Milton, WI

Here is today's market listings update for Active three (3) bedroom ranch homes located in Milton Wisconsin. This information was pulled from the South Central Wisconsin MLS on 2/2/2012 at 3:30 P.M.

• 29 total 3 bdrm ranch homes are currently listed in Milton, WI
• Low listing price: $75,000
• High listing price: $400,000
• Average listing price: $203,275
• Median listing price: $169,900
• Average days on the market: 164

If you are looking for a 3 bedroom ranch home that has a 2 car garage and a minimum of 2 bathrooms, then the numbers do change. Those stats are listed below.

• 13 total 3 bdrm ranch homes, with 2 bathrooms & a 2 car garage in Milton
• Low listing price: $129,900
• High listing price: $400,000
• Average listing price: $217,084
• Median listing price: $187,000
• Average days on the market: 156

Of course these numbers change on a daily basis, so to obtain the most up to date information, please contact us directly at 608-921-8536. We would be happy to customize the search further for you to find the home that is just right for you.

As an extra benefit to Rock Realty home buyers, we offer a 1% broker commission rebate after closing. This could mean $2,000 back on a home purchase of $200,000. We love to hear how these rebates help our clients. Some use them for home improvements, while others simply put it in savings for future needs. It is a great option that we are happy to offer. Contact us for further details and limitations.

Original Post - Ranch Home Listings in Milton Wisconsin

Milton Food Pantry Drive

News of the Milton Food Pantry drive for the Christmas Meal and the Childrens Gift Program reached me late today, and I wanted to publish this worthy cause even though the distribution date was December 17th. The community's donations enabled the pantry to serve Christmas meals and gifts to 160 families. They were also able to provide hats, mittens and new scarves as well as quilts to all new pantry users. Volunteers, businesses and donations from the community made it all possible.

This is the Milton Food Pantry, at the North end of Hilltop Drive. Their mailing address is P.O. Box 471.

Beside giving credit to those who worked hard to pull this all together, the purpose of this blog is two fold;

First, to let you know that the Christmas Meal and the Childrens Gift Program are annual events worthy of your support every year. I'll get a blog out as well as a letter to the editor in the Milton Courier asking for your help BEFORE the event next year.

Second, to let you know that the Milton Food Pantry would welcome your donation on any day of the year. 100% of your donation goes directly back to the people in our community. Their needs are ongoing, and the needs of the people they are serving in this economy are increasing. According to the Food Pantry Board, the requests for help have increased by more than 25% this year. The unemployment levels in our area remain too high, and while they rate of unemployment is declining, it is improving at a snail's pace. Please do whatever you can to help.

MARKET REPORT FOR MILTON, WISCONSIN - December, 2011

The winds of change are still blowing across the local real estate market in Milton, Wisconsin. Considering the numbers for the last 30 days across the Milton School District, we are getting back to a "normal" market, rather than a "Buyer's" or "Seller's" market. Some of the price ranges will vary as you'll see from the actual numbers.

Single Family Residences - Milton School District - December 10, 2011

Price #Sold #For Sale #Month's Supply

0 - 50K 0 3 -----

50 - 100K 1 10 10.0

100 - 150K 7 25 3.6

150 - 200K 3 28 9,3

200 - 250K 3 24 8.0

250 - 300K 1 19 19.0

300 - 350K 2 7 3.5

Over 350K 2 17 8.5

Total 19 133 7.0

A 6 month supply of homes for sale is considered a "normal" market, with 7 months supply or more considered a Buyer's Market, and a 5 months supply or less considered a Seller's market. This means that as the supply gets below 6 months, sellers will find it easier to sell their homes, and they may even see multiple offers. As you can see, this does not apply to all price ranges yet.

Looking to the future, we are seeing forecasts of additional foreclosed properties being released for sale by the Banks, possibly increasing the number of homes on the market in the lower price ranges. We are hopeful that the current low interest rates will keep sales from slowing, and will keep the inventory of homes on the market from growing.

Look for another blog in the next few days about the market conditions in Janesville, Wisconsin. Information courtesy of the Rock-Green Board of REALTORS.

Avoiding Problems with Your Escrow Account

If you are using a mortgage to purchase your first home it is highly likely that the lender will request that you use escrow in order to handle the annual homeowner's insurance and taxes on the property. This is reflected by an additional payment on top of the interest and principal payment that you make on the home loan. Ideally, the lender will review this account every year to see if there are overpayments or underpayments and change the escrow accordingly.

Unfortunately, we don't live in a perfect world and companies do make mistakes. Here are some important facts to help you understand the basics of an escrow account.

Taxes

Property taxes are usually reviewed one year after a home has been purchased. At this time the property will likely get a new assessment, which can drastically increase the tax amount. For people that are buying a previously owned home this will usually not be an issue, although you should look at what the current assessment value is. If you are buying a brand new home, or if you have just built a home, then the previous tax amount was based on an empty lot. The existence of a new home will greatly improve the lot's value and subsequently change the tax amount.

Insurance

Before finalizing the loan you will be asked to provide proof of insurance from a licensed insurance agent. The location of your home may dictate a few extras that might not be prevalent in other areas.

For instance, if you are considering the purchase of a home that is close to a river or lake then you may be in a flood zone and subject to flood insurance. Homes that are located in extremely rural areas may be subject to higher premiums if there are no fire fighting stations in close proximity to the home. It is vital that you speak to your Realtor® before buying a home to see if there are any conditions about the home that would result in a higher insurance policy.

Reviewing the Escrow

Every year your lender should mail you a letter that goes over the escrow account for the previous year. It should list all of the payments you made to the escrow account as well as any amounts disbursed from the account to cover your expenses. You should also contact your homeowner's insurance agent and the local tax assessor's office to see if there are any upcoming changes for your tax bill or your insurance bill.

How to Handle Property Tax Increases

Going back to the early example of someone buying a new home or building a home, there is the expectation that the property tax amount will increase tremendously. If the increase is more than $1,000 then the lender will possibly add $2,000 to the escrow account in case the taxes increase again the following year. This presents you with three choices:

• Accept the new escrow amount and pay the additional $167 monthly amount
• Ask your lender if they will spread the extra amount over the next two years to make the monthly amount lower
• If you have the funds, offer to pay the increased tax amount yourself so that your escrow payment does not change.

“We are writing this testimonial to inform any potential clients that Michael Collins successfully helped save our home. We found ourselves in a financial hardship which caused us to be late on mortgage payments. This eventually led our lender to foreclose on our home. Michael Collins was able to negotiate with our lender and cancel the court auction. This gave us time to resolve our financial difficulties and eventually work out a payment plan with the bank.”

“We both strongly endorse Michael Collins as an agent who has the experience and resources to help people like us in a similar situation. We are deeply gratefull for his efforts and plan to use him as our agent in any future real estate transactions.”

Chris & Linda C.(Janesville, WI)
Rock Realty Clients

—–