As the weather turns colder, lower interest rates have rekindled sales for first-time buyers and move-up buyers in Shawano, Green Bay and Wausau, Wisconsin, say local Realtors.

"Shawano is located approximately 35 miles west of Green Bay, 40 miles north of Appleton, 55 miles east of Wausau and only 150 miles from Milwaukee," says Realtor Jerry Wendland. "Interest rates remain at record low levels, now would be the ideal time to contact your mortgage lender for pre-approval before the holidays. Many present homeowners are moving to bigger and better homes and allowing first-time home buyers a good choice of affordable housing. Average 30-year mortgages in the greater Shawano area as of the first week of December are under 6.00 percent. Thirty-year fixed rates are reported at 5.875 and the 15-year fixed is at 5.275.

"According to the Realtors Association of Northeast Wisconsin (RANW) Multiple Listing Service (MLS), there were a total of 121 single-family homes sold in Shawano through November 30, 2003. The lowest home sale was reported at $32,000 and the highest at $314,000. The average days on the market was 148 days and average price for homes during this reporting period was $88,970."

Green Bay

"Green Bay has a small town feel to a growing city that offers wonderful entertainment opportunities including professional football, touring theatrical and musical performances, several universities and charming people," says Realtor Mark Cherney. "Lower interest rates have rekindled an active real estate market. Sales should remain very strong until Christmas as long as rates stay low. Right now, one can get a 30-year fixed interest rate for under 5.75 percent and if you plan on living in the home for under 7 years, there is a wide selection of ARM and Balloon loans, some as low as 4 percent. Rates are drawing in many new buyers into the marketplace, therefore the present inventory of homes will deplete quickly and new listings will be needed. If you are thinking of making a move, now is an excellent time to sell plus get a great interest rate on your new purchase."

He adds, "Current inventory of new construction is a great buy right now. There is a good number of homes presently on the market at very good prices. Because land costs and material costs are rising so quickly, new-home prices will be rising significantly in the near future. The best buys are the ones that are already built and for sale."

Wausau

"The Wausau area is a smaller metro area with a small town feel and strong family values," say Realtors Roz and Karen Rozewicz. "Rates are starting to inch up a little, but not too bad. Word on the street with local bankers is that rates will drop again sometime in December. The active buyers must know this as things seem a little slower than they have been ... but this also is normal for this time of year. if we do have a year-end rush with a lowering of rates, now is the time to get listed."

They explain, "Currently there are only 610 active listings on the market in the greater Wausau MLS, this is low from a mid-year high of just over 1000. If you are thinking about selling, now is the time to get on the market. Odds are if you list today, you will be moving by February and be settled in time to enjoy spring. All things indicate that we are in for another record year for home sales in 2003. To date, from January 1st through October 28th, 1263 homes have sold in our MLS. In the same time frame in 2002, 1095 sold and in 2001, an even 1000 sold. Can this keep on going?"

Click here to view current Market Conditions in your location.

Published: December 3, 2003

Use of this article without permission is a violation of federal copyright laws.