I received a notice from a company that Ca state regulations require that all payments be made to the employing broker or brokerage. They payment is already low. For many years all payments go directly to me. My broker does not care but the logistics of writing a check back to me will be difficult to continue on a continuous basis.
I do not have similar issues with other companies. Anyone has that experience? They now ask for copy of driver's license.
The real estate downturn of the mid-2000s is mostly over and the market is heating up, with prices rising in all over the U.S. In Wisconsin, the real estate market might be even healthier than in other locales, with new and existing home prices expected to rise 2.4 percent by early 2016. It might just be the perfect time to buy, but before you make any offers, you need to do a little planning to make sure you can pay out over the long run, especially if it's your first home.
Do you have good credit? Do you know what good credit is or the factors that affect your credit? Have you had late payments, bankruptcies, judgments or other liens? If the answer is yes, the first step is to work on your credit score and report. Up until just recently, access to your credit score and full report was granted after putting down credit card info for a "free trial." that you would have to cancel right away to avoid a costly fee. Now, you can access your score and report for free, so there's no excuse for not knowing what's happening with your finances. Your FICO scores are ordered separately, usually for a nominal fee. Check it for discrepancies or old information. Much of the time you can contact the lender directly to resolve these issues. Or, contact the bureau and use their dispute resolution process. Most mortgage loan programs require a 640 score or higher, so fixing errors or having old information removed can make a big difference.
Do you have money for a down payment or closing costs? If not, how long will it take you to save? Start now. Make a commitment to stash funds away each month to help you meet your goal. Some loan programs are still available for 0% down but watch out for those; if the market should falter again you don’t want to owe more on the home than it’s worth. It also goes without saying that you want to refrain from big purchases that require credit, such as buying a new car, until after the home purchase process is over.
Owning a home is touted as a big factor in achieving the American dream, but it's not for everyone. Ask yourself:
Am I prepared for expenses like home repairs and landscape maintenance? Am I at risk for job relocation? Am I able to stay in one place for three to five years?
Resist the urge to call your realtor first. Instead, speak with a lender or two to find the best program. There are many loan products and even more lending institutions so it's worth shopping around for the lowest rate. A good lender will also advise you on the best ways to protect your credit while you a preparing to buy a house, which might include ID monitoring and credit report monitoring to ensure that someone else isn't using your good credit or your identity while you working on purchasing your home.
Use a mortgage worksheet to keep track of the information you receive from various lenders. It can be a dizzying amount of numbers and differences so keeping them in one place is important. When you are within 60 days of purchasing, your lender will issue a pre-approval letter for the amount you qualify for. Now you can call your Realtor and look for your dream home.
Home Sales and Median Prices Grow Substantially in MarchThe 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:
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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.
Sometimes you have to search through the fog to find the best real estate agent you can. Here are seven key points you can look at to make sure you stand the best chance of finding that quality agent to help you sell your home.
On a personal not, I have always found that just as important as the list above, is the potential agents personalities, professionalism and upfront honesty...even if it’s not something you want to hear. So don’t forget to see if you “click” with your new agent.
www.pamsvas.com - Real Estate REO and BPO Virtual Assistants
I just received in the mail an acceptance letter from NRBA saying my application was approved and that all they needed was my annual payment. The funny thing is is that I did not apply to be a member. I would appreciate anyone giving me their honest opinion about this group!!!
“Destiny is no matter of chance. It is a matter of choice. It is not a thing to be waited for, it is a thing to be achieved.”
William Jennings Bryan
Being a self-employed, every professional holds his destiny in his hands. Taking control of your life is the first step towards achieving success and retirement is an extremely important part of life. How do you achieve maximum benefits with your retirement plan?
Step I: Asking the right questions
Step II: Look out for best options
Step III: Analyze them and start investing your money
It is important to understand that investment options differ from one institution to another and it is extremely important to choose a flexible plan provider for Solo 401k retirement plans.
If you are selling a home, your real estate agent may often tell you the something like – “we have to sell it fast, it’s in your best interests”, “get rid of this chapter of your life and start anew”. “make sure you clean your home thoroughly and give it a fresh coat of paint on the inside and out, and watch it sell like a hot cake.”
Real estate agents often recommend that you make use of a professional home stager, a person who will evaluate your home and tell you what it takes to make it appealing to potential buyers.
A recent survey has found that more than 50% of agents who work with buyers say that staging has an effect on the buyer's view of the home. It does tell us that staging is one sure-fire method to get buyers interested in at least looking at your home.
There is little doubt that decorating a home before putting it out there on the market, really does attract more buyers. Especially if the home is vacant or out dated. So the million dollar question has to be: “what if I have decorated my home but not necessarily in a way that will please a potential buyer?”
A bad paint job is as bad as not bothering to clean or decorate your home at all. If you really want to make that sale then you should be looking at spending a bit of money. Depending on the size of your home, If you look at a home staging budget of say around $700, spent wisely, then you may very well get an extra few thousand in sales price.
If you have a larger home – say a house with 5 bedrooms and 4 bathrooms, then expect that home staging budget to be higher but you can also expect a much higher return on the sale of your property when it closes and more immediate interest when it hits the market. The fact is you should be able to recoup costs associated with the decorating and paint work you do around the home, and most times, even more.
So make sure you at least consider your Realtor’s recommendation of home staging. It may shorten your time on the market and put more money in your pocket at closing.
PamsVAS.com - Real Estate Virtual Assistants
In December 2014, national cash sales on single family homes made up for about 35% of the total of all home sales. WOW!! However, if we turn the clock back a year we find the cash sales in December 2013 made up 38.5% of the share; so why is this figure falling and should we be worried by it? Now, I’m not saying that this # is the best gage of the real estate market, but we definitely should watch it.
The percentage of cash sales on homes has been declining steadily since January 2013 and every month that follows the figure goes down a little more. Now, December 2014 was the 24th month on the bounce where cash sales – as a percentage of all home sales – were down.
Usually the drop each month would only be around half a percentage point but because there are seasonal variations, the figures should be taken as a year-on-year representation rather than a month by month one. If you are a real estate agent, you definitely understand that.
So, why are we still seeing a decline in the amount of cash sales. Turn the clock back just a little to January 2011 and you’d be amazed to learn that cash sales made up 46.5% of all home sales.
It has to be a strong possibility that mortgage lenders were tightening up and not loaning out to any Tom, Dick or Harry and that if you wanted to buy a home, you had to pay up, especially if you were a foreign buyer.
If we turn the clock back even further to the days before the housing crisis started, you will see cash sale figures of just 25%! Astonishingly low, but consider that these were the days when mortgage lenders were falling all over one another to lend money for home purchases. After the housing crisis hit in 2008, lenders were ordered and compelled to tighten up mortgage lending, leaving the majority of those home buyers post-housing crisis to stump up the cash, rather than getting a mortgage.
We are expecting the levels we saw in 2006 (approximately 25% cash sales of all home sales) to return again once more. We are not saying that irresponsible lending is likely to make any sort of quick return, (although look at Freddie Mac’s latest announcement of 3% downpayment loans back again), but we can expect the cash sales figures to dip back to somewhere around 25% over the next year or 2.
pamsvas.com - Real Estate REO Virtual Assistants
Home Sales and Median Prices Grow in FebruaryThe 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.
Moving out of a huge house and into a property that is considerably smaller is taking off in the U.S. (as well as in many other countries) in an ever-increasing way. So why do people do it? The average floor space of the typical American home is approximately 2600 square feet, but compare that to a tiny house where the floor space can measure just 100 square feet and no more than 400 square feet, and suddenly you really are looking at a huge downsizing operation.
Put simply, the Tiny House Movement is a social networking group whose aim is to downsize the area they are living in and then broadcast their experiences in the transformation. Advantages include lower mortgage payments, less cleaning and maintenance, lower utility bills, lower taxes, environmentally friendly and simplified living.
So what is the main reason why so many people are flocking to join this new revolution in downsizing the amount of living space in their new homes? The main reason is definitely financial and the effect of the 2007 Housing Crisis still has a huge impact on the way we are all managing our money now.
Indeed, the real estate down turn has changed the way most people live – which is hardly surprising when you consider that an average of around 50% of the income a person earns, is set aside for that roof over our head. Downsizing, even just a little, can reduce the portion of income dedicated to housing to as little as 30 per cent, thus freeing up some 20 per cent of our salary to spend on other luxury items or necessities.
Just calculate how much 20% of your take home pay is and think what you could do with that money: take an exotic vacation overseas, buy a new car, pay for your child’s university fees or just invest in a small swimming pool to go in your much smaller back yard. It’s a shocking statistic that some 76% of all Americans are living from one pay check to the next.
Another appealing statistic is that 55% of all tiny house dwelling people have more money in their saving accounts than the average American has (average savings is currently $10,800), so you can really bank on having more disposal income than the people trying to get by in their huge homes.
A Tiny House may not be for you and your family, but many people are learning to adapt, especially with all the advantages of a Tiny House.
“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.”
Franklin D. Roosevelt
Franklin D. Roosevelt was able to sum together the entire thought process of real estate investors and agents in a single sentence. Real estate business is back on its track after the last recession and property prices are faring well throughout the United States.
As a real estate agent, it is quite common to ignore retirement planning and most of the agents do not have a solid retirement plan in place. In some cases, it could be lack of awareness and in others, overestimation of one’s ability to work. However, if you are to find a retirement plan that can help you in capital funding during a period of financial drought, isn’t that wonderful?
Solo 401k is a retirement plan for self-employed individuals and real estate agents can benefit a lot from it. It has comparatively higher contribution limits and one can contribute up to $53,000 in 2015 (excluding catch up contributions).
“The best time to plant a tree was 20 years ago. The second best time is now.”
Chinese Proverb
For real estate agents Loan option is one of the biggest benefits.
Real estate transactions involve different types of fees and Solo 401k loan option can help you handle those. For an instance, you might need money to cover legal costs or research work in the transaction. At the same time, it can help you grab crucial real estate opportunities and offer financial support.
Are you like us? Seeing a decline in social media engagement over the last year?
I have heard many say "why is my social media traffic slowing down, specifically Facebook?" and I have noticed the same with my pages, that I have built slowly but surely over the last 5 years.
So on one hand, I'm relieved that it's not just me, that there are others in the same boat. On the other hand, I want to know why. Well, there are certainly dozens of opinions across so many social media news sites and platforms.
There seems to be a consistent theory out there, that it's due to Facebook's algorithm changes in 2013 and 2014? So many people don't know what an algorithm change (or update) actually is. Depending on who you ask, the answers can be quite different. If you ask Google, they might say that their algorithm updates are to provide a better user experience for you and more accurate search results. Ok, maybe!
If you ask Facebook, they may actually respond in the same way. But is there more to it?...There always is more to it. Especially when Facebook's brand pages have seen a decline in reach of around 44% late last year, with their paid exposure/posts bringing in over $6 Billion.
It's been documented that Facebook Brand Pages use to bring in a reach of approximately 16% of their page fans. Heres the bad news... that number has come down last year to around 3%. What? Thats about an 80% decrease in our posts being seen by people who have actually Liked our page and Follow us there.
We have all received those messages from Facebook about "Promoting our Posts" to increase our reach and our interactions, or even for more Likes. Have you tried paying to promote your posts? Did it work? Of course it did, because you paid to have people see your post.
Many Brand Page owners seem to be expanding their Social Media exposure to include Google+, Instagram and of course giving more attention to their Twitter accounts.
We would like to know what your doing to spice up your social media interaction and presence. Have you see a rise in interaction on other platforms? Which ones?
Mom always said to not put all your eggs in 1 basket, and I can't think of a better example of that old adage.
Here is a great article that further explains some specialist's opinion on the current status and future of the big Social Media Platforms. "Is Social Media Dying a Slow Death?"
http://enobytes.com/2015/01/05/social-media-dying-slow-death/
PamsVas - Real Estate REO Virtual Assistant Services
By working probates, agents can get ahead of the ball, not behind it or on top of it. With a shrinking distressed property market, many agents are feeling the crunch of fewer selling opportunities. A staggering amount of properties will pass through probates - literally trillions of dollars - and an aging boomer population only stands to increase the number of unlisted, unpublished, and unknown opportunities.
Yet it begs the question, "how do I profit from probate"? Many agents mistakenly think that probate is a complicated transaction, but it is merely the court-supervised process of liquidating assets in the estate. If a property goes through probate, the heirs nearly always want to cash out - they want the money in the house.
The first step is identifying probated properties in your backyard.
Finding probated properties is easy for those that want to invest the time to extract the data at the courthouse. While most court houses are in the stone age when it comes to technology, many counties publish this data online. The key is to what to look for, to ensure that real property is attached to the estate. Without this extra step, you can be spinning your wheels getting in front of leads that have no real estate.
Because of the time intensity, you can easily pay a "leads" provider $5 or more per lead or more, with no guarantee that real estate is tied to the estate. Why not paddle your own canoe, and find probated properties yourself?
Make no mistake, extracting probate filings can be timely, but well worth it. If you find that you don't have the time to do this tedious task, you can likely find someone locally to do it for you at a less cost than outsourcing it. I've put ads on Craigslist for independent court researchers and have gotten literally hundreds of responses. Of course, the person must be reliable. This is one of the drawbacks to using a probate leads company. They have little control over the day-to-day activities of a remote court researcher. They profess to have many court abstractors scattered around the country. That may be true, but the leads company wields little control over them. Oftentimes, these lead providers cannot find someone to extract data in a particular market, so they call up another provider. Which means they are re-selling someone else's data, with no guarantee of its accuracy. Worse still, the researcher can get frustrated and quit the job, leaving the client hanging out to dry. Better to exert more control by personally meeting with the researcher, have their cell phone number, and know what they are doing in real time.
There are some companies in this space that sell a lollipop ring and pass it off as a diamond. That is, the probate lead is actually an obituary list. Perhaps you will be mailing to a nursing home. The key to knowing whether the lead is an authentic probate lead or whether or not a case number is included. Every probate file has a case number. If you do not get a case number, it is not probate! Also, you should make sure that the executor information is included, as well. This is the decision maker that has been assigned by the court to liquidate the property.
Once you ferret out the probate filings in your locale, tenacity is the key as in all other forms of marketing. Those executors have varying times to sell. Some want to sell yesterday. Some want to sell a few months down the road after cleaning house. Some want to sell later on to get closer to the kids. In other cases, the probate process plays out, the property is reverted to the heirs, and the heirs have an itch to sell. Whatever their time frame, we can say that when they are ready to sell the property, they want to sell quick.
Consider creating a website that is dedicated to probate. See some sample sites that are tailored to probate here. Having a probate site establishes yourself as a probate expert, builds empathy and rapport with the executor, and educates the family on the process. Many grieving families that would not otherwise warm immediately to a stranger would go to a website to access your resources and learn more about why they should work with you.
In future posts, I'll bounce some ideas around as to what content to include on such a site.
Till next time, A-B-C. Always be closing!
What is the Purpose of an Appraisal?
A mortgage has many specific pieces involved in it. Obviously there is the money supplied by the lender to pay the seller for their asking price. There are also many other items such as the title report and title insurance, a survey (sometimes), proof of homeowner insurance policy and an appraisal. An appraisal is actually one of the more important pieces and yet it still brings questions from buyers and sellers alike.
Required by the Lender
First and foremost, if a home is being purchased through the use of a mortgage then the lender will require a formal appraisal. A licensed appraiser works independently of the real estate agent and the lender to ensure that there is no undue influence on the process. The appraiser’s report will indicate if the home is worth the asking price.
Appraisal ordered after a Selling Price has been negotiated
The appraiser is contacted after the real estate agent(s) and all associated parties have worked out a price for the home. The appraiser will look at the contract along with a host of other items such as
* Square footage of the home
* Local property taxes for the home
* When the home was built
* General shape and condition of the property
* Average sales price of similar homes in the area
The price for the appraisal depends on the area of the country. Sometimes the appraisal fee is paid by the borrower up front and other times it may be paid as part of the closing costs.
Wise to Inspect First and Appraise Second
In an ideal world the buyer of a home would hire a home inspector to review a property before the home is appraised. The job of an inspector is to seek out any potential problems with the property. This can be as simple as finding a loose door knob to as complicated as finding out the entire heating and ventilation system needs replacing. Once the inspector has looked at the home the appraiser can approach the property with some idea of any possible short comings of the home and assign the correct value to the home. In a worst case scenario an inspection could lead a buyer to cancel a contract and look for a different home.
The Journey of the Appraisal
Once the appraiser has finished the report a copy will be sent to the mortgage lender and possibly the real estate agents. If the buyer paid for the appraisal up front then they too will get a copy when it is complete. Otherwise, the buyer will receive a copy at closing.
The lender, whether it is a bank or local mortgage company, will have their own process to review the appraisal and ensure the numbers look accurate. If the value of the home is much lower than expected then the lender may cancel the loan. On the flip side, if the home is determined to be worth more than the asking price then the buyer will have instant equity.
I received a call a few weeks ago from an agent in Tampa (I'm in Jacksonville) requesting that I list an REO for him and he would pay the referral fee. He then asked me to do a BPO and send my vendor out to rekey the property which was done and he would pay once I sent all the docs and invoices.
I'm sure you know the rest of the story. He's never paid or listed the property in my MLS. Now he won't even answer phone calls. I have had to pay my vendor so of course I got the lockbox back and took the keys.
Beware of unscrupulous realtors. They give real estate a bad name.
One key component to becoming a successful real estate agent is to start getting better reviews and more of them. How does a realtor get the reviews they so richly deserve? To convert a potential client to sign on the dotted line, often the defining factor is whether the agent must be well liked or well reviewed.
Most of the time the job of the potential client is to find that perfect real estate agent who retains the key qualities they want to see written on a resume are local knowledge, negotiation skills, responsiveness and process expertise. If you have those four qualities then you are probably a successful agent. Successful real estate agents have such qualities and the reviews will come if you can tick five stars in those fields.
You cannot expect that review to be completed automatically. In fact, eight out of ten clients won’t bother actually writing or completing a review unless they have been specifically asked. An agent can email, text or politely call the client after the sale and request that they write a review.
I knew one agent who would specifically ask their client, face to face for a written review or recommendation when dropping off a house-warming gift after the close. That way the gift would be a constant reminder to make sure the review is completed. So dangle that carrot. It is not as if an agent is buying a review, just thanking the client for their time and effort in completing the review.
An agent should mention reviews from a very early stage. If you leave it until the day after a sale has been completed, the client may believe there is little importance attached to it. Make the request for the client to complete one, part of your business practice.
It is also worth the time and effort for real estate agents to help clients fill in their review forms. When someone looks at a blank screen and tries to think of the words that will form their review, often there is a moment of writer’s block or difficulty in coming up with the right words. It is not OK for a real estate agent to write a review for the client, but it is fine for them to cite examples.
So get out there and start asking for those reviews. With so many real estate agent websites out there, you are sure to improve your reputation and increase those sale.
Pam’sVAS – Real Estate REO and BPO virtual Assistant Services.
Sellers, there are more expenses to selling your home than commissions if you're not ready to sell. One of worst things a seller can do is overprice his/her home when it first comes on the market. A small overage is one thing, but when that overage hits 10, 15, 20, 30% and beyond, it's like burning dollars in your furnace to stay warm.
What are the unrealized expenses of overpricing a home? I only say unrealized because it seems that sellers are the last ones to realize the costs of overpricing. Let's assume the house is in good condition, ready to show and is in a good location, but it's priced too high. What are the unrealized costs?
A house that sells quickly is just as likely to sell quickly because it was listed well rather than because it was listed low. When you hire an Realtor to sell your house, make sure your hire one that you have confidence in and then listen to his/her advice and insights into the local market.
A buyer will likely buy another house that is similar if the price is lower. No matter how wonderful your house is, it's in competition with every house on the market. If your house is the most expensive one, it will likely sit longer than similar properties. Think about the unrealized costs of overpricing a home. When you're ready to list your home, give your Cornerstone agent a call for an honest assessment of your home and it's potential for a profitable sale in a reasonable time.
Check out Beth Atalay's blog: You Are NOT Ready To Sell Your House Yet!!
January Home Sales Fall as Prices Continue to RiseThe 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:
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:
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.
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
Once one business cuts its cost to win the contract for nationwide coverage of BPOs and then reduce the price paid to Real Estate agents, we (as Independent Contractors) suffer from the reduced fee structure. Surely other firms will quickly pick up on the idea and say hey why pay more when we can get them for less. Then the pricing wars begin and from there its a "Downward Spiral" very similar to a toilet flushing.
As this race to the bottom accelerates, You'll have fewer and fewer alternatives unless of course at some point you want to work for nothing.
At least ponder this idea before you accept the next Low Fee BPO, Please don't take part in the "Race to the Bottom"
It should go without saying that dealing with probated properties demands a level of sensitivity, beyond the rigors of a traditional sale.
The executor is not merely feeling the loss of a loved one, but there are other dynamics going on. From my experience, the astute investor or agent that can help the executor navigate through these other issues will be successful. In this sense, you are not an investor or an agent - you are a problem solver and in some cases, a social worker.
I recently designed a probate site for an agent that made it a selling point that she can secure the home of a probated property to keep out "self entitled" heirs from removing items and valuables from the probated property. She is doing well working probates because she is willing to enter into this frank, heart-to-heart conversation that doesn't couch words. The reality is, when someone passes, there will be family members that sweep in to claim belongings that they may or may not have an equitable right to. It becomes in many cases a free for all. The agent's call to action was to lock up the probated property like Fort Knox.
In another case, an investor makes it a salient part of their probate marketing campaign to stress that they can remove belongings in a dignified manner, liquidating non-real property assets to generate cash for the estate OR donate items to charity, giving the family a sizable tax write off.
I can go on about stories, but the quintessential point is that when working probate, you are less a real estate professional, and more social work. Oftentimes being a referee between heir in-fighting,
When subscribing to a list of probate filings, some clients love us. Some of them hate us. It all boils down to the results. And among the successful agents and investors that are getting more inventory, there is one common denominator, I have found: They have a mindset of solving problems, and not just listing the house or buying the house. Their fundamental value proposition when working probate is to restore normalcy in a thorny process that often wedges family members against each other. As if listing the home - or buying the home - is almost an afterthought.
It's really capsulized in the entrepreneurs creed, a plaque hanging on my wall that says in essence, "We are only compensated to the extent that we add value to other people".
In other words, when working probates, listing or buying the real estate is the end goal, but what precedes it is building empathy and trust and creating harmony. The rest will follow.
My job is to craft this message that resonates with executors tasked with the honor and burden of settling their loved one's estate. If you'd like to have a website dedicated to probate, get in touch.
