No Place Like Home

There's no place like home...even in the snow!

Listen up if you are a Buyer in this red 🔥 market!  The Madison Real Estate market is heating up.  And I'm telling you, after the Super Bowl on Sunday, it's really going to be crazy.  That means it's time to 💪 your home buying muscle and get out in front of the other Buyers out there.  But how??

It's time to be flexible, and ready to go when that perfect house comes along.  If you haven't visited a lender, do it now so you are preapproved.  Also, consider other ways to be flexible.  Can you be adaptable on closing date?  How about allowing the Seller to rent back?  Remember Sellers are looking for their perfect house, too.   Let's kick some Real Estate booty this spring!  I'm with ya! 

November 2019 Home Sales

Typically, the fall Real Estate season is slow.  2019 may have been an exception to that rule, with mild weather and buyers still hungry for housing.  Here's what sold in November 2019 on the near west side of Madison.

November 2019 Home Sales

1028 Erin St Apt 3 Madison, WI

Sold: $176,500

1 Bed, 1 Bath	Built in 1931
Sold On 11/27/19	668 sqft
Price/sqft: $264

1115 Tomahawk Trl Madison, WI

Sold: $340,000

3 Bed, 2 Bath	Built in 1951
Sold On 11/27/19	1530 sqft
Price/sqft: $222

321 S Owen Dr Madison, WI

Sold: $328,000

2 Bed, 1.5 Bath	Built in 1946
Sold On 11/27/19	1706 sqft
Price/sqft: $192

2815 Chamberlain Ave Madison, WI

Sold: $320,000

3 Bed, 1.5 Bath	Built in 1946
Sold On 11/26/19	1702 sqft
Price/sqft: $188

617 Gately Ter Madison, WI

Sold: $345,000

3 Bed, 2 Bath	Built in 1951
Sold On 11/26/19	1287 sqft
Price/sqft: $268

2741 Mason St Madison, WI

Sold: $474,900

3 Bed, 2.5 Bath	Built in 1940
Sold On 11/26/19	1888 sqft
Price/sqft: $252

4910 Lake Mendota Dr Madison, WI

Sold: $1,402,500

4 Bed, 4.5 Bath	Built in 1962
Sold On 11/26/19	3882 sqft
Price/sqft: $361

502 N Meadow Ln Madison, WI

Sold: $382,000

3 Bed, 2 Bath	Built in 1961
Sold On 11/26/19	1956 sqft
Price/sqft: $195

1640 Capital Ave Madison, WI

Sold: $275,000

5 Bed, 2 Bath	Built in 1953
Sold On 11/25/19	2480 sqft
Price/sqft: $111

5714 Barton Rd Madison, WI

Sold: $265,000

4 Bed, 2 Bath	Built in 1959
Sold On 11/25/19	2776 sqft
Price/sqft: $95

446 Woodside Ter Madison, WI

Sold: $420,000

4 Bed, 3 Bath	Built in 1957
Sold On 11/22/19	2298 sqft
Price/sqft: $183

1114 Frisch Rd Madison, WI

Sold: $270,000

4 Bed, 2.5 Bath	Built in 1966
Sold On 11/21/19	2388 sqft
Price/sqft: $113

6221 Old Middleton Rd Madison, WI

Sold: $450,000

4 Bed, 2 Bath	Built in 1950
Sold On 11/20/19	2315 sqft
Price/sqft: $194

1530 Adams St Madison, WI

Sold: $320,000

0 Bed, 0 Bath	Built in 1927
Sold On 11/20/19	0 sqft
Price/sqft: n/a

634 Emerson St Madison, WI

Sold: $380,000

2 Bed, 1.5 Bath	Built in 1950
Sold On 11/20/19	1341 sqft
Price/sqft: $283

Smaller Homes Trending

In the last five years, we have seen smaller homes becoming more popular, particularly the ranch style.

Why are smaller homes popular now?

I see a few reasons for the trend:

• Many of today’s younger, millennial home buyers have are interested in a more "urban" setting, with denser, more walkable neighborhoods to take advantage of local amenities.
• Today’s older homeowners are expressing a desire for smaller, less maintenance-heavy and more accessible (read: less stairs) homes as they age and move into newer homes.

With these two demographic groups surging through the market, the demand for this type of home is rising. If you’re a homeowner with a smaller-scale house, now may be a great time to sell, as the demand for this end of the market is surely on the rise.

The demand for smaller houses will continue to rise throughout 2020. Contact me if you'd like to take advantage of this trend!  I'm always happy to help!

2020 Home Prices

We have been talking in recent days and weeks about mortgage rates, and homes sales in 2020.  A presidential election and potential recession may both play roles in home the Real Estate Markets plays out.  So what will happen with home prices in 2020?

Below are the projections from six different expert entities that look closely at home values: CoreLogic, Fannie Mae, Ivy Zelman’s “Z Report”, the National Association of Realtors (NAR), Freddie Mac, and the Mortgage Bankers Association (MBA).

Welcome to 2020!

Welcome to 2020!  A new year and a new decade could be interesting for the Real Estate Market. A fall presidential election and scuttlebutt about a recession later in the year present difficulty in predicting what might happen.  Here are a few things we can predict:

• There will be people who want or need to sell their homes.
• There will be people who are in the market to purchase a home.
• Projections from mortgage experts such as the National Association of Realtors, The Mortgage Bankers Association, Fannie Mae and Freddie Mac predict interest rates will remain stable.

Watch for more predictions on 2020 Home Sales and Home prices in the coming weeks.

Happy New Year!