We’re half way through January, heading quickly to February and then soon after that spring will be here again.
As we move past the holiday season I want to encourage you to take a look at your real estate holdings.
Your home, your second home, your rental(s), or maybe the fact that you’re currently not a homeowner.
Why? Now may be an excellent time to jump into our real estate market. John Deininger, Realtors Association of South Central Wisconsin executive director, recently stated:
Some people do understand that getting into the market right now, whether it’s in stock equities, or real estate; will allow them to find opportunities that may not exist in the future. It’s a great time to buy, and I predict people will look back at the opportunities that currently exist and regret sitting on their hands.
More confirmation: Currently the average days a home has been on the market in the entire Wisconsin Rapids area is 200. Compare that to the average of 135 days on the market for a home that sold during 2008.
What does that mean? Odds are the best homes will have sold before it’s been on the market for 200 days. If you’re a little creative, a little handy and take a blind eye to wallpaper and bold colors you can find your diamond in the rough.
Obviously you cannot predict the motivation of every Wisconsin Rapids home seller, but to me if my home has been on the market for 6+ months I’m a bit edgy and am willing to negotiate with buyers.
If you want to talk about taking advantage of these opportunities click here to contact me today. Now may be the best time of year to start your search–homes that are on the market have gone through the winter with very few showings, plus with spring coming more homes will start to come on the market.
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This book normally sells for around $10 through Amazon and covers everything from your credit, retirement, savings, real estate as well as paying for college.
I’ve read multiple books written by her and have always enjoyed her books. It’s a bit tough to sit through her TV show, but she’s not as loud in print. 
She’s very blunt, but I feel that’s important especially with dealing with your financial future.
The book is currently available through Oprah.com for free. Hurry though, the free download ends tonight, Thursday, January 15 at midnight.
Download Suze Orman’s 2009 Action Plan here.
Amazon Link: Suze Orman’s 2009 Action Plan
A pre-qualification letter is an unverified, free test run of the loan application process. The lender will use your income, monthly debts, credit history and asset information as well as electronic credit reporting to verify your credit worthiness and estimate what you can afford for a mortgage payment.
A pre-approval letter is a firmer commitment by the mortgage lender based upon a complete application with a fee, credit check and employment verification.
A pre-approval letter says that a mortgage loan is approved for a certain amount of money for a certain amount of time, which is subject to an appraisal of the property.
If a pre-approval letter is required in your offer to purchase, the offer should clearly state what is needed and in what form. Because a pre-approval letter might be mistaken for a loan commitment, which will waive your financing contingency, your lender should indicate in your pre-approval letter that it is not a loan commitment.
You can see their are 3 levels that you’ll go through to complete the purchase of your next Wisconsin Rapids home.
First, a pre-qualification letter lets you know where you stand and is a guideline you can use to know how much home you can afford.
Next, a pre-approval letter is a more thorough evaluation of your credit and income. The pre-approval letter is guaranteed for a specific amount of time for up to a specific dollar amount and interest rate.
Lastly, a loan committment signifies that the financing contingency has been met and that financing will not hold up the closing on your new home.
Thanks to Wisconsin Real Estate Magazine
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The holiday edition…
Once again it’s a new month and that brings with it a summary of the Wisconsin Rapids area real estate market for the month of December.
First time here? This is a monthly post designed to shed light on the local real estate market. I publish this report because this is an excellent time to learn about the Wisconsin Rapids real estate market. Want to stay up to date? Click here and articles will be delivered directly to your inbox.
The data was gathered through the MLS, so the data is deemed reliable but not guaranteed. Click here to read the October market report and here for November.
Single Family Wisconsin Rapids Homes:
- Active Homes for Sale: 250 (including 12 new listings in December)
- Average List Price: $127,173
- Homes Sold in December 2008: 10
- Average Sale Price: $75,154
- Median Sale Price: $62,070
- Average Days on the Market: Active: 250 Sold: 173
- Average Sale Price/List Price: 93.7%
- Expired Listings: 14
Single Family Nekoosa Homes:
- Active Homes for Sale: 106 (including 4 new listings in December)
- Average List Price: $192,258
- Homes Sold in December 2008: 4
- Average Sale Price: $71,200
- Median Sale Price: $78,700
- Average Days on the Market: Active: 228 Sold: 124
- Average Sale Price/List Price: 89.9%
- Expired Listings: 8
Single Family Port Edwards Homes:
- Active Homes for Sale: 18 (including 2 new listings in December)
- Average List Price: $89,730
- Homes Sold in December 2008: 2
- Average Sale Price: $56,150
- Median Sale Price: $56,150
- Average Days on the Market: Active: Active: 170 Sold: 92
- Average Sale Price/List Price: 89.6%
- Expired Listings: 1
For More Info:
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PHONE: (608) 542-0178
My name is Adam Holberg and I’m a Realtor with First Weber of Wisconsin Rapids. This website is designed to inform and help bring conversation to a topic I love, real estate.