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Tuesday, February 9. 2010
As of today, there are 80 days left to get an accepted offer on a new house (first time or move up.) There's money on the table in terms of tax credits. Read more here at firstweber.com and here at Realtor.org. Accepted offer by April 30, 2010. Close by June 30th. You must QUALIFY for the credit and the links above talk about that. Ask your First Weber realtor or attend a seminar. You might as well take a look at what Wisconsin real estate is available right now. Hope we can help you!
Thursday, February 4. 2010
Wisconsin Rapids Office Builds Snow Sculpture for FundraiserThe Wisconsin Rapids office participated in the 5th Annual Snow Sculpture on Saturday, a First Weber Group Foundation-sponsored event benefiting the South Wood County Humane Society. Real estate snow-artists Keith Wilkes, Nate Weidman, Sherrie Hahn, Mike Spranger, Dawn Spranger and Brian Slinkman joined forces to build one of 15 sculptures in the event. Keith Wilkes organized this activity for the Rapids office, as he is involved with the Humane Society. Looks like it was fun! I've seen ice scultpures before but never a block of snow that big. Some snow sculpture participants probably struggled with "what should I carve?" The gang here sculpted what they know - houses. Good job to the Wisconsin Rapids office and the First Weber Foundation. This goes to show you can certainly have fun while doing a good deed.
Thursday, February 4. 2010
Virtually no home value in Wisconsin has been immune to the economic downturn, or as I more light-heartedly heard it called, "global bummer." However, the worst may be over and if you have been reading the First Weber blog for a while we have been reporting many solid months of Wisconsin real estate sales in recent months. Despite that good news, the potential for future foreclosures as referenced in this Real Trends article hints we are not in the clear yet. Good news, bad news. There's lots of hope and Wisconsin real estate expertise are at your fingertips....If you would like information on home values in your area, we have the Realtors to help in just about any Wisconsin city or town you live in. Just ask us!
Tuesday, February 2. 2010
There are several homebuyer tax credit workshops scheduled in the Milwaukee area. If you'd like to learn how to buy a home while there is stilll time to take advantage of this opportunity, you'll need to understand the credit. We are here to help with that. Attend a seminar or ask us a question! View seminar list on firstweber.com and email an RSVP. OR see below: - Thursday, February 4, 7:00 p.m. First Weber Group Brookfield Office 17345 W. Bluemound Rd.
Contact Sheila Mikulich 262-782-3110 Contact Sheila Mikulich 262-782-3110
- Wednesday, February 24, 6:30 p.m. Great Midwest Bank 15900 W. Bluemound Rd., Brookfield
Contact Kristine Nadolny 414-534-3045
- Sunday, March 7 , 2:00 p.m. Complete Mortgage N64 W24678 Main Street, Sussex
Contact Bill Siok or Rebecca Mattano 262-646-6800 There's also information here at firstweber.com and here from the National Association of Realtors on the tax credit. If a seminar is convenient for you and you're curious, please stop by. Reservations are requested.
Wednesday, January 27. 2010
Congratulations to Amy Curler of First Weber's West Bend office on the personal writeup on jsonline. In addition to selling real estate, Amy works with teens and has traveled to assist with Hurricane Katrina rebuilding projects. There's more to the nice story here. Good job of giving back, Amy!
Tuesday, January 26. 2010
 Year end Wisconsin real estate sales numbers are being reported and Wisconsin Realtors gear up for a strong spring selling season. Here is another helpful article in the Northwestern Newspaper in Oshkosh, Wisconsin which discusses the many advantages of buying a home this spring before the expanded tax credit expires.
We at First Weber do try and educate those interested in Wisconsin real estate with articles here at our blog. (And thank you for reading!) We provide a ton of information on properties and the home buying process at firstweber.com. However, perhaps the best way to get going fast is to connect with a Realtor and have a personal conversation. We don't bite, really! You can contact any First Weber Realtor off FirstWeber.com or just let us know if you need help selecting a Realtor. We are here to help you buy and sell Wisconsin real estate. It's our job. How can we help you today?
Friday, January 22. 2010
Looking for a great start to 2010 in Wisconsin real estate! 400 First Weber realtors and more than 100 managers attended First Weber's annual retreat in the Dells this week with 3 national speakers and lots of networking. Congratulations to the many First Weber agents who invested in their careers by attending. Your clients and customers will benefit from what you learned! In addition to speakers, there were announcements and other events. 1. A news spokesperson for the First Weber Foundation was named - Suzy Favor Hamilton, an agent with us and a former Olympian. 2. The First Weber Foundation announced a contribution of $2500 to the Haitian relief fund. In addition to that money, a silent auction was also held which raised an additional $3500 for the relief fund. Thank you to all who participated to help out. 3. A sneak peak of the new Firstweber.com was given on this project that's coming late spring/early summer. We hope our blog readers and website users will enjoy the improvements to come. One last note - WOW, is the Wilderness Resort a giant, beautiful place. The adjacent Glacier Canyon conference center overlooked beautiful, hilly terrain of the Wisconsin woods. We even saw deer walking in the snow during our conference. It was time well spent and this writer left inspired! Thanks for reading! Remember, if you have a real estate question, please drop us a note in the comments or ask a question.
Tuesday, January 19. 2010
Milwaukee and Madison, Wisconsin were both ranked among the top 20 metro areas for business, according to a survey by MarketWatch.com (as reported in the Dec. 16 BizTimes Daily at BizTimes.com) The survey ranked 101 metro area on 10 metrics each including the number of companies per capita to determine a company concentration score; also looked at were the employment picture, growth and economic stability. Madison scored 12th, with high scores in economic stability. Madison has seen growth in private sector technology and biomedicine at the University of Wisconsin. Milwaukee scored 20th, with high scores for company concentration. Milwaukee is home to such global companies as Harley Davidson Inc., Johnson Controls Incc., Manpower Inc., Rockwell Automation Inc., Northwestern Mutual Life Insurance Co and more. Sweet!
Monday, January 18. 2010
Meet a guy who knows a lot about Racine real estate.... In his own words, "I have been in the real estate business for a really long time!" He is John Crimmings, Vice President and co-owner of First Weber Group Southern Wisconsin. John shares his knowledge in a great post on his blog specific to Racine entitled "2009 Year in Review". You can read the whole article here. I can assure you, if Racine real estate interests you, you will find John's blog useful. Even if Racine is not what you are looking for, there is information to learn. For example, John explains "absorption rates" which basically means the number of months it takes to absorb all current real estate inventory in a particular community given the current sales activity level. Below are some of John's findings on Single Family Residential homes in Eastern Racine county: 2008 4th quarter: 13.6 months of inventory 2009 1st quarter: 17.2 months of inventory 2009 2nd quarter : 11.3 months of inventory 2009 3rd quarter: 9.7 months of inventory 2009 4th quarter: 8.4 months of inventory We're going in the right direction! "Normal" absorption is considered 6 months.
Nice writing, John!
If there is a specific city you would like absorption rates on, please send us a comment.
Thursday, January 14. 2010
Central Wisconsin Housing Trend For 2010 Article provided by Ron Zahrt, President of First Weber Group Northern Wisconsin Single family residential home sales are showing signs of a recovery from prior year’s sales. Overall the real estate market showed a significant gain over 2008 4th quarter sales in the last quarter of 2009. Single family residential homes sales for the 4th quarter in the Central Wisconsin MLS for 2009 were 711 units compared to 569 homes sold in the 4th quarter in 2008. This amounts to a 137 gain in homes sales or almost a 25% gain in single family home sales for this time period. Much of this increase can be attributable to the housing stimulus package for first time home buyers that was scheduled to expire on November 30th of 2009. Since then the housing stimulus has been extended by Congress until April 30th of 2010. It has also been expanded to allow participation by some individuals who own their current home. This will allow housing sales to continue to get better as 2010 progresses. Full year statistics from the Central Wisconsin Multiple Listing Service* show home sales in calendar year 2009 for Central Wisconsin were up slightly over 2008. The numbers of homes sold in the area served by the Central Wisconsin Multiple Listing Service; (Marshfield, Stevens Point, Wausau, and Wisconsin Rapids) were up from 2743 in 2008 to 2767 in 2009. While is may seem an insignificant gain, an increase in the number of sales creates a positive attitude toward the housing market. The fact that there is a gain in number of homes sold after a very slow start in 2009 points to a housing recovery taking place in central Wisconsin. Housing activity in the market in 2010 is up substantially from the same period in 2009.
What will the year 2010 bring then? The Federal Tax Stimulus is in place until April 30th, fixed rate interest rates are very low, and a large inventory of homes is currently available. This may be the most advantageous market in a long time to either sell a home or purchase a new one. One may ask? If home prices are a somewhat depressed, why make the move now? If you are not now a homeowner, homes prices right now are probably at the low point they will be for some time. Combine that with the First Time Home Buyer Tax Credit and it is a great time to buy.
If you are a current home owner looking to step up, you may sell for a somewhat lower sale price than in prior years; however, you may be able to make up the difference or more on the purchase of your next home. This is a great time to move up to the home that you want. Add this with the fact that many step up buyers may also qualify for a Federal Tax Credit, now is the time to be looking for your step up home.
What’s my advice about buying or selling a home this year? Talk to your local lender, your tax advisor and call a REALTOR.
Home buying activity traditionally picks up as we move further into the year. Interest rates are traditionally at their low point in the year during this time period, inventory is very good and the Federal Tax Credit remains in effect for the first quarter of 2010.
This may be the best time in years to buy that home you’ve been waiting for.
* The statistics in this article are obtained from the Central Wisconsin MLS database and neither the MLS nor the author represent that this encompasses all sales in the area.
Tuesday, January 12. 2010
Similar to today's Metro MLS statistic blog post on the First Weber blog, an article today on jsonline states home sales were up, but prices were down. It pictures a First Weber agent, Lauren Siegel, and features quotes from numerous Milwaukee Realtors on what's happening and what they expect in 2010. If you're looking for viewpoints on Milwaukee real estate from a variety of agents and different companies, please take a look at this article which also quotes First Weber Executive Vice President Tammy Maddente. Please think of First Weber Group when you think Wisconsin real estate!
Monday, January 11. 2010
Hot off the press - the year end Metro Milwaukee MLS stats are in. Overall, the metro MLS sales were up 5.9% over 2008. That equals 14,321 homes and condos sold versus 13,523 in 2008. If we do county by county, the overall results are positive. Milwaukee County real estate: Sales up 11.3% over 2008. In 8 out of 12 months, 2009 sales beat 2008's Waukesha County real estate: Sales down a mere 1.9% compared to 2008. In 5 out of 12 months, 2009 sales beat 2008's, including a 70% gain in November. Ozaukee County real estate: Sales were up 1.4% over 2008. In 5 out of 12 months, 2009 sales beat 2008's, including a 63.9% gain in June and 118.9% gain in November. Washington County real estate: Sales up 1.7% over 2008. In 5 out of 12 motnhs, sales beat 2008's, including a 114.3% increase in November. Racine County real estate: Sales were down just 1.1% compared to 2008. Racine had 6 months in 2009 in which more real estate was sold than in 2008. Racine Country real estate showed a great December with an increase of almost 20% over last December. Home prices were down, but not a tremendous amount. The price drop is said to be mostly a result of the sale of starter homes or those on the lower end of the price bracket which brings down the average sales price. There's no telling what is in the future for Wisconsin real estate in 2010, however, we expect a solid spring thanks to the extended and expanded home buyer tax credit. To qualify, a binding offer to purchase must be in place by April 30, 2010. The property must close by July 1st. Are you thinking of selling? Buying? Check out this tax credit information. And here's is a Job Loss Protection program a First Weber seller can offer to a potential buyer to help close the deal. We hope you choose to work with First Weber in 2010. Thanks for reading.
Monday, January 4. 2010
An important thing to talk about with your real estate agent: The highest priced offer to purchase may not always be the best offer. Why would that be? Several factors come into play such as home sale contingency. Is the offer price really nice but contingent on the sale of the buyer's current home? That other home could take a while to sell. Offers contingent on a home sale are common, yet should be considered carefully. What about the closing date? A buyer who can close quickly means you have less months of mortgage payments to make on your current home. Sellers, your First Weber agent can talk you through the pros and cons of each offer. And buyers, the two scenarios above maybe of value to you. Talk with your buyer's agent for help in making your offer to purchase as strong as it can be. Dian Hymer's article on Inman News Dec 18, 2009 bought this excellent topic to mind. Thank you for reading the First Weber blog and let us know if you have any Wisconsin real estate questions you'd like answered!
Monday, January 4. 2010
Home values have fared better in the Milwaukee area than other metro areas in the country according to RadarLogic and BizTimes.com which provides a nice synopsis of the statistic-heavy RadarLogic report. Read the whole BizTimes article here. (You'll have a scroll to the second story) Highlights include: Milwaukee has the lowest price decline of all 25 metro markets that are tracked. Milwaukee also had the number two spot for five year price increase; 2%. Denver was the only metro area that posted a sales price increase over 2008. That is encouraging news for Milwaukee. Let's hope for continued positive Wisconsin real estate news in 2010. Happy New Year from First Weber Group!
Tuesday, December 29. 2009
This graph above and data below shows the number of listings for sale/ number of sales and the length of time in months that it would take for the current inventory to be absorbed or sold under current market conditions. These numbers show Wausau, Wisconsin Single family homes priced from $100,000-$150,000. You can see the number of months of inventory is declining and homes are selling faster than they have in recent years. The lower the months of inventory go, the more it becomes a seller's market. | Year/Quarter | 2008- 1st | 2008- 2nd | 2008- 3rd | 2008- 4th | 2009- 1st | 2009- 2nd | 2009- 3rd | | On Market | 98 | 131 | 143 | 121 | 116 | 144 | 132 | | Sales | 29 | 42 | 48 | 32 | 25 | 30 | 53 | | Months of Inventory | 10.1 | 9.3 | 8.9 | 11.3 | 13.9 | 14.4 | 7.4 |
We hope you found this information useful. If there is a Wisconsin city you would like information on, please leave a comment and we will do our best to provide the information. Thank you for reading the First Weber Blog.
Tuesday, December 29. 2009
The Wisconsin Realtors Association released third quarter 2009 data showing a statewide gain in home sales of 5.8% over last year. If the pace holds, the WRA estimates more than 90,000 homes will be sold in Wisconsin this year - an increase of approximately 5,000 from a year ago. The wellness of the Wisconsin housing market affects all Wisconsin homeowners, even if they are not in the market right now. What your neighbor's house sells for may have an effect on what yours sells for. While more homes are being sold is good news, prices are still on the low side in most cases. You can sign up to receive emails on homes similar to your own with a MyFirstWeber account if you'd like to keep track of the market just for informational purposes. If you are a buyer, ou may also use the same link to sign up to be notified via email of new listings matching your criteria. First Weber has been reporting positive news here for the last five months to drive interest in home buying at this historical time... if more first time home buyers enter the market, move-up buyers also can do just that, move up. Despite the trend to increased sales, sellers should realize that the market is certainly not "back to normal" or a seller's market. Yes, you may sell your home for less now. However, you may also buy for less as well. We hope you enjoy receiving these updates on the Wisconsin real estate market. For information on specific cities in Wisconsin, please make a request as a comment. Happy New Year!
Tuesday, December 29. 2009
The new year is fast approaching and we sure hope 2010 will be a more stable year on many fronts. The extended and expanded tax credit should keep Wisconsin real estate sales going relatively strong, just like the tax credits made for a strong fall Wisconsin real estate market which we talked about for Dane County, Metro Milwaukee and Wausau. We are here to help should you want to learn more about the credits and buy or sell a home in 2010. Now on to new year resolutions.... Not personal resolutions, but "Residential Resolutions." For ten ideas on making your home more organized and more of a personal haven, please see this article from jsonline on home organization. The highlights are: 1. Be responsible: recycle 2. Be frugal: Sell unwanted gifts or unused household items. 3. Be generous: Donate unused household good to charities. 4. Be tidy: set up systems for storage and organization. 5. Be discerning: Do you REALLY need that new gadget? 6. Be inclusive: Get all household members involved with your resolutions. 7. Be mindful: Check smoke detectors, etc. 8. Be heath conscious: Choose products that have a lower impact on your home environment. 9. Be aware: Think of the environment - recylce materials, use fluorescent blubs, choose Energy Star appliances. 10. Be prepared: Plan ahead for next year by checking sales on holiday decorations now. The article, written by Nancy Herrick, may not appeal all, but it was a useful article for me and I hope you enjoy it. Thanks for reading the First Weber Wisconsin real estate blog. And Happy New Year!
Tuesday, December 29. 2009
Written by Scott Swick Did you know that, according to real estate law in Wisconsin, if you call a Realtor and ask her to show you homes…and you do not enter into a “buyer’s agent” contract with her… she is legally representing the seller? As the seller’s agent, she is obligated to help that seller get the highest price she can. If that is the case, how do you as a buyer know you are getting the best home at the best price? There is an answer to that question, and it is by asking your Realtor to be your buyer’s agent, and she will write up an agreement that obligates her to now work for you, not just “with” you. Let me ask you a question from another industry: do you want a lawyer to work WITH you or work FOR you if you were in some legal difficulty? Assuming you would say “For you,” it works the same way with a Realtor. The Realtor who shows you a home is obligated to get the best price for the seller. But if you hire her as your buyer’s agent even before she shows you homes, she is now working for YOU. And that is a big advantage when you want to get the best home at the best price. So what can a buyer’s agent do that a Realtor who just shows you homes can’t? The first thing a buyer’s agent will do for you is to find all the best homes at the best prices. She can look up how long each has been on the market. The longer it sits, the more negotiable the pricing may become. She can find out the listing history of what price the sellers started at compared to what it is now, and pull the tax assessment to see how that compares to the asking price. And she can find homes that are outside the local MLS, such as For Sale by Owners, Foreclosures, or listed in another MLS. Many of these you won’t find on websites. Once you start looking at homes with her, she can point out problems she sees: some repair needed, and background information that might affect your happiness with the home. But the best thing a buyer’s agent can do is NEGOTIATE for you. The buyer’s agent can pull market sales data to compare each home you are looking at to set the price you ought to offer. Using her expertise, your buyer’s agent can develop a strategy of offers and/or counter-offers to help you get the best deal, the best terms, and other details, such as who pays the closing costs. After you get an accepted offer, the buyer’s agent will go with you and the home inspector to the home inspection, and help negotiate any additional concessions based on the condition of the house. Your best interests are central to a buyer’s agent. And the best part of it all is that for almost every home sale, the seller will be paying the buyer’s agent’s professional fee. It almost never costs you more to hire a buyer’s agent. Ask your Realtor to be your buyer’s agent and get the best deal you can. The buyer’s market window will be closing and now is the time to act.
You can search for a buyer's agent here on our Find a First Weber agent page
Tuesday, December 22. 2009
We've talked a lot about the First Time Buyer tax credit and the newly expanded tax credit available to current homeowners. This credit expires in April of 2010. When you run the numbers and look at the low property prices these days, making a move now could really make sense for you whether you are moving up to a larger home, or downsizing. This article from Realty Times reminds us that the tax credit can be used for those downsizing . Is a move in your future? Are you tempted to move? Even if you are not in the market, checking out firstweber.com is a good way to see what homes like yours are going for these days. We hope to assist you when the time to move comes.
Friday, December 18. 2009
"Dane County Home Sales More Than Doubled in November From Year Ago"
Madison Capital Times (WI) (12/16/09) Novak, Bill
South Central Wisconsin MLS data shows that Dane County home sales soared 111 percent last month compared to November 2008 as buyers scrambled to get their homes purchased before the federal tax credit incentive was to have expired. The year-over-year sales gain marked the fifth consecutive month in which Dane home sales were better in 2009 than in 2008. As a region, South Central Wisconsin home sales jumped 81.7 percent in November versus the same month a year earlier. Nevertheless, the number of homes for sale lags behind 2008, with 4,336 homes on the selling block as of Nov. 30 in Dane County -- an 11.8 percent decrease. It should be noted that almost 60 percent of the residences available for sale in south central Wisconsin were priced under the $200,000 mark. Taken from the Realtor Newswire Weekly put out by The Wisconsin Realtors Association.
Wednesday, December 16. 2009
How big does a house really need to be? Some of us are fortunate to live in spacious houses with 10 rooms, multiple bathrooms and closets that are large enough to be considered a room (I am not included in the "some" here). Others live in more modest homes under 2,000 square feet. Whatever your situation, Wisconsin has a huge variety of housing styles, sizes and price ranges to fit all needs. I am not sure if there are any "Tiny Houses" in Wisconsin, but I think they are excellent. Check out the pictures and floorplans of some Tiny Houses from the Tumbleweed Tiny House company. Could you ever live in one of these homes? Does anyone know anybody who has built one of these small homes in Wisconsin or elsewhere? I would love to put one of these on our land in Wisconsin Dells. I like them all - from the log cabins to the ultra modern. Check out this website and tell us your favorite. And please comment if you know of a tiny house in Wisconsin like these examples. Thanks for reading and appreciate your Wisconsin home, no matter what its size!
Wednesday, December 16. 2009
First Weber has talked about the extended and expanded home buyer tax credit. We hope you are aware there is now a credit available to current homeowners. Of course, a credit is also available to first time home buyers. But "first time" in this case does not mean "first ever". You may qualify even if you have owned a home before. The following is off the HUD website and describes, for the purpose of this credit, what a first time home buyer is. "A first-time homebuyer is an individual who meets any one of the following criteria: - An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This includes a spouse (if either meets the above test, they are considered first-time homebuyers.
- A single parent who has only owned with a former spouse while married.
- An individual who is a displaced homemaker and has only owned with a spouse.
- An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
- An individual who has only owned a property that was not in compliance with State, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure. "
Thanks, HUD, for that information! My guess is that there are many who did not know that "first time buyer" was such a flexible term in the case. Did you know? Are you thinking of taking advantage of the credit? It expires April 2010. More info at firstweber.com
Wednesday, December 9. 2009
Impressive! First Weber Group's 2009 United Way campaign raised $29,247 in total agent/employee/corporate donations with an additional $3,484 coming from Oshkosh, Prairie du Sac, Rome Lakes, Wisconsin Rapids, Wausau Grand Avenue, Wisconsin Dells and Metro South for a statewide total of $32,731. That is fantastic, especially in this economy. That participation won First Weber some awards, too: Red Feather (largest increase in employee giving) 3rd place in organizations with 100+ employees Community Chest Award (largest increase in employee and corporate giving) #10 in organizations with 100+ employees Best Practices Award (given to organizations that execute all of the 10 best practice strategies and have an overall increase in giving) Award of Distinction (campaigns that increased 25% this year) The United Way of Dane County met their 2009 campaign goal of $16.5 million to help those in Dane County. We're happy to be a part of that goal.
Thursday, December 3. 2009
Travis, a reader of the First Weber blog, asked us a question on December 2, 2009: "I closed on a home in May of 2008. I received a 10% first time homebuyers tax credit. Since this they have released a tax credit that states it does not have to be payed back in any way. I have not found any information on mine to see if they had different terms applied. Do you know anything about this?" Thank you for this excellent question. An article updated on November 24, 2009 on irs.gov states: "For 2008 Home Purchases The Housing and Economic Recovery Act of 2008 established a tax credit for first-time homebuyers that can be worth up to $7,500. For homes purchased in 2008, the credit is similar to a no interest loan and must be repaid in 15 equal, annual installments beginning with the 2010 income tax year." There is no mention of any change to the repayment requirement. You can read the entire rules straight from irs.gov here. The repayment is explained here, also from irs.gov You should also consult with your tax advisor. If you have a real estate question, please let us know.
Wednesday, December 2. 2009
Do you decorate the outside of your house/your yard for the holidays? White lights or colored? Less is more - or the more glare the better? Are you one of theose people who plan ahead and put the lights up when it is actually warm(ish) out, or do you always end up in the cold? Our Wisconsin neighborhoods look so pretty lit up on a dark snowy night, in my opinion. Whatever your opinion, enjoy this holiday season and maybe enjoy a new house next year. Looking now and in January means closing before the April deadline should be no problem. There's more information on the extended tax credit here. It's not for first time buyers only anymore! But, that is a post in itself so stay tuned. Thanks for reading.
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