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.
Oshkosh was chosen as the best place in Wisconsin to raise children according to a Business Week study. Eau Claire and West Allis, Wi were runners up.
Municipalities with populations of 45,000 residents minimum were considered. These are some of the factors used to determine the winners: School, crime, air quality, diverstity and more. The entire article listing each state can be found here.
There are lots of great places in live in Wisconsin and a ton of great Wisconsin communities too small to be considered in this study. I live in Waukesha and revitalization of the downtown area to include an artist community is one thing I really like. They have Art Crawls to draw people downtown to the art galleries and shops. There is an Art Crawl this Saturday, December 5th. I'll be there...What do you like about your Wisconsin community?
The demand for smaller homes is growing. Census Bureau data shows that in 2008, the median home size shrank from 2,277 sq ft to 2,215. (That's still bigger than my house!) This is the first decrease in median size in almost 14 years. In a poll done by the National Association of Home Builders, 9 of 10 builders would be building small houses as a result of this trend. Not only are people trimming the excesses of previous years for financial reasons, but the smaller homes seem to fit in better with today's environmental/green movement. Original article by Hanah Cho, Baltimore Sun
It will be very interesting to see if this trend continues in Wisconsin real estate. What do you think will happen? Is your home larger or smaller than the median size?
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.
Wisconsin Rapids Holds a Tasty United Way Fundraiser
On Tuesday, Oct 20, the Wisconsin Rapids office held a taco lunch to benefit the United Way. Annette Schmidt was the coordinator of this event and did a great job, others from the office donated to the event and worked at the event! $454 was donated to the United Way from this event. Many hands make light work!
I read with anticipation a list of America's top 10 cool small towns, thinking Wisconsin surely would be included. Alas, no Wisconsin town in that list/slide show. I have not personally checked out all the towns on the list, though I would love to - they do look pretty great. (The link to the slide show is here. Compliments of bing and msn.com)
If they extended the list to top 11, which Wisconsin small town would you suggest be added and why? Don't forget the "why"!
My vote would be for Mineral Point, Wisconsin and the why is because of the artist community and the history in the town.
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.”
Have you ever thought how long you'd stay in your current home? Could you "age-in-place" there? If you have made renovations such as walk-in showers, wide doors, or levers instead of doorknobs your home may be more appealing to the baby boomer generation (77 million people) if you decide to sell - and easier for you to live in as you age if you are staying put.
There are not too many articles written on this subject. Here is a good one from Realty Times. Hope you find it interesting as well! This article was tweeted by First Weber on Twitter, too. We'd love to have you follow us.
If you are a home seller in Wisconsin, this article may be of interest to you. Let us know what you think. Scott Swick of First Weber writes about myths and opinions below:
In today’s uncertain real estate market, fear runs rampant.Many sellers are listening to the national media and coming to the conclusion that it is a bad time to sell their home.But like most myths, these need debunking. Here are five myths sellers tend to believe.
Seller Myth No. 1:“Now is the worst time to sell your home.”
Real estate is local. It depends on where you live. Many of the worst hit markets, like Phoenix, Las Vegas, Los Angeles or Miami, are already turning around and are experiencing huge sales increases. Here in Fond du Lac County, we saw home prices drop only 2.6% last year.If you are a homeowner who wants to trade up to a new home, the lower price you might get on your current home will be more than offset by the bargain you’ll receive on the next one.Don’t measure your financial status by what your home sells for, but by the net gain or loss of the sale of your existing home PLUS the purchase of your next home. It almost always works out in your favor.
Seller Myth No. 2: “Never respond to a low ball bid.”
Right now, it’s true that you are going to see more low ball offers than we did a few years ago. And today, with all the stories in the media, buyers today almost feel obligated to put in a low ball offer to see if the seller will bite. But if you respond with a reasonable counter offer, most buyers can be convinced to come up in price and make the deal.I have a philosophy at our office with all our real estate professionals, “As much as it depends on you, don’t let the offer die in your client’s lap.”Always come back with a counter offer. You will be surprised at how many times they other party stays in the negotiation and you finally come to common ground and a deal can be made. Never let it die in your lap.
Seller Myth No. 3: “The first offer is never the best offer.”
While the first offer may not be the best offer, what is really true, 4 times out of 5, is the first buyer is the best buyer.A lot of sellers believe that it’s smart to hold out for someone better. But the first buyer is most likely going to finally agree to the highest price you’ll ever get for your home. That’s because 75% of the prospective buyers are going to come to your house in the first 30 days you listed it. After you walk away from that buyer who actually made an offer hoping you’ll get something better, the other prospects have walked away too and gone on to another home…and probably written an offer on it.
Seller Myth No. 4: “I can always reduce my price later.”
Sellers often want to price their home high for a few weeks just to test the market. But buyers shop by price bracket and if your house is in the wrong one, you’ll just help sell everyone else’s home while yours sits there…overpriced.Reducing your price later in small increments puts you in the position of chasing the tide as it goes out. We can spend a million dollars to advertise a home, but if it’s not priced right, it will not sell. We need to wake up that this is a buyer’s market. Unless you are willing to wait a year or so to sell your house, price your home to sell within the next 4 months or less. Because if you price it too high, the only house that will sell is your neighbors’.
Sellers Myth No. 5: “I have to have my home sold before I can buy or build a new one.”
The fact is that you as soon as you have your home on the market, you should be either making an offer on an existing home, or selecting a builder to build a new one. You can always structure your offer to be contingent on the sale of your existing home if you prefer. If you decide to build, there are a few builders who have financing programs such as a “no payments during construction loan,” or a “commission rebate program,” or a “trade up program” where they will buy your existing home if it hasn’t sold by the time they are finished building your new home. Building has become incredibly attractive this last year. A local lumber company told me last week that lumber prices are the same level we had back in 1977, a 32 year low. With the lower prices we are seeing from subcontractors and suppliers, building a new home is an incredible deal right now.
The buyer’s market window is closing in 2009. Don’t miss out on your chance to move up by buying into someone else’s myth.
By Scott Swick, General Manager, Fond du Lac First Weber Group
Fall has arrived in Wisconsin. Do you have a favorite fall activity? Mine would have to be fall walks. I also love the sound of fall football games at the nearby high school.
There are numerous activities to enjoy and a great website to see for events is Wistravel.com here.
Please contribute your favorite things about fall in Wisconsin. It would be interesting to see the different favorite things across Wisconsin - from our urban areas to rural areas and "up north."
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?
First Weber Group expands into Oshkosh,Wisconsin real estate market in a big way! We welcome Coldwell Banker Schwab, the largest real estate firm in Oshkosh with dominant market share and 40 agents to our Wisconsin real estate team. Dennis and Gail Schwab have been in real estate for over 30 years and have the kind of reputation any company would be happy to welcome - we certainly look for that when expansion opportunities come along. This was a real good match for both companies.
Coldwell Banker Schwab had an interest in providing good technology for buyers and sellers. First Weber provides just that with our Front Runner multi-media marketing for every listing, (great video here, if you have not seen it already) and our numerous inhouse technology systems that provides anything from market share reports to websites to advertising and mailing materials.
Signs are being changed over, the website is being worked on, the many listings will be moved over, the many agents added to our rosters, technology systems and the like. Soon the Front Runner smart signs with texting, multi-media and call capture plus all the other Front Runner features will be available on Schwabs property listings. We are striving for a hassle-free transition to welcome our new Oshkosh connection in the best way possible.
Now, all that transition is not complete yet by any means - the cat got out of the bag a little early. But it is full speed ahead in getting First Weber's newest office running at full First Weber capacity. WELCOME, we're thrilled!
If there's anyone in Oshkosh - seller, agent or resident -who has a question about First Weber Group - read our blog, make a comment, ask a question!
Lakes vary widely in obvious ways - shallow, deep, murky, clear, spring fed etc, but many also have what you could call "personalities."
How do you know which lake is for you? Your local First Weber Group Realtor should be able to give you valuable insight into lakes in the area you're looking at. Like peace and quiet? Like to sail? To fish? Like a very active lake with lots of boating activity? We can help point you to the lake that matches such interests.
Contact us if you're looking to buy lake property in Wisconsin - First Weber has a lot of knowledge to share. If you want to search by map, please do so here. There's a special Northwoods Wisconsin search here as well.
WRA: Wisconsin Housing Market May Be Stabilizing The Wisconsin REALTORS® Association (WRA) reports that the state’s residential real estate market is showing signs of stabilization. The WRA recorded a 10.5 percent decline in statewide home sales during the second quarter, which was well below the steep reductions in Wisconsin sales volume that have been reported over the previous few quarters. WRA Chairman Michael Mulleady comments, “Overall, the reduction in existing home sales of 10.5 percent, comparing the second quarter of 2009 with the second quarter of 2008, was much more moderate than we experienced earlier in the recession where the average decline has been much steeper. . . . This is the first indication that we may be getting ready to turn the corner on real estate in the state.” WRA President William Malkasian added that the new federal tax credit for first-time home buyers has definitely enticed more purchases of so-called “starter homes,” a trend that brought down the state median price. Read the whole article at Milwaukee Business Journal (WI) (08/12/09)As posted in the REALTOR Newswire
By Scott Swick, General Sales Manager, First Weber Group Fond du Lac
We work so hard to help sellers learn to think like buyers instead of like sellers. We help them price their home so buyers will see it as the best deal on the market, assist them in preparing their home for sale so they get the highest price. And we help them get those buyers’ attention.And one of the smartest things a seller can do to get their home sold, especially if they have an older home, is to offer a home warranty.
A home warranty is like putting an insurance policy on your home. It covers many of the things that homebuyers are most worried about: will the furnace fail right after I buy this home? What do I do if the plumbing springs a leak? What happens when the dishwasher stops working?
First-time homebuyers are even more fearful. Because it’s their first home, they worry about getting taken advantage of because of their inexperience. And if you think about it, the first time homebuyers are often buying older homes that might have issues with their electrical system, the roofing might need to be replaced, or some other nightmare.
The basic home warranty policy covers all the mechanical issues: the heating and cooling system, the plumbing system, the electrical system, and the appliances. If they want to upgrade the warranty further, they can get coverage for roof leaks, for additional mechanical items such as hot water heaters or hot tubs, etc.
But the best part of it all is that a home warranty doesn’t just protect the buyer, it protects the seller in two ways.First, the home warranty covers the home as soon as it is listed for sale. If any of the covered items fail during the listing period, the home warranty pays for the repairs.
The second way is that after you sell your home, you have a wonderful peace of mind. You don’t have to worry that something is going to go wrong with your previous home and the buyer is going to get upset and start calling you demanding you fix it, or harassing you if you are reluctant to do so. You know that it is covered with the home warranty.
At First Weber Realtors, our home warranty company, Universal Home Protection, has the basic coverage for approximately $425. Additional coverage for other items are available. That may sound like a lot, but it is nothing compared to the peace of mind it offers. The best part is though that it really helps buyers feel confident about buying your home.If you had a choice between two fairly equal homes, and one had a home warranty and the other didn’t, which one would you choose?
Could you live in a house that was just 9.5 feet wide? Would you be willing to pay almost 3 million for it? Um... don't think so. See the AP article on msnbc.com and nydailynews.com here.
This is the kind of Wisconsin real estate $2.7 million could buy. Quite the difference!
Two good pieces of economic news in one article - and one involving housing. We will take it! Thanks to msnbc.com for the article. Everyone can use some positive news.
Do you have a positive story to share? Sell your house? Decide now's the time to buy real estate in Wisconsin? Please post a comment or a question below.
Thanks for visiting the First Weber blog and have a positive day.
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!
81% of homeowners are optimistic that their home will gain in value or remain stable in the next 6 months according to this article at RIS Media. Are YOU optimistic about the value of your Wisconsin property in the next 6 months? Please make a comment and let First Weber know what you think.
Wisconsin Homebuyers Tax Credit Program shares Positive news for Wisconsin! "Sales jumped 20% of more in Idaho, Hawaii, New York, Wisconsin and Nebraska during the second quarter, when compared to the first three months of the year." Read more here http://cli.gs/LdT6Br
Some welcome news regarding the reasons people are moving comes from Relocation.com . Relocation.com found a dramatic shift when comparing a March 2009 survey with a June 2009 survey.
In June 2009, 50% of people who recently moved did so for "normal" moving reasons like wanting a better home for their needs, be closer to friends and family or desire for a better neighborhood. Moving because of school, job loss, foreclosure or retirement was came in with 3% or less.
In contrast, the March 2009 survey 41% of people surveyed said the recession had a moderate to strong influence on their decision to move.
It is encouraging to see these changes in consumer attitudes. We hope such positives continue to benefit the Wisconsin real estate market! Read more on the articlehere.
The real estate market in Wisconsin seems to be turning around and is on the upswing. How many people are happy about that? The last 2 months in Milwaukee real estate sales have beaten 2008's Wisconsin real estate sale numbers.
Have a great real estate experience with one of the First Weber Group agents? Become a fan of First Weber. Are you on Twitter? If you are interested in Wisconsin real estate, follow First Weber Group at twitter.com
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.
81% of homeowners are optimistic that their home will gain in value or remain stable in the next 6 months according to this article at RIS Media. Are YOU optimistic about the value of your Wisconsin property in the next 6 months? Please make a comment and let First Weber know what you think.
nsin Rapids office held a taco lunch to benefit the United Way. Annette Schmidt was the coordinator of this event and did a great job, others from the office donated to the event and worked at the event! $454 was donated to the United Way from this event. Many hands make light work!
re a home seller in Wisconsin, this article may be of interest to you. Let us know what you think. Scott Swick of First Weber writes about myths and opinions below:
Lakes vary widely in obvious ways - shallow, deep, murky, clear, spring fed etc, but many also have what you could call "personalities." 
This is the kind of Wisconsin real estate $2.7 million could buy. Quite the difference! 
Some welcome news regarding the reasons people are moving comes from 
NAR