Blog

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.

2.9% Contraction, Worries Economist of Double Dip Recession

Per the US Commerce Department on Wednesday 6/25/2014, the US economy contracted at 2.9%, which was much greater than predicted. To put this in perspective, our economy hasn’t contracted this much since 1^st quarter in 2009, when our economy had shrunk a little more than 4.5%.

In light of this news, economist are scrambling to place blame and figure out what happened. Some of the proposed culprits are….

1. Unusually cold winter. Some economist are blaming cold weather in winter however, other economist are saying that even with cold weather in winter, a contraction of 2.9% is just too large to blame on just cold weather.
2. A down revision of consumer spending. Consumer spending is the single largest impact on our GDP. In fact, this metric accounts for nearly two thirds of our economy. It was originally reported that during this time, consumers spending was up 3.1% however, it was later revised down to only 1%. Economist are pointing to the decrease in consumer spending is a major drag on the economy. Furthermore, they are pointing to the lack of consumer spending being a bigger issue about consumer confidence….or at least the lack thereof.

So, what does this mean to Nashville real estate and your home value?

Home values have proven over time, they are a safe long term investment. They provide owners a way to build true wealth through forced savings and tax subsidies so, for those people who intend to stay in their home at least 5 years the immediate ups and downs of your homes value shouldn’t be a major economic concern for you and your family. Hold tight and you will weather the storm.

For those who will be looking to sell their home in the next 6 – 24 months, your home value is going to greatly depend on the stability of your neighborhood and the attractiveness of its amenities to potential buyers. Now, more than ever, it’s not just a homes upgrades and features that are going to protect your homes value. More often in turbulent economic times, home values are protected by neighborhood and community amenities like, ease of livability, ease of access to employment and ease of access to entertainment.

In recessions, the homes at the greatest risk to see a reduction in value are those homes located in neighborhoods where commuter times are lengthy, access to shopping means traffic and congestion and few to no entertainment venues are immediate available. Home with deferred maintenance or suffering from neglect will see the biggest fall in value. Neighborhoods with low pride of ownership will see the second biggest loss in value and finally, communities with high mortgage default rates or have very little access to viable employment opportunities will be third in line to see the biggest loss in value.

Homes that will stabilize and maintain value or possibly even increase in value will be those homes that are located in high desirable neighborhoods. If we had learned one thing in 2007 / 2008 Great Recession was, highly desirable neighborhoods can hold their value….and some can thrive.  They are far and few between and definitely don’t necessarily mean just because you live in a nice neighborhood that your neighborhood is highly desired so understand, each neighborhood is different.

To learn your homes value and receive a free email report pulled directly from the local real estate boards sales sheets, visit www.MyNashvilleHomeValues.com

The Wisconsin housing statistics are in for May of 2013. Here is an excerpt from what the Wisconsin Realtors® Association (WRA) had to say:

Strong home sales in Wisconsin for May helped boost prices up, according to the most recent statistical report released by the Wisconsin REALTORS® Association (WRA). The sale of existing homes in May increased 18.2 percent over last May, now the 23rd straight month of positive sales growth in Wisconsin, which helped push the median price up 4.3 percent to a statewide median of $144,000.

“These are very positive signals and represent an uptick from the pace of sales established in the first four months of the year,” said Renny Diedrich, chairman of the WRA board of directors. Existing home sales rose 10.3 percent from January through April this year compared to that same four-month period in 2012. “There’s no doubt consumer demand has been strong over the last couple of years, but now we’re also seeing sellers jump back in the market as well,” Diedrich said.

“Prices showed solid but sustainable growth,” said Michael Theo, WRA President and CEO. "We saw some large increases in median prices in March and April, so it’s good to see more modest increases in May."

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. Both Dane and Rock counties are showing marked improvements in the number of homes sold and the price at which they are being sold at. This spring has been really hot for the properties that are priced right! There's been a large increase in the number of home sold, as you can see below.

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.