Metro Milwaukee Market 2014 Market-LOOK OUT 

2013 year end statistics from GMAR showed a 9.9% increase from 2012 in home sales in the 4 county area. Within the metro Milwaukee real estate, home prices have increased an average of $14,492.00 in the 4 county area. As we move forward into 2014 the low inventory level presents an opportunity for potential sellers to jump in the market.

Fewer foreclosures has had an impact on the market with foreclosures down over 40%.Overall. The New Year market is proving to be “balanced,” in contrast to the wild swings we saw over the last decade. Sellers should not assume they will get whatever they ask for, and buyers should know the days of deep discounts are gone. While some of the increase in GDP was due to a buildup in inventories, investors and Fed officials are optimistic that we are entering 2014 with a solid pace of improvement in economic activity.

What is on the horizon for 2014?

1)     We expect single-family home sales and housing starts to be at the highest level since 2007, and expect multifamily transactions and construction to post gains as well.

2)     Inventory will remain tight as price continue to climb.

3)     Interest rates will rise. They predict up to 5% by year end

4)     Lending Guidelines will be changing in 2014. The dept to income ratio will be changing from 55% to 43%. Although some Banks/lenders are still using the Freddie, Fannie and FHA guidelines of rations it is very inconstant.

5)      Lender will be under tight guidelines with buyers being qualified as a QM (qualified mortgage) This went into effect January 1^st.

Bottom line, it is not going to get any easier to get a loan and interest rates will be going up. Now is not the time to be a couch potato or sit on the side lines!!! If you are thinking about purchasing, now is the time to start looking. Call me, text me or email me! If you need help finding a lender, questions on the market or how do I start? Let me help you.

2013 was a great year. 2014 will be just as exciting for our market. In May of 2013 interest rates jumped from 3.5 to 4.5 overnight. Don’t wait for the changes in 2014. As I have continued to say "Beat the curve, be in control". Let me know what I can do to help you with your search. Call or email me any time with question about the market or homes you would like to look at. Feel free to search for h9mes on line at my search site www.M2Mhomesaerch.com

Thank you and please feel free to pass this on to anyone you know that might be looking to purchase.

Sincerely,

Bob Arnold
www.Move2Milwaukee.com
Realty Executives Integrity
414.379.1101 Text/Cell
414.921.0899 Fax
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