WestEnd Milwaukee Real Estate

Real Estate Opportunities in Milwaukee, WI

dondeal — Sun, 27 Sep 2009 23:02:49 +0000

With affordable housing and acting as home to some of America’s largest companies, real estate in Milwaukee, WI may not be booming, but it is surviving.

This Lake Michigan metropolis boasts a low cost of living, great school system, numerous post-secondary institutions and magnificent cultural attractions like the Milwaukee Art Museum. If you’re considering purchasing Milwaukee real estate, keep reading for more information on housing prices, demographic breakdowns, and surrounding communities.

Housing Prices in Milwaukee

Real estate in Milwaukee, WI is definitely affordable. According to MLS, the median price for homes in early 2008 hovered around $150,000 and despite the national housing market downturn, home prices may not be appreciating, but they are holding steady.

The city also boasts a cost-of-living index of 87, meaning it costs about 13% less to live in Milwaukee when compared to the national average.

Milwaukee Demographics

The population of Milwaukee is just over 600,000. However, the entire metropolitan area encompasses approximately 1.79 million residents. The median income is about $36,000 and the median age is average at 32 years old.

Milwaukee is also known for its well educated populace, particularly when compared to the national average. The workforce is highly educated, with almost 85% of residents holding a high school diploma and close to 30% holding a bachelor’s degree.

The city is also home to a number of established universities and colleges like McGill University, Milwaukee School of Engineering, Milwaukee Institute of Art and Design, Marquette University and the University of Wisconsin-Milwaukee.

Unfortunately, Milwaukee is a highly segregated city. According to the 2000 census, 39.5% of respondents from Milwaukee indicated African-American ancestry. In turn, the city has the second highest black male unemployment rate in the United States at 43%. The city is continuing to attempt to reduce racial tensions and decrease pronounced segregation.

Communities in the Milwaukee Area

Real estate in Milwaukee, WI goes beyond the city proper and includes such areas, towns and communities as Brookfield, Elm Grove, New Berlin, Shorewood, Waukesha and Menomonee Falls.

Commercial Real Estate Values in Milwaukee

Rated as fifth in the country for the number of Fortune 500 companies who have their headquarters in the city, Milwaukee is a surprising powerhouse of economic and commercial opportunity.

Lease rates for Milwaukee commercial real estate hovers between $15 and $16 per square foot, with sales sitting at between $150 and $200 per square foot, depending on the area. Thanks to its prevalence as a manufacturing town, the warehouse and factory space market is particularly strong, while office space can typically be found for much cheaper than the national average.

Hiring a Milwaukee Home Real Estate Agent

admin — Sun, 19 Apr 2009 08:17:25 +0000

Despite the current climate of the real estate industry, Milwaukee is surprisingly holding up. It is not booming, but it is not going south either. In truth, if you would really take a look at the kind of community Milwaukee has, it is not really surprising that many people want to live in this area. In fact, this is not just a home to many families. Many companies have also taken advantage of the affordable real estate in this part of the country and have established their principal offices there. Fortunately, if you are thinking of settling here, you wouldn’t have any difficulty looking for a reliable Milwaukee home real estate agent.

Buying a Property in Milwaukee

So, what can you expect if you decide to settle your family in Milwaukee? Actually, there are many benefits to living in this part of Wisconsin. First of all, you can enjoy the low cost of living. It is lower by about 15% compared to the national cost of living average.

This metropolis offers good school system, so your children will not have any difficulty looking for a good school. There are also good universities and colleges around the area. This includes McGill University, Milwaukee Institute of Art and Design and the University of Wisconsin-Milwaukee.

How much would a property in Milwaukee cost you? Actually, it wouldn’t cost you a lot of money. The average price hovers around $150,000 to $200,000. Curiously, the prices are steady around this range despite the economic condition.

You definitely will love living in this area, but first, you need to find a good Milwaukee home real estate agent.

Choosing Your Real Estate Agent

Finding and hiring a great real estate agent can be a bit tricky. With so many agents offering their services, you just do not know who to trust. You may end up being ripped off by dishonest people. However, if you know what to look for in a Milwaukee home real estate agent, it can be easier for you.

There are four questions that you have to ask -

How long have you been in this business?
Can you give me at least three referrals?
What does your service include?
Will you be available at all times?
Is understanding a reverse mortgage difficult for you?

Determine your choice based from the answers to these questions. You have to get in touch with several agents before you make your choice. This way, you will have several choices. Buying a home is a big deal, so it is very important that you choose your Milwaukee home real estate agent well.

Real Estate Opportunities in Milwaukee

admin — Sun, 19 Apr 2009 08:17:02 +0000