Real Estate Update in and Around Milwaukee

January 20, 2011

Over the past few weeks I have seen an increase in the number of foreclosed properties, and substantial drop in list prices.  There are dozens of homes available in Milwaukee in the price range of $50,000 to $70,000.  There are also a number of homes in West Allis ranging from $60,000 to $90,000.  In Menomonee Falls a few homes are priced below $150,000. 

With interest rates holding below 5%, monthly mortgage payments on a $50,000 loan will be around $270 per month.  On a $100,000 loan about $540 per month.  Factor in taxes, and owning your own home may be less that what you are paying in rent.