Square footage for homes on average is decreasing in size, according to Amy Hoak’s report from Market Watch. The average square foot print of a home has shrunk from 2,520 sq ft in 2008 to 2,480 sq ft in 2009, a clear trend that builders are responding to the demand for smaller more efficient homes. Click here to link out to the Builder Magazine Concept Home website.
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Glenn Hanon
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My trusted smart phone kicked the bucket the other day and I was forced rather quickly to think about another phone. Not wanting to switch carriers, I did decide to jump into the Apple world. Both of my sons have Apple laptops and brag how the “old man” needs to get with it. So, I bought the iPhone 3GS and started looking at some of the apps that my guys were always talking about. Here is a cool one I found for Real Estate; Sherwin Williams—you know the paint store, they have this cool app. So let’s say you are thinking about re-painting the living room, but your favorite couch is not in need of re-covering. Well take a picture with your iPhone of the couch and the app will give you the primary color and two secondary colors that you could use to accent the room with. even gives you the Sherwin Williams paint numbers so you could go to the store and get a sample! How cool is that? If you have an iPhone, the app is FREE. 
Shorewest also has this really cool app for finding homes with a geo locator feature. Let’s say you’re having your favorite cuppa at Starbucks in Oconomowoc and you want to know all the available homes for sale around your location. If you have loaded the FREE iPhone app for Shorewest it is a snap. A couple quick taps on the phone and voila you have the latest inventory at your fingertips, literally! Click here to view and download the free Shorewest Iphone app.
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Well it might not be there in time for many home owners who find themselves “underwater” in their mortgage. As a heads up the new HAMP program or Home Affordability Modification Program, that Washington put in place, has a few changes that were recently implemented. The goal is to streamline the process. Click Here for more information on the HAMP changes.
In other news, a report recently released indicates that FHA is in good shape. Some people critical of the FHA were concerned that they are taking a bigger risk in the mortgage business with their dramatic increase in market share. This story makes the point that their share has risen from a 3% market share to a 30% market share almost overnight. A personal note: FHA has played a role in the real estate recovery; however the low down payments are very concerning. Yes FHA requires a higher credit score, however even with good credit if one of the two persons who are buying the housing loses a job (a possibility in this economy) or their income is adjusted slightly, does FHA think those borrowers wont default? These are difficult times for everyone. The sooner we move towards responsible lending and borrowing the better our recovery will be. If the borrowers continue to live on the edge we could face another round of difficulties.
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Straight from the News Hub desk is this quick video on the housing market. Now is the time to consider buying your home IF you can afford it. Real Estate has always been a very good long term investment. If you are contemplating buying a home now is the perfect time, interest rates are low and the supply is vast. Check the video out for yourself and decide if it is best for you.
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This incredible home is situated on a almost 1 acre city lot that is adjacent to a beautiful park. There are 4 large bedrooms on the second floor with an optional 5th bedroom in the finished lower level, handsome family room with bookcases that flank the bricked fireplace. A large kitchen with sunny southern-facing dinette also features an island and plenty of counter space. A 3.5 car garage is ideal for extra storage. Priced at $274,500 1391 Forest View Lane is the perfect home for a buyer looking for extreme value.
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We just had a great Brokers Open Here the other day and I always enjoy hearing what the other agents have to say about a property. As you can see from the pictures this home is fabulous. The 9,000 plus square feet of living space is definitely worth seeing. While the style lends itself to a more formal feel, overall that is not what the agents said. Agents are in hundreds of homes all the time and we have seen everything from the 
gaudy to the classic. With a house this big you might think they would comment on how large the house was, but they didn’t. Actually most of the 50 or so agents that toured this magnificent home said that it felt like home! That is quite a statement in itself. What they were really saying, if I can interpret the comment, was this; the house, while large did not make one feel lost, rather they enjoyed the unique well planned spaces. Each room was not overwhelming rather it was inviting. 
These are huge compliments to the already inviting home. If you are interested in a truly classic home with eye towards family comfort and formality see this link or call me for a private showing, 1-888-HEY GLEN. This property is located in the Grandhaven subdivision in the town of Delafield and is currently listed for $1,595,000. Click here to view full details on this property.
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The Waukesha Symphony has announced their new schedule and one of the venues will be our very own Oconomowoc Arts Center. If you have not been to the OAC you must see this fabulous setting. Glenn Hanon
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In Wednesday’s edition of the Wall Street Journal the paper pointed to an ominous sign on the horizon with respect to foreclosures across the United States. You can read the full article here. According to Kerry Grace the articles author, many of the larger banks voluntarily suspended some of their foreclosure processes while they awaited the bailout money. The resumption of the foreclosure process could add an extra burden to the already soft real estate market. If you find yourself in an otherwise difficult situation and foreclosure may be your final option, wait. There are some other alternatives that we can discuss before you throw in the towel that will not only protect your credit score but can make it less difficult to buy another home. If you would like an honest evaluation of your home and the net that you will receive from a sale, call Glenn Hanon at 262-567-4349 or email me at ghanon@shorewest.com. I may not be able to keep you from the foreclosure process, but we can evaluate your situation and give you the best road to travel on.
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