Whether you live in Oconomowoc, the general Lake Country Area or even in Waukesha County or another part of the country, here are the fantastic opportunities available when it comes to buying real estate.
Moving Up
The first opportunity is just plain "Moving Up." Let's say you own a $250,000 house you would need to sell to buy a larger $350,000 home. While it's true that in 2006 you might have sold your home for $260,000, you also would have paid $375,000 for your new house. So while in this market you may be losing $10,000 on your current home, you will be saving $25,000 on your new home, for a net gain of $15,000. Couple this with some astonishing interest rates, saving you even more money on your monthly payment and it's never been a better time to move up to the house of your dreams.
Lake Properties
Ever dream of owning a lake home as a second home or living on the water full time? Traditionally very few lake homes sell during the cold months and that will be true even more this winter in Wisconsin. Below are the statistics for lake homes sold this year in Waukesha County, Wisconsin. If you were the seller of a lake home, would these numbers give you much confidence in finding a buyer for your home?
Waukesha County, Wisconsin
Through 12/30/08
Lake Homes Sold YTD: 86
Lake Homes Currently on the Market: 207
Many sellers who continue to market their homes over the winter will be ready to deal! If this has been a dream of yours, contact me (or your local agent) for an overview of current lake homes and to find out the two best deals on your choice of lake today!
Investment Opportunities
Does building wealth through investment properties appeal to you? Investors are indicating that they feel that the real estate market is close to or at the bottom, by purchasing properties. There are a number of good foreclosure and short sale properties available. Investing in real estate is a fantastic way to build wealth outside of the stock market, if you are willing to put forth the time and money necessary. If you are interested in what it takes to be a real estate investor, call me today!
One Caveat: this doesn't mean that every house is going for pennies on the dollar or that most sellers will consider an offer for 25% less than their asking price. However, there are deals to be had and a great real estate agent can help you find them. Look for a future post to help you in choosing a great real estate agent.
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