Home prices down in Rock County, more houses selling
Podcast Episode
The real estate market in Janesville remains difficult, with shadow properties pulling down home prices. Kyle Geissler reports.
More houses are selling in Rock County, but the average sale price of those homes is tumbling further.
Rock Green Realtors Association President Jerry Morse says distressed properties are responsible for the falling sale prices. July figures from the Wisconsin Realtors' Association show the average price of a home sold in Rock County dropped 18 percent from July 2010.
Morse says more shadow properties are coming off the market and more non-distressed sellers are listing their homes.
The number of Rock County homes sold in July was up nearly 34 percent from a year ago.
While the figures show a tough real estate market in Janesville, Morse says statistics on communities like Beloit, Milton, and Edgerton are improving over last year.
Because there are a lot of homes for sale, Morse says buyers are looking at many homes and searching for a bargain.
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Aug 23, 2011 at 7:52 p.m.
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Our assessments are a joke. And the city of Lamesville will use any excuse they can come up with to tell you that your house is worth more than it really is just to get more taxes from you.
Aug 23, 2011 at 4:20 p.m.
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At this point, I have a difficult time believing that home prices now are higher than in 2002. I know I can't sell my house for what it went for in 2003. Thank goodness people can't get loans and there are plenty of renters out there, or we'd be in foreclosure too.
Aug 22, 2011 at 10:50 p.m.
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What Mr. Morse didn't mention is that though foreclosure inventory is being purchased and consequently removed from the market, there is plenty more where that came from. All you have to do is check the sheriff's site for upcoming & recent sales. Those properties will be the "new inventory" of the next few months.
Aug 22, 2011 at 6:45 p.m.
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I'm confused...
Aug 22, 2011 at 4:17 p.m.
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nem, don't I know you from somewhere?
Aug 22, 2011 at 4:04 p.m.
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The article doesn't compare assessed value to selling price. It just says that new buyers are spending less than they were a year ago.
Compared to 2002, when the last assesment was done, your house probably is worth more.
Aug 22, 2011 at 3:43 p.m.
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We were told they were worth more because they wanted us to pay for the tax bill/assessment.
Aug 22, 2011 at 3:01 p.m.
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I thought our homes were worth more? Isn't that what we were just told a month ago?
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