November 20, 2008

It's getting to be more and more difficult to find good news on TV. Reporters seem to be reveling in stirring up as much "doom and gloom" news as they can – after all it's been proven that bad news sells better than good. Our addiction to news tickers and 24 hour coverage was solidified during horrific news events of the last decade. But there IS positive news to be found if you dig hard enough.

28 Metropolitan areas showed increases in median existing single-family home prices from the same quarter in 2007. Areas such as Elmira NY, Tulsa OK, Wichita KS and Urbana IL.

But even in areas where average home sales have dropped drastically, there is good news. Buyers who have been shut out of the home ownership market, are now finding that they can afford to buy. And they ARE buying. Three states where the ‘housing bubble' has burst are seeing some of the highest increases in sales. The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent. These areas have seen some of the strongest sales gains with some reports of multiple bidding.

And there's also good news for sellers. The typical seller purchased their home six years ago and is still experiencing net equity gains, even in today's depressed markets. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

So while we are definitely in turbulent economic times, there is GOOD NEWS to be found if you look for it. Hopefully, some home buying incentives will be passed soon to stimulate even more home ownership. Lawrence Yun, the chief economist at the National Association of Realtors, said that, "A pattern of sharply higher sales in areas with large price declines is well established," Yun said. "Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it's important for government to keep that in the forefront of stimulus decisions."

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Local Information for Sauk City, WI

Latitude: 43.27413 -- Longitude: -89.72831

ZIP Codes for Sauk City, Wisconsin	53583
Area Code for Sauk City, Wisconsin	608
Time zone for Sauk City, Wisconsin	CST

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Sauk City is a village in Sauk County, Wisconsin, United States. The population was 3,109 at the 2000 census. It was founded by Agoston Haraszthy and his business partner, Robert Bryant. The city is adjacent to Prairie du Sac; together, these twin cities are referred to as Sauk Prairie. As of the census of 2000, there were 3,109 residents, 1,285 households, and 796 families residing in the village. The population density was 2,078.0 people per square mile (800.3/km²). There were 1,314 housing units at an average density of 878.3/sq mi (338.2/km²). The racial makeup of the village was 97.01% White, 0.39% African American, 0.23% Native American, 0.19% Asian, 1.45% from other races, and 0.74% from two or more races. Hispanic or Latino of any race were 3.76% of the population. -- Source: Wikipedia.com

Wisconsin 2000 Census Population Profile Map

	Sauk City	Wisconsin	United States
Population	3,109	5,363,675	281,421,906
Median age	38.4	36	35.3
Median age for Male	37.1	35	34
Median age for Female	39.7	37.1	36.5
Households	1,285	2,084,544	105,480,101
Household population	2,991	5,207,717	273,643,273
Average household size	2.33	2.5	2.59
Families	797	1,386,815	71,787,347
Average family size	2.99	3.05	3.14
Housing units	1,314	2,321,144	115,904,641
Occupied units	1,285	2,084,544	105,480,101
Vacant units	29	236,600	10,424,540

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November 20, 2008

Local Information for Sauk City, WI

Latitude: 43.27413 -- Longitude: -89.72831

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