Interview with Bill Malkasian- Wisconsin Realtor Association President- Brought to you by the Madison Real Estate Show

The Madison Real Estate Show is excited to provide you this insight from one of the area's most knowledgeable real estate professionals. We hope that you find it informative and useful.

Recently I had a chance to ask some questions of and get some insight from Bill Malkasian - President of the Wisconsin Realtors Association. For those of you who haven't heard Bill speak...it is always a highlight of any seminar that he is a part of. Involved in WI real estate for over 30 years Bill brings a wealth of knowledge to any real estate topic. With buyers and sellers both looking for a little advice when it comes down to what to do I thought it would be great to hear from such a expert...right here in Madison, WI

John Schroeder: Madison Real Estate Show- Bill, Tell us a little about yourself.

Bill Malkasian- I am the President and Chief Staff Officer of the Wisconsin Realtors Association, a position I have held for 30 years. I oversee the professional staff of the WRA based in Madison, Wisconsin. We have approximately 35 people on staff and nearly 16,000 members statewide.

Madison Real Estate Show- How did you take an interest in real estate?

Bill Malkasian- I was working in the State Capitol in 1975 and was hired at 23 years old as the WRA"s first Legislative Director ...My father in law Phil Engen was a Realtor. My entire career has been in Association Management of Real Estate groups.

Madison Real Estate Show- Where do you see real estate heading in 2008?

Bill Malkasian- 2008 in Wisconsin will fare better then the nation. I think Listings will begin to shrink in the second half of the year ...as buyers figure out that lower interest rates and inventory make a great time to buy. Sellers will still struggle with pricing as they fight to understand price reductions. Bottom line the market will struggle a bit in the first half of the year but recover to a normal pattern in the second half.

Madison Real Estate Show- How about in the next 2-5 years?

Bill Malkasian- The next 2-5 years is full of opportunities as age demographics kick in...meaning baby boomers see second homes as an attractive investment and pricing is attractive to first time buyers especially many single woman. Condo markets will pick back up as a housing choice and land plus recreational markets will see growth again. Housing will remain a solid investment for many as they see volitility in equity markets.

Madison Real Estate Show- What impact will foreclosures have on the market here in Madison, WI? Statewide?

Bill Malkasian- Foreclosures will take a couple of years to work through the system and will impact pricing all throughout Wisconsin....It will be a speciality product for many agents as lenders unload inventory. Many bright investors will see bottom level pricing opportunities. Either way, the foreclosure market will impact pricing.

Since my next few questions overlaped quite a bit I thought that I would group them together along with Bill Malkasian's answers:

Madison Real Estate Show- Is this a good time to be a buyer in the Madison, WI area? Any advice for home buyers? What are your recommendations for sellers in the Madison, WI area? What are your thoughts on the overall economy in Madison, WI? Employment? Quality of Life? Growth?

Bill Malkasian-

• Buyers are in a good position to make offers
• Sellers need to be reasonable in pricing though huge price discounts here are NOT like Florida etc
• Agents need to study pricing closely, that's what your getting paid for now more then ever
• Internet marketing models on social networks will work more then ever- (We like this answer!)
• Sellers and Buyers need to relearn the mortgage market and how people can qualify for a mortgage
• Niche marketing and specialization marketing will be very hot in 2008
• Madison has a very strong economy and withstands possible recessions better then the rest of the state and country
• Quality of life in Madison is one of the best assets and it will continue to rank very high nationally

We would like to thank Bill for his time and for sharing some terrific local real estate knowledge that we were able to pass along to our readers.

Look for more interviews in the future with more local real estate experts!!!

John Schroeder -RE/MAX Preferred- 608-225-0926 john@HomesByJV.com

Comments

[Darren Kittleson]

John-Great interview. Bill is a HUGE asset to Wisconsin and our industry in general. I believe in his insights as he's seen market shifts and correction over the years in his role. Thanks for bringing this to us!

[John Schroeder]

Darren- We can all learn from someone like Bill Malkasian. I am glad you liked the interview.