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Foreclosures Lower Prices by 32%
Posted on July 9th, 2010 No commentsA first-of-its-kind report by RealtyTrac showed Wisconsin buyers on average saved about 32 percent on their purchases of homes that were in some stage of foreclosure — in default, scheduled for auction or outright bank-owned — from January through March, according to the Wisconsin State Journal. -
Wis. Foreclosure Filings Declining So Far in 2010
Posted on July 6th, 2010 No commentsForeclosure filings dropped more than 13 percent in Wisconsin in June and now are running slightly below the total in the first half of last year, but it’s too soon to call it the beginning of a turnaround until the job situation improves, analysts said in the Milwaukee Journal Sentinel. -
Economist: Wis. Unemployment to Edge Higher
Posted on July 6th, 2010 No commentsBruce Bittles, chief investment strategist with Milwaukee-based Robert W. Baird, said unemployment is likely to creep close to 10 percent by the end of 2010, and “home prices could come under pressure again” in the next six months. Read the Small Business Times story. -
Few Homebuyers Despite Historic Low Rates
Posted on June 25th, 2010 No commentsMortgage buyer Freddie Mac reported that the average interest rate on a 30-year fixed-rate mortgage in the U.S. slipped to an all-time low of 4.69%, down from 5.42% a year ago. However, many consumers are taking a pass on the opportunity to purchase homes — which also have come down in cost during the real estate slump — regardless of low interest rates. Read more in the Milwaukee Journal Sentinel. -
WBA: Financial Reform Bill Needs Work
Posted on May 21st, 2010 No commentsThe financial regulatory reform overhaul passed by the U.S. Senate yesterday fails to address the root causes of the housing collapse and subsequent financial crisis, according to the Wisconsin Bankers Association in a news release posted on WisBusiness.com.
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Low Rates Are Biggest Benefit to Homebuyers
Posted on May 2nd, 2010 No comments“With or without tax credits, the low rates continue to provide the prime motivation for homebuyers. The increased affordability the low rates provide for the life of the loan outweigh the short-time immediate benefit of a tax credit,” wrote Jim Zimanek, a residential loan officer with Associated Bank, in a column for the Appleton Post-Crescent.
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Home Sales Upswing Could Be Temporary
Posted on March 21st, 2010 No commentsAfter more than three years of falling home prices and slow sales, real estate and mortgage professionals say they anticipate sales building through April as home shoppers try to beat the April 30 expiration of a federal tax credit of up to $8,000 for first-time buyers and $6,500 for move-up buyers. But whether any momentum will continue after the tax credits are gone is difficult to predict. Read the Milwaukee Journal Sentinel article.
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Milwaukee Home Sales Down Compared to ‘09
Posted on March 10th, 2010 No commentsSales of existing homes fell slightly in February from the same month last year in the four-county Milwaukee metro area, the Milwaukee Journal Sentinel reported.
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Wis. Home Sales Rise; Prices Drop 7.7%
Posted on February 11th, 2010 No commentsBoosted by a fourth-quarter rally, sales of existing homes in Wisconsin last year slightly topped totals in 2008, but the median sale price fell 7.7 percent, to $143,000 from $155,000, the Milwaukee Journal Sentinel reported.
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Milwaukee Area Home Prices Drop 7.7% in ’09
Posted on January 28th, 2010 No commentsAverage home prices in the Milwaukee area fell by 7.7 percent in 2009 and are expected to decline another 3.4 percent this year, the Fiserv Case Shiller Indexes show. Read more in the Milwaukee Journal Sentinel.