Stability driven by first time buyers

January 13, 2010 at 06:07 PM · Posted under Steve Bauman

First-time home buyers were the engines that drove the Waukesha County real estate market in 2009.

By all accounts, the number of homes sold appears to be stabilizing. However, much of the activity has been in the lower price and can be tied to the $8,000 first-time buyer tax credit.

In 2008, there were 2,933 Waukesha County homes priced above $100,000 sold through MLS. That figure in 2009 was 2,901. That modest 1 percent decline looks awfully good when compared to the 22 percent drop in the number of homes sold between 2007 and 2008.

By all indications the first-time homebuyer credit had a big impact on the Waukesha County marketplace. Sales of homes priced between 100,000 and $199,999 were up a whopping 30 percent in 2009. Sellers in this price range saw more activity with many homes selling quickly at or near the asking price.

That impressive surge was offset by a 42 percent decline for homes priced between $600,000 and $750,000. The drop in activity here can be attributed, in large part, to the lack of transferees in the marketplace.

The 44 sales in this price range in 2009 pales in comparison to the 135 sold in 2007. That’s a two-thirds drop in sales volume in only two years. It would take all the talents of Ken Lay and Bernie Madoff to make those sales numbers look good.

Let’s hope 2010 sees further stabilization and at all price points. If that were to happen, then we could say we are in full recovery.

Posted by:Steve Bauman

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Time is slipping away!

May 22, 2009 at 01:56 PM · Posted under Colleen Kuchta

First time home buyers are out in full force these days. Many have realized that there has never been a better time in history to buy a new home. Prices are lower than they have been in years. Interest rates are holding steady right around 5%. AND, to make things even more enticing - first time home buyers can receive an $8,000 tax credit! Now here’s the catch: You MUST purchase the home BEFORE 12/01/09 to get your $8,000. Let’s be perfectly clear, that does NOT mean you need to have an accepted offer.

The closing must be completed before December 1, 2009. Ink dry, loan funded, keys in your hand - closed.

Many home owners, with their homes priced under $200,000, have already experienced an increase in buyer traffic. Quite a few have even received offers. So, what are you waiting for? The Kuchta’s - Kelly & Colleen, www.thekuchtas.shorewest.com specialize in assisting first time home buyers from start to finish. We can help you apply for a mortgage, tour properties, draft an offer, negotiate on your behalf, guide you through the home inspection and attend the closing with you.

Don’t delay, you don’t want to miss out on these great rates, and have your $8,000 slip away! The Federal Government has been holding rates where they are at in order to stimulate home sales. They won’t stay this low forever. Your free $8,000 won’t be here much longer either - 6 more months and it is gone forever. December 1, 2009 is fast approaching, so get out there & buy your new home. Contact us if you need assistance; The Kuchta’s - Kelly & Colleen, 262-894-6512 or ckuchta@shorewest.com

Posted by:Colleen Kuchta

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