A much improved market?

As most of you know, I am a very statistical person. Statistics don’t lie and I rely on then to give my clients and customers the best and most informative recommendation on the market. I have used Wauwatosa in the past as a bench market in the past for evaluating the Metro Milwaukee Real Estate market. Below is an evaluation of single family home sales over the last three years in the metro Milwaukee area. This will give us a yearly snapshoot of the changing market and market trends.

Currently there are only 2 homes in Wauwatosa under $100,000. Last year 33 homes sold in Wauwatosa under $100,000, 2011  40 homes sold under $100,000 and in 2010 22 homes sold under $100,000.

Lets take a look at a few other communities.

Grafton/Cedarburg only 1 home currently on the market under $100,000. 6 homes sold last year under $100,0000 and 12 in 2011

City/town of Waukesha has 14 homes currently on the market under $100,000 98 homes were sold ion 2012 under $100,000 and 57 homes sold in 2011

City of Milwaukee ( I had to keep the cap at $50,000 because the number were so great) There are currently 445 single family homes available in the city of Milwaukee. 2012 sales for single family homes were 1,528, in 2011 there were 1,209 and in 2012 there was 870 home sales under $50,000

So what was the worst year? Has the market changed?

This doesn’t mean that the market is going crazy and you will not be able to purchase a home, but, it does mean that the bargains are going away fast and the market is starting to increase its prices.

What does this mean for you in your home search? Unfortunately it isn’t going to get easier. The new year always bring out new and more buyers. The secret is definitely out . IT IS A GOOD TIME TO PURCHASE A HOME OR CONDO!

If you are a serious buyer in today’s market, I would encourage you to not only to actively look at homes, but when you find the right home, act quickly. Multiple offers are not unusual in todays market. In a multiple offer situation you are now competing with other buyers and loose negotiating power.

Happy New Year!

A New Year brings new opportunities for both Buyers and Sellers. 2012 has turned out to be a very good year. GMAR reported that  “November sales of existing homes in the 4-county Metropolitan Milwaukee housing market were up 24.2% compared 2011. For the year, sales are up 25.7% compared to 2011 and up 29.4% in contrast to 2010 as buyers take advantage of historically low interest rates and low prices, although availability is limited.”

What does this mean for you in your home search? Unfortunately it isn’t going to get easier. The new year always bring out new and more buyers. The secret is definitely out . IT IS A GOOD TIME TO PURCHASE A HOME OR CONDO! 

Do Holiday Sales Include Homes?

Dear Buyers and friends of Buyers, 

I am keeping buyers that I am working with up to date with the ever so changing market. As the market continues to change weekly the question is asked are homes not only for sale but this time of years are there Homes on Sale.  The answer is yes. If you want the best possible deal on a home, this time of year is the best. Sellers do not like carrying cost during the winter; taxes are due, WE energy cost go up and if it has been on the market for a number of months there is always the question when will it sell. I have found the sellers are more flexible with pricing during an offer the month of December. January usual starts our spring market and with will bring more buyers and hopefully more listings.

While home sales continue to increase( October sales of existing homes in the 4-county Metropolitan Milwaukee housing market were up 32.8% compared to the same time in 2011), the lack of listings in most areas continue to make it challenging for buyers. I know its hard to believe, but buyers are experiencing not only a competitive market, but limited inventory and with still some challenges in financing. Even though the REO/foreclosure market is staying strong and expected to increase, buyers are unable to purchase most REO homes with conventional or FHA financing and minimal amount down.

 If you are a serious buyer in today's market, I would encourage you to not only to actively look at homes, but when you find the right home, act quickly. Multiple offers are becoming not unusual in today's market. In a multiple offer situation you are now competing with other buyers and loose negotiating power. The spring market is just around the corner, with the lack of inventory we are forecasting prices increases and even more buyers.  Interest rates are great and as of now look to be holding. Historically, there has always been a after election increase in Real Estate sales as well as increase of interest.

 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 or homes you would like to look at.
Thank you and please free to pass this on to anyone you know that might be looking to purchase. 

Dear Buyers,

I try to keep buyers that I am working with up to date with the ever so changing market. Lately, I feel the market has been changing weekly. The lack of listings in most areas and the increase of buyers have really made it a challenging market. I know its hard to believe, but buyers are experiencing a competitive market, limited inventory and still some challenges with financing. Even though the REO/foreclosure market is staying strong, buyers are unable to purchase most REO homes with conventional or FHA financing and minimal amount down. If you are a serious buyer in today's market, I would encourage you to not only to actively look at homes but when you find the right home, act quickly. Multiple offers are becoming not unusual in today's market. In a multiple offer situation you are now competing with other buyers and loose negotiating power. The spring market is just around the corner, with the lack of inventory we are forecasting prices increases and even more buyers.  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 or homes you would like to look at.

Thanks,

Bob Arnold

Bob Arnold offers advice to homeowners looking to sell house

Home owners looking to sell a house have many questions and Milwaukee area real estate agent, Bob Arnold is offering advice to make the process easier.

“There are many Real Estate companies and agents to pick from just as there are many law firms, accounting firms and other professional organizations to pick from,” says Bob Arnold of Realty Executives. “Is it the real estate agent or the real estate company you are hiring? That question is debated over and over. “

Arnold believes the real estate agent is the direct link to the company and the person those looking to sell a home will have a relationship with and work with for the length of the contract.

“You are the CEO and CFO of your home and the final decision maker of what happens to your home,” says Arnold. “The agent is working for you. A good agent will offer advice and recommendations as any good consultant would do. It is up to you on how you use the information given. I recommend meeting with at least 3 Real estate agents and compare what they say before making a decision on who will list your home. “

Arnold offers these questions for customers to have prepared to ask agents in an interview. These are questions that might help when interviewing real estate agents for the job of listing a home.

Does your agent provide a custom marketing plan specifically for your home including: internet, social media, print, mailings, email and open houses? How many web sites will the home be on besides the company web site? Will it be on Trulia, Zillow, Realtor.com and more? Will it get exposure outside the Metro Milwaukee area? Will it have it’s own web site?

A Picture is worth a thousand words. Surveys show buyers look at photos before they read the copy. Ask your agent how photos will be used to impact your listing and in what order and why? How many photos do they take?

How technology, computer and smart phone savvy is the real estate agent? Do they use social media such as Facebook and Twitter? Does each individual home have its own custom webpage and YouTube virtual tour? Does the real estate agent have a team of technology experts behind them? How easy are they to contact?

What is the real estate agent’s home staging and preparation strategies? Most home buyers make up their mind on a property within the first 10 seconds of their arrival. Only 10% of home buyers can actually visualize the potential of a home. Does your agent provide home staging?

The Price has to be right. Trust the agents statistical CMA. A home has the greatest chance of selling when it is newly listed. Pricing a home correctly from the start, will help it sell in the shortest possible time frame.

Check out the new Bob Arnold video on Youtube for selling homes: http://youtu.be/zh3fkJBz378

Now is the Time

It is a GREAT Time to Buy!!!

Are you renting and want to know the advantages of Buying vs. Renting?

Are you moving up in the market?

Bob Arnold, a licensed Realtor with Realty Executives gives us 5 Reasons to BUY Real Estate in the current
Real Estate Market

1) Falling prices in our late fall market

2) Great interest rates. (the best in years with 30 mortgages as low as 3.75%)

3) 3 ½ % down is all you need to purchase a home in today’s market. I can usually get the closing cost included in
an offer to also help buyers with cash needed at closing.

4) Buyers are in control when making an offer and negotiating (less chance of multiple offers through the end of the
year as well as sellers not wanting to carry homes through the winter)

5) Motivated fall sellers (as spring comes buyers will not be as motivated, new listing will be on the market with
higher prices and higher percent of buyer as always in the spring, there)

6) 2012 tax deduction

GMAR announce recenlt thatThe 4-county Metropolitan Milwaukee housing market increased 29.2% over July of 2011.

Historically low interest rates, low prices and improved consumer confidence have helped the market tremendously;
generating double-digit sales growth for more than a year.

July continued that trend of decline in homes listed for sale resulting in inventory levels not seen this low since the early
2000s.

The combination of high sales and low inventory appears to be placing some pressure on prices, via multiple offers on homes,
not in initial listing prices. In fact, the 2nd quarter of this year we saw two counties with price increases. Prices in Washington
County were up 1% and Walworth County was up 1.3% over the 2nd quarter of 2011.

As Wisconsin continues to improve economically, home sales have increase. There is a pent up demand for homes,
both selling and purchasing.

Recommendations to Buyers, beat the curb and be in control. Start looking now and see what is out in the market.
If you are moving up in the market you are capturing a double advantage, while purchasing a home at a much
higher reduced percentage than selling your own home.
For more Information on the market or if you are looking to purchase contact Bob Arnold or visit
www.Gr8time2buy.com
Please visit my youtube video on the “Home Buyer process” http://www.youtube.com/user/move2milwaukee

Take Action Before You Miss Your Chance!

As of 1st week in September in the Metro Milwaukee area

• Ozaukee county single family homes only 28 Reo's/ foreclosure currently on the market. Priced $59m to $649m
• Ozaukee county single family homes only 72 Reo's foreclosure sold so far this year 2012 sold prices $28m -$550m Waukesha county single family homes only 372 Reo's foreclosures sold so far this year
• Waukesha county single family homes only161 Reo's foreclosures currently on the market $37m-$1,900mMilwaukee county single family homes only 395 Reo's/foreclosures currently on the market
• Milwaukee county single family homes 1,145 Reo's/foreclosures sold so far this year.

What does this all mean. If the market mirrors the fourth quarter of last year, which i think it will. Investors will be buying as much as they can. Reo sales for Milwaukee county are up almost 30% from last year at the same time. We are seeing prices starting to go up and the amount of foreclosure homes available to ppurchase go down and sell much faster. The year end is a time investors and flippers like to purchase. Flipper purchase this time of year because prices are lowest and he scan have the home back on the market in 2 quarter of 2013. The spring market is always our strongest.  If you are a serious flipper or investor start looking now with a goal to purchase before the end of the year. Please feel free to contact me with any question or if you are looking to purchase.