Archive for tag Steve harney
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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September 21, 2010 at 02:42 PM
Fall is here, and with it, the annual question, “How much time is left to realistically market my home, before the holidays and winter weather interfere with house hunting?” I’m here to say, that NOW is a fabulous time to consider buying or selling! But, don’t take my word for it. Let’s see what our friend, Steve Harney, has to say.
Posted by: 
Karen Trepton
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June 09, 2010 at 12:00 AM
Headlines seem to change daily, so it is very difficult to sift through the deluge of information and discern the truth about what is happening in the real estate market. Distressed properties, “foreclosures and short sales”, seem to be increasing in numbers. This inventory is called “shadow inventory”, by the professionals. Estimating the shadow inventory, and tracking it, can assist in determining how the overall market will play out.
This morning, I pulled, from the MLS, a zip code within the lake country market, in Waukesha County. This area is filled with a mix of starter to luxury market properties. As of today, there are 422 active listings in this zip code. Then, I went to a leading website that lists distressed properties by zip code. It highlights Pre-Foreclosure, scheduled Sheriff Sale and Bank Owned properties. The same zip code had 101 properties in this category. Some of these homes may be represented in the “active” for sale market, but some are not. I did not go through each and every home to see if it was on the market, but it is safe to say, that as a percentage, there is potentially, up to an additional 25% market share of inventory that is “shadowing” the current inventory, and these properties are financially “distressed.”
How do you, as a seller, compete in a market that is impacted by these homes? To determine that, you need information that is accurate and timely. My favorite source, Steve Harney, outlines his explanation of how these properties will affect the overall market, in this timely article.
Knowledge is key. When navigating through these turbulent waters, take the time to get the information you need, as a seller, to be successful. As a “Certified Short Sale and Foreclosure Specialist,” I can assist you in this process. Remember, it’s not if the glass is half empty, or half full…but that there’s water in the glass! Drink up!
Karen Trepton…Certified Short Sale and Foreclosure Specialist
Posted by: Karen Trepton
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June 07, 2010 at 04:32 PM
When purchasing or selling a home, price is always a major factor. Location, condition, amenities etc., all play into the picture, but it generally boils down to what one is willing to accept “for the price.” In today’s market, home prices need to be more than competitive, they need to be compelling! How does one determine what “compelling” is? Steve Harney identifies 6 factors that must be considered when pricing a home for sale. They are:
- Demand
- Supply
- Interest Rates
- Employment Rates
- Foreclosure Inventory and
- Consumer Confidence.
Each category can be defined for your particular situation.
To find out how your home fits into these categories, contact me or your preferred agent.
Posted by: Karen Trepton
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June 04, 2010 at 11:39 AM
Southeastern Wisconsin is unique in that many lifestyles are represented in a small geographical area. One can live on the shore of Lake Michigan, or on the shore of a beautiful, spring fed, inland lake. Hobby farms and equestrian estates abound. Country living or upscale condo living is available. The luxury market can be found throughout these market segments. What was not unique to Wisconsin, was that the luxury housing market in our state, has taken a bit of a beating, just like the rest of the country. What seemed to be an “sure thing” wasn’t. No longer could one purchase a dilapidated cottage on a lake, and turn it around for a profit, merely by slapping up some paint, cutting the grass and putting in a for sale sign. “McMansions” sat idle, in favor of smaller, energy efficient. low cost mortgage properties. The rub is that many of these homes offer a wonderful opportunity for “dream lifestyle” living. The American Dream for some, includes boating and swimming from your own pier, viewing city lights from a penthouse suite, or riding the trails of meadowed and wooded acreage on a your favorite prize horse. It may include “movie night” with your neighbors in your private movie theater, showing off a car collection in your heated 5 car garage, or viewing the wildlife on the acreage of your country parcel. Whatever the “dream” is for you, luxury living can be wonderful.
What is happening with prices in this market? Let’s see what Steve Harney has to say about it . And, if you’d like to purchase or sell a luxury property, give me a call. I’d love to help you live YOUR American Dream!
Posted by: Karen Trepton
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June 03, 2010 at 07:16 AM
If you read my posts, you may recognize that I enjoy giving you, the reader, bits and pieces of what it’s like to live in Southeastern Wisconsin. I do some hard reporting on the state of the real estate market, but mostly, I enjoy painting the picture of what it’s like to live in Lake Country, Wisconsin.
However, I am asked frequently about the state of the real estate market, and decided that it is equally important to share with you, the big picture regarding housing in Wisconsin and the nation. My favorite source of information regarding real estate and where it’s heading, is from Steve Harney. I am a pin wearing, card carrying, blog reading, twitter and facebook posting member of “Harney’s Army!” He’s spot on in terms of sharing the truth about the market.
Steve was in Brookfield, today, and I was impressed with this particular comment, “The professional doesn’t see the glass as half empty, or as half full…but recognizes that there’s water in the glass.” I love that!! Buyers and sellers will continue to move, regardless of interest rates, home prices, inventory volumes, etc. My job, as a professional, is to equip my clients with the information they need to maneuver through the ever changing market with the greatest success.
So, in an effort to share my knowledge of the market, I am going to share Steve’s advice and insight on the market with you. Watch for daily links to Steve’s blog, “Keeping Current Matters.” The information is invaluable! My cultural posts will continue, as well, but these links are required reading for the buyer or seller who wants to be “in the know.” Today’s article touches on the subject of the Housing Recovery, and how “shadow inventory” will affect it. Feel free to contact me with questions.
Posted by: Karen Trepton
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April 12, 2010 at 02:28 PM
The local newspaper for greater Milwaukee posted an article that said real estate sales “surged” in March. I had several clients call me to ask about it. As my favorite real estate advisor, Steve Harney, states, telling the truth about the market to the public is our duty. Just what is the truth? Waukesha and Milwaukee county sale prices did increase in March, while Washington county saw a decline. Unit sales increased in the metro market. Does this mean that things are looking up for real estate?
Steve Harney addresses this issue in this recent blog post that highlights the 5 keys to a Real Estate Recovery. Please read this article, as his predictions, based on national economic indicators, show a continued decline in sales, with an increase in supply. The silver lining is this: priced properly, homes are selling, and rates, although creeping up a bit, are still better than they’ve been in recent decades. The clincher is this: history shows that when changes in mortgage rates occur, they tend to be fast and dramatic. If you are considering a purchase, now is the time to act! And sellers,don’t make your asking price competitive, make it COMPELLING! Your chance for the greatest profit now, before rates increase further and supply increases, as well.
Posted by: Karen Trepton
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March 19, 2010 at 03:04 PM
There are 42 days left to secure your home buying tax credits! Here’s another pertinent informational piece to assist you in navigating through the next 42 days.
Many buyers and sellers continue to ask what we, as experts, feel will happen with the market, after the expiration. There are many factors that will impact the rest of the year, but today we will focus on foreclosures. My favorite expert, Steve Harney, looks in detail at the foreclosure market in this article. Foreclosures will continue to drive the selling prices down, as banks start to release their inventory on the open market. This is great news for buyers. For sellers, it means that NOW is the time to maximize your selling price.
To see how Shorewest and I can maximize your selling price, contact me directly. I am committed to serving my buyers and sellers by promoting the truth about the market in a productive and positive manner.
Posted by:Karen Trepton
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February 15, 2010 at 01:20 PM
I just read an excerpt from an interview of executives from two large real estate firms in the United States; – the same day I attended our company Awards Breakfast at which we were treated to an update by Steve Harney, my “main man” when it comes to getting up to date information on what’s happening in the real estate economy. Guess what! The messages are in direct conflict about the future role of the Federal government in the housing market. It’s no wonder buyers and sellers find it difficult to predict what’s going to happen!
A little background – banks can sell their mortgages on the secondary market to Fannie Mae and Freddie Mac. The mortgages are then “bundled” and sold to private investors. In the past, these investments were very secure, but with so many homeowners’ currently in default and foreclosure, fewer investors want to risk their money on mortgage backed securities. To take the risk, investors want more interest. The Treasury Department and the Federal Reserve Board are purchasing these securities from Fannie Mae and Freddie Mac, the goal being to free up money and maintain lower interest rates so that buyers can get mortgage financing. According to the real estate executives in the interview, the Treasury Department is prepared to continue financial support to Fannie Mae and Freddie Mac for at least the next three years. Furthermore, the government is prepared to be involved in the housing industry for as long as it takes to keep the economy moving in the right direction. On the other hand, Steve Harney has stated that the contributions from the government to Fannie and Freddie have just about reached the levels committed to, and that after March 31st, the government may back off and allow the mortgage markets to adjust independent of government intervention. Furthermore, Harney commented that the President only briefly mentioned the real estate market in his latest address, indicating that the administration intends to turn its focus away from the housing market.
Both the executives interviewed and Steve Harney agree that less involvement by the Feds will most likely mean a rise in interest rates. According to the executives, a 1% increase in interest rates will hardly be felt in the real estate industry as a whole and is not enough to slow down sales, given that home prices are still low. Steve Harney takes the view of the CONSUMER. A 1% increase in interest rates has a large impact on buying power, translating into a higher monthly cost for the same home. In other words, higher interest rates mean YOU will get less “bang for your buck.
Posted by:
Cathy Butschke
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April 24, 2009 at 08:00 PM
When I started in real estate in the mid-90’s interest rates were pretty stable, fluctuating between 7 and 8%. Real estate agents and mortgage lenders thought those rates were GREAT. Apparently buyers and sellers did too, since home owners were selling and buyers were buying. Well, guess what – interest rates are now PHENOMINAL!! I just saw a posted rate of 5%, which is actually up a tic from the 4.875% I noted last week. Oh my gosh! Over the last 10 years I have refinanced my home 3 TIMES to get my current rate ….Now you can buy a home for a still lower rate. What does that mean? It’s all about monthly payments.
Suppose you fall in love with a home for $250,000. For simplicity’s sake, you can afford the traditional 20% down, and have a good credit rating (KEY to qualify for the best rates).
*Note – only loan principle and interest are included in payment information above.
The difference in monthly payments is disposable income! Money to spend on vacations, a new car…….whatever! It can mean that you qualify to buy more house – either in size, features or location - than you will be able to when rates increase again to 7-8%. If you are selling your home now, this difference in monthly payments means more buyers qualify to buy your home. A definite plus on both sides!
If you need more evidence that this can be a good market for buyers and sellers, check out my previous blog, Building wealth the real estate way.
Posted By:
Cathy Butschke
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