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Tagged : madison real estate

There are currently 183 blog entries matching this tag.

Unfortunately, some sellers do misrepresent or "under-represent" property defects on their real estate condition report. And it happens more often than we'd like to see. Based on our experience, failures to disclose are most likely to happen with For Sale By Owner and Limited Service listings. 

One fairly common omission is a seller's failure to disclose previous water intrusions. We know this because some water problems can be easy to detect. Mildew, water stains, soft wood, and elevated moisture readings are all signs of previous problems. When a seller does fail to disclose a water issue, that's a tip-off to be on the look out for other issues, too. 

 

How to protect yourself from sellers who under-represent

One way you can protect yourself

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Here's a quick look back at the December Dane County real estate market, for both single family homes and condos. Let's jump right into it...

Dane County Single Family Home Update - Dec 2018

New Dane County single family home listings were the lowest ever for the month of December. A total of 211 new listings entered the market, a decrease of 12% from the year before. 

 

A low influx of new listings is keeping the inventory active listings low, too. As of January 11th, only 1.5 months of supply were available for sale on the open market. 

 

Last month, a total of 265 accepted offers were recorded in the MLS - a decrease of 17% from the 321 accepted offers recorded in December of 2017. 

 

Single family home sales were also lower in

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Over the years it's been our observation that the most successful real estate agents assume a strong sense of ownership over their career. These agents know it's not the market that determines their path. It's what they bring to the market. So, how much ownership are you assuming for your real estate career?

You can answer this question yourself by taking a look at the foundation upon which your career is built. Are you continually building and reinforcing your foundation in real estate? Here are 5 ways you can build your own solid foundation and take control of your career.   

5 ways to own your real estate career 

1) Cultivate a positive mental attitude. Many successful agents work constantly on their positive mental attitude which sustains

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You may have heard BMO Harris Bank recently eliminated all of its brick and mortar loan officers. BMO lenders, who once worked out of individual branches, now work out of a call center. Now all customer interactions with a loan officer take place online or over the phone. The face-to-face meeting has been eliminated at BMO.

BMO adopted this new customer service model because it costs less than the old model. It's also a response to evolving consumer preferences, which place a premium on speed and efficiency. Will BMO have a thriving mortgage business 5 years from now? We'll be watching to see how their new approach to service plays out. 

Our thoughts on face-to-face meetings

We understand why companies like BMO are eliminating the

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For a little insight, check out our graph below, which shows the number of accepted offers during the first 11 months of 2018. As the numbers below show, buyer activity is strongest in March, April, and May. Year in and year out the best time to sell is late winter and early spring. If you're planning to sell in 2019, this means the time to start preparing for your sale is right now. 

How to prepare for your 2019 listing

Here are 4 steps you can take right now for a successful listing in 2019. 

1) Contact your favorite Mad City Dream Homes agent. Your agent will help you select the right price point, customize your marketing plan, and identify low-cost cosmetic updates that will improve your home’s value.

2) Schedule your professional

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Thinking of buying a home or condo in the Madison area? We've got three online tools that will help you reach your goals. Learn how to research building permits, research schools, and discover local neighborhoods with these 3 handy tools. 

 

3 helpful tools for Madison area home buyers

City of Madison building permit database

Have you ever found yourself wondering whether or not a home improvement project was completed properly and up-to-code? The city of Madison has a database that allows you to view the permits pulled for any residential property in the city. When you have questions about an individual property, you can research its permit history by visiting this website:

https://elam.cityofmadison.com/CitizenAccess/

State of

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Although our final numbers aren't in yet, we believe December will prove to be a strong month for the Dane County single family home market. Our team has had a very busy December after the market picked up steam the month before. Stay tuned for our December market update. In the meantime here's our quick market snapshot for the month of November.

November market snapshot

The Dane County single family home market had cooled noticeably for 3 straight months but rebounded nicely in November with a 7% increase in single family home accepted offers. According to our MLS data below, accepted offers increased from 326 in November of 2017 to 349 in November of 2018. Last month's increase followed 3 straight months of year-over-year declines, where offers

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Looking back on 2018, we're grateful for another year of growth at Mad City Dream Homes. Thank you to all of you who have referred us to your friends and family in the last year. Our families thank you! We genuinely appreciate the trust you place in us, and we promise we'll keep working to earn your trust in the years ahead.

Looking ahead to 2019, we're excited to share our team is growing in a number of positive ways. Here are a few of the exciting changes we're working on right now at Mad City Dream Homes. 

 

Positive changes at Mad City Dream Homes

1) We're growing with great people

We're very fortunate to have Mark Hewitt, Maureen Moran, and Kietra Olson join our team in 2018. Each person, in their own way, is making us a better and

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We all know there is a seasonal aspect to the market and the spring months typically are the best months for sellers in the Madison area. However, there are some Dane County properties which are always in high demand and can sell quickly any time of year. Here are 10 kinds of properties in the Madison area that benefit from a perpetually strong market. 

 

Hot properties in the Madison area

1) Condos priced under $250,000

The shortage of affordable housing in Dane County has many buyers standing on the sidelines waiting for the right condo to be listed for sale. A nice condo priced under $250,000 is always a hot commodity in our low inventory market. 

2) Homes priced under $350,000

Single family homes priced under $350,000 are also in

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Last year we predicted 2018 would be a clear seller's market in Madison and Dane County. This year we're predicting 2019 to be a more balanced market, characterized by rising inventory and moderate price growth. You can get all of the details by viewing our 10 predictions for the 2019 market below. 

Our 2019 Madison Real Estate Predictions

#1: Foreclosures will rise. 

Foreclosures have been quietly rising in 2018, and we expect more of the same in 2019. This means more distressed properties will become available for sale in the coming year, but not enough to appreciably impact inventory in the Madison area.

#2: New home and condo construction will plateau. 

Madison area housing starts have been flat in 2018, and this trend will continue

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