April 2010 Sales report-Waukesha, Jefferson and Dane Counties

Many of you ask us “What is going on in my local housing market?” 

Below you will find sales data for Waukesha, Jefferson and Dane Counties.
These sales are single family homes only. If you would like to see postings on
Condos, land or any other county let us know.

…or sign up for a monthly email report that is specific to your
neighborhood! 

See blog post

http://mywisconsinrealestateblog.com/post/1218462/pricing-your-home-in-todays-market

 If you are curious on the value of your home visit

www.YourLocalHomeValue.com

Compare 2008 vs 2009
Overall for Waukesha county sales were up from 2009. Average sale price was up
for sales over 300,000
 

Click to view 2010 Sales under $300,000  Here are the number of sales
for the top cities

Brookfield had 20 sales, Delafield at 2, Eagle 5, Elm Grove 3, Genesee 5, Hartland
5,
Menomonee Falls 22, Merton 5,Mukwonago 6, Muskego 11, New Berlin 24, Oconomowoc
19,
Pewaukee 5,
Sussex 4, Waukesha 68       

Click to view sales for 2010 over $300,000  Here are the number of
sales for the top cities

Brookfield had 10 sales, Delafield at 5, Elm Grove 2, Genesee 3, 
Menomonee Falls 7, Merton 3,
 Mukwonago 3, Muskego 3, New Berlin 4, Oconomowoc 7
 Pewaukee 7, Sussex 3, Waukesha 6

Click to view
Jefferson county sales in 2010   Here are the number of sales for
the top cities
 Fort Atkinson 11, Ixonia 4, Jefferson 8, Johnson Creek 3, Lake Mills, 5,Watertown
16.

Dane County Sales under 300,000 for 2010
Average sale price is slightly down but the number of homes as increased 

 Click
Here to View Listings  (Under 200,000)

Click Here to View Listings  (200-300,000)

Compare to 2009 under 300,000

Dane County Sales over 300,000 for 2010

Click Here to View Listings

Compare to 2009 sales over 300,000

If you like this report please comment or share with someone.

Brad Koenig

March 2010 Sales report-Waukesha, Jefferson and Dane Counties

Many of you ask us “What is going on in my local housing market?” 

Below you will find sales data for Waukesha, Jefferson and Dane Counties.
These sales are single family homes only. If you would like to see postings on
Condos, land or any other county let us know.

…or sign up for a monthly email report that is specific to your
neighborhood! 

See blog post

http://mywisconsinrealestateblog.com/post/1218462/pricing-your-home-in-todays-market

 If you are curious on the value of your home visit

www.YourLocalHomeValue.com

Compare 2008 vs 2009 notice the Days On Market as well as the average sale
price difference.
This is a good time to buy your first home or move up in size. 
Overall for Waukesha county sales were up. Average price is still down compared
to 2009.
As a buyer this is where you will make it up.

Click to view 2010 Sales under $300,000  Here are the number of sales
for the top cities

Brookfield had 22 sales, Delafield at 1, Eagle 2, Elm Grove 1, Genesee 3, Hartland
3,
Menomonee Falls 16, Merton 2,Mukwonago 6, Muskego 12, New Berlin 14, Oconomowoc
19,
Pewaukee 7,
Sussex 2, Waukesha 44

Click to view sales for 2010 over $300,000  Here are the number of
sales for the top cities

Brookfield had 10 sales, Delafield at 7, Elm Grove 2, Genesee 1,
Hartland 1,
Menomonee Falls 9, Merton 2, Mukwonago 1, Muskego 3, New Berlin 5, Oconomowoc 3
 Pewaukee 4, Sussex 1, Waukesha 2

Click to view
Jefferson county sales in 2010   Here are the number of sales for
the top cities
 Fort Atkinson 3, Ixonia 5, Jefferson 6, Johnson Creek 6, Watertown 9.

Dane County Sales under 300,000 for 2010

Click Here to View Listings

Compare to 2009 under 300,000

Dane County Sales over 300,000 for 2010

Click Here to View Listings

Compare to 2009 sales over 300,000

If you like this report please comment or share with someone.

Brad Koenig

February 2010 Sales report-Waukesha, Jefferson and Dane Counties

Many of you ask us “What is going on in my local housing market?” 

Below you will find sales data for Waukesha, Jefferson and Dane Counties.
These sales are single family homes only. If you would like to see postings on
Condos, land or any other county let us know.

…or sign up for a monthly email report that is specific to your
neighborhood! 

See blog post

http://mywisconsinrealestateblog.com/post/1218462/pricing-your-home-in-todays-market

 If you are curious on the value of your home visit

www.YourLocalHomeValue.com

Compare 2008 vs 2009 notice the Days On Market as well as the average sale
price difference.
This is a good time to buy your first home or move up in size. 
Overall for Waukesha county sales were up for homes over 300,000. They were down
for under 300,000. I think
this number will change for March and April.

Click to view 2010 Sales under $300,000  Here are the number of sales
for the top cities

Brookfield had 10 sales, Delafield at 1, Eagle 3, Elm Grove 2, Hartland 4,
Menomonee Falls 10,
 Merton 4,Mukwonago 4, Muskego 2, New Berlin 9, Oconomowoc 8, Pewaukee 8,
Sussex 5,
Waukesha 18

Click to view sales for 2010 over $300,000  Here are the number of
sales for the top cities

Brookfield had 5 sales, Delafield at 7, Eagle 1, Elm Grove 3, Genesee 3,
Hartland 1,
Menomonee Falls 4, Merton 2, Mukwonago 1, Muskego 3, New Berlin 5, Oconomowoc 3
 Pewaukee 4, Sussex 1, Waukesha 2

Click to view
Jefferson county sales in 2010   Here are the number of sales for
the top cities
 Fort Atkinson 4, Ixonia 2, Jefferson 4, Johnson Creek 2, Lake Mills 4,
Watertown 11.
 

Dane County Sales under 300,000 for 2010

Click Here to View Listings

Compare to 2009 under 300,000

Dane County Sales over 300,000 for 2010

Click Here to View Listings

Compare to 2009 sales over 300,000

If you like this report please comment or share with someone.

Brad Koenig

Many of you ask us “What is going on in my local housing market?” 

Below you will find sales data for Waukesha, Jefferson and Dane Counties.
These sales are single family homes only. If you would like to see postings on Condos, land or any other county let us know.

…or sign up for a monthly email report that is specific to your neighborhood!

See blog post http://mywisconsinrealestateblog.com/post/1218462/pricing-your-home-in-todays-market

 If you are curious on the value of your home visit www.YourLocalHomeValue.com

Compare 2008 vs 2009 notice the Days On Market as well as the average sale price difference.
This is a good time to buy your first home or move up in size. 
Overall for Waukesha county sales were up with average sale price was up $5,000.

Click to view listings   It make take a minute to load  (this link only good until 03/05/10)

Compare this to 2009

For Waukesha county over 400,000 the number of sales remained the same but notice the average sale price
was down $65,000 compared to 2009.

Click to view listings   It make take a minute to load  (this link only good until 03/05/10)

Compare this to 2009

Click to view listings   It make take a minute to load  (this link only good until 03/05/10) 
One thing to note, northside was on the market for 3 years. Starting price was 1,590,000.

Compare this to 2009

Dane County Sales under 300,000 2010

Click Here to View Listings

Compare to 2009 Homes sales under 300,000

Dane County home sales over 300,000 in 2010

Click Here to View Listings

Compare this to sales in 2009.  Notice the highest and average sale price.

If you like this report please comment or share with someone.

Brad Koenig

Below is an article to read on Cost vs return on value for certain items in your home.  Kitchens and Baths I think are still the best. But  a  coat of paint and new flooring goes along way. I dont know if I agree with some of the prices listed.  What do you think?

http://www.remodeling.hw.net/2009/costvsvalue/division/east-north-central.aspx

Uncertainty and restraint are the order of the day in this economy, and that sense of caution is reflected in home owners’ return on their investment in remodeling projects, according to REALTORS® in 80 metropolitan markets surveyed by Remodeling magazine for this year’s Cost vs. Value Report.

The majority of the 10 remodeling projects with the best return on investment nationally are a testament to pragmatism. Six of the 10 projects—siding and window replacement using a variety of materials—involve home maintenance that costs less than $14,000.

Two more—adding an attic bedroom or a wood deck—reinforce the notion that boosting the amount of livable space in and around your home will attract buyers who are increasingly looking for more room for their buck. In past years, converting an attic into a bedroom was a project that landed squarely in the middle of the rankings, but this year it leapfrogged over other categories into third place. It’s an admittedly pricey project, with an average national cost of nearly $50,000, but it generates an average national return of 83.1 percent and a better-than-100 percent return on investment, according to REALTORS® in 14 of the 80 cities surveyed. Adding a wood deck is much more economical, with an average national cost of slightly more than $10,000. Its average national return is 80.6 percent, but in six cities, its return is estimated at 100 percent or greater.

The six siding and window home maintenance projects in the top 10, combined with the project with the biggest return on investment—a mid-range entry door replacement—prove something that every sales associate tells sellers throughout the country: First impressions count. A mid-range entry door replacement, a project new to the survey this year, is the only home remodeling project that REALTORS® expect to generate a full return for the money nationally. It’s the least expensive of the 33 projects included in the analysis, yet it brings a whopping average national return on investment of 128.9 percent. It generates a better-than-100 percent return in 48 of the 80 cities, according to REALTORS® surveyed, and in several cities, its return is estimated at more than double its cost.

Additional data prove the value of restraint. Upgrading kitchens and baths is still a smart bet. However, home owners will recoup the greatest share of their costs by foregoing super-deluxe projects in favor of mid-range kitchen and bath remodels. A mid-range kitchen remodel brings an average 72.1 percent return on investment, while an upscale kitchen re-do returns only an average of 63.2 percent of the money invested. A mid-range bathroom project has an average 71 percent cost recovery, but the average recovery on an upscale bathroom project is nearly 10 points lower, at 61.6 percent.

The only upscale projects that cracked the top 10 were the home maintenance projects of fiber-cement siding replacement and vinyl window replacement. The average cost of fiber-cement siding is more than $13,000, but its return on investment reached 83.6 percent, placing it squarely in second place in the survey. The average cost of vinyl window replacement is nearly $14,000, and it generates an average return of 76.5 percent, or tenth place in the survey. Of the 12 upscale projects, nine landed in the bottom half.

Overall, home owners recouped an average of 63.8 percent of their investment in 33 different home improvement projects, according to REALTORS® who responded to the survey. The expected cost recoup was generally down from previous years in line with the drop in home prices nationally (see page 23). The return on home owners’ investment in remodeling projects has declined an average of 3.5 percentage points between 2008 and 2009. That’s down from the 2.7 point drop between 2007 and 2008 and much less than the 5.5 point drop between 2006 and 2007 and the 10.5 point drop from 2005 to 2006.

Zooming in from the national to the city level, Honolulu sits atop the rankings for having the most projects—18—that generate at least a full return on investment. In Honolulu, adding a wood deck, completing a minor kitchen remodel, adding fiber-cement siding, and replacing an entry door bring the highest returns, ranging from 121.1 to 195.3 percent return on investment. San Francisco is closest behind with 10 projects generating at least a full return on investment. Adding a master suite, doing a minor kitchen remodel, and replacing an entry door have the biggest returns, producing between 112.2 and 119.1 percent return on investment.

One surprise: Despite the common perception that contractors are hungry for work and therefore willing to wheel and deal, the average national cost of every project surveyed has gone up, though at a slower rate than in the previous year.

View 2009-10 Cost Vs. Value Report.  Data courtesy of Remodeling Magazine

10 Big-Impact, Low-Cost Remodeling Projects

Working with sellers who have some—but not unlimited—cash for upgrades? Here are budget-minded enhancements you can suggest to make their home stand out.

1. Tidy up kitchen cabinets.

“Potential buyers do open kitchen cabinets and look inside,” says Morrissey. “Home owners can add rollout organizing trays so when buyers peek in, they feel like there’s lots of room for their stuff.”

2. Add or replace tile.

“By retiling very inexpensively, you make a room look way cleaner that it was,” says Javier Zuluaga, owner of Home Repairs and Remodeling LLC in Tempe, Ariz. “Every city has stores that offer $1 to $2 tile, so home owners have to pay only for the low-cost tile and labor to replace a dated backsplash or add a new one. We also use inexpensive tile to upgrade bathrooms.”

3. Add a breakfast bar.

When a wall separates a kitchen from a family room, suggest cutting out an opening to create a breakfast bar. “In one home, there was a cutout in the wall between the kitchen and living room,” explains Matthew Quinn, a sales associate at Quinn’s Realty & Estate Services in Falls Church, Va., who handles estate and real estate sales for family members whose loved ones have passed away. “We left the structure of the cutout, added an oversized granite breakfast bar, and put chairs in front of it. That cost about $600.”

4. Install granite tile instead of a slab.

“Everybody is hot for granite kitchen countertops, but that can be a $5,000 upgrade,” says John Wilder, a general contractor and owner of Fence and Deck Doctor in New Castle, Ind. “Instead, home owners can put in 12-inch granite tiles for about $300 in materials and get very high impact for little money.”

5. Freshen up a bathroom without retiling.

“With a dated bathroom, I recommend putting in a new medicine cabinet for $100 to $150, light fixtures for about $100, a faucet for $50 to $75, and a vanity for $200 to $300,” says Wilder. “And instead of replacing the tile, the existing grout can be lightly scraped and regrouted, which leaves a haze that can be buffed out and will make the tile look brand new. Also install glass shower doors. A French door adds a lot of panache and elegance for $250, and people will notice the door, not the tile. With all that, you’ve done a bathroom remodel for $1,000 to $2,000.”

6. Freshen up the basement.

“If home owners have cement block or poured concrete walls in the basement, suggest they have a contractor fill in cracks with hydraulic cement and then paint with waterproofing paint,” recommends Wilder. “They can then add a top coat to add color. They can also paint the basement floor with a good floor paint, which spiffs it up. The basement may not be finished, but it’s no longer a damp dungeon.”

7. Add a room.

Look for large spaces that can be enclosed to create a new bedroom for just the price of creating a wall. “One time, we closed off a half-wall to an office and added a door to the other side of the room, thus creating another bedroom,” says Quinn. “That $400 procedure, which took a contractor one day, netted about $40,000 in the sales price.” Zuluaga has also added bedrooms inexpensively. “In a two-bedroom house, there was an archway that led to a third room that was used as a den,” he explains. “It had a dry bar where there would have been a closet, so we took out the dry bar and created a closet so the owners had a third bedroom.”

8. Spruce up cabinet fronts.

Suggest home owners update tired-looking kitchen cabinets. Reconditioning is the least expensive move for under $1,000. “If the wood is starting to look shabby from use or contaminants in the air, we take out the nicks and scratches, recondition it with oil, and put new hardware on,” explains Heidi Morrissey, vice president of marketing and sales at Kitchen Tune-Up in Aberdeen, S.D. For $1,500 to $4,000, owners can replace the cabinet doors and drawer fronts, and for $4,000 to $12,000, they can have all the cabinets refaced. “With refacing, owners can change the color of the cabinets by replacing the door and having a new skin put on the boxes,” says Morrissey. “If they have oak cabinets today, they can have cherry the next day.”

9. Replace light fixtures.

“In a foyer and in bathrooms and kitchens,” says Wilder, “replacing overhead light fixtures provides a lot of pop for a little money.” If the kitchen has track lighting, Zuluaga suggests the home owner spend $450 to $600 to have an electrician replace it with recessed canned lights on a dimmer switch to add ambience. For about $700, Zuluaga also suggests installing pendant lights over a kitchen island or peninsula.

10. Tech-up the garage.

“Sometimes we replace the garage door opener with a remote touchpad entry system,” says Zuluaga. “That costs about $425 and makes it look like a high-end system.”

Download a PDF version of these 10 big-impact, low-cost ideas. 

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Pricing your home in todays market (part 2)

There are numerous ways to price your home in today’s market.  The most popular is the appraisal method.  With this method you find 3-6 properties similar to your home that have sold in the last 1-3 months. Some appraisers will go back 3-6 months if they need to.  This is a good way to solidify a purchase price.  However this is past data.

If you are looking to be competitive and sell in today’smarket you have to look at another option.  Put your self in the position of the buyer and look at active listings.  How can you compete against the homes that are already on the market.  Number one is price but you can also other features that make you more appealing.  How much is that worth to a buyer?  Remember don’t go overboard. Buyers are savvy and will always look at price.

Lets take a look a the two examples.  Lets say you have a average 3 bedroom 2 bath ranch in a good size subdivision.  If you find 3 properties identical to your home and they all sold within the last 3 months with an average sale price of $245,000. You could list the home for $249,900 and expect offer in the $245,000 price range.  Would you agree? There is no guarantee your home will sell for this.

With my method we take active listings.  We are still looking at the same 3 sold comps but we are competing against 6 other homes that are on the market from $235,000-$245,000.  If you list at the $249,900 you are chasing the market and will only help sell your neighbors home.  I am sure they will thank you for that.

If we price the home at the $235,000 we are now leading the market and your neighbor will help sell your home in a quicker time frame.  Then you can go thank them.

Are you curious on the value of your home?  Go to www.YourLocalHomeValue.com fill out some information about your home.  Then you will be sent a computer generated report for your area.  (sorry south central/Milwaukee wisconsin area only)

View an example here.

This is just an estimation. If you are looking to sell you really need to have an experienced agent come through your home.

Brad Koenig
www.YourLocalHomeTeam.com
262-719-7393