January 2024

Found 13 blog entries for January 2024.

As we prepare for the year ahead, Mad City Dream Homes would like to highlight a vital community organization that is preparing - and equipping - young adults for success in Dane County. Operation Fresh Start (OFS) helps emerging adults carve out new pathways to success by overcoming barriers.

 


 

In tandem with personalized mentorship, OFS helps participants finish their high school diplomas, obtain drivers licenses, build trade industry skills via apprenticeships, and network in preparation for their professional lives, (among other initiatives). As Gregory Markle, OFS’s Executive Director put it, “For our young people, we build opportunities to let them know that we care. We focus on the moment when we encourage them to make a leap of faith

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Let's have a quick look at the numbers: Last year, Dane County's population grew by almost 8,000 people, and yet we built just under 1,300 homes. This is a very familiar pattern in Dane County. As the chart below shows, new home construction has been subdued for the last 18 years, even though our county has consistently ranked as one of the fastest-growing regions in the state. 

madison area housing starts 2000 to 2023

What does the future hold for Dane County?

While many counties in Wisconsin are experiencing population declines, it's important to note that Dane County's population is projected to grow by another 200,000 people over the next 30 years. For this and a host of other reasons, we fully expect local home values will continue to appreciate for the foreseeable future. 

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Recently we had the pleasure of visiting a new client for a staging and cosmetics consultation. Our visit included a color consultant, a home stager, a handyman, and two agents from our team. And it was a wonderfully productive meeting. We identified painting projects, chose paint colors, picked out light fixtures, and prioritized a few home repairs. And of course, we scoped out our staging plan. 

We're excited to help our client carry out her plan and transform her home in the weeks ahead. This one is gonna be a lot of fun...

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Rates for a 30 year mortgage were approaching 8 percent just a few months ago, but now they're much closer to 6.5%. What new possibilities do lower rates create for you? Now is a great time to explore your opportunities with a trusted local lender. Contact your Mad City Dream Homes realtor for a referral to a lender who will help you understand your options and make good financial decisions. We'd love to help. 

New mortgage rates for the new year

 Chart and data are provided courtesy of the Freddie Mac Primary Mortgage Market Survey. 

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Done the right way, the best home improvement projects offer a 300 to 500 percent return on investment, and with relatively little up-front cost. This has been our experience, over and over again, with dozens and dozens of clients. 

simple home improvement projects

Which projects offer the biggest impact?

Usually it's the simple, low-cost projects like painting, flooring, lighting, window treatments, and cabinet hardware. Then add in a little staging and a little art, and you'll feel like you live in a brand new home. 

Would you like a complimentary cosmetics consultation for your own home? We'd love to be a resource for you and help you make the most of your investment. Contact your preferred Mad City Dream Homes realtor to schedule your own consultation. 

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Madison consistently ranks among the top cities in the nation to live. For what reasons? And for whom? Those answers vary depending on who you ask.

“As a lifelong Madisonian, I’ve noticed that this is a wonderful community but it's more wonderful for a certain group of people than it is for others,” said the Rev. Dr. Alex Gee, who serves as the lead pastor of Fountain of Life Covenant Church (Fountain of Life), founder and president of the Nehemiah Center for Urban Leadership Development (Nehemiah), and host of the podcast Black Like Me. He is also the founder and CEO of The Center for Black Excellence and Culture (The Center), a new nonprofit which is in the final stages of its fundraising campaign to create a welcoming and inspirational space for the

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It's true, buying a home can be a real challenge in this market. But with the right mindset and the right people supporting you, you can achieve your dream of homeownership. Here are 4 tips from our team that can help you make your homeownership dreams come true. 

#1) Invest in your personal and professional growth. You'll improve your mindset, your career opportunities, and your income when you're intentional about learning and growing each day. 

#2) Partner with an employer who will invest in your future. Yes, there are plenty of dead-end jobs out there. There are also some excellent employers in the Madison area who will fairly compensate you for your character and your work ethic. 

#3) Save and invest your money with the help of a financial

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Are you looking to add instant value to your home and without breaking the bank? A fresh coat of paint applied by a skilled contractor always offers a great return on investment. Call us for a referral to a reputable painter. We'd love to help you make the right connection.  

10 high value painting projects

Our top 10 ways to improve your home's value with paint

Here are 10 ways a skilled painter can help you prepare for a successful sale and maximize your return on investment. 

  1. Replace wallpaper with a fresh coat of neutral paint.
  2. Replace bold colors with neutral colors for more mass appeal. 
  3. Repair surface cracks and holes in plaster and drywall.  
  4. Touch-up walls with matching paint. 
  5. Refresh moisture-stained windows and window sills. 
  6. Touch-up doors,
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Dane County condo prices ended the year higher in 2023. Here's our latest update on the Madison area condo market.  

Dane County condo prices

Madison WI Condo Prices Dec 2023

Condo prices in the month of December:

  • The price per square foot increased from $195 to $224 (15 percent).
  • The average price increased from $308,754 to $339,868 (10 percent). 
  • The median price increased from $274,500 to $294,950 (7 percent).

Annual price increases (from 2022 to 2023): 

  • The price per square foot increased from $203 to $216 (7 percent).
  • The average price increased from $300,531 to $333,401 (11 percent). 
  • The median price increased from $268,000 to $300,000 (12 percent). 

 

New condo listings

Only 51 condos were listed for sale in the month of

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Madison area home prices rose once again in December. Here's our latest update on the Dane County single family home market.  

Dane County home prices

Madison WI home prices Dec 2023

Home prices in the month of December:

  • The price per square foot increased from $216 to $229 (5 percent).
  • The average price increased from $460,431 to $466,011 (1 percent). 
  • The median price increased from $389,785 to $414,900 (6 percent).

Annual price increases (from 2022 to 2023): 

  • The price per square foot increased from $214 to $225 (5 percent).
  • The average price increased from $466,130 to $497,232 (7 percent). 
  • The median price increased from $412,500 to $435,000 (5 percent). 

 

New listings

New listings rose for the second straight month (a positive

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