Buyers have the advantage in this shifting market
By Rick Hazeltine - Realtor.com
Buyers are finally being able to take advantage of cooling trends in previously hot markets. Multiple offers are no longer being thrown at sellers as soon as the For Sale sign hits the front yard.
Competition has dwindled in many areas as investors disappear and buyers take to the sidelines. Unless a buyer thinks his local market is headed for a big downturn, this could be the pause that allows him to get into the market with a few perks unheard of in recent years as a bonus.
So how do you know what shape your market is in? Economists believe that real estate is closely tied to employment, so if you’re in an area of growing employment, don’t expect to see double-digit depreciation anytime soon. In areas such as the Midwest, where auto manufacturing is king, prices have fallen sharply and will likely continue until the industry rebounds.
Here are 10 things buyers need to know to negotiate the best deal in a market shifting to their favor:
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Monday, August 01, 2011
Saturday, July 23, 2011
Milwaukee Real Estate: Sell your house faster in a tough market
(By Donna Rosato June 27, 2011, Money Magazine)
It's an extreme buyer's market -- and home values could fall another 5% by year-end. Here's how to meet the challenge faster, cheaper and better.
Faster
Underprice the place by 10%. Doing so will be painful, no question. But with cheap foreclosures still flooding real estate markets around the country, listing your home for less than comparable ones in your neighborhood is the best way of unloading it as quickly as possible. By making your home look like a bargain, you'll attract a crowd, says Steve Murray, editor of Real Trends newsletter_ and ideally start a bidding war. Remember: Your listing price is not necessarily your selling price.
Read Full Story>
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It's an extreme buyer's market -- and home values could fall another 5% by year-end. Here's how to meet the challenge faster, cheaper and better.
Faster
Underprice the place by 10%. Doing so will be painful, no question. But with cheap foreclosures still flooding real estate markets around the country, listing your home for less than comparable ones in your neighborhood is the best way of unloading it as quickly as possible. By making your home look like a bargain, you'll attract a crowd, says Steve Murray, editor of Real Trends newsletter_ and ideally start a bidding war. Remember: Your listing price is not necessarily your selling price.
Read Full Story>
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Shorewood WI Real Estate: Home For Sale
1830 E Marion St, Shorewood, WI 53211-2034
4 Bedrooms, 3 Baths
$415,000
Directions: (43N 14E) Oakland to Marion, East to Property
This beautifully renovated home has space for everyone and everything w/4 bedrooms, 3 full baths & 1st flr family room! The NEW cook's kitchen has granite counter tops, SS appliances & an abundance of new maple cabinetry. This move in ready home includes new roof, new windows, fresh landscaping, refinished HWFs & a 3 car garage with loft! The home's ideal location is just a short walk to Shorewood's vibrant Oakland Ave & its many shops and businesses! A must see!
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Friday, July 01, 2011
Metro-area existing home sales fall 15.5% through June
(By Paul Gores of the Journal Sentinel)
Sales of existing homes fell 15.5% through the first half of 2011 while average sale prices continued to retreat - more evidence of an industry still hamstrung by high unemployment and economic uncertainty.
Through June, Realtors sold 6,047 homes in Milwaukee, Ozaukee, Washington and Waukesha counties, down from 7,157 in the first six months of 2010, according to data released Monday by Metro MLS Inc.
At the same time, the average price of homes sold in Milwaukee County dropped 12.2% in the first half of this year, to $128,075 from $145,908 in 2010. That dragged the average sale price, which continued to be affected by a large number of foreclosures, to roughly 2002 levels.
Average prices held up somewhat better - but also declined - in each of the three other metro-area counties: Ozaukee, to $270,435 from $278,074, a 2.7% decline; Washington, to $192,341 from $200,959, a 4.3% drop; and Waukesha, to $256,076 from $266,989, or 4.1%.
While home values haven't plummeted as much in Wisconsin as they have in the housing boom states, what's happening here is part of a national malaise in the market.
"I think it's going to be very hard, if not impossible, to get a meaningful recovery in housing until we see better employment," said economist Jay Mueller, a portfolio manager for Wells Fargo Advantage Funds in Menomonee Falls.
Read Full Story>
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Sales of existing homes fell 15.5% through the first half of 2011 while average sale prices continued to retreat - more evidence of an industry still hamstrung by high unemployment and economic uncertainty.
Through June, Realtors sold 6,047 homes in Milwaukee, Ozaukee, Washington and Waukesha counties, down from 7,157 in the first six months of 2010, according to data released Monday by Metro MLS Inc.
At the same time, the average price of homes sold in Milwaukee County dropped 12.2% in the first half of this year, to $128,075 from $145,908 in 2010. That dragged the average sale price, which continued to be affected by a large number of foreclosures, to roughly 2002 levels.
Average prices held up somewhat better - but also declined - in each of the three other metro-area counties: Ozaukee, to $270,435 from $278,074, a 2.7% decline; Washington, to $192,341 from $200,959, a 4.3% drop; and Waukesha, to $256,076 from $266,989, or 4.1%.
While home values haven't plummeted as much in Wisconsin as they have in the housing boom states, what's happening here is part of a national malaise in the market.
"I think it's going to be very hard, if not impossible, to get a meaningful recovery in housing until we see better employment," said economist Jay Mueller, a portfolio manager for Wells Fargo Advantage Funds in Menomonee Falls.
Read Full Story>
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Tuesday, April 05, 2011
Thursday, October 08, 2009
Attention Short Sale Sellers/Listing Agents!
If you have a short sale listing in southeastern Wisconsin OVER $500,000 , we have a qualified, experienced short sale investor who will negotiate with the bank & buy it for you!! No cost to the seller or agents. Seller walks away. Lister still gets commission. Contact me or Eileen Nelson at First Weber (414-962-3000) for more information!!
Monday, August 03, 2009
Wauwatosa Home For Sale
2629 N. 65th Street, Wauwatosa, WI
$209,922.00
More Photos »
Satellite View »
Virtual Walk-through Photo Tour >>
Details
Address: 2629 N. 65th Street Type: Residential Style: 1 1/2 Story "Cape Cod" Bedrooms: 3 Bathrooms: 2 "1 Full, 1 Half" Garage: Single, Detached "1.5 Car" Basement: Yes, Full Size: 1,419 sq. ft. Lot Type: Rectangular Lot Size: 40ft x 191ft Year Built: 1948 Taxes: $4,008.00 (2008) MLS®: 1094015
Description
Imagine coming home to a quiet, tree-lined street and seeing this charming Cape Cod across from a lovely park! Surrounded by old-world charm, you can relax, because all of the work has been done for you. Whip up some comfort food in the sunny, eat-in kitchen, which features granite tile counters. Enjoy a cookout on the patio, overlooking the HUGE backyard. Entertain friends and family in the lovely formal dining room. Enjoy the game on TV in the comfortable rec room. And finally, stretch out in the comfort of your spacious master bedroom. There’s even a new roof, newer mechanicals, central air and a 3-season room. Ahhh…you’re home!
Highlights
▪ Click Here For Google Street View
Features
Interior Features
▪ Hardwood Floors
▪ Laundry Room
Cooling
▪ Central Air
Exterior Finish
▪ Vinyl
▪ Wood
Heating
▪ Forced Air
▪ Natural Gas
Roof
▪ Composition
Sewer/Water Systems
▪ Public
View
▪ Park
Lot Features
▪ Fenced
▪ Front Porch
▪ Garden Area
▪ Lawn
▪ Patio
▪ Trees / Shrubs
Appliances
▪ Dishwasher
▪ Gas Range
▪ Refrigerator
▪ Washer/Dryer Hookup
Extra Features
▪ Balcony
▪ Cable Available
▪ Covered Parking
▪ Garage Door Opener
▪ High Speed Internet Available
▪ Public Transportation
▪ Storage
Satellite View »
Virtual Walk-through Photo Tour >>
Details
Address: 2629 N. 65th Street Type: Residential Style: 1 1/2 Story "Cape Cod" Bedrooms: 3 Bathrooms: 2 "1 Full, 1 Half" Garage: Single, Detached "1.5 Car" Basement: Yes, Full Size: 1,419 sq. ft. Lot Type: Rectangular Lot Size: 40ft x 191ft Year Built: 1948 Taxes: $4,008.00 (2008) MLS®: 1094015
Description
Imagine coming home to a quiet, tree-lined street and seeing this charming Cape Cod across from a lovely park! Surrounded by old-world charm, you can relax, because all of the work has been done for you. Whip up some comfort food in the sunny, eat-in kitchen, which features granite tile counters. Enjoy a cookout on the patio, overlooking the HUGE backyard. Entertain friends and family in the lovely formal dining room. Enjoy the game on TV in the comfortable rec room. And finally, stretch out in the comfort of your spacious master bedroom. There’s even a new roof, newer mechanicals, central air and a 3-season room. Ahhh…you’re home!
Highlights
▪ Click Here For Google Street View
Features
Interior Features
▪ Hardwood Floors
▪ Laundry Room
Cooling
▪ Central Air
Exterior Finish
▪ Vinyl
▪ Wood
Heating
▪ Forced Air
▪ Natural Gas
Roof
▪ Composition
Sewer/Water Systems
▪ Public
View
▪ Park
Lot Features
▪ Fenced
▪ Front Porch
▪ Garden Area
▪ Lawn
▪ Patio
▪ Trees / Shrubs
Appliances
▪ Dishwasher
▪ Gas Range
▪ Refrigerator
▪ Washer/Dryer Hookup
Extra Features
▪ Balcony
▪ Cable Available
▪ Covered Parking
▪ Garage Door Opener
▪ High Speed Internet Available
▪ Public Transportation
▪ Storage
Tuesday, June 09, 2009
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