Statistics for Single Family Home sales in the Wausau, Wisconsin area from 2004 and 2008 are documented in the pdf below. Thank you to Ron Zahrt, First Weber Wausau, for providing these Wausau real estate statistics.
It is no real surprise that home sales are down in Wausau since 2004. Yet this year's sales so far are pretty close to sales in 2008. Sales also have been noticeably steady in 2009 with less seasonal ups and downs than previous years. The fall real estate market remains good. In fact, if we look at September-October sales for the last 6 years, October 2008 and October 2009 were the only years where sales increased during those months.
We predict a strong finish for 2009. In all of 2008, 1249 Wausau area single family homes were sold. So far (as of Oct 31, 2009) 1010 units were sold. With the extended and expanded homebuyer tax credit it is probable that First Weber Group will end 2009 ahead of last year.
If you have questions relating to Wausau real estate, please let us know.
October was a fantastic month for Metro Milwaukee residential real estate! (November had good news too, but we'll get to that later) These statistics are courtesy of the Metro Milwaukee Multiple Listing Service.
Sales soared 33% over October of last year.
1191 homes were sold MLS wide October, 2007.
1093 homes were sold October, 2008
1464 homes were sold this October, 2009.
The First Time Homebuyer credit certainly had something to do with this. The credit, due to expire November 30, had many buyers scrambling to close by then. Thankfully, on November 7, 2009, the credit was extended until April 30, 2009 with extra time added to close. (That's November's good news so far) Normally, November's sales slow down - a simple seasonal thing. It will be very interesting to see November's sales this year. I am betting they will be strong!
This is all great news for Wisconsin homeowners! If you have Wisconsin real estate market question, please send us a comment and let us know what you are looking for.
Huge news on the Wisconsin real estate front about how the new extended and expanded home buyer tax credit can help out homebuyers and sellers!
One of the most important inclusions in the new tax credit is that it also includes existing homeowners. Up to $6500 is available. As usual, "certain restrictions apply". See more at firstweber.com and nar.com This credit is good on contracts written up to April 30, 2010. There is then additional time to close. See details in the link above.
The $8000 credit for first time home buyers is being extended until April 30, 2009. Thank goodness, because the previous deadline to close was November 30, 2009. The new credit is good on contracts written up until April 30, 2010. Again, restrictions apply so read the facts at firstweber.com and other links you'll find there.
In my opinion, this is fantastic news for Wisconsin home sellers and home buyers, and certainly Wisconsin Realtors as well. If you have questions, please contact us, send a comment or ask a question.
If you just can't wait to start searching for a home, here's a link to our search page!. There are almost 80,000 searchable at firstweber.com - five Multiple Listing Services across the state. If you want Wisconsin real estate, firstweber.com is an excellent place to get it. Contact us when you feel you are ready to proceed and we'll walk you through the whole process.
Will the Home Buyer tax credit be expanded into 2010 and possibly changed to include more than first time buyers? Will letters to the Obama Administration from the Mortgage Bankers Association (MBA), National Association of Homebuilders (NAHB) and the National Association of REALTORS (NAR) requesting a one year extension of the existing credit have an impact? You can read the letter here compliments of RISMedia.
The national organizations make their case for the extension well, noting that approximatley 355,000 homes sales occurred because of the credit. The letter goes on in detail about the economic benefits of a strong housing market. Regardless of if you are "for" or "against" and extension of the credit, this is a interesting read.
While the possibility of the credit extension is a national issue, it would certainly have effects here in the Wisconsin real estate market and beyond. There's an interesting discussion going on about the subject at the northwestern.com And a quote from an article on stevenspointjournal.com states "It has to be looked at as a starting point," said Steve Lane, co-owner of First Weber Group in Stevens Point and a board member of the Wisconsin REALTORS Association. “That first-time buyer enables the house to get sold, and then for the seller to make a purchase, then another seller, and up the line.”
The Metro Milwaukee MLS stats reports included some good news and some bad news. The number of homes sold is up more than 7% over last September. That's the good news. The bad news is the average sales price has dropped to 2002 or 2003 levels. The good news about the bad news is that local REALTORS say the average sales price decrease is a result of more sales in the $200,000 and under starter home price range. Sellers of those homes are now free to buy-up. So that is more good news.
JSOnline did an article on the statistics and you may read it in its entirety here.
Some commentary from the article is as follows:
"In the first-time buyer market there is price competition. Sellers are getting 98%, 100% of the asking price - multiple offers in some cases," said Mike Ruzicka, president of the Greater Milwaukee Association of Realtors. "But if you go up the ladder a little bit - over $300,000 - it's really slow."
Also, REALTORS are hoping that Congress will extend or open up the first time home buyer tax credit. Doing so would continue to spur sales.
"It absolutely needs to be extended and opened up," said Tammy Maddente, executive vice president of First Weber Group.
The uncertainty of an extension may have some buyers still waiting. Bob Larson of First Weber's Waukesha office is quoted as saying:
"They are trying to wait it out to see what will happen, so it's causing a little bit of a pause," Larson said.
As of now, the tax credit does expire and homebuyers must close by December 1. Better get on it if you are serious about buying.
Good luck from First Weber Group. We are here to help!
Spread the word to those who can benefit from the first time home buyer tax credit! Thanks to the Wisconsin REALTORS Association for creating the videos!
The first time home buyer tax credit has done well in many markets in Wisconsin. There is talk of an extension, however, the WRA is not anticipating any announcement until later in the year.
You've heard it many times before. It is a great time to get into a home with the low prices, low interest rates and the tax credit. For those buyers who may be willing and able but perhaps skittish about the economy and their job, First Weber also offers a Job Loss Protection program. Write an offer to purchase with First Weber and we can request in the offer that coverage be provided for you, by the the home seller. The home seller then decides to accept the offer, counter, negotiate etc.
A detailed article on the timeline remaining to get in on the first time home buyer tax credit was written by First Weber's Scott Swick and featured in the Fond du Lac reporter. A definite must-read.
Are you in the process of buying now? How is it going for you?
Home buyers have numerous advantages these days - lower prices, increased selection - and some challenges such as stricter lending. While these changes may make home buying a little more difficult, they also seem more sensible. Think about what you are buying; buy within your means; stick to reputable lenders/mortgage products; treat your property for what it is... a place to live. A complete AP story on the subject is available at msnbc.com
Common sense advice. Our agents are experienced in helping people buy homes no matter what the market is like. If you need help navigating the home buying process, that's what First Weber agents do each day. Let us know how First Weber Group can help you purchase a property in Wisconsin. Do you have any stories to share about your home purchase - then or now?
First Time Buyers must close on the qualifying property before December 1, 2009. If you or someone you know is thinking about taking advantage of the first time home buyer tax credit, now is the time to get serious. Find all kinds of Wisconsin property at firstweber.com and learn more about the tax credit here.
First time buyers can really make a difference in the market and get some incredible buys. Housing affordability is nearly at an 18 year high, according to RIS Media. We hope that you will contact First Weber when you are ready to move. We have offices and property for sale all across Wisconsin and are ready and willing to offer our services!
Start NOW if you are a first time buyer to take advantage of the tax credit. It takes time to find a home you want to buy and when you do, there's paperwork, inspections, financing.... Find your perfect property at firstweber.com and let us know when you are ready to take the step - just don't wait too long!
NAR reports Pending home sales are up for the fifth consecutive month nationally! Affordability is excellent, the First Time Home Buyer Tax credit window of opportunity is narrowing (you must close by November 30, 2009). Think it is going to be a very exciting fall market!
If you're ready to buy Wisconsin real estate, now is a very attractive time. Check out what's available on firstweber.com. Remember, here you will find listings all over Wisconsin, not just our own! Good luck and let First Weber Group know if we can assist you in any way.
« previous page
(Page 1 of 1, totaling 11 entries)
next page » Frontpage
The Metro Milwaukee MLS stats reports included some good news and some bad news. The number of homes sold is up more than 7% over last September. That's the good news. The bad news is the average sales price has dropped to 2002 or 2003 levels. The good news about the bad news is that local REALTORS say the average sales price decrease is a result of more sales in the $200,000 and under starter home price range. Sellers of those homes are now free to buy-up. So that is more good news.
NAR