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 River Falls, WI

Latitude: 44.858701 -- Longitude: -92.625097

ZIP Codes for River Falls, Wisconsin	54022
Area Code for River Falls, Wisconsin	715
Time zone for River Falls, Wisconsin	CST

Other Area Cities: River Falls, WI North Hudson, WI Hudson, WI

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River Falls is a city in Pierce and St. Croix counties in the U.S. state of Wisconsin. The population was 12,560 at the 2000 census. The city is located mostly within the Town of River Falls in Pierce County; only a small portion lies within the Town of Kinnickinnic in St. Croix County. River Falls is located 25 miles southeast of downtown St. Paul, Minnesota and is part of the Minneapolis/St. Paul Metropolitan Statistical Area, along with the rest of Pierce and St. Croix Counties. It was originally named "Greenwood" but this was changed, as another Greenwood, Wisconsin already existed. River Falls High School is the area's public high school. River Falls is also home to the University of Wisconsin-River Falls, and through 2009 the site of the summer camp of the Kansas City Chiefs. It is home to the 2005, 2007, 2008, and 2009 Marching Band State Champions in AAA division. -- Source: Wikipedia.com

Wisconsin 2000 Census Population Profile Map

	River Falls	Wisconsin	United States
Population	12,560	5,363,675	281,421,906
Median age	23.6	36	35.3
Median age for Male	24.5	35	34
Median age for Female	22.9	37.1	36.5
Households	4,269	2,084,544	105,480,101
Household population	10,413	5,207,717	273,643,273
Average household size	2.44	2.5	2.59
Families	2,337	1,386,815	71,787,347
Average family size	2.98	3.05	3.14
Housing units	4,345	2,321,144	115,904,641
Occupied units	4,269	2,084,544	105,480,101
Vacant units	76	236,600	10,424,540

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November 20, 2008

Local Information for River Falls, WI

Latitude: 44.858701 -- Longitude: -92.625097

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