Blog

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

is anyone aware of how much the 2nd lien holder gets, I was told by one lender the amount is 12,500.00

Real estate agents are small business owners trying to earn an income and gain wealth. They have to steer their business through rough waters, deal with decreases in commission, handle difficult clients and compete with hundreds of other agents in the industry. You need a road map for success so you don’t get lost.  This article will show you how to winterize your real estate business.

Throughout the winter months, it’s cold, but your business doesn’t needs to! The general consensus in the industry is that agents experience a “slow down” time.  Buyers and sellers want to enjoy the holidays and not be trudging through the cold and the snow.  However, here are a few things real estate agents can do to prepare their business for this downtime.   

Agents can infuse “warm-weather” strategies into their business at this time.  They need to convince buyers and sellers that contrary to popular belief, winter months really are a good time to buy or sell. 

Here are a few tips on how to winterize your real estate business and convince buyers and seller, who would otherwise wait for spring, to buy and sell during the winter: 

Revive your market data

Debunk slow market myths.  Revive your local market statistics.  Show your sellers data that will support the fact that for the past few years the seasonal decline in the winter market is over-played.  Buyers who are looking in the winter are just as serious about signing on the dotted line as their fair-weather contemporaries.

Enhance and update your photos

During the summer months, curb appeal is one of the key components to drawing buyers.  A warm and appealing front yard can be used as a featured piece.  However, this tactic bombs out when it’s cold outside. Help your buyers and sellers use their “five senses” with your listings:  (1) make your photos look warm and inviting by using seasonal colors and holiday décor to create an amazing front yard to convince buyers that a home is worth viewing; (2) play holiday music in the background when they view your photos and the house; (3) make sure that when they view the house, stage fresh baked goods, mulled cider and scented holiday candles, just to name a few.

After you’ve re-staged the outside and inside of the house with holiday décor and call your professional photographer. The updated photos should show the interior of the home is worth looking at.  The more features you can show, the better chance you have of influencing buyers to view and purchase the home.

Sharpen Your Focus During This Time

Sharpen your focus on Expired and FSBOs during this time. When you go on a listing appointment in the winter months, offer free staging as a “winter selling bonus” if you think you might have to compete for the listing. A winter selling bonus of free staging can put you ahead of your competitors to get the listing and will present the home as a front-runner among potential buyers.

Warm The Chill On An Overpriced House

Sellers are may be anxious about listing in the winter and they want to set their price at $50,000 above the market analysis to see what happens…not good!  In order to sell a home in the winter, you have to list it at the right price.  As their agent you don’t want the listing to sit for the whole winter without an offer because it’s overpriced. Unrealistic pricing is a sure fire reason for the sellers to dump you and re-list with your competitor in the spring. It is imperative that you make sure your sellers understand that the right price will warm the chill and attract serious buyers who are willing to purchase it.

There are many other innovative ways on how to winterize your real estate business. Basically is boils down to being realistic and working smart. The best tactic of all for real estate agents during this time also is not to forget to go back to basics.

Finding that Elusive Starter Home

The past few years have brought several changes in the real estate industry. The housing bust of 2006-08 led many people to either sell or walk away from their home. As the market is continuing to rebound, many investors have scooped up homes at affordable prices and are offering them as rental properties. In addition, other investors have bought homes at discounted prices with the sole intention of selling them at near-full value for a profit. So the question remains; how does a first time homebuyer find an affordable starter home?

Consider a Different Location

Too many times a young person or couple will buy a home in hopes of expanding their family. That leads to choosing a home that is convenient to good schools, nearby shopping and plenty of entertainment activities. However, for people that may be a few years away from starting a family, the location should be different. Buying a home within the city limits, for example, where the owners can be extremely close to work, could be a better fit.

Consider an Older Property

Younger people often get caught up in the dream of buying a new home and settling in with the smell of fresh paint and recently rolled carpet. However, new homes usually have a much higher price than older homes.

While it is true that an older home may either need a bit of repair before purchase or more maintenance compared to a newer home, the savings in purchase price can often offset the repairs and maintenance expense. In addition, young ambitious people may be able to tackle some, or all, of the maintenance and repairs on their own which can save them more money in the long run.

Tone Down Expectations

A starter home is simply a way for most people to get experience with the entire home buying process. This means that potential buyers should look at the home as a learning experience. Most individuals can get by with far fewer amenities than what they are accustomed to. Or, instead of giving up nice amenities, it is possible to buy a much smaller home and save up for a bigger home in the future.

Have Financing in Order

Since there seems to be a bit of competition for starter homes it is wise to have the financing in place before looking for a home. Putting an offer on a home with a firm pre-approval letter from a local mortgage lender will make the whole process smoother and give you a better chance of getting your offer accepted.

It may take some time, but with a little patience and realistic expectations a qualified borrower can find that starter home that will set them on the path to achieving their financial dreams.

↓↓Start your home search today!↓↓

[Janesville Area]

http://www.JanesvilleRealtor.com

[Madison Area]

http://www.MadisonWIForSale.com