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…the I can’t believe it’s the start of a new decade already… and to think the apocalypse was supposed to start over a decade ago…
You can read previous market reports to see for yourself what our real estate market has been doing.
Thirty-nine homes were added to our MLS this month. Including 25 homes in Wisconsin Rapids. New listings are starting to climb after a slow December.
If you’re ready to start formally searching for homes, you know, moving from just online to getting in touch with an agent… Let me know and we can get you started. Plus I’ve recently changed my contact page, so you know, why don’t you check it out?
Happy house hunting!
First time here? This is a monthly post designed to shed light on our real estate market. I publish this report because now is an excellent time to learn about the Wisconsin Rapids real estate market. By arming yourself with a little real estate education you’re setting yourself up for success when you decide to buy or sell your next home. Want to stay up to date? Click here and articles will be delivered directly to your inbox. As always, it’s free. Plus you can always unsubscribe at any time. Every month more and more people are signing up. It makes me feel like you like my writing…
The data was gathered through the MLS, so the data is deemed reliable but not guaranteed. You know the drill…
Single Family Wisconsin Rapids Homes:
- Active Homes for Sale: 222 ( including 25 new listings in January)
- Average List Price: $125,125
- Homes Sold in January 2010: 8
- Average Sale Price: $143,112
- Median Sale Price: $134,250
- Average Days on the Market: Active: 218 Sold: 219
- Average Sale Price/List Price: 93%
- Expired Listings: 10
Single Family Nekoosa Homes:
- Active Homes for Sale: 108 (including 10 new listings in January)
- Average List Price: $177,836
- Homes Sold in January 2010: 0
- Average Sale Price: $–
- Median Sale Price: $–
- Average Days on the Market: Active: 248 Sold: –
- Average Sale Price/List Price: –
- Expired Listings: 4
Single Family Port Edwards Homes:
- Active Homes for Sale: 17 (1 new listing in January)
- Average List Price: $109,135
- Homes Sold in January 2010: 1
- Average Sale Price: $108,000
- Median Sale Price: $108,000
- Average Days on the Market: Active: 248 Sold: 872
- Average Sale Price/List Price: 94%
- Expired Listings: 2
Trends I’m Seeing
- Congrats to the Port Edwards home owner. On the market for 2.5 years…
- The number of homes sold is way down from a couple months ago. But remember my last market report coincided with the last month of the First-time home buyers tax credit causing an increase in the number of homes sold.
- Homes for sale in our area have been for sale an average of almost 7 months. Which means…
- I feel agents need to re-prioritize pricing a home at a number that can be backed up by data.
What next?
As always, my goal is provide not only valuable but also useful information that you can put into action. If you like what you’re reading and want a little help remembering to come back, why not click here and have all upcoming posts sent directly to your email inbox? You can read a description on how this works here if your unfamiliar with the process. I promise it’s not scary, nor will your email be given to anyone.
For More Info:
- Thinking about selling? Quickly see what your home’s worth in our market.
- Have you thought about getting in contact? Why Not? Click here to get in touch with Adam. I’m a peach… Really…
…or how long it will take to sell all the homes currently for sale in Wisconsin Rapids…
I don’t like to make predictions. At some point in every listing presentation, usually after we start to discuss a listing price, a home owner will ask how long it will take to sell their home. And that’s an answer I really don’t have.
I could guess. But I always feel conflicted because in the end, the buyer will control how long the home is for sale.
I know what you’re thinking… I bet it’s something along the line of: Really?!?! The buyer has the last say in how long a home is for sale… I know, I know.
How about if I take out ‘buyer’ and insert ‘market’:
The market controls how long a home is for sale.
Does that make more sense?
But if I had to give you one piece of data to help answer your “how long” question, it would be the Absorption Rate. Remember, data never lies…
What exactly is the Absorption Rate?
The absorption rate is the calculation of how long it will take for all homes on the market in Wisconsin Rapids to be sold, or absorbed, at the current rate of sales.
Below you will find the activity for Wisconsin Rapids during the past 9 quarters:
As you can see the number of homes sold in the second half of 2009 was considerably higher than 2008.
You can guess why, right? (Hint: it was some type of tax credit)
And remember, the First-Time Home Buyer Credit has been extended AND they’ve also added a new tax credit for home owners who’ve lived in their home for at least 5 years. So if I had to predict (ignore, for a second, that I said I dislike predictions 
) I’d bet money that more homes will be sold during the first quarter of 2010 compared to 2009 as well.
Months of Inventory
Realtors generally agree that 6 months of inventory is the magic number. Below 6 months of inventory you have a sellers market. Anything above you have a buyers market. As you can see its been a buyers market for awhile.
But, as more and more buyers hit the market, the the number has been pushing itself back towards the magical 6 months of inventory. And when the number is close to six everyone wins. Why? Because a seller knows they should be able to sell in a reasonable amount of time and a buyer knows they still have choices and time to find the right home.
Personally, I know the market is active. In the past month I’ll have added 3 new listings. In the past two days I’ve fielded calls from three different prospective buyers.
And I know I can tell them all that it’s a good time to be buying or selling a Wisconsin Rapids home…
Well, hi there! Thanks for checking out my website—hope you find things here at “The School” helpful…
I will admit that sending out mailings to 400+ strangers is a bit nerve-wracking, especially when I realized that not only was I mailing to strangers, but I was sending a personal bit of writing to people I knew in high school or friends of friends.
So, before continuing, I’d like to say hi to all the people I’ve known through the years… And if anyone wants to say hi to me, you can go here.
Back to my story–
As I was working to finish the mailing I kept thinking– “What if they think my Hannah Montana analogy is lame?” “What if they don’t even read it?”
Yes, these are the thoughts that reverberate when folding and stuffing hundreds of pieces of paper. My wife and daughters helped with the editing, the stuffing and, of course, gave me prime fodder for the mailing you read. I’m glad my take on real estate spoke to you in a way that convinced you to check me out even further.
There are lots of posts here—as of 1/12/10, nearly 160 pages worth! I’m the only Wisconsin Rapids real estate agent actively writing, interacting, informing and sharing information with great people like you.
As you know, nationally, real estate has taken a huge hit in the past 3 years. Luckily, Wisconsin Rapids hasn’t been hit as hard as other states, or even other cities in Wisconsin. I started The School as a way to help educate buyers and sellers so they can make an informed decision on the best time to enter the market.
And you’re here because something in your brain is telling you now *might* be your time…
Following is a sampling of many of the topics discussed here in the past year and a half:
Without sellers we can have no buyers…
And without buyers we can have no sellers…
I’ve also talked about a Flying Spaghetti Monster, elk sightings, and for good measure, birds pooping on my car… Oh, and I was even part of this article written for Wisconsin Realtors.
Before 2 years ago I never fashioned myself a writer, I guess even today, I’m not really a writer… But I love what I do and I love creating these articles for you to read.
I hope your day is better for coming here…
What next?
- Are you thinking there’s a better home for you? Email me at holberga [a] firstweber[dot]com or give me a call at 715.572.8372.
- Do you like what you’ve read? Sign up to have all new articles delivered to your email inbox.
Did I miss anything? Something else you’d like to know? Seriously, get in touch.
Every year Chris Brogan starts the year off by brainstorming 3 words that he’ll use to guide everything he does in the upcoming year.
For example, one of his words from 2009 was ‘Armies.’ As in, he wanted to equip people with the knowledge to spread and do what he does. If he can teach more effectively he can then equip more people to help execute his vision.
So he goes out and increases his blog subscriber count from around 5,000 to almost 40,000 in less than a year. That means everytime he posts a new article to his blog 8 times the number of people in 2010 will instantly see it… And read it… And think about it… And either on purpose or on accident will spread his thoughts to others…
Then his book, Trust Agents
, makes its way to the New York Times bestseller list. How does this book, from this person, become a bestseller? Because he’s delivered, over and over again, on everything Social Media (his expertise).
His armies want to hear more, to learn more… And his army grows…
Note: my 3 words for 2010 will be forthcoming shortly
Now let’s transfer Chris’ use of 3 words as personal goals, and shift them to the topic we discuss here at The School, REAL ESTATE.
Every home is different and unique. You purchased your home for a reason. Can you remember what those reasons were?
Was it the fireplace in the family room? Or did the master bathroom WOW you as soon as you saw it? Maybe it was because you’d be able to walk to Lake Wazeecha. Or because it’s the few acres (or more) where you could have the garden you’ve always wanted, or where your children would have more room than they’d know what to do with…
Anyway you look at it your home had attributes… The reasons it became YOUR home.
Your test is to think about them now. Long pause…
Do you have those 3 words?
How long ago did you you purchase your home?
Do those words still hold true? What’s changed?
We’re heading into an extremely unique year in real estate. Mortgage rates continue to remain low. Plus there are two separate tax credits being offered at the same time. The First Time Home Buyer credit was extended and a credit for owners who sell after having lived in their home for 5 out of the past 8 years was created. The economy is better. People are better. Buyers are out there.
My point is that all signs are pointing to a more productive first half of 2010 and if you’ve been on the fence about purchasing a new home because your current home isn’t quite right anymore, now may be your opportunity to make that leap.
I can be reached by email at holberga [at] firstweber [dot] com or by phone at 715.572.8372 if you’d like to schedule a time to sit and have a conversation. To help you figure out what’s in your best interest. To see if now is the right time for you.
Photo Credit
PHONE: (715) 572-8372
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.