Market Conditions in Kenosha>Question Details

Joanna, Both Buyer and Seller in 60102

Is Buying in Kenosha, WI will be a good investment?

Asked by Joanna, 60102 Wed Jul 25, 2007

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7
Joanna, This is a wonderful time to be shopping for a home in Kenosha. Interest rates are still at or near record lows. Sellers are willing to negotiate and the number of homes on the market give you many choices for your new home. Kenosha's market is proving to be much more stable than the decreasing national averages. Which should mean a faster recovery and and quicker return to equity building.

Now back to the community. I have spent my whole life in Kenosha and love the small town feeling that is present. Location could not be better for commuting or traveling to Milwaukee or Chicago. The metra is at the perfect location for ease of use. New places for dinning, coffee and nightlife are popping up on a regular basis. We have a beautiful Lakefront with museums and marinas. I think a visit to the area would be well spent. I would be happy to show you around. Give me a call.
1 vote Thank Flag Link Wed Apr 9, 2008
Joanna,

As you know, there are many factors that determine market value within a certain location. What I can tell you however, are the statistics that can help you identify whether or not the real estate you are about to purchase for investment is in line with the estimated values of surrounding properties.

In Outagamie county, for example:

Estimated median house/condo value - $147,185
Wisconsin - $152,600

In fact, another great resource are the Trulia Heat Maps, which will help you visually compare prices & popularity by state, county, city or neighborhood. These maps can be a great indicator of whether or not there is strong interest for people seeking homes in a given area.

I have included the link below, and wish you luck on your investment.
1 vote Thank Flag Link Wed Jul 25, 2007
Joanna,

Did you make a purchase? Did you consider some of the smaller towns in Kenosha County like Salem, Bristol, Union Grove, etc..? If you're coming from Algonquin and working in Kenosha, some areas just north of state line road may be a great option.
0 votes Thank Flag Link Sat Apr 11, 2009
Johanna, This link will take you to a site that will help your decision. It shows housing sales, trends, sales by type of property, schools, crime ect...All the information is from County records and are current.

http://www.bhgrealestate.com/Views/Look/Default.aspx

Good luck in your decision!
0 votes Thank Flag Link Wed Dec 3, 2008
Overall answer yes

Whether the answer is yes or no for you depends on what constraints and objectives you need to have met.
Your price point and desired outcome are the first questions you must ask. Simply from the context of real estate investment I can think of numerous markets that are better than Kenosha, Wi. Me telling you to buy in Austin, Tx, or Atlanta, Ga may not fit the fact that you have family or a job here. Figure out your priorities. Areas in and around Kenosha show very impressive numbers regarding homes maintaining value. The fact houses for sale stay on the market for the duration they do in Kenosha however may be a concern for you. Kenosha financially is strong, but it neighbors some areas that are the top of the nation for unemployment rates and the related concerns.

Me and wife have the majority of our family and friends here. I am a antional guardsmen preparing to deploy again overseas and want to leave my wife with a support network. So while I know of other markets to buy in, our ideal situation is to locate a deal here. At the same time I am considering placing an offer on a home I located in Georgia because of the kind of deal being presented. There is much risk to buying a rental property so far away, but the fact I may be able to acquire the house for 55% of value in a strong nieghborhood and school district may be enough to ensure a certain return for the risk.

Listen to all advice, but try to then examine what people are doing against what they are saying. I use to always ask realtors what they owned and where when working with them. Asking someone to "lead by example" is a safer play in todays market vs the "trust me now, you'll benefit later" style.

I also wouldn't buy from anyone selling you on promises of future appreciation. If there is equity to speak of you should see it at the closing table when you buy the home. I also would seek counsel through the entire transaction should the situation arise where the realtor is representing both you the buyer and the seller.

I am 26 years old. Through my business we will have invested over 75k cash into Kenosha as of Dec. 3rd. That money was earned through military service so every dollar is near and dear to us, but we fell kenosha is a good investment. Simply verfiy the surety of those you work with.....
0 votes Thank Flag Link Wed Dec 3, 2008
You know it is..We are right between Milwaukee and Chicago plus we just let the Giants into the Super Bowl. GO Pack Go...
Web Reference: http://www.adamwcoleman.com
0 votes Thank Flag Link Mon Jan 21, 2008
Hi Joanna,

I was born and raised in Kenosha and I am currently raising my family here. Kenosha is a great place to live. My mother has been a Realtor for over 30 years in Kenosha and I have been a Realtor for almost 10 years. Within the past 10 years we have seen a dramatic change in our community, we have so many people relocating here from IL. Our prices have been steadily increasing and even with the current lull in the market, we have not been hit that bad. If you have any other questions or would like more information on Kenosha feel free to email me anytime at peggy.kormylo@coldwellbanker.com. Good luck.
0 votes Thank Flag Link Wed Aug 15, 2007
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