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Wednesday, July 30. 2008

First Time Home Buyers - important ... Posted by Katie Huebschen, Admin FWG blog in Buying & Selling, Northwoods Wisconsin real estate at 16:42

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First Time Home Buyers - important news for you!

Did you hear the Housing Recovery Act has passed? Do you know what it means?

It is important news effecting first time homebuyers - they purchase 39% of the residential real estate in America. The first time home buyer is the ENGINE that drives the residential real estate market, and for Congress and President Bush to target this group with a substantial tax credit to reward their investment in real estate makes PERFECT sense. The credit should help restore confidence in the real estate market and the economy in general.

Combining this tax credit with historicaly low interest rate and a large inventory of available properties arguably makes the second half of 2008 and first half of 2009 (credit ends July 1, 2009) the BEST time in recent histoty to buy a home. 

Click here for pdf of the First Time Home Buyer Tax Credit

What do you think about that?!

 

Friday, July 25. 2008

99% of Milwaukee, WI households are ... Posted by Katie Huebschen, Admin FWG blog in Northwoods Wisconsin real estate, Wisconsin real estate news at 13:49

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99% of Milwaukee, WI households are NOT in foreclosure.

Traditional media such as newspapers and TV are supposed to inform.  Most media outlets seem to only report bad news, or at least there seems to be more bad news than good.  When the opportunity comes to put a positive spin on a bad fact, the media just doesn't do it.  So we are left to try and do it ourselves and hope we make a point with readers who are online and looking at real estate.

What we are talking about is the screaming headlines about foreclosures up 79%, 121%, 89% etc. etc. etc. While it is the sad truth, screaming disaster like that is not helping the housing market get any better. Why not look at those numbers a different way like foreclosures in Wisconsin amount to only 1.017% of households?! Or 99% of households are NOT in foreclosure. That is the truth too.  (Milwaukee, per RealtyTrac.com) Encouraging people to buy homes at historically low rates and at lower prices would help the housing market.

Only 1% of households in Milwaukee are in foreclosure.  99% are not.  Don't be afraid if you are thinking of jumping into the market.  Get a good REALTOR and a good Loan Officer, buy within your means, stay put for a few years, pay your bills like any responsible person would and be one of the 99%.

Ready when you are!

Tuesday, July 22. 2008

surevy says... market improving Posted by Katie Huebschen, Admin FWG blog in Buying & Selling, Northwoods Wisconsin real estate at 17:16

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surevy says... market improving

National survey of real estate brokers in the Leading Real Estate Companies of the World (which First Weber Group is a part of) shows market improvements in 59% of respondants.  Yipee!! You can read the whole article here.

Tuesday, July 22. 2008

reader question Posted by Katie Huebschen, Admin FWG blog in Buying & Selling, Northwoods Wisconsin real estate at 16:11

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reader question

Reader Question:
If a lakefront home built in Gordon WI on Crystal lake in 2000 was assessed at $395,000 would it seem odd to you that 8 years latter it was assessed at only $485,000? In 2007 it recieved a new 22X32 Garage- sauna- and electric heated three season porch that faced a great view of Crystal Lake. The cost of this new construction with all cedar outside & white cedar inside as well as cedar siding on a detachted 2 car garage to match house and new building was $74,000. It would seem to me that our appraiser thinks this house has appreciated only .125% over 8 years. My sister is looking at buying this property, and I would like to sell. Does this sound like I may need another opionion from you or someone else?
First Weber answers:
It sounds like the assessor may have increased your assessment only by the amount of the improvements you made to the property in 2007.  If other properties in your township have not been reassessed, the assessor would not change your value other than to increase it by the amount stated on your building permit.  
 
The assessed value on your tax bill is just an estimate used by the assessor to allocated taxes.  This value can be higher or lower than actual market value.  To find out what the current market value is you would want a local realtor to do a market analysis or get an appraisal. The market analysis or appraisal will use recent sales to determine the current value of your property.
Sandy Ebben
Vice President
First Weber Group
If you have a real estate question, please submit it and we will do our best to provide an answer.

Tuesday, July 15. 2008

10 facts about the Wisconsin real ... Posted by Katie Huebschen, Admin FWG blog in Northwoods Wisconsin real estate, Wisconsin real estate news at 17:06

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10 facts about the Wisconsin real estate market

Great article on ten facts you should know about the Wisconsin real estate market from WRA and First Weber agent Pamela Meller

Are you in the market?  We are all over Wisconsin so when you want to make your move, please contact First Weber Group.

Thursday, July 10. 2008

Would you like to see this type of ... Posted by Katie Huebschen, Admin FWG blog in Just for fun, Northwoods Wisconsin real estate at 19:50

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Would you like to see this type of condo project come to Wisconsin

I wonder how a condo project like this would sell in Wisconsin... independently revolving floors, different views at different times of day.  (Read the original post and additional artcles at the sellsius blog)

Pretty well probably - changing views ...it is just too cool not to like! (in my opinion).

What do you think?

I learned of this project at real estate undressed who found it at the popular blog sellsius.  Read the original post and additional artcles at the sellsius blog

Thursday, July 10. 2008

PMI Housing Mortgage Review June ... Posted by Katie Huebschen, Admin FWG blog in Northwoods Wisconsin real estate, Wisconsin real estate news at 16:44

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PMI Housing Mortgage Review June 2008 shows positive for Wisconsin

According to PMI Housing Mortgage Review June 2008:

House value change 1st quarter 2008 vs 1st quarter 2007

U.S. average:          -3.07%

Worst: California      -19.14%

Best: North Dakota     6.56%

Right in the middle: WISCONSIN  at 0.23%

It's not much, but at least it is a positive number. 

Thursday, July 10. 2008

Findings contradict media's skew Posted by Katie Huebschen, Admin FWG blog in Buying & Selling, Northwoods Wisconsin real estate, Wisconsin real estate news at 15:52

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Findings contradict media's skew

Findings contradict what the media is perpetuating. A study done by Architectural Digest and Sotheby's results in a really positive article about how holding real estate creates wealth.  Interesting that 50% of respondents in the survey say they believe the media exaggerates conditions to make the market seem worse than it is. 

I read a different article once about how real estate companies had to "be the media" to paint an accurate picture and help people understand that the sky is not falling. That's what we are trying to do with this blog.

Your comments are always welcome.

Thursday, July 3. 2008

Wisconsin residents, watch out for ... Posted by Katie Huebschen, Admin FWG blog in Northwoods Wisconsin real estate, Wisconsin real estate news at 15:05

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Wisconsin residents, watch out for this new scam

This is not related to real estate, but we should all share things we learn that could help one another.  We all know about the Nigeria email scam, there was a new Yahoo UK one in my in-box today. Some scams you can smell from a mile away.

I recently got several messages on my phone that I disregarded as just junk, but looks like they really were attempted scams.  If you get a message from a credit card company saying "your account is fine, but we can lower your rate if you press 1" or something along those lines, you will be contected to a live operator who can "help you" with that.  SCAM!  Obvious to some, but tempting for some... Just be aware and read the whole article here at biztimes

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