House pricing help (Sheboygan: foreclosure, calculation, zip code)

[looking4change]

Hi,
We are in the market for a home in Sheboygan but pricing seems to be all over the place. We are coming from an area where homes are generally so many dollars per sq ft according to location. Can anyone tell me what the rule of thumb is in this area? Or Wisconsin in general. I can't seem to locate comparable homes that have sold.
Thanks in advance!

[trmpd]

Originally Posted by looking4change

Hi,
We are in the market for a home in Sheboygan but pricing seems to be all over the place. We are coming from an area where homes are generally so many dollars per sq ft according to location. Can anyone tell me what the rule of thumb is in this area? Or Wisconsin in general. I can't seem to locate comparable homes that have sold.
Thanks in advance!

Look at sold homes in the past 1 year to figure out this number. It varies significantly from city to city, so best to do your own calculations.

[looking4change]

Thank you!
The realtor has told us nothing has sold this year in the '7 block' radius. Not sure if that means those are the comparables? Have housing prices not dropped much in the last year in Wisconsin like everywhere else?

[hankejp]

I tihnk much of Wisconsin has spared the foreclosure cirsis with exception to the larger cities. This is not to say forclosure has gone up everywhere, just not as bad. Maybe check out a 5 mile radius.

[trmpd]

Originally Posted by looking4change

Thank you!
The realtor has told us nothing has sold this year in the '7 block' radius. Not sure if that means those are the comparables? Have housing prices not dropped much in the last year in Wisconsin like everywhere else?

I would broaden the radius to look at some general comps. Also, go to Trulia.com - they have price trends by suburb and by zip code. Lots of information out there.

Let me know if you need help - am doing the same thing for my house. Most realtors are not sophisticated enough to do analytics - you can do better than them.