Move 2 Milwaukee

(414) 379-1101

4655 N Port Washington Road Suite 300, Glendale, WI 53212

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What is an investment property?

I believe a property whether it be a home, condo or duplex in the Milwaukee real estate market is always an investment. If you want to get technical though, I look at a true investment property as something that you will make a return on or will help cover your current costs. Today’s buyers are savvy and are looking for a safe option to invest in. Investing in real estate, especially in Milwaukee, does receive national attention. Owning a “Brick and Mortar” can be highly beneficial. This year I have more buyers purchasing duplexes, 4 families and even larger 8, 16, 18, and 24 family properties than ever before. The Metro Milwaukee area continues to be a relatively safe area for investment. The best kept secret is that a qualified buyer can purchase up to a 4 family, but must owner occupy, with as little as 3.5%, YES 3.5% down payment. Can you imagine purchasing a duplex for 185k with only $7,500 down and have someone cover $750-$900 of your month’s payment? Another option would be to purchase a 4 family all brick low Maintenance for 250K with as little as 12k down payment and have income of $1900-$2400 per month to cover cost and more! Remember these properties are increasing in value, you are getting a tax deduction on them and after a couple of years you can refinance, move out and then purchase another property. I have a number of buyers doing that now. Yes, this does seem to be like one of the best kept secrets in real estate. If you are interested please feel free to contact me to learn more or visit my web site move2milwaukee.com.

Check Out a Previous Client Review!

Highly likely to recommend
09/13/2016
Bought a Single Family home in 2016 for approximately $225K in Bay View, Milwaukee, WI.

5 of 5 Stars

As first time home buyers, we needed a lot of guidance and Bob was more than willing to go out of his way to meet with us and educate us through this process. He helped us not only find our first home, but our dream home!

Follow the link for more:

http://www.zillow.com/profile/move2milwaukee/#reviews

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Milwaukee Area Real Estate Market Update

While we experiencing a strong real estate market in the metro Milwaukee area but we can’t forget that it is still based on supply and demand. One of the biggest factors effecting price in the Metro Milwaukee market is the inventory. New listings in the Milwaukee region decreased 10.4 percent down to 2,288 listings July. Pending sales were also down 36.3 percent to only 1,150. Inventory levels fell 10.2 percent to 6,906 units, while the median sale price increased 1.3% in July. Making this even more of a seller’s market.

In most areas the $250K and under market is extremely active. Some Milwaukee real estate areas are experiencing the problem of little or no homes available in this price range. Go under $150K and nice homes are being sold in less than a week with multiple offers. For example, I was looking for some homes in Thiensville the other day for a buyer I am working with to find 8 homes on the market and 7 of the 8 had offers. Our four county area, Milwaukee, Ozaukee, Waukesha and Washington are a price sensitive market with very different buyers and number of buyers in different price ranges. For example: Once we get over the 600K range our inventory increases and prices actually seem to be dropping or we are seeing price reductions. Now updated or new construction are always going to sell quickly. Pockets like Whitefish Bay and Shorewood are doing great in any price range.

What’s going to happen with the interest rates, up or down? If I only had that magical crystal ball. We are seeing them fluctuate in the 3`s. Are we living on borrowed time? It depends on who, what bank, economist or media you want to listen to. World chaos and poor employment numbers in the U.S. are keeping them down. What we do know is prices are going up at an average of 10% plus per year. The house now priced at $250K will be $275K next year, yes the same house that was $200K 2 years ago! I know our incomes are not going up that fast. You may want to really think about a home purchase game plan. I have not had any buyers come back to me in the last 3 years saying “Bob I wish I would have waited to purchase a home”. Instead most if not all say I wish we would have purchased sooner! Here is another one of my great testimonials:

7/06/16
5 of 5 Stars
Buyer’s Agent
Worked with Bob shortly after we relocated to the area. Bob took the information we provided and gave us a good sampling of what was available in a fast moving market. Bob was very flexible in his schedule to accommodate our schedule. Once we found our home, Bob acted quickly to bring our offer to the table and get accepted. Bob also worked closely with us in making offer conditions and following up with some additional matters in the home inspection. Bob also had connected us with an excellent home inspector who provided a very detailed report as well as a Real estate attorney that met our needs. Bob made the home search and overall home buying experience stress free and enjoyable.

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Which Real Estate Agent Is Right For You?

When you are searching for a Real Estate agent in the Metro Milwaukee area to work with, research is important. Purchasing your new home will most likely be one of the biggest investment of your life.  Doing a little research on a Real Estate agent will go a long way. Looking up reviews on the agent, google searching them, and checking their website are just a few ways to find out about the agent. For reviews and volume of sales, check major search engines such as Zillow, Trulia, and Redfin. These sites are the best way to truly figure out what the realtor brings to the table. Want to know the best part about all of this, there is no cost to this research, it’s all free!

I rely heavily on Real Estate reviews from my clients. I actively reach out for reviews as well as send out my reviews to potential clients. I would like to show you the power of a review. Below are 2 reviews one from Ben and Stephanie and one from Brianna, both were recent clients of mine. Sure, we had some bumps in the road with these purchases but rarely does everything go perfect in such a big investment. It is how those bumps are handled by the Real Estate agent and the solutions they find that make be biggest difference. In the end, the only thing that matters is the Realtor did the best job for his/her client and the client feels good about their purchase. Here are two examples of a recent reviews I received on Zillow.

Highly likely to recommend

5 out of 5 Stars

06/18/2016

Purchased Home in 2016 in Milwaukee, WI

Local knowledge: 5 out of 5 Stars

Process expertise: 5 out of 5 Stars

Responsiveness: 5 out of 5 Stars

Negotiation skills: 5 out of 5 Stars

Bob is the best! I’ve never written a Google review but I had to give Bob 5 stars. He’s been really helpful as we are first time buyers. We had no idea what we really wanted at first and he’s been very patient and accommodation. Plus he’s been really honest and upfront about certain things which was refreshing. He’s not pushing you into the wrong home, he definitely seems to care about you getting into the right fit. I recommended Bob to my brother and I’d recommend him to whomever is looking for a home. We had some huge issues with a lender (won’t mention the companies name) but Bob fought for us. Wish I could bump up the stars from 5 but I can’t recommend him enough.

Highly likely to recommend

5 out of 5 Stars

Brianna Purchased Home in Brookfield
We can’t recommend him highly enough. Bob is the reason our offer on our home was accepted. He worked hard to get us into properties the day they came onto the market. Bob was available and willing to answer all of our questions, and as first time home buyers, we had many. He knows Milwaukee and the surrounding communities well. It put our mind at ease knowing we had a knowledgeable, experienced advocate on our side throughout the home buying process.

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Still Great interests rates…Why?

This is one of those times you don’t ask why but take advantage of it. I just got off the phone with a lender I work with and he said rates as of today are around 3.65% with a range to 3.5% to 4% . On a $200,000 loan a .5% change in interest can make a $60.00 per month difference. Are the interest rates going to get any better? Probably not. Are they going to go up? Good chance yes, but when is the question. We do know house prices in the metro Milwaukee area are increasing about 10% per year. Per GMAR   

The usually strong spring housing market will be strong this year but could be far stronger, if only there were more homes for sale. The number of listings continues to drop, as demand outstrips supply and potential fearing they won’t be able to find something else to buy before interest rates and home prices go up.

The inventory of homes for sale nationally in April was 3.6 percent lower than in April 2015, according to the National Association of Realtors. Despite ongoing inventory shortages and faster price growth, existing-home sales sustained their recent momentum and moved higher for the second consecutive month, according to the National Association of Realtors. The inventory drops are most severe in the lower-priced tier of the market.

Looking for a home should not be a challenge but will take a commitment. Pre-approval is a must to be prepared when that right home comes along so you can move quickly. 

When a buyer commits to working with me, I make a full commitment to that buyer to make sure we find the right home and see it as soon as possible so the buyer can make a decision. I have said this many times “when you see the right home you will know it”, I just want to make sure you see it soon enough and are prepared to write an offer on it. Please feel free to see some of my reviews on the main page of my website.

Bob Arnold – Milwaukee Real Estate Agent

Realty Executives Integrity

414.379.1101

[email protected]

www.facebook.com/move2milwaukee

“Specializing in Results”

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Our Milwaukee real estate market continues to grow and limited inventory is making it very frustrating for buyers. While there is a shortage of condos in downtown Milwaukee, The Bay View condo market area has even less. At this time there are only 10 condo on the market in Bay View.

But there is a silver lining to this clouded day. At the base of the Hoan Bridge going south, 5 minutes from downtown Milwaukee is a wonderful high rise condominium called Bay View Terrace.  There are currently 4 units for sale. All over 1,100+ sf, 2 bedrooms and one bath with spectacular views on the lake, downtown Milwaukee, west  and south.

Bay View is one of the hottest areas in Milwaukee with great restaurants, shops, parks and yacht club.  If you are not finding what you want downtown Milwaukee in your condo search expand just a little and see what is available on the other side of the river in Bay View.

Let me email you a link to view these wonderful condos or better yet let me set up a showing for  you. I think you will be surprised.

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Milwaukee Real Estate Investment

Competitive interest rates and declining inventory is bringing out more buyers/investors than ever before. Duplexes, 4 family’s, multifamily are all safe investments right now. There are more buyers interested in investment properties than ever before! While conventional loans for 2 family and multifamily are limited to 20-25% down, FHA owner occupied multifamily up to 4 family units are still available to finance with as little as 3.5-5% down for owner occupied. This is an unbelievable opportunity for investors new to the industry. Our lending guidelines change regularly and these opportunities and interest rates may not last for long. There is limited inventory and prices are going up.  I did a search the other day for an investor in all of Waukesha County for duplexes and multifamily properties and only 45 properties were available in the whole county! Milwaukee County only had 156 multifamily properties with 127 of them being in the city of Milwaukee.

Advantages

1) Great investment opportunity for future income

2) Low or no payments come from buyer as income from other units will usually generate most if not all of mortgage payment

3) Tax advantages

4) Great estate planning

For more info or if you would like to set up a meeting to ask questions or discuss your interest in investing please let me know.

Bob Arnold

Realty Executives

414.379.1101

[email protected]

 

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It has not been this busy since 2007. Honestly. I was looking over the WRA (Wisconsin Realtor Association) statistics on home sales and noticed sale in SE Wisconsin in January of 2007 were 1,370 and January of 2016 they were 1,347, That is the highest number of sale in January since 2007. February and March are following the same trend with the exception on March of 2015 out doing 2016 by 16 homes.  The median price of a home in March of 2007 $182,000. March of 2016 it was $162,333. Not to make anyone feel bad but in March of 2011 it had dropped to $126,950.  

What does all this mean to you as a buyer or seller.  Interest’s rates are still at one of the lowest points since early 2015. Prices are still relatively low, but and there is a big but, inventory is also at an all-time low.   This puts the curve in the curve ball for buyers.  It is very completive and multiple offers are almost standard. I spoke to my lender the other day and he said he is seeing more offers submitted for loans with over asking price then ever before.  Buyer are getting frustrated, agents are getting stressed and lender right now are getting overwhelmed.

Suggestions for you as an active buyer especial a new first time buyer.  

1) Use a full service full time Real estate agent with experience and make sure you are on an auto search.

2) Use a qualified lender with a solid pre-approval (There are a number of Lenders we are having a lot of problems with)

3) Be prepared to move quickly, This is where 1 & 2 come into play and are very important to help you make a decision.

How important is the agent? I cannot stress enough how important having a good agent working for you in this market is. Meet with them, talk with them, interview them, but make sure you are comfortable and the have time for you and will work for you.  

Here is a review from one of my past clients:

“We can’t recommend him highly enough. Bob is the reason our offer on our home was accepted. He worked hard to get us into properties the day they came onto the market. Bob was available and willing to answer all of our questions, and as first time home buyers, we had many. He knows Milwaukee and the surrounding communities well. It put our mind at ease knowing we had a knowledgeable, experienced advocate on our side throughout the home buying process.” Brianna

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In the last 2 weeks I have been involved with writing and receiving Offers to Purchase with interest rates of 3.857%, 3.5% and 3.75%. Yes, we are back in the 3%! For how long, we don’t know. But for now, if you are serious about looking for a home or condo, take advantage of these outstanding interest rates!

I understand the home buying process is still based on finding the right home and should not be rushed.   A 5% (3.5% vs. 4%) change in interest rate on a $200,000 mortgage amount can mean a difference of $50.00 per month! Please let me know if I can help you not only with your search but also help you find a qualified lender to work with. When purchasing a home or condo it is important to set yourself up with a good team, Realtor and Lender. Finding these individuals can make all the difference in a smooth and successful transaction vs. a dysfunctional and frustrating transaction.

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Walkers Point, the one fastest growing and most up and coming areas in Milwaukee, is the “new frontier” for Downtown Milwaukee, connecting Bay View to the 3rd Ward. The district, also known as the “Fifth Ward” is quickly evolving into a foodie’s dream neighborhood. With many factories that have been and are scheduled to be converted into commercial or residential spaces, one can find an abundance of restaurants, coffee shops, and clubs while just blokes from the 3rdWard and Bay View.

What’s Happening in Walker’s Point

In May 2014, construction began on a 120-unit upscale apartment development, featuring 3 five story buildings. The $12.2 million project by Tim Gokhman will be north of W. Washington St. between S. 1st and S. 2nd St. The average rent for these apartments will be $1,350.

On Thursday, October 22nd , there was a groundbreaking ceremony for “The Freshwater Plaza.” This development by Wangard Partners is a mixed-use development adjacent to the inner harbor and will be the gateway to UWM’s School of Freshwater Sciences. Wangard specializes in green, sustainable, and efficient spaces for office, multi-family, industrial, and retail. Freshwater Plaza is projected to create 75 construction jobs and 156 permanent jobs, as well as attract regional and national tenants.

Why it Could be Important to You

Already a very walkable area, Walkers Point will become even more accessible after the Street Car project loops through, which is part of the long term plan. While the area is quickly growing and increasing in popularity, real estate is still quite affordable. This could be a great time to get in on the ground floor at a reasonable cost and watch your property values rise as the community continues to grow.

Real estate inventory in the area is limited, so some of the homes available will need updating, but there are a few great options. One example of this is a property listed for only $39,900, just blocks from Freshwater Plaza. This 3 bedroom, 1,000 sq. ft. home already has some updates and could use a few more but could be the opportunity you are waiting for!

Bob Arnold is a qualified Walkers Point Real Estate Agent who understands the market and can help you navigate the purchase of your new home or condo.

Relevant Links

For more information on Gokhman’s apartment development:
http://www.jsonline.com/business/upscale-120-unit-apartment-development-planned-for-walkers-point-b99484850z1-300703831.html

For more information on Freshwater Plaza:
http://fox6now.com/2015/10/22/gov-walker-in-milwaukee-for-freshwater-plaza-groundbreaking-a-46-million-development/

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While it has been quite an eventful summer real estate market, our fall market might be a little tougher for buyers with limited inventory, but some good deals. Our inventory level overall has gone down. While some areas do remain very strong, such as West Allis with over 356 homes available (82 have offers and 81 of the homes are under $100,000). Wauwatosa only has 217 homes on the market, 55 with offers and only 3 under $100,000. Some of the communities that are the worst for buyer right now include Greendale, with only 45 homes currently on the market (10 with offers) and St Francis with only 31 homes on the market (6 with offers).

There are specific price ranges in a lot of the markets that really limit purchasing options. Now let’s include the fall/winter market factor coming up. What does this all mean? Don’t panic or abandon your search. There will always be new listings coming on the market. Some you may have to move faster than others. However you may keep in mind that two variables will more than likely happen. Home prices will continue to go up as well interest rates. This will affect your buying power.

Our spring market usually starts right after the first of the year with new anxious buyers. This will increase the buyer competition. New listings after the first of the year, as always, will look at pushing the prices up in that spring. The best metro Milwaukee home purchase buys will be in the next 3 months. Sellers that have had listing on the market want to sell before the winter to eliminate holding costs.

If you would like more information or would like to meet and discuss the Milwaukee real estate market, I am more than happy to do so. Call me anytime!