The Whitefish Bay Real Estate market is moving (as well as the entire North Shore)! This has been a very busy buying season so far this year. The pace picked up in home sales the second week in January and has not stopped going. Buyers are energized by incredible interest rates and lower home prices. It is all about value or perceived value. I have had very casual lookers jump back into the buying market full force. There is a new urgency that has been missing for the last few years. We have seen many situations where homes have had multiple offers, The Wall Street Journal had an article the other day about bidding wars in home purchasing. We are feeling it here on the ground as well. The last 3 sales I did had multiple offers from buyers. In two of the cases the homes had both been on the market for about 6 months. What is the change? Low rates are a big motivator, today the rates are 3.5 for a 30 year fixed mortgage and 2.5 for a 15 year mortgage. Sellers are not seeing an increase in price but, they are getting active buyers wanting to purchase. Last year (2011) in Whitefish Bay there was a total of 186 homes sold all year. As of today according to MLS there are 65 homes Sold or Pending and 31 Accepted Offers for a total of 96 homes already gone in the first 4 months. Over half of all last years sales. If you are currently on the market and not getting offers you need to drop your price. Each home has a sweet spot that buyers find is a great value and it gets an offer. If you started your house priced too high or out of the market you won’t get offers. The good news is that buyers are energized however, you still have to make your house the Best Buy among your competition. The same pricing tools still apply: condition, location and competition. This Saturday May 5th is Green Day in The Bay. This is sponsored by The Whitefish Bay Civic Foundation and held at Cahill Park. Check Out Green Day in the Bay 2012 on facebook or my favorite place for news in WFB, The Whitefish Bay Patch.
Whitefish Bay Homes Sold May 2011
| 4795 N. Idlewild | 2 beds/2 baths | 2 D garage | $157,000 |
| 615 E. Hampton | 2 beds/1 bath | 1.5 D garage | $175,000 |
| 4937 N. Idlewild | 3 beds/1 bath | 1.5 D garage | $184,445 |
| 4707 N. Elkhart | 3 beds/2 bath | 1.5 D garage | $210,000 |
| 5537 N. Shoreland | 4 beds/1.5 baths | 2.5 D garage | $200,000 |
| 4864 N. Santa Monica | 3 beds/2 baths | 2 D garage | $217,375 |
| 5430 N. Shoreland | 4 beds/ 2 baths | 2 D garage | $280,000 |
| 4641 N. Marlborough | 3 beds/2 baths | 2.5 D garage | $311,000 |
| 5975 N. Shoreland | 4 beds/2 baths | 2 D garage | $318,000 |
| 231 E. Lexington | 3 beds/2.5 baths | 2 A garage | $393,000 |
| 5243 N. Santa Monica | 3 beds/1.5 baths | 2.5 D garage | $390,000 |
| 1128 E. Sylvan | 3beds/1.5 baths | 1 D garage | $380,000 |
| 640 E. Carlisle | 4 beds/2.5 baths | 2.5 D garage | $495,000 |
| 725 E. Lake View | 4 beds/1.5 baths | 2.5 D garage | $495,000 |
| 5565 N. Santa Monica | 4 beds/2.5 Baths | 3 D garage | $492,000 |
| 6075 N. Bay Ridge | 4 beds/2.5 baths | 2 A garage | $569,000 |
| 4721 N. Cumberland | 4 beds/3 baths | 2 D garage | $670,000 |
17 closed properties in Whitefish Bay this May. As of today according to Multiple Listing Service there are 161 homes on the market in Whitefish Bay. 23 homes have accepted offers. The market is still moving right now. In past years we have seen a slow down during June and July.
Rates are still historically low and with 18 homes in The Bay are under 200k it is a great price for first timers to buy into town. Smaller homes are experiencing longer days on the market. These homes have to be in the best condition and priced the most aggressively to attract buyers with all of the competition. Mentioning FHA home loans can also attract buyers to your home. FHA only requires 3% down on government insured loans.
In just a few short weeks the Whitefish Bay 4th of July Celebration and Parade will be here. A highlight of the summer for many in town. New blog to come in a few days just on the summer activities right here in Whitefish Bay. Hopefully we will start to experience some proper summer weather (you know the kind with sun and warm air).
400 E. Hampton Ave, Whitefish Bay- NEW PRICE $269,900!
This Historical completely refinished Victorian is now only 269,900k. 3 Bedrooms, 2.5 baths and a Beautiful Eat in Kitchen. Every detail of this home is done to perfection. 2 car garage, mud room and a fenced in yard are all there for your convenience. This is one of the Best Values in Whitefish Bay. Take the virtual tour on this blog’s listings page and feel the flow of this stunning home. Once inside this warm historical charmer you won’t want to leave. Come and view this spacious home.
Eat in Kitchen full of charm!
The next Open House will be Sunday June 5th! Don’t miss it.
Whitefish Bay is full of fun things to do. Great schools and many places of worship. The Silver Spring Shopping District is full of fab boutiques as well as Sendik’s grocery, and the famous Winkies. Enjoy neighborhood block parties, The Great Pumpkin Festival and our annual 4th of July parade, party and fire works display. Call The Bay home.
North Shore Ranch a Must See! 7608 N. Bell, Fox Point
Cooks Kitchen
- Sun room/dinnette off of kitchen
A stunning kitchen with cherry cabinets, stainless steel appliances and granite counter tops is the heat of this surprising ranch. The kitchen leads to a dinette/sun room with tons of natural light and sliding glass doors to the large park like yard. Wood floors in living dining room with large picture windows. The benefit of two full bathrooms is aways a plus! Large recroom in lower level for kids and adults alike.
The yard features beautiful perennials and a blooming apple tree in the back. This is quiet living just minutes from downtown Milwaukee. Fox Point pool is close by as is The Wisconsin Athletic Club. This home is spacious and is in great condition. All of the amenities you want or need are right here. See all pictures under this blogs listing page. Just put your furniture down and move in.
If you would like a showing call Lora Brewster @ 414-750-1144.
Whitefish Bay Real Estate: Homes Sold April 2011
Family Room 5160 N. Kent For Sale, must see!
April proved to be a stronger month for home sales in Whitefish Bay. 16 closed sales, 10 sales pending. A pending sale means that all contingencies have been removed and the transaction is on the way to close. This streak is continuing in May as there are currently 19 accepted offers out of 136 homes on the market ( or unsold homes).
The last post focused on pricing your home to sell. As I went over the numbers below it was apparent that the main factors that dictate price as always stay the same. Since having knowledge of these listings such as the condition of the home, location and starting price it is clear that these things hold true.
Pricing your home correctly from the beginning is key. The truth of the matter is that the right product, position and price will always sell quickly. Days on the market greatly affects the price of your home. A full service Realtor is the person to turn too. Especially one that has knowledge of your market place.
When moving up to a larger home in a down market it is important to factor in that you will make less on your house just as you will pay less for your new home. It is a rare occasion that the opposite will happen. Feel free to post questions or email me.
| 4634 N. Hollywood | 1 bed/1 bath | No garage | $108,000. |
| 5232 N. Bay Ridge | 3 bed/1.5 bath | 2 D garage | $166,000. |
| 4715 N. Sheffield | 2 bed/1 bath | 1.5 D garage | $177,000. |
| 1003 E. Lancaster | 2 bed/1 bath | 1.5 A garage | $185,750. |
| 930 E. Meadow | 2 bed/1 bath | 2.5 D garage | $187,500. |
| 4844 N. Cumberland | 3 bed/1.5 bath | 1 D garage | $250,000. |
| 6068 N. Lydell | 4 bed/2 bath | 2.5 D garage | $287,500. |
| 5334 N. Kent | 3 Bed/1.5 bath | 2 D garage | $284,000. |
| 4940 N. Wildwood | 3bed/1.5 bath | 2.5 D garage | $296,000. |
| 5573 N. Hollywood | 3 bed/3bath | 2 D garage | $358,820. |
| 4811 N. Oakland | 3 bed/1.5 bath | 2.5 D garage | $380,000. |
| 5227 N. Hollywood | 3 bed/1.5 bath | 2 D garage | $405,000. |
| 5265 N. Santa Monica | 4 bed/3.5 bath | 2.5 D garage | $410,000. |
| 900 E. Silver Spring | 3 bed/2.5 bath | 2.5 A garage | $545,000. |
| 608 E. Carlisle | 5 bed/2.5 bath | 2.5 D garage | $647,100. |
| 902 E. Lexington | 4 bed/2.5bath | 2 A garage | $669,675. |
Great things are happening in Whitefish Bay. City Market is soon to open on Silver Spring. There are many great warm weather activities happening as well, May 21st is Run The Bay, and you can always catch an outdoor game of something. If you haven’t ever seen Rugby The WFB Berserkers are as tough as they come. Check them out on facebook.
Whitefish Bay Real Estate: PRICING YOUR HOME TO SELL
Rain Barrel Art Project put on by WFB Civic Foundation
With many unsold homes on the market in Whitefish Bay it is important to price your home just right from the start. There are many factors that affect price and some of them never change such as location, condition of the home, and curb appeal. As I am working with buyers these days their number one concern is value (getting a “fair price’). With that said it is very important to price your house with an “energy price”. An energy price is a price of perceived value to the buyer. You will know if your home is priced correctly right away if you are getting a lot of showings, if not it is priced too high. Your Realtor should look at your home and price it just under your closest comparable unsold properties. In Whitefish Bay we can use the standard Mikkelson Colonial as a great example: Where the home is located, what updates have been done, what is the condition of the home, these things should be looked at. This same floor plan sells for varying prices around the Bay each year due to the aforementioned factors.
It can be hard for you to be objective when selling your home, this is where a Realtor can help you. It is important to detach yourself from the feelings of your home and look at it as a commodity during the selling process. Some family photos and favorite pieces of furniture may have to be put away to stage your home for sale. Having a professional research the competition and position your home in the right pricing spot is key. A local agent or area expert will know the nuances of your market place and can help you to make an informed decision on price. It is important to remember that sold homes are not your competition it is the other unsold homes buyers are looking at that matter. A good rule of thumb is 20 showings or two weeks with no offers the price should be dropped. For everyday that your house is on the market the value goes down in the buyers eyes.
Our North Shore has seen a healthier market this year versus last year and it is not all bad news out there (despite what the national news says: as in politics, Real Estate is local). It is your goal when listing your home to get the most equity in the shortest amount of time. Pricing is 80% of marketing. A strong price, position and product will sell every time. There are quite a few pending sales out there. Things are looking up.
This past weekend in Whitefish Bay was another great one. Little League kicked off the season at Water Tower Park, and The WFB Womens Club had the Annual Rummage Sale. Last but, not least The WFB Civic Foundation hosted a successful Green Day Event featuring the Rain Barrel Street Art Project. Read all about it on www.whitefishbaypatch.com
As of today in Multiple Listing Service: Cumulative Days on Whitefish Bay Market for unsold homes is an average of 123 days, with a high of 566 days and a low of 3 days on the market. That is out of 124 homes for sale in The Bay!
Whitefish Bay Real Estate: 400 E. Hampton Rd. New Price.
Just a quick update on the beautiful Historic Victorian/Farmhouse located in Whitefish Bay. See Lora’s listings and take a video tour on this stunning home.
Now being offered at $284,900. Historical Elegance meets modern convenience. Move in ready, natural light, giant kitchen completely rebuilt over the last 15 years.
Must see to get the feel of this one of a kind home. Open Sunday May 1st, 1-3pm.
Your North Shore Home: Spring Sales or General Maintenance
Coming Soon To A Garden Near You
Well as we all know in Wisconsin we have been waiting for a true Spring. Here are some Spring cleaning tips whether you are selling your home or just maintaining it.
Many people dread spring cleaning but, it is the first step to freshening up your home. Get rid of clutter or items that you have not used in awhile (good rule of thumb don’t use it in a year let it go). Consider a garage sale, Craigslist or even eBay for some extra cash. Do this room by room so it doesn’t seem so daunting, and before you know it tada a clean home!
Check pipes for leaks or cracks. Be sure to turn off all water sources in your home and check for movement on your water meter.
As we have seen as of late with Spring comes rain. Clean out gutters and drainage paths to ensure water is draining properly. Regrade next to your foundation. A best practice for grading is one inch of earth per each foot that you grade away from your home. Example: Start at the foundation with 3 inches of packed soil for a foot then two, and so on down. This will prevent draining into your basement and lawn flooding.
Be Sure to clean the vents on your Air Conditioner and replace any filters as needed. This will help to eliminate potential allergens and pollens and will keep the whole family breathing better.
A great lawn starts with aerating your soil. This will allow the soil to distribute water and nutrients properly. Lawns need about one inch of watering a week. set your sprinklers for 3am to 7am to avoid evaporation. Moderately fertilize and have the greenest lawn on the block. There are organic fertilizers on the market now to keep the kids and pets safe.
Need a lawn service? Let me reccomend Tim’ Lawn Sevice. They do edging, trimming, cutting, and Fall and Spring clean up. Call Tim’s @ 414-534-4273 or email them @ tdflint@sbcglobal.net.
Most importantly if your home is currently on the market make sure you have new outdoor pictures taken. Snow pictures are a reminder that you have been on the market for a long Wisconsin Winter!
400 E. Hampton, Whitefish Bay Open House Sunday 4/17/11 1:30-3:00pm
Stop by this beautiful completely redone 1894 Victorian/Farmhouse. 3 Bedrooms, 2.5 baths, master suite. Gorgeous spacious kitchen, 2 car garage, mud porch, fenced yard.
Move in Condition. 8/3/2.5 – $299,900. Must visit to get the real feel of this one of a kind, historic home! Click on Lora’s Listings to see the video tour as a preview.
Enjoy your weekend.
North Shore Life Style Report 4/11 Thief Wine
One of the goals of this blog is to get buyers into Whitefish Bay and The North Shore. Today I am profiling Thief Wine 4512 N. Oakland Ave in Shorewood (just a block from The Bay). I plan to do a life style report once a month to keep you from getting bored with Real Estate issues. I do realize that those of you that are not Realtors may not share my enthusiasm to talk about it all the time.
I begrudginly met some friends there during a week night after work ( I was tired and just wanted to get home), my mood was changed within 2 minutes of being there. Yes the friends were great as friends are but, the bartender Chris was a delight. He asked what kind of wine we liked and then made suggestions for each one of us. Everyone was very happy with their selections. He described the different tastes in the wine and said to a gentleman that ordered a red of some kind. “It reminds me of eating a candy apple and then licking a stone”. They knew much more about wine than the rest of us because they agreed and laughed about it.
The other neat thing that we learned was that we could order from the full menu of North Star Bistro located in the same building next door. We did and it was fantastic as North Star always is. Total Bonus.!
When we finished eating we shopped in the wine shop, see this is not just a wine bar but also a wine shop. The cool thing is that you have an expert to help you choose your wines. They have a great selection and are very knowledgeable. Even better if you you like to venture into a new type of wine they have racks of bottles under 10 dollars. It is a must stop shop if you love wine. If you have been there please tell us about it!
If you would like to follow their blog here it is: www.thiefwine.com/blog
Thief Wine Shop
Do you have an idea for next month’s lifestyle blog? Send me an email or find me on my new Twitter account @LbrewWFB.
Just a little Real Estate: When you list your home with me you get a blog write up, a video tour of your home and the most comprehensive E-Marketing Promotion in the Industry.
Coldwell Banker is the Industry Leader in Web Based Marketing. This is an advantage to any home seller. Over 85% of home buyers start their search on the web.