IT IS A GREAT TIME TO BUY!!!
Are you renting and want to know the advantages of Buying vs. Renting?
Are you moving up in the market?
Bob Arnold, a licensed Realtor with Realty Executives gives us 5 Reasons to BUY Real Estate in the current Real Estate Market
- Falling prices in our late fall market
- Great interest rates. (the best in years with 30 mortgages as low as 3.75%)
- 3 ½ % down is all you need to purchase a home in today’s market. I can usually get the closing cost included in an offer to also help buyers with cash needed at closing.
- Buyers are in control when making an offer and negotiating (less chance of multiple offers through the end of the year as well as sellers not wanting to carry homes through the winter)
- Motivated fall sellers (as spring comes buyers will not be as motivated, new listing will be on the market with higher prices and higher percent of buyer as always in the spring, there)
- 2012 tax deduction
GMAR announce recently that the 4-county Metropolitan Milwaukee housing market increased 29.2% over July of 2011.
Historically low interest rates, low prices and improved consumer confidence have helped the market tremendously; generating double-digit sales growth for more than a year.
July continued that trend of decline in homes listed for sale resulting in inventory levels not seen this low since the early 2000s.
The combination of high sales and low inventory appears to be placing some pressure on prices, via multiple offers on homes, not in initial listing prices. In fact, the 2nd quarter of this year we saw two counties with price increases. Prices in Washington County were up 1% and Walworth County was up 1.3% over the 2nd quarter of 2011.
As Wisconsin continues to improve economically, home sales have increase. There is a pent up demand for homes, both selling and purchasing.
Recommendations to Buyers
Beat the curb and be in control. Start looking now and see what is out in the market. If you are moving up in the market you are capturing a double advantage, while purchasing a home at a much higher reduced percentage than selling your own home.
For more Information on the market or if you are looking to purchase contact Bob Arnold