As the snowbanks melt locally, they seem to reveal house “for sale” signs blooming like tulips on the boulevards. And whether you’re contemplating buying this season or considering selling your home this summer, you want to know what’s on the horizon for the housing market, and how it will compare to last year.
As you may know, a widespread inventory shortage has made for a competitive market for buyers and a favorable market for home sellers. That’s expected to continue through this season, so it remains a good time to sell. But real estate experts are watching that trend and many believe the housing shortage will begin to experience signs of relief later this year.
That could be good news for buyers as it may inspire sellers to get in on the action sooner, rather than later. Bidding wars remain a factor, and that continues to drive up pricing. According to www.realtor.com, inventory is likely to increase with year-over-year inventory growth by this fall. That’s for the first time since 2015, per “Realtor.comÒ 2018 National Housing Forecast.” Experts say we can expect inventory declines to decelerate through the early part of this year until the end of the peak home-buying season. Most of the growth is expected to take place in the middle- and upper-tier priced homes.
If you’re a buyer looking for your first home, you’ll be in good company. By the end of this year, experts predict that millennials could make up 43 percent of buyers securing a mortgage, up from 40 percent last year. For that reason, entry-level homes are expected to continue to gain in price and inventory will continue to remain tight for this segment.
Meanwhile, appreciation is expected to slow, especially in the higher-priced housing segment. Overall home prices are forecasted to drop from a 5.5 percent growth rate in 2017 to 3.2 percent growth year-over-year nationally. That’s good news for buyers, and experts say not a surprise, as appreciation levels over the past several years was unsustainable, according to www.realtor.com, “5 Reasons It’ll Pay to Sell Your Home Early in 2018.”
Simply put, it remains a market favorable to sellers out there, though signs indicate inventory may be improving. According to www.washingtonpost.com, “What home sellers can expect in 2018: The market is still in your favor if the price is right,” experts say there is still just four months of housing inventory—a very low figure. With indicators pointing to a shifting scale, sellers may want to list earlier in the year, while buyers may want to consider a waiting game, balancing possible interest rate increases with the likelihood of improved inventory in the fall.
Nov. 19, 2017
The Noelke Team
It may be time to upgrade to a nicer house, a larger one, a different neighborhood or relocate for a job. Maybe you have more house than you need. Moving to a low-maintenance condo might just work for you. Regardless of your reason, if you are looking ahead to the next six months to year in your life, if selling your house is part of that plan, now is the time to get started.
With winter knocking on our doors here in the upper
Now that you have a plan in place for your house, don’t forget that there are other parts of the home selling or buying process that need your attention. Check on your credit score. If you’re looking to make a purchase soon, don’t open up any new lines of credit. Shop around for a real estate agent. Interview a couple of them and choose the one that seems to be a good fit in not only both of your personalities, but one that has experience and knows the market.
The same can be said for lenders. Shop around and see what kind of interest rates you qualify for, based on your credit history. Once you’ve found a lender that you want to work with, one of the most important steps is to get pre-approved. Do this before you even set foot in a house as a buyer shopping for the big purchase.
If you’re renting and don’t need to sell, you will be ready to place an immediate offer on “the one” you’ve been searching for when it comes on the market. Or, as a seller, you’ll be ready to start marketing it late winter or early Spring.
Sept. 24, 2017
The Noelke Team
2017 marches on into the fall season. Throughout the coulee region, as well as most of the entire state of Wisconsin, Homes listed for sale still are at very low inventories. Sale prices continue to be strong, and buyers on many properties find themselves in bidding wars. This is great news for sellers, as there are more buyers looking than houses for sale. If you're interested in selling your house to upgrade, re-locate, downgrade, or whatever your purpose is, contact the Noelke Team Today at email@example.com or 608-317-2410.
This year has been strong for the Noelke Team, as we had a couple properties listed for sale that accepted offers in under 7 days each. We have met many great people, have helped several buyers purchase a property this year, and are currently working with several potential buyers that are looking for the house fitting their needs.
2017 marks the tenth year in business of Coldwell Banker River Valley, Realtors, and that’s a milestone worth noting and celebrating. Of course, we couldn’t have gotten here without our great clients and excellent team of agents, so we hope you’ll join us in looking at ten of our top-ten lists—beginning with what we love about being in real estate and running the gamut through the top 10 pros and cons about working with family. We hope you’ll be inspired, entertained and maybe even learn some helpful hints along the way.
The real estate profession is not for everyone, but it is definitely for us. In honor of our ten awesome years, we came up with ten reasons that we do what we do. It was hard to stop at ten!
#1 Meeting new people—We’re charmed and inspired by the people we meet and the stories we hear each day. From our business partners to the clients we serve, we love to make connections.
#2 Every day is different— One day is spent looking at country ranch homes, the next at condos downtown. We go from staging ideas for sellers to home inspections for buyers. Each day is a new adventure.
#3 Problem solving—He loves Cape Cod style houses; she wants to be close to work. We love putting together the puzzle to help families find their very best home. We get to collaborate, discover wants and needs, and deliver on a daily basis.
#4 Never stop learning—Realtors learn about architecture, finance, legal issues and a hundred more college majors, sometimes in a single day. New knowledge makes itself available with each new selling or buying opportunity.
#5 Help make dreams come true—That moment when the last line item is signed and initialed, and the key is handed over is always exciting. Real estate is a career of new beginnings.
#6 Flexible schedule—We set our own hours and decide our own vacations. We work hard, but we also get to decide when we want to play.
#7 Personal and business growth opportunities—Coldwell Banker is a unique company that is locally focused, yet with international reach. We have access to a wide variety of opportunities to grow our business.
#8 Evolution of technology—We lead the industry in our embrace of smart home technology, learning and implementing all the possibilities to make our homes safer and more interesting at the same time.
#9 Cool houses—Interesting decor, creative use of space and new building trends come at us on a daily basis. We love seeing what homeowners do to make their space their own.
#10 Creative Outlets—We get to select photos, write home descriptions and figure out new ways to appeal to new audiences on a regular basis. This work is perfect for creative growth.
We’re not sure about the adage that you never work a day in your life if you really love your job, because we work hard. But we love what we do, and it shows. Thank you for a glorious decade, and here’s to ten more fabulous years!
April 26, 2017
The Noelke Team
The first quarter of 2017 is in the record books. As licensed real estate agents and as insiders of the industry, the Noelke Team has observed a few things of the current market.
Sales of existing homes, according to the National Association of Realtors, was up 5.6 percent nationally, for the first quarter of 2017 over last year. Locally, in the LaCrosse area, inventory of homes for sale is still very low and has struggled in overall numbers.
The shortage of homes for sale in our area has resulted in a 9 percent drop in total volume of sales, from this time last year. That is the slowest start in several years, and
The small availability of homes for sale has frustrated buyers. Many buyers are looking to purchase, and those that are serious, need to be ready to act fast when locating a listing that they are interested in. Being pre-approved for lending is different than being pre-qualified. If you haven’t done so, go speak with a lender so that you’re ready to put in an offer right away. Many of the homes listed for sale so far in 2017 – in
This has been music to sellers’ ears however. Home prices have been driven upward due to the shortage. Many are seeing full price offers, or even greater, depending on how many offers they are receiving. It is important to note that this is where hiring a professionally trained and licensed realtor to handle the negotiating and documentation of the transaction is important. It protects both the buyer and seller.
Spring is in full swing, and it’s time to get serious. The next six months are prime season for buying and selling of homes, so don’t wait until fall, when buyer demand begins to diminish.Economics 101 of 2017's Real Estate Conditions
March 22, 2017
The Noelke Team
Real Estate conditions in the Greater LaCrosse area are very strong in the first quarter of 2017. There are a few forces that are pushing it in this direction. Right now we will discuss a basic economic force in the real estate market.
Supply and demand. In Economics 101, you probably learned that when demand is low and supply is high, prices drop in order to sell stagnant inventory. This happens in any business, or line of products. The opposite is true when supply is low and demand is high. That is exactly what is taking place in the LaCrosse Area right now.
All over the internet, you’re probably seeing realtors post on social media that the market is hot, move quickly, and so on. It is true, as there is large number of buyers whom are house hunting. Supply of homes on the market for sale is quite low, and as a result, some sellers - in hot markets - are receiving multiple offers the first week their property hits the market. In some cases, multiple offers are received the very first day that the listing goes public on the MLS system.
What does this mean to you as a seller? It’s a great time to list your property for sale. But, keep in mind that not every property will sell fast, just because there is an imbalance in supply and demand. If a property has a listing sale price that’s too high, it is likely that it will sit on the market, and get overlooked by many shoppers. The property becomes stagnant on the market. It’s important to decide on a selling price that matches the current conditions of surrounding properties and those similar in amenities.
An experienced agent will show you a “comparative market analysis,” i.e. similar homes either currently for sale or ones that have recently been sold, in order to set a selling price that is reasonable with the current climate.