Wisconsin homesellers:
To sell Wisconsin property in this market, your price must be compelling. And, do not wait. Government projections predict housing prices will continue to fall into 2012. If you are thinking of selling your house in the next 2 years, the time to sell could be now.
Chart courtesy of the KCMblog
If your Wisconsin property is currently on the market, talk to your REALTOR about your home selling strategy.
Wisconsin homebuyers:
Should you wait to buy? Predictions are for prices to fall, so why buy now? Well, predictions are also that interest rates will rise.
chart courtesy of Keeping Current Matters
Any rise in interest rates may wipe out any savings on the home price. See the chart below. Principal & interest costs on a $200,000 mortgage at 4.5% are $1013.37/month. The same mortgage at 6.26% costs $1232.74/month.
Chart courtesy of Keeping Current Matters
A $200,000 mortgage is a $200,000 mortgage – it just COSTS more when interest rates rise. If you are thinking of buying, now is an excellent time to finance your long term investment of a house.
What’s the long term outlook for home prices?
Check out the long term home price expectation in the chart below. Like that upward trend? We do too.
chart courtesy of Keeping Current Matters
For more information on buying and selling Wisconsin real estate, please talk with a First Weber Group agent about what is happening in your Wisconsin community.
Thank you for reading the First Weber Wisconsin real estate blog about why you should not wait to sell your Wisconsin property, and why now is a great time to buy Wisconsin real estate.