Waukesha, WI

For Immediate Release
Contact: Mike Ruzicka
414.778.4929 or mike@gmar.ws

March 9, 2012 – The housing market continued its stellar start to 2012 in February, increasing 24.8% in the 4-county metropolitan area. February marked the 8th month in a row that sales increased by double-digits.

Brokers have been reporting a great deal of activity on their websites, at open houses and in showing requests since just after Thanksgiving 2011, which lead to increased closings in January and February. And, brokers are reporting even more activity in the first two weeks of March.

An unprecedented level of affordability and extremely low interest rates seem to be attracting buyers’ interest. The National Association of REALTORS® reported, “Housing affordability conditions have reached the highest level since recordkeeping began in 1970…. NAR’s Housing Affordability Index rose to a record high 206.1 in January, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power.”

With employment figures improving in the state, consumer confidence also appears to be rising. Consumer confidence has been a missing ingredient in the housing market’s recovery.

A notable change in the market is that listings increased in February by 22.8%. Generally, new homes are placed on the market in greater numbers in the spring; however, listing levels increased dramatically leading up to, and well into, the recession beginning in 2007. Part of the Milwaukee market’s problem over the last 5 years was an overabundance of inventory. The market had been correcting that inefficiency, decreasing listings in 10 of the last 13 months.

The increase in inventory this time is not necessarily an unwelcome development. Brokers have reported a dearth of quality, “move-in” quality homes in some areas of the market. While the level of inventory is still historically high, a large chunk of current listings are distressed properties (e.g. short sale, foreclosure). Many listings added in February are more likely to sell in the short-term than sit on the market for a long time.

County-by-County Sales Analysis:

· Milwaukee County was up 21.1% in sales over 2011 (493 units vs. 407 units)
· Waukesha County was up 32.1% vs. 2011 (222 sales compared with 168)
· Washington County was up 33.3% compared to 2011 (68 vs. 51)
· Ozaukee County was also up 20.0% vs. a year ago (42 units vs. 35 units)

The following information is for the period of 2/4/2012 to 3/4/2012 and is for the entire MLS content for this period.

In the Waukesha,Wisconsin Real Estate market 34 homes sold; 13 were list and sold by the same company, and 21 were sold by co-brokes.

In the Waukesha,Wisconsin Real Estate market there were 138 new listings.

In the Waukesha,Wisconsin Real Estate market there were 42 pending listings.

In the Waukesha,Wisconsin Real Estate market there were 2 withdrawn listings.

In the Waukesha,Wisconsin Real Estate market there were 0 canceled listings.

In the Waukesha,Wisconsin Real Estate market there were 77 expired listings.

In the Waukesha,Wisconsin Real Estate market there were 25 back on market listings.

In the Waukesha,Wisconsin Real Estate market there were 72 extended listings.

In the Waukesha,Wisconsin Real Estate market there are 607 currently active listings.

In the Waukesha,Wisconsin Real Estate it is a great time to call tom braatz to buy and sell!

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To Enter into my LCM Gateway all you have to do is enter and click on this link. Enjoy!

Have a productive day and I will see you at closing!

tom braatz

Oconomowoc Wisconsin Real Estate,or any Waukesha County Real Estate or LakeCountry Real Estate Email me at tom@tombraatz.com or call directly at 262-377-1459 What's my home worth?Market Analysis Want that perfect home? Dream Home Finder The MLS,on-line info,& more: www.buyingvip.com

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A friend forwarded me this, and I had to share it. Can some of you relate? Of course, I am way to young, ahem, to be able to truly get this poem LOL. Enjoy your weekend and may it be filled with many laughs!

Warren Buffett: It’s Time to Buy Real Estate

"Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it."

357 W. Wisconsin Avenue Oconomowoc, WI 53066 Phone: 414-254-6647 Fax: Email: kjohnston5@wi.rr.com http://www.kristinjohnston.com Provided as a courtesy of: Kristin K Johnston RE/MAX Realty Center

Remarks: Move-in ready home with great layout, spacious new rec room & tree lined backyard. Master bedroom features private bath & walk-in closet. Other 2 bedrooms also offer walk-in closets. Formal dining room & eat-in kitchen flows into the large family room. Private concrete patio & concrete driveway. Low maintenance exterior. Near glacial drumline trail. Easy access to I-94, shopping, schools & churches.
Private Remarks: Not a short sale or foreclosure. Seller paid $240,000 in 9/08 & then added the rec room after purchase. Only available due to job transfer.