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Practically Speaking

Kyle and her husband moved to Brookfield in 1986. She became active in local politics and started blogging in 2004. Her focus is primarily on local issues but often includes state and national topics, too. Kyle looks at things from the taxpayers' perspective in a creative, yet down to earth way, addressing them from a practical point of view.

Houses ARE selling in Brookfield, Wisconsin, & U.S.

Common sense, THE ECONOMY

Daily, we are bombarded by bad news about the housing market. The media makes it seem that nothing is selling and that a mortgage is impossible to obtain. But this is not true. Take a look at our local market GOING PRICES

We had a home sell very quickly on our street that was on that price list. It seemed to sell fast too--in about 2 months. The new owners now occupy. Another home in our neighborhood on that list also sold over the summer.

A local Realtor I know says things are moving. Her daughter and husband just bought their first home--something they could not afford to do 2 years ago. This market is just what first time buyers were looking for. My Realtor in-law in New Jersey is also selling.  

Obviously with the stock market jittery, people might be hesitant right now to enter into long term debt if they don't feel their jobs are secure. But for those who have their financial house in order... interest rates at around 6% + home sellers anxious to sell = opportunity. (To put this into perspective, during the Carter administration, when we bought our first house, interest rates were around 18%!)

My own experience: Last summer, we sold the family townhouse in Shorewood. This was in August 2007 when the sub-prime mortgage troubles hit the market--no one was selling much of anything. Providentially, we were able to sell it in about 1 month.

The secret? Lots of prayer, lots of clearing out, and lots of cleaning.

We did wonder if we needed to update the decor first. But our Realtor, one of those lower commission ones, advised us that was not necessary. Instead of spending thousands of dollars updating, the olive green carpet, old kitchen, old bathroom, and outdated wallpaper stayed. (I did do a lick and a promise of a paint job at the front entrance though.)

Since I was the one who dealt with the potential buyer's Realtors who came through the property, I heard their reaction. They were impressed that the property was generally well maintained and very clean. The decor, or lack, was secondary. We settled on a price about $10,000 above the city's assessment and felt we did well.

If you have a home on the market, I wish you success, and don't underestimate the value of prayer and deep cleaning! 

Please, comment content should relate to the subject of the post. Although I try to respond to many, do not interpret my lack of a response as agreement.

Links: 

 

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Brookfield7, Fairly Conservative, Betterbrookfield, Jay Weber, Mark Levin,  Vicki Mckenna 

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