Mad City Dream Homes Real Estate Blog, Madison WI

In the current economy, much is being said about rising interest rates. This has home buyers wondering what a mortgage will look like 3 or 6 months down the road. While you may hear conversation about climbing rates, this isn't time to be discouraged. Karen Wedvick, VP and Senior Loan Officer at Johnson Bank, says, "Mortgage rates are at such great levels. It's an excellent time to buy." 

Wedvick understands the fears buyers have about rising rates. She has watched the rates closely, and insists that they are still near historic lows. If you look at rates beginning in the 1970s, and compare them to current years, the evidence is clear. Even so, Wedvick's office has tools available to help bring more certainty to the buying process. Johnson Bank offers

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This year is shaping up to be a great year for people who wish to sell their starter home and buy a larger, more expensive property. The reason is the market for starter homes is very hot and very favorable for sellers right now, while the market for higher priced properties is more balanced and a little easier on buyers. 

Real Estate Market for Madison Move Up Buyers

How the Madison real estate market varies by price range

Take a look at this market data for Madison single family homes. Right now, 60% of all listings priced under $300,000 are under contract with an accepted offer. Above $300,000, only 30% of the listings are under contract. The market clearly favors sellers under the $300,000 price point. Above $300,000, there's less competition for listings, and buyers are having a much

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The city of Verona has seen significant growth over the last few decades, but one thing that has been a constant reminder of its “Hometown USA” charm is the downtown grocery store.

Miller and Sons Supermarket has been the hub of the community for over a century, back when the population was less than 500. Now, more than 13,000 people call Verona home.

Miller's is a place where you can catch up with friends and neighbors, enjoy an old-fashioned sweet treat, support a local cause at a brat fry, and even get help taking your groceries to your vehicle.

The majority of Miller’s customers are regulars, like John and Carol McKinley, who have shopped here ever since they moved to Verona in 1974. Even if they just need to grab a couple of

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The Madison area real estate market is super competitive right now, especially for buyers seeking an affordable property in a popular location. For example, we were recently involved with one local sale which received over 20 offers to purchase. Below we share a few highlights from this sale which show just how competitive the market can be during the spring real estate season. 

competitive real estate market in Madison 

Signs of a competitive real estate market

Here are a few more highlights from this ultra-competitive listing:

  • Every offer (except one) was for at or above the full list price. 
  • One buyer submitted their earnest money with their offer. 
  • Over half of the buyers who wrote an offer also wrote a personal letter to the seller. 
  • One-third of the buyers specified
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What are the hottest price points for Madison area real estate listings? We've taken a close look at the latest MLS statistics and there are 2 clear trends standing out in this year's market.

Madison single family home listings priced under $300,000 are super hot

Take a look at our snapshot below of the Madison single family home market. It shows properties priced under $300,000 have a very high percentage of listings with an accepted offer. Listings priced under $250,000 are especially hot, with over 60% of these properties currently under contract and scheduled to close soon.

What does this data mean for sellers and buyers in 2019? If you're selling a home for under $300,000 in the city of Madison, you have a great opportunity to leverage

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The Mad City Dream Homes team believes local lenders are the most ideal partners to help you with your home purchase. Why? It’s because they often have more flexibility and a quick turnaround time, which can be the keys to a successful real estate purchase in the current, fast-paced market.

The team has worked with all kinds of lenders, and has learned a few things along the way. “I’m always amazed when we have to chase down a loan commitment,” says Chris Venden. This has happened when working with lenders that aren’t local.  They don’t always understand the quick turnaround needed in the Madison area, and they sometimes have multiple layers of red tape that need to be worked through before they can make a commitment. "There is nothing more

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Madison parks can be used in every season, so there is something to enjoy no matter how cold it gets! There are 13 locations around town offering outdoor ice skating, with five maintained by Madison Parks, seven through the Adopt Ice Partnership, and one by both. West side rinks (nine) outnumber the east side (four), but all have their own unique set-up and charm. In comparison, Milwaukee (a city over twice the size of Madison) offers eight locations for outdoor ice skating.

The most important part of skating is having physical skates. If you don’t own a set, you will need to rent a pair. Elver Park, Tenney Park, and Vilas Park are the three facilities that offer ice skate rentals, staffed warming shelters, restrooms, and concessions, so we

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Halfway between Madison and Mount Horeb along Hwy. 18/151 is Verona, one of the fastest growing cities in Wisconsin. Verona’s population has nearly doubled in the last 20 years, hovering around 13,000 people and prompting the school, residential, and business districts in “Hometown USA” to expand.

Jason Stampfli, a 1996 Verona Area High School graduate, recalls shooting hoops in the driveway as a kid and being able to run after the basketball if it bounced into Main Street. With the increased amount of traffic that now comes through the downtown corridor, that’s no longer recommended. However, it was the familiar hometown charm and accessible location that prompted him to return two years ago to open Stampfli Mortgage, LLC on that same street.

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Many of our Madison area sellers are concerned about proper etiquette when they open their door for showings. Our sellers want to be respectful of the buyers who are visiting their home, and they wonder if they should allow each buyer the opportunity to view their home privately, without any other buyers in the house. We get this question a lot, especially during the hot spring market, when buyers are out in droves. 

Home Selling Tips Regarding Multiple Showings 

Should you allow for double-booked showings?

Our short answer to this question is "yes", you should allow for overlapping showings, and for two main reasons. The first reason is you'll expose your home to more buyers when you allow each buyer to tour your home at their requested time. Although it would be nice to grant each buyer a

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Late last year we predicted the Dane County real estate market would be more balanced in 2019, based on the belief that interest rates would rise above 5%. In December, the market did cool as cautious buyers waited out a rocky stock market. The month of January was a different story, however. The stock market stabilized last month and mortgage rates moved lower rather than higher. Local home and condo buyers responded very favorably in January and are very active in the market right now.

Single family home buyers were very active in January

Single family home accepted offers increased in the month of January after decreasing by 19% the month before. As the graph below shows, accepted offers reached the 4th highest total ever for the month of

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