December Metro Milwaukee Real Estate Discounts for Buyers

From the Desk of Bob Arnold:
Could this be DISCOUNT DECEMBER for Milwaukee Real Estate buyers?

Year end Bargains? Yes! When it comes to real estate, this could be a December full of them. Not a bad thing for buyers!!!  In the Metro Milwaukee area, December has always been a rough month for home owners that are thinking of selling - as a “what should I do?” month. They are thinking “it’s going to be a long winter in Milwaukee,” especially after the last few weeks of inclement weather. Sellers are facing taxes being due, home expenses are going up, outdoor work has been left unfinished and possible painting and concrete work hasn’t been completed because of the early cold season. These are all good things for a buyer, as these items could help with prices coming down or to negotiate when purchasing. It may not be the case with all listings, but the odds are in your favor.

If a listing does come on the market at this time of year here in the Metro Milwaukee area, it is often because a seller truly needs to sell their home. Most often home owners that are not selling out of necessity will wait until after the New Year to list.  After the first of the year it is a whole new market with new buyers. With January comes buyers with new goals to purchase a home. These are people that were not even thinking about buying a home in 2014. If you are one of those people considering beginning your home search, call me, Bob Arnold, to help you get started! After the first of the year the market gets very active, buyers are anxious, and sellers will start to push pricing up on new listings. This is due to a continually increasing market that has seen consistent growth over the last few years.

The US Commerce department reported, for the third straight month, that October single family home sale prices increased. National single family homes sales are up 15.4 percent from last year at this same time.  

Looking for some help? Interested in sitting down and discuss the Milwaukee Real Estate market? Know a first time home buyer needing some assistance? Please have them contact myself, Bob Arnold or visit my web site www.Move2Milwaukee.com.

 Bob Arnold

"Specializing in Results"
www.Move2Milwaukee.com
Realty Executives Integrity
414.379.1101 Text/Cell
Please follow me on twitter and facebook
http://twitter.com/Move2Milwaukee
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"JS 3 Year  Realtor of the week"

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
Please follow me on twitter and facebook
                                                          "Specializing in Results"

Milwaukee and Mequon Real Estate for 2014

New Year changes in the Real Estate market.

How is the Metro Milwaukee Market doing you ask?

While November 2013 sales were down in comparison to November 2012, they were up by compared to 2011. The GMAR does not see the November report as a sign of future performance, but a regular seasonal slowdown. The decrease in regional sales was foreshadowed by a slowdown in foot traffic at open houses this late fall. This is not an unusual development in a 4^th quarter market. Early snow and cold weather didn’t help as well.

 
The low inventory level presents an opportunity for potential sellers to jump in the market.

Overall, for the year the 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.

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.

3)       Interest rates will rise.

4)       FHA Guidelines will be changing in 2014. The dept to income ratio will be changing from 55% to 43%. When will this happen, is not known for sure, some are saying late 1^st to 2^nd quarter. How will this effect you as a buyer? Email me to find out.

What should you do?

Now is not the time to be a couch potato!!! 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.

Why is this happening?

On December 18, after months of investor speculation, the Fed announced that it will begin to scale back its bond purchases, so a reduction is clearly negative news for mortgage markets. However, there has been very little change in mortgage rates since the announcement, demonstrating that the Fed successfully communicated its intentions to investors.

Strength in the labor market, housing, manufacturing and other areas helped convince Fed officials to taper at this time. The economy has added an average of nearly 200K jobs over the past three months. Third quarter GDP growth rose to 4.1% from 2.5% in the second quarter, which is the broadest measure of economic growth. 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.

2013 was a great year. 2014 will be just as exciting for our market. Interest rates jumped from 3.5 to 4.5 overnight in May of 2013. 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.
Thank you and please free to pass this on to anyone you know that might be looking to purchase.

"Specializing in Results"
Bob Arnold
www.Move2Milwaukee.com
Realty Executives Integrity
414.379.1101 Text/Cell
414.921.0899 Fax
Please follow me on twitter and facebook
http://twitter.com/Move2Milwaukee
www.facebook.com/Move2Milwaukee
"JS 2 Year Realtor of the week"

The Perfect Storm?

Now may be the best time to sell your home in Mequon or the Northshore. We are in the perfect storm. Great interest rates. Limited or need for listing and 4-5 years of missing buyers now looking. Yes the market is price sensitive. $600,000 and under is very active. But what will happen if interest rates go up like they are predicting at the end of the year? Or, More sellers decide to list and increase the amount of listings on the market and make it competitive? Or ? We know what the market is like now and NOW is the time to sell if you are serious. Even the Mequon condo market is even the best it has been in 5 years. What do you think about the market? Do you want to know what your home is worth in today’s market? Just contact me.

Bob   

April Update

Bob Arnold says “Don’t Blink!!! Or it might be gone”

That’s what it feels like in some of the markets. Activity in some areas is as high as, 50-60% active market, with accepted offers more than active listings.  March 12, 2013 GMAR report stated  – While the market is strengthening, it is still too early in the year to say with any confidence that the Milwaukee market will see universal price increases this year. It is still a buyers’ market, but just slightly.
The law of supply and demand would seem to dictate prices should increase soon. With a low supply of homes, stable or increasing demand, historically low interest rates, and positive external factors such as consumer confidence and employment, prices should be pushed upward as buyers outbid one another for a listing. The still very low interest rates make it a market buyer should not pass up. It is not unusual be involved with multiple offers on properties. As busy as the market is we haven’t even hit the peak yet. Buyers are still coming out thinking the spring market is just starting…. Ha Ha!. Warmer weather and pent up demand will create a very busy year.  Remember we have 5-6 years of buyers built up.
Choosing a full service, full time Realtor is especial important in this market. Either selling a home or looking to purchase, an active experienced agent is almost a must and will save you money purchasing and make you more money selling. The offer/negotiating process is just the tip of the iceberg. Home inspections, financing, all play an important part of the buying prices.  Good negotiating skills and experience are still some of the most important assets in a good agent in today’s market.

Thanks,
Bob Arnold

Did you know?

Did you know there where only 20 foreclosure listings sold in Mequon/Thiensville all of last year, Vs 88 in all of Ozaukee county and HOLD ON 1,464 foreclusre listing sold  in Miwlaukee county?
Currently in Mequon/Thiensville there are only 7 Foreclosures and 4 have offer. A much better year is planned while many of the national banks are starting to lay off their floreclosure and work out staff. How do you feel about the current market and soon to be spring/summer market?

Now is the Time to Buy Mequon Says Northshore REALTOR Bob Arnold

Arnold said he is seeing the market turn with relocation buyers as well as move up buyers having confidence in the market and taking advantage of the historic low interest rates while larger more expensive homes are still affordable.  

Metro Milwaukee real estate agent Bob Arnold, the two-time Milwaukee Journal Sentinel Realtor of the Week, is seeing the buying trends of high end buyers changing as they come back into the market. 

“Great values make it a great time to buy in the current real estate market,” said Arnold. Ozaukee county is a secret just starting to open up again. The low tax rate, great home values, larger acreage, privacy yet close to amenities are drawing interest to buyers.   

Arnold invites home buyers to experience this Stunning custom Mequon home with exceptional quality charming at 13340 N. Hawthorne Ct.Mequon 


The Hawthorne Court home features:

* 13 rooms open concepts colonial - 5 large bedrooms, 3/2 baths
* Grand Master suite with office and fireplace and 
*  3 room Guest suite
* Grand Cooks Kitchen with granite counters
* A large sun room overlooking a very private, picturesque back yard and pond
* Formal dining room, hardwood floors, 4 fireplaces, Great room with cathedral ceiling
* Outdoor patio with summer kitchen
*  6 car garage plus work shop
* 7.5 acres, horses allowed

Interested parties can visit the home online or with Bob’s new Mobile marketing   Text 79377 to 35620 for a Virtual Tour and Youtube video ! View photos here. For more information about this home, to schedule a private tour, or to get more information about Milwaukee, North Shore and, Mequon call or text Bob Arnold’s team at 414-379-1101 or visit him on the web at move2milwaukee.com.