As of today interest rates on a 30 year mortgage with no points is hovering around 3.875%. You may wonder if that is a good rate. Revisiting the past can shed some light on this question. If we look back 10 years it was January 2002. We had just lived through the horrific events of 9/11 and real estate sales were reeling from the trauma of that awful autumn.
Interest rates at that time were at 7.375% with no points! At the time this was a great interest rate. To put this into perspective, let's look at the difference in payments from 2002 to 2012.
For a $200,000 mortgage the payment in 2002 would have been $1,381.35 amortized over 30 years.
In 2012, that same mortgage amount with today's low interest rates is $940.47-- a savings of $440.88. But here is where the power of the interest rates gets very interesting.
Let's assume that one can easily afford the $1,381.35 payment of 2002, what does that do to the amount borrowed? The payment with the lower interest rate now allows the same buyer a mortgage amount of $293,700. The lower interest rates allow you to purchase a bigger home for the same price.
If you are thinking about upgrading your home now is an opportune time to take full advantage of the low market rates.
Sometimes the more you say something the more you believe it to be true. If numbers don’t lie then let’s take a look at what actually happens year after year. From the graph you can see that the inventory levels swell significantly each spring, however the level of sales does not increase as much as the new inventory level leaving a large gap between sales and new inventory. The closer we can get the new inventory level and the current sales level to meet we have a very healthy market. Year in and year out the same trend persists. Several questions come to mind with this trend and there are two groups of people that can take advantage of this information—sellers and buyers.
Let me explain. If I were a serious seller I would rather be on the market when there are fewer homes on the market. If I am priced correctly, regardless of market, my home will sell. Here comes the tricky part. A good deal of the “swollen” inventory is from sellers who are thinking about selling but are not serious about correct pricing and thus their price is generally higher than the market. This is why they wait until spring to list their home. They are more fickle than committed sellers. If I have to compete with these folks then it is incumbent on me to be very accurate. Later on in the year, when most sellers think the market is bad we actually see just the opposite. The level of sales reaches to the level of inventory—a very good thing, and as a seller the fewer homes I have to compete with is always better.
Does this benefit a buyer? Wouldn’t I want more homes to compare to than fewer? Yes and No. Let me address the yes first. As a serious buyer do you want to spend time looking a wide variety of homes that are not realistically priced with sellers who will not sell them for the true market value? Probably not. And as a buyer would you rather compete with 5 other buyers or 15 for the inventory? Today’s buyer, just like the seller, does not want to compete with a surging supply of buyers.
From my experience of selling homes for the past 24 years, I can say with accuracy that most of my January’s are better than my July’s! In July school is out, the family is off on a vacation and house shopping is for another day. In January serious buyers are out looking at homes. If I were a seller I would rather sell my home in the “off-season” than in July when everyone is off for the season.
Now the numbers bear out what we have experienced for the last few decades. If you are serious about selling your home there is no better time than now.
June 03, 2010 at 12:00 AM · Posted under Market Stats
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April 10, 2010 at 08:59 PM · Posted under Market Stats
So how does the Germantown WI real estate market look these days?
This weeks New Listings report is from 4/2/10 thru 4/9/10 for Single Family homes on the market. Currently, Germantown has a average listing price for sale of $337,370. The Washington county average currently is $315,976.
The current number of properties on the market in Germantown WI is 87. The Washington county Single Family listings total 876.
Below you will find some New Listings in Germantown for the week of 4/2/10-4/9/10.
For More Information about these listings (or any others) or to get a free list of foreclosures, call or email The Kuchta’s Kelly & Colleen.
Contact:
Cell: 414-651-1613
Email: kkuchta@shorewest.com
Come back next week to see New Listings for Germantown WI.
April 09, 2010 at 08:49 PM · Posted under Market Stats
So how does the Menomonee Falls WI real estate market look these days?
Menomonee Falls new Listings report is from 4/2/10 through 4/09/10 for Single Family homes for sale. Currently, Menomonee Falls has a average listing price for sale of $318,044. The Waukesha county average currently is $429,859.
The current number of properties on the market in Menomonee Falls WI is 191. The Waukesha county Single Family listings total 2689. Below you will find some New Listings in Menomonee Falls for the week of 4/2/10-4/9/10
For More Information about these listings (or any others) or to get a free list of foreclosures, call or email The Kuchta’s Kelly & Colleen.
April 03, 2010 at 04:52 PM · Posted under Market Stats
So how does the Germantown WI real estate market look these days?
This weeks New Listings report is from 3/26/10 thru 4/2/10 for Single Family homes on the market. Currently, Germantown has a average listing price for sale of $335,695. The Washington county average currently is $316,456.
The current number of properties on the market in Germantown WI is 85. The Washington county Single Family listings total 870.
Below you will find some New Listings in Germantown for the week of 3/26/10-4/2/10.
For More Information about these listings (or any others) or to get a free list of foreclosures, call or email The Kuchta’s Kelly & Colleen.
April 02, 2010 at 04:45 PM · Posted under Market Stats
So how does the Menomonee Falls WI real estate market look these days?
Menomonee Falls new Listings report is from 3/26/10 through 4/2/10 for Single Family homes for sale. Currently, Menomonee Falls has a average listing price for sale of $326,181. The Waukesha county average currently is $435,485.
The current number of properties on the market in Menomonee Falls WI is 189. The Waukesha county Single Family listings total 2627. Below you will find some New Listings in Menomonee Falls for the week of 3/26/10-4/2/10
For More Information about these listings (or any others) or to get a free list of foreclosures, call or email The Kuchta’s Kelly & Colleen.
March 20, 2010 at 02:53 PM · Posted under Market Stats
So how does the Germantown WI real estate market look these days?
This weeks New Listings report is from 3/12/10 thru 3/19/10 for Single Family homes on the market. Currently, Germantown has a average listing price for sale of $339,060. The Washington county average currently is $316,937.
The current number of properties on the market in Germantown WI is 86. The Washington county Single Family listings total 844.
Below you will find some New Listings in Germantown for the week of 3/12/10-3/19/10.
For More Information about these listing or any others, please contact The Kuchta’s Kelly & Colleen:
March 19, 2010 at 02:46 PM · Posted under Market Stats
So how does the Menomonee Falls WI real estate market look these days? Menomonee Falls new Listings report is from 3/12/10 thru 3/19/10 for Single Family homes for sale. Currently, Menomonee Falls has a average listing price for sale of $328,995. The Waukesha county average currently is $433,281.
The current number of properties on the market in Menomonee Falls WI is 182. The Waukesha county Single Family listings total 2543.
Below you will find some New Listings in Menomonee Falls for the week of 3/12/10-3/19/10.
For More Information about these listings (or any others) or to get a free list of foreclosures, call or email The Kuchta’s Kelly & Colleen.
March 13, 2010 at 05:33 PM · Posted under Market Stats
This weeks New Listings report is from 3/4/10 thru 3/11/10 for Single Family homes in the Germantown WI Real Estate market. Currently, Germantown has a average listing price for sale of $347,234. The Washington county average currently is $318,646.
The current number of properties on the market in Germantown WI is 79. The Germantown median listing price is $309,900. The Washington county Single Family listings total 829 .
Below you will find some New Listings in Germantown for the week of 3/4/10-3/11/10.
For More Information about these listing or any others, please contact The Kuchta’s Kelly & Colleen:
March 12, 2010 at 04:59 PM · Posted under Market Stats
This weeks New Listings report is from 3/4/10 thru 3/11/10 for Single Family homes in Menomonee Falls WI Real Estate market. Currently Menomonee Falls has a average listing price for sale of $332,932. The Waukesha county average currently is $433,604.
The current number of properties on the market in Menomonee Falls WI is 178. The Waukesha county Single Family listings total 2492.
Below you will find some New Listings in Menomonee Falls for the week of 3/4/10-3/11/10.
For More Information about these listing or any others or to get a Free list of Foreclosure call or email The Kuchta’s Kelly & Colleen.
March 05, 2010 at 05:02 PM · Posted under Market Stats
This weeks New Listings report is from 2/25/10 thru 3/4/10 for Single Family homes in the Germantown WI Real Estate market. Currently, Germantown has a average listing price for sale of $349,274. The Washington county average currently is $319,689.
The current number of properties on the market in Germantown WI is 77. The Germantown median listing price is $309,415. The Washington county Single Family listings total 810 .
Below you will find some New Listings in Germantown for the week of 2/25/10-3/4/10.
For More Information about these listing or any others, please contact The Kuchta’s Kelly & Colleen:
March 04, 2010 at 06:58 PM · Posted under Market Stats
This weeks New Listings report is from 2/25/10 thru 3/3/10 for Single Family homes in Menomonee Falls WI Real Estate market. Currently Menomonee Falls has a average listing price for sale of $330,800. The Waukesha county average currently is $431,988.
The current number of properties on the market in Menomonee Falls WI is 177. The Waukesha county Single Family listings total 2400.
Below you will find some New Listings in Menomonee Falls for the week of 2/25/10-3/3/10.
For More Information about these listing or any others or to get a Free list of Foreclosure call or email The Kuchta’s Kelly & Colleen.
February 25, 2010 at 03:22 PM · Posted under Market Stats
This weeks New Listings report is from 2/17/10 thru 2/24/10 for Single Family homes in Germantown WI Real Estate market. Currently Germantown has a average listing price for sale of $345,811. The Washington county average currently is $319,929.
The current number of properties on the market in Germantown WI is 78. The Germantown median listing price is $296,950. The Washington county Single Family listings total 825 .
Below you will find some New Listings in Germantown for the week of 2/17/10-2/24/10.
For More Information about these listing or any others contact The Kuchta’s Kelly & Colleen.
February 24, 2010 at 05:43 PM · Posted under Market Stats
This weeks report from 2/17/10 thru 2/24/10 for Single Family homes in Menomonee Falls WI Real Estate market. Currently Menomonee Falls has a average listing price for sale of $334,956. The Waukesha county average currently is $435,403.
The current number of properties on the market in Menomonee Falls is 178, and for Waukesha county real estate, the total listings are 2,326.
Below you will find this weeks Single Family Sold properties for Menomonee Falls Real Estate.
Below you will find some New Listings in Menomonee Falls Real Estate.
For More Information about these listing or any others contact The Kuchta’s Kelly & Colleen.
Cell: 414-651-1613
Email: kkuchta@shorewest.com
Come back next week to see New Listings and what have Sold.
Glenn Hanon
Karen Trepton
Kelly Kuchta
