Even with the low prices of foreclosed homes for sale in Green Bay and distressed properties in most areas of Wisconsin, not a lot of buyers took advantage of the bargain prices during the month of March. In the Milwaukee region, sales of residential properties dropped by 14.9% in March 2011 compared with March of last year. For the January-March 2011 period, housing sales went down by 4.8% compared with the same three-month period of 2010.

Both non-distressed and WI foreclosed properties for sale recorded decreases in sales figures in most local markets of Milwaukee in March. According to data from the Greater Milwaukee Association of Realtors, the biggest drop was recorded in Washington County where sales fell by 34% compared with March 2010. However, when the full first quarter figure is examined, the sales drop compared with the same 2010 quarter was only 3.7%. Meanwhile, Milwaukee County also posted a sales decline during the period.

Sales of townhome foreclosures and non-foreclosed houses in Milwaukee County dropped by 15.2% in March of this year compared with year-ago levels. For the full first quarter, housing sales declined by 5.9% compared with the January-March 2010 period. Waukesha County, on the other hand, posted an 8.8% drop in housing sales between March 2011 and March 2010. For the period January-March 2011, Waukesha housing sales recorded an increase of 0.7% compared with the 2010 first quarter.

According to housing market analysts, the dip in sales transactions involving regular residential properties and foreclosures for sale was not surprising, given that sales figures from 2010 were highly inflated by the U.S. federal government's tax credit program. They explained that the initiative gave first time homebuyers an incentive to complete purchase transactions during that period, which effectively resulted in higher sales figures than what would have been expected under normal conditions.

Although regular dwellings and townhome foreclosures sales were down for the month and for the quarter, analysts stated that the Milwaukee area's housing sales figures are not as bad as they look. They stated that sales are expected to rise in the coming months, particularly during the spring and summer seasons.

In comparison with the first quarter of 2008, the second quarter reported, not only homes selling faster, but also for more money. Some segments of the market do remain stagnant though.

Around 195 houses were sold in the second quarter in Fond du Lac. Compared to the first quarter this was close to double the increase in number of sales.

The average selling price of a house has increased to $131,524, an increase of 16% in the second quarter of 2008 as compared with the first quarter. Also, the average time a house spent being on sale went down by 27 days when comparing the first two quarters of the year.

If the numbers of foreclosures for sale in the city increase the chances of prices of homes going down also increase. According to the Wisconsin court, 191 homes from the Fond du Lac County are in some phase of the foreclosure procedure.

With foreclosures often selling for lower than the market value, particularly if the homeowner of the lender wants to sell the home quickly, this is a particularly good time to invest in a foreclosure home.

The internet is a good source of getting listings for foreclosure homes. There are many websites that have listings in an area specific manner. Local newsletters also have lists of foreclosure homes. Besides, one could also get in touch with financial institutions that deal with home mortgages or approach local real estate agents.

If buying a foreclosure home, one should keep in mind that foreclosure homes traditionally sell for lower than homes those are not involved in foreclosure. Whether dealing with a lender or the homeowner, the initial offer made to a prospective buyer usually leaves room for negotiation.

Until June, the number of Wisconsin foreclosed homes has already reached 9,229. Among the areas hit hardest is Milwaukee County with already 2,327 foreclosure filings for this year. The Legal Aid Society of Milwaukee sought out the reason behind such large inventory and discovered how outrageous and risky some of the mortgages were. If this does not stop, housing prices in many neighborhoods might go down and shift the advantage to investors instead of the homeowners.

Of course, buyers of foreclosure homes in Wisconsin are considering the current situation as good news. With thousands of real estate foreclosures to choose from and with asking prices that are unbelievably low, investors will certainly make a killing. Lenders who are in possession of numerous non-performing assets have no choice but to offer more incentives and cut down list prices.

As mentioned, the growing population in Wisconsin would somehow ease the pressure on the housing market. As more and more families and individuals relocate to Wisconsin, generally due to its stable economy, it should not be the least surprising that market correction will continue.

If you want to take advantage of the great return potentials of these Wisconsin foreclosure homes, you should have reliable foreclosure listings, preferably from long-time brokers like E-Foreclosure Search. This way, your foreclosure-hunting is made even more convenient and you can certainly have a greater chance of grabbing the hottest property.

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