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Franklin Real Estate and Homes For Sale in Wisconsin - Troy Chowanec, RE/MAX Realty 100, Realtor®

14 September 2012 Franklin WI Real Estate Market Update

Hi, Troy Chowanec, RE/MAX Realty 100. Today I’m coming to you from the Hidden Lakes Subdivision in Franklin Wisconsin. Today is Friday September 14th 2012. I wanted to give you a quick market update and snapshot on what’s going on in this market here locally.

Currently there’s 142 active single family homes for sale in the Franklin marketplace. The average asking price is $293,883. The average square footage is 2245 square feet and the homes have been on the market an average of 178 days right now. Last month August 2012 there were 24 single family homes that sold. The last asking price of the homes that did sell was on average $247,798 that’s significantly less that the average asking price of those homes that are active and if you look at the square footage its not that different. 2225 square feet is the average square footage of the homes that sold in August. The days on market is significantly less almost 78 days less that’s over 2 months fewer days. The average days on market was 98 days in the Franklin market for those homes sold in August 2012.

Half the homes in Franklin sold in August for $230,000 or less and half sold for $230,000 or more so your median price is right there at about $230,000. The low price home that sold was $80,000. That was a home located over at 6811 S 111th Street and the high sale of the month for August was $385,000. That was a home that was over at 8569 S. River Terrace Drive in Franklin. If you have a question about selling your home in Franklin or buying a home feel free to give me a call or shoot me an email. Again my name is Troy Chowanec (with) RE/MAX Realty 100. Have a great day!

14 September 2012 Milwaukee WI Real Estate Market Update

Hi, Troy Chowanec, RE/MAX Realty 100. Today I am coming to you from Franklin Wisconsin. Specifically I am in the Hidden Lakes Subdivision. This sign has just been re-located as they have re-done their entrance monument. So I thought I would take the opportunity to showcase the old sign here. I want to start out with some market conditions we are seeing right now.

Right now RE/MAX Realty 100 is representing 872 Active listings in the MLS. We had 592 showing requests last week. Compare that to 2011 we had 1096 Active listings and only 486 showing requests. That is a 20% decrease in the number of listings and a 20% increase in the number of showing requests. So showings are still strong compared to last year this time. I was looking at market data as early as March and April of this year and the number of listings were similar to what we are currently seeing in the 800 or so number of listings we are representing. So inventory has stayed pretty level through out the year. Right now I am hearing buyers complain that there’s not enough good inventory to pick from….so that’s something to think about.

August we have the data that MLS has provided us as far as what’s happened over the course of the last month. In the four county region sales were up 21% over august 2011. In Milwaukee County Sales were up 11.5% there were 833 units sold vs. 747 units sold last year for August 2011. In Waukesha County the sales data is quite drastically different they’re up 42.7% in August 2012 over August 2011 531 listings sold in Waukesha County in August vs. 372 in August 2011.

Inventory levels continue to be low we’re at a 7.8 month supply of inventory right now and that’s quite a bit lower than we’ve been experiencing previously. 2007-2011 we had upwards of 10 months of inventory. Sales would probably be stronger right now if there was a better supply of inventory and more inventory for buyers to choose from. However, its still a buyers market and I suspect it will remain a buyers market for the foreseeable future. Interest rates are still low and that’s helping fuel the spur in sales. But prices really haven’t increased and so as a result it’s still a buyers market. Again, Troy Chowanec, RE/MAX Realty 100. If you have questions or want to know how I can help you sell your home or help you buy a home feel free to give me a call or shoot me an email. Have a great weekend!

20 July 2012 Milwaukee Real Estate Market Update


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Hi, Troy Chowanec, RE/MAX Realty 100. Today I’m coming to you from Franklin City Hall in Franklin Wisconsin. Today is Friday July 20th 2012. I’m coming to you with a new market update for the area. The Greater Milwaukee Association of Realtors last week came out with the statistics for June 2012 and for the (2nd) quarter. In the four county metro area home sales were up 25.8% in the month of June over last year and they were up 28.6% for the 2nd quarter overall. So that’s quite a dramatic increase over last year. That continues a 12 month double digit increase in home sales. So every month for the last year we’ve had a double digit increase in home sales to date. I think that’s largely attributed to the low interest rates that we are currently seeing out there on loans and the attractive prices on the homes that are out there as well.

In June we saw a 12.9% decline in the inventory listed in the metro area. So inventory continues to tighten and we are down to a 6.3 month supply of inventory at current time. We should start to see some pricing pressure as this inventory continues to decline with the increase in sales so that should bode well for some increase in price. We have seen that in a couple of counties but not in Milwaukee or Waukesha county as of yet. The breakdown for Milwaukee and Waukesha county are as follows: Milwaukee County for June of 2012 there was a 27.2% increase in sales over last year this time. There were 969 sales verses 762 last year. In Waukesha County we saw sales up 20.3% over last June. That’s 534 sales this year in June verses 444 last year in June.

The Centralized Showing Service which RE/MAX Realty 100 uses for showing requests shows that currently RE/MAX Realty 100 is representing 930 active listings verses 1168 this time last year. We had 664 showing requests this year verses 582 showing requests last year. So showings continue to be strong, inventory continues to tighten, this is all boding well for sellers that eventually we’ll see an increase in prices. We haven’t seen that yet but they are projected to start increasing in price sometime this year and into next year. If you have a question about listing and selling your home or about buying a home feel free to give me a call or shoot me an email I’d love to help you out. My name is Troy Chowanec with RE/MAX Realty 100. Have a great weekend.

21 April 2012 Milwaukee Real Estate Market Update

5 April 2012 Milwaukee Real Estate Market Update

24 March 2012 Milwaukee Real Estate Market Update

15 March 2012 Milwaukee Real Estate Market Update

Hi, Troy Chowanec, RE/MAX Realty 100. Coming to you today from Crystal Ridge in Franklin, Wisconsin with your weekly market update. Today is Thursday March 15th 2012. I got an email from the Greater Milwaukee Association of Realtors this week with February statistics for home sales in the greater Milwaukee area. In Milwaukee County, home sales were up 21.1%. We had 493 Sales over the 407 sales we had last year. Almost 86% of these sales were though, were for homes priced under $200,000. In Waukesha County home sales were up 32.1% over last year. There were 222 sales vs. 168 same time last year. 41.3% of the homes sold though were under $200,000. An additional 30% of the homes that sold were between $200,000 and $300,000. The GMAR is saying that this is the 8th month in a row that sales are up by double digits over last year. This is really encouraging news.

The CSS (Centralized Showing Service) report this week shows that we currently have 874 listings that RE/MAX Realty 100 is representing Sellers on. We had 774 showing requests last week which means that you had an 88% chance of having a showing on your listing. This continues the trend another week where listings are down over last year and showing requests are up. So the market continues to tighten and we are continuing to see that there is a lot of garbage on the market and the good properties are getting lots of showings.

If you have any questions about how this affects you or impacts you please give me a call. Until next week I hope you have a great St. Patrick’s Day and enjoy this wonderful weather.

8 March 2012 Milwaukee Real Estate Market Update

Hi, Troy Chowanec, RE/MAX Realty 100, Coming to you today from the Milwaukee County Sports Complex in Franklin, Wisconsin. Today is March 8th 2012. I want to start with a foreclosure update. A week ago I was talking about the Robo-signing Scandal and what that might mean for inventory. This last week the (Milwaukee) Journal Sentinel posted an article that said foreclosure filings in the SE corner of the state were up 7.2% over last year. In Milwaukee County we had 527 foreclosure filings in the month of February (2012) verses 487 last year (February). That’s up 8.2%. Waukesha County seems to be our glimmer of hope at the moment in February we only had 105 foreclosure filings in Waukesha County, down from 131 in (February) 2011. Most of the short sales and foreclosure properties I have been looking at with Buyers have had some real condition issues and this is going to be a problem for financing. Most of my Buyers are not cash Buyers, so these properties are going to continue to sit and probably have to have further price reductions until a cash Buyer can come along and see the value and can actually make some money on rehabbing the property before re-introducing it back into the marketplace.

Showing Report
CSS gave us statistics again. That’s the showing desk we use for scheduling all of our showings at RE/MAX Realty 100. We currently have 861 active listings represented by RE/MAX Realty 100 and we had 656 showing requests (last week). Showing requests were actually down this last week over the previous six (weeks.) But it’s still higher than it was last year at this time. Last year same period in February we had only 587 showing requests and over 1000 listings. So showings are still strong and inventory is still tighter than it was last year.

The last thing I want to talk about today is an article I read on the CNBC.com website. Essentially it says that almost 25% of all homes in the United States are currently under water. Meaning that those homes have mortgage (balances) higher than what the home is currently worth. That was for the 4th quarter 2011 that they were reporting. So this is a real concern as we look to see the bottom of the market here, hopefully more people will get equity as we go into next year and start to see an improvement in the house values. Thanks for taking a minute to watch this video. If you have any questions please feel free to email or call me, I’d love to see what I can do to help you out. Have a great day!

1 March 2012 Milwaukee Real Estate Market Update

Hey, Troy Chowanec here RE/MAX Realty 100, Coming to you today from Grobschmidt Park Part of the Milwaukee County Park System in Franklin Wisconsin. Today is March 1st 2012. So here’s you’re weekly market update.

Starting with a report I read on CNBC.com with respect to the inventory of homes for sale nationally. Currently we are at 2.31 million units available on a national basis but that’s the lowest levels we’ve seen since March 2005. 35% of all sales nationally are distressed sales. That means Short Sales, Foreclosures or some other form of distress. I would anticipate as we go into the spring and summer market that will represent a larger number of the sales because banks are going to start releasing those properties that have been held back because of the robo-signing-scandal into the market place.

On a local level we currently have 3530 Active single family home listings in Milwaukee County. They have been on the market an average of 190 Days, and the average asking price is $167,114. Contrast that with the Pending home sales, there’s 415 of those. The average asking price of those properties is $117,500 and they have been on the market only 138 days. So that means that the properties that are selling are priced $50,000 less than the average asking (price of the active listings) and they have been on the market 52 fewer days.

I have some preliminary data for February home sales. There were 283 single family homes that sold in February through the MLS (Multiple Listing Service) in Milwaukee County. The average asking price is $118,883 and the average sold price was $112,192. That means that homes that actually Sold in February were getting 6% less than the average asking price. I don’t know how that is going to change except for we need to have a continued tightening of inventory and a better supply of higher priced homes that people are finding of value.

Currently, RE/MAX Realty 100 is representing 862 sellers, that’s 25 more than last week and we had 722 showing requests. That compared to last year means we had 168 fewer listings this year over last year, yet we had 201 more showing requests over last year. So chances are you had a showing last week or the week before. If you haven’t then we need to see what’s going on with respect to price and marketing. If you have any questions feel free to give me a call or shoot me an email. I’d love to hear from you. Until next week we’ll see ya then.

23 February 2012 Milwaukee Real Estate Market Update

Hey everyone, Troy Chowanec, RE/MAX Realty 100.  Today I am coming to from Historical Area at Lions Legend Park in Franklin Wisconsin with your weekly market update.

I want to talk today basically again about what is happening in the market with respect to showings and listings.  We continue to see a tightening of listings that we are taking as well as an increase in showing requests.  In 2010 (week ending 2/20/11) we had 992 listings represented by RE/MAX Realty 100.  This year we have 837, that’s 155 fewer listings for the same period over last year.  The quality of the listings overall seems to be down.  Now I don’t want my Sellers to be offended by that because I think that my properties are really good properties.  But generally speaking a lot of the foreclosures and short sales out there are of poor quality and have a lot of condition issues. Showing requests last year, Last year we had 483 showing requests at this time (week ending 2/20/11).  This year showing requests are up to 734, for the same period, that’s 251 more showings on 155 fewer listings.  So, as you can see, showings continue to increase while listings and inventory, the supply continues to tighten.  That’s really exciting.

The data I’m reading right now is suggesting that we are going to continue to see a tightening of inventory as we go through this year.  And then next year, as the inventory starts to continue to whittle down we’re going to start to see prices start to increase.  They are not projecting price increases until sometime this next year in 2013.  This year we are supposed to see a continuing decrease in the number of listings that are out there and it’s going to continue to be a challenge as we continue this year because we may see some continued pricing pressure as we go through the spring market.  Hang in there, I hope you had a showing this last week.  There’s a good chance that you did and if not give me a call and lets see what we can do to make your property more attractively priced so that Buyers will see it as a bargain and will want to come and get a showing.  If you have any questions feel free to call me or shoot me an email.  As always, I’ll see you next week.  Have a great day, Bye!

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