Wood Counties second quarter housing statistics were recently released. View the report now.
As you might expect the total number of homes sold is at its lowest point in the past 10 years. Overall the number of home sales is down 7% from this time last year. Home sales are down a whopping 29% since its peak in 2006.
Yes, home sales are down, but homes in Wood County are continuing to appreciate.
Our area has always prided itself on being a hard-working close knit community. Because we’re more blue collar than white collar the housing market is not predisposed to balloon or crash out of control. Like many areas of the country. This is evidenced by our consistent, albeit, slow rate of appreciation. 2007 saw an abnormal spike in home value, up almost $7000 from $93,700 to $100,000, but by 2008 we returned to “normal” and we’re on the same path again this year.
My question to you: What factor(s) would go into you deciding to place your home on the market? Obviously your job situation is most important. You must feel that your job is safe… But if you feel safe, is the local and/or national real estate market keeping you from selling your current home?
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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.
Hi Adam. Nice post , as always. I do not live in your area so this will not be a specific post to Wisconsin Rapids real estate. And disclosure, I do work for First Weber. I have been tempted to move recently because of the buys out there. I feel we could get a decent amount of money on our home – we’d come out way ahead, actually, and buy low. Very tempting! Layoffs in my household have affected our income and stability. I am glad First Weber offers the job loss protection program through the Rainy Day Foundation. That certainly should help anyone on the fence. Problem is, we are not on the fence. We already have job loss. So that’s my story. I’d move in a heartbeat now if my family stuation was more stable.
I’m looking forward to what the Job-Loss Protection program has to offer. I’ve yet to sit in on the training but it is on my to do list.
I completely understand what you and your family are going through. Three years ago I was completely blindsided when I lost my teaching position because of budget cuts.
We had just taken out a home equity loan to fix up our kitchen along with some other home improvements… We were literally 2 days away from using half of that money for our new kitchen… Had to cancel that plan. We ended up having to use the home equity loan to help us survive the next year, because as every other teacher knows, finding a non-teaching job you’re qualified for is extremely difficult.
Sorry to ramble, but I wish you and your family the best as you work your way through this setback.