Monday, June 20, 2016

Why Won't My House Sell??

It's hard to believe that in this Real Estate market, there are houses that aren't selling.  It happens.  People buy houses using three criteria; Location, Price and Condition.  Seller's can't change the location, but they can control the price and condition.  Here are a few tips to make a house more appealing to more buyer's:

  • Declutter, declutter, declutter.  When you are finished decluttering, declutter some more!  It helps to have a friend with a fresh eye help with this.
  • Finish the project.  Put up that trim that you never got around to installing. Paint that wall that you were going to paint.  Take down that wallpaper you thought was hideous when you moved in.  Buyer's won't look past those things that you can overlook.
  • Consider putting large pieces of furniture in storage if the room is "overstuffed".  It's always good to have furniture in the house so buyer's can gage the scale of the room, but too much can be overwhelming.
  • Please remove personal belongings and family photos, if possible.  Buyer's can't see themselves in your house if everywhere they turn they see photos of "Jane and Johnny".
Don't get discouraged.  Have faith!  There is a buyer out there for your house.  You only need to find one!  Please give me a call, I'm happy to help!

Tuesday, June 14, 2016

Jazz in the Park

Join neighbors and friends for the 25th annual Jazz in the Park at Wingra Park on Saturday June 18th beginning at 3:30 p.m.  Bring a picnic lunch or purchase snacks from the Wingra Boathouse.

Enjoy live music from some of Madison's finest jazz musicians.  Bands include  High School Jazz All Stars, Edgewood Jazz Ensemble, VO-5, MadiSalsa.

Take time to enjoy fun family activities, too!  Try your hands at some arts and crafts or give log rolling a spin!


Schedule of Events
8:00am-3:30pm Dragon Boat Festivities at Vilas Beach
7:30-11:00am Duck Dash
Race Registration 7:30am
Free Kids Race 8:00am
8:30am Race Start - 10K and 3K Fun run

Special 25th Anniversary Event Lineup:
3:00pm-3:45pm-Isthmus High School All Stars
4:00pm-4:45pm- Edgewood College Jazz Ensemble
5:30pm-7:00pm- VO5
7:30pm- 9:00pm- Madisalsa
*Children’s Activities from 3:00pm-4:30pm* Monroe Street Arts Center will be providing children’s crafts along with a visit from Madison Fire Dept. Engine 4.

Tuesday, June 7, 2016

Change is the Only Constant

Change affects all of us in every aspect of our lives. Whether it is our kids, our finances or our homes, we continually exist in a state of flux. The real estate market is no different. Since the collapse of 2008 and the Great Recession of 2009, we have seen home prices plummet, then recover and now hit record highs in our market area. It has taken years, but the average single family home value in Madison has fully rebounded to a record $254,593.

The level of home inventory is no exemption to the forces of change. From a market high of approximately 5300 Dane County homes for sale in October of 2008, we now sit with only 1300 available currently. It's no wonder home buyers are having a hard time. So why is it that fewer owners are putting their homes on the market for sale? Here are the top 3 reasons I can identify:

1. "With so little inventory, I'll be left homeless once I sell my home."
If you need to make a change, this reason should not deter you. There are a couple of ways around this problem such as making the sale of your home contingent on you finding a suitable home. Leasing your home back from the buyer on flexible terms is another option - this allows you to compete for your next home with cash in your pocket.

2. "I don't want to give up my low interest rate loan."
Interest rates are still historically low, perhaps not as low as the records set a couple years ago, but very close, with the Federal Reserve continuing to threaten more increases in the near future. If you know that you will be making a change in the future, your best move is to do it now before markets return to a more balanced level, which will likely mean interest rates 50% - 100% higher than current levels. A quick call to your mortgage lender will help you with the math and forecasting in this area. If you need a reference, let me know.  I have several reputable lenders who are ready to help!

3. "The market is appreciating so quickly, why would I sell?"
If you plan on moving into a less expensive home in the future, it probably makes sense to stay in your current home; however, if you plan on making a move up in price, you would be better off taking advantage of the lower interest rates and lower prices now. You will save tens of thousands of dollars in interest in the future.

Recent reports have indicated that home prices in our area are now at record levels. Especially if your next move is to an apartment or senior living community, now is your time to take advantage of market conditions. I am ready, willing and able to help you make your smartest move now and would be honored to be your Realtor of choice.

Wednesday, June 1, 2016

Early April 2016 Home Sales

There is one phrase in the Real Estate world that everyone is familiar with: location, location, location!  There are also three reasons people buy a house: location, condition and price.  Of course, these are simplified reasons, a lot of thought, negotiating and conceding also goes into the process.

One thing is clear this season, the west side of Madison is a great location and most houses are in good condition at a good price.  Here's the proof!  Recent homes sales are below. Call me if I can help you with the process!