Congratulations and welcome to Ez1 Realty, your one stop source for all your local Real Estate needs in Menonomee Falls and Milwaukee, specializing in moving homeowners into better homes.
Congratulations because your questions and requests for service go directly to an experienced local Real Estate Agent – not a pool of agents bidding for your contact information. If you like the old fashion open, honest, face to face way of doing business, your gonna love working with Ez1 Realty. Work with an experienced Real Estate Agent who can
represent you to negotiate the best deal for you which includes more
than price. There is new technology available in the Real Estate field that makes it more
important to find an Agent able to take advantage of those new tools to
serve you more effectively. Combine this new Technology with an Agent having enough experience to
treat you as an important client with the attention and respect you deserve and you have a winning combination to make all your Real Estate transactions Ez-er.
This news is scheduled to be released in early May but I have up coming details now.
For a limited time, if eligible, you may receive $15,000 for down payment assistance for the purchase of a primary, owner-occupied residence in the city of Milwaukee. The assistance is fully forgivable after you live in the home asyour primary residence for five years. Contact me for more details. There are only a limited amount of loans so don't wait.
Selling your property? I love listings because it allows me to enjoy the artistic side of the business -- pictures and a great write up. Enjoying the artistic side of business shows up in all the aspects of business. Ez1 Realty offers the BEST value in a personalized package to match your needs and experience. Our most popular package takes care of every detail for you, so you don't have to worry about a thing. Sell with confidence knowing you'll receive the best service while paying the lowest commission.
Buying a home? We can guide you along in every step of the process, from finding a lender, viewing properties, identifying concerns, writing a viable offer to purchase, inspections, and closing issues. We never charge buyers a fee.
Outstanding Service is a Choice. How do we offer the best local value in Real Estate? The greatest expense in Real Estate is lead generation... in short advertising. The early days of the Internet offered effective, low cost advertising – a savings few Brokers passed along to clients. The days of low cost Internet advertising are long past. Low cost advertising gave way to a small group of Internet conglomerations controlling the majority of the market. Like every other industry controlled by a few entities, prices quickly escalate. Some of these companies take advantage of loop holes in the law to collect and sell Real Estate leads and personal information for other purposes. Ez1 Realty refuses to do business with these companies – and refuses to compromise one letter of the law. In short, Ez1 Realty passes savings along to its clients!
Ez1 Realty refuses to purchase Internet Leads and offers you the exclusive promise to never share your contact information in an effort to make a couple of extra bucks. We treat Real Estate, your confidence, and your privacy seriously.
If you signed up on one of the major Real Estate web sites and
provided your email address, chances are all the Internet sites you
visit are being recorded and that information is being sold. I've
been contacted by a number of web sites selling or giving away your
personal information. I can assure you, searching on this web site
will not attach any tracking applications nor will I purchase any
information sold on potential Buyers and Sellers. I personally
consider such acts an invasion of privacy. If you agree – I am the
Real Estate Agent for you. Let's get back to doing business the old
fashion way – a relationship built on trust and respect.
It seems I am not the only one who is calling a halt to the business practices of some of those online businesses. Here is an article I was sent.
Eight Austin-based real estate brokerages are taking a cue from their local Realtor association and will no longer send their listings to real estate portals not affiliated with a Realtor trade group.
Earlier this month, the Austin Board of Realtors announced that as of April 30, 2014, it would no longer distribute its members’ listings to third-party listing portals through listing syndicator ListHub, citing concerns about unethical business practices and inaccurate listing data on third-party sites. Members would then be free to decide whether to syndicate their listings to third-party sites on their own.
To compensate, Ez1 Realty invests in using the latest technology to operate more efficiently – which makes home selling and buying Ez-er on you. If your at a comfortable level with Real Estate contracts, with your permission our EZ sign system can prepare all the contracts to your specifications and send them to you via one of the best and most secure eSIGN programs. You can sign contracts on your phone or computer! If your more comfortable with face to face meeting, we can go over every detail of the the contract in person before you sign. Your comfort level is the most important concern at Ez1 Realty.
I hope you find all the information you are looking for --- and don't forget, I am only a phone call away. 414-426-1784. Or E-mail me at Dherman@Ez1Realy.net. I promise to keep your information confidential. I'll handle all the spam E-mails and phone calls, freeing you up for more important matters. Home buying and selling should be fun.
Make a list of your needs and desires. A new home should have everything you need and most of what you desire.
Begin your search early. Keep up to date on current market conditions and price trends, interest rates and loan programs.
Know your limitations. Don't get involved with repairs and updates beyond your scope of experience and your budget.
Gather a team you know you can rely upon. This will include a Real Estate Agent, Lender and an Inspector.
Having worked with a number of Buyers, I have developed listening skills which allow me to review a number of properties and find those most likely to appeal to the buyer's individual needs and desires. After reviewing hundreds of listings I can present a short list of homes to view. In most cases buyers have chosen one of these properties to become their new home.
Real Estate Sales are stronger than expected for the first 5 months in Menomonee Falls. From January 1, 2013 to June 10, 2013 The MLS shows only 326 single family Listings for all of Menomonee Falls. Much lower than normal. Sellers seem to be holding off, waiting for the market to change.
Out of 326 total single family home listings shown on June10, 2013:
162 are active, 58 have accepted offers
164 have sold since January 1.
That leaves only 104 single family homes available for sale in Menomonee Falls. Prices are on the rise across all price ranges.
Please contact me for detailed information in your neighborhood and price range. You can also request free automatic MLS updates E-mailed directly to you to help track this ever changing market.
Real Estate Videos: First Time Home Buyers
My simple promise is, "provide the level of service I expect when I shop for a major purchase. "
If you are in the early stages of listing your property or interested in keeping up on current market conditions in your area, you now have the ability to quickly enter your property information to receive a free Market Analysis with updates on a schedule to fit your needs. This form will aid in providing you with the most accurate information available. Following is a list of links to these specialized pages.
From this page you can browse all types of properties for sale in Southeastern Wisconsin.
When time is a factor, an exclusive feature to this web site is the ability to offer automatic MLS updates through the use of a quick and easy form, listing the features of the property you are searching for. Following is a list of links to these specialized pages.
If your interest centers on foreclosed homes and bank owned properties, you can list your requirements on the special page dedicated to providing you with information to find the best properties at the lowest market price.
Please feel free to call 414-426-1784 or E-mailfor information on business and commercial properties.
Real Estate News
This Link will take you to older Real Estate News you can use to track local trends in Real Estate..
REALTORS Housing Report: June Sales -0.1%, 2nd Qtr -7.3%
Prices Increase in 2 Largest Counties
Homes Selling More Quickly
July 15, 2014- 4-county Metropolitan Milwaukee home sales for
June were down 0.1% from a year earlier. 1,924 homes sold in June
compared to 1,925 in June 2013.
While June technically marks the sixth straight month that the market
saw a decrease in year-over-year sales, a one-unit decrease is basically
even considering overall sales volume of almost 8,000 units.
Through the 2nd quarter, sales were down 7.3%, 8,593 units in 2013 vs. 7,962 through the 2nd quarter of 2014.
June & 2nd Quarter Sales
June 2013 Sales
June 2014 Sales
2nd Qtr 2013 Sales
2nd Qtr 2014 Sales
4 County Area
A spike in listings in June – up 11.2% from June 2013 – would seem to
lend proof to the theory that home sales were held back in the first
half of the year due to a lack of inventory for buyers to choose from.
However, June was the fifth-straight month of listing growth. The 11.2%
increase in listings pushed the inventory level for June up to
8.5-months, slightly above May’s 8-month level. If the 2,006 listings
with an active offer are subtracted from current listings of 10,274, the
inventory is effectively 5.8-months; a hair above May’s 5.6-month
level. A year ago, June’s effective inventory level was at 5.5-months
June & 2nd Quarter Listings
June 2013 Listings
June 2014 Listings
2nd Qtr 2013 Listings
2nd Qtr 2014 Listings
4 County Area
Prices Increase in 2 Largest Counties
Average prices in the region were down slightly by 0.4% in the quarter,
going from $220,650 in 2013 to $219,684 this year. Milwaukee County
lead the region with a solid 4% gain in prices, 14 of 19 communities saw
average price increases of $6,086 in the county. Similarly, 19 of 29
communities in Waukesha County saw average price appreciation of $3,263.
Homes Selling More Quickly
Days on market reflect inventory levels with all four counties seeing decreases.
Milwaukee and Waukesha Counties dipped below 90-days, and were also the only two counties to see price appreciation.
2nd Quarter Average Price & Days on Market
2nd Avg Sale Price 2013
2nd Avg Sale Price 2014
Days on Mrkt 2013
Days on Mrkt 2014
4 County Area
Despite mixed signals on sales and inventory numbers, area brokers have
not been discouraged at all this year. Buyer interest remains high,
sellers can expect realistic prices (with some move-in ready properties
seeing multiple offers), regional employment numbers are solid, and warm
weather has finally arrived.
It is difficult to determine if June is the beginning of a trend, with
sales at or above the previous year and added supply, but insiders do
not seem to be concerned.
At this point, the GMAR projects that sales for the year will fall in
the vicinity of 16,013 units. That figure is based on the first-six
months of 2014, plus the average of the final six-months over the last 3
Where to go
Buyers should seek the counsel of a REALTOR® in determining their best
housing options, and sellers need a REALTORS® expert advice in making
correct marketing decisions with their home.
The Greater Milwaukee Association of REALTORS® is a 4,000-member strong
professional organization dedicated to providing information, services
and products to “help REALTORS® help their clients” buy and sell real
estate. Data for this report was collected by Metro MLS, Inc. a
wholly-owned subsidiary of the GMAR.
April 21, 2014
I received this from the Wisconsin Board of Realtors. Feel free to pass it along.
When your dealing with me, all important messages and details are followed up with a phone call as well as an E-mail. This is not only the professional way to handle a transaction, it is common sense.
Wire Transfer Fraud Schemes
Fraudsters recently have been hacking into broker's email accounts. After reading emails containing details for an upcoming closing, the fraudsters send a fraudulent email directing the title insurance company to wire the earnest money deposit to an entity owned by the fraudsters. This email appeared to come from the broker's email address. The entity to which the deposit is to be wired appeared to be another title company. If the title company complies and wires the money as requested, the money is stolen by fraud. In some recent instances the scheme was thwarted but in another the money was stolen and is gone.
The original fraud scheme has morphed into several variations:
In one case, the buyer received a phony email that appeared to come from the title company's email account directing the buyers to wire their cash to close to the fraudster's bank account. Fortunately, the title agency had also sent legitimate wire instructions and the buyers called to find out which instructions they should follow.
In another case, the title agency received a phony email that appeared to come from the seller's email account directing the seller's proceeds to be wired to a bank to the account of an entity with a unique name. The email contained numerous grammatical and punctuation errors.
In yet another variation, "revised" wire instructions were received by title companies, redirecting the seller's proceeds to the fraudster's account with an explanation that the revised instructions are directing the proceeds to an investment company or entity owned by the seller or "on behalf of" the seller.
In Madison, the fraudster appeared to send an email that came from the title agent and stated the sellers will not accept a cashier's check and attached the wiring instructions.
What can you do to prevent these schemes? June Potter, Regional Manager ofKnight Barry Title Services, LLC has offered these words of wisdom:
Always phone the broker and all parties involved in the transaction to verify emails asking you to transfer deposits. Use only known, legitimate phone numbers (not phone numbers obtained from the deposit transfer request email).
Be especially cautious when the wiring instructions reference a bank located outside of Wisconsin or an entity other than your actual buyer or seller.
Advise your customers of these schemes and ask them to be on the lookout for responses to emails they have not sent. These response emails may be an indication that their email accounts have been hacked.
Advise buyers not to wire funds to your office without calling you first.
Provide written notification to all parties that revisions to wire instructions will not be accepted without a verbal confirmation.
Add a notification to your wire instruction form that revisions to your wire instructions are not to be followed and that the party receiving the "revised" wiring instructions should contact you immediately.
Take steps to secure your computer system and all email accounts used by agents and employees from hackers.
Date: April 21, 2014
MADISON, Wis. – Home sales dropped for the third straight month in Wisconsin as the frigid temperatures and hefty snowfall continued into March, according to the latest analysis of housing market activity released by the Wisconsin REALTORS® Association (WRA). Compared to March 2013, home sales declined 11.3 percent in March 2014, which contributed to a weak first quarter. First-quarter sales fell 8.5 percent compared to the first quarter of 2013. However, the median price of existing homes rose a modest 1.9 percent to $136,500 over the period between March 2013 and March 2014. Median prices were up 4.2 percent for the first quarter relative to the same quarter last year.
“Even with spring officially arriving in the middle of March, the spring selling season has been slow to gather steam,” said Steve Lane, WRA board chairman. Focusing on the quarterly performance, three of the six regions in the state — South central, Northeast and Central — saw first-quarter sales drop between 5.2 percent and 7 percent compared to the first quarter of 2013. The remaining regions in the North, Southeast and West dropped between 10.3 percent 12.8 percent over the same time frame. Still, Lane noted that the first quarter sales remain above their levels of two years ago — a year that had a relatively mild winter by comparison. “We are hopeful that the spring thaw will jump-start the selling season that traditionally gains momentum in the second quarter,” said Lane. In a typical year, about 31 percent of homes sell between April and June, whereas only about 18 percent sell in the first three months of the year.
Median prices in the state were up by modest margins in March, rising 1.9 percent, but the first quarter rate of price appreciation was somewhat higher at 4.2 percent, due in large part to the 7.2 percent median price increase seen in February of this year. “Sellers obviously love to see prices moving up quickly, but moderate price growth is really preferable, especially given how the economy has grown recently,” said Michael Theo, WRA President and CEO. Real GDP growth was 2.6 percent in the fourth quarter of 2013 after growing at a more robust 4.1 percent in the third quarter. “Still, even with a national economy growing at an uneven pace, there has been steady improvement in the state labor market” said Theo. The Wisconsin unemployment rate fell to 5.9 percent in March. The last time the state unemployment rate was this low was November 2008. “Improving unemployment helps to bolster consumer confidence, which is important for a healthy real estate market,” Theo said.
“We have seen home affordability slipping over the past year due to rising home prices and rising mortgage rates, but it’s important to keep these increases in perspective,” said Theo. Mortgage rates are still in the 4.3 percent range for a 30-year fixed-rate mortgage, which is low by historical standards. At $136,500, Wisconsin’s median prices are well below the national level of $189,000 seen in February this year. The Wisconsin Housing Affordability Index measures the percent of the median-priced home that the household with a median family income and a 20 percent down payment can afford to buy at current mortgage rates. “Although affordability is certainly lower than this time last year, the typical household can still afford to buy 237 percent of the median-priced home in the state, keeping the dream of homeownership attainable for first-time buyers,” said Theo. “As the spring and summer housing markets heat up, this is an excellent time to work with a REALTOR® to realize those dreams,” he said.
REALTORS: Home Sales Down 10.2% in Q1
Deep Freeze Slows Homes Sales -10.2% in 1st Quarter, -14.6% in March
April 11, 2014 – Home sales for the 1st Quarter of 2014 were down 10.2% from a year earlier, and sales for March were down 14.6% compared to 2013 in the 4-county Metropolitan Milwaukee real estate market. The slowdown for the first three-months of the year is being blamed on an exceptionally cold winter.
A decrease in sales is not unusual in the winter months, and given the numerous Polar Vortexes that have descended upon the region, buyers have decided to search online before going out.
1st Quarter Sales
4 County Area
Total sales were down 333 units compared to 2013 for the quarter (2,921 vs. 3,254). Most of the drop off was in March, when sales were down 208 units compared to a year earlier. January and February were down 28 and 97 units, respectively. That is an sign of just how cold and long the winter was, each month saw progressively worse sales performance compared to last year.
Despite a slow market in the 1st Quarter, area brokers expect the market to be on par with (and possibly beat) the 18,203 unit sales of 2013, as the local economy continues to improve and expand; and newly formed households get into the market.
Listings placed on the market increased by 2.7% for the quarter and 6.6% in March, a positive sign that sellers were preparing for the spring uptick in sales.
1st Quarter Listings
4 County Area
The inventory level was 6.7-months for March, a sign of a very healthy spring market. Inventory in the 6-month ballpark is the sweet-spot for listings, because it provides an ample array of choices for buyers without applying too much price pressure up or down. However, after deducting the 1,726 listings with an active offer from current listings of 8,759, the inventory level dropped to 4.8-months.
Keep in mind that these are March numbers, and as the thermometer rises, we will see more listings added to current inventory in anticipation of a busier market in April. The cold weather just pushed off the start of the busy season by about 30-45 days.
Except for the weather, market conditions were good in the 1st Quarter. Interest rates, home prices, and active buyers are situated to fuel a robust spring and summer market.
Sellers should not assume they will get whatever they ask for, and buyers should know the days of deep discounts are gone; a REALTORS® guidance will help both parties purchase or sell a property for a fair price.
The Greater Milwaukee Association of REALTORS® is a 4,000-member strong professional organization dedicated to providing information, services and products to “help REALTORS® help their clients” buy and sell real estate. Data for this report was collected by Metro MLS, Inc. a wholly-owned subsidiary of the GMAR.
Date: March 17, 2014
MADISON, Wis. – For the second straight month, home sales dropped as Wisconsin recorded its coldest winter in decades according to an analysis of February housing market activity released by the Wisconsin REALTORS® Association (WRA). Existing home sales dropped 10.1 percent relative to February 2013; however median prices actually increased substantially, rising 7.4 percent to $130,000 over the same 12 month period.
Historically, February accounts for just 5.6 percent of total annual sales in a normal year, whereas a typical summer month accounts for between 10.2 percent and 11.5 percent of annual sales. “We live in Wisconsin. We expect slow sales in February” said Steve Lane, Chairman of the WRA board of directors. “But we broke many records for cold temperatures this winter, so it’s not surprising this year’s February sales were off the 2013 pace,” he said. Lane also noted rising prices and interest rates also impacted the market. “Weather extremes weren’t the only thing that conspired to dampen sales,” Lane said. “Median prices have grown consistently since March of 2012 and mortgage interest rates have been climbing and are now almost a full percentage point higher than this time last year,” he said.
Sales dropped in every part of the state, with the South central, Central and Northeast regions falling between 5.2 percent and 9 percent in February relative to the same month last year. The West region was down 11 percent and the Southeast region fell 12 percent. Finally, the North was especially hard-hit with a reduction of 16.3 percent. “The decline in sales in the North is certainly understandable given their snow totals and bitter cold temperatures this year,” said Lane.
The median price rose to $130,000 in February, which is up 7.4 percent compared to February 2013. Median prices have increased in all but one month over the last two years. “It’s good to see prices growing, but we hope to see a moderation in the rate of median price appreciation,” said Michael Theo, WRA President and CEO. He noted that although this increase in median prices was very similar to the 7.2 percent increase for all of 2013, the fourth quarter of 2013 saw a median price increase of 5.7 percent and January median prices rose just 2.4 percent relative to January 2013.
“It’s important to remind buyers that Wisconsin housing remains very affordable even in light of these recent price increases,” said Theo. The Wisconsin Housing Affordability Index shows the percent of the median-priced home that the household with median family income can afford to buy assuming that borrower has a 20 percent down payment and is financing at current mortgage rates. The Wisconsin index stood at 245 in February, which indicates strong affordability, even though it slipped from the peak level of 294 seen in February 2013.
Theo also pointed out that even though the national economy grew at a less-than-robust pace, with real GDP up just 2.4 percent in the fourth quarter of 2013, the Wisconsin labor market continued to make modest improvements. The state added approximately 27,600 additional jobs between January 2013 and January 2014, and the unemployment rate dropped a full percent to 6.1 percent over that same period, according to the latest data released by the U.S. Bureau of Labor Statistics. “Although the housing market has definitely tightened over the last year with declining inventories and higher prices, excellent opportunities still exist for buyers and an experienced REALTOR® can help you find the best value in this market,” said Theo.
In its entirety, 2013 proved to be a good year for housing. Home sales and prices were broadly higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs. This, of course, varied by location and segment, but the proverbial glass appeared to be more than half full throughout the year.
New Listings in the Milwaukee region decreased 6.9 percent to 916. Pending Sales were down 21.1 percent to 678. Inventory levels shrank 9.3 percent to 6,227 units.
Prices marched higher. The Median Sales Price increased 8.2 percent to $167,700. Days on Market was down 8.8 percent to 91 days. Absorption rates improved as Months Supply of Inventory was down 15.4 percent to 4.6 months.
Housing is fortified by confident consumers and good jobs. The year 2013 was marked by a slowly improving labor market stunted by political gridlock, and the Federal Reserve's long-awaited taper announcement was not surprising. Interest rates remain low (but upwardly mobile), prices are still affordable, the employment picture looks decent and the stock market is up nearly 30.0 percent from this time last year. It's no wonder that buyers were active in 2013. Here's to more of the same in 2014.
State's Home Ownership Rate Down HTRNews.com (12/28/2013) Lintereur, Josh
Wisconsin’s housing market is continuing its recovery, but home ownership rates in the state are still low. Between 2010 and 2012 half of all Wisconsin counties saw home ownership numbers fall. Real estate experts say the decline is a result of foreclosures and the number of residents who have sold their home due to financial hardships. Those families have opted to stay with family or rent living space. David Clark, an economics professor at Marquette University, says there is no evidence that people who had their homes foreclosed have re-entered the housing market. He added that is difficult to obtain a loan following a foreclosure that occurred not too long ago. In addition, others argue that residents are still trying to find financial stability. Consumer confidence remains low, but experts say time will tell if workers are gaining enough confidence in their job to purchase a home. According to the Wisconsin REALTORS® Association, the state’s median home sale price rose 7.5 percent during the first 10 months of 2013, compared to a year ago, to about $144,900.
Date: December 23, 2013
MADISON, Wis. — Wisconsin home sales fell 6 percent in November 2013 when compared to November 2012, although total sales for the year remain ahead of 2012, according to the latest housing report by the Wisconsin REALTORS® Association (WRA). Comparing the first 11 months, home sales were up 11.1 percent in 2013 over 2012. Prices were also higher in November, rising 4.7 percent above the same month last year, to a statewide median of $136,000.
“Over the last two months, the housing market has definitely cooled from the red-hot pace that characterized the first three quarters of 2013,” said Steve Lane, WRA board chairman. “This was bound to happen since the base of comparison is 2012, and that was a very strong year for home sales.”
Lane pointed to markedly higher mortgage rates, steady upward movement in prices over the last year and a half, and heightened uncertainty of federal fiscal and health care policies as potential factors for the cool down. According to the report, 30-year-fixed mortgage rates bottomed out at 3.35 percent in November and December last year and stood at 4.26 percent in November, which is nearly a full percentage point higher. The median home price has risen steadily since March 2012 and is up 7.5 percent through the first 11 months of this year compared to that same time frame in 2012. Finally, the combination of a short-lived partial federal government shutdown in October and continued uncertainty associated with anticipated health care expenses may have kept some potential buyers on the sidelines in November.
“Although sellers would certainly prefer prices to increase faster, the more moderate rate of median price appreciation of 4.7 percent is healthy for the Wisconsin market,” said Michael Theo, WRA President and CEO. He noted that with current inflation lower than 2 percent, the modest home price appreciation will build total household wealth in real terms. “Wisconsin has enjoyed relatively mild swings in home prices relative to some of the more volatile regions of the country, and that stability keeps the dream of homeownership attainable for Wisconsin residents,” he said. The Wisconsin Housing Affordability Index, which shows the percent of the median-priced home that the family with median income can afford to buy assuming current mortgage rates and 20 percent down, stood at 232. This is up slightly from the October value of 225, but well below the level of November 2012 when it was at 275.
Despite the recent slowdown in sales, the number of homes on the market continued to shrink, with inventories down 9.5 percent to 8.6 months statewide in November. “City markets are quite a bit tighter than those in rural areas,” said Theo. In fact, the November supply of homes in the 24 metropolitan counties in the state were down to 6.5 months of supply, which was more than twice that rate of just under 14 months of supply in nonmetropolitan counties. “Using an experienced REALTOR® can help buyers find the best value in every market,” he said.
The Wisconsin REALTORS® Association
This is one of the best articles I've read that lays it on the
line. I've seen each of these infractions a number of times. We have
a board to complain to, but my experience has been, the agent you
file a complaint on comes into the review, says, “I didn't know
that,” and the board says, “okay, don't do it again.” It is
frustrating when your an agent trying to play by all the rules. I
have a long list of everything I've seen go wrong in Real Estate. The
fact of the matter is, if I posted it, no one would believe me.
Another problem is, some states have strict laws prohibiting public
complaints. Wisconsin is one of those states. This article must be
from one of the few states without such restrictions. Read the
article and think about it. When the road seem easy, watch out for
what's below the surface. Remember, the smoothest looking road is the
one covered with ice
Sales of homes in the 4-county Metropolitan Milwaukee real estate market increased 3.5% compared to the same period in 2012. There were a total of 1,434 homes sold, compared to 1,386 last October.
4 County Area
The 3.5% increase in regional sales may be a sign that the marketplace is settling into a more gradual sales pace. Rather than seeing large, double-digit increases – fueled by discounts and low prices – steady sales increases would point to a market with competitive pricing and neither buyers nor sellers dominating a transaction.
Cumulative sales through October totaled 15,351, putting the market on track to end the year with just under 18,000 sales.
Milwaukee and Waukesha Counties saw a moderate increase in sales in October, whereas Washington and Ozaukee Counties saw insignificant decreases in the number of units sold (both counties had one less sale than the previous year).
All are following a “normal” pattern of sales for the year, characterized by low sales in the first few months of the year (as listings are added to the market, increasing inventory). In spring, sales take off, consuming inventory through the summer, ending about Labor Day. The fall sees a gradual trailing off of sales to the end of the year (and a rise in inventory).
Homes placed on the market increased for the seventh month in a row in October, going up 8.6% – the first time the market has seen a sustained period of increased listings since before the recession.
September Home Sales Up 16.4%
Sales Up 12.7% Through 3rd Quarter
Home sales in the Metropolitan Milwaukee market were up 16.4% in September. Through the 3rd quarter the market had a 12.7% increase in sales versus 2012.
Sales There were a total of 1,484 homes sold in September, compared to 1,275 in September of 2012. For the first 9-months of the year, there were 13,917 sales vs. 12,349 during the same span in 2012.
Year-End Outlook While the fall/winter market usually sees a slowdown in activity, we expect 2013 to end on a positive note. With nearly 14,000 sales completed, and a historic average of 3,000 to 4,000 sales in the 4th quarter, we are comfortable projecting that 2013 will end with approximately 17,000 sales.
That would put the year on the level of the early 2000s, when we saw total annual sales in the high teens.
Listings In the first quarter of 2013 the market saw double-digit decreases in listings, which precipitated a reduction in “days-on-market” (DOM). Through the summer sellers started feeling better about the prices their homes would fetch on the market and began listing in greater quantities. Listings for the 3rd quarter finished 13.6% ahead of 2012. For the year, the Metropolitan market area is 2.1% ahead of 2012.
Inventory With total market area listings at the end of September at 11,253, the inventory level was 7.7-months, down from August’s 7.9 level. A year ago, the inventory level was at 12.08-months. If the 1,246 listings with an active offer are subtracted, the supply of homes available for purchase drops to 5.6-months.
August Sales Up 15%
Sales of homes in the 4-county Metropolitan Milwaukee real estate market increased 15% compared to August of 2013. There were a total of 1,862 homes sold in August, compared to 1,619 a year earlier.
All four counties in the metropolitan area had an increase in sales, led by a 109-unit gain in Milwaukee County. Waukesha County had 53 more sales from 2012. And, in Washington County there were 49 more sales, and 32 more in Ozaukee County.
August sales are typically strong as families looking to get into a home before the new school year starts close on their sale before the end of the month.
As we have been noting all year, the cumulative level of sales through August makes the 2013 market look at lot like the market seen in the early 2000s. Through August 31st there were 12,433 sales for the year. From 2000 to 2004, sales through August averaged 12,178 units.
Projections for the remainder of 2013 show the year ending with somewhere between 17,035 and 18,071 total sales. That would place 2013 about even with 2001 or 2002 when there were 17,321 and 18,479 sales, respectively.
While the early months of the year were characterized by low inventory levels, August marked the fifth consecutive month of increased listings compared to the same months in 2012.
Milwaukee County had 81 additional listings from 2012, followed by 62 in Waukesha, 32 in Ozaukee and 21 in Washington Counties.
With total metro area listings in August of 11,529, the market’s inventory level was 7.94-months, down slightly from July’s 8.02 level. A year ago, the inventory level was at 13.02-months. If the 1,421 listings with an active offer are subtracted from current listings, the inventory level drops to 5.72-months.
The market is proving to be very “balanced” favoring neither buyers nor sellers, 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; a REALTORS® guidance will help both parties purchase or sell a property for a fair price.
The EZ way to find Real Estate, homes, duplexes, investment property in Menomonee Falls, Milwaukee, Germantown, and all of Milwaukee, Waukesha and Washington Counties. Make sure to compare our advanced home listing features.
Considering building a new home but are not sure how to begin? The New Home Construction page will give you a few ideas. New home consultation is also available by request.
Please feel free to phone at 414-426-1784 or E-mailfor additional information.
New Home Construction Germantown
New Home Construction Menomonee Falls
New Home Construction Lannon
New Home Construction New Berlin
New Home Construction Muskego
Phone direct line at 414-426-1784 or E-mail from this link.
Property Listings with Advanced Marketing Information
Check out specials on discount listings in Menomonee Falls and other parts of Milwaukee, Washington and Waukesha counties. Save money when listing your home for sale. Visit the LISTING INFORMATION FOR SELLER'Spage for more information and the latest Real Estate listing specials and discounts.
Valuable Information for Buyers
A number of pages are available to provide buyers information you will need to locate the home of your dreams and guide you through the home buying process.
I searched for local Milwaukee help for short sales and seemed to get everything except a link to a local Milwaukee web site. It seems the pay for search result sites are on the top of the list when you need help. Are these the kind of sites you really want to visit when you are searching for someone local you can talk to?
Trying to find answers about a possible Short Sale? To find local, Wisconsin State Licensed help, check the Short Sale Help page.
If you are trying to avoid foreclosure, need information about a loan modification or any other question, you can find local help on the page,
When it comes to money, make sure you make the right moves.
Making the right move begins with your search for a new home. I will search the MLS for you on a daily basis and e-mail you the homes that fit your vision, needs and budget.
Save time and money.
An automatic search can save you time. When you check your e-mail the homes that fit the description you are looking for will be waiting for your review. Receive the specification sheets, pictures, maps and more information. Save money by being the first to see new listings and price reductions.
Realty Executives Menomonee Falls front
Realty Executives Menomonee Falls
Contact me to receive more information about Real Estate buying and selling services. 414-426-1784
This information focuses on market conditions and trends in the following areas.
* Brown Deer * Cudahy * Fox Point * Franklin * Glendale * Greendale * Greenfield * Hales Corners * Milwaukee * Oak Creek * Shorewood * South Milwaukee * Wawautosa * West Allis * Whitefish Bay * Brookfield * Butler * Delafield * Elm Grove * Lannon * Menomonee Falls * Muskego * New Berlin * Pewaukee * Sussex * Waukesha * St Francis
If you have a question on an area not listed in Southeastern Wisconsin please feel free to call 414-426-1784 or E-mail your questions.
LISTING INFORMATION FOR SELLER'S
Real Estate Information, videos, specials and services explained.
Real Estate Buyers
information for Real Estate Buyers. Services offered. Instructional videos. How to apply for a loan. Steps involved in Home Buying.
Realty Executives Elite
N89 W16416 Main St. • Menomonee Falls, WI 53051
Phone: (414)426-1784 • Fax: 888-645-2580