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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 [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

Filed Under: First Time Homebuyers, Real Estate Interest Rates

MOVE2MILWAUKEE LISITNGS

Bay View Investment Land Opportunity!

  • Price: $472,500
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4155 W Rivers Edge Circle Unit 1 Brown Deer WI 53209

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MOVE2MLWAUKEE:
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“I have been in the real estate business as an appraiser as well as a landlord for over two decades, and I can honestly say that I have never had the pleasure to work with such an honest, hard working, and pleasant agent. Mr. Arnold went way beyond what I have personally experienced or what I have ever heard of any other realtor doing to help their client. I am forever grateful for everything…more“
HIGHLY LIKELY TO RECOMMEND
by Marcella S. | 2020 | West Bend, WI

2061457

“Bob is awesome! He helped me find a really great home in a short period of time. Kept me informed about places I might like. I’m a first time buyer and was pretty clueless. Bob showed me what to look check for when looking at a home, always was quick to respond to my questions, very patient, honest. I love my new home and got a really great deal. Highly recommend….more“
HIGHLY LIKELY TO RECOMMEND
by Danae W. | 2019 | Thiensville, WI

5527304

“Bob Arnold is a great partner for both buying and selling. He knows the Milwaukee & SW Wisconsin market very well. When we were selling, the listing photography and marketing were great – all the latest tech – 3D tour and social media marketing. Bob offered helpful advice and guidance at every stage of the buying and selling process… more“
HIGHLY LIKELY TO RECOMMEND
by Brett M. | 2019 | Milwaukee, WI

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