New Home Builders and Milwaukee Area (Wauwatosa, Menomonee Falls: foreclosures, neighborhoods, purchase)

[hoosiermommy]

We are relocating from Austin Texas to the Milwaukee area in October. We would like to purchase a new home within a reasonable commute time to Mequon. Are there any home builders you could recommend or stay away from? Also, do homes tend to appreciate in the area?

[EnjoyEP]

Originally Posted by hoosiermommy

We are relocating from Austin Texas to the Milwaukee area in October. We would like to purchase a new home within a reasonable commute time to Mequon. Are there any home builders you could recommend or stay away from? Also, do homes tend to appreciate in the area?

Home builders - There aren't any especially that I am aware of offhand that have a really bad or negative rep here. Belinski is a popular one that went through rougher patches in the 70s and 80s but now has a pretty good rep, I would probably suggest them. Miracle homes is another that is pretty good I believe. Again though, there aren't many up here that I think jump out as "no, absolutly you should stay away from them."

Appreciate - Well, Milwaukee metro has been impacted similarly to the national trend of a greatly slowed market. Foreclosures are up, re-sale inventory is up, and re-sale prices are down. So houses certainly are not appreciating here like they were in 04, 05, etc.

However, having said that, in terms of appreciation, Milwaukee metro overall hasn't been hit nearly as hard in terms of relative non-apprecation percentage like some other markets. Prices have held relatively steady, which is a great sign in a dank market.

Milwaukee metro also is very dependant on where your house is (eg: what area / community) for appreciation amounts. This is true of most any market I suppose, but very true in Milwaukee metro. Ozaukee County (eg: Mequon area) where it sounds like you are looking? You'll have still relatively good, steady appreciation in general. Same is true of Washington County (also near Mequon).

[hoosiermommy]

Thanks so much. We haven't gone on any house hunting trips yet, but are planning to in the next few weeks. We were able to find a few neighborhoods online that have some building going on in Grafton and Port Washington. I researched the schools and they appear to be good. Any opinions on the two cities?

[EnjoyEP]

Originally Posted by hoosiermommy

Thanks so much. We haven't gone on any house hunting trips yet, but are planning to in the next few weeks. We were able to find a few neighborhoods online that have some building going on in Grafton and Port Washington. I researched the schools and they appear to be good. Any opinions on the two cities?

Both are pretty nice...both are quiet, very seperated from the more inner-ring metro Milwaukee core.

Port Washington is almost its own seperate little community - it is so far north of most of metro Milwaukee. One thing...it is a very COOL (I am talking weather-wise) community - springs literally may not start until late May there...it is right on Lake Michigan. When it is 65 degrees in say Menomonee Falls or Oconomowoc, it may only be 48 degrees in the Port...one of the cooler weather cities in this area.

Other than that though, Port is a nice little quiet, safe community. It is quite scenic because it is right on Lake Michigan. Houses are a bit more reasonable and affordable there than in many other Milwaukee suburbs. I probably wouldn't live there only because of a) the distance from Downtown Milwaukee, and being near "the city" is personally important to me, and b) the huge cooler-by-the-lake affect in the city...winters are long here, so I want springs to come as early as possible and falls to start as late as possible.

However, beyond that, Port is really nice.

Grafton is closer to Downtown Milwaukee. It is quite scenic and nice, as it is right near Lake Michigan and it has really nice areas with the Milwaukee River running right through it. It is a growing community that is safe, quiet, and nice, and there is quite a bit of new commercial development currently going on there. It kind of has the same weather effects that Port Washington does (although not quite as much), but beyond that, it is a really nice place. A bit more pricey than Port, but probably for a reason.

Between 'em, I would pick Grafton, but they are both pretty nice.

[hoosiermommy]

Wow! Thanks for the point about the cooler temps in the areas. I would have never guessed the temperature difference would have been that drastic. Good to know and definitely something to consider. Thanks again for the info.

[EnjoyEP]

Originally Posted by hoosiermommy

Wow! Thanks for the point about the cooler temps in the areas. I would have never guessed the temperature difference would have been that drastic. Good to know and definitely something to consider. Thanks again for the info.

Yeah, the temp differences are most considerable for about 4 weeks around springtime especially, and a little bit toward the tail end of fall as well. Lake Michigan has a big-time cooling effect, especially farther north like Grafton is, but then even moreso like Port Washington is.

This is a cool-weather area, obviously, but when it does get warm and nice, it is just kind of disappointing when you see a more inland town like Menomonee Falls or Wauwatosa clocking in at say - 67 degrees - on a nice April day, and you get to Port Washington and it is 52 chilly, windy degrees! But then again, you can't find a nicer temp in the summer than in Port W.!