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There
is no such thing as a national real estate market. Markets
vary with localized conditions. It's a mistake to look at
the Wisconsin market under a microscope with national
indicators.
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Wisconsin
is one of the most stable real estate markets in the
Midwest. Wisconsin continues to outperform most other
states.
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Housing in Wisconsin continues to be favorable in 2008 with
low interest rates, good selection and price stability.
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Nationally, Wisconsin is ranked 29th in foreclosures at
less than one half of one percent.
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Wisconsin median home sale prices in 2007 rose 0.2 percent
showing both stability and underlying strength of the
Wisconsin housing market.
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Interest rates on 30 year fixed-rate mortgages are
once again at historic lows and new home loans are
affordable for credit worthy buyers.
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60
percent
of the average homeowner's wealth comes
from their home's equity.
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Over
the past 30 years home values have risen more than six
percent
annually. On average, home values nearly double every 10
years.
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Homes
sold with the help of a real estate professional in 2006
sold on average for 32 percent more than FSBO sales.
The advantage of developing an
ongoing relationship with a professional – a REALTOR® – speaks for itself.
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2007
saw a seven
percent drop in the number of consumers who plan to
buy or sell their homes themselves
versus with
the help of a REALTOR® (NAR's 2007 Consumer Tracking
Highlights Report).
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A
house is a place to make a home,
not just a buck.
Most purchasers don’t buy a house to
flip it. They buy it to live in it. The value of strong communities, rooted families, civic pride, comfortable retirement, and a higher quality of life can’t be expressed on a balance sheet.
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Owning a home builds wealth in a way that renting can’t.
According to the Federal Reserve Board, the average renter’s net worth is $4,800, while the
average homeowner’s net worth is $171,000. Clearly, it pays to own a home.
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It’s prime time for second homes.
Savvy investors and prospective retirees know real estate is
important to their portfolios. About one third of all home
sales are second homes or vacation properties.
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