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Friday, March 28. 2008
Bob Weber, president of First Weber Group Realtors, has been involved in Easter Seals for the past 19 years. That dedication is very impressive. This year he was surprised with an award for "Outstanding Fundraising" from the Easter Seals organization. Congratulations! We are proud of you. As a company, we created The First Weber Foundation to help support Wisconsin charities. Hundreds of agents across Wisconsin donate time and money to causes of their choosing or causes chosen by the First Weber Foundation Board of Directors, of which Bob is also a member of. Together we have made significant contributions to Wisconsin charities. Yes, we are a large company - one made up of thousands of individuals each with their own talents, relationships, friends, interests etc. Real estate, when it all boils down, is all about people helping people. We could not succeed if we did not have people who care. May we help you?
Thursday, March 20. 2008
Traffic is moving right along at our blog - we are averaging over 2,000 unique vistors a month! Glad you have stopped by. Contact us for comments or questions.
Thursday, March 20. 2008
2007 4th Quarter data by county and zip code from the metro Milwaukee MLS system: Milwaukee County: % of asking price very good. Note several zip codes had value increases, most notably 53204 | Zip code | Average price | Price change | # Homes Sold | Average days on Market | % of asking price | | 53110 | $158,200 | -1.49% | 24 | 85 | 97.3% | | 53129 | $209,900 | -8.58% | 21 | 82 | 100% | | 53130 | $235,100 | -.97% | 10 | 65 | 96.8% | | 53132 | $298,900 | 2.82% | 58 | 91 | 95.8% | | 53154 | $239,600 | -1.80% | 44 | 72 | 96.8% | | 53172 | $153,900 | -10.99 | 26 | 93 | 97% | | 53204 | $106,500 | 30.84% | 15 | 74 | 94.1% |
Above is a random selection of zip codes. If you would like information on a different zip, please send us a comment and we can provide the info. Ozaukee County: Ozaukee County real estate showed price increases in many zip codes! | Zip code | Average Price | Price change | Number of homes sold | Average Days on Market | % of asking price | | 53004 | $259,500 | 44.17% | 13 | 128 | 93.6% | | 53021 | $435,000 | 98.05% | 4 | 207 | 87.9% | | 53024 | $336,200 | 28.17% | 27 | 97 | 96.1% | | 53080 | $214,700 | -16.23% | 3 | 123 | 97.1% | | 53092 | $453,100 | -4.85% | 42 | 100 | 94.2% | | 53097 | $667,800 | 30.86% | 12 | 89 | 89.9% |
Above is a random selection of zip codes. If you would like information on a different zip, please send us a comment and we can provide the info. Subscribe our RSS feed for future updates
Thursday, March 20. 2008
If you find architecture interesting, here is some interesting architecture! Worth a look at some very unusual houses around the world. Can't imagine how long some of these would take to sell.
Wednesday, March 19. 2008
Excellent overview article on why now is a smart time to buy - excerpted from a report by John L. Scott Real Estate and reported by RIS Media.
Tuesday, March 18. 2008
Prices are right for first time home buyers or move up buyers, but financing, which in recent years was quite easy to get, is getting tougher. Save your pennies for that downpayment because you are going to need it. While maybe harder for buyers to enter into homeownership, the article below points out some changes that just seem to make good sense. If you are going to borrow, have a down payment, have good credit. Borrow smart, lend smart. Home ownership is a responsibility and one well worth it. From Real Trends email update #987:
"Falling prices in many parts of the country have improved affordability for those interested in becoming homeowners for the first time, but financing the purchase has become a bigger challenge. Lenders, in general, are requiring larger downpayments and higher credit scores, criteria that can trip up first-time buyers. It's typically first-time buyers who have the toughest time scraping together a downpayment. According to the National Association of REALTORS, 45 percent of first-time homebuyers opted for 100 percent financing between July 2006 and June 2007. The median percentage that first-time buyers financed was 98 percent. No-downpayment loans "are still happening, but with a lot more restrictions than before," says Barton Pitts, president of Downers Grove (IL).-based Professional Mortgage Partners. Borrowers today are going to have to verify their income and verify their financial assets to lenders, says Frank Nothaft, chief economist for Freddie Mac, the government-sponsored mortgage agency. A FICO credit score of 660 to 680 is now the minimum most lenders will consider to prove your creditworthiness, he says. Some in the industry figure that many borrowers will need about a five percent downpayment on a typical loan these days. Others are predicting heftier restrictions to entry. According to Guy Cecala, publisher of the industry newsletter Inside Mortgage Finance, a first-time buyer in many markets will soon need even more money down - perhaps 10 percent. "And I think before too long we're going to see it up to 15 percent to 20 percent," he adds.
Tuesday, March 18. 2008
It was a crazy, long and snowy winter this year - and a record breaking one for Madison, Wisconsin. Their snow total as of March 10 was 92 inches, the most they've ever had, at least while someone was keeping track. Milwaukee had 84.5 inches so far...only enough to earn the #4 spot for snowfall in the Milwaukee area. We anticipate a very busy spring as people come to life after this long winter. Come outside and take advantage of the favorable buying conditions. You can get more house for your money these days. Get while the getting is good! Source: NOAA's National Weather Service Weather Forecast office
Tuesday, March 11. 2008
Radar Logic, a company which reports monthly on housing markets in 25 metropolitan areas has just released data for December 2007. It is big news for metro Milwaukee. Of the 25 markets Radar Logic studies all across the country, 4 markets showed an increase in price per square foot over last year, one market was neutral with no change and 20 markets were down. Milwaukee, Wisconsin is not only one of the markets that showed an increase but number 1 in appreciation in price per square foot over last year. Number 1. That's fantastic! In addition, Milwaukee Wisconsin has also held the top ranking three out of the last four months and has shown neutral or better growth since January 2006. Below are the stats for December 2007. Please note Metro Milwaukee is the only Wisconsin market included in the study. This does not mean other Wisconsin markets did not perform as well or better than, just that the data is not included in the report. Source: 28 day RPX index value for each MSA as of 12/31/07, Radar Logic | Rank | Previous Rank | Metropolitan Statistical Area | Price per square foot | % Change | | 1 | 1 | Milwaukee | $112.53 | 4.9% | | 2 | 8 | Washington DC | $229.39 | 2.4% | | 3 | 5 | Charlotte, NC | $95.93 | 2.1% | | 4 | 2 | New York, NY | $286.26 | 1.4% | | 5 | 3 | Seattle, WA | $216.81 | .09% | | 6 | 4 | Philadelphia, PA | $147.36 | -2.0% | | 7 | 6 | Columbus,OH | $91.19 | -2.1% | | 8 | 10 | Chicago, IL | $169.63 | -4.3% | | 9 | 18 | Jacksonville, FL | $114.40 | -4.4% | | 10 | 7 | San Jose, CA | $437.18 | -5.2 | | 11 | 12 | Minneapolis, MN | $143.89 | -6.2% | | 12 | 17 | Detroit, MI | $101.31 | -6.7% | | 13 | 9 | San Francisco | $394.23 | -7% | | 14 | 13 | Boston, MA | $209.83 | -7.5% | | 15 | 11 | Cleaveland, OH | $85.37 | -8.2% | | 16 | 15 | Denver, CO | $133.21 | -8.9% | | 17 | 19 | Phoenix, AZ | $138.76 | -10.3% | | 18 | 16 | Atlanta, GA | $91.03 | -11.3% | | 19 | 22 | Tampa, FL | $120.88 | -13.6% | | 20 | 20 | Miami, FL | $174.13 | -14.4% | | 21 | 21 | Los Angeles, CA | $331.46 | -14.7 | | 22 | 23 | San Diego, CA | $269.96 | -19% | | 23 | 14 | St Louis, MO | $88.71 | -20.3% | | 24 | 24 | Las Vegas, NV | $143.29 | -21% | | 24 | 25 | Sacramento, CA | $172.54 | -23.7% |
It is also interesting to look at the affordability in these major metro areas via the Price per Square foot cost. There are only 6 metro areas with more affordable housing than Milwaukee per the price per sqaure foot numbers in this report. Things look pretty good for Wisconsin, the snow is starting to melt, and pent-up home buyer demand may explode this spring. Act now while the prices and rates are lower. If you like what you read, please subscribe to our RSS feed! Comments always welcome.
Monday, March 10. 2008
Real estate bought and sold in metro Milwaukee in February, 2008: MLS-wide, 808 residential properties were sold Of that total, 476 were in Milwaukee County 216 were in Waukesha County 48 in Ozaukee County 68 in Washington County 135 In Racine County 109 in Kenosha County 61 in Walworth County 62 in Sheboygan County 53 in Manitowoc County
Friday, March 7. 2008
[John Deininger, of the REALTORS Association of South Central Wisconsin) The January, 2008 statistics are now available, and should surprise no one. In a winter of record snowfalls, where we could reach nearly three times the “average” snowfall; and icy roads, where just venturing out is an adventure; one might assume that numbers would be down. The idea of purchasing a home when you can’t look at the roof, (since it’s covered with a foot of snow); or admiring the landscape, (since it’s covered with two feet of snow), can be a real challenge. Unless there is a strong motivation or need to move, most people are holding on until Mother Nature cooperates a little more. Historically, January sales drop from December amounts. Dane County residential sales over the last two years showed drops of 21% and 26% from the prior month, and when you compare those results with the 38% drop this year, you can see how the weather has affected the market. When you look at the entire reporting area for the South Central Wisconsin MLS, the residential market looks very balanced. During January, there were 86 reported sales of properties under $100,000; there were 99 reported sales of properties between $100,000 and $139,999; there were 103 reported sales of properties between $140,000 and $179,000; there were 100 reported sales of properties between $180,000 and $249,000; and 100 reported sales over $250,000. Although the market has slowed, there is activity at all price points. As anticipated, new listings have increased after the first of the year, with some areas doubling the number of new listings boarded in December. While the high inventories create a challenge for sellers, the market remains very attractive for buyers. First time buyers need confidence in the market, and to understand the opportunities that currently exist. People are used to and accept stock market fluctuations that can vary widely, but simply aren’t used to a housing market that does anything but boom. The goal is to educate the public, that although housing is cyclical, they are purchasing a tangible asset that provides shelter and tax advantages. Any investment advisor will tell you not to try to “time” the market, and the same holds true for real estate. The time to buy is now.
Friday, March 7. 2008
Multiple pictures are great for getting a feel if a house is right for you. But nothing beats a real walk through at an open house. You don't have to wait until the local newspaper comes out to find open houses across Wisconsin. Beginning each week, usually by Wednesday, hundreds of open houses can be found at firstweber.com/openhouses Take a look - search by map with your criteria or via form fill-in fields.
Thursday, March 6. 2008
Monday, March 3. 2008
What kind of features would it include? Property video? Text messaging ability? Click to chat with a live person? There are so many new products popping up everyday for use in Real Estate 2.0 it is hard to know which way to turn. We love to hear from our readers so please tell us what you'd like to see. How can we make the real estate search experience better for you?
Monday, March 3. 2008
A few stats compliments of the Wisconsin REALTORS Association web site...
Over the past 30 years home values have risen more than 6% annually. On average, home values nearly double every 10 years. Wisconsin is one of the most stable real estate markets in the Midwest. Wisconsin continues to outperform most other states. Homes sold with the help of a real estate professional in 2006 sold on average for 32 percent more than FSBO sales. 2007 saw a 7% drop in the number of consumers who plan to buy or sell their homes themselves.
Let us know how First Weber can help you in 2008.
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