Family Legacy Real Estate

June's Home Sales Report from the WRA doesn't show any signs of lightening up for low home inventory or interest rates staying in the 6's. Check out the report below for the full analysis.

Wisconsin REALTORS® Association: June 2023 Home Sales Report Inventories remained tight, which hampered sales and drove up prices in June.

Nothing better than a 5 Star Review! Ever want to visit Gatlinburg, TN be sure to check out Bird's Eye View Cabin for your stay. You won't be disappointed.

Another 5 Star Review from another happy guest! ⭐️⭐️⭐️⭐️⭐️ If you're looking to stay in Gatlinburg, TN you should definitely look us up or connect with us directly. We'd love for you to stay with us.

New Kenosha downtown development could start as soon as this fall.

"The plan calls for over 1,000 living units in several mid-rise buildings and one larger tower, along with condominiums on the eastern most block to complement the existing Harbor Park district. A central park and laneway would connect residential buildings with a market hall, food kiosk and retail space, according to a city release."

Check out the article below for more information.

UPDATED: Construction on major development plan for Downtown Kenosha could begin this fall Work on a major multi-year development plan that would fundamentally reshape Downtown Kenosha could begin this year.

Here is the March Home Sales Report from the WRA. Overall, same story just a different month. Check out below some of the highlights of the article. Full article in the link below:

- Existing home sales fell 23.6% between March 2022 and March 2023, whereas the median home price rose 6.9% to $272,500 over that 12-month period.

- Months of supply were at just 2.2 months in March, unchanged from a year earlier. The last time the Wisconsin housing market was balanced, with six months of supply, was August 2017.

- The strongest supply was seen in higher-priced homes, priced at $500,000 and over, where inventories stood at 4.2 months.

- Median prices rose 6.9% over the last 12 months, and the average monthly mortgage rate increased from 4.17% in March 2022 to 6.54% in March 2023.

Wisconsin REALTORS® Association: March 2023 Home Sales Report Weak inventories kept March home sales down and drove prices up.

Looking for a great spot to stay in Gatlinburg, TN...at a great DISCOUNT. Click on the direct booking link in the original post, check dates from now until the end of May, book your stay, and receive 15% discount on your nightly rate. BOOK TODAY!!!

Our slower period/season for renter occupancy is typically between the end of Easter break through the end of May. With that, we are offering 15%, off our nightly rate, of any direct booking stay at our Bird's Eye View Cabin NOW THROUGH THE END OF MAY.

Take a look at our direct booking link below for dates. Once you book we will apply the 15% discount right back to you, right away. You will love this time of year in Gatlinburg, TN. If you have any questions please don't hesitate to reach out. ☺️

birdseyeviewcabin.staydirectly.com

Great info in the article below. $150 Million for affordable housing in proposed budget from Gov. Evers & an additional $100 Million in low interest loans for new home owners through Wisconsin Housing & Economic Development Authority (WHEDA).

Housing access and affordability round table includes Gov. Evers, Mayor Mason, community leaders, residents of Racine | Racine County Eye RACINE — Gov. Tony Evers returned to the City of Racine for the second time in March, to show his support towards initiatives happening locally... now, housing.

Whether you are looking to invest in real estate, sell your home, or buy a home don't hesitate to reach out to Mitch Ferraro for any of your real estate needs.

Congratulations to Mitch and his buyer, who is purchasing a home for his in-laws can live closer to them.

Fun Fact: Mitch and his buyer initially bonded because his son is also named Mitchell. :)

If you're looking to buy or sell, please contact Mitch and Welcome Home Real Estate Group.

Southeastern Wisconsin continues to develop and expand. New expansion would get state help.

Milwaukee downtown pro soccer stadium would get $9.3 million under Gov. Evers' new budget plan. The Iron District stadium would house a professional soccer team that Kacmarcik Enterprises owner Jim Kacmarcik plans to bring to Milwaukee.

The first month of 2023 Home Sales Data is in. Things continue to trend the same way they have for the past year. Link below for full article. Here are some highlights:

- Wisconsin existing home sales fell 33.8% in January 2023 relative to January 2022
- Median price of homes that closed in January rose 8.5% over that same 12-month period to $250,000
- Home sales slid 30.1% in the fourth quarter of 2022 compared to that same quarter in 2021
- New listings are down 26.2% compared to January 2022, and total listings are 16.2% lower than their levels 12 months earlier
- Mortgage rates have remained relatively high in January 2023 at 6.27%. Note that this compares to a rate that averaged just 3.45% in January 2022

Wisconsin REALTORS® Association: January 2023 Home Sales Report High prices and low affordability hampered January home sales.

Great to see some educational programs for future homeowners who feel they may be discriminated against when it comes to home appraisals. Fair Housing Council (https://www.fairhousingwisconsin.com)

New education campaign helps Milwaukeeans fight home-appraisal discrimination The Metropolitan Milwaukee Fair Housing Council is helping residents identify and avoid appraisal discrimination.

If you are looking for a great get-away this vacation season, be sure to check out Bird's Eye View Cabin. They're starting to book up quickly, so don't miss your chance to stay at this beautiful cabin in Gatlinburg, TN.

Luxury Smoky MT View Cabin| Balconies| Hot Tub| Game Room This amazing & scenic cabin is perfect for any occasion. With five bedrooms, two lounges, a gourmet kitchen, ample outdoor space & parking, this home is made to

Check out the data from the WRA on the December 2022 Home Sales Report. We continue to see a decline in affordability & inventory.

But, the last quarter of 2022 was the slowest rate of home appreciation all year which could be a good sign for affordability in the future. With home appreciation slowing this is also helping slow the inflation rate. Are we turning a corner? Or will the spring market bring more pressure on housing? Check out the article link for more in-depth info.

Wisconsin REALTORS® Association: December 2022 Home Sales Report Housing market softens as both supply and demand weaken in 2022.

If you are ever looking for a great vacation rental in Gatlinburg, TN, you have to check out Bird's Eye View Cabin. Can accommodate up to 15 guests, Superhosts on AirBnB (over 70, 5 Star Reviews), and you can check pricing and book directly by visiting their website, https://birdseyeviewcabin.staydirectly.com/listing?a=559304688708200204

Here is another 5 Star Review from one of our most recent guests, Callie. She and her group loved the coziness of our cabin. Even with 15 people she still felt there was more than enough space to accommodate their large group. If you would like to stay with us please book directly at our website. We'd love to have you stay with us! https://birdseyeviewcabin.staydirectly.com/listing?a=559304688708200204

Makes sense as they just agreed to a $3.7 Billion settlement over consumer abuse.

Wells Fargo, once the No. 1 player in mortgages, is stepping back from the housing market It's the latest, and perhaps most significant, strategic shift that CEO Charlie Scharf has undertaken since joining Wells Fargo in late 2019.

If you've ever thought about investing in real estate or just wanted to start learning about real estate, in general, then you should join Southeastern Wisconsin Real Estate Investor Group. This group has close to 3,000 members that are either investing in real estate or looking to invest in SE Wisconsin.

There are monthly meetups in Kenosha and Racine which are geared towards networking and connecting with like minded individuals. It is a place to connect, ask questions, share information, and help one another in real estate endeavors. We’re positioned as an open resource with a giving approach. Come check it out!

As a real estate agent (with Welcome Home Real Estate Group) and real estate investor we can provide multiple options, multiple solutions, and we are with you 100% of the way during the entire transaction, helping you understand the entire process, no matter which route is best for you....the seller.

"All Mitch does is win, win, win no matter what..." for his clients, that is!

A great friend referred this homeowner to Mitch, which he is very grateful for. The homeowner was looking to sell and start a new chapter of her life, and she and Mitch created a plan together to make it happen on her timeline.

If you're looking to buy or sell, be sure to reach out to Mitch Ferraro and Welcome Home Real Estate Group.

November 2022 Wisconsin Home Sales Data is in from the WRA. Lots of good info in this month's report. Check out the link for the full article. Here are some of the highlights:

- November home sales slid 31.7% compared to November 2021.

- Year-to-date sales are down 12.9% compared to the January-through-November period in 2021, and the median price rose 10% to $265,000 over that same period. We need to remember that 2021 was a record year for home sales, so some cooling was expected.

- Total listings dropped 21.8% between November 2021 and November 2022, and new listings fell 22.1% over that period.

- There were just 2.3 months of available supply in November, down from 2.6 months a year earlier.

- Even with softer demand and hence fewer buyers, the weakness on the supply side has resulted in homes moving quickly. Over the past 12 months, average days on the market dropped 5.6% from 71 days in November 2021 to 67 months this past November.

Wisconsin REALTORS® Association: November 2022 Home Sales Report Declining affordability and tight inventories lead to slide in home sales.

2022 tax bills for Kenosha are headed your way. Check out the article to learn when you can expect to see them and how to pay.

Kenosha tax bills are in the mail; several ways to pay City of Kenosha 2022 tax bills have been mailed. Property owners may also download a copy of their tax bill at www.kenosha.org. Due to holiday dates this year, City Hall,

Check out this new lisitng in Kenosha, WI. Great price in a great area. Contact Mitch if you’d like to set up a showing.

NEW LISTING!! 🏡

Check out Mitch Ferraro's new listing in the established Forest Park neighborhood! This home is perfect for any owner-occupant or investor. It has over 1,000 SF, with 2 bedrooms, 1 bathroom, and a nice-sized living area and dining room.

List Price: $149,900

Interested? Reach out to Mitch directly for more information and/or a showing.

Check out the October 2022 Wisconsin Housing Report Data. Link below for full article. Here are some of the highlights:

- Existing home sales slid 28.1% compared to October 2021.

- Home sales fell in October by the largest margin all year.

- Over the past 12 months prices have increased 7.8% in the Southeast region of the state.

- Overall inventory levels are at the lowest level since the WRA began tracking inventory data at the end of 2009.

- 2.6 months of available housing supply in October. This is down from 3.1 months of supply a year earlier. This continues to help a strong seller advantage in the market.

- The Wisconsin Housing Affordability Index was 136 in October, which is a reduction of 32.3% in just 12 months.

Wisconsin REALTORS® Association: October 2022 Home Sales Report Rising mortgage rates and tight inventories limit home sales.

Always a great time helping spread the word about the United Way of Kenosha County. Such an amazing organization.

Amidst our busy week last week, we attended the Kenosha Area Chamber of Commerce Business 2 Business Expo. Board Members, Rob Moore (4D Business Group INC ) and Mitch Ferraro (Family Legacy Real Estate ), helped us talk to business owners who are interested in making an impact through United Way's newest giving initiatve: 365 Small Business Circle.

Learn how your small business can make a BIG impact: https://www.kenoshaunitedway.org/365-small-business-circle

WRA September 2022 Home Sales Report came out a couple of weeks ago. We are seeing a market shift right in front of our eyes. Here are a couple of highlights. Check out the article for more info:

- The number of closings slid 14.7% in September compared to that same month in 2021.

- The very low inventory levels continued to push home prices up, with the median price increasing 10.2% over the past 12 months to $270,000.

- Third quarter home sales were at the lowest level since 2014.

- For the second straight month, there were more monthly sales than new listings of homes. As a result, inventory levels continued to fall statewide.

- Mortgage rates continue to increase, surpassing the 6% mark for the first time since fall 2008.

Wisconsin REALTORS® Association: September 2022 Home Sales Report Tight inventory and lower affordability hurt home sales.