Tuesday March 19, 2024

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State of the Real Estate Market October 2017 and What to Expect in 2018! PDF Print E-mail
Business & Jobs - Articles for Business
Written by Bruce Nemovitz, Realty Executives   
Monday, 23 October 2017 16:29

bc_houseBruce has over 35 years of experience in helping people make real estate decisions.


BROOKFIELD, WI - Many of you have asked how the real estate market is doing and the market is ever changing.

The first half of this year was fabulous in almost all sectors. Homeowners were receiving multiple offers within hours of putting their homes on the market! This did not happen in all cases, but if the home was priced properly based on condition the result was positive. Overpricing a home is always a bad idea, especially when the market is strong because buyers wonder why a home is sitting on the market for longer than a month.

I expect the market to flourish next year, especially in spring. The best months to sell are late February to the end of May. That is when buyers will pay the highest prices for the year. If you are thinking of buying first, the off months are the best time to buy (November-February). There are less buyers competition and sellers price their homes during the off months realistically due to need type sales (death, divorce, job relocation, health reasons). They are motivated to sell quickly and price homes accordingly. If you buy in the off months, you can then capitalize on selling your home in spring and you will know where you are going to live.

bruce-nemovitzI am often asked what are the best improvements to make to get the ‘best bang for the buck’. Paint, paint, paint! That is the cheapest and best way to get your home ready for market. But the key is to paint with colors that resonate with today’s young buyers. Examples are steel grey in living rooms and hallways, pale green in kitchens and tope in bedrooms. There are many other colors that work and you can always go online to check out what are the most popular colors for today’s savvy buyer.

Make sure all defects are corrected, especially roof, basement and furnace. It is critical that your electrical system is at least 100amp circuit breakers because insurance companies won’t insure a home in most cases with 60-amp service.

If the exterior needs paint, do it now! It is still warm enough. So often I get a call in winter or early spring to sell a home and the exterior trim and siding show poorly. There is nothing you can do about that when temperatures are below 60 degrees in most cases. So, think ahead.

If you have a parent that needs to sell in the coming year or two, start the downsizing process now! We work with professionals who can help. Just give us a call or email and we will send you the information to connect with the professionals we trust. Downsizing can be so easy if you let others help!

Don’t hesitate to call us with any questions you may have. We have over 35 years of experience in helping you make the best real estate decisions for your future!!

Enjoy Halloween and we hope to connect with you in the coming year!

 
How is Your Home Fairing in This Market? PDF Print E-mail
Business & Jobs - Articles for Business
Written by Bruce Nemovitz, Realty Executives   
Wednesday, 13 September 2017 13:17

bruce-nemovitzWAUKESHA, WI - Now that fall has arrived, many of my clients have asked about the real estate market and what is the best time to sell. Most wonder if this healthy market will continue. Many are concerned about a future recession or "stumble". I thought I would share my views on the market as well as provide you with the latest stats as to sales and listing activity in each area.

Spring was one of the best we've seen for sellers. There were many more buyers than homes offered which lead to multiple offers in many cases. Home prices increased in most areas by about 5%-7%. We have seen a slow down of activity June-present as many buyers called it quits as they could not find a home. Many sellers decided not to sell because they wanted to cash in on the appreciation. However, the market is still strong.Typically, activity will increase in a week or so and then peak at Thanksgiving. After November the market generally slows down again until mid-February. These selling patterns are important as to timing a sale for the best results.

As for the future of home values, after over 35 years watching patterns and fluctuations, my feeling is that home values will continue to increase over the next 3-5 years barring any national or world events that are unpredictable. The demand for senior housing will increase as the boomers are ready for downsizing and selling. Boomers will want condominiums or senior apartments with amenities that match their needs.

Feel free to contact Jeanne or me as to specific valuation for your home. We can send you a "market snapshot" so you will automatically receive up to date activity in your neighborhood! You can call at 262-242-6177 or email to: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 


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