Archive for tag Real estate market
January 06, 2012 at 12:00 AM · Posted under Glenn Hanon
A few months ago, I was honored to be featured as the first agent of the month for a national blog "Keeping Current Matters." As a fellow blogger, I have always been highly impressed with the KCM team and their up to date analysis of the real estate market. What I appreciate most about their blog is that the KCM team is intent on providing accurate analysis of trends, developments and the voluminous data that permeates the media with respect to real estate. Steve Harney, the founder of the blog, and a guy I can really relate to says, "It isn't good news and it isn't bad news it's just news." This really sums up part of their approach.
The other little know factoid that the public may not know about is that the KCM team really cares about neighborhoods. As Realtors, we are on the front lines of the ever changing market and it is up to us to help everyone we meet to make the best possible decision when it comes to selling their home. It is the only way we really are going to pull, kick and drag our way out of the mire. So kudos to you KCM for your commitment to real estate and each seller who needs an expert to navigate the turbulent real estate waters.
Posted by: 
Glenn Hanon
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January 03, 2012 at 06:10 PM · Posted under Area Attractions & Events, Glenn Hanon, Market Stats
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.
Posted by: Glenn Hanon
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December 27, 2011 at 12:00 AM · Posted under Glenn Hanon
Difficult times cause some people to take drastic action without thinking. If you are in the midst of a very tough real estate scenario, I want to encourage you to think before you act. I am referring to a sale of a home where the seller, due to some very difficult circumstances, found himself in a short sale which quickly turned to a bankruptcy. The large home had many fine accoutrements, most notably the high end kitchen. The owner, thinking these “fixtures” were his to do as he pleased, (they were not) decided to sell the Sub-Zero refrigerator, Wolf ovens, cooktop etc., you get the picture of what happened. Light fixtures were sold, under cabinet lighting, in-ceiling speakers, a fireplace and the list goes on. In essence, the homeowner stripped the house. This warning is for sellers and would be buyers on internet resale sites. These items could be considered “stolen goods.” The penalty for a homeowner is severe.
The bank in this case decided to pursue criminal proceedings against the past homeowner—Grand Larceny, a fine punishable up to 10 years in prison and a $25,000 monetary fine. Buyers of these stolen goods can be tracked down as well. If you thought the deal on the gas cooktop was too good to be true, it may have been. Buyer beware is often the rule of thumb for these types of sales. As a buyer, if you think the property is stolen, you could be in violation of Wisconsin Stats 943.34, which is a felony depending of the value of the stolen items. If you know someone who is going through a tough time please encourage them not to take this course of action. It is in their family’s best interest to think before they sell. Families face real devastation with the loss of a home, but prison time should not be part of the equation. Let’s all help those we care about most to do the right thing.
Posted by: Glenn Hanon
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December 21, 2011 at 05:43 AM · Posted under Glenn Hanon
The end of the year is always a great time to look back at past achievements and milestones. Here are a few that I thought are significant.
Q: How many unique visitors have clicked on Shorewest.com?
A: 2.6 million or 50,000 per day!
Q: The public will hear that home sales have increased 20-25% in 2011. What percentage sold under $300,000 in 2011 in the Lake Country Area?
A: 70%
Q: How many HOTLINE calls has Shorewest received this year on our listings?
A: 6,500
Q: What is the percent increase of a home in the LC area since 2000?
A: 30%
Q: What percentage have homes decreased in LC since the peak?
A: 21%
Q: What is the consensus of the expert economist’s opinion as to where home prices will be in the first quarter of 2012?
A: Down 5%-7%
Q: Who is the local Expert in Real Estate in the LC area?
A: Glenn Hanon—I know I couldn’t resist, but it is true!
2012 holds some unique opportunities in Real Estate, despite the predictions. If you are looking for solid expert advice feel free to give me a call. Have a wonderful Christmas and a safe New Year! Go Pack Go!!
Posted by: Glenn Hanon
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December 02, 2011 at 05:11 AM · Posted under Glenn Hanon
After 23 years of assisting families with the purchase or sale of a home I have noticed trends in behavior, currents as you will, of thought. A homeowner’s biggest concern is what they will eventually sell the house for. I will highlight three phases of the sale process that most sellers go through.
The first stage is denial and anger. The seller generally does not like the listing price since their perception of value is very different from the market reality. When an offer comes in lower than the list price anger tends to surface. Many sellers quickly move to denial, the wakeup call to the market is often met with swift resistance and a disbelief that the agent really understands what he or she is doing. Some agents are met wit
h outright hostility.
The second stage is consent. For some sellers consent comes quickly and the opportunity of an offer turns into a contract of sale. For others consent comes long after the first offer has passed. Guess what? The seller now has a better understanding of value but makes the fatal flaw of thinking the lost offer price is the new market price. Experienced agents know what I am talking about and this is why we continually try to educate sellers that the first offer is the best offer in good markets and in bad markets. This ‘post offer consent’ can continue to frustrate a seller primarily because they still have not relied on their agent as a valid sounding board.
The final stage is acceptance. It is in acceptance that the seller puts their full trust in their agent. Sellers who do well selling homes have this trait in common. They trust their agent to give them good information, to think of their interests above the agents interests. They rely on the professional to give professional advice. The seller does not necessarily like the price that they are accepting but they understand intuitively that the odds for a better price diminish with time. This is especially true with a declining market that we find ourselves in today.
As a seller your best interest to you, is in the agent you select. Selecting an agent to represent you because you like the price they are telling you is not always the best indicator of true success. Successful sellers enter the relationship with acceptance. Ask for facts and data. Let the agent prove that he or she knows what they are talking about. Look at their track record of success and be willing to listen to what the market is telling you, even if you don’t like it. This acceptance will most likely save you thousands!
Posted by: Glenn Hanon
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November 15, 2011 at 06:12 PM · Posted under Glenn Hanon, Market Stats
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.
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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.
Posted by: Glenn Hanon
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October 26, 2011 at 12:39 PM · Posted under Glenn Hanon
There is no doubt that the burst housing bubble continues to have a dramatic effect on the real estate market. Wisconsin and more closely, Waukesha County feel the devastating consequences of the foreclosure market. Waukesha County Sheriff’s department has processes about 50 sheriff sales per month. The pace is the same as in 2010. However the notices of foreclosure action filed with the department year to date equal 1,258 new cases! 125 new notices of future foreclosures are filed with the sheriff’s department each and every month. This coupled with the short sales have created an interesting toxic brew in the real estate industry. Now, let’s pull the numbers apart.
The chart to the right shows the average sales price of homes from 2000 to 2011 based on MLS statistics in the greater Lake Country area. If you purchased your home in 2000 for $262, 515 and your home is now worth $344,418 and you put 20% down on your home your new equity for your home is $82,000 or a 56% return on your initial investment (ROI). Yes, your home is worth much less than the peak in 2006 but your ROI is an astounding 56%! How did the S&P do for the same period? According to MSNMoney.com, the S&P is down 19% from January 2000 to October 1, 2011. So why do we have all the distress? Many used their home as a piggy bank during the run-up in prices and re-leveraged their home to the 2004 or 2005 prices. Their home was a good investment but the misuse of the investment has left some upside down which in the end has adversely affected current pricing. The level of incoming foreclosure action comes down to an important point: The oversupply of inventory will remain for some time. If you are selling now it would be wise to price your home compellingly.
Posted by: Glenn Hanon
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March 14, 2011 at 04:45 PM
This fabulous home listed by the Kuchta's, Kelly and Colleen of Shorewest Realtors, is located at 805 Casey Drive Watertown, Wisconsin 53094.
Watertown, Wisconsin. This remarkable open concept 3 Bedroom, 2.5 bath home is only available due to a job transfer. You will save plenty money on your utility bills because this house was built with 2x6 construction, by an Energy Star quality builder. The lovely sunny kitchen offers a center island, a sizeable pantry and is open to the eager dining area with patio doors to the large deck. The family room offers hardwood floors and a raised-hearth gas fireplace, perfect for those cold nights.
The living room is just beyond the family room and offers more space to spread out and be relaxed. The master bedroom suite is completed by a delightful tray ceiling with crown molding, a walk-in closet and full bath. You will find two more bedrooms with ample closet space and another warm full bath upstairs. The lower level offer full sized windows, accessible for another bedroom or a amazing rec room and is plumbed for another bath. The back yard is fenced for your privacy, well landscaped and offers a large shed. The garage is three car tandem for extra storage. Sq ft of 1856 per taxes, not verified by broker.
For more information please click here.
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For a private showing, please contact Kelly or Colleen Kuchta.
Kelly's Email: ; Cell : 414-651-1613.
Colleen's Email:; Cell: 262-894-6512
Posted by: 
Kelly Kuchta
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March 10, 2011 at 07:55 AM
This Fannie Mae HomePath 3 BR home is located in the heart of Oconomowoc looking for love. Lowest priced home in Oconomowoc! A neglected home is in need of some serious repairs, including siding, windows, drywall and carpeting, just to name a few. Loaded with potential, a definite investment special! Cash only. A little imagination can pay big dividends.
Check out our link below for more Information:
http://thekuchtas.shorewest.com/1177872?pres_agent=29060
For a private showing, please call or email Kelly or Colleen Kuchta.
Cell: 414-651-1613.
Cell: 262-894-6512.
Posted by: Kelly Kuchta
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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:
Cell: 414-651-1613
Email: kkuchta@shorewest.com
Come back next week to see New Listings.
Posted by:
Kelly Kuchta
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November 05, 2009 at 04:07 PM
The Government Affairs Communications Director for the National Association of REALTORS® has informed us that the Senate just voted 98-0 to pass the Tax Credit [within the Unemployment Bill]. In her words…
“It now goes to the House. Expect Democratic leadership to place the bill on a fast track for passage on Thursday.
It could get to the President on Friday.”
Great news for homebuyers and sellers, alike! Stay tuned for the final decision.
Posted by:
Karen Trepton
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September 25, 2009 at 08:21 PM
Many sellers are faced with either dropping their price to unacceptable levels or having to rent their homes out. However, there are alternatives.
There is an increase of buying activity. Doesn’t mean we will see an increase in pricing. Don’t forget the supply and demand “Rule”. Supply is still bountiful. Price your home to sell now. 
This is your best chance as a seller to price it right and get on with your life and whatever has caused your situation to bring you to want to sell your home. Remember, you don’t want to help other listings to sell, you want the competition to help sell yours. For more information please call or email The Kuchta’s at kkuchta@shorewest.com, 414-651-1613 cell or office 262-437-5846 to help.
Posted by:Kelly Kuchta
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September 14, 2009 at 02:34 PM
If you are wondering where summer was in July, it waited to arrive in Wisconsin until September! We have been experiencing some absolutely beautiful, summer-like days over the last two weeks! My 7th grade son reminded me that in fact, summer doesn’t officially end until September 23rd. So thank you “Mother Nature” for serving up summer until the last possible second!
Summer is my favorite season. I’m a lake gal, always have been, and always will be. While at one of my listings, on Golden Lake this weekend, it looked and felt like summer, not the middle of September. Conversely, in spite of the balmy temps, the changing colors on the trees, the fog on the lake in the morning, and the ducks flying in their precise V formations, all point to the inevitable end of summer.
In my home, fall always marks the beginning of the New Year. I think the calendar year should be September to August. September is when I organize our household for the new school year; we start putting away the lake gear to prepare for winter; there is a renewal of schedules and activities; real estate is always rocking and I attempt to start a semblance of a fitness program. My “new year resolutions” are considered in the fall, not in the middle of winter. I take stock of my personal and professional goals.
With regards to real estate, sellers often wonder if they should wait until spring to hit the market. I am here to say, “Don’t wait!” If you need to sell, now is the time. Our market is no longer a fall/spring market place. The days of putting on a property in the spring, and pulling it in the fall, are over. Signs of price stabilization and improvement in the market are starting to be noticed, however, the big market picture predicts that overall market appreciation will not start in Wisconsin until 2012. This means that the pricing games of a few years ago will not be effective now. Sellers need an aggressive, accurately staged marketing and pricing program to achieve a successful sale.
The good news, and there is ALWAYS good news, is that sales are starting to creep up, buyers are actively looking, and agents in our Lake Country office are busier than ever! As reported in the Biztimes…
Shorewest sales up for third straight month
Brookfield-based Shorewest Realtors says its booked sales are up for the third month in a row. Shorewest said its booked units are up 26.7 percent, volume is up 11.5 percent and listings are up 6 percent.
“We’re excited to see our business increase over last year,” said Shorewest vice president of sales Ted Dentice. “Our sales associates are working extra hard to put sales together and with the help of our mortgage company - Wisconsin Mortgage Corporation - close them.”
“Our offices are busy,” said Joseph A. Horning, president of Shorewest. “Plus, we’re seeing more people in our open houses. I think people are realizing that now is a great time to buy whether it’s their first home or they’re moving up in home value. Prices are good and mortgage rates are still low. Plus, the $8,000 First-Time Home Buyer’s Credit is also still available through November 30. We’ve also just launched a new Job Loss Protection Program that gives buyers added confidence when purchasing a home.”
If you are considering a sale, call me. I’d love to show you how Shorewest and I can help you realize your new year’s resolution of a home sale, a reality.
Posted by:Karen Trepton
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June 16, 2009 at 08:38 PM
One of the best things about the “Power of Shorewest”, is that our management team does whatever is necessary to supply us, as agents, with the most current and effective information, in which to educate our buyers and sellers about the market. I just left a very informative conference regarding national housing trends, and specifically, how those trends affect our local Southeastern Wisconsin real estate market. Our guest speaker, a national real estate expert, left us with the message that “Realtors can help save the world economy!” I didn’t exactly sign on as a “world economic savior” when I received my license, however, in all seriousness, the fact that the world economy is tied to the United States economy, and the U.S. economy is driven, in large part by housing, does put Realtors® in a unique position of educating our buyers and sellers about how their home buying and selling decisions can assist in stopping the downward spiral of the housing market.
The biggest questions buyers and sellers alike are asking is, “Where is the bottom of this downturn?”, and “Is now a good time to buy or sell, or should I wait?” Let’s start with the first question.
According to some recent reports
, Washington sources are saying, “WASHINGTON -Single family construction posted a modest rebound in April, raising hopes that the three-year slide in housing is leveling off. But a bulging supply of unsold homes, record levels of foreclosures and still-falling home prices suggest a sustained recovery isn’t likely until next spring at the earliest.” Foreclosures are still on the rise, with reports on Bloomberg.com stating that as many as 700,000 homes are still being held in the wings, by major U.S. lenders, and are yet to hit the market, affirming the article cited above. So, is this the bottom?? If it isn’t, it’s close.
Now, let’s look at the second question…
Even if there is a bit more room in pricing regarding hitting the “price bottom”, rates are starting to inch back up. The Feds have stepped in to artificially control this trend, but eventually, the normal course of free economics will supercede, and rates will climb. The trade off between price and rate, may indicate that now is the time to act. To read more about this, check out a recent article
on my personal blog.
Posted by:Karen Trepton
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April 16, 2009 at 09:00 AM · Posted under Glenn Hanon
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.
Posted By:
Glenn Hanon
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