Market Trends. The State of the Market A letter from Joseph A. Horning, President of Shorewest, REALTORS

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1 Market Trends Wisconsin s Largest Home Seller shorewest.com The State of the Market A letter from Joseph A. Horning, President of Shorewest, REALTORS Entering the second quarter of the year, we are in the midst of a very active, tight inventory spring market. Home sales in Southeastern Wisconsin are up 3.9% and prices are rising as well. However the seasonally adjusted 4.4 months supply of homes for sale is down from the low 5.5 month of March 2016 and is causing a pent up demand among buyers. Low inventory combined with low interest rates puts us in a strong seller s market. Interestingly, housing still remains affordable, this is why buyers are out in droves looking to upsize or downsize their homes. While homes are selling quickly, it is key to have a real estate professional helping you every step of the way. When selling, a REALTOR can often negotiate a better price and help it get to closing. In addition our 950+ Shorewest sales associates network homes that will be listed soon often matching buyers and home before they hit the market. Our highly experienced and dedicated employees and sales associates once again voted Shorewest, REALTORS as being a Top Real Estate Workplace for the sixth year in a row! The Shorewest family of companies is celebrating this wonderful accomplishment and is extremely grateful to receive this award. We are fortunate to have such a talented and passionate team. Every person in the Shorewest, REALTORS family of companies is focused on delivering the highest level of service to our clients. When it is time to make a move locally or anywhere in the world we appreciate the opportunity to serve as your trusted advisor. Serious About Buying a Home? Get Pre-Approved! Right now we are in the midst of a serious sellers market. What this entails is that there are more buyers in the market than homes available to buy. Freddie Mac explains the advantages of pre-approval on their website, It s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence in competitive markets. Shorewest has an in-house family company, Wisconsin Mortgage Corporation that can help you with the lending process. Your Wisconsin Mortgage Loan Officer will be willing to spend time discussing your home purchase goals. Developing a plan and issuing a pre-approval go hand in hand. Your pre-approval should reflect the plan you have discussed with your loan officer. They will take the time to research and find the right loan that will fit you and your needs. If you are looking to buy a home, you ll want to be ready with a pre-approval. Talk to your Shorewest, REALTOR today if you are ready to start your home buying journey!

2 President Joe Horning Named Chairman of the Leading Real Estate Companies of the World Board Joe Horning, President of Shorewest, REALTORS, has been elected to a two-year term as Chairman of the Leading Real Estate Companies of the World. Horning will provide member input and feedback into LeadingRE programs, operations and business plans. Shorewest, REALTORS would also like to congratulate our President as the youngest Chairman in the history of the Leading Real Estate Companies of the World. It s an incredible honor to serve as Chairman of the LeadingRE board, working alongside some of the best brokers in the business on behalf of all of our member companies worldwide, says Horning. I look forward to building on the exceptional offerings we have to support our members in all areas of their operations. We are so fortunate to have Joe move into the role of Chairman, says LeadingRE President/CEO Pam O Connor. His passion for the industry, his focus on innovation and his deliberate approach to business will be incredibly valuable to us as we continue to expand the ways in which we support our members success. Horning is also the recipient of the Chairman s Award, a top individual award from Leading Real Estate Companies of the World, a selective global community of the highest quality independent real estate firms. The award was presented during the Leading Real Estate Companies of the World (LeadingRE) Conference Week, a series of events that drew an impressive audience of 2,000 real estate professionals from 25 countries. The Chairman s Award is part of the service recognition program, which formally acknowledges contributions such as committee involvement, presentations at network conferences, and service on various advisory councils and boards. The program offers three prestigious levels of awards based on cumulative points earned through service activities. To a great extent, the success of our network is the result of the generous contributions of our members, who so generously share their time and expertise in support of their follow members and overall organization, O Connor said. It is a tremendous honor to recognize these talented professionals who have earned Member Achievement Awards and celebrate their commitment to our global community. Shorewest, REALTORS is Wisconsin s Largest Home Seller and a representative of LeadingRE. With a global membership that spans six continents, LeadingRE connects more than 550 firms and 130,000 sales associates who produce over 1.2 million real estate transactions each year. As a member of LeadingRE, Shorewest, REALTORS provides a quality real estate experience, global marketing reach and access to top real estate professionals in virtually any market worldwide. Rental Car Insurance, Is It Necessary? At vacation time, do you dread approaching the rental car counter because you re unsure about whether or not to purchase the waiver/ supplemental insurance? A seemingly simple decision can become overwhelming as you consider conflicting advice from credit card companies, the warnings of rental counter personnel and a simple lack of awareness on what coverage, if any, is already available under your personal auto policy. Let us suggest a better approach gather the necessary information to make a great decision before you leave on your trip. First, decide what type of vehicle will best fit your vacation needs. Then, check with the rental car company to determine your contractual responsibilities under the rental car contract. (HINT: Their website is a great place to start.) Next, talk to your insurance agent about what coverages would be provided for the vehicle you want to rent under your current personal auto insurance, being sure to discuss any applicable deductibles and coverage limits. Also, discuss how your policy will respond if the rental car contract requires payment of expenses that typically are not included or are limited if the claim were to happen to your own vehicle rather than the rental. Some examples include: Indirect losses, such as diminution of value (even if the rental car is fully repaired, the rental company may argue that the vehicle may have lower resale value due to having been in an accident) Administrative fees, such as towing or storage Loss of use charges for time the rental car is out of service due to repairs Only after gathering additional information can you make the well informed decision on whether or not purchasing further coverage is necessary. At Shorewest Insurance we are committed to making sure that our clients are covered for life, auto, home or recreational vehicles. Contact us today at !

3 The Best Time to Sell Your Home? Now! The Best Company to Sell Your Home? Shorewest! Demand for housing has remained strong as mortgage rates have remained near historic lows in The first quarter was sensational for the housing market as robust sales activity continued from the previous year. Sellers should know that the housing market is no longer a waiting game; the time to sell is now and the company to sell with is Shorewest, REALTORS! Shorewest s newly remodeled site shorewest.com is the most visited Wisconsin real estate site hands down! The site displays the most accurate and comprehensive inventory of homes for sale including all area real estate company listings, not to mention the area-wide open house search capability. The revamped website provides quick and easy access to additional detailed property information, including market data, demographics and previous sales information. Plus listing with Shorewest gets you more photos at a higher quality, and an attention getting headline, helping your home stand out from the rest. It is the most accurate source for real estate searching. Head to shorewest.com to use our home value tools to see how your home compares to the market. The home value estimator on the home page lets users find a computerized estimate of a home s potential value, property details, sales history, comparable sales, local market snapshot and sold market trends. Shorewest, REALTORS is a full-service broker, from listing through closing and beyond. We outsell our competition hands down with world-class service from Wisconsin Mortgage Corporation, Heritage Title Services Inc., Shorewest Insurance, Closing Services and so much more! We have the most experienced sales associates in the industry who are skilled negotiators to maximize your investment, better pricing, faster sale of your home and will negotiate and handle all of the paperwork. Selling your home right now is a good idea and selling your home with Shorewest is an even better one! Homeowners who are willing to sell now will get the best price for their home and a large group of buyers for the best exposure. Waiting could mean higher mortgage rates or a tricky market which would make a home sale more difficult. If you were thinking of selling your home, talk to your Shorewest, REALTOR today to evaluate the opportunities in your market! In the meantime make sure to check out shorewest.com for the best and latest properties available! Thinking of Buying a Home? Think Luxury! Our current housing market is constrained by a low supply of homes for sale, the luxury market is seeing an upswing in inventory and less buyer competition. This is great news for anyone with a home to sell and looking to upgrade! The sale of your previous home will help tremendously with your new down payment on a larger home. Buyers are competing for homes right now in lower price ranges. This in turn will give you a great price when selling your home. Shorewest, REALTORS specializes in the luxury market, selling more homes over $500,000 than any other firm. As a founding member of the Leading Real Estate Companies of the World, Shorewest is a part of Luxury Portfolio, which features the most comprehensive marketing program and network of luxury-tier properties throughout the world. This drives more buyers from around the globe to view our luxury listings. In 2016 the top five countries of buyers looking at Shorewest s luxury listings were: Germany, Italy, England, France and Korea in that order. Upgrading to the next level means that you should have a professional on your side. Talk to your Shorewest, REALTOR today!

4 Property Management Tips from My Dwelling: Spring Cleaning and Maintenance Now is the time for spring-cleaning. A yearly tradition for most Americans that involves, un -hibernating, breaking up with the television, and swinging from our chandeliers with a toothbrush in one hand and scrubbing bubbles in the other. But, in an effort to stop you from engaging in such dangerous activities, we ve asked Lisa Rollins, My Dwelling s director of property management, for her top FIVE tips to help guide us in making the spring-cleaning process seamless. Fire alarm 1. Clean or replace furnace filters! Dirty filters can lower the efficiency of your HVAC system. 2. Test smoke alarms and carbon monoxide detectors! Replace batteries and dust covers. 3. Test your air conditioning system! If you wait until the first hot day of the season to test it and find a problem, you ll most likely be waiting a while to have it serviced. 4. Clean windows! Wash your windows and replace torn or damaged screens. 5. Landscape clean-up! Healthy soils, fertilizing, watering and mowing practices will help you achieve this. Spring lawn care is designed to encourage maximum root volume and depth to prepare the grass for summer heat and drought. Make sure your lawn is in tip-top shape for spring, here are some helpful tips: 1. Wait until the soil dries out before you start working in your yard. 2. Sharpen your lawn mower blades and change the oil. 3. Have your soil tested if it has been more than three years 4. Mow low to remove the dead grass tops. 5. Aerate your lawn if it didn t get done in the fall. 6. Over-seed bare spots. 7. Apply crabgrass preventer (pre-emergence) around Easter. 8. Apply light nitrogen fertilizer around Memorial Day. 9. Water your lawn in late spring/early summer. Taking the time now to prepare your home and yard for the warmer weather will allow you to enjoy the outdoors, and focus less on household fixes and repairs. Learn more about Shorewest s My Dwelling s property management division Home & Condo Management by checking out

5 Market Statistics Learn what s happening in your market area by clicking on the county link. You ll find helpful information, including a year-to-year and quarter comparisons of new listings, closed sales, median sales price, active listings and months of inventory. MILWAUKEE COUNTY 1Q ,199 3,199 1,651 1,651 $135,000 3, ,196 3, ,566 $124,000 3, WAUKESHA COUNTY 1Q ,746 1, $248,000 1, ,912 1, $235,000 2, OZAUKEE COUNTY 1Q $241, $235, WASHINGTON COUNTY 1Q $198, $195, KENOSHA COUNTY 1Q $143, $136, RACINE COUNTY 1Q $120, $138,000 1, WALWORTH COUNTY 1Q $165,000 1, $160,000 1, JEFFERSON COUNTY 1Q $167, $150, DODGE COUNTY 1Q $129, $138, ROCK COUNTY 1Q $131, $125, BROWN COUNTY 1Q $151,775 1, ,059 1, $142,450 1, SHEBOYGAN COUNTY 1Q $134, $124,