I recently had a client write an aggressive 18-day closing with a $60,000 appraisal gap, and lose to a cash offer. I have four other clients submitting offers this weekend using the Fairway Cash Guarantee (they are waiving financing contingency altogether, because Fairway is offering to pay cash for the house if we can't close on time), here's how the official cash guarantee contract looks. To qualify for this program, just email me, you need to be fully underwritten and approved prior to using this program. Then our legal department signs the contract so you're ready to attach the secondary offer to purchase. 

There are plenty of buyers that want to join this crazy market! We helped over 100 families obtain preapprovals from March 1, 2023 through today, and people are finding it's a very competitive market, even with high rates. 

To be clear, according to basic economics, it's not supposed to be like this. High rates are supposed to make enough people hit the pause button to take a break. That is supposed to level the market so sellers are more willing to negotiate. But, we have been seeing declining inventory in Wisconsin the last 5 years, with no end in sight! 

This speaks to the strength of the housing market for years to come. Supply and demand dictates that property values will continue to rise because it's a sad game of musical chairs, there are 4 buyers for every one listing available. When the music stops, there are not currently enough houses available. According to the Greater Milwaukee Association of Realtors, we would need 4,340 more homes available for sale just to arrive at a balanced market!

I want to be really clear about something, most news headlines you see about housing are based on the nationwide market, which has shocking outliers. This will make the housing market seem like doom and gloom. In Wisconsin, and specifically Milwaukee, it is NOT doom and gloom. 

Some of the hotspot cities have seen meteoric rises (20%+ per year) and collapses (-10%+) since June 2021. This is not the case in Wisconsin. We are a "steady-eddy". In fact, we just had a 5.7% INCREASE in prices in the 3rd quarter of 2023, compared to this time last year, according to the Greater Milwaukee Association of Realtors.



Many news outlets are focusing on the select hot markets where prices rose exponentially fast and fell just as quickly. Tune that junk out! 

As always, any questions? let me know! 414-488-0438.