About Rock County, WI

With the Year just about over, we are finding that Sale Prices are about what they were in 2004.

The number of sales are down about a third.

For Sales, Sellers have been averaging about 93% of their asking price.

It certainly is a good time to buy with interest rates hovering around 5% for fixed rate mortgages; first time buyer's may still be able to qualify for the $7,500 tax rebate until about June of 2009.

It may also be a good time for sellers to put their homes on the market, because seasonally some have come off the market and I think you will see renewed interest and activity once the New President and staff take office. Plus tax return money will be available.

MAY EVERYONE HAVE A HAPPY HOLIDAY SEASON!

JERRY MORSE, REAL ESTATE MARKETER.

608 436-6858

HERE IS MY TOP TEN LIST FOR BUYING TODAY!

1. Lots of Inventory! With about 50% more homes for than usual, you have the selection of a lifetime.

2. The Bidding Wars are Gone! Remember 3 or 4 years ago when you had to offer more than list price just to just to get the property because of multiple offers. Now, Buyers, the cards are in your hands.

3. Bargains Galore! Now you can offer a low offer and the seller will not be as insulted. Sellers have had to lower prices in a changing market and have had to compete with short sales and foreclosures listed at reduced prices.

4. The Flippers are Gone! You no longer are competing with those who bought property just to try to turn around and sell them at a quick profit causing prices to inflate.

5. Professional Advice is available to you! Experienced agents, like myself, as your Buyers Agent, can help you negotiate and make good decisions. You know where the market is at and can feel that you are in a safe zone when making an offer.

6. Many builders will sell at cost! Most need to unload inventory that costs them thousands to hold each month.

7. Interest Rates are still at all-time lows!

8. Sellers are tolerant of Inspection and Repair requests! When it was a seller's market, too often the seller would tell the buyer it is being sold "AS IS" and I am not doing repairs. Sellers are now willing to address home inspection issues and your requests to have repairs done to the property.

9. OLD FASHIONED Fixed Rate Financing and Incentives are available! If you are a legitimate buyer, you don't have to worry about gimmicks with loans that escalate every year. Fixed rate financing is available at low interest rates. FHA loans still only require 3% downpayment and a FIRST TIME BUYER may qualify for up to a $7,500.00 tax credit.

10. Finally, Real Estate is still a good investment! In our market, despite the ups and downs, homes have appreciated at a rate of over 6% per year for the past 28 years. That means a $10,000 (investment) down payment on a $100,000.00 home could see a $6,000.00 return per year on your $10,000.00 investment if history repeats itself!

So what are you waiting for? Give me a call because now is the time to buy. If we don't, we all could be looking back years from now saying I wish I would have purchased in 2008 when both home prices and interest rates were low.

Jerry Morse, Real Estate Broker, BBA, CRB, CRS, GRI

608 754-5300 Office

608 436-6858 Cell

I just want to say that the media has totally got the world by the ear (or other body part, your choice).

Yes, I would like to make it through the day without feeling like the sky is falling, without hearing that

the sky is falling (and how quick).

Did you know that consumers are calling to inquire about refinancing their homes. Yes,

something good is happening out there. We all still need to live. Young and old still need to have

a roof over their head. Home ownership is still preferred over renting. People will still have get married,

transfer from area to area, have children, become empty nesters, get divorced and/or die. Simply said,

we all need a place to live.

Let's concentrate on finding a silver lining in this whole mess. Maybe we will become less wasteful and

kinder to each other. Would that be so bad??

Our area has been hit this year with several disasters. We got the announcement that the plant would close in 2010 sometime in May. Then we lived through a devastating flood that consumed a large part of our city and county. In late summer, the GM announcement came that the closing would be moved up to December 23, 2008, right before Christmas. If this is not enough, the national economy is in bad shape as well, the stock market pummeled. How do we move forward from here?

I believe this is a starting point. Maybe we're at the bottom. I have lived in Rock County my whole life. I'm not going anywhere. We are strong and will survive. It's time to show our confidence in our area by trying to maintain our local businesses. It's going to be a tough Christmas for most. The uncertainty is the worst part. I have many sellers who need to have their home sell. If we all pull together as a community, maybe we can have this turmoil end sooner than later.

I'd be happy to hear from other folks who've survived a large devastation in their local economy and how they survived. I'm up for the challenge!

After months of speculation, General Motors has finally announced its plans for the production facility in Janesville, Wisconsin.

Local General Motors' employees learned officially this morning that production of full-size sport utility vehicles will end on Dec. 23.

The work stoppage will affect approximately 1,150 hourly & 130 salaried employees at GM, plus hundreds more at local companies that supply the auto plant.

GM announced in June that it would end SUV production in Janesville by the end of 2010 at the latest, but plummeting sales for the big trucks prompted the automaker to accelerate the closing of the Janesville plant.

Travis Egan

Delavan, Wisconsin