,000

Housing Statistics for Rock County, WI:

October 2011
Home Sales: 136
Median Home Price: $95,450

October 2010
Home Sales: 121
Median Home Price: $96,000

This information is courtesy of the WRA, Wisconsin Realtors Association. Please follow this link for further details: WRA Housing Statistics

View my report from last month. Wisconsin Housing Statistics

Wednesday, November 9, 2011

Tips for your Home Inspection

Considering the cost of purchasing a home it would make sense that buyers would take necessary precautions to see if the home has any problems. A home inspection can point out any problems, if they even exist. The following list represents some pointers to consider when ordering a home inspection.

Review Credentials of the Inspector

It is wise to choose an inspector with engineering qualifications. The inspection process may discover some problems that would be best suited for an engineer to review. If that is the case, and your home inspector has no engineering certifications, then you could end up paying for the inspection of the home as well as an inspection by an engineer. A Professional Engineer designation is offered by the state and governed by a state board as well. You may ask for the inspector's designation before hiring him or her to look at your home.

Be Part of the Inspection

Do your best to coordinate the inspection with time that you are free. These inspections will typically last one to two hours. Going along to look at the home can give you a chance to see the home through the inspector's eyes. While it is a given that you will receive a copy of the report, and hopefully accompanying pictures, being present when the home is reviewed will allow you to hear and see the inspector's reaction to the condition of the home. It will also give the inspector a chance to actually show you an area of concern and perhaps provide some suggestions for how the issue can be resolved.

If Something is Confusing, Ask Questions

Home inspectors are trained professionals. They understand the structure of a home along with its working systems such as the plumbing, electrical and heating/air conditioning system. This means that the inspector may use terms foreign to you. Ask the inspector to explain any observation or issue that you do not understand. Buying a home does not mean that you have to be as knowledgeable as a general home builder. However, you should feel comfortable that the home is safe for living and that there are no immediate problems demanding expensive repair. Conversely, if the home is in need of serious repair and you have the ability or resources to fix it then you could negotiate with the seller to lower the home's price.

It is important to try and remain impartial about the home inspection. If the inspector finds some significant problems that will require a great deal of work and expense to rectify then it may be wise to consider buying a different home. However, it is also a good idea to remain rational. If you are looking at a previously owned home then you should expect that the home is not perfect and may need attention in a few areas. Just like buying a used car can mean saving some money in place of some small sacrifices, getting a used home can save many buyers some money if they are not afraid of doing a little clean up and some simple projects like a little painting or wallpapering.

Tips on your first Home Inspection - Original Post
Wisconsin Short Sales

Thursday, October 20, 2011

Wisconsin City|Town|Village Statistics

These pages offer local area information and statistics for Wisconsin Cities and Towns in Dane County and Rock County Wisconsin. Items like Real Estate Market Stats, Neighborhood Walk Score, Colleges and Schools can be found via the links below. These stats are gathered from Zillow.com, WalkScore.com, Yelp.com, TeachStreet.com, MatchCollege.com, and Education.com.

We are happy to offer this all on one convenient page! Also note, if you are looking for any other city or town in the country, we have that page too!! Simply enter in your city and state in the format below. Keep it all lower case lettering and add a dash (-) where any space might be.

http://blog.rockrealtywi.com/local/"city"/"state"/
Examples:
http://blog.rockrealtywi.com/local/madison/wi/ http://blog.rockrealtywi.com/local/los-angeles/ca/

Cities in Dane County Wisconsin:

Villages in Dane County Wisconsin:

Towns in Dane County Wisconsin:

Cities/Villages/Towns in Rock County Wisconsin:

Avon (town)
Beloit (town)
Beloit (city)
Bradford (town)
Brodhead (partial) (city)
Center (town)
Clinton (town)
Clinton (village)
Edgerton (city)
Evansville (city)
Footville (village)
Fulton (town)
Harmony (town)
Janesville (city)
Janesville (town)
Johnstown (town)
La Prairie (town)
Lima (town)
Magnolia (town)
Milton (town)
Milton (city)
Newark (town)
Orfordville (village)
Plymouth (town)
Porter (town)
Rock (town)
Spring Valley (town)
Turtle (town)
Union (town)

Monday, October 17, 2011

Wisconsin September 2011 Housing Statistics

The Wisconsin housing statistics are now in for September of 2011. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:

Wisconsin home sales were significantly higher in September even as median prices dipped slightly from their levels last year. Existing home sales rose 17.7 percent in September compared to September last year, and median prices fell 1.5 percent to $134,900 over the same period, according to data released by the Wisconsin REALTORS^® Association (WRA).

“It’s no surprise to anyone familiar with the housing market that home sales were so strong in the last three months compared to 2010,” said Rob Keefe, Chairman of the WRA Board of Directors. The expiration of the federal tax rebate program in June last year pushed much of the 2010 sales activity into the first half of the year, creating a steep drop-off in the second half. In fact, home sales for the July through September period were up 26.2 percent over the third quarter last year primarily as a result of the termination of the federal program. “Still, on a year-to-date basis, we’re only 4.9 percent off the pace set last year, and we expect to further close that gap in the fourth quarter,” said Keefe.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. What I find most interesting in the latest data is that Rock County Wisconsin home prices are increasing, while Dane County Wisconsin home prices decreased by over 10 percent.

If you would like some insight into how much your home is worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market.

Housing Statistics for the State of WI:

September 2011
Home Sales: 4,855
Median Home Price: $134,199

September 2010
Home Sales: 4,072
Median Home Price: $137,000

Housing Statistics for Dane County, WI:

September 2011
Home Sales: 373
Median Home Price: $196,859

September 2010
Home Sales: 302
Median Home Price: $222,225

Housing Statistics for Rock County, WI:

September 2011
Home Sales: 155
Median Home Price: $84,000

September 2010
Home Sales: 109
Median Home Price: $80,000

This information is courtesy of the WRA, Wisconsin Realtors Association. Please follow this link for further details: WRA Housing Statistics

View my report from last month. Wisconsin Housing Statistics

Tuesday, October 11, 2011

Benefits of Buying an Owner-Occupied WI Short Sale

There are often overlooked benefits to buying an owner occupied Wisconsin Short Sale home. It’s amazing just how much of a difference having someone living in a property can make. Here are some of the upsides that I have noticed in a Wisconsin owner occupied short sale home versus a vacant Foreclosure:

- It feels like a home. When someone is living in a short sale home, there is furniture and pictures on the wall. It has already been somewhat ‘staged’ for showings. This helps potential home buyers get a feel for what an office or kids bedroom would look like if they purchased the home.

- The grass is mowed. This helps with weed and rodent reduction. It also keeps the neighbors happy.

- The air conditioning remains on. I have come across some foul smells in vacant foreclosure homes. When a property sits sealed up for too long, there is almost always a stale smell that results.

- The heat remains on in the winter. This helps to prevent plumbing from freezing and the resulting water leaks.

- The electricity remains on. In Wisconsin, this is important for basements. When sump pumps don’t have electricity, flooding often occurs. This can result in a very costly fix. It also means that the refrigerator is cooling and dishwasher is being used. This can prevent mildew growth.

- The water is being used. Many Wisconsin homes require a water softener due to hard water. With the water being used, the softener is allowed to work. This will prevent sediment build-up which can ruin a water heater and clog up pipes.

- Property Condition Report. When a bank lists a foreclosure property, they do not have to provide a Property Condition Report. Wisconsin doesn’t require a report if the current owner has not lived in the property. In a Wisconsin Short Sale, the owner is legally required to inform potential buyers of any defects they are aware of.

Additional Short Sale Information

Thursday, October 6, 2011

Tips for Picking the Right Evansville WI Home

Tips for Picking the Right Evansville Wisconsin Home

Finding the home that meets your needs and makes you happy will usually take a little time and effort. Here are some tips that should make the whole process easier for you and your Realtor.

Develop a List

What exactly are you looking for in a home? If you are buying the home with another person then there are two sets of opinions and preferences to contend with. For this reason it is a good idea to make a short list of the features that you cannot live without. You also need to determine what features you CAN'T live with. Having these items identified and discussed before looking at homes can save some frustration. An easy way to develop the list is to look at your current living arrangements. Decide what you would like to have different in your next place and put that on the list.

Location

Picking a good location is important to every purchase. You need to determine if the home is close enough to your job. Some people don't mind a short drive everyday while other people prefer to be at work in just a minute or two. If you have children, what is the reputation for the school district of the home you are considering? Do you like to shop or attend certain events like concerts or sports? If so, how close are the available shopping and sporting venues? Looking at the home's surroundings is also important. Do you want to be in a well established community, next to a commercial development or out in the country with privacy? The location is one of the prime indicators of a home's future value. If you feel that you will sell the home in a few years then you need to take into account the home's potential for appreciation.

Mortgage Pre-Approval

Getting pre-approved for the mortgage loan is one of the best things to do before you start hunting for a house. The maximum amount you can qualify for is based upon your credit, your down payment, the amount of income you earn and the available interest rates at the time. Once you have your pre-approval letter from a lender you will be able to tell your Realtor the price range of the homes that you would like to consider.

Take Along a List

If you plan to look at multiple homes it can be difficult to remember important features of each home. Take some pictures when you look at homes and make notes about the features you like as well as the features that are displeasing to you. Having good notes can help you narrow down your choices to the home that actually meets your needs.

Listen to Your Realtor

It is good to ask questions of you Realtor and listen to their input. Realtors have lots of information about the home's neighborhood, facts such as appreciation rates and average time to sale, as well as property tax information. Ask lots of questions, take solid notes and use the data from your Realtor to help you make your purchase decision.