October 13, 2017 by move2

Best Time to Buy a House in Wisconsin?

October Marks the Beginning of the Best Time to Buy a Home in 2017

NOW is the Time to Take Advantage of the High Inventory in the Milwaukee Real Estate Market with Bob Arnold!

Inventory is up, interest rates are down. It’s the 10th month of the year and if you aren’t currently trying to find real estate near Milwaukee WI, you’re missing out! The best time to buy a house in Wisconsin is NOW.

Not September. Not January of next year.

The Spring market is the most active time of the year for realtors in Milwaukee WI. By this, I mean buyers are EVERYWHERE. Inventory is low and everyone wants to have the best deal on Second street, so the competition gets cutthroat.

This is a national chart – November & December in Wisconsin real estate has higher inventory than the rest of the country!

Property of the Week

Best Time to Buy a Home in Wisconsin: October, November & December

With the upcoming Spring of 2018 fast approaching (Only 4 months away!), another exceptionally busy Spring Milwaukee real estate market is expected, lugging with it increased prices and low inventory – again. Tagging along? High buyer competition.

Don’t get trampled by the house hunting herd!

The Spring of 2017 was very frustrating for buyers who ran blindly into one of the busiest real estate markets Milwaukee has had in over 15 years. Bidding wars were common and it shoved home buyers into corners, especially those who were renting. This caused many buyers to abandon their dream home or condo.

For example, let’s say a home in the metro Milwaukee market is priced at $250,000 with an interest rate of 4.5%. As a buyer, you have a 20% down payment prepared. The differences between buying this property in Spring and Fall include:

April of 2017 | With the busy market, a bidding war would have taken place. Offers shoot the price up $20,000 to $270,000 with very little room for any negotiations on price and terms.

October of 2017 | Facing less buyers and a better 4% interest rate in the Autumn market, a buyer would instead negotiate the price and terms to benefit themselves instead of dealing with bidding wars. This drops the home mortgage payment by $150.00 per month.

Buy real estate at the end of the year – its when the buyers are in control!

Free Property Search!

Still Renting & Looking to Purchase a Home or Condo? Call Bob Arnold!

I have more than 25+ years of experience in the Milwaukee real estate market and can show you how to get credits to cover 3 to 4 months of rent – it makes the transition from apartment living to property ownership so much easier!

(Your lease that ends in March or April would have all costs covered so you can take advantage of the current real estate market instead of fighting your way through the Spring Real Estate market!)

Source: Money | Real Estate “When is the Best Time to Buy a Home?”

The market is a perfect for buyers right now with lower interest rates than the spring by almost a half percent and double inventory level with very few competitive offers. If you found the right home today and put an offer on it, you would be saving on the increase in prices of 2018 and projected increase of interest rates that are currently lower than they were in Spring of 2017.

Spring buyers who had been renting got frustrated, decided to continue renting, not purchase or move and wait for another year. These are not active buyers anymore and are missing the boat with the current metro Milwaukee real estate market. You may have been one of those buyers yourself, but the question is: is someone else going to take advantage of the Autumn real estate market, or are you?

Happy house hunting!

Sincerely,
Realtor Bob Arnold

Realty Executives Integrity

(414) 379-1101

[email protected]

Sources: Investopedia & Business World

Contact Bob Arnold!

"Fantastic & Ultra-Knowledgeable Realtor"

"Bob is the living-legend of Realtors in my area -- and for very good reason. He helped us get the asking price for the home that we sold and a very reasonable price for the home that we bought. Bob will ALWAYS answer his phone, texts and emails immediately (any time of day-or-night). Not only is he a fantastic and ultra-knowledgeable Realtor - but conscientious, honest as the day is long, and mostly -- has a great sense of humor, balanced with being the consummate professional. In fact after the experience we've had with Bob I now consider him a friend (if not family). We could not be happier with Bob, and if we were to buy/sell a house again we would ONLY consider working with Bob."

Steve

"Very Patient & Accommodating"

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 accommodating. 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

Ben

"I Got Exactly What I Wanted"

Bob was AWESOME!!! Can't thank him enough for everything he did to make sure I got exactly what I wanted. So glad I called Bob to be my realtor! He went above and beyond any and all expectations I had. He's EXTREMELY knowledgeable about the Milwaukee area and his insight on the market and builders was very valuable. As a young adult and first time homebuyer, the questions were endless but he was able to successfully guide me throughout all stages of the process. He did a great job to make sure I saw plenty of options and he was very flexible and easy to work with. If you're looking for a realtor, definitely call Bob!

Madeline

"One of the Great Ones!"

Bob Arnold is one of the great ones! I had been a Licensed Real Estate Broker in California for over ten years and I had done a lot of deals while working with way too many Realtors to remember. I relocated to Milwaukee for a job and when it came time to buy a home I knew what was important . I needed a Realtor who really knew the business and the area especially. Bob is that rare person who really understands customer service, is very connected to the business and he knows how to get the deal done fast. I have recommended Bob to a few co-workers and would recommend Bob to anyone who wants a real professional in Milwaukee real estate.

Erik

"The Reason our Offer was Accepted"

We can’t recommend him highly enough. Bob is the reason our offer 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

"There was Never Any Pressure from Him to Buy"

Bob let us look at all the houses we found that we wanted to see, and he was quick to point out both the good and the bad at each. There was never any pressure from him to buy, he waited until we found the right house for us, and then he went in fighting to make sure that it was properly taken care of before closing. All emails and phone calls were promptly returned, I was very impressed with his responsiveness, and keeping us informed as much as could be done. I have no hesitation in recommending that anyone looking for a home work with Bob.

Kaysie

"Willing to Go Out of His Way"

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!

Sara

"Stress Free & Enjoyable Home Buying Experience"

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 this an overall stress free and enjoyable home buying experience.

Mike

"Answered All of My Questions"

Bob did an excellent job at helping me with every step of the process. Answered all of my questions and was a great asset.

Joe

"Highly Recommended"

After having an ‘at home’ realtor (who came highly recommended) and who was afraid to even hold an open house, having only 3 showings in 6 months - I fired her. Yes, my property was a difficult one, in a tough market. However, Bob worked diligently on every lead, with numerous Open Houses and timely showings. He was intense, yet calm and knowledgeable. He knows the business of real estate, codes and how to work with people in a very creative way to get the sale. He knows all the venues for listing a property, and always welcomed my input and ideas. While trying to sell my property, he found numerous new listings for me to purchase. Frankly, you’ll be happy you hired Bob.

Eric

He Was Always Quick to Respond to our Questions

Bob helped my husband and I find a house this past July. We were first-time home buyers, and were interested in the Bay View area of Milwaukee, and he made us feel confident after our first meeting with him that he could help us through the process, and get us into a house in our ideal location. And he did indeed check both of those boxes! He was always very quick to respond to our questions, which was incredibly helpful, as the home-buying process can move so quickly. We also appreciated his honesty – there were a couple of houses that we looked at that we were on the fence about, and Bob gave us great guidance. He really did understand what we were looking for, and wouldn’t have let us put an offer in on something that wasn’t perfect. We have now settled into the house nicely, and are so grateful to Bob and his team for all their hard work!

Jordan

Now is the best time to buy a house in Wisconsin – Contact Realtor Bob Arnold today to start your home search!

June 9, 2017 by Bob

Interest Rates Alert, Great News for Buyers!

While looking to purchase a home or condo in the metro Milwaukee area I understand that interest rates are a key factor. Interest rates fluctuate daily and it is important to stay up to date on them if considering buying a home or property. I keep a close eye on them and I have seen them creep downward lately. Interest rates are highly based on world catastrophes unfortunately. However, they open up opportunities for buyers. While the market is still challenging to find properties in some areas, interest rates make it appealing to look aggressively right now. FHA, VA, and USDA rates are at 4 % or lower.

When I work with my clients in the Metro Milwaukee Area I make a commitment to each of them to search for homes daily and I make myself available 24/7 to view homes as soon as they come on the market. Having an agent that is always available when you are actively and aggressively looking at homes in this tight market is extremely important. Please feel free to contact me by email or text to help answer any questions about the market or looking to purchase a home.

Check out this review from a previous client of mine:

“This is the second house I have worked with Bob with to purchase and things couldn’t have gone any better. Bob has a great sense of the market and what true market value is. He also isn’t going to tell you what he thinks you want to hear, he is going to tell you the truth which is super refreshing. Gives you confidence in what you are buying. Highly recommend.”

-Tyler

February 24, 2017 by Bob

Is it Spring yet?

Between the crazy weather and the raising interest rates in January, our Metro Milwaukee Real Estate market is well on its way. The lack of inventory is already at an all-time low, making it extremely difficult for buyers to take their time when looking at homes. New listings are down 7.5% (a 17 month low per MLS). Buyers are needing to make quicker decisions on purchasing a home when they find the right one. While mortgage rates are at 4.25-4.5%, they have not made a significant move further upward recently. Most analysts project stronger economic growth in the U.S. later this year which always causes fixed rates to rise. Everything is related. A stronger economy also means higher wages and more jobs (two key factors in housing demand).

GMAR reports that the 4 county Milwaukee Real state home sales are up 4.3% in January with also the fewest listings of any January in the 21st century. The median home price in Metro Milwaukee area has risen another 10.6% since last year which equates to 3 years of double digit price increases. A $200,000 home in the beginning of 2014 is now worth or would be sold for about 250,000 if on the market. With an increase of $50,000 in purchase price and .5 to 1% more in interest rates, your loan would change. The loan would need to increase $50,000 and a change of 1% in interest would increase your mortgage payment about $165/ per month.

Unfortunately, it is not going to get easier this year looking for homes or condos. My advice would be to work with an agent that is working for you! Make sure you are on auto searches and get homes emailed to you as soon as they appear online. While Zillow or Trulia provide great information on homes in the Milwaukee area, they are very inaccurate on listing status and late on new listings online.

I specialize in first time home buyers and understand what is needed for them. I feel it’s important to meet with the buyers so I can understand their needs, goals and discuss the market. I give the buyers I am working with the time they need and I’m always there to answer any questions they have. I have included a few of my reviews from 1st time home buyers for you to view. I am not here to push you or to sell you a home. I am here to guide you through the process and work with you to find not just any home, but the home that is right for you. I would enjoy meeting and discussing your goals or any questions you have about the Milwaukee Real Estate market. You can always get a hold of me by email at northshor[email protected] or text at 414.379.1101. Please feel free to see past blogs and additional information about Milwaukee and the Real Estate market on my web site at move2milwaukee.com

Reviews

(5 of 5 Stars)

Wonderful experience with Bob, who is so patient and knowledgeable. He has helped us from beginning to end and given us his honest feedback. We will definitely work with him in the future and be proud to refer him to our friends.

(5 of 5 Stars)

This was my first home buy and Bob was more than I could of asked for. He was very helpful, readily available and helped us get to the bottom of what we were truly looking for. He did more than I could have expected and I was consistently impressed by his willingness to help. I'd recommend him to anyone Bob is a very honest, knowledgeable, great guy to work with

June 7, 2016 by Bob

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”