Wisconsin Real Estate Law

Wisconsin Reporting a Strong and Growing Real Estate Market

by Keith Adkins | February 20th, 2014

A strong real estate market is a sign of a strong economy. And while much of the United States is struggling to recover from a recession, Wisconsin is seeing signs of economic improvement through increasing real estate sales over the past year.

The Wisconsin Realtors Association recently reported that both sales and prices for homes and property in the state were strong in 2013, with a 10.8 percent rise in sales over the previous year. The average price of Wisconsin homes on the market also rose to $143,000, which was a 7.2 percent increase form 2012’s number.

One of the reasons being cited for the market’s turnaround in the state is a dramatic decrease in the number of home foreclosures. Residences being repossessed declined from 22,852 foreclosures being reported in 2012 to 15,563 last year. This was an almost 32 percent decrease in homes being taken by banks due to delinquent mortgage payments.

Numbers are continuing to improve into the 2014 as well, with Milwaukee-Wisconsin Journal Sentinel reporting building permits for new home construction increased this past January when compared to the number from the same month the previous year.

The Wisconsin Real Estate Lawyers with Sigman, Janssen, Stack, Sewall & Pitz recognize how confusing the laws surrounding a real estate transaction can be for those who are not in the industry. That is why the firm suggests anyone seeking to purchase property discuss the transaction with a reputable attorney.

Beware, New Scam Targeting Wisconsinites

by sjs | February 14th, 2014

From the Milwaukee Journal:

Deed Scam Tricks New Homeowners Into Buying Useless Documents

Scammers doing business under multiple names — including Record Transfer Services — are soliciting consumers nationwide who conducted recent real estate transactions.

The company tries to trick people into paying more than $80 for useless property records, including deeds that they can get for a few bucks from their county government.

Among the victims of the deed scam are new homeowners in Wisconsin. They are deceived by Record Transfer Services’ formal-looking letter, which looks like a government bill and asks for an $83 “document fee” for a deed and “real property records” by a certain deadline.

The letter says to send money to Record Transfer Services — or one of its aliases, Property Transfer Services, Conveyance Transfer Services, Record Retrieval Department and National Deed Service — at an address in South Dakota, Delaware, California or Michigan.

 

Read the entire article HERE.

New Law Gives More Power to Landlords in Wisconsin

by Keith Adkins | January 2nd, 2014

Renting properties in Wisconsin can be an lucrative business, but disputes with tenants can sometimes become battles that depend on the law to be settled. But the Appleton Real Estate Lawyers with Sigman, Janssen, Stack, Sewall & Pitz explain that a new state law may give landlords more leverage in rental disputes.

An article from AOL Real Estate claims Governor Scott Walker recently signed a bill that will allow a landlord to evict a tenant if a crime occurs on a property and the tenant was in a position to prevent the crime. Furthermore, the law gives a landlord the right to immediately remove property and vehicles abandoned on the property by the evicted tenant.

Those in favor of the law say it allows landowners to better protect their property, while those who opposed the reforms say the new bill only limits a tenant’s rights and prevents local governments from establishing proper control of properties within their jurisdictions.

The law firm’s team of Appleton Personal Injury Lawyers is aware of how complex the laws surrounding owning or renting a property can be. That is why they suggest discussing your legal rights with an attorney if you find yourself in a dispute with a tenant or landowner.

 

Governor Walker Proposes Changes to Wisconsin Real Estate Law

by Keith Adkins | April 4th, 2013

April 4, 2013

Lawmakers are considering a change to Wisconsin Real Estate Law that would allow foreign investors to purchase larger pieces of land in the state. An article from The Badger Herald discussed both sides of the controversy and the effects a decision in the matter could have on the state’s economy.

Current law states that foreign entities may only own a total of 640 acres of land in Wisconsin. This includes American companies with more than a 20 percent foreign share. Governor Scott Walker has proposed changes to regulations overseeing the sale of land in his most recent budget proposal that would allow these entities to own more land than this designated amount.

Opponents of the changes say they are only being pursued because of a recently passed mining bill. Gogebic Mining, LLC, has made it clear they would like to sell large parcels of land to Chinese corporations.

Those in favor of the alterations have argued the current laws, which have been in place since 1887, are outdated and are prohibiting the advancement of Wisconsin’s economy. Thomas Larson, a Vice President with the Wisconsin Realtors Association, stated current laws are “repelling” companies from coming to the state and the alterations could add thousands of jobs.

At Sigman, Janssen, Stack, Sewall & Pitz, our team of Appleton Personal Injury Attorneys know Wisconsin real estate law, and we’re here to help if you are buying, leasing, or exchanging property.

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