Friday, December 2, 2016

Looking Back at 2016

Despite all the changes that came about in 2016, the real estate market remained solid. It was extremely consistent, and is likely to become a record-setting year for Wisconsin's existing home market.

As with 2015, the housing industry again saw healthy increases in value. Inventory, while still very low compared to the number of people looking to buy, loosened up a bit mid-year. In June of 2016 the number of available homes for sale rose to 9,942, up from 9,450 the previous year. By August of 2016, there were nearly 1,000 additional homes for sale over 2015 inventory for that same time period. Still, buyers outweighed sellers, which continued to drive home prices up.

Why so many buyers? This is thanks to many factors, including low interest rates, lower gas prices, stronger wage growth, and greater numbers of millennials entering the home buying market. Technology is also making it easier for these buyers to shop for homes from virtually anywhere.


What's in store for 2017?  Stay tuned....

Thursday, November 17, 2016

No Slow Down in Sight

Crisp, cool air. Football. Shorter days; longer nights. Yes, we are definitely in the midst of autumn. The holidays are quickly approaching. The first snowfall of the season could happen at any time. And all this as we prepare for spending a day feasting with family and loved ones on Thanksgiving.

Just because the world seems to quiet down a bit in the fall doesn't mean great things aren't continuing to happen in real estate, though. 


Locally, our market still shows no signs of slowing down. September's numbers were up across the board. In South Central Wisconsin, MLS reported home sales were 1,416, up from 1,320 last year. Median home prices were $196,500, up from $183,000 in September of 2015. As I've stated before, inventory remains low, so this fall and winter continues to be an ideal time to sell.  Contact me for a free market analysis.  As always, I'm happy to help!

Friday, November 4, 2016

Six Fall Homeowner Tips

Well, I’m not sure what happened to summer, but with piles of leaves to rake, cooler nights and shorter days, autumn has certainly arrived.  And speaking of shorter days, remember to “fall back” this Saturday November 5th, when Daylight Savings Time comes to an end.

Here are a few more tips to get your house ready before the snow flies:

Jack-o-Lanterns:
·        Time to dispose of those Halloween jack-o-lanterns!  The city of Madison will pick them up if left at the curb.  Please don’t put in the garbage; they only take up landfill space!

Check your windows:
·        If you have combination storm windows, be sure the screens are down.  Close windows and lock to keep out any drafts.

Furnace:
·        Change your furnace filter and if you haven’t had a furnace safety check recently, now is a good time to take care of that.

Outdoor faucets and hoses:
·        Reel in and drain your outside hoses and store for the winter.  Now is also a good time to make sure the outside faucets are turned off for the winter.

Clean the Gutters:
·        Where are all those leaves that aren’t piled in your yard?  They are in your gutters!  Clean your gutters now so when the spring rains arrive it’s clear sailing.

Start your snow blower:
·        Check your snow blower to see that it will work when that first snowfall arrives.  Have it at the ready too, not buried behind the bikes, lawnmower and other “garage stuff” that tends to accumulate!  No snow blower?  Find the snow shovels and have them ready, you’ll also need those!


Remember to find time to enjoy the season, too.  There are still plenty of nice autumn days ahead!  Happy Fall!

Monday, October 31, 2016

September 2016 Home Sales

Well, although the weather doesn't seem to be sure these days, we are officially in Autumn!  Typically, a slower time for sales in the Real Estate market.  While the market has slowed a bit as the days become shorter, it is still a brisk market.  And buyer's are still searching high and low for their perfect home!

Here are the homes that sold in September on the near West side of Madison.  If you are thinking of making a move, ow might be a perfect time to start considering!  As always, I'm happy to help!


Wednesday, October 26, 2016

Why are Buyers and Sellers Nervous??

2016 has been an unusual year in the Real Estate Market. For buyer's it's been especially tough.

Buyer's are becoming disillusioned because the market is so tight; low inventory and lots of buyer's.  Many have tried to purchase and have been "beat out" by other offers on the same house, which only adds to their disappointment.  In some cases, these buyer's have been trying to get into a house for more than a year!  So why all the cautious behavior?
 
Here's my two cents on why buyer's and seller's are nervous:

When the market fell apart a few years ago, homeowners hunkered down and remodeled or refinanced rather than move.  Now, they either want to stay because of the remodel or it doesn't pay for them to move after a refinance.
 

With the uncertainty in the upcoming presidential election, buyer's and seller's are unsure what the next few years will bring for interest rates and for the economy.  That reasoning has buyer's wanting to get into a house before any unusual or drastic changes happen.  It's the same reason seller's want to stay put; all are uncertain about the future.

Despite all that, it's still a great time to sell a house; seller's are in the driver's seat.  And we haven't seen a slow down in buyer's searching for their perfect house.  

Monday, October 17, 2016

Fall Looks to Continue the Strong Sales Trend of Spring and Summer


Change is in the air! The kids are back at school, the leaves are turning brilliant colors, the air has a slight frosty nip to it and backyard barbeques have been replaced with football viewing get-togethers. Yes, it’s definitely fall in Wisconsin.

Oddly, though, one thing that doesn't seem to be changing very drastically is the state of the real estate market in the greater Dane Country region. Spring and summer home sales were fast and furious. In fact, August home sales in Wisconsin saw the strongest numbers since 2005, with a whopping nine percent jump over August, 2015. In Dane County, our numbers stayed pretty much static compared to last year's home sales, but the median sale price increased by 6.1 percent to $244,000.

As with the past year, home sale prices are being driven up by a lack of inventory in the marketplace. Obviously, this makes autumn a perfect time to list property. And those who are in the market to purchase a home are in luck, too. Not only is it a beautiful time of year to drive around and look at potential new homes, but the current interest rates are incredibly low. According to the Wisconsin Realtors Association, a 30-year fixed-rate mortgage this past August was at 3.44 percent, about a half percent lower than August 2015.

Fall is the perfect time for sellers to consider listing a home.  As always, I'm here to help!

Wednesday, October 5, 2016

New Restaurants Coming to Monroe St.

Monroe St. is home to some great shopping and restaurants.  Some new neighborhood restaurants will be opening soon:

Everly:
Opening at 2701 Monroe St. - Suite 270, the eatery will offer lunch, dinner and weekend brunch specializing in local and regional meat dishes along with veggies, grains and eggs.

Miko Poke:
Slated to open at 2701 Monroe St. - Suite 250, this will be a Hawaiian-themed restaurant with a gluten and dairy-free menu.  The Poke bowls will feature raw seafood, rice or noodles with special sauces and spices.

The Roman Candle Pizzeria:
2623 Monroe St. A Madison/Middleton favorite has submitted plans to open soon.

Infusion Chocolates:
2503 Monroe St., this Chocolatier is also hoping to open soon to satisfy the sweet tooth of area folks!

Watch for these new restaurants in the coming months.  Yummy!