Blog

A quick summary:

2012 finished strong ending up 8.8% over 2011 when measuring by average Price Per Sq. Ft. and 11.7 % when measuring by average sale price. There are reports of 15% so I want to clarify that my reports are based on the following:

Residential Single Family Residences under 1 acre in Bend

I exclude the following from the report: Townhomes, Condos, all manufactured homes, lot size over an acre.

Number of sales is up by 17.5% and home size is on the rise again. See table 1

Average sale price as a percentage of original list price remains strong at 95%.

Sale price as a percentage of current list price remains strong at 98.3%. Table 2

There are 7 charts total and 2 tables. Each designed to give a unique perspective of our market. Charts 3 6 and 7 show the most drastic change in my mind but I’ll let you judge them for yourself.

http://www.centralorproperty.com/Central,ORTrends.html

Unless something drastic happens which seems to be increasingly possible these days and if current inventory trends continue, expect 2013 to be another strong year for Real Estate in Bend as the rest of the story continues to be the shrinking supply of inventory… Speaking of which, we’ll take a look at inventory trends next report.

Below is a quick summary. Certainly take a look at the charts to see the trends and historical data to put it all into context.

FYI: last report all trends were up except for number of sales 3^rd quarter over 2^nd quarter

View charts and tables attached to see more detailed reports

Price/sq ft

4th Quarter 2012 over 4th Quarter 2011: UP                  

4th Quarter 2012 over 3rd Quarter 2012  Even                  

2012 YTD over 2011.                                    UP

Home Size

4th Quarter 2012 over 4th Quarter 2011:  UP

4th Quarter 2012 over 3rd Quarter 2012:  UP

Number of Sales

4th Quarter 2012 over 4^th Quarter 2011:    UP           

4th Quarter 2012 over 3rd Quarter 2012:   Down              

Many sources quote Median sale price and/or average sale price. View the tables to see how these values can paint a different picture of the market.

View charts and tables to see other market measures:

http://www.centralorproperty.com/Central,ORTrends.html

The Wisconsin housing statistics are now in for August of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:

The home sale recovery began last summer, and sales have grown 20.7 percent year-to-date. “It’s great to see these sales so strong during the peak sales period in the state.”  said Renny Diedrich, chairman of the WRA board of directors. He noted that in a typical year, about a third of Wisconsin closings take place between June and August.

The median price rose at an annual pace of 2.9 percent in August 2012, and this continues the pattern of modest price appreciation statewide for each of the last six months. “It’s clear that in spite of slight upticks in the state unemployment rate over the last two months, the housing market continues to grow, and it’s growing at a brisk pace” said WRA President and CEO, Michael Theo.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales have been increasing substantially all year. Both Dane and Rock counties are showing marked improvements in the number of homes sold. Prices have bounced in Rock County, while in Dane County WI they appear to now be stabilizing.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

The Wisconsin housing statistics are now in for June of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:

“Wisconsin home sales continued to grow at a robust pace with sales of existing homes up 19.3 percent in June over June of last year... June median home prices increased 1.4 percent to $142,000 relative to the same month last year which is the fourth straight month of increasing median prices."

“In a national economy that has not yet seen the kind of growth rates that typify most economic recoveries, it’s encouraging to see such strong growth in home sales over the last 12 months,” said Rob Keefe, Chairman of the WRA Board of Directors.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you probably have heard, home sales have been increasing substantially all year. Both Dane and Rock counties are showing marked improvements in the number of homes sold.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

The Wisconsin housing statistics are now in for May of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:

“Wisconsin home sales recorded strong growth again in May, continuing the trend that began last summer. Sales of existing homes were up 18.9 percent in May 2012 compared to May 2011. In addition, median home prices in the state rose 1.5 percent to $138,000 relative to the same month last year"

“It’s good to see Wisconsin’s housing market continuing a robust rebound from the depressed levels of the recession,” said Rob Keefe, Chairman of the WRA board of directors. He noted that the monthly growth rates have been in the double digits since July 2011, and that year-to-date home sales are up over 20 percent in the state. The South-Central region was up 18.5 percent.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you can see, home sales have been increasing substantially this year. Both Dane and Rock counties are showing marked improvements in the number of homes sold.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

The Wisconsin housing statistics are now in for April of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:


“The strong pace of existing home sales continued, with 10 straight months of double-digit sales growth. Home sales rose 19.5 percent in April 2012 compared to April 2011, according to the most recent monthly report by the Wisconsin REALTORS^® Association (WRA). Home prices were also up for the second straight month, rising 2.4 percent to $128,000 in April compared to April 2011."


“After several years of a stagnate housing market, it’s encouraging to see sustained growth in home sales, especially as we enter the summer, which is the prime season for home sales in the state,” said Rob Keefe, Chairman of the WRA board of directors.


The WRA says an improving state jobs market is helping home sales. Since December, the state has added nearly 18,000 nonfarm private jobs even as government employment fell by 3,400 based on seasonally adjusted estimates.


Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you can see, home sales have been increasing substantially this year. The median sale price in Dane County has risen approximately $8,500 year over year. In Rock County Wisconsin, the median sale price has fallen, $2,450, year over year.


If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.


Bank of America Launchers new Short Sale Processes and Inititaions as of April 13, 2012

In an effort to reduce time frames, get faster approvals and streamline the short sale inititaion process, BOA will be launching new processes as of April 13, 2012.

They are....

1. Concurrent Workflows: This means that instead of BOA waiting to get a BPO until they have recevied all document, they will do the BPO and doucment collection at the same time.

2. Form Standardization: BOA will only accept their forms....for example, only their 3rd Party LOA will be accepted.

3. Back Up Offers: If your initial offer is declined, you will have 5 days to get in a back up offer. Your file will not decline out till after your 5 days.

4. Privacy Changes: To protect the client and Realtor, all communications will be done in Equator only. No outside or Outlook communications anymore.

Before April 13, agents must complete the following task for all current short sales initiated with an offer.

1. Submit short sale offer.

2. Upload offer documents

3. Upload supporting documents

If you don't do these task by 13th. you will get new task and soem task may activate simultaneiously, slowing down the process and possibly declining your file.

Go to the BOA Training by visiting www.BankofAmerica.com/realestateagent

For questions, call 1-866-880-1232

The Wisconsin housing statistics are now in for February of 2012. Here is an excerpt from what the Wisconsin Realtors Association (WRA) had to say:

This increasing sales trend began last summer and has continued at a healthy pace throughout the fall and winter. “It’s very encouraging to see sustained growth in home sales,” said Rob Keefe, Chairman of the WRA board of directors. He noted that sales over the last five months have seen growth rates in double digits without any distortion from federal incentive programs.

“We’re hopeful that the combination of moderating prices and low mortgage rates will carry this momentum into the next six months, which are the prime homebuying season in Wisconsin,” said Keefe.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Rock County, and Dane County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. As you can see, home sales have been increasing substantially this year. The median sale price in Dane County has fallen approximately $10,000 year over year. In Rock County Wisconsin, however, the median sale price has risen almost $10,000, or 13%! Have we hit bottom in Rock County for home prices??? I certainly hope so.

If you would like some insight into how much your home is currently worth, I would be happy to provide you with a free comparative market analysis. This is a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Has your home value fallen below what you currently owe? A short sale may be right for your situation. Visit the following page on Wisconsin Short Sales.

As we start 2012 and 2011 comes to an end, we will all stand in jaw dropping awe that we survived....we made it.....and the promise of a new year, raises the heads of many to the bright future that lays before us, or so that is how the story is suppose to go.

Let's be honest, 2011 was brutal. No, I am not going to go into my top 10 2011 screw ups and goof ups but, let's just simply agree that the majority of Americans want to forget that 2011 really ever happened. Now, that is something I want to talk about.

I want to remind each of you, going forward into 2012 that it's the depths of darkness that makes the light so bright. Earlier this summer, my beautiful niece Carolina came to spend 3 months with me. One of the trips I took her on was to Mammoth Cave Kentucky. Now, for those uninitiated, Mammoth Cave is a huge cave complex that you can go on guided tours through...it's really spectacular, I recommend you should do it. Well, anyways, one of the things they do on the tours is show you complete and total darkness. Now, if you are scared of the dark, this is something you better take an anxiety pill for because, when you are 70+ ft. underground........sunlight....light....non-existent. Well, I say non-existent but, someone inevitably has a watch that glows in the dark or a kid is jumping around with those shoes that have built in strobe lights or something silly like that so, some light is down there however, the amazing part is, up here, in the light of the sun, I don't really notice someone's glow in the dark watch or flashy seizure inducing shoes but, down there.....not only do you notice it, it's like your eyes gravitate to it. Down there, in the depths of darkness where sunlight doesn't dare tred, any light, no matter how faint, burns with the intensity of a thousand suns! Ok...so, I exaggerated a little.....maybe 999 suns but, hopefully you get the point. In other words, no matter how dark, no matter how dank, no matter how much despair is in your life, even the smallest measure of hope is bright enough to lead the masses from the dark. What a beautiful, amazing thought. The darker it is, the least amount of hope you need. It's the darkness that makes hope so bright, even if you don't have enough to see for yourself here in the full light of the sun.

From everyone I have spoken to, from everyone I know and from my own research, 2012 doesn't hold a lot of promise to be much better than 2011 however, we don't need "much" promise, we just need a little because no matter how dark it gets, no matter how much hope we have lost to the darkness, it just takes the tiniest bit and our eyes will do what comes so naturally to them and they will focus, they will hone our senses and we will come out on the other end, smarter, wiser and brighter than ever before.

In 2012, may your faith fill you, may your family hold you, may your friends uplift you, God Bless each of you and look forward to 2012, with just a little hope.