Gates and Brovi

If you travel the near west side of Madison in any regularity, you have watched the progress of the new retail/apartment complex Parman Place.  If you recall, Parman Place is located in what was formerly a long-time Madison business Parman's service station, at the corner of Glenway and Monroe St.

Gates and Brovi, a restaurant owned by Phillip Hurley and John Gadau of Marigold Kitchen and Sardine Fame will occupy the first floor of the new development.  The name of the restaurant may sound more like a business firm than a restaurant, but Hurley assures me the name has meaning.

"It's named after my grandfather and John's father, two people who have had great influence on each of our careers," explains Hurley.

The restaurant is expected to be family friendly and neighborhood oriented.  It is slated to open in September. 

The restaurant will be a welcome addition to an already vibrant neighborhood. Watch for details about an opening soon!

Home Sales on the Rise

The numbers are in...and the news is good if you are selling or purchasing a home. Wisconsin home sales continued to grow at a healthy pace during the first half of 2012.  Sales of existing homes were up 19.3 percent in June over June of last year, according to the most recent monthly report by the Wisconsin Realtors Association.  This continues a pattern that began last summer.

Since the beginning of the year, home sales were up 20.6 percent. The report also showed June median home prices increased 1.4 percent to $142,000 relative to the same month last year which is the fourth straight month of increasing median prices.

Closer to home on the near west side of Madison we are seeing similar trends.  Some homes in the Westmorland area are receiving offers within days of being listed.  Also, for the first time in recent history, inventory is down.  While it's still a buyers market, those buyers are finding fewer choices.  We also continue to see the most sought after homes in the $200,000-$250,000 price range.

It's a fabulous time!  If you are thinking of buying or selling...jump in, the water's fine!

Keyes Vs. Keys

There are some odd street names in Madison.  Segoe Road, for instance is pronouced See-go.  Some newcomers pronouce it  Seh-gow, I presume because of the spelling.

I recently had a conversation with a woman about Keyes Ave. on the near west side in the West Lawn neighborhood. The street name is pronounced as though the first "e" were an "i" and the "es" at the end were a "z" as in Kih-z.

During our conversation, she mentioned that the new homeowners in the area pronounced the street "Keys".  That made me sad, since the street name has historical significance.  It was named after Elisha William Keyes, who was a Republican politician, postmaster of Madison for many years and Madison Mayor from 1865-67 and again from 1885-86.  He was also a state assemblyman.

Street names with historical significance are plentiful on the near west side.  The streets near Vilas Zoo are named for U.S. Presidents.  In University Heights, street names such as "Summit" and "Prospect" suggested high class as well as geograhy.  Most other streets in University Heights were named in honor of University professors and presidents.

As homes turnover and new families move into neighborhoods, I hope we don't lose the history of the city.  It may only be a street name, but it's also a part of the legacy of Madison. 

2nd Quarter Homes Sales

I had a conversation with a buyer at an open house recently who said she hasn't been able to purchase a house, not because she can't find one she likes, in the right location at the right price, but because the ones she has found already have offers.  Quite a change from a year ago at this time!

Media reports indicate that home sales have not reached "normal" levels after the housing collapse of the last few years.  That may be true, but on the west side of Madison, sales have been steady with some houses selling at or above the asking price.  We may not be back to bidding wars, but we are in a better place that we have been for some time.

Buyers are still looking for a good deal and they are persnickety, but less so recently.  Here's what happened on the near west side during the second quarter:

  Sunset Village Home Sales - 2nd Quarter 2012

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
34 Hillside Ter.	$190,000	$190,000	$190,000	100%	102%	1	1
322 S. Owen	$205,000	$205,000	$203,000	99%	97%	3	3
18 S. Meadow	$224,900	$219,900	$206,000	91%	94%	42	15
3705 Zwerg	$229,900	$219,900	$217,000	94%	98%	131	20
3533 Heather Crest	$220,000	$220,000	$222,000	101%	99%	5	5
214 N. Meadow	$234,900	$234,900	$225,000	96%	96%	29	29
4210 Bagley	$242,000	$242,000	$230,600	95%	95%	13	13
317 S. Owen	$239,900	$239,900	$234,129	97%	97%	10	10
329 E. Sunset	$244,000	$244,000	$244,000	100%	100%	27	5
301 N. Owen	$249,900	$249,900	$249,900	100%	100%	11	7
4333 Felton Pl.	$274,900	$269,900	$270,500	98%		30	10
4312 Upland Dr.	$360,000	$244,000	$325,000	90%	94%	209	150
Average Total	$242,950	$239,950	$234,761	97%	98%	43	22

Westmorland Home Sales-2nd Quarter 2012

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
591 Toepfer	$214,000	$185,000	$177,400	83%	96%	108	17
449 Toepfer	$197,500	$197,500	$195,000	99%	99%	9	9
609 Frederick	$200,000	$200,000	$205,000	103%	103%	5	5
4210 Somerset	$255,000	$255,000	$249,400	98%	98%	14	14
4104 Paunack	$269,900	$269,900	$260,000	96%	96%	60	30
3805 Paunack	$259,900	$259,900	$267,000	103%	103%	22	7
454 Holly	$340,000	$319,900	$301,000	89%	94%	41	19
602 Frederick	$349,900	$332,500	$337,500	96%	101%	53	23
3 Frederick Cir.	$389,900	$379,900	$365,000	93%	96%	174	25
Average Total	$275,122	$266,622	$261,922	96%	98%	54	16.5

Dudgeon-Monroe Home Sales- 2nd Quarter 2012

Address	1st Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days of Market	# Days From Last Price Change Until Offer
610 Gilmore	$225,000	$225,000	$216,000	96%	96%	1	1
3314 Gregory	$250,000	$224,900	$230,000	92%	102%	46	6
607 Copeland	$259,900	$259,900	$245,000	94%	94%	46	6
502 Leonard	$310,000	$299,000	$295,000	95%	99%	173	29
749 Baltzell	$425,000	$425,000	$425,000	100%	100%	8	8
616 Pickford	$435,000	$435,000	$435,000	100%	100%	1	1
Average Total	$317,483	$311,467	$307,667	96%	98%	46	8.5