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So true. I freeze every year in November when temps drop to 50 and 40s. And in February I find myself getting the mail in a T-shirt...

It feels this way, but the difference is not quite that big. Ask your family. The average mortgage rate in the early 80s was around 15% and homes were not exactly cheap either compared to the average income. Renting is not cheap anymore. Today a 250,000 starter home in Milwaukee with 10% down will cost about $1920 per month including taxes and insurance. If two people move in together that's still cheaper than renting two apartments, plus you are paying in your own pocket now

Glad to hear! Feel free to email me m.auerbach@kw.com

Hey Bob, sounds good. Brown Deer has been perking up and if they get the new Starbucks open this summer it will bring more attention to the area. But late summer is a great time. Do you want me to go ahead an open an MLS Portal for you? Email me m.auerbach@kw.com

Yes. A lot of people want to buy, but are sitting on the sidelines for that reason or waiting for better rates. A few make the jump every year because they are tired of waiting - and spending 24k in rent every year

Apologies the spelling. Phone and lack of editing, pre read people!

After the last 2 fed rate cuts mortgages went up, because the capital markets took it as a sign of weaker economy. The fed does not set mortgage rates, but the markets of course watch what the fed is doing

@@MarcusMKE We have: last CPI (Jan 15th) at 2.9% (Feds preferred band is sub 2%) NFP +256k in Dec vs Exp +160k (Huge gain) & the rate edged LOWER to 4.1% from 4.2% in Nov PCE INCREASED +0.1% MoM and +2.8% YoY So the labour market and inflationary indicators are moving in the opposite direction for more cuts. Next Fed decision is Jan 29th, take a look at CME's Fedwatch tool. CME also has a new Mortgage rate future which Im sure would be of interest. Either way Marcus, Cheers and best, always enjoy your reports (I live in Shorewood FYI, so a fellow local).

Hey!

​@@MarcusMKE do you have for sale house tell me

Most of them want to age in place. For some that means buying a smaller ranch home, so they complete with first time buyers, but cash / no inspection. Problem is that the buying generations are much bigger than the selling generations, that will not change any time soon

The major's project GrowingMKE could be a game changer. I made a video on this in the past and will update once they get to the legislative stage. Look it up!

Great! It really gives perspective when you see how slow some of these major parameters change. Interest rates can change quickly, but supply moves like a glacier..

That's a popular myth. It literally makes no difference if you put down 5% or 20%. Plug the numbers into an app and see what happens over 5 or 10 years

West Allis is it's own municipality and pretty engaged, maybe see if they have a townhall meeting and make a suggestion!

Welcome to West Allis! These things take time, but when you look at the change over the last 10 years, I am excited for whats next. Thanks for watching!

Yes, hepfully, we have to, for more than one reason: low density single family housing is requires a lot of infrastructure per capita, which is extremely cost-inefficient. But it will take a decade or two to really make a difference.

I’m looking into investing in Milwaukee. I’m new to rental income properties and I’d like to start there but I need a good real estate agent and management company that knows how to deal with out of state investors.

@@quincyjones5676 I think we can help with that, my team frequently works with OOS investors. You can look me up on BiggerPockets: I have been investing for over 15 years and know most of the PMs in Milwaukee. Do you want to email me at m.auerbach@kw.com?

That is correct!!

Thanks for the comment and the kind words! You probably know that 5% down will get you a conventional loan, even less FHA. Perhaps I should make a video about financing options...?

Actually, they don't care! A lot of people don't know this. The total property tax levy for Milwaukee 2024 is $317,696,575 and the property assessment only determines what everyone's share is on that amount. The overall increase will be 2% for 2025. Regardless what the market does. Fictitious example: if everyone's property value goes up 100%, no other shifts, everyone's taxes stay exactly the same. The news does a horrible job explaining this, you only hear about the people who's taxes went up (because their neighborhood moved up in value relative to others)

A good inspection for a duplex will be over $500 and thats why I think it is important before you make an offer on any property you should already know the big ticket issues, the inspection should only confirm what you already know from yourself / your agent. I assume you are looking for an investment?

Very important 😄

Yes, great point! Always check! Your monthly payment is actually Principal+Interest+Taxes+Insurance (PITI). Taxes and Insurance can change, they are usually about 15% of the total monthly payment. If your taxes go up, that also means your property value has gone up, which also means your net worth has gone up.

Gutes Ohr! Aus Oesterreich 🙂

Which part of it? I am not a big fan of selection by zip code, because they don't follow any ryme or reason when it comes to real estate, demographics or economics, meaning they often include neighborhoods that are quite different. I know in certain investor groups it is cool to talk about zip codes, but when you look into it, it does not make much sense. In this case, the south and east are generally better than the area around James Madison. Vacancy rate is super low all over the MKE metro area, so that's not really a good criteria to pick a specific location. The better question is who do you want to rent to? Who is your target demographic? And where do they want to live?

@ I focus primarly to rent to stable tenants, middle class. I was looking at this multifamily which is a 5 door 2/1 apartment 20 minutes away from downtown, neighborhood called Menomonee River Hills. Im from Miami Florida, activly looking to invest in Milwaukee. I appriciate if you mail me options I will really appriciate it! Multifamily my priority 🙏

@@kishelectronics hm, there is a 6 unit on 84th, but needs work. You should talk to Spencer! Email me at m.auerbach@kw.com - I'll connect you and Spencer can also set you up with MLS access

@@MarcusMKE just sent you the email 💯 Im up to the work up front.

Good ear, Austria actually. I used to work for a global company, they asked me to move to the US 17 years ago and took care of everything. I would have not attempted that on my own or without a job and a relocation package. Where are you located and what makes you want to move to the US?

Single is tough, it is arguably much easier with double income. You can buy a 250k home with 5% down ($12,500) and have a monthly payment of $2,107. For one person that is a lot, for two people to split is easier. If you have 20% $50k to put down, it's $1684. You can also buy a condo. The most important thing is that you get out from paying rent. 10 years of renting x $1500 is $180,000 and nothing to show for. If you'd have bought a house 10 years ago, you would have already paid off a good portion and gotten some appreciation..

hello neighbor ;-)

Thank you! Very different markets in the Pacific NW. Thinking about moving or watching just for fun?

​@@InvestMKE Yes, the tight market here has forced our hand to look for affordability elsewhere. Our friends in Sheboygan have got us interested in moving to Wisconsin!

@@seancampbell1344 we are discussing the same issue with our family across East and West coast as well. They all grew up here and the consensus is the following: some cities have one thing that is amazing: a beach, mountains, forests, the desert, or 72F mind temps all year round. Wisconsin has no such ONE thank that is just amazing (for example I miss mountains and skiing) but it good (at least okay) across the board in every single category we can think of. Without having one major downside, like hurricanes or crazy cost of living. Preferences differ and everyone has their own bias of course, but we travel quite a bit and decided will stay here and just travel in the worst part of the year, which in my opinion is February and March!

Cool! You guys have the best restaurants!!

Woah, you win the prize for longest distance so far. Are you thinking about moving to the US?

@@MarcusMKE yes I am thinking about it.

@@dirkbogarde7796 Big step, I moved here from Austria 15 years ago for my corporate job. Was supposed to be a 3 year assignment ;-)