Halloween is the second largest holiday for outdoor decorating, right behind Christmas. No surprise that Christmas is number one, who doesn't need a pick me up during the dark, cold days of winter?
But Halloween does seem like an odd second, doesn't? What about Thanksgiving? Or Easter? Or the 4th of July? No, Halloween wins!
This year I came across quite a few yards and lawns with Halloween decorations on the near west side of Madison. Some ghoulish, some classic and some just downright fun! Some of these displays are best viewed at night when the real character of the holiday comes out.
Take a drive through your neighborhood in the next few days and enjoy the second best holiday, at least as far as outdoor decorating goes. Check out the ghosts and ghouls and pumpkins of all shapes and sizes. You'll find blow-up spiders, witches hanging from trees and graveyards galore. Happy Halloween!
Tuesday, October 28, 2014
Tuesday, October 21, 2014
The Comfort Zone
A couple walked into my office a year ago and wanted to talk
to a Realtor. Yeah me! We sat down in my office to discuss what they
were looking for, in terms of location, size, price, timeline, etc. As we talked, I also discovered they like to
bike, camp, hike and garden. Excellent
information to have when looking for a new house.
As the discussion continued, I also tried to get a feel for
their motivation for moving. I learned
they were living in rural Dodgeville on 30+ acres in a home that they had
built. They had some sentimental
roots. How were we ever going to find a
place that had the home qualities they desired with the feeling of “space” that
their rural property provided them? A
tall order!
Something else was evident.
The wife was more excited about moving to Madison than the husband. He was reserved and reluctant; perhaps he
wasn’t fully committed to moving. The
husband loved his acreage!
We agreed to stay in touch and move forward. We identified a search area on the near west
side of Madison and began looking. We
looked at older homes and a few newer houses.
We looked at ranches, two-stories and even a few contemporary styles. Winter came and the search slowed. Last spring as the market began to gear up,
we resumed the hunt. And we expanded our
area to include Fitchburg. The husband also
began to relish the idea of moving to Madison.
In the meantime, they readied their rural house for
sale. Late last spring they called in a
bit of a panic. Their house in rural Dodgeville
had an accepted offer; time to intensify our efforts. Fairly quickly we landed on a house in
Fitchburg. It was a very nice ranch home,
close to the bike path. It afforded some
privacy and was in close proximity to nice restaurants and some shopping. They liked it! But the yard was tiny! What??
From 30+ acres to less than a ¼ acre lot; actually, yes!
We prepared an offer.
There were counter-offers. We
inspected. There were amendments. We had a closing date. Storage units were ordered. Boxes were packed and packed and packed. Their house out of town closed. They were homeless for 10 days, but took the
time to take a nice camping trip to relax before the next move to their new
house.
My clients moved into their new home late last summer. They are as happy as can be. While the yard is small, it provides plenty
of space for planting perennials and annuals, trees and shrubs. They are close to bike and hiking
trails. And they still camp.
Some transactions happen quickly. Others take more time to find the right
property so that everyone is comfortable and on the same page; where all
involved can get into their comfort zone.
Perhaps you know someone who wants to move (but maybe doesn’t know it yet). Have them give me a call at 608.333.4406. As always, I’m happy to help!
Tuesday, October 14, 2014
Market Normalization
The most
common
question I
have been
asked in
recent weeks
is, "Where
did all the
Buyers go?"
The Short Answer: Market Normalization.
The Long Answer: Buyers have gone nowhere. They are still here. They haven't left town in droves. There have been no large employers who have left our area; there have been no spikes in unemployment, no rises in interest rates, yet the number of showings on MLS listed properties are down across the board. So what has buyers holding back?
It's known as market normalization. An analysis of local real estate sales going back to 2003 indicates that the housing market is simply returning to its old self again. Historically, people have always wanted to move by the time school is out in May. For those who miss that opportunity, they really really want to be moved by the time school starts up in September. It's the way the real estate market has performed for most of the past 30 years.
Why do we say, "most of the past 30 years" and not "every year"? The game changer known as, "The Great Recession."
Beginning as early as the second half of 2005, we saw inventory levels rising dramatically and sales numbers dropping equally as fast. Inventory levels rose from a low 3.5 month supply in late 2003 to a market high 18 month supply in January of 2008. That's right...right here in good old, stable Dane County, a supply of housing for sale that would last for nearly a year and a half without the addition of any newly listed properties.
So where are we now? With a current supply of approximately four months but lower activity levels, we seem to be back to where we were a decade or so ago in terms of supply and demand: A Normal Market. The good news in all this? In housing, as with the stock market, stability and predictability are good things. In housing, sellers can now better time their move and buyers know when to count on more choices becoming available.
The Short Answer: Market Normalization.
The Long Answer: Buyers have gone nowhere. They are still here. They haven't left town in droves. There have been no large employers who have left our area; there have been no spikes in unemployment, no rises in interest rates, yet the number of showings on MLS listed properties are down across the board. So what has buyers holding back?
It's known as market normalization. An analysis of local real estate sales going back to 2003 indicates that the housing market is simply returning to its old self again. Historically, people have always wanted to move by the time school is out in May. For those who miss that opportunity, they really really want to be moved by the time school starts up in September. It's the way the real estate market has performed for most of the past 30 years.
Why do we say, "most of the past 30 years" and not "every year"? The game changer known as, "The Great Recession."
Beginning as early as the second half of 2005, we saw inventory levels rising dramatically and sales numbers dropping equally as fast. Inventory levels rose from a low 3.5 month supply in late 2003 to a market high 18 month supply in January of 2008. That's right...right here in good old, stable Dane County, a supply of housing for sale that would last for nearly a year and a half without the addition of any newly listed properties.
So where are we now? With a current supply of approximately four months but lower activity levels, we seem to be back to where we were a decade or so ago in terms of supply and demand: A Normal Market. The good news in all this? In housing, as with the stock market, stability and predictability are good things. In housing, sellers can now better time their move and buyers know when to count on more choices becoming available.
Sunday, October 5, 2014
August 2014 Home Sales
It's not news that spring is the Real Estate market "season". Typically, the market slows from mid-August to mid-September as buyers and sellers are more occupied with late summer vacations and the start of a new school year. This trend was also true this year, however the home sales on the near west side of Madison continue to be strong.
Oh sure, there are some houses that don't sell as quickly, often a result of location, condition or price. But that may also have been the case had those houses been listed in the spring. See what sold...perhaps a neighbor or friend's house is listed below!
August home sales
Oh sure, there are some houses that don't sell as quickly, often a result of location, condition or price. But that may also have been the case had those houses been listed in the spring. See what sold...perhaps a neighbor or friend's house is listed below!
August home sales
1009 Saybrook Rd
|
$165,000
|
08/12/2014
|
401 Shepard Ter
|
$293,900
|
08/12/2014
|
3909 Euclid Ave
|
$279,000
|
08/12/2014
|
5217 Harbor Ct
|
$460,000
|
08/12/2014
|
4349 Felton Pl
|
$213,000
|
08/11/2014
|
445 Rushmore Ln
|
$192,000
|
08/11/2014
|
930 Haywood Dr
|
$199,000
|
08/11/2014
|
814 Blue Ridge Pkwy
|
$645,000
|
08/08/2014
|
2908 Arbor Dr
|
$232,500
|
08/08/2014
|
742 Oneida Pl
|
$504,000
|
08/07/2014
|
1017 Vilas Ave
|
$315,000
|
08/07/2014
|
223 Alden Dr
|
$180,000
|
08/07/2014
|
641 Eugenia Ave
|
$315,000
|
08/06/2014
|
4115 Cherokee Dr
|
$320,000
|
08/06/2014
|
638 Odell St
|
$271,000
|
08/06/2014
|
4338 Travis Ter
|
$251,800
|
08/06/2014
|
588 N Midvale Blvd Apt 302
|
$188,000
|
08/06/2014
|
5054 Lake Mendota Dr
|
$452,000
|
08/05/2014
|
317 Nautilus Dr
|
$122,400
|
08/05/2014
|
125 S Yellowstone Dr
|
$315,000
|
08/05/2014
|
409 Shepard Ter
|
$250,000
|
08/05/2014
|
622 Orchard Dr
|
$239,000
|
08/04/2014
|
9 Kewaunee Ct
|
$405,000
|
08/04/2014
|
1347 N Wingra Dr
|
$221,500
|
08/04/2014
|
480 Hilton Dr
|
$194,900
|
08/04/2014
|
425 Presidential Ln
|
$219,900
|
08/04/2014
|
1028 Erin St Apt 5
|
$129,900
|
08/04/2014
|
1226 Brookwood Rd
|
$265,000
|
08/04/2014
|
4502 Onaway Pass
|
$245,000
|
08/04/2014
|
504 Toepfer Ave
|
$274,000
|
08/04/2014
|
1014 Spruce St
|
$215,000
|
08/01/2014
|
653 Hilltop Dr
|
$333,000
|
08/01/2014
|
5022 Regent St
|
$288,000
|
08/01/2014
|
3513 Gregory St
|
$255,000
|
07/31/2014
|
909 Pontiac Trl
|
$309,000
|
07/30/2014
|
841 Terry Pl
|
$365,000
|
07/30/2014
|
608 N Midvale Blvd Unit 301
|
$145,000
|
07/30/2014
|
456 Virginia Ter
|
$515,000
|
07/29/2014
|
915 Columbia Rd
|
$448,000
|
07/29/2014
|
6006 Driftwood Ave
|
$306,200
|
07/29/2014
|
5525 Englewood Dr
|
$245,300
|
07/29/2014
|
1922 Keyes Ave
|
$323,200
|
07/28/2014
|
30 N Spooner St
|
$352,000
|
07/28/2014
|
Wednesday, October 1, 2014
Monroe Street Changes
My office is on Monroe Street, so I spend a lot of time driving on Monroe. If you do too, you have seen the changes happening up and down the street.
Some exciting changes are in store! You may have seen "The Monroe" building going up in place of the old Town and Country service station on the 2600 block of Monroe. Retail space on the first floor and apartments above are a nice improvement to the area. Two long-time Monroe Street retailers have moved into the "The Monroe". The Knitting Tree is now located at 2630 Monroe St. and the Monroe Street Shoe Repair is occupying space at 2630 Monroe St.
The 2500 block of Monroe is also under construction. The space previously occupied by The Knitting Tree and The Monroe Street Shoe Repair is being renovated to house Collectivo Coffee with plans to open in early 2015. Collectivo Coffee currently has one location in Madison on N. Pinckney at Tenney Plaza on the Capitol Square. The Monroe Street location will provide a full-service café offering breakfast and micro-brews. The design of the new coffee shop proposes an open floor plan with large exterior windows to invite customers to connect with the sidewalk atmosphere of the location.
Additional changes are coming to Monroe Street on the 3400 block of Monroe St. More on those changes in an upcoming post!
Some exciting changes are in store! You may have seen "The Monroe" building going up in place of the old Town and Country service station on the 2600 block of Monroe. Retail space on the first floor and apartments above are a nice improvement to the area. Two long-time Monroe Street retailers have moved into the "The Monroe". The Knitting Tree is now located at 2630 Monroe St. and the Monroe Street Shoe Repair is occupying space at 2630 Monroe St.
The 2500 block of Monroe is also under construction. The space previously occupied by The Knitting Tree and The Monroe Street Shoe Repair is being renovated to house Collectivo Coffee with plans to open in early 2015. Collectivo Coffee currently has one location in Madison on N. Pinckney at Tenney Plaza on the Capitol Square. The Monroe Street location will provide a full-service café offering breakfast and micro-brews. The design of the new coffee shop proposes an open floor plan with large exterior windows to invite customers to connect with the sidewalk atmosphere of the location.
Additional changes are coming to Monroe Street on the 3400 block of Monroe St. More on those changes in an upcoming post!
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