Wisconsin Rapids Real Estate – Wisconsin Rapids Homes For Sale

This is the best advice I’ve heard in awhile:

“Update your home every 5 years.”

I hear ya’–

“It’s expensive.”But if your refrigerator is 15 years old, now might be a good time. Or in my case, a hot water heater that rusted out while we were at my in-laws Labor Day weekend… Thank god for insurance, but we still had the deductible to worry about.

“It’s annoying.” Yes, moving furniture, toys, lamps and clothes out of a bedroom is a process I’ll never look forward to either. We’ve redone all 3 bedrooms in my home the past 1+ years. But it’s now over.

“It’s time consuming.” If installing laminate floors only took as long as a 30 minute television show on HGTV… I have to thank my parents for their help the 2 different times I’ve done it… But they were all-day projects, and the first was an entire weekend.

But here’s the good thing: Everything we’ve done would have needed to be done when we sell our home in the next 2 years. Purple paint. Stained off-white carpet. A green refrigerator. None of it could have stayed. Or, shouldn’t have stayed.

Everything that buyers in today’s market are not interested in.

By slowly, meticulously updating my home I’m saving myself from having to make NUMEROUS EXPENSIVE repairs in the near future.

Plus, by making these upgrades I’m also increasing my home’s value at the same time. And because they’ve been done early, I get to reap the benefits of adding a patio door and deck off my dining room when I’m grilling (OK, when my wife is grilling) in the summer.

And hopefully eliminating some stress when it comes time for the for sale sign to go in the ground too.

In the end by being proactive while I’m living here it will make it easier when the pull of a new home becomes too much.

A couple weeks ago I presented to you the absorption rates for homes listed in Wisconsin Rapids. I’d like to go one step further and discuss with you the number of homes that sold during each month in 2009.

The following chart includes all single-family homes and condos sold in the tri-city area.

Realtors talk about the ‘buying season’ and the ‘slow season’ in pretty much the same way you’d use ‘dry season’ and ‘wet season’ if you were talking about the African plains.

Each bringing their own set of problems and solutions. Summer *can* be the better time for sellers. More buyers means more opportunities to sell. Of course it also means more competition… Accurate pricing, a well-written listing description, and high-quality photographs generally do an excellent job tipping the scales in your favor though.

Winter means fewer buyers. And more time between meaningful showings and offers. But buyers that are out there are definitely serious. We’re now finishing the ‘slow season’ and heading quickly to the ‘buying season.’ Note: the average home that sells is on the market for 200+ days. That puts the average home that goes on the market today getting a sold sign in August, right in the middle of the ‘buying season.’

At least that’s what the chart and data are telling us.

As you can see January and February were the 2 slowest months. Which is expected. But we’re off to the races once the calendar gets flipped to March. Remember a home that sells in June received it’s accepted offer in May.

Yes October had the most sales, but what it’s really saying is that September had the most accepted offers.

Now the tax credits are quickly coming to an end. You have less than 3 months to get your home ready for sale, on the market, advertised, shown, receive an offer, negotiate and finally accept the offer. That’s a lot that has to happen. I’ve had numerous sellers contact me in the past month, 3 new listings plus one more in a couple weeks. There’s still time, but now is the time to be proactive.

…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…

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

Question: How much time, energy, research, and conversation will you put into choosing your Realtor?

Continue to ponder that answer as you continue reading…

First, I heart Seth Godin. You know Seth, the author of some really cool books like: Purple Cow, The Dip, Meatball Sundae, and Tribes. Click here the rest of his very cool and very thought provoking books.

Not only have I read all his books but I read Seth’s blog everyday as well. Why? I guess it boils down to his ‘perspective’ on all things.

Recently he wrote an article titled “The First Transaction.” His point being:

Why should a business expect a person who just walked into their store for the first time, or just found their website, or just met them at a Chamber of Commerce event to make a purchase that very moment?

What do you know about their business? About them? Do they create quality products? How do they treat you if it breaks and you need to return it? What are their current customers saying about them? Will they purchase from them again?

You’re not in the business of throwing your money away…

The digital world is making finding these answers easier and easier. Twitter, Facebook, Google search, blogs…

The internet makes it easy for us “to connect, transfer knowledge, engage in a way that builds trust” so that way one day you’ll “trust me enough to send some money my way.”

Or in my case, you’ll trust me enough to buy or sell your home with me.

Lets back-up to my original question: How much time, energy, research, and conversation will you put into choosing your Realtor?

First, if you’re selling your home, how much will you pay in commission fees to your Realtor?

If you’ve only just met, or you’ve only heard about your Realtor… Are you comfortable having your first transaction with this person being worth a few thousand dollars?

I bring this up because even if we’ve never met IRL (in real life) you’re able to know me by my 18+ months of writing about Wisconsin Rapids real estate here on this site. Or my 10 months writing on GoRapids.com. Or by following me on Twitter. Or Facebook. Or by Googling me.

By reading my articles you can see my ideas. You can know what’s important to me. You’ll know what to expect when we meet face to face.

I’m trying to make it easy for you to trust me… To make you feel comfortable…

How have I done?