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        <title>Mad City Dream Homes Real Estate Blog, Madison WI</title>
        <link>https://www.madcitydreamhomes.com/blog/2023-09/</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/three-signs-of-pent-up-demand.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/three-signs-of-pent-up-demand.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Three signs of pent-up demand</title>
    <description> <![CDATA[ 
The Dane County real estate market continues to be one where buyers outnumber sellers. How do we know this? Here are 3 key indicators of pent-up demand in the Madison area. 


1: competing offers


It's true, we aren't seeing listings receiving 20 and 30 competing offers this year. But a high percentage of Madison area listings do continue to receive multiple offers. The percentage remains very high when compared to pre-pandemic levels. 





2: cash offers


The percentage of listings receiving cash offers is also trending along historically high levels, which is another clear sign of pent-up demand. 





3: days on market


And of course, marketing times, remain historically low. Many Madison area home and condo listings continue to sell in a matter of days, not weeks. 





But what about rising rates?


Mortgage rates have continued to rise in September, and we do expect current rates to lead to some softening of demand. And it's possible that prices may even begin to fall.


Even so we expect any drop in prices to be shallow and short-lived. There are simply too many factors at play which point to a long-term shortage of homes and condos in Dane County.


Of course we'll continue to track all of the latest trends on our blog, and we encourage you to check in often for our ongoing updates. We'll be publishing or September reports real soon.
 ]]> </description>
    <pubDate>Fri, 29 Sep 2023 06:06:00 -0500</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/what-its-like-to-be-a-ski-patroller.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/what-its-like-to-be-a-ski-patroller.html</link>
        <title>What It's Like To Be a Ski Patroller</title>
    <description> <![CDATA[ 



Fall is here and snowy weather is right around the corner. If you're a skier or snowboarder, you are likely already thinking about snow For skiers and snowboarders alike, this is the time of year when you start blowing the dust off your gear and figuring out where and when you're going to hit the slopes. In the Madison area there are four ski areas: Tyrol Basin, Cascade, Devil’s Head, and Blackhawk, which is a private ski club. Typically, the ski areas in southern Wisconsin are open by Thanksgiving. 


Did you know that nearly every ski area in the United States has a ski patrol? If you have ever skied at one of our local ski areas, you likely saw them wearing red coats with white crosses. My name is Alan Feder, and I have been a ski patroller for 20 years: 11 years as a paid professional for the Aspen Skiing Company and 9 years as a volunteer for the Tyrol Basin Ski Patrol near Mount Horeb. I am also a member of the Mad City Dream Homes real estate team and have been helping people buy and sell homes in south central Wisconsin for 9 years. 


What does a patrol do? Primarily patrol responds to reports of injured guests, medically treats those guests, and then either releases them on their own or passes them on to more definitive care like an ambulance ride to one of the local hospitals. Ski patrols also help their areas provide customer service, trail maintenance, and (should it be needed) lift evacuation in the event a chairlift becomes inoperable. 


How do you become a patroller? In order to carry out these activities, patrollers get certified in Outdoor Emergency Care (OEC), an 80-hour intensive course with classroom and practical skills testing. Once the classroom portion of the OEC class is completed and passed, candidates begin their on-hill training. This training takes up most of the first season on the patrol. The primary focus of on-hill training is learning how to ski or snowboard a toboggan with an injured guest down any slope in the area. This culminates with on-hill testing conducted by patrollers from other areas. 


Ski patrols have budgets to purchase medical equipment and other gear. Many patrols are run as nonprofits and must fundraise to keep their patrol going. Tyrol Basin has an annual Ski &amp; Snowboard Resale where a percentage of the purchases goes to the patrol. The public is able to bring their own gear in to sell as well as vendors that bring in gear to sell. This year the sale will be held from 8:30am to 3pm Sunday, October 22, 2023. Mark your calendars if you're looking to buy or sell some gear 


The Tyrol Basin Ski Patrol, as a group, puts in more than 10,000 volunteer hours per year. This includes pre-season medical and lift evacuation training, weekly shift attendance, and helping with events throughout the ski season. Many ski areas are open during  summer season and have events and activities like frisbee golf, mountain biking, haunted houses, etc. In Wisconsin, most ski areas are volunteer and they are always looking for new members. If you love skiing or snowboarding, reach out to me and I can answer your questions and connect you to one or more of the local ski patrols. 


Another benefit to patrolling is spending time with friends &amp; family when not helping guests.  Here I am riding the chairlift at Tyrol Basin Ski Area with my daughter, Phoenix. Have a fun &amp; safe ski and snowboard season
 ]]> </description>
    <pubDate>Thu, 28 Sep 2023 15:43:00 -0500</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/sweet-memories.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/sweet-memories.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Sweet memories</title>
    <description> <![CDATA[ 
Congratulations to our client, Jenn, who recently sold her beloved home on the east side of Madison. This was a bittersweet experience for Jenn. She loved her home, her neighbors, and the surrounding neighborhood. But she's happy for the new owners, who are elated to be laying down roots in this sweet little bungalow. 


Prior to selling her home, we helped Jenn coordinate all of her painting, lighting, and home repair projects. Then it was time for the professional photos, virtual staging, marketing, showings, and negotiation. 


In the end, all of the planning and preparation was worth it. Jenn received two competing offers, and a wonderful accepted offer for $20,000 above the list. 


Thank you, Jenn, for the opportunity to serve. It's been a true pleasure working with you and getting to know you better. We wish you all the best in your new adventures 


Your friends at Mad City Dream Homes
 ]]> </description>
    <pubDate>Thu, 28 Sep 2023 04:56:00 -0500</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/paint-flooring-and-light-fixtures-can-make-all-the-difference.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/paint-flooring-and-light-fixtures-can-make-all-the-difference.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Paint, flooring, and light fixtures can make all the difference</title>
    <description> <![CDATA[ 
How can you dramatically increase your home's value, and without breaking the bank? Usually, the answer involves low-cost, high-impact projects like paint, flooring, and light fixtures.


Are you looking for some low-cost ways to update your own home? 


Contact us for your own complimentary consultation. We'd love to visit you at your home and share our tips and advice -- and connect you with reputable and reasonably-priced contractors, too.  
 ]]> </description>
    <pubDate>Mon, 25 Sep 2023 04:15:00 -0500</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/hardwood-floor-refinishing-recommendation.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/hardwood-floor-refinishing-recommendation.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Contractor recommendation: hardwood floor refinishing</title>
    <description> <![CDATA[ 
If you're looking for someone to bring the natural beauty and character back to your hardwood floors, we highly recommend giving Jeff Shunk from Imperial Wood Floors a call. Jeff is the owner/operator who follows through on his commitments and is onsite when the work is done. 


He and his team recently brought this oak flooring back to life for one of our clients, and Jeff's work was a key reason why our clients sold their home quickly and for the full list price. You can call Jeff at 608-274-2821 for your own free estimate. We enthusiastically endorse Jeff for his service, communication, and dedication to his craft. Thank you Jeff 
 ]]> </description>
    <pubDate>Fri, 22 Sep 2023 03:09:00 -0500</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/dane-county-home-prices-edge-higher-in-august.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/dane-county-home-prices-edge-higher-in-august.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Dane County home prices edge higher in August</title>
    <description> <![CDATA[ 
Dane County home prices continued to move higher in the month of August, and by all measures. Here's our latest single family home update for the Greater Madison area. 


Home prices


The price per square foot increased from $210 in August of 2022 to $220 in August of 2023, an increase of 5 percent. The median price increased by 1 percent, while the average price increased by 4 percent. 





Through the first 8 months of the year, prices were also up by every measure:




The price per square foot was up by 5 percent. 


The median was up by 5 percent. 


And the average was up by 7 percent. 




New listings


New listings continued to enter the market at a slow pace. For only the second August this century, fewer than 500 homes were listed for sale in Dane County.





Inventory


Available listings (those without an accepted offer) are rising, as they normally do this time of year. Still, inventory remains very low by historical standards. We expect prices will continue to rise for as long as inventory remains low.





Competing offers


We see several clear signs of pent-up demand in the Madison area, and one of them is the percentage of listings receiving competing offers. Competing offers continue to be much more prevalent in 2023 than in the pre-pandemic market.





Cash offers


Another clear sign of pent-up demand is the percent of listings receiving offers without financing contingencies. Cash offers are trending along record highs, and are much more common compared to pre-pandemic levels.





Days on market


And yet another clear sign of pent-up demand is the amount of time it takes to sell a home. Days on market continue to trend near record lows in Dane County.





Accepted offers


The number of homes going under contract in August was the lowest in 12 years. Prices are at all-time highs in the Madison area, even though contract signings are low and interest rates have been trending higher.





Dane County home sales


August home sales (or closings) were also the lowest in 12 years. 





What to expect moving forward


We expect heavy competition and high prices due to a scarcity of supply and an abundance of people moving to Dane County. So, if your goal is to buy a home in the near future, it's imperative for you to consult with a professional. You need to have a good plan for buying in this market, and of course it always helps when you have a caring, attentive, and committed agent supporting you. 
 ]]> </description>
    <pubDate>Thu, 21 Sep 2023 06:23:00 -0500</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/healthy-aging-and-fall-prevention-with-sail.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/healthy-aging-and-fall-prevention-with-sail.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Healthy Aging and Fall Prevention</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. 


Did you know that September is both National Healthy Aging Month and National Fall Prevention Awareness Month? A local nonprofit that we’ve featured in the past, Sharing Active Independent Lives (SAIL), does a tremendous job of educating and empowering older adults as well as equipping them with resources on how to age well, prevent falls, and much more. 


For example, Dr. Alexis Eastman, a faculty member in the Division of Geriatrics and Gerontology in the Department of Medicine at University of Wisconsin-Madison, often presents a SAILing Into The Future workshop on Aging 101: 10 Things to Know About Aging. Here are a few key takeaways as a clinical geriatrician that she would like people to remember about aging:


Exercise 


&quot;I want everybody to exercise – not only for their physical health and to aid in the prevention of falling and other ailments, but also for their mental health and to help reduce the risk of dementia by up to 50. When you get older, you can expect things to get stiffer and saggier, but they should not start hurting. In terms of memory, it’s normal to take longer to process information or learn something new, but you should still be able to do those things and not forget important things. When in doubt, get checked out. It never hurts to ask a question about anything that’s a change in the way you’ve been. Safely do aerobic and strength-training exercise for about a half hour most days of the week,&quot; Dr. Eastman said.


Support Your Health


&quot;Keep your medical health under control, don’t smoke, invest in nice supportive shoes, give the Mediterranean diet a try, get good rest at night, and find a doctor that is the best fit for you. Anyone over the age of 65 can see a geriatrician, but the people who really need us are those with complex health and social situations,&quot; Dr. Eastman said.





Socialize


&quot;Socialization is also very beneficial as we age. People think they’re doing fine on their own or they aren’t lonely, but Covid especially was incredibly isolating, and unfortunately we saw a lot of people whose dementia and depression got worse or who died that didn’t need to. The silver lining of that was video visits for those who had the technology to connect with providers online, as well as UW Senior Chats program that connected medical students with seniors to check in on them via telephone. So get together and play cards with friends, make that call, and if you’re living alone and considering moving to a retirement or assisted living community, be sure to eat lunch at the place you’re looking at since it’s the most common meal served and you can learn a lot about the environment and people from that experience,&quot; Dr. Eastman said.





SAIL, a program of AgeBetter Inc., in collaboration with Attic Angel Association and Oakwood Village, celebrates independence and stewardship in older adults, creating a community of learning, activity, socialization, and support for one another.


“The comprehensiveness of SAIL is not something that is found in a lot of other cities or communities, so we’re really fortunate to have this organization in Madison and a supportive community that will help you live longer and better,” Eastman said. 


Dr. Eastman was recently presented with AgeBetter, Inc.'s 2023 Aging Advocate Award. The first of its kind, this award honors a community member who is an advocate for older adults and devotes volunteer and professional time promoting healthy aging and preventing ageism. 


“We wanted to recognize the impact that Dr. Alexis Eastman has made in the Madison area community to dispel ageism, provide education to older adults, and promote geriatrics as a profession,” said Ann Albert, Executive Director of AgeBetter, Inc. “Alexis is a super person who has also been involved with our SAIL (Sharing Active Independent Lives) program for 5 years.”


Thank you Dr. Eastman, AgeBetter, Inc., and SAIL, for sharing your knowledge with us 
 ]]> </description>
    <pubDate>Wed, 20 Sep 2023 08:10:00 -0500</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/wired-to-serve.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/wired-to-serve.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Wired to serve</title>
    <description> <![CDATA[ 
Are you someone who enjoys helping others? Or perhaps you work in a helping profession like teaching, nursing or social work and you're seeking new challenges and new opportunities with your career. 


If you're a helper at heart then a career in real estate could end up being a great fit for you. That's because people who are wired to serve tend to thrive in the world of real estate (at least, this has been our experience). Contact us if you're curious and ready for a conversation. We'd love to hear from you. 
 ]]> </description>
    <pubDate>Tue, 19 Sep 2023 06:39:00 -0500</pubDate>
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    <guid>https://www.madcitydreamhomes.com/blog/how-common-are-cash-offers.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/how-common-are-cash-offers.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>How common are cash offers in Dane County?</title>
    <description> <![CDATA[ 
Cash offers became much more prevalent during the pandemic, and that trend has continued in 2023. Note from the chart below that the percentage of home sales without financing contingencies is trending much higher this year than in pre-pandemic 2019.





A high percentage of cash offers is a clear sign of a competitive market. It's also an indicator of pent-up demand, where the number of buyers exceeds the number of homes for sale in Dane County. Stay tuned for more insight into this topic. We'll have much more to share real soon. 
 ]]> </description>
    <pubDate>Mon, 18 Sep 2023 04:30:00 -0500</pubDate>
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<item>
    <guid>https://www.madcitydreamhomes.com/blog/dane-county-condo-prices-rise-in-august.html</guid>
    <link>https://www.madcitydreamhomes.com/blog/dane-county-condo-prices-rise-in-august.html</link>
        <author>contact@madcitydreamhomes.com (Dan Miller, REALTOR)</author>
        <title>Dane County condo prices rise in August</title>
    <description> <![CDATA[ 
Here's our latest look at the Madison area condo market, without any hyperbole or spin. 


Dane County condo prices


The price per square foot increased from $214 in August of 2022 to $217 in August of 2023. 





Here's how condo prices are trending through the first 8 months of the year:




the price per square foot is up 6 percent


the median is up 13 percent 


and the average is up 12 percent




We fully expect Madison area condo prices to keep rising based on all of the supply and demand trends that we're observing in the market right now. 


Also note: Because the number of condos sold each month is relatively small, the monthly prices can experience dramatic swings. That's why it's important to focus on the overall trend and not place too much emphasis on the numbers for any individual month. 


New condo listings


Dane County condo listings continued to enter the market at a slow pace in the month of August. Only 127 condos were listed for sale last month, which was the lowest August total since 2002.





Dane County condo inventory


The number of available listings (those without an accepted offer) remains low. Only 124 condominium listings were available for sale on September 14th, which is roughly equal to the number of listings available at the same time last year. Note from the chart below that available listings are typically highest in the late summer and fall seasons. That makes this fall a time of opportunity for those buyers who stay committed to their search.





Competing offers


Our competing offer data shows that there is still plenty of pent up demand in the Madison area condo market. Note from the chart below that the competing offer percentage remains well above pre-pandemic levels.





Accepted offers


A lack of supply is leading fewer condos are going under contract. Only 112 Dane County condos went under contract in August, which was the lowest August total since the Great Recession. 





Condo sales


Likewise, August sales (or closings) registered their lowest total in 12 years.





Days on market


And Dane County condominiums continued to sell at a brisk pace. 





What lies ahead for the Madison area condo market?


We're expecting low supply and high prices due to a scarcity of new construction condos, and an abundance of people moving to the Madison area. Stay tuned for our ongoing updates, as we continue to report on the market each month.
 ]]> </description>
    <pubDate>Fri, 15 Sep 2023 06:15:00 -0500</pubDate>
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