Metro MLS shows that new listings in the Milwaukee region increased 10.3% in May, a welcome relief after the shortage of listings slowed the buying process for the first months of 2013. Inventory levels, however, are still 12.4% lower than May 2012. The market is still very competitive, where in some markets, buyers are writing offers directly after a showing. Inventory levels dropped the least year-over-year down 6.1% in the $350,000 and above market. The highest gap can be found in the $100,000 and below market, with a drop of 23% from May 2012 to May 2013. WRA noted that new listings for sale increased 16.4% in May throughout the state compared to May 2012.
Despite the competitive market, closed sales and median prices rose both in metro-Milwaukee and throughout the state. According to the WRA, May home sales increased 18.2% over last May, which is now the 23rd straight month of positive sales growth in the state. In metro-Milwaukee, sales were up 13.2% during the same time frame. Renny Diedrich, chairman of the WRA board of directors says, “These are very positive signals and represent an uptick from the pace of sales established in the first four months of the year. There’s no doubt consumer demand has been strong over the last couple of years, but now we’re also seeing sellers jump back in the market as well.”
Metro-Milwaukee and Wisconsin also saw median sales prices increase during May 2013 compared to May 2012. In metro-Milwaukee, median sales prices jumped 7.4% to $175,000. Statewide, median prices grew 4.3% to a median of $144,000.
Joe Horning, President of Shorewest, REALTORS®, commented, “At Shorewest, we’re excited about the growth we continue to see in the housing market. Our offices are setting all-time sales records, and our agents are very busy helping families achieve their home buying and selling dreams.” From January-May of 2013, Shorewest closed business on 17% more homes compared with the same time period in 2012. “We look forward to the continued success of our offices and agents throughout the summer buying season,” said Horning.
A Shorewest agent is an essential resource to finding the home that is right for you. If you’re looking to buy or sell, don’t hesitate to contact a Shorewest agent today.
Canada Mortgage and Housing Corp. recently teamed with Habitat for Humanity to study the impact of homeownership on families. The 2012 study asked 2,200 families who moved into a Habitat home in the past year how their lives have changed.
The results of the study are staggering: 89% of families said their lives have improved and 86% said they are happier. Of the 2,200 families, 80% had school-age children. Additionally, the children had increased confidence, improved behavior, higher grades and increased enjoyment of school since moving into the home. They also participated in more extra-curricular activities such as sports, music, arts and volunteering.
Most of the families were previously in rental housing, and more than three-quarters of those surveyed said their health had improved. Fewer illnesses, fewer doctor’s visits and fewer missed days at work due to illness all contributed to a happier lifestyle. Based on the inspections that houses must go through when buyers are looking, many of these improvements are due to moving into safer, healthier homes. Shorewest recently detailed that buying is actually a better financial deal than renting, another incentive to transition now from renting to owning.
The housing market has continued to grow over the past few years, and its strength is a testament to consumer desire for and satisfaction with homeownership. With 89% of family lives improving after moving into a home, it’s hard to argue with the numbers! If you’re thinking about buying or selling, please consider working with Shorewest, REALTORS®, Wisconsin’s #1 Top Workplace. With our innovative website, the new ShorewestTV On Demand and a stronger market share in southeastern Wisconsin than other real estate companies, it’s no surprise that Shorewest is Wisconsin’s Largest Home Seller™. Buy or sell with a Shorewest agent today to move toward a happier and healthier lifestyle!
This year, Shorewest, REALTORS® is participating in the Milwaukee Business Journal’s Social Madness 2013. It’s a one-of-a-kind competition that measures our social media engagement. It is a local and national challenge that spotlights the best in social media throughout 43 cities. We can compete on four networks — Facebook, Twitter, Linked and Google+. There are three size categories — small, medium and large — and companies are placed in a category based on their collective social following prior to the contest starting. We are in the medium company category in Milwaukee, where we are competing against 14 other companies.
Whether you’re a serious home shopper or HGTV fanatic, ShorewestTV On Demand is the new site for you! If you’re new to ShorewestTV, it’s an innovative service that Shorewest debuted in 2005. We were the only company to have a 24/7 television channel dedicated to showing every Shorewest property for sale. With technology evolving, ShorewestTV has now become ShorewestTV On Demand, an internet-based version of our popular television channel. Always available at www.shorewest.tv, the site features video home tours, now searchable by location, property type and price range. To view an example of our video home tours, check out the video below!
If you’re a first-time user of ShorewestTV On Demand, be sure to check out our blog post detailing all of the new features. No matter if you’re actively shopping for a home or just looking to dream, ShorewestTV On Demand is a great place to see all of our Shorewest properties. Join us online at www.shorewest.tv to see what the fuss is about and be sure to read Inman News‘s exclusive article on the new site here.
The housing market has truly rebounded in the past few years, with more families looking to buy and sell their homes than we’ve seen in many years. At Shorewest, REALTORS®, we’re seeing record growth and sales this year and are excited to celebrate the successes of our offices.
Shorewest’s Lake Country and Watertown Offices both broke overall sales records in May.
The Lake Country Office, located at 1296 Summit Avenue in Oconomowoc, broke their record by booking $40,194,950 in sales during May. This was more than any other month in the office’s history.
The Watertown Office, located at 1536 S. Church Street in Watertown, sold a record 45 properties during one month, as well as booking an office-high sales amount of $7,490,600. This was more than any other month in the office’s history.
“That’s a huge indicator of the real estate market’s growth,” says Mack McPherson, sales director at the Watertown Office. “Our agents are busy and excited to be helping people buy and sell homes.”
Dan Ludwig, sales director of the Lake Country Office, says, “We’re excited about the continued success in our office. The robust growth in the real estate market has kept our sales associates busy keeping Shorewest as Wisconsin’s Largest Home Seller™ .”
If you’d like to buy or sell a home, contact Shorewest, Realtors® Lake Country Office at 262-567-8351 or the Watertown Office at 920-261-3758. You can also visit any office by going to Shorewest.com.
Shorewest, Realtors® is Wisconsin’s Largest Home Seller, a position it’s held since 1951. Shorewest currently controls more than 27% of the metro-Milwaukee real estate market, according to Metro Milwaukee MLS.
ShorewestTV is moving to a computer screen near you! We’re excited to bring you the new ShorewestTV On Demand at www.shorewest.tv. Continue to read below for our full explanation or watch our short introductory video here.
What is ShorewestTV On Demand? It’s an online video streaming service available 24/7 to anyone with an internet connection. Updated daily, it features every Shorewest property for sale with a narrated video tour of the property. ShorewestTV On Demand is easy to use, and you can jump forward or backward to look at any property more than once.
Using the homepage of ShorewestTV On Demand, you can create a custom search by property type, location and price range. Using the drop down menus, you can access pre-defined choices for area and price.
All of our drop-down menus automatically update to show only applicable choices based on other selections. Simply click the red “Search” button and a customized program of Shorewest properties for sale generates for you.
A playlist of Shorewest properties for sale that match your search starts with just one click. You can use the on-screen controls to pause or rewind a particular property. If you see a property coming up that you’d like to jump to, simply click on the property to jump ahead in the program.
On-screen controls allow you to easily click through to the property information page on shorewest.com for more information and photos. You’ll also be able to access other easy-to-use Shorewest features through the icons at the bottom of the screen. From additional searches to mortgages and insurance information, anything you need is just one click away.
Plus, you can use the closed captioning to read along with the audio, and have additional controls to pause, rewind and fast forward. The new ShorewestTV On Demand is everything you loved about ShorewestTV with so much more, making it a great custom experience. Check out ShorewestTV On Demand now at www.shorewest.tv and start your home search today!
Downtown Dining week 2013 is back! The eighth annual celebration showcases over 40 Milwaukee restaurants offering three-course meals — $10 lunches and $20 or $30 dinners.
Milwaukee Downtown runs the event each year, and it started as a way to market downtown restaurants. The popularity of the event over the past years has ensured its continued success. At some restaurants, it can be hard to get a table without a reservation, even at lunchtime. Beth Weirick, executive director says out-of-towners even plan their trips to Milwaukee around the eight-day dining fest. One surprising fact — restaurants must be invited to participate and all meals offered must meet minimum price values.
Our Downtown Office agents had great things to say about Downtown Dining week:
“Downtown Dining is one of my favorite weeks of the year.”
“As a downtown condo owner, I try my best to support many of the local shops and restaurants.”
“My wife and I can’t wait to check out our old favorites.”
Some restaurants our Shorewest agents plan on visiting are The Knick, Smoke Shack, Trinity, Carnevor, Jackson’s Blue Ribbon Pub and Zarletti.
Notably returning to the list of participating restaurants are John Hawks Pub and Ward’s House of Prime, both owned by Brian Ward. Newcommers are Jackson’s Blue Ribbon Pub, Kanpai, Karma, Lucille’s Piano Bar & Grill, The Safe House, Turner Hall Restaurant and Upper 90.
Be sure to check out all of the lunch and dinner menus at the Downtown Dining Week website. Remember, these restaurants are offering meals at a discounted rate, so be sure to appropriately tip any of your servers this week!
Schools are coming to a close, vacations are being planned, and we’ve had a taste of summer weather in Wisconsin. Use these seven great tips to freshen up your home for the summer season.
Swap out seasonal dishes and decorations. An easy way to breathe new life into your home’s look is by swapping out seasonal decor for summer selections. White dishes along with clean, summer materials such as linen will make your home feel bright and airy.
Create a memory box or scrapbook from the school year. With end-of-the-year cleaning going on at school, you’re likely to get an influx of photos, artwork and other projects from your child’s teacher. Take this time to store most away for the future and put a few, special items on display for guests to admire.
Manage your home’s exterior. If you’ve been thinking about having your house painted, the nice June weather should be perfect to schedule it. Also, clean the gutters of any debris that has fallen during the spring flowering season so they can easily handle any rain you may get during the summer. Our Home Services Center can assist you in finding a quality vendor for all of your home repair needs.
Outfit your guest room. Summer means it’s time for vacation, so you may have family or friends visiting. Give your guest room some extra love by providing comforts of home for them. Spend a night in the guest room yourself to see what the room may be missing.
Gather your summer gear. Be sure all of your equipment is ready to go — whether that means your beach umbrella, camping tent, sporting equipment or inner tube. Replace anything before it’s too late!
Prep the pool. If you have a pool, be sure to set up a cleaning and maintenance schedule for the season.
Set up your patio or deck. A great chance to enjoy the warm weather all season long, set up your patio furniture. Make sure to clean off any cushions and think about replacing any old or damaged furniture. Enjoy meals, reading outdoors or just the opportunity for a breath of fresh air all season long.
Summer is a season many of us look forward to all year long, especially after the snowy Wisconsin winter. Be sure to enjoy the best the season has to offer by setting up your home now!
All of our Shorewest Luxury Portfolio properties are marketed to highlight their exquisite features. To showcase the beauty of these homes, Shorewest features a Pinterest board titled Our Luxury Listings, where you can view all of our luxury homes in one place. Check out a sneak peak below at five of the homes we’ve recently featured, and be sure to follow us on Pinterest to keep up with all of our great tips and advice, Wisconsin attractions and other Pinterest boards we dream up.
According to Trulia, it is 44% cheaper to buy versus rent, and homeownership is less expensive than renting in all of America’s 100 largest metropolitan areas. Why? Affordable mortgage rates have kept buying an attractive option for would-be renters in the market. Unfortunately the opportunity won’t be here forever, and Trulia’s chief economist Jeff Kolko said, “Although buying a home is still cheaper than renting, the gap is closing.” By the end of 2013, home prices should rise faster than rents, and mortgage rates are likely to rise also.
The Census Bureau recently reported that annual household formations are almost back to housing boom levels. Household formations include when a new renter or buyer comes into the marketplace for the first time. During the housing boom, there were 1,250,000 annual formations, but from 2008-2011, there were only 650,000 annual formations, a 48% decrease. Freddie Mac is projecting 1,250,000 new household formations in 2013, and although these figures include both renting and buying, Generation Y believes strongly in home ownership.
Millennials, though previously typecast as a group who would never buy, are making strides toward homeownership as well. In fact, 93% of young adults age 18-34 who currently rent plan to buy a home, and 65% indicate that their intention to buy has significantly or somewhat increased in the past year. The two top reasons to buy are desire to own/build equity and tired of apartment living. These homebuyers will join the marketplace and become additional competition to homeowners already thinking about buying.
If you feel like you missed the chance to buy at the bottom of the market, the opportunity is not completely lost. For current renters who are thinking of signing a lease, contact an agent today to see how affordable buying a home can be.
Both Metro-Milwaukee’s Multiple Listing Service (MLS) and the Wisconsin REALTORS® Association (WRA) recently released their monthly sales reports for 2013.
