November 20, 2008

All markets are different. During the next few years, some housing markets will turn around faster than others. How do you know when your particular market has reached its bottom? If you wait until others pick over the great deals, you'll miss the bottom.

Keep a track of how many properties are listed from month to month. Once you start to see a reduction in inventory then that may mean that buyers are starting to buy. There could be two reasons whey inventory is reducing – overpriced homes may be taken off the market and sales volume could be picking up. You can find out this information from your local real estate agent.

Keep reading national and local newspapers. If your local media reporters are now starting to interview experts in your market and asking questions like, “Have we reached the bottom?” then that might be a sign that there may be a shift.

Talk to your friends and co-workers. How are they feeling about your local economy and housing prices? Are they more optimistic now than they were 3 months ago, or even last month?

Consumer confidence will be a big part in the housing market turning around.

Be on the lookout for mortgage interest rates stabilizing and mortgage companies start to ease lending restrictions.

One of the biggest indicators is when prices have stopped dropping. The secret is to buy before they start to inch back up again!

I’m not suggesting that you wait till the absolute bottom of your market to buy. You have to look at a home as a place to live, not an investment. Only you can determine what an affordable monthly payment is relative to the value of the home you are purchasing. There are individual homes for sale that can be bought at the bottom of your market, even if homes in general have not reached that mark.

Talk to a trusted real estate agent – we can help!

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Local Information for Janesville, WI

Latitude: 42.68411 -- Longitude: -89.016654

ZIP Codes for Janesville, Wisconsin	53545 53546 53547 53548
Area Code for Janesville, Wisconsin	608
Time zone for Janesville, Wisconsin	CST

Other Area Cities: Janesville, WI Beloit, WI

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Janesville operates its own bus system called JTS (Janesville Transit System), which also connects with Beloit. The Van Galder Bus Company operates a regional bus between Madison and either downtown Chicago or Chicago O'Hare Airport. The Janesville Gazette, owned by Bliss Communications, is one of two daily newspapers in Rock County, Wisconsin (the Beloit Daily News being the other), and serves a regional market stretching into Walworth County. Community Shoppers publishes the bi-weekly Janesville Messenger. Janesville has a public, internationally themed botanical garden, Rotary Gardens, that is open during the summer months to the public for free (donations accepted) and is home to numerous weddings and group gatherings. Traxler Park is home to the Rock Aqua Jays, a waterski team which has been U.S. national champion 15 times. -- Source: Wikipedia.com

Wisconsin 2000 Census Population Profile Map

	Janesville	Wisconsin	United States
Population	59,498	5,363,675	281,421,906
Median age	35.3	36	35.3
Median age for Male	34.1	35	34
Median age for Female	36.5	37.1	36.5
Households	23,894	2,084,544	105,480,101
Household population	58,577	5,207,717	273,643,273
Average household size	2.45	2.5	2.59
Families	15,743	1,386,815	71,787,347
Average family size	2.99	3.05	3.14
Housing units	25,083	2,321,144	115,904,641
Occupied units	23,894	2,084,544	105,480,101
Vacant units	1,189	236,600	10,424,540

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November 20, 2008

Local Information for Janesville, WI

Latitude: 42.68411 -- Longitude: -89.016654

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