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After the election I started watching Bloomberg TV instead of the news/opinion channels I had been watching.  I guess I just got tired of all the yelling, in addition to the fact that I felt the need to try and get some clarity on what might happen to the economy, and more specifically the Silicon Valley housing market.

Besides the much needed civility I found on Bloomberg, I quickly came away with the understanding that no matter who the different reporters and commentators said they thought would be winners and losers in a new political environment, there was one thing everyone agreed on. Interest rates are going up. PERIOD, end of story. Janet Yellen was going to raise interest rates anyway, due to the favorable economic environment. But added to what would have happened, regardless of the election outcome, everyone agrees that we appear to be headed for an inflationary period.

I am old enough to have purchased my first home when interest rates were 19% and the most valuable homes were those that had assumable mortgages as 13% or less. Hopefully we are not going back to those days.

But we are going from interest rates in low 3% to now over 4% and presumably still rising. So what does this mean to the Silicon Valley housing market?

Common wisdom is that as interest rates go up housing prices go down since the ability for a borrower to pay also goes down. We have seen this in the past, but the decrease in price is not always proportional to the increase in rate.

Take this example.

A Million dollar loan: 30 year fixed

At 4.150%:  $4861 a month

At 5%:  $5368

At 6%:  $5996

At 7%:  $6653

The difference for each jump of 1% in interest translates into about a 10% increase in monthly payment.

For a conforming loan of $400,000 30 year fixed

At 4%:  1910

At 5%:  2147

At 6%:  2398

At 7%:  2661

Again, the difference for each 1% in increased interest rates equates to about a 10% increase in monthly payment.

So, in order to make waiting a money saver, If interest rates go up 1% pt. housing prices must go down over 10%. At a 2% pt hike housing prices must go down over 20%, and at a 3 pt climb they must go down over 30%.

Do we expect this to happen in the Silicon Valley housing market in the near future?

No one can say for sure, but let’s look back at housing rate drops during the big crash of 2008-2010/2011 in some different neighborhoods.

These are average prices for all residential real estate. Some segments fell more than others, but on average I looked at what the mean sale was for single family homes, town homes and condos in four locations: Palo Alto, East Palo Alto, 94087 (Sunnyvale west of El Camino), and Willow Glen.

Palo Alto: 

High before crash:  $1.3 million

Low after crash       $1.2 million

East Palo Alto

High before crash:   $628,000

Low after crash:       $295,000

94087

High before crash:    $779,000

Low after crash:        $717,000

Willow Glen: 

High Before crash:     $793,000

Low after crash:         $637,000

What so these numbers tell me about the Silicon Valley housing market, and by extension you?

If you are planning on buying in one of the areas where prices held up fairly well during the crash, then waiting for prices to drop as interest rates rise may not be to your advantage.

If you are planning on buying in a location that did not hold up well during the crash then an increase in interest rates may get you some savings in the long run or maybe bigger, better property.

My only concern would be that places like East Palo Alto that suffered so badly during the crash may not drop as much with higher interest rates since the location is so convenient to Facebook and Google. That may put enough pressure on these east of 101 neighborhoods to keep the prices supported more than they were in the crash.

I believe the same may be true in San Jose as companies like Google and Apple move south where there is more available space. In neighborhoods like Alum Rock or South San Jose where there is a lot of investor activity it may be better to wait until prices fall.

If you have any questions about buying or selling a home in the Silicon Valley please feel free to contact me.

Nashville's housing market is due for a correction. Ask any local agent and they will tell you, we have never seen times like this before. My point is, our local market is completely and utterly operating outside of its balanced, healthy parameters. The only time in our history that we saw markets like this, was back in 2006 / 2007. The local housing market correction will be preceded by a national market correction which I do believe will happen towards the end of 2016....if not sooner. So, what's happening?

 All of the measures used to prevent the total collapse of our economy in 2007 during the bubble burst, has done nothing more than further weakened our economic foundation. Sure, you may think I am sounding a bit like the sky is falling but, I have to tell you, I really do believe the Nashville housing market is overly blotted by speculation, lack of inventory, cheap money and greed.

As a homeowner or a potential buyer you need to be aware of this pending correction but, prepare for it as well.

#1: The stock market wipe out: Margin Debt - This measures the amount of money being borrowed to invest. What this reveals is that banks and wall street firms are leveraging their money at record levels. The last time we were this high, was in 2007. Essentially the stock market is going up because people are gambling with debt….not cash. They are borrowing money on credit to invest in the stock market.

#2: Participation Rate: This simply measures the volume of the stock market. Right now we are selling at extremely high evaluations but, astonishing low volumes. So, in other words, even though the stock market is selling at all time highs, very few people are actually investing. The biggest factor for this is because of stock buybacks. Essentially companies are borrowing money to buy their stocks back to increase their share prices even though their profit margins are falling. To make their business look healthier than it really is, they borrow cheap money, to buy their stocks back on debt and increase their share prices. For many companies on the stock market, their high share price has NOTHING to do with them increasing sales or making profit but, how much stocks they can buy back. VERY DANGEROUS.

#3: Price to earnings ratio: The measure of the stock of a company vs. how long it takes to actually a return on the investment. The Shiller PE Ratio is historically 16, right now it’s 27. The last time we saw this was in 2007.

NOTE: if the stock market drops 70%.....that will put us back to our 2009 levels. That will collapse real estate world-wide. Let me explain.

#4: Home Equity Slaughter: On average, prices are up about $40,000 per home. Some areas, are up much greater….100k+. The problem is, homeownership rate is at its lowest level since 1965, nationwide.  So…how is real estate so strong? Over 10 million people lost homes in 2007. This was s huge buying opportunity for private equity funds. In other words, big investment companies swooped in and bought  billions of undervalued / distressed nonperforming assets to drive up prices. We saw Fannie sell HUGE portfolios, worth BILLIONS, to these funds, like Blackstone or “NBS’s” aka Non-Bank Servicers, like OCWEN. They were tasked by this administration to “Save people from foreclosure” or “Preserve homeownership” and that’s exactly what they did but, by doing so, we created a nightmare of a situation where a select few companies own so much real estate, if they flood the market, they can collapse the housing market in a city, over night. Now, you would think that would never happen but, let me just leave you with one, spine chilling thought.

Mortgage rates are at historical lows. In fact, the prime rate can’t get any lower….it’s virtually zero. It’s a fair and valid argument to say, fast, easy, cheap money is causing buyers to come out of the wood work and that’s why housing is booming. With that being said, what happens when those interest rates go up to 6-8%, which is historically what we consider a balanced healthy market? You see, many, many people are getting 30 year fixed rate mortgages and because the money is so cheap, they can buy a bigger, more expensive home because their money goes further. When interest rates go up, that same money becomes more expensive and buyers who could once afford a 200k home, now can only buys a 150K home…..as such, this will account for nearly a 20-40% loss in home values.

Let me put it this way, the fact is, interest rates rise, buyers evaporate. The fewer buyers in the market, home prices have only one direction to go. When those prices start falling, all those private equity firms will begin off loading properties at unbelievable rates to cut their losses.  Don’t think it can happen…..well, HUD is already doing it, RIGHT NOW! That’s right folks, HUD has announced it’s MM3.7 winners and will be releasing hundreds, of foreclosed properties into the markets that are “booming” so they themselves can recoup their losses while the getting is good. Once it gets out that HUD is about to start driving down prices in “over heated” markets…..watch these equity firms start off loading as well. When this occurs, combined by the drop in the stock market this year…..2007 will look like a cake walk. We may be talking 2^nd Great Depression.

By Jesus “Jesse” D. Gonzalez Jr. Broker / Owner of Liberty House Realty LLC

Mid Tn housing recovery is poised to bust.

For many, here in mid TN, you have seen your home prices rise over the past 12 – 18 months. If you live in the inner core of Nashville and your neighborhood has gone through a gentrification, not only have you see prices rise, you have seen them sky rocket. For all intents and purposes, the vast majority of mid TN residents can say their property values have at least returned to 2007 pre-recession levels and in some cases, have exceeded pre-recession levels. This robust housing recovery is spurred on by several different factors however, I am going to focus only on a few here in this blog, in order to explain why I believe our market is poised to bust in 2016.

Free Money

Like it or not, let’s all be honest and acknowledge the largest impact to our property values rising is the role government has played in making mortgages easier and easier to get, all in the name of affordable housing policy. If we step back a little and take a look at the even larger picture that government has played in creating cheap or even free money, you have to go all the way back and look at all the bailouts and freewheeling Federal Reserve policies on lowering and lowering interest rates. Lets also not forget the massive capital injections, better known as quantitative easing. All of this cheap or in some cases, free money is that our economy has started growing and as a result, the housing correlation that the better the economy does, the more housing we need has kicked in. As a direct result, here in mid TN, homes have seen more competition from buyers and a direct result prices have gone up.

The problem with this model is that borrowing money can’t always be free….or at least very cheap. Due to fears of inflation, interest rates have to go up, just as we saw last month. Of course, raising interest rates isn’t the problem, it’s raising rates when essentially the fundamentals of our economy are unchanged and the lessons of the 2007 collapse seem to be fading in the minds of policy makers and Wall street alike. The really scary part is, here we are, moving our economy forward through “free money” policies with no real plan in place to guard us from having to slam on the brakes, if necessary.

Europe is no Joke

People are always talking about how China is the huge economy in the room and that when it sneezes, the rest of the world economies get a cold. The problem is, that’s not true. Some of the world’s economies will get a cold but, others will catch the flu and, still others may end up terminal. Let’s be clear on a couple things about Europe, their economic fundamentals are no better than our own and in some cases, when it comes to wage growth, unemployment and the migration of refugees, their economies are fragile. Let’s not forget, some of those countries like Greece, Portugal, Spain, Italy and Ireland all had massive debt crisis that caused austerity measures that resulted in civil unrest. If and let me be clear, when China’s market collapse, as our number 1 buying partner, our economy takes a hit because the Chineese people just can’t buy as much of our stuff but, when this happens, it also causes Europe to take a hit and being our 2^nd largest trading partner not buying as much of our stuff, it would be a 1, 2, knockout punch for our economy. If and I speculate when, China’s market really starts nose diving in 2016, it will take Europe with it and as such, our two largest trading partners will keep their hands in their pockets and we will be left with products on the shelf that aren’t moving. Prices will drop, profits will be lost and short selling will begin. This will cause a ripple effect through our economy which will result in job losses, starting with the economic low classes. I truly do believe some of the first housing casualties we will see at the start of this next recession will be low income housing and by the time we react, it may be too late.

China is a Bust

I hear the media reports, like many of you, and I am lead to believe that China is now the largest economy in the world however, what if that was all a lie? What if it’s not as big as they say they are and all they have been doing is lying to the world about exactly what they are capable of economically? What if all these money control policies they enforce on their market place like, no short selling and the mandatory 15% cut off were all in place just to keep the world from seeing that all the money we have put into China to develop its economy and turn it into a consumer economy was a waste? Even worse, what if….just stop and think about this for a minute, what if this fall of the Chinese economy was purposefully planned by their Communist regime in an effort to collapse the American economy to ensure a change in the world currency from the American Dollar to the Chinese Yuan? China is no trading partner with the USA, it’s a trading adversary and sadly, our politicians don’t see it this way and as a result, we are heavily leveraged and as a result, we will pay the price with whole American companies collapsing with China and as a result, job losses on a global scale.

Unemployment, not as it Seems

So…you think unemployment is at 5%.....how wrong you are my friend and let me explain. In an effort to prop up a failing domestic jobs policy, the Obama administration has decided to put some of that common core math logic to our unemployment numbers. In fact, our government has 6 different ways of describing unemployment and sadly, most people don’t even know this. The U3 Unemployment rate is the “official” unemployment rate used by the bureau of labor statistics however, it’s not the real unemployment number. For the real unemployment number, you need to look at the U6 Unemployment number which as of last month, was at a 9.9% unemployed. You heard me correctly, that 5% you have been hearing on the news is a farce at best. In fact, this is why our economy isn’t seeing a boom with gas prices as low as they have been because the truth of the matter is, all that money people are saving from cheap gas is going to pay bills just to survive because nearly 10% of our population is unemployed or marginally employed at best and can’t spend those energy savings on anything other than bills, just to survive. For more information on where our nation’s real unemployment is at and descriptions of what it all means, visit, http://portalseven.com/employment/unemployment_rate_u6.jsp

Wage Growth or Lack Thereof

Not only is our government trying to deceive us about the unemployment status of America, even worse is that those who do have jobs are noticing that they aren’t making as much as they did before the Great Recession. Simply put, we have so many people looking for jobs, employers can offer jobs at lower and lower wages. It’s a matter of supply and demand. When you have hundreds of people competing for the same jobs, that competition puts downward pressure on wages and benefits. Even if you have a job, you are much less likely going to ask for that annual raise when you know you have 20 people in the wings ready to take your job for the same wage you’re making now…or in some cases, willing to do your job for less. Truth is, wage growth is a great way to see just exactly how well or in this case, how poorly our economy is doing. Let’s face it, if we were doing well as a whole, people would have jobs and those jobs would pay well and the truth is, that’s not where we are at. Make no mistake my friends, we aren’t as recovered as the media and politicians would have you believe.

Energy May Send Us Into a Nose Dive

Everyone need to be watching energy prices, specifically the cost of sweet crude oil. Essentially, this is where America get’s it’s gasoline and gasoline is one of the biggest cost of goods and services. Today, crude got below $30.00 a gallon and closed at $30.44 per barrel. The fact is, most American energy companies can’t pay their bills with crude prices at this level. What’s causing me to stay up at night is the fact that leading economist are suggesting, by end of the year, crude prices could be as low at $22.00 per barrel. At this price, we will begin seeing energy companies go bankrupt and massive energy sector layoffs will begin. Truth of the matter is, I really suspect that 2016 will be the year that the oil wars escalates, prices fall and the largest contributing factor to the 2016 recession will be cheap oil.

Conclusion

Our economy has a lot of downward pressure from many different sources both nationally and locally. Like I said earlier, we just don’t know what the straw will be to break the camel’s back. Right now, I see too many home buyers paying too much for their homes, yes…I said that. Sadly, I do believe a lot of buyers are going to be stuck holding the bag when the bottom falls out of this fragile economy.

The housing boom may very well be on its way to a bust. As many of you know from news sources the stock market the last couple weeks has been volatile at best. If you step back from the hype and look at the bigger picture, the last couple weeks have resulted in a $2 trillion loss in value. Some analysts are saying that this is a direct result of the collapsing Chinese market. The problem is, many Americans don’t seem to really understand exactly how this will negatively impact local housing prices. Let me explain.

First you need to understand that China is NOT a trusted trading partner, even though that is what you are told from certain politicians. Make no mistake, China is a trading adversary and they are hell bent on one long term goal, the collapse of the American dollar as the World reserve currency. Secondly, you need to remember, China is a Communist country. I will admit, Communism in China doesn’t look like it did 30 years ago but, make no mistake, it’s Communism none the less. This results in a highly controlled, highly secretive and highly manipulated market place where free market principals, and ideas are distorted and twisted. This means, that when China reports it’s losses or gains, they should always be viewed with a speculative eye and with cautious concern towards its legitimacy. Unfortunately, that’s not how we have been doing things the past 10-15 years and as a result, we have lost our place in the World as the most power economy and therefore, we are now at the mercy of less friendly countries. Let’s all not forget, China holds an enormous amount of American debt and has been countering America’s currency devaluation policies by issuing their own version of Quantitative Easing.

Now, with all that being said, I hope I have made it clear that China is no friend of the United States because, if you can’t agree with me on this point, the rest of this article isn’t going to make much sense to you.

China’s market is in a collapse….a big collapse, no matter what American politicians and Chinese government officials are telling the world. We can see the effects of this collapse very clearly by the crazy ups and downs in our own market. The losses our market is sustaining will negatively impact the revenue streams of Americas largest companies. If they aren’t making gains on the market, they are losing a revenue stream that often times is used for growth of products and services. Essentially, those products and services are sold overseas because American companies are so productive, they have to expand to foreign markets because the American market is heavily penetrated. In other words, if these companies want to continue to grow and make money, they have to open or do business in foreign markets. China is the number 1 buyer of American products and services. This means they purchase more of our stuff than any other country and keep in mind, not only are they the largest buyer of our products and services, they are essentially the last major market. In other words, when China stops buying our products and services, American companies who do business in China are going to feel the hit. So, these American companies taking a double whammy, they lose out on the stock market and then they lose out on the shelf at the store on the street corner.

As we all learned from the collapse of our own market in 2007, when companies start feeling the pinch, they start laying off workers and this is where housing prices will be negatively impacted. Simply put, people without jobs can’t pay mortgages and mortgages that don’t get paid go to foreclosure. Large amounts of foreclosed homes drives down prices and people who can still afford to pay their mortgage end up in negative equity, that means they owe more on their home than it’s worth. Now, that doesn’t seem too bad on the surface because you would think that if you just stayed in the home and could pay the mortgage, market will recover in 5 years or so and you would gain your equity back but, don’t forget, mortgages are bundled together and sold on the market as securities. Those securities are held in peoples retirements, no different than the typical diversified funds you likely have at the company who holds your IRA, 401K or whatever group managed retirement account you may have. Then our stock market takes a massive…..some speculate a death blow.

Let’s not forget, we have China in the wings, waiting for the first sign of unrecoverable weakness and like a thief in the night, they sell off all their American debt but, it’s not like when your bank sells your mortgage debt to another bank and equal or greater value, it’s a short sale of our debt….and a massive one at that, to the tune of billions and billions of dollars. They flood the world market with cheap, inexpensive, dollars and over night, maybe even in the same day, hyperinflation takes control over here in America and just like in Russia a few months ago, people swarm the banks, try to pull their money out, just to realize, local banks don’t have enough cash reserves to cover everyone’s withdrawal and before you know it, social and civil unrest ensues.

I want to be crystal clear here, I am no economist or socio-economic international political expert. I am a self taught, self made man who is trying to read the tea leaves. My opinions are my own and should never be considered financial advice however, it’s not hard for an alert American to look around and see the state of affairs we are in. Not just financially but, socially as well. Our country has been on the wrong track for some time and for some time, we have weathered the storms however, this time it will be different. It will be different because our enemies smell blood in the water. Sure, most Americans are too busy pacifying their children with Ipads, Iphones, I”this” or I”that” to stop and recognize that if they don’t take a more active role in the governance of their country by becoming informed and voting, other less informed, less competent and less liberty loving people will. .

In conclusion, the end of 2015 may result in a poor Christmas earnings for American companies due to international market uncertainty. I believe the direct result of a poor Christmas earning season for American companies will be a wave of layoffs 1^st quarter 2016. The sign that will tell me that this is starting to happen is the weekly jobless claims. If we see these numbers rise above 300K for a sustained period of two weeks or more, we are in trouble and housing markets will collapse 2-6 months later.

Jesus "Jesse" D. Gonzalez Broker / Owner TN Lic # 00300859

Liberty House Realty LLC TN Lic # 00262289

1709 Ridgemere Ct. Hermitage Tn 37076

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Email: JGonzalez@LHRLLC.com

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Web: www.LibertyHouseRealtyLLC.com

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Home Sales and Median Prices Grow Substantially in March

The Wisconsin housing statistics are in for the month of March, 2015. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

~~~~~
The Wisconsin housing market grew substantially in March, with both home sales and median prices increasing at a robust pace over the past year, according to the most recent analysis of the statewide housing market by the Wisconsin REALTORS® Association (WRA). Home sales increased 16.1 percent in March 2015 over March 2014, and median prices rose 8.8 percent to $149,000 over that same period. For the first quarter of 2015, existing home sales were 6.7 percent ahead of the first three months of 2014, with median prices in the first quarter up 7.6 percent compared to the first quarter last year.

“The market is definitely heating up, and it couldn’t come at a better time as we move into the prime homebuying season,” said Dan Kruse, chairman of WRA board of directors. In a typical year, about 27.1 percent of homes sell in the spring months between March and May. “The economic fundamentals of the housing market have been good for the last several months, and we were expecting solid growth this spring, but double-digit sales growth is impressive,” said Kruse.
~~~~~

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month both Dane & Rock County's home prices & home sales increased significantly, year over year! If you are thinking of buying or selling, the market is REALLY heating up! Dane County home prices are up (7%)!, while Rock County prices are up (17%)!!!, year over year.

Housing Statistics for the State of Wisconsin:

March 2015
Home Sales: 5,441
Median Home Price: $149,000

March 2014
Home Sales: 4,672
Median Home Price: $137,000

Housing Statistics for Dane County, WI:

March 2015
Home Sales: 601
Median Home Price: $220,000

March 2014
Home Sales: 505
Median Home Price: $205,000

Housing Statistics for Rock County, WI:

March 2015
Home Sales: 188
Median Home Price: $122,500

March 2014
Home Sales: 152
Median Home Price: $103,950

View my report from last month. Wisconsin February 2015 Housing Statistics

Thinking of purchasing a home before prices or rates rise any further? We'd be happy to show you any homes currently listed for sale. Take a look at all available MLS listings below:

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, we would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market.

Home Sales and Median Prices Grow in February

The Wisconsin housing statistics are in for the month of February, 2015. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

~~~~~
The Wisconsin housing market showed signs of modest improvement in existing home sales in February even as median prices continued to grow at a robust pace, according to an analysis of the statewide housing market by the Wisconsin REALTORS® Association (WRA). Home sales in February 2015 grew 1.8 percent compared to February 2014, and median prices increased 6.1 percent to $137,900 over that same period.

“We know the months between December and February are traditionally low-volume months for home sales in Wisconsin, so it’s good to see some improvement over last year,” said Dan Kruse, chairman of WRA board of directors. Comparing December 2014 through February 2015 with that same period in the previous year, winter sales are up about 1.2 percent. “While the state is moving in the right direction, it’s important to remember that sales last year were hampered by very cold temperatures, and so this is really only a slight improvement,” said Kruse.
~~~~~

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month both Dane & Rock County's home prices increased significantly, year over year, yet again! Dane County still showed an increase of total number of home sold, while Rock County was down slightly, year over year.

Housing Statistics for the State of Wisconsin:

February 2015
Home Sales: 3,482
Median Home Price: $137,900

February 2014
Home Sales: 3,419
Median Home Price: $130,000

Housing Statistics for Dane County, WI:

February 2015
Home Sales: 355
Median Home Price: $215,000

February 2014
Home Sales: 341
Median Home Price: $195,000

Housing Statistics for Rock County, WI:

February 2015
Home Sales: 92
Median Home Price: $111,500

February 2014
Home Sales: 110
Median Home Price: $97,750

View my report from last month. Wisconsin January 2015 Housing Statistics

Thinking of purchasing a home before prices or rates rise any further? We'd be happy to show you any homes currently listed for sale. Take a look at all available MLS listings below:

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, we would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market.

January Home Sales Fall as Prices Continue to Rise

The Wisconsin housing statistics are in for this January of 2015. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

~~~~~
Existing home sales fell in January but median prices rose at a healthy pace, according to the most recent statewide housing market analysis by the Wisconsin REALTORS® Association (WRA). Home sales in January 2015 fell by 3.7 percent relative to January 2014, while median prices were up 6.5 percent to $135,000 over the same period.

“January is typically our slowest month for home sales, so it’s important to keep this decline in perspective,” said Dan Kruse, chairman of WRA board of directors. A typical January accounts for just 4.8 percent of annual sales in Wisconsin. “With such a small base of sales, a 3.7 percent difference is only 125 fewer sales this January compared to January 2014,”
~~~~~

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month both Dane & Rock County's home prices increased significantly yet again! Both counties were also an exception to state results and had an increase in the number of homes sold, year over year.

Thinking of purchasing a home before prices or rates rise any further? We'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Rock County Homes 

Dane County Homes.

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our distressed property page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

January 2015
Home Sales: 3,257
Median Home Price: $135,000

January 2014
Home Sales: 3,375
Median Home Price: $126,799

Housing Statistics for Dane County, WI:

January 2015
Home Sales: 336
Median Home Price: $214,750

January 2014
Home Sales: 292
Median Home Price: $205,250

Housing Statistics for Rock County, WI:

January 2015
Home Sales: 110
Median Home Price: $106,950

January 2014
Home Sales: 98
Median Home Price: $98,950

View my report from last month. Wisconsin December 2014 Housing Statistics

Housing Market Ends Strong in 2014

The Wisconsin housing statistics are in for this December of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

~~~~~
The housing market ended 2014 on a strong note with both existing home sales and median prices higher in December, according to the most recent analysis of the state’s housing market by the Wisconsin REALTORS® Association (WRA). Home sales in December rose by 2.1 percent compared to December 2013, and median prices rose 4.3 percent to $145,000 over that same time frame. For the year, home sales in 2014 were slightly below a very strong 2013 market, down just 1.5 percent; but prices were higher in 2014, up 3.1 percent to an annual statewide median of $148,000.

“Despite a slow start due to harsh winter weather early in the year, 2014 rebounded nicely and ended with an excellent December and a very good final quarter of the year,” said Dan Kruse, chairman of WRA board of directors. Kruse noted the fourth quarter of 2014 was the strongest since 2005.
~~~~~

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month both Dane & Rock County's home prices increased significantly. On a year over year basis, Dane County's total number of homes sold was up while Rock County home sales slipped.

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Real Estate Listings in Janesville, WI 

Real Estate Listings in Madison, WI.

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our distressed property page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

December 2014
Home Sales: 4,778
Median Home Price: $145,000

December 2013
Home Sales: 4,663
Median Home Price: $139,000

Housing Statistics for Dane County, WI:

December 2014
Home Sales: 466
Median Home Price: $220,170

December 2013
Home Sales: 442
Median Home Price: $202,250

Housing Statistics for Rock County, WI:

December 2014
Home Sales: 131
Median Home Price: $116,250

December 2013
Home Sales: 147
Median Home Price: $110,000

View my report from last month. Wisconsin November 2014 Housing Statistics

The Wisconsin housing statistics are in for this November of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

~~~~~
Existing home sales in Wisconsin fell in November compared to the same month last year, but home prices increased over the same period, according to the most recently released analysis of the state’s housing market by the Wisconsin REALTORS® Association (WRA). Existing home sales in November were down 6 percent whereas median prices rose 6.6 percent to $145,000 between November 2013 and November 2014.“The last couple of months have been a bit of a roller coaster in terms of sales,” said Dan Kruse, chairman of WRA board of directors. “October sales were up over last year but sales in November were down” Kruse said. Comparing year-over-year sales for the two months, October sales rose 658 units compared to October 2013 while November sales declined 288 units relative to November 2013. “Putting these numbers into perspective, our housing market remains strong in Wisconsin,” Kruse said. “We had the strongest September to November sales period since 2006, before the Great Recession began”
~~~~~

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month both Dane & Rock County's home prices increased significantly. On a year over year basis, Dane County's total number of homes sold was up while Rock County home sales slipped.

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Real Estate Listings in Janesville, WI 

Real Estate Listings in Madison, WI.

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our distressed property page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

November 2014
Home Sales: 4,542
Median Home Price: $145,000

November 2013
Home Sales: 4,807
Median Home Price: $136,000

Housing Statistics for Dane County, WI:

November 2014
Home Sales: 431
Median Home Price: $225,000

November 2013
Home Sales: 425
Median Home Price: $210,000

Housing Statistics for Rock County, WI:

November 2014
Home Sales: 131
Median Home Price: $113,000

November 2013
Home Sales: 147
Median Home Price: $108,000

View my report from last month. Wisconsin October 2014 Housing Statistics

The Wisconsin housing statistics are in for October of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

~~~~~
Wisconsin’s home sales rose significantly in the month of October, and median prices continued growing at a solid rate, according to a recently released analysis of the state’s housing market by the Wisconsin REALTORS® Association (WRA). Existing home sales in October 2014 were 9.6 percent higher than October 2013 while median prices were up 4.2 percent over that same period, growing to $148,000. “This was a strong bounce in home sales in a month where sales activity is typically winding down as we approach winter,” said Dan Kruse, chairman of WRA board of directors. “In fact, this is the strongest October sales we have seen since 2005 when the WRA began using the current data collection system.” Kruse said. Median prices continued to rise statewide in October, growing at a 4.2 percent annual pace. On a year-to-date basis, home prices in Wisconsin were up 2.5 percent compared to the first 10 months of 2013, which more than outpaces the annual national inflation rate, which stood at 1.7 percent as of September.
~~~~~

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month Dane & Rock County's home prices increased significantly. On a year over year basis, Dane County home prices were up 3.7% and Rock County prices are up 13.8%!

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Real Estate Listings in Janesville, WI 

Real Estate Listings in Madison, WI.

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our distressed property page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

October 2014
Home Sales: 6,366
Median Home Price: $148,000

October 2013
Home Sales: 5,748
Median Home Price: $142,000

Housing Statistics for Dane County, WI:

October 2014
Home Sales: 501
Median Home Price: $225,000

October 2013
Home Sales: 517
Median Home Price: $216,796

Housing Statistics for Rock County, WI:

October 2014
Home Sales: 206
Median Home Price: $122,950

October 2013
Home Sales: 165
Median Home Price: $108,000

View my report from last month. Wisconsin September 2014 Housing Statistics

The Wisconsin housing statistics are in for September of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin’s home sales in September were nearly identical to one year ago, but prices were higher, according to the most recent analysis of the state housing market released by the Wisconsin REALTORS® Association (WRA). Existing home sales in September were just 0.2 percent lower than September 2013, and median prices were 3.1 percent higher to $148,700.

“Although our home sales are slightly lower than last year, it’s important to recognize how far we’ve come since emerging from the Great Recession,” said Dan Kruse, the newly installed chairman of WRA board of directors. “Sales this quarter may be 2.1 percent below a very strong third quarter last year, but they are 20.7 percent higher than they were just after the recession ended in the third quarter of 2009,” Kruse said. Kruse noted that other housing indicators also paint a picture of a stabilizing housing market in the state. Seasonally adjusted housing inventories have ranged from about 49,000 homes to nearly 53,000 homes since December 2012, which is a far cry from the nearly 72,000 homes on the market in March 2010.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month both Dane and Rock Counties showed increases in year over year home prices, approximately 3.3% in Dane County and over 11% in Rock County!

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Real Estate Listings in Janesville, WI 

Real Estate Listings in Madison, WI.

With the recent home price increases, now might be the right time to sell your Wisconsin home. Take advantage of your increased equity! Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our distressed property page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

The Wisconsin housing statistics are in for August of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Home sales fell for the second straight month in August whereas median prices rose by modest margins. Wisconsin’s existing home sales dropped 5.7 percent in August compared to August 2013, and median home prices were up 3.3 percent to $157,000 over that same period, according to the most recent housing market report released by the Wisconsin REALTORS® Association (WRA).

“Home sales continue to lag behind 2013, and while it’s important to remember that 2013 was a strong year for sales, there are a number of other contributing factors that also explain relatively lower sales,” said Steve Lane, chairman of the WRA board of directors. “Inventories are tighter in our metropolitan areas compared to rural areas, and some buyers may be having difficulty finding homes to buy in those markets,” Lane said. Metropolitan counties had 7.7 months of available inventory in August, and their sales were down 8.1 percent compared to August last year. In contrast, rural counties have 16.6 months of inventory, and their sales were essentially flat, falling less than 0.2 percent.

Below are the number of Home Sales and Median House Prices for the state of Wisconsin, Dane County, and Rock County. These stats include Janesville and Madison. Feel free to contact me if you have any questions pertaining to these figures. This month showed a decrease in the number of home sales statewide and in Dane County, but a solid increase in home prices! Rock County remains one of the better recovery stories with significant increases again in both median price and the number of home sales in August! 

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Real Estate Listings in Janesville, WI 

Real Estate Listings in Madison, WI.

With the recent home price increases, now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our distressed property page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

The Wisconsin housing statistics are in for July of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin’s existing homes sales fell in July even as median prices continued to rise. Home sales fell 2.4 percent in July 2014 compared to the same month last year, and median prices rose 2.4 percent to $158,700 over that same period according to the most recent housing market report released by the Wisconsin REALTORS® Association (WRA).

“Although sales fell short of the last year’s levels, it’s important to remember that 2013 was a very strong year for home sales in the state,” said Steve Lane, chairman of the WRA board of directors. “Sales were down 7.6 percent for the first five months of 2014 before they bounced back in June, raising 5.7 percent above June 2013. For July home sales to be close to last year’s strong showing indicates the current market is solid.” Lane said. He noted that with the exception of last year, this has been the strongest eight-month period since 2007.

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. This month showed a decrease in the number of home sales statewide and in Dane County, but a sharp increase in home prices! Rock County remains one of the better recovery stories with significant increases in both price and home sales. 

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Real Estate Listings in Janesville, WI 

Real Estate Listings in Madison, WI.

Now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page for more information.

Wisconsin Short Sales

Housing Statistics for the State of Wisconsin:

The Wisconsin housing statistics are in for June of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Existing home sales in Wisconsin saw positive gains for the first time this year, and median home prices were up slightly according to the most recent housing market report released by the Wisconsin REALTORS® Association (WRA). June home sales rose 4.5 percent compared to June 2013, and median prices were stable, rising 0.6 percent to $159,900 over the same period.

“This is a welcome sign since June is our most important month for sales,” said Steve Lane, chairman of the WRA board of directors. “In a typical year, Wisconsin sells approximately 11.5 percent of its homes in June, which is more than any other month of the year, so strong sales in June is important,” Lane said. However given the harsh winter, Lane cautioned that even a solid showing in June won’t completely erase the weaker winter and spring sales. He noted that during the first half of the year, sales were down 4.9 percent compared to the first six months of 2013.

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. This month showed an increase in the number of home sales statewide and in Rock County, but a slight decrease in Dane County. Home prices rose slightly in all 3 areas highlighted below.

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit either site below:

Real Estate Listings in Janesville, WI 

Real Estate Listings in Madison, WI.

Now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! If you would like some insight into how much your home is currently worth, I would be happy to provide you with a report that gives a close estimate to what your home might sell for in your current local Wisconsin real estate market. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page for more information.

Wisconsin Short Sales

The Wisconsin housing statistics are in for May of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Existing home sales continued to lag behind 2013 levels but median prices rose by a solid margin in Wisconsin according to the most recent housing market report released by the Wisconsin REALTORS® Association (WRA). May home sales dropped 6.9 percent compared to the May 2013 volume of sales. In contrast, median prices increased over the same period, rising 3.8 percent to $150,000.

“This is the fifth straight month of reduced home sales compared to where we were this time last year, and there are multiple potential reasons why,” said Steve Lane, chairman of the WRA board of directors. He pointed out that state economy appears to be steadily improving. The unemployment rate continues to drop and at 5.7 percent in May, it stands a more than a percentage point below where we were last year. In addition the state has added more than 38,300 jobs over the last year according to the U.S. Bureau of Labor Statistics. The harsh winter contributed to slower sales in the first four months, but it can’t explain the slower sales in May. “Even though last year was a strong year for sales, we expected a slight bounce in May sales as the prolonged winter ended,” Lane said. “But we haven’t seen that bounce yet.”

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, overall home sales & prices have been increasing over the past few years. This month however showed a decrease of home sales statewide, but an increase in home prices. Rock County however showed increases in both sales and price!

Thinking of purchasing a home before prices or rates rise any further? I'd be happy to show you any homes currently listed for sale. Feel free to visit Real Estate Listings in Rock County to search for current Rock County properties or visit Real Estate Listings in Dane County for homes in Dane County Wisconsin.

Now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! 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. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

DSNews ran an article this morning with results from a recent survey revealing over half of the country still believes we are in a housing crisis.

Although it is true that some areas in the country are still struggling to put the crisis behind them, markets from Florida to California and everywhere in between are experiencing a robust recovery and many submarkets have been realizing year-over-year double digit appreciation since 2012.

So why do some people still think the housing market is underperforming?
3 Reasons—Uninformed. Underinformed. Misinformed.

The reality is, real estate data is at least 3-6 months old by the time the mainstream media gets their hands on it before reporting it back to the public. Keep in mind, the sale of a home and it's selling price is recorded after the transaction closes. The time lapse between contract and closing averages 90-120 days.

Also real estate statistics are released on a month-end/end-of-quarter and year-end basis. If you're not paying close attention you could be a year behind on your outlook of the housing market. I suspect this is why more than two and five adults believe the housing market today continues to be a serious problem.

Example: A house that sells on Jan 1 and closes on April 1 doesn't show up in the data mix until the end of May when the month end reports are released. Worse yet, it won't count as a statistic in the quarterly analysis until the end of July. This is especially problematic in a fast moving market.

By the time the general public get's in the loop it's old news. Armed with old information when selling your home or buying a new one can be dangerous and could cost you thousands of dollars.

How can you get reliable and up-to-date information?

To start you can visit the County Records/Tax Assessor website in the area to search sale prices, closing dates and property details. You can also check out Trulia, Zillow and Realtor.com to browse through homes for sale and obtain information on closed homes. These sources will give you a general idea of what homes have been selling for and the current asking prices in a given market.

Your best source for real estate trends has always been a good local agent. Most real estate agents are more than willing to share their knowledge. They are the experts and can easily provide you with a current market analysis summarizing for sale, sold and pending activity in the area.

Everything about the real estate industry is time sensitive, the old saying "no news is good news" doesn't apply.

Keeping your ion REAL ESTATE.
Michael Humphries, designated broker for Compass Roads Realty, Inc. and real estate author covers local and national real estate news, industry trends and market analytics. Read more of his work here.

follow Michael:

Search for thousands of homes in South Florida with direct access to the MLS.

http://compassroadsrealty.com/

The Wisconsin housing statistics are in for April of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Wisconsin existing home sales fell in April even as median prices continued to rise according to the most recent analysis of the state housing market released by the Wisconsin REALTORS® Association (WRA). Home sales declined 11.6 percent in April compared to the same month last year due to a combination of higher home mortgage rates, higher prices and harsh winter temperatures. Median prices rose over that same period, increasing 1.4 percent to $139,900.

“As we enter the second quarter of the year, we have been expecting some improvement in home sales, but it’s important to remember that April sales are still impacted by the February weather given the 6 to 8 week lag between the time an offer is accepted and a closing takes place,” said Steve Lane, chairman of the WRA board of directors. He also noted that there were heavy snows in the northern part of the state as late as mid-April 2014. Every region of the state experienced a decline in April sales. The Central region fared the best, falling just 3.8 percent over the April 2013 to April 2014 period, followed by the Northeast region which dropped 8.5 percent over the period. The South central region fell 9.6 percent and the Southeast region saw a decline of 10.1 percent. Finally, the North region dropped 17.4 percent and the West fell 25.5 percent. Interestingly, home sales fell more substantially in the metropolitan counties which averaged a 13 percent reduction in sales in April compared to rural counties which declined 7 percent between April 2013 and April 2014. “This may be due in part to much tighter inventories in the urban counties compared to rural counties,” Lane said. Rural counties had just over 14 months of available inventory in April compared to just 6.9 months for metropolitan counties.

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, overall home sales & prices have been increasing over the past few years. This month however showed a decrease of home sales statewide, but an increase in home prices.

Thinking of purchasing a home before prices or rates rise any further?! I'd be happy to show you any homes currently listed for sale. Feel free to visit Home Listings in Rock County to search for current Rock County properties or visit Home Listings in Dane County for homes in Dane County Wisconsin.

Now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! 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. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

DCHA HOMEOWNERSHIP DOWNPAYMENT ASSISTANCE PROGRAM

The Dane County Housing Authority, (DCHA), offers interest-free, deferred, Down Payment and Closing Cost loans to income-eligible, first-time-home-buyers. Loans are available on a first come, first serve basis as funds are available. The DCHA Down Payment and Closing Cost Loan Program is a gap financing program for income-eligible first time home buyers providing up to $12,000 per transaction in the form of a zero interest, deferred payment loan.

TO QUALIFY
Household must be first time homebuyers purchasing in Dane County, outside the city of Madison. First time homebuyer is defined as never owning a home or not owning in the last three years.

Home must be owner-occupied in the form of a single-family home, ½ duplex, townhome or condominium. Income property is not allowed for this assistance.

Household income may not exceed 80% of County Median Income.

Borrower must bring a minimum of one percent (1%) of the purchase price from their own funds to the transaction.

Maximum purchase price is $223,250.

Processing time is approximately 20 days from the date of commitment.

Household members who will be listed on the mortgage documents that are accessing the DCHA program, will be required to complete homebuyer education and counseling through an approved source. Buyers can either take a DCHA First Time Home Buyer Course or another DCHA-approved program can be substituted as needed.

NON-PARTICIPATING MUNICIPALITIES 
Cities:
Madison, Maple Bluff

Villages:
Cottage Grove, Dane, Mazomanie

For more information, including income limits, please visit their website at:

http://www.dcha.net/housingcenter/down-payment-assistance.php

Need help finding the perfect home? We would love to help! Take a moment to fill out the home buyer questionnaire below:

My Next Home

The Wisconsin housing statistics are in for March of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Home sales dropped for the third straight month in Wisconsin as the frigid temperatures and hefty snowfall continued into March, according to the latest analysis of housing market activity released by the Wisconsin REALTORS® Association (WRA). Compared to March 2013, home sales declined 11.3 percent in March 2014, which contributed to a weak first quarter. First-quarter sales fell 8.5 percent compared to the first quarter of 2013. However, the median price of existing homes rose a modest 1.9 percent to $136,500 over the period between March 2013 and March 2014. Median prices were up 4.2 percent for the first quarter relative to the same quarter last year.

“Even with spring officially arriving in the middle of March, the spring selling season has been slow to gather steam,” said Steve Lane, chairman of the WRA board of directors. “We are hopeful that the spring thaw will jump-start the selling season that traditionally gains momentum in the second quarter,” Lane said. Still, Lane noted that the first quarter sales remain above their levels of two years ago — a year that had a relatively mild winter by comparison.

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 & prices have been increasing over the past few years. This month again showed a decrease of home sales statewide, but an increase in home prices. Dane County's prices increased around 4% in March, year over year, while Rock County's median home price stayed nearly the same. Rock County did show an increase in home sales though, in contrast with the rest of the state.

Thinking of purchasing a home before prices or rates rise any further?! I'd be happy to show you any homes currently listed for sale. Feel free to visit Home Listings in Rock County to search for current Rock County properties or visit Home Listings in Dane County for homes in Dane County Wisconsin.

Now might be the right time to sell your Wisconsin home. Feel free to take a look at our cutting edge Rock Realty Marketing Plan! 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. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.

The Wisconsin housing statistics are in for February of 2014. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

For the second straight month, home sales dropped as Wisconsin recorded its coldest winter in decades according to an analysis of February housing market activity released by the Wisconsin REALTORS® Association (WRA). Existing home sales dropped 10.1 percent relative to February 2013; however median prices actually increased substantially, rising 7.4 percent to $130,000 over the same 12 month period.

“We live in Wisconsin. We expect slow sales in February,” said Steve Lane, chairman of the WRA board of directors. “But we broke many records for cold temperatures this winter, so it’s not surprising this year’s February sales were off the 2013 pace,” Lane said. “Weather extremes weren’t the only thing that conspired to dampen sales. Median prices have grown consistently since March of 2012 and mortgage interest rates have been climbing and are now almost a full percentage point higher than this time last year,” Lane said.

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 & prices have been increasing over the past few years. This February showed a decrease of home sale statewide, but an increase in home prices. Dane County's prices stayed fairly stagnant year over year, while Rock County's median home price was up over 20%!

Thinking of purchasing a home before prices or rates rise any further?! I'd be happy to show you any homes currently listed for sale. Feel free to visit Rock County, WI Home Listings to search for current properties listed in Rock County or visit Dane County, WI Home Listings for homes in Dane County.

Now might be the right time to sell your Wisconsin home! 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. Click below:

What's My Wisconsin Home Worth?

Has your home value fallen below what you currently owe? Have you experienced a hardship like divorce or job loss? A short sale may be right for your situation. Visit our page on Wisconsin Short Sales for more information.