Home sales increasing, some buyers paying more than asking price

By: Kevin Hurd Email
By: Kevin Hurd Email

EAU CLAIRE, Wis. (WEAU) -- "I've always lived in the country, I don't think I could make it in the city," said Kayla Siddons.

She is a recent first-time homebuyer and loves having a place to call her own. She has two acres of land to play with in Cadott with plans to expand.

"This is just a temporary house here, we're going to hopefully take it down in the next year or two and build behind in the open land," she said.

There are plenty of houses out there on the market. And right now, there has been some competition between buyers to get them. In the end, some have even paid more than asking price.

"To see it three or four times just in my own practice in a three month period is definitely encouraging," said Michael Paul, owner of Discount Realty Works.

He says we are seeing another trend as well.

"For the last 21 months we've had more sales than in that month a year ago," he said.

Call it "one year better than the last." Take the month of April, for example. In April of 2012, the Wisconsin Realtors Association says 5,370 homes were sold in the state. In April of 2013, that number went up to 5,765. He says we are not quite to a seller's market yet, but getting there.

"A seller's market is good because that means real estate values are high," he said.

And ultimately he says that keeps the values of neighboring homes high as well.

If you are a buyer, do not worry. There is some good news to share with you too when it comes to financing and availability.

"With interest rates being so low, we're seeing people who've never bought homes before," he said. "You know they buy the entry level homes and people who are moving up can sell their homes to them and it moves upward."

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