Wisconsin Banking Update
Providing banking news in Wisconsin that Wisconsin Bankers can use. Keep on top of all the banking issues that are affecting Wisconsin in one place. If you would like to receive these updates by email please subscribe by entering your email address on the right. There is no cost and no obligation.
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‘Think Like a Banker’ in Foreclosure
Posted on February 27th, 2011 No comments“Don’t give up your home without a ‘good’ fight. We don’t mean tearing the house apart or suing the bank. We mean an intelligent battle during which you make the best financial decisions for your future,” writes Mark Balaban of the Manitowoc County Board of Realtors in a Manitowoc Herald Times Reporter column. -
14% of Wis. Home Sales Were Foreclosures
Posted on February 25th, 2011 No commentsNearly 14 percent of all homes sold in Wisconsin last year were foreclosure properties, and they tended to sell for about 35 percent less than non-foreclosed homes, according to RealtyTrac. Nationally in 2010, about 26 percents of all U.S. residential sales were foreclosure deals and the average discount was 28 percent. Read the Milwaukee Journal Sentinel article. -
Bank-Owned Properties ‘Overrun Market’
Posted on February 25th, 2011 No commentsThere were 1,117 foreclosures cases in Adams, Columbia, Sauk and Juneau counties in 2010. “At one time, foreclosures were nearly unheard of in the area, local realtors say. But now, the glut of bank-owned properties, or REOs, have overrun the market – and may continue to do so for several more years,” according to the Wisconsin Dells Events. -
Home Permits Down 2.5% in Metro Areas
Posted on January 11th, 2011 No commentsPermits to construct new homes declined 2.5 percent last year in Wisconsin’s five biggest metro areas, a new report shows. The Milwaukee area and Dane County markets saw increases: 2.8 percent and 1.2 percent, respectively, from 2009. Read the Milwaukee Journal Sentinel article. According to another article, the average price of existing homes sold in the metro Milwaukee area inched upward in 2010. -
Existing Home Sales Down 11% in Milwaukee Area
Posted on November 10th, 2010 No commentsSales of existing homes in the metro Milwaukee area are down 11 percent for the year after a big drop in October, and analysts say there is no prospect of a fast turnaround, the Milwaukee Journal Sentinel reported. -
Milwaukee to Receive Wells Housing Grant
Posted on October 25th, 2010 No commentsThe Wells Fargo’s Housing Foundation announced grants totaling $5 million to nonprofit housing organizations in 34 cities, including Milwaukee, as part of the company’s effort to increase the availability of affordable housing. Read the Small Business Times article. -
Milwaukee Home Sales Down 29% from ’09
Posted on October 11th, 2010 No commentsSales of existing homes in the Milwaukee metro area fell 28.6 percent in September from a year ago, but average sale prices of homes sold in Milwaukee, Ozaukee, Washington and Waukesha counties rose during the first three quarters of 2010, according to the Milwaukee Journal Sentinel. -
Milwaukee’s Home Sales Drop Off
Posted on September 10th, 2010 No commentsSales of existing homes in the metro Milwaukee area fell for the third consecutive month, dropping 37 percent in August and dragging totals for the year into negative territory – a place a local industry leader says they may reside until the job situation improves, according to the Milwaukee Journal Sentinel.
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Rates, Inventory Offer ‘Deal of a Lifetime’
Posted on August 7th, 2010 No comments“The inventory of homes on the market has never been greater. Combining the low long-term rates with the market inventory and motivated sellers and buyers will realize the ‘deal of a lifetime,’” writes residential loan officer Jim Zimanek in the Appleton Post Crescent.
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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.