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What's NEW! (Updated July 2015)
We Now Offer PROFESSIONAL HOME STAGING
Total Realty LLC is proud to offer professional staging on all of our full service listings beginning July of 2015. As part of our full service listing CnJ Homes will conduct a 2 hour consultation and go through your home room by room giving suggestions and tips on how to maximize space and your homes potential. Recommendations are simple and inexpensive and are meant to attract more potential buyers. You can find out more about CnJ Homes, Cindy Schickert and Joel Gollhardt, under the "Staging with CnJ" tab.
Home Sales Return to Pre-Recession Levels as Median Prices Continue to Grow
The Wisconsin housing market continued to expand in May according to the most recent analysis of home sales released by the Wisconsin REALTORS® Association (WRA). Statewide existing home sales increased 7.8 percent between May 2014 and May 2015. This is the strongest five month start to the year since 2007 before the Great Recession began and it is the strongest sales for the month of May since 2006. The solid sales have also continued to fuel prices. Median prices increased 6.7 percent to $160,000 over the same period.
“This is an impressive market with May sales the strongest in 9 years,” said Dan Kruse, the Chairman of the WRA Board of Directors. He noted that sales in every region of the state were in positive territory in May as well as on a year-to-date basis. The North region was up by the largest margin, growing 16.1 percent in May 2015 relative to May 2014. Also increasing by double-digits over that period was the Central region, which grew 11.5 percent. “The solid growth in both the Central and North regions suggests a very healthy second home market,” said Kruse. The South Central, Southeast and West regions all increased between 7.8 percent and 8.4 percent over the period, whereas the Northeast region increased by a modest 1.6 percent. Even though the Northeast region grew by the smallest margin in May, it’s still the strongest May growth seen in that region since before the recession.
The robustness of this market is also seen in the sustained pattern of price growth, now in its fourth year. Median prices grew well above the rate of inflation in May, with the median price up 6.7 percent to $160,000. Comparing May 2015 with May 2011, prices have grown at a compounded rate of 4.1 percent which is 3.1 times the comparable inflation rate over that same period. Inflation derived from the Consumer Price Index between May 2011 and May 2015 averaged 1.3 percent per year. “While we usually don’t like to see housing appreciating at three times the rate of inflation, it’s important to remember that we’ve been in a very low inflationary period since the recession,” said WRA President and CEO, Michael Theo. In contrast, the inflation rate over the past 30 years has averaged 2.6 percent. “Home price growth in the 4 percent range is sustainable when compared to longer term trends in inflation,” he said.
Housing affordability remains high in the state. The Wisconsin Housing Affordability Index shows the percent of the median priced home that a buyer with median family income can afford to buy with 20 percent down and the remainder financed at current market rates on a 30 year fixed mortgage. The index stood at 226 in May, which is virtually unchanged from May of last year. Although median prices are up, this is offset somewhat by modest improvements in median family income, and mortgage rates which were 3.84 percent in May, about a third of a percent lower than this time last year.
“Our housing is affordable, there is ample supply, and long term it’s a great way to accumulate household wealth,” said Theo. Statewide, there are 9 months of available inventory, although metropolitan counties have just 6.9 months compared to the 14.4 months of available supply in non-metropolitan counties. “Our statewide inventory is in good shape but it’s been shrinking for some time which has put upward pressure on prices,” he said. He noted that once the Fed starts raising short term rates, this will likely lead to higher mortgage rates. “Summer is always the preferred season to make a move, but given tightening inventories and an impending Fed rate increase, this is an ideal time to buy from an investment perspective,” said Theo. Using an experienced REALTOR® is still the best way to identify the best value in this tightening market.
If you are thinking of Buying give us a call anytime at 414-333-3723 (Troy) or 262-208-8520 (Mike) to talk about your real estate needs. If you are thinking of Selling please contact us for a FREE market analysis of your home.
3430 N. 88th St, Milwaukee WI. Open concept Cape Cod near Kops Park. 2 bedroom, 1 bathroom, covered parking for 3 (garage plus side slab). $129,900.
7812 W. Green Tree Rd, Milwaukee WI. Low maintenance ranch w/ large fenced yard. 3 bedroom, 1.5 bathrooms, 2.5 car garage. $109,900.
3151 S. 37th St, Milwaukee WI. All brick, nicely updated cape cod near Alverno. 3 bedroom, 1 bath, 1.5 car garage. $129,900.
Please visit our 'Featured Listings' section for more information on these great homes or simply click HERE to view exclusive TOTAL REALTY listings.
Welcome to TOTAL REALTY LLC. Whether you are buying or selling we are here to serve all of your real estate needs. TOTAL REALTY has been serving southeast Wisconsin since 1976.You will find our site easy to use as it was designed with Buyers and Sellers in mind. See how easy it is to search for homes that are currently listed in Southeast WI or just sit back and allow us to do the work for you and watch how easy and quickly the information is sent to you!
CLICK HERE TO PUT OUR BUYER PROGRAM TO WORK FOR YOU! Our site offers many ways to find your dream home. Check out our Property Search option and select all the different areas that you may want to live in. Search by area, municipality, zip code, county, etc. It's that easy!
We welcome the opportunity to put our Buyer Program to work for you. This is a proven no-cost program that helps you locate and purchase your new home. Simply let us know what you are looking for in your new home and we will set you up on an automated search so you have access to new listings immediately!
If there is a property you would like to tour please let us know when you are available and we can show you ANY and ALL listed properties in Southeast WI. We are also experienced and willing to work with 'for sale by owner' properties if your future dream home is not listed in MLS. As a Buyer's agent we will represent YOU in the purchase, not the seller and make sure that YOUR needs and interests are met.
We offer you FULL SERVICE at a reasonable commission and will help get your home in front of more potential Buyers. Go to our Commission Schedule page to see how much we will save you compared to other full service real estate companies. We also offer limited service listings for clients who want the full exposure that MLS and the internet brings but choose to be more actively involved in the home selling process. Please go to FLAT FEE MLS for additional information.