English: Bureau of Labor Statistics measurements U1, U2, U3, U4, U5 and U6. (Photo credit: Wikipedia)
English: Chart of United States Personal Savings Rate from 1960-2010. Data source: FRED, Federal Reserve Economic Data, Federal Reserve Bank of St. Louis: Personal Saving Rate [PSAVERT] ; U.S. Department of Labor: Bureau of Labor Statistics; accessed August 14, 2010. (Photo credit: Wikipedia)
Have you ever been tempted to say, “Back when I was a kid”? Remember when you could buy 3 loaves of bread for a dollar? Now it’s 1 loaf for $3. Here is a great remember when app from the Bureau of Labor Statistics. You can pick a year and compare what a dollar amount was worth during 2 different years. For instance; a dollar in 1962 is now worth & $7.73 and $500 dollars in 1980 is now worth $1,417.45. This site has many other tools for discovering trends on the state of your state or the whole country. Check it out if you want to learn or support an opinion.
The Wisconsin Realtors Association has posted their report for June and it shows some phenomenal gains in the Wisconsin housing market. Check out the links below. It is rather inspirational. It looks like a great time to sell and with rising interest rates it is probably best to buy before rates get any higher. It looks like all of the fence sitters are getting of their fences.
MADISON, Wis. –Wisconsin existing home sales increased 3 percent in March, which is the 21st straight month of sales growth. Median prices grew 9.7 percent to $134,900 in March, compared to the same period last year, according to statistics released by the WRA. Sales during the first quarter were up 10.8 percent, and median prices rose 5 percent relative to the first quarter of 2012.
Thinking of moving up to a luxury home or down sizing your current luxury home? In Dane couty the market for high quality homes over $1,000,000, between 4,000 and 9,000 sq. ft. above grade, less than 30 years of age, not on Madison lakes, there is 30 months of inventory. Listings range from $1,150,000 to $2,999,900 with the medianlist price at $1,595,000 and the average list price is $1,595,000. The median sale price was $1,388,875 and the average sale price was $1,373,858. Property values in the area appear to be stable though sales have declined over the winter months and listings are increaseing. There is a 3% chance of selling a home in this market in the first month.
Property values in the Janesville area have stabilized over the last couple of years since the pull out of GM and a slow economy. There still is a downward trend in sale prices with a good supply of bank owned properties available in Janesville. In the neighborhood between Milton Avenue, Hwy 14, Hwy 90, and Hwy A the market 39% were bank owned sales and 24% of listings are bank owned. There is 8 months of inventory of homes in the subject market. Very competitively priced homes and discounted properties are selling the quickest. Current interest rates have minimized buydowns and concessions and most homes in the area sell with conventional financing. Market exposure time for the subject as derived from the MLS and historical data is estimated to be 3 to 6 months, with discounted homes selling quicker.
For 2 story homes over 55 years of age there is 7 months of inventory in the village of Albany. Sales range from $39,900 to $117,500 with 60% being bank owned properties. The average sale price is $67,080 and the median sale price is $50,000. The median list price is $80,750 and the average list price is $106,070 with listings ranging from $49,900 to $199,900. The odds of selling a house in the first month is 14%.