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        <title>Mad City Dream Homes Real Estate Blog, Madison WI</title>
        <link>https://www.madcitydreamhomes.com/blog/2022-12/</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/our-2023-real-estate-predictions-in-less-than-100-words.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/our-2023-real-estate-predictions-in-less-than-100-words.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Our 2023 real estate predictions in 100 words or less</title>
    <description> <![CDATA[ 
Here's our take on 2023:


Demand will remain strong relative to most other markets across the country -- due to Dane County’s growing population and reputation as a wonderful place to live, work, and play. 


Supply will gradually grow and will provide more options for buyers in 2023.  


Prices will remain strong. 


Dane County will continue to be an excellent place to build wealth through real estate -- for those who have the means and make the decision to buy in. 


You can learn much more about our predictions by contacting our team or by reading the full article on our blog. 
 ]]> </description>
    <pubDate>Sat, 31 Dec 2022 07:39:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/if-you-found-your-dream-home-today-what-would-you-do.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/if-you-found-your-dream-home-today-what-would-you-do.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>If you found your dream home today, what would you do?</title>
    <description> <![CDATA[ 
If you could imagine a better future for you and your loved ones, 


If you could envision peace of mind, 


And if you could afford it right now,


What would you do?


Would you buy your dream home today? Or would you delay your purchase and wait for a different kind of market?


We're always available to talk about your future and the future of real estate, too. So please reach out to our team whenever you're in need of a real estate conversation. We'll share our honest insights and opinions with you, and help you choose the path that's the right one for you. 
 ]]> </description>
    <pubDate>Fri, 30 Dec 2022 07:12:00 -0600</pubDate>
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<item>
    <guid>https://www.madcitydreamhomes.com/blog/4-things-to-clean-as-you-prepare-your-home-for-sale.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/4-things-to-clean-as-you-prepare-your-home-for-sale.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>4 things to clean as you prepare your home for sale</title>
    <description> <![CDATA[ 
We recently shared 5 simple cosmetic updates that add instant value to your home and help it sell for a tremendous price. Another simple and very effective update is to deep clean your home. Specifically, these four things:


Clean all of the hard surfaces inside your home. 


Your home will shine when you clean your countertops, your cabinets, your appliances, and your hardwood and tile flooring.





Clean your windows


Spotless windows let the light pour and make each room feel bigger and brighter. 


 


Clean your carpets


Clean carpets help buyers see your home as one that has been properly cared for and well-maintained.


 


Clean your siding


A good painting company will wash your siding for an affordable price and add instant curb appeal to your home. 


 


Do you need some sound guidance on how to prepare for your sale?


We're here to help you with your staging plan, cosmetic updates, and your cleaning plan, too. Just reach out to our realtor team for a consultation that's focused on a top-dollar sale for your home. We're also happy to connect you with our trusted contractors who will do a great job for you and for a fair price. 
 ]]> </description>
    <pubDate>Thu, 29 Dec 2022 05:34:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/5-easy-ways-to-improve-your-homes-value.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/5-easy-ways-to-improve-your-homes-value.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>5 easy ways to improve your home's value</title>
    <description> <![CDATA[ 
Are you getting ready to sell your home in 2023? There are so many simple and affordable ways to improve your home's value. For starters, here are 5 quick updates, which when done in the right way, always provide a great return on investment:


1) Brighten your space with a fresh coat of paint. 


2) Replace dated flooring with a modern and inexpensive flooring product.


3) Jazz up your kitchen with new cabinet hardware. 


4) Swap out old light fixtures with new and affordable light fixtures. 


5) Remove dated curtains and blinds and let the natural light pour in. 


We're always available for a complimentary cosmetics consultation. And we're here to help you select finishes, choose colors, and connect you with quality contractors, too. Just reach out to your Mad City Dream Homes realtor to get started. We'll give you all the time you need and help you succeed in the 2023 real estate market. 
 ]]> </description>
    <pubDate>Mon, 26 Dec 2022 05:18:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/madison-area-condo-prices-jump-higher-in-november.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/madison-area-condo-prices-jump-higher-in-november.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Madison area condo prices jump higher in November</title>
    <description> <![CDATA[ 
What's trending in the Madison area condo market? Our latest Dane County condo update offers a nice summary of all of the latest trends, and without any exaggeration or spin. 


Madison area condo prices


The median price for a Dane County condo increased by 12 percent year-over-year while the price per square foot increased by 20 percent. Why do Dane County condo prices continue to rise? One big reason is the recent slowdown in new MLS listings (covered in the next section below). 


 


New condo listings


Only 78 Dane County condos were listed for sale in November, which was the second lowest total on record for the month, and a decrease of 24 from the number of new listings in November of 2021. Mortgage rates have increased in 2022, which has caused some condo owners to put their selling plans on hold. 


 


Active condominium listings


The number of available (or active) listings right now is actually slightly lower than the number of available listings at the same time last year. Low supply is one of the key reasons why we expect Madison area condo prices to remain strong in 2023. 


 


Accepted offers


The number of condo listings that went under contract decreased by 24 year-over-year, and by 14 through the first 11 months of the year. 


 


Condo sales


Sales decreased by 21 in November and were lower by 12 through the first 11 months of the year. 


 


Expired listings


Expired listings continued to trend along record-low levels in the month of November.  


 


Days on Market


The average days on market also came in at a record low. 


 


What does the future hold for the Madison condo market? 


This may come as a surprise to some, but we're predicting another year of strong prices and low inventory in 2023 (and for the foreseeable future).


If you're thinking of buying or selling in 2023, you're likely to have questions. So we encourage you to please reach out to us anytime you would like some guidance on buying or selling in the Madison area. We'll give you all the time you need and talk about how you can succeed in next year's market. 
 ]]> </description>
    <pubDate>Thu, 22 Dec 2022 06:51:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/nonprofits-we-supported-throughout-2022.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/nonprofits-we-supported-throughout-2022.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>A look back at the causes we supported in 2022</title>
    <description> <![CDATA[ 
** This article was originally written by Samantha Haas while a member of our team. You can learn more about Samantha and her work here. 


Two years ago, our team made a commitment to become more intentional about the ways in which we spend our money and time on a local level. As we reflect on another year of investing in the communities we serve, we wanted to share a few updates from some of the organizations that we’ve volunteered for, collaborated with, donated to, sponsored, or highlighted in our monthly nonprofit articles in 2022. 





Several of the nonprofits that we partner with focus on promoting social and racial justice, providing affordable housing, and protecting the environment. This year, the impacts of the pandemic and inflation led us to spotlight even more organizations that address ending hunger, homelessness, and social isolation. 


Foundation for Dane County Parks: Welcome to Aaron Mullins, who was hired as the Foundation’s first full-time executive director this fall and is eager to help guide stewardship opportunities to support our beautiful county parks. Stay tuned for exciting grant and fundraising announcements next year 


Little John’s: Bravo to Little John’s for approaching the entire idea of food access in innovative ways The nonprofit is now using the term “pay-what-you-want” instead of “pay-what-you-can” to describe its café and other meal distribution outlets. You can help raise money to make its future kitchen and restaurant at 5302 Verona Rd, Fitchburg a reality In the meantime, volunteers are still needed at its temporary production site at 411 Prairie Heights Dr, Verona.


NAMI: This summer, the National Alliance on Mental Illness (NAMI) launched a nationwide SMS/text message support option for the NAMI HelpLine. Help-seekers can now text “HELPLINE” to 62640 on weekdays to connect with the free, peer-support service that provides information, resource referrals and support to people living with a mental health condition, their family members and caregivers, mental health providers and the public. Additionally, the 10-digit National Suicide Prevention Lifeline is now 988 – an easy-to-remember three-digit number that you can call for 24/7 crisis care. The world is a better place because you’re in it.


OWN IT: Building Black Wealth: Congratulations to the eight families affiliated with One City Schools who purchased a home in 2022 with support from $15,000 OWN IT down payment grants and valuable education offerings OWN IT is in the process of hiring its first director and raising funds to help even more families become homeowners. 


Solace Friends: Welcome to Amy Mondloch, Solace’s first executive director, who is in the process of adding program staff as Solace Home prepares to open its doors for operations in 2023. As you may recall, agent Ann Raschein helped the nonprofit find their house at 4142 Monona Dr, Madison. After completing renovations, it will become a four-bedroom adult family home providing safe shelter and much needed support for approximately 20-25 terminally ill people each year.  


The Center for Black Excellence and Culture: Thank you to photographer and videographer Arran Krantz of Purple Circle Media, who donated a portion of each listing photo package booked by our team to a nonprofit of our choice. Together, we donated more than $1,000 for the future Center for Black Excellence and Culture, which will be located on South Park Street and will showcase Black excellence in leadership development, business and innovation, art, and gatherings. The Center has raised over $23 million of its $36 million capital campaign goal.


Several of these nonprofits are holding end-of-year matching giving campaigns to make each dollar go further, and food pantries are always in need of more non-perishable items. These organizations would appreciate any and all support – now and in 2023 Thank you 


Local organizations our team members support


Click the logos below to learn more about the nonprofits and community groups that we supported in 2022. 


                      


Is there a local nonprofit or organization that is doing great things in our community but may need an extra boost to better fulfill its mission? We’d love to learn more about why you support that organization or how you think we might be a good fit to collaborate with them -- either through a nonprofit spotlight article on our blog and newsletter, a donation drive, volunteer event, sponsorship, or potentially another type of partnership. Share your idea with Samantha Haas, marketing and community outreach specialist, at samantha@madcitydreamhomes.com.
 ]]> </description>
    <pubDate>Tue, 20 Dec 2022 14:37:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/dane-county-homes-prices-increase-13-in-november.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/dane-county-homes-prices-increase-13-in-november.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Madison area homes prices increase 13 in November</title>
    <description> <![CDATA[ 
With so many confusing headlines in the world of real estate, it can be hard to know who and what to believe. Our latest market update offers plenty of insight into the Madison area real estate market -- and without any of the spin. Here's our single family home report for the month of November, 2022. 


Madison area home prices


The price per square foot increased 13 percent year-over-year, while the median price increased 10 percent. Why do prices continue to post double-digit increases? One big reason is fewer homes are being listed for sale, which we cover in the next section below. 


 


New MLS listings


Only 235 single family homes were listed for sale in the month of November, a decrease of 33 from last November, and the lowest total on record for the month. New listings have been entering the market at a subdued pace since the month of July, as many homeowners have been hesitant to sell due to the recent rise in mortgage rates.


 


Dane County housing starts


Another factor limiting supply in the Madison area is the slow pace at which new homes are being built. Only 75 single family home building permits were initiated last month, which was a 32 decrease from last November. Thank you Dominic Collar from MTD Marketing Services of Wisconsin for making this data available. For more information, please contact Dominic at 920-450-6131. 


 


Dane County foreclosures


Low foreclosure activity is another factor contributing to low supply. Only 25 filings were initiated in November, which was the 4th lowest total for the month dating back to the year 2000.


 


Available inventory


Although active listings in Dane County are up from the same time last year, they still remain low by historical standards. As of December 9th, only 444 single family homes were available for sale in the Madison area. 





Accepted offers


Mortgage applications are down by about 40 and accepted offers are, too. Accepted offers decreased by 42 in November, and registered the lowest November total since 2011. 





Home sales


November Madison area home sales (or closings) decreased by 30 year-over-year.


 


Competing offers


Our preliminary data for the month of October shows that 35 of the homes that went under contract in October received multiple offers. This is a very high percentage for this time of year -- and well above the pre-pandemic percentage from October of 2019. The high level of competition that we are experiencing right now is a sign that 2023 will be another year of strong prices and heavy competition, too. 


 


Days on market


Days on market are beginning to rise (slightly) but still remain very low by historical standards. The average days on market in November was only 27 days. 


 


Expired listings


More listings are expiring without selling, but the number is still very low compared to most other years dating back to the year 2000. 


 


Listing expiration rate


What is the listing expiration rate? As a formula, the listing expiration rate is:


( of listings that expire)/( of listings that expire +  of listings that sell)


A high expiration rate indicates a buyers' market. A low expiration rate indicates a sellers' market. The listing expiration rate is beginning to rise in Dane County, but it's still very low by historical standards. And it confirms that the market we're in right now is actually one of the best sellers' markets that we've experienced since the year 2000.


 


Our predictions for the 2023 Madison area real estate market


We're predicting another year of low inventory and strong prices, and we believe that these will be the two major themes in our market for the foreseeable future. For more background and information, we invite you to check out our 2023 forecast here. 
 ]]> </description>
    <pubDate>Tue, 20 Dec 2022 04:43:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/three-tips-for-showings-from-realtor-max-woods.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/three-tips-for-showings-from-realtor-max-woods.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Three tips for showings from realtor Max Woods</title>
    <description> <![CDATA[ 
Are you getting ready to begin the home-buying process? Realtor Max Woods has a weekly video series that simplifies the home-buying process for you. In one recent video, Max covers three great tips for anyone who's just getting started with their search.







3 showing tips from realtor Max Woods


Tip 1: Treat your showing as an opportunity to learn more about the surrounding area by going for a short walk or a short drive around the neighborhood. Who knows, you might even meet a few friendly neighbors?


Tip 2: Use your showings as a time to refine and clarify what you're looking for -- as you and your realtor discuss the features and finishes of each property you tour. 


Tip 3: Be mindful of home surveillance systems. Many homes are monitored these days, so it's best not to discuss negotiation strategies until after you've left the home.


For more home-buying tips


We invite you to check in with our Madison home buyers blog, or reach out to our realtor team for a conversation about all of your questions and goals. As always, we're here to be a resource for you and help you plan for your future. 
 ]]> </description>
    <pubDate>Thu, 15 Dec 2022 04:57:00 -0600</pubDate>
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<item>
    <guid>https://www.madcitydreamhomes.com/blog/a-deep-dive-into-november-home-prices.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/a-deep-dive-into-november-home-prices.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>A deep dive into November home and condo prices</title>
    <description> <![CDATA[ 
How are home and condo prices trending in the Madison area? Here are a few observations which offer some good insight into the Dane County real estate market. 


For starters, home prices are trending higher at all points along the price spectrum.


Based on our review of the November numbers, home prices are up significantly at every point along the spectrum. At the lower end, the mid-range, and the high-end -- all price points are trending higher. 





Condo prices are trending higher, too. 


The median condo price in November was up 12 percent year-over-year, and prices were higher at every other point along the spectrum, too. 





What the numbers don't show.


What these numbers don't show is that some home and condo sellers are struggling right now due to changing buyer expectations. Now that the stock market is lower and inflation is higher, today's buyers are more discerning and generally expect more for their money than buyers from a year ago. Today's buyers don't want to take on costly repairs and renovations, and they don't want to take on the responsibility of finding and hiring good contractors. They would much rather buy a move-in ready home instead.


So, yes, year-over-year home and condo prices continue to rise in Madison and across Dane County -- but for the homes that are move-in ready. Which is why the fundamentals of professional staging, smart cosmetic updates, and smart pricing are so important for sellers in today's market. 
 ]]> </description>
    <pubDate>Mon, 12 Dec 2022 04:45:00 -0600</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/when-is-the-perfect-time-to-buy-a-home-in-madison.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/when-is-the-perfect-time-to-buy-a-home-in-madison.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>When is the perfect time to buy a home in Madison?</title>
    <description> <![CDATA[ 
In a market like ours, it's whenever the perfect opportunity presents itself. It could be in the heart of the spring selling season, during the cooler fall season, or in the quiet of winter. You just never know when. 


Our clients Roger and Jennifer just learned this lesson when their perfect home became available right before the Thanksgiving Holiday. Their home search took a few weeks longer than they were planning for, but they're so glad that they remained patient and focused and had Chris Venden guiding them along their journey.





As Jennifer told us the other day, &quot;Our new home is absolutely perfect for us. We're so glad that we didn't settle, this home is so worth the wait.&quot;


So, if you're planning to buy your dream home in 2023, here are 3 simple recommendations that we have for you:




Connect with a trusted lender. 


Hire a professional buyer agent (or buyer agent team). 


And don't confine your search to the springtime. Instead, act as if your search is a 12-months-out-of-the-year endeavor -- just like Roger and Jennifer.




You just never know when your dream home will hit the market, and you want to be ready to take advantage of your opportunity whenever it presents itself. 


For more timely home and condo buying tips:


We invite you to check out our Madison home buyers blog for plenty of updates in the weeks and months ahead. Or connect with our realtor team for a helpful conversation. We would love to be a resource for you and help you make your dream home happen in 2023. 
 ]]> </description>
    <pubDate>Sun, 11 Dec 2022 05:09:00 -0600</pubDate>
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