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Market Conditions in 53406 : Real Estate Advice

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  • Local Info1
  • Home Buying1
  • Home Selling1
  • Market Conditions3

Activity 4
Tue May 11, 2010
Dan Tabit answered:
Step one is get pre-approved for you mortgage. You may find you are qualified for a different amount. Once you are pre-approved get a good local agent and have them run all the sold comparables in the price range and see what percentage of the original list price most of the homes sold for.
I tend to show my clients listings around 10% over their price range, with the understanding that some may be willing to come down and others won't.
Best of luck in you home search.
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Sat May 1, 2010
Don Tepper answered:
It depends, in large part, on market conditions. It also depends on the motivation of the seller. Realistically, in most cases, I'd say look at everything below $225,000. Don't set a bottom limit on it. If you set it at, say, $170,000, you might miss a really great deal at $155,000.

So at least start off and see what's available at maybe $225,000 and below that meets your criteria--location, number of bedrooms, number of baths, age, style, etc. Then take a look at what $225,000 (list) will buy you. Then take a look at what maybe $200,000 will buy you, and $180,000, and $160,000. That'll help you narrow down the price range.

Realistically, not too many homes listed at $225,000 will come down to $180,000. But some will. And you may find something at, say, $219,000 that can be negotiated down to $189,000 that you'd be happy with.

So--start out fairly broadly. Then narrow it down.

Your Realtor can give you more information and more strategies.

Hope that helps.
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Wed Apr 1, 2009
Harvey & Nancy Paepke answered:
Hi Richard, In reviewing the stats for zip code 53402, I found that in March of 2008, average sales price was $165k, and properties sold at an average of 96% of the asking price, in an average of 125 days on the market.
In March 2009, the average price went up to $185K, at 96% of the asking price, and days on the market went down to 117. This is comparing March 2008 sales to March 2009 sales info from our MLS.
I hope this has helped you in seeing the change in the market in a year's time.
If you have any other questions, please contact us! We are full-time, full-service agent TEAM, always here to help you!
Nancy Paepke
Prudential Southeast Realty,LLC
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Sat Apr 26, 2008
Karen Wenzel, e-PRO answered:
I can't speak on the property values in Mount Pleasant, hopefully another agent from that area may be here on Trulia and can provide you with that information.

As far as Waukesha and Oak Creek. Both of these cities had appreciation in value of approximately 4-6% /yr. up until around 2006. Since then, for the most part - values have been modest or flat. As you know most properties have had some re-adjustment in value in the last 1 1/2-2 yrs. There was an abundance of inventory, which has made it a Buyer's market. Slowly we are seeing some of the excess inventory starting to be sold. There are some great values for Buyers who see the investment potential.
Since all the factors that made these areas desireable in the past still exist, I would imagine when the market picks up again, that the property values will appreciate accordingly.

Good Luck to you!
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