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        <title>Mad City Dream Homes Real Estate Blog, Madison WI</title>
        <link>https://www.madcitydreamhomes.com/blog/2015-01/</link>
        <description>Your Madison WI real estate blog. News &amp; views about Madison area homes, condos &amp; South Central Wisconsin real estate. Questions? Call 608-852-7071</description>
<item>
    <guid>https://www.madcitydreamhomes.com/blog/frostiball-celebrates-madisons-local-arts-scene.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/frostiball-celebrates-madisons-local-arts-scene.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Frostiball Celebrates Madison's Arts Scene</title>
    <description> <![CDATA[ 
Whether it’s the grace of a dance troupe, the beauty of an orchestra’s music filling the air, an innovative story told by a theater group or the complexity of local art, Madison enjoys a vibrant arts scene.


But did you know that this collection of artists and entertainers are improving the city’s economic health?


Overture Center for the Arts brings world-renown artists to Madison, contributing to the city’s entertainment prospects, and its bottom line. It’s estimated that $10 million dollars enters the city annually as a direct result of people attending Overture’s programs. “The city benefits from an artistic scene. It’s one reason people choose to live here. It gives employers another tool for recruiting employees, and adds the “creative class” to the Madison population,” says Rob Chappell, spokesman for Overture.


Chappell stresses that Overture’s programs are for everyone. From Kids in the Rotunda, to the Overture OnStage program for students, Overture strives to make the arts available to all ages and all incomes. But this doesn’t come without expense. Overture fundraises to support these programs, and to bring high quality arts and entertainment programs to Madison.


This Saturday, you can support the arts in Madison by attending Frostiball, an unforgettable evening at Overture Center for the Arts. The festivities begin at 8 p.m., and run to 11 p.m., with an After Party from 11 p.m. to 2 a.m., sponsored by Isthmus. Guests will enjoy cirque performers from Chicago’s Shore Circus, dance music from the band Platinum, and live music in Promenade Hall. Tickets include flowing champagne, beer, wine and hors d’oeuvres.


Tickets are $75 or $125, depending on if you’ll stay for the Isthmus After Party, featuring local DJ Nick Nice.


Frostiball is presented by Overture Center for the Arts in partnership with Downtown Madison, Inc. It is sure to be an entertaining evening, benefitting the arts.
 ]]> </description>
    <pubDate>Thu, 29 Jan 2015 06:10:00 -0600</pubDate>
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<item>
    <guid>https://www.madcitydreamhomes.com/blog/interviewing-listing-agents-three-important-questions.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/interviewing-listing-agents-three-important-questions.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Interviewing Listing Agents? Here are Three Critical Questions</title>
    <description> <![CDATA[ 
Getting ready to sell your home? If you're like many home owners, you want to hire a real estate agent who has the experience that comes with selling many properties. Experience is important. Results are important, too. When it comes to results there are three key questions you can ask during the interview process:




What are the odds your home will sell?


How long will it take to sell your home?


How close will your selling price be to your list price? 




We recently dug into these questions by reviewing listing data from the South Central Wisconsin MLS. We focused our review on the top 26 listing agents in South Central Wisconsin (based on 2014 sold listing volume). Our analysis covered listings for single family homes. To keep the data consistent, we excluded condos and new construction. 


What we found is performance varies tremendously from agent to agent. As you will see in the numbers below, selling more homes doesn't necessarily translate into achieving better results. Surprisingly, some top-selling agents actually expire more listings than they sell. Other top-producers have an average sales price that is more than 10 below the list.


On the flip side there are a few Madison real estate agents who consistently outperform the competition. These top-performing real estate agents have very few listings which expire. In addition the top-performers sell most of their homes quickly and for prices very close to the list.


We've summarized the results for all 26 agents below. For each statistic we've ranked the agents and also calculated the MLS average. Note we've blinded the results to keep the focus on the numbers, not the agents. 


Interview question 1: What is your listing success rate?


This is perhaps the most fundamental question you can ask a real estate agent. After all, you want to hire a real estate agent who has a strong track record of getting homes sold. 


A listing can either sell or it can expire without selling. The listing success rate measures how often an agent's listings sell. The higher the number, the better. Here's how you calculate the listing success rate:


listing success rate = ( of sold listings)/[( of sold listings) + ( of expired listings)]


A high number reflects strong performance, and the top-performing real estate agents in our study had listing success rates above 80. These agents had at least 4 listings sell for every listing that expired.


The lowest performing agents had listing success rates below 50. In other words, the lowest performing agents had more listings expire than sell. Although these agents were among the top-selling agents for all of 2014, they were also among the &quot;most-expiring&quot;. 


The average listing success rate across the entire South Central Wisconsin MLS was 64.5. In other words, across the entire MLS roughly two listings sold for every listing that expired. This number makes it clear you don't want to settle for an average listing. Hire an agent whose performance is much better than the norm.


How can you determine an agent's listing success rate? One way is to ask the agent for the percentage of his listings that sell. A better way is to ask the agent for a list of all properties he's sold and expired over the last year. You can use the list to easily calculate his success rate. The list will also give you a good feel for the types of properties your agent has experience selling.


Interview question 2: What is your average days on market?


The &quot;days on market&quot; is another key performance measure. This measure reflects the number of days that pass between the listing date and accepted offer date. The lower the number, the better. You want to hire an agent who has a strong track record of selling properties quickly.


The best-performing agents in our study had an average days on market well below 60 days (two months). Within this group the top two performers had an average days on market of 21.3 and 32.5 days (about one month and under).


The average days on market for the entire MLS was 95 days (about 3 months). If you're like most sellers you don't want to wait three months to receive your accepted offer. You want your property to sell much more quickly than the average listing.


How can you figure out how long it takes an agent to sell his listings? Once again, ask the agent for the list of properties he's sold over the last year. Then review the days on market for each property - and ask questions.


For the properties that sold quickly, what were the keys to success? For the properties that took longer to sell, what were the reasons? More often than not the reasons will center around pricing. 


If you see a long list of properties with a very high days on market, that could be a red flag and an indication of consistent over-pricing. When properties are priced too high, they will sit on the market. And when properties sit on the market they will have price reductions.


Which leads us to our third key question...


Interview question 3: What is your average sales price as a percentage of the original list price?


This measure is all about the money. As a prospective home seller, the last thing you want is a long series of price reductions with a contract price that is tens of thousands of dollars under the list. You want some assurance your home will sell for a price that is very close to your original list price.


The key phrase here is &quot;original list price&quot;.


Unfortunately this statistic is most often quoted as the sales price as a percentage of the most recent list price. This version of the measure can be misleading because it ignores price reductions. Seek clarification when an agent quotes her sales price as a percentage of the list. Make sure the agent's performance is based on the original list price, not the most recent list price. This quick example shows why. 





In the above example the sales price as a percentage of the most recent list price is 99. This number sounds very impressive but it's also very misleading. The better and more transparent way to calculate this measure is to base it on the original list price. Using the original list price as the basis for this calculation, this agent's ratio is only 90 (not so impressive). 


Using the original list price as the basis for our calculation, our study showed results varied significantly from agent-to-agent. The top-performing real estate agents in our study had an average sales price that was within 3 percent of the original list. The lowest performers had an average sales price more than 10 percent below the original list. The average for the entire MLS was almost 7 percent under the original list.


When you apply these percentages to a $300,000 listing the numbers get very interesting. For a $300,000 listing, the top performers will sell the home for within $9,000 of the original list. The average performers will sell the home for about $20,000 under the list, while the lowest performers will sell the home for more than $30,000 under the list.


Data Summary - Three Pictures of Agent Performance


The best listing success rate was 95.5. The average was 64.5. The lowest success rate was 47.8.





The lowest days on market was 21.3 days. The average was 95 days. The highest was 391 days.





The highest sold price as a percentage of the original list was 98.1. The average was 93.2. The lowest was 81.7.





The Best Performing Real Estate Agents


There were 3 Madison real estate agents in our study who consistently out-performed the competition across all 3 measures. Agents who performed well in one area tended to perform well across all three.


 


It's also interesting to note our study included several brokerages with a discount/limited service model. None of these discount brokers were among the top-performers. All of the top-performers were agents with a full-service brokerage model. 


The Lowest Performing Real Estate Agents


When we took a closer look at the lowest-performing agents, we expected this list to be made up entirely of limited service/discount brokers. Surprisingly, all of the lowest performers were agents with a full-service real estate model. The discount/limited service brokers performed better than expected with one broker cracking the top 10. The best-performing discount/limited service broker ranked 9th out of 26. The 3 other discount/limited service brokers ranked 14th, 16th, and 22nd





Factors that can Influence the Numbers


When comparing real estate agents it's important to understand how one agent's client base differs from another's. An agent's geographic market and typical price point can impact all 3 statistics. For example, an agent with a focus on rural properties will tend to score lower on all three measures when compared to an agent whose focus typically includes properties in central Madison. Likewise, an agent with a focus on luxury properties will often rank lower when compared to the agent whose average price point is $250,000.


Tips for Hiring the Right Listing Agent


The data shows results can vary tremendously from agent to agent. Top-producing or not, there are some outstanding agents in our market who consistently deliver exceptional results. You can use the three statistics above to help you know when you've found one. Many home owners end up hiring a friend or relative to sell their home. It can be comforting to hire someone you already know, but the numbers show it's important to do your due diligence, too. Asking the right questions will help ensure you hire the right person.


Here are 10 great questions to ask your future listing agent:




Why are you in real estate?


What sets you apart from other listing agents?


How many properties have you sold in the last year?


How many listings have you expired?


What is your listing success rate, your days on market, and your average sold price compared to the original list?


How do you go about pricing a home?


Can you share your detailed marketing plan with me?


Does your marketing include professional staging, professional photos, and professional video?


Who pays for your marketing costs, you or your client?


Can you provide me with references of recent home selling clients?




This last question is particularly important. Be sure you check for references. Talking to a few previous clients can provide some great insight into the type of service you can expect from your agent.


Another great step you can take is to ask for an online link to your agent's sold and expired listings. Take a close look at the listings and be sure they include quality staging, crisp photos, and full-motion video tours. Look for creative listing descriptions. Form your own impressions about the presentation of each listing. Is it apparent your agent invests a significant amount of time, thought, and money into his listings? If the answer is &quot;yes&quot;, you've probably found the right one.
 ]]> </description>
    <pubDate>Sun, 25 Jan 2015 05:52:00 -0600</pubDate>
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<item>
    <guid>https://www.madcitydreamhomes.com/blog/the-polar-dash-keep-your-new-years-resolution.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/the-polar-dash-keep-your-new-years-resolution.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>The Polar Dash: Keep your New Year's Resolution</title>
    <description> <![CDATA[ 
Could pulling a sled help you with your fitness goals? What about an obstacle course? It’s no secret that our nation faces an obesity epidemic, and kids are included in the latest statistics. It’s with this in mind that Physicians Plus, Meriter and Madison Moms blog have joined forces. They created the Polar Dash- an annual event designed to encourage kids and their families to be active, even in the cold. On January 24, the 8th Annual Polar Dash will take place at the Meriter Monona Clinic (6408 Copps Avenue, Monona).  Kids, ages 12 and under, are invited to participate in a race, where they pull a sled (or perhaps a wagon, if the snow is melted), carrying a plush polar bear. Outdoor hula hooping, an obstacle course and bean bag toss create additional ways to expend energy, and encourage fitness.


“Our goal is to not only give families an opportunity to be active that day, we’re hoping they use this as a jumping point to find creative ways to be active as a family year-round,” says Leah Huibregtse, Senior Communications Strategist at Meriter-Unity Point Health. “People often think they need to be at a gym or part of an organized sport to get exercise. Just playing and running around as a family can be just as healthy.”


In addition to the exercise, Meriter doctors will be on site to provide head-to-toe check-ups at the Teddy Bear Clinic. Kids can bring their favorite toy, and see what a doctor’s check-up is all about. The Polar Dash is free, and runs from 10 a.m. to Noon. Registration is available online or at the event.





Fitness opportunities don’t end here. Several Madison area gyms are offering classes specifically for kids to exercise. The Dane County YMCA  and Madison School Community Recreation both offer programs for the entire family, and CrossFit Connex includes weekly classes designed to keep kids active and entertained.  Winter weather is no excuse to be a couch potato…..get moving and enjoy all that Madison has to offer
 ]]> </description>
    <pubDate>Wed, 21 Jan 2015 04:28:00 -0600</pubDate>
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<item>
    <guid>https://www.madcitydreamhomes.com/blog/are-zestimates-and-assessed-values-accurate.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/are-zestimates-and-assessed-values-accurate.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Are Zestimates and Assessed Values Accurate? </title>
    <description> <![CDATA[ 
Zillow is a tremendously popular website with a ton of bells and whistles. One of the more popular features of the site is the &quot;Zestimate&quot;, which Zillow uses to approximate a home's market value. We speak to many sellers every year about the market value of their property, and very often they are well aware of their Zestimate. People ask, &quot;Is my Zestimate accurate?&quot; Very often the answer is no, because the Zestimates are grossly overstated (see our data toward the bottom of this post).


Another common discussion point with sellers is their property's assessed value. We're all aware of our own property's assessment. It's used to calculate our annual tax bill. But is there any relationship between a property's assessed value and it's true market value? Can and should we use the assessed value to price a home? Let's take a closer look at assessed values and Zestimates below.


Why Assessed Values and Zestimates Don't Work


Market values are determined by what ready and able buyers are willing to pay for a home. Buyers assign value by viewing and closely examining the properties that are available for sale in their market. They compare the amenities, finishes, floor plans, functionality, size, and quality of each home. Buyers review real estate condition reports. They also evaluate the location of each property in relation to the local parks, schools, and shopping districts. Before they write their offer, they work with their agent to evaluate all of the recent sales in the area. They also assess the likelihood of whether or not the property they are writing on will receive competing offers. They process all of this info (and more) before they submit their offer to purchase.


Assessed values and Zestimates don't work because they are based on formulas, and formulas can't process the type of information that a buyer does. For example, formulas can't discern the condition and quality of a home, how a floor plan affects a home's value, or how a property's proximity to a large apartment building impacts its worth.


Another weakness of formulas is they are static in nature. Assessed values in Madison are updated annually using data from the year before. The real estate market, on the other hand, is always in a state of flux. Even if a property's assessed value is accurate, it soon becomes outdated because the real estate market is constantly changing.


Buyers are able to stay on top of market changes because they are always working in the present. Buyers working with a buyer agent know when new listings arrive on the scene, when prices change, when properties receive accepted offers, and when houses sell. They know whether or not their target neighborhood is located in a hot market or a cold market.


Dangers of Using Zestimates and Assessed Values


As our data shows, as well as more comprehensive data from the Washington Post, the Zestimate doesn't provide a reliable formula for pricing a home. Yet time and time again we see sellers pricing their home based on a formula. It's human nature. We put our faith in the formula that supports the price we want, rather than using the information that shows what the market will bear. This leads to over-pricing, longer marketing times, and frustration. As we've covered before, over-priced homes net less at the closing table than the properties that are priced properly from the start.


More Common Pricing Mistakes


There are other ways that sellers can get their pricing wrong. These include the following:




Placing too much emphasis on the price per square foot


Going with the agent who tells you what you want to hear, instead of heeding the advice of the agent who tells you what you need to hear


Pricing based on your mortgage balance


Assigning too much value to your home maintenance and home improvements


Using a previous appraisal


Ignoring seasonality


Ignoring school attendance areas




We'll be covering these common pricing mistakes in more detail soon.


The Best Way to Price your Home


The best way to price your home is to ask your real estate agent to complete a comparative market analysis (CMA) for you. A good market analysis will analyze your neighborhood market along all of these dimensions:




Recent sales in the neighborhood


Current listings with accepted offers


Current listings without accepted offers


The months of inventory (or absorption rate) in your neighborhood


The effect of seasonality on your pricing




We'll cover the steps that go into a good market analysis in the near future.


So how accurate are those Zestimates?


To answer this question, we pulled the first 28 Dane County single family home sales recorded during the 2015 calendar year - courtesy of the South Central Wisconsin MLS. For each transaction, we compared the property's sold price to its Zillow estimated value. Here's a summary of results.




Twenty-six of the 28 properties had a Zillow estimated value. Two of the properties did not.


Twenty-two of the 26 Zestimates were higher than the sold price (85). Only 4 Zestimates were below (15).


The largest discrepancy on the low side underestimated true market value by more than $258,000.


The largest discrepancy on the high side overestimated true market value by more than $106,000.


Only ten of the Zestimates were within plus or minus 5 of the selling price (38). See the properties shaded in green below.


The remaining 62 of the Zestimates varied from the selling price by more than 5 (see the properties shaded in yellow below). Although two of the Zillow estimates underestimated market value by more than $250,000, the Zestimates for this group of properties were strongly biased toward over-estimating true market value.


Overall, the Zestimate median variance from true market value was a whopping $35,377.







How accurate are assessed values?


We took a second look at the same transactions outlined above. For each transaction we compared the assessed value from Access Dane to the actual selling price of each property. Here are the results.




Eighteen of the 28 transactions had an assessed value at or above the sales price (64). Ten of the assessed values were below (36).


The biggest discrepancy on the low side underestimated true market value by more than $369,000.


The biggest discrepancy on the high side overestimated true market value by more than $81,000.


Thirteen of the assessed values were within plus or minus 5 of the selling price (46). See the properties shaded in green below.


The remaining 54 of the assessed values varied from the selling price by more than 5 (see the properties shaded in yellow below).


Overall, the assessed value median variance from true market value was $10,750. By and large the assessed value was more accurate than the Zillow Zestimate. However, neither the Zestimate nor the assessment served as a reliable list price for most of the homes in our sample. 





 ]]> </description>
    <pubDate>Fri, 16 Jan 2015 06:26:00 -0600</pubDate>
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<item>
    <guid>https://www.madcitydreamhomes.com/blog/eight-ways-to-sabotage-your-sale.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/eight-ways-to-sabotage-your-sale.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Eight Ways to Sabotage Your Sale</title>
    <description> <![CDATA[ 
Planning to sell your home? As a home seller most of your success is due to the planning and preparation that you put into your listing well before it ever hits the MLS. Consult with a trusted real estate agent several months in advance of your anticipated sale. Get a solid game plan in place for your pricing, staging, and marketing. Your advanced planning and preparation will pay off big-time when your home hits the open market. 


Eight Seller Mistakes


This list is inspired by Massachusetts REALTOR Bill Gassett's excellent post on top home seller mistakes. Check out his article for more advice. Stop the sabotage, and avoid these common listing mistakes.


1. Advertising your pets


Many of us are pet lovers, but that doesn't mean we love other people's pets, especially in the home we are about to buy. Many buyers have pet allergies. Others simply don't like dogs or cats. If you have a pet and you're selling your home, be sure you minimize the fact that your furry little friend shares your home with you.


First and foremost this means you should eliminate any evidence of your pet from your listing photos. Have a plan to remove your pet for all showings. And be sure to keep Fido's food dish and water bowl out of plain view. The same goes for Muffy's litter box and toys. Remove framed photos of your pet so they don't become a point of focus. And of course, keep your yard clean.


 


2. Ignoring staging


This is one of the most critical and most common home seller mistakes. Your staging provides the foundation for your entire listing. Superb staging is a must have for killer listing photos and video. It creates an awesome online presentation for your listing, gets you more showings, and helps you sell your home quickly and for a high market price. Be sure you consult with a professional home stager well before you put your home up for sale. Then follow your stager's recommendations. Take some before and after photos. You'll be amazed by your home's positive transformation. 





3. Overpricing


Overpricing is the most common and perhaps the most costly listing mistake. Very often it plays out something like this: Mr and Mrs Seller list their home during the hot spring market. Mr and Mrs Seller overprice their home. The peak buying season passes without any offers, so the Sellers finally lower their price in the late summer. By this time the market has cooled off considerably and the new price is still too high. The house sits on the market through the fall, and so the Sellers - somewhat desperate - lower their price one or two more times during the cold winter market. Once again the Sellers are behind the curve, and the house sits on the market through the holiday season. Finally, the market begins to warm on the other side of the holidays. That's when Mr and Mrs Buyer come along and make their offer. The Buyers are thrilled by the great deal they're getting on their new home. The Sellers, exhausted by their journey, are relieved to move on.





4. Using amateur listing photos


Bad photos do more harm than good. In fact you're almost better off posting no pictures at all than to market your listing with poor photos. Remember, your first showings occur online, not in person. And photos are a buyer's primary focus when viewing online listings.


Unless your agent is a very skilled photographer, your listing pictures should be outsourced to a professional who specializes in real estate photography. A professional photographer will ensure your exterior photo and every one of your rooms look their very best online. Ask your agent whether or not she includes professional photos as part of her marketing, and take a look at her listings to make sure the photos are high quality. 


Thanks to TerribleRealEstateAgentPhotos.com for sharing this beauty below. Unfortunately, you'll find many more photos like this one just by searching the MLS. 


 


5. Selling your home while it's rented


Nothing says &quot;don't buy me&quot; more than a rented listing. You and your tenant have different motivations. You want to sell your home; your renter wants to live in it. Unless you have a dream tenant, it's next to impossible to stage a rented property. A rental simply feels like a rental.


Rented properties tend to have poor listing photos, and they tend to be ill-prepared for showings  (see photo below). Rentals can also be inconvenient to show. Most showings require at least 24 hours advance notice. Some tenants won't accommodate showings while others will cancel at the last minute.


Unless you're selling an income property you should put your home on the market after the lease is over. Once the lease is over you can control the circumstances of your sale rather than you being at the mercy of your tenant.





6. Marketing your home as a craigslist special


Craigslist can be a very legitimate source for very legitimate buyers (we advertise all of our listings here). But if it's your only form of marketing watch out. You'll be approached by a disproportionate share of low-ballers. 


There is a segment of the population out there (investors) that is constantly on the lookout for FSBO and craigslist sellers. After all, craigslist is the place to go for a great deal. These buyers know you're not represented, and they assume your home can be had for a below market price. If craigslist is your only marketing tool, you'll have a hard time realizing the true market value of your home. And you could become a reluctant landlord by default. Don't be penny-wise and pound-foolish. Invest in marketing that exposes your home to all of the buyers in your market. 





7. Refusing to work with buyer agents


If you're selling FSBO, a buyer agent can be your best friend. After all, she is bringing you a pre-approved buyer. She's well-versed in all of the local real estate laws, and she knows how to properly complete all of the required forms for your transaction. In fact she will end up doing a fair amount of your work for you. You are already saving on the listing side commission. As a FSBO seller, what more could you ask for?





8. Hiring and firing


One sure way to sabotage your sale is to hire and fire a series of agents whose plans are doomed to fail from the very beginning. This leads to nothing more than a long history of expired listings and a whole lot of frustration. If your listing has been a tough sell over the last few years, know that you can get your home sold. A listing can almost always be fixed through some combination of better staging, better photos, and better pricing. 


There is no amount of marketing that can sell a severely over-priced home, but there are always a few agents who are willing to give it a shot. A better approach is to do your due diligence and hire a real estate agent you can trust. Be open to your agent's opinions and recommendations. Have a dialogue. Agree on a plan. Then carry it out. 





Related Articles


For more home selling tips, check out these excellent posts from these real estate bloggers:




What is the Secret to Selling your Home for Top Dollar - by Anita Clark


Top 10 Things You Need to Know Before Selling a Home - by Kyle Hiscock


The Best of the Best Advice for Home Sellers - by Karen Highland


 ]]> </description>
    <pubDate>Mon, 12 Jan 2015 13:21:00 -0600</pubDate>
</item>
<item>
    <guid>https://www.madcitydreamhomes.com/blog/celebrating-winter-on-the-ice.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/celebrating-winter-on-the-ice.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Groove and Glide Makes Icy Weather Fun</title>
    <description> <![CDATA[ 
Imagine music, lights, disco balls and glow sticks. Put all of this on ice, and you have a fun and free family event every weekend at Madison Parks. Called “Groove and Glide,” the ice skating event travels from park to park throughout the winter. This year skaters can even join Bucky and the UW Women's Hockey Team at one of the events. Groove and Glide makes stops at Vilas, Tenney, Elver and Westmorland parks. Enjoy a few laps around the rink, and warm up with hot chocolate or a cappuccino. Concessions are available for purchase at every location except Westmorland, and skate rentals can be obtained for $6 for adults and $3 for skaters under age 14. After the first hour, skate rentals can be extended for $2.


The current schedule includes:


Friday, Jan. 9, 6-8 pm at Elver Park Sunday, Jan. 18, 11:30-12:30 p.m. at Vilas Park (Special appearance by UW Women’s Hockey Team and Bucky) Friday, Jan. 23, 6-8 pm at Westmorland Park Friday, Feb. 6, 6-8 pm at Vilas Park Friday, Feb. 20, 6-8 pm at Tenney Park


In addition to the Groove and Glide parties, Madison parks maintains up to 12 skating rinks each year for the community's enjoyment. Open skating hours and availability of skate rentals and concessions vary depending on the location. For more information on ice skating in Madison, or Groove and Glide, visit the Madison Parks website. 
 ]]> </description>
    <pubDate>Fri, 09 Jan 2015 06:39:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/calling-for-condos-and-dialing-for-domiciles.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/calling-for-condos-and-dialing-for-domiciles.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Calling for Condos and Dialing for Domiciles</title>
    <description> <![CDATA[ 
We recently posted on how you and your buyer agent can collaborate to find an off-market property before the general public knows it's available for sale. Blanketing a neighborhood (or condo development) with a personal letter is an excellent strategy for beating the competition to a great home in a popular location. 


Another effective method is to ask your agent to call the households in your preferred neighborhood. Similar to the personal letter, an effective phone call campaign allows you to connect with property owners who are planning to sell in the near future. Here are a few tips for a successful phone call campaign, which we've learned through trial, error, and on-the-job education.


Five Tips for an Effective Phone Call Campaign




Your agent should create a short script about you and your home search. The script should mention your first name as well as a few details about what type of home you'd like to buy. These personal touches signal to sellers you're a legitimate buyer, and that the agent calling on your behalf isn't just telemarketing the neighborhood for new listings. 


For best results, your agent should use a telephone number database that is designed specifically for this type of project. Our real estate team uses the Cole Realty Resource database. This is an excellent resource for identifying the names, addresses and telephone numbers for residents who live in a specific geographic location. With the Cole database your agent can pull all of this information based on a map-based search. She can also screen for telephone numbers listed on the do not call registry. 


Another best practice is to load all of the telephone numbers into a phone dialer such as Vulcan7. With a Vulcan7 call list, your agent can make her phone calls in an efficient fashion while easily keeping track of which home owners answer and which do not. For the property owners who don't answer, your agent can leave a pre-recorded voice message. The voice message will prompt potential sellers to call back. 


A phone call campaign is especially effective when used in combination with a letter campaign. Your agent will uncover more leads by 1) blanketing your target neighborhood with a letter about your search, and 2) following up your letter with your phone call campaign.


Your real estate agent should also call the neighborhood/condo association manager for your preferred location. Quite often the association manager is the one of the first people to know about an owner's plans to sell.




A Sample Phone Script


Here's a phone script that works very well. It's short and sweet with a few personal touches. With this script your agent can expect to uncover one solid lead for every 20 to 25 contacts. 


&quot;Hi, thanks for taking my call. My name is _______________ from _________________. I’m calling on behalf of my clients, _________________ and _______________, who are looking for {mention a few details about the home search here}. They've seen everything on the market in the neighborhood already, and they’re still looking for the right home. Do you know anyone in the neighborhood who has been thinking of selling but hasn't put their home on the market yet? If so, I’d be happy to introduce ___________ and ___________ to their home.&quot;


A Sample Pre-Recorded Message


For the home owners who don't answer the phone, your agent can leave a pre-recorded message like the one below in order to generate call-backs. 


&quot;Hi, my name is ______________ from ______________. I’m calling on behalf of my buyers, _____________ and _____________, who are looking for {mention a few details here}. They've seen everything on the market already, and they’re still looking for the right home. Please call me at __________________ if you know anyone in the neighborhood who has been thinking of selling. I’d be happy to introduce ______________ and ______________ to their home. Thanks for your time and for thinking of my buyers.&quot; 
 ]]> </description>
    <pubDate>Thu, 08 Jan 2015 04:35:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/when-is-the-best-time-to-sell-your-home.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/when-is-the-best-time-to-sell-your-home.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>When is the best time to sell your home?</title>
    <description> <![CDATA[ 
When is the best time to put your home on the market? Here's the short answer: by March 1st.


Each year the Madison real estate market quickly shifts from a buyer's market (in November and December) to a seller's market (in late winter and early spring). The graph below, which shows buyer activity by month, makes this abundantly clear. Although many local homes and condos sell each month, the house-hunting frenzy is strongest during the months of March, April and May. Now that we've made our way through the holiday season the market in early January is already heating up. We're seeing more showing activity right now than we did a month ago.


Madison Accepted Offers by Month - Homes and Condos



 


Why March 1st is a Great Time to List your Home


If you put your home on the market around March 1st, you'll be listing your home at a time when the buyers are already out in droves. You'll have relatively few competing listings to contend with because many sellers choose to list later in the year when the weather is warmer. Plus, listing your home in early March will give you some wiggle room to get your pricing right. If you do need to make a price adjustment, you'll have time to make your change while the market is still full of buyers.


If you choose to wait until May, you'll have many more competing listings at that time than in the month of March. Also be sure you get your pricing right, because buyer activity will begin to decrease shortly after you put your home up for sale.


More about Pricing in the Late Winter/Early Spring


Generally speaking you'll net the most at the closing table when you price your home properly from the start and without any price reductions. With that said, in some cases it's worth riding the momentum of the market and reaching for a price that is above what the recent sales in the area suggest. We call this &quot;pricing on the leading edge&quot; of the market. This can be an effective spring market tactic in popular neighborhoods where inventory is low and demand is very strong. 


You and your agent will want to make an informed decision before you price on the leading edge. You'll want to take into account the months of inventory in your neighborhood, the pending sales in your area, the number of competing listings, and the likelihood that your property will appraise out at your price. Then once your home is on the MLS you'll want to make sure your buyer feedback and showing activity justify your price. If they suggest a price reduction, you should quickly adjust your price while the market is still full of buyers.


Photos in the Late Winter/Early Spring


Your curbside photo should reflect the current season so you always have the appearance of a &quot;fresh&quot; listing. If there is snow on the ground when you list your home, your exterior photo should have snow in it, too. Your agent can easily update your listing with a snow-free photo once all of the winter snow has melted. 


Your agent can also supplement your marketing with summer photos that show your yard when it's in full bloom. He can do this in several different ways:




by including a few summer shots as the last photos in your listing


by displaying a portfolio of photos at your property


by adding electronic images to a rotating slide show at your home




No matter when you put your home up for sale, buyers should always have an opportunity to see pictures of your yard from the summer season.


You can't always control when you sell...


But your odds for achieving a quick sale and a high market price are excellent in the late winter and early spring. Every situation is different. Please feel free to contact us to discuss the unique circumstances of your sale. For related articles, check out these excellent posts by real estate agent Paul Sian and the Keeping Current Matters blog.
 ]]> </description>
    <pubDate>Sun, 04 Jan 2015 06:21:00 -0600</pubDate>
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