October 08, 2010

City of Lake Geneva, Wisconsin, Stats for 2010 vs 2009

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Does it feel like we are picking up steam for 2010? I thought so too, with 79 transactions for the year, but the numbers I pulled for the City of Lake Geneva tell me that it is still a buyer’s market. The average sale price is at $225,970 for the year (down from $229,725 in 2009), and the average seller is at 84% of list to sales price (2009 was at 93%).

What do those numbers mean to me as a seller? You should read it as a warning about overpricing your home to start with. Buyers are looking for an exceptional discount. Purchasers are negotiating to get it, or that prospect will be moving on! If you are not in a position to discount your price to a saleable level – call to talk about some creative options.

How should I interpret this information as a buyer? Couple the numbers with what you are already seeing in interest rates for a 30 year fixed mortgage, and you should be able to see it as a great return on your investment! Average home sale price in Lake Geneva was $252,646 in 2004 at significantly higher interest rates. Seize this window of opportunity – you can buy more house for less money!

Posted by:  Stacey Schultz

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