6 Key Takeaways From the WRA’s June 2019 Home Sales Report

Historically, summer is the peak real estate season in Wisconsin. Although there were less WI home sales in June, median home prices increased significantly compared to the respective month last year. Here are some quick stats from the June 2019 Wisconsin REALTORS® Association’s Home Sales Report.   If you’re thinking about selling, now is an ideal time. Find out how much your home could sell for by requesting a complimentary comparative home market analysis.

Add value to your home by making these upgrades

When choosing what home improvements to complete, it is important to consider what upgrades will increase your home’s value and have the highest ROI when it comes time to sell. Here are 7 recommendations to make a better decision on where to spend your money. Finish your basement. A great way to add value to your home is to increase the amount of living space. A finished basement helps homes feel more spacious and can be used for a variety of purposes. Refinishing your basement will make your home more appealing to future home buyers that may need space for… Read More

May 2019 Home Sales Report

Statewide, the median home sales price in May increased over 9% compared to the respective month last year, according to the most recent analysis of the existing home market by the Wisconsin REALTORS® Association. Comparing the same two months, the number of home sales increased just over 3%. Price appreciation for homes has been well above the rate of inflation due to low inventory of homes for sale and demand pressure continuing to build. Affordability has declined but would have much more if mortgage rates did not also drop about a half percent over the last twelve months according to WRA… Read More

Advantages of buying a home versus renting

Home ownership may be more affordable and rewarding than you think! There are many advantages to buying a home and can be a better financial decision in the long run compared to renting. Here are some common advantages when you buy a home. Build equity and credit. When you buy a home, a primary financial benefit is that you are able to build equity and your credit. You can build equity in two ways: when the property value increases and when the amount of debt you owe on your home decreases. Besides home improvements and routine maintenance, property values can… Read More

13 Kid-friendly things to do this summer in the Lake Country Area.

Oconomowoc and the Lake Country Area is a great place to be during summer. Here is a list of kid friendly activities and community events taking place throughout the summer season. Please make sure to visit the corresponding business or organizations’ websites that are hosting an event to confirm and view event details.   Visit Dirty Kettle at Concord General Store.  Dirty Kettle, a fur-trading, mountain man will be at Concord General Store 4 weekends this summer to showcase the ways and traditions of the Plains Indians and Mountain Men of the 1800’s. Visit his 16’ teepee and other items to transport… Read More

Home Sales Decline and Prices Grow as April Inventories Remain Tight

The low inventory of homes for sale continued to suppress the number of home sales and put upward pressure on home prices across Wisconsin. Comparing the number of home sales in April to the respective month last year, home sales were down nearly 10% statewide according to the Wisconsin REALTORS® Association’s most recent home sales report. In Waukesha County, home sales for the first four months of the year slightly trailed behind the number of sales during the same period last year but median home sale prices increased over 6%. There were more new listings this April, but the total number of… Read More

Is condo living right for you?

Buying a condominium may be a great alternative as opposed to purchasing a home. Maybe you’re retired and wish to travel more; maybe you want to finally buy your own place to break free of renting. Whatever the reason, you should first consider what condo living entails to determine if it’s the best route for you. Here are some common benefits and drawbacks of condo living: BENEFITS: Less maintenance. A major perk of condo living is that most of the chores are done for you such as mowing the lawn, snowplowing, and exterior repairs. This means you can have more… Read More

First Quarter Home Prices Heat Up as Sales Cool Off

For the first quarter of 2019, the number of home sales in Wisconsin were behind over 7% relative to last year’s first quarter, according to the most recent home sales report from the Wisconsin REALTORS® Association (WRA). Over the same time period, the quarterly median price increased 5.5%. Lack of inventory was the major contributing factor for sales to cool off and home prices to heat up, especially in urban localities. Homes have appreciated considerably over the past seven years. To put it in perspective, Wisconsin’s median home sales price in March 2019 ($185,000) was over 50% higher than in March… Read More

6 Design Tips for Your Outdoor Living Spaces

A great way to expand your living area is to create outdoor living spaces. Regardless if you have a huge yard or a small patio, these design tips can help you create an outdoor space that you will want to relax or entertain in. Choose neutral colored furniture. Make your furniture more versatile by choosing neutral shades. This will allow you to change up your décor easily. For a layered look, select decorative items in bold colors and similar shades.   Use double duty furnishings. Using multi-purpose furniture can help you save space and money. Furniture such as benches that… Read More

Tips for Homebuyers to Win a Bidding War in a Hot Housing Market

If you’re ready to find homes for sale in Oconomowoc or the Lake Country area, raise your chances of getting the home that you really want by following these tips. It has been a competitive housing market for homes in the Oconomowoc Area priced below $350,000 due to low inventory. These tips can help you win a bidding war on a great home in a hot housing market.   Get pre-approved for a loan and obtain a pre-approval letter. Once you are pre-approved for a loan, request a pre-approval letter from your lender. This letter can accompany your offer to… Read More