Mortgage rates are staying historically low and are bouncing around 6.25%. MLS Waukesha County sales in 2008 continue to decline down 20.3% vs 2007 and 25.9% vs 2006. September's numbers of -0.6% vs. 2007 however were much better indicating a potential bottom. New listings continue to drop as well, down 12.9% vs 2007. As new listings go down the market becomes more in balance with the number of buyers in the market and helping prices to stablize and start appriciating again.
Contributing to the downward slide are new tighter credit standards and ending of the FHA gift programs. There is a new incentive however for buyers in the "Housing and Economic Recovery Act of 2008". A First Time Homebuyer Tax Credit is now available. The tax credit is equal to 10% of the purchase price of your home up to $7,500. But this special tax break ends in mid 2009. For more information on this program, go to my website and give me a call.
Contributing to the downward slide are new tighter credit standards and ending of the FHA gift programs. There is a new incentive for buyers in the Housing and Economic Recovery Act of 2008. A First Time Homebuyer Tax Credit is now available. The tax credit is equal to 10% of the purchase price of your home up to $7,500. But this special tax break ends in mid 2009. For more information on this program, go to my website and give me a call.
So far in 2008 Brookfield has had a median sale price of $265,000 compared to $286,000 in 2007. As of October 29th, there are 277 active single family listings ranging from a low of $137,750 to a high of $2,495,000 which have an average days on market of 98. There have been 285 properties sold during this time with an average days on market of 79 compared to the previous years 376 homes sold with an average days on market of 78. There have also been 226 expired listings year to date with an average days on market of 148.
With interest rates still around 6.25% and an abundance of inventory; it's a great time to buy and an even better time to upgrade!
If you would like to see what's going on in your neighborhood, go to my website and request a free market snapshot. This monthly report will show you actual selling prices, days on market, price trends and much more.
If you're considering a move and would like to see listings of properties as they come on the market which match your search request, give me a call at 262-641-0900.
Your time is valuable. I'm here to help!
ZIP Codes: 53005, 53008, 53045 Location Characteristics: Brookfield is a fast growing city with a "City in the Countryside" feel. Brookfield has a population of 39,797 (2005 Estimate), covers 36.8 square miles, containing 24 parks and over 1,000 acres of open space consisting of wetlands, woodlands. For more information on the City of Brookfield, check out their website at: www.cityofbrookfield.com
About Mark Dallmann:
As a full time agent partnering with Shorewest, I strive to offer the level of service that has become so hard to find these days.
My purpose as your agent is to give you as many options as possible; to listen to your needs and represent your interests with absolute confidence. Every agent runs their business differently, but I do my best to have the answers and services to help make your move as effortless as possible.
Stop by my website where you can search the MLS database or request to have new listings sent to you within hours of their going public. Wondering what your house may sell for in today’s market. Would you like to see a market snapshot of what is going on in your neighborhood? All this and so much more is just a click away.
Your time is valuable. Let me help!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
