Homes more affordable in 2011 than ever.

New stats provided by the Keller Williams funded research at Baylor University indicates that home ownership afford ability has never been better.  

In 2011 is takes just 13% of the average salary to purchase a median priced home with a comparable down payment.  The graph below shows the trend over the most recent years. 

A mix of price, good supply and interest rates add to this equation.   But it may not last long.  Experts predict interest rates will go up to 6% by the end of 2012.

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RealEstateGuy has been a full time, full service Realtor since 1993. He is dedicated to helping people achieve their Real Estate Goals and dreams.  In order to provide more specialized service, Guy selected a team of specialists. Guy believes in constantly learning more, so regularly attends national seminars and trainings. Guy has been a top producer, leader in his office, a president of the Wisconsin chapter of CRS, and has spoken at State Realtor Conventions. 

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Early Wisconsin Home Sale Statistics, Madison home sales lag state

Here are the figures for Wisconsin and South Central Wisconsin which includes Madison and Dane County.  (Source WRA)

Wisconsin, Median Price:   Feb 2011    $117K       2010  $135K        -13.3%     

South Central (incl Madison)                $124 .9K             $145K        -17.2%

Over a year, Feb to Feb,  Home sale prices fell 17% in SCW, even more than the Wisconsin average.    

Home sales were down 5.5% in Wisconsin,   But down 13.2% in Madison’s SCW region.

These declines are amongst the highest home sale statistics in the State in most part because the rest of the state has seen greater declines in previous years and Madison is just catching up.  There is also the fact that the area may have been more inflated in the first place. 

Either way, with low interest rates, it is still a very affordable time to make an investment in a home.   Afford-ability of homes has never been better (see graph)

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RealEstateGuy has been a full time, full service Realtor since 1993. He is dedicated to helping people achieve their Real Estate Goals and dreams.  In order to provide more specialized service, Guy selected a team of specialists. Guy believes in constantly learning more, so regularly attends national seminars and trainings. Guy has been a top producer, leader in his office, a president of the Wisconsin chapter of CRS, and has spoken at State Realtor Conventions. 

Get a chuckle. Watch Real  Estate Guy video. 30 seconds Search all area homes for sale Madison Wi  RealEstateGuy.  Madison Wisconsin 

Market update, Madison Wi

Madison Wisconsin, Market Report

The figures are for sales of single family homes in Madison in quarters, homes priced between $100,000 and $500,000

2006 2007
Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar
East
Homes Sold 299 377 267 191 218
Days on Mkt 72 58 65 81 90
List Price$K 202 207 212 208 199
Sold Price$K 199 204 207 202 193

West
Homes Sold 429 541 288 275 267
Days on Mkt 68 50 59 84 82
List Price$k 272 276 279 268 271
Sold Price$k 267 271 270 260 264



Notice how number of home sales are down, days on Market are up, so homes are taking longer. Average prices are down too. With an exception that West stats improved in early 2007. One thing, these stats can not give us a trend for this year. Even the latest figures include 4 month old data. What is the trend for this year?

At the time of writing, I have a very rosy view of things. Real Estate Guy Team has just come off the busiest time ever. Bev, our buyer agent is working overtime, as usual. Jen is settling in to her role as Head assistant, very busy on 40 hours, and Guy is also very busy. The team put together 12 sales in April alone. We are finding well priced listings are selling.

We are receiving great feedback from our photos and internet marketing. Just tonight, after receiving an accepted offer in Cottage Grove, the seller said. "You have been wonderful. Your internet marketing has produced more activity in just 2 weeks than the last 2 Realtors"

Jim, said last week after I bought him 3 offers on the same home. "You have exceeded my expectations. I will have no hesitation to refer you to my friends"

As Jen has discovered what we do to market our listings, Jen has regularly exclaimed, "My Realtor never did this"

Another sign that things are getting busy are the number of multiple offers occurring. Also the inspectors are getting booked up further out. So things are good. If you need to sell, call us and we will get you moving. www.realestateguy.net