Thursday, September 10, 2020

Resilience of Real Estate Market

 

One of the biggest surprises of 2020 is the resilience of the residential real estate market. Experts are forecasting that more homes will be sold this year than in 2019, despite the pandemic.  To prove the point, ShowingTime, a leading showing software and market stat service provider for the residential real estate industry, has reported that home buyer traffic increased in July with a more than 60% increase in showings activity over July 2019.

That means there 60% more buyers are setting appointments to see homes than there were at this same time last year. 

This is a sure sign that the housing market is solid and expected to continue to be strong.  What does all this mean?  If you’re thinking about selling your house, this may be a great time to get the best price and the most favorable terms.  It also means, that despite virtual school, and virtual almost everything, it's better to be proactive and act now!  Hit me up!  I am happy to help!

Tuesday, September 1, 2020

Price Matters, but....

Most people begin with the price in mind when buying a house.  Price is important, but other issues also come into play.  Is the house updated?  Is the size right?  Is the location right?  Does it have the amenities the buyer is looking for?  

The other parameter to consider is the overall cost of the house.  Price and cost are different.  Price is what the property will sell for, cost is what it will take to own the house.  Things to consider, in addition to the price, are homeowners insurance, property taxes, utility costs and maintenance costs.  The "cost" of owning a house is largely impacted by low interest rates.  With interest rates at historic lows, housing is more affordable and many buyers can afford "more" house than they thought. Low interest rates also can save the homeowner over the life of the home loan, in many cases off-setting the rising home prices.  

When you are ready to pull the trigger, be sure to have your ducks in a row.  Have a pre-approval letter from a lender ready and make sure your Real Estate professional is in tune with your wants and needs.  Who you work with really does matter!



Tuesday, August 25, 2020

June-Early July 2020 Home Sales

The west side Madison Real Estate market is HOT!🔥  But that is nothing new.  It was a slower spring market due to the COVID-19 pandemic uncertainty, but the housing market quickly picked up steam!  Prices are on the rise.

Here are the sold properties in late June and early July of this year.