Are we angry about the inexcusable and irresponsible mortgage lending starting in the year 2000, culminating in the mortgage meltdown of 2008? Are we upset about losing value in our homes from 2008 until present? Here is some perspective that may provide some peace and solace and allow you the freedom to move forward!

Here is a graph which charts mortgage prices back to 1890, for existing housing as an investment over time. The cost of inflation is factored out of this chart. The figures are national, as our Milwaukee-Metro market varies in swings up and down. One fact is certain, that in the years 2000-2006 prices skyrocketed to exaggerated highs, coming back to pre-2000 prices where we are today.

Why did those prices spike to unsustainable levels of 2006? Because of the irresponsible Read the rest of this entry »

As in any sale, one must have a keen understanding and profile of the purchaser of their product. The same is true for anyone who is contemplating a successful transaction in an ever-changing real estate market. Over the years I have observed a change in buyer’s expectations when searching for that right home which meets their requirements.

Young people today are delaying marriage and having children later in life. This has led to the increase of single buyers purchasing on one income and a more cautious approach to their search. This group typically 25-32 years of age are looking for homes that require little updating. They do not have the funds to make major repairs such as updating kitchens and baths, or correcting structural issues. Their price range would be in the lower price point of the market in the community they choose. Since this is usually their first home, they do their homework and are more educated in the real estate market than ever before, due to the proliferation of information via the internet. A seller today would be smart to Read the rest of this entry »

I am fortunate to have a view of the real estate market which most folks just don’t have. I sell many homes each year and talk to mortgage lenders, buyers, sellers, home inspectors, stagers, contractors and so many others connected in some fashion to the housing market. In my conversations we discuss the current state of the market as well as their prediction or feel for the future based on their client’s comments and views of the present health of our local real estate market as well as the expectations for the future. I want to share those views with you, the reader, so you can make plans for your home sale when the time is right for you. Also, you can share this information with your children and grandchildren who may be on the sidelines waiting for the right time to jump into the housing market for their very first purchase.

The overwhelming sentiment is that we will not see appreciable appreciation of our single family homes for another two to three years. But the good news is that price depreciation is slowing down to a single digit decline and moving towards stabilization. That is very good news, as prices have fallen since 2006. That has been a 5 year fall in home values for an average decline of 20-40%, depending on location. Inventory of homes for sale is also falling which is a sign of recovery. Therefore, do we wait for that moment when we know the bottom is here and prices are on the rise? My experience shows me that Read the rest of this entry »

I was recently interviewed and featured in an article by Rebecca Konya in the Milwaukee Journal Sentinel. Click here to read the article: Senior Living: Navigating the market

Sibling rivalry is a type of competition or animosity among children, blood-related or not.

Siblings generally spend more time together during childhood than they do with parents. The sibling bond is often complicated and is influenced by factors such as parental treatment, birth order, personality, and people and experiences outside the family.

The above definition from Wikipedia pertains in many cases to the differing view points of children as to how to best care for their aging parents. I have had the honor to work with many families who have struggled through the process of helping parents transition from single family home living to a senior apartment or community. In the end, the majority of the siblings I work with have one goal and that is to make sure their parents or parent is safe and secure with the best quality of life. As in the above definition of sibling rivalry, there are complicated connections to brother and sister, and in those relationships confusion and sometimes disagreements may occur when trying to help mom and dad.

So many decisions have to be made when a home is no longer working for the older adult. Many of my seniors choose not to Read the rest of this entry »