August 2024

Found 24 blog entries for August 2024.

Here's our simple graphic that lays out how pre-agency, sub-agency, and buyer agency work. In the big picture, not much has changed in the State of Wisconsin, because we've had buyer representation in place for many years. Yes, some of our forms and contractual language have recently changed, but for many clients the home buying experience will be the same as it has been for decades. 

If you're thinking of buying in the near future, you're likely to have questions. Reach out to your Mad City Dream Homes realtor for some sound guidance. We'll answer all of your questions for you and help you make sense of the new rules. 

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Property showings are typically light during the Labor Day weekend, which is great news for anyone looking to buy a home with little or no competition. And remember, selection is improving and rates are trending lower. 

So, if you won't be on vacation during these last few days of summer, you might take a shot at buying your dream home instead. Who knows, this could end up being one of your best holidays ever. 

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Imagine you and your spouse have just welcomed your first child into your family. And a few weeks later you start receiving mailers and phone calls from a few different realtors. People you don't even know, asking you if you might be interested in buying or selling a home. At the time you don't think much about the postcards and the calls. You're too tired from the long nights with baby to give them much thought. 

Fast forward two years, and you and your spouse decide to buy a larger car as you prepare for the birth of your second child. And in a strange coincidence, the same realtors reach out to you with more mailers and calls. A little annoyed, you wonder, are these agents creeping on you? 

And then a year later, you and your spouse take out a

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As real estate agents, we often get asked for our opinion or advice followed by (the polite caveat) ".. but I'm not ready to buy yet." However, at Mad City Dream Homes, our help is not predicated on you being ready to tour homes or sign an agreement. We are ready to help at every step of process, often months or years before our you intend on making a move. 

If you are unsure about where to start the home-buying process, reach out. We're happy to help put you on the path to success, no matter your timeline.

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We work in the field of real estate, which means nearly everything we do is governed by a written contract. But what if we didn't have contracts to govern our actions? 

  • Would you always lead with generosity -- and strive to do the right thing? 
  • Would you follow through on all of your promises -- and always give your best? 
  • And would you consistently pursue mastery of your craft? 

If your answer to all 3 questions is "yes", then you're choosing to govern yourself through your own integrity and professionalism. And that's a wonderful way to earn a living, in any line of work. 

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This fall promises to be a time of opportunity for many of our buyer clients, and the right time for buying their dream home. That's because price reductions and inventory are on the rise as we approach the Labor Day Holiday, and mortgage rates are trending lower. 

What questions do you have about buying a home or condo in the Madison area? We're here to answer all of your questions for you and help you make your big move happen. Reach out for a helpful consultation.  

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How common are foreclosures in the Madison area? We've run the latest numbers from the Wisconsin Circuit Court database, and foreclosures continue to be a relatively rare event in Dane County. Through the first 7 months of the year, a total of 147 foreclosures have been filed, which is the fourth lowest total this century. 

Madison WI foreclosures July 2024

We don't expect a significant increase in foreclosures anytime soon, and for a few key reasons: 

  • Today's lending practices are much improved from the bad practices that preceded the foreclosure epidemic 15 years ago. 
  • Many homeowners continue to enjoy a low monthly payment and a sub 4 percent interest rate. 
  • Most homeowners have built up a large amount of equity in their home and are low-risk for ever being
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Here's a quick look at the latest new construction trends in Dane County. And a quick thank you to Dominic Collar from MTD Marketing Services of Wisconsin. Dominic has been collecting this data for many years, and he continues to generously share it with us. For more information, please call Dominic at 920-450-6131

Dane County year-to-date housing starts

New construction remains flat, even though our population is growing. A total of 750 housing starts were recorded in Dane County through the month of July, slightly below the 773 housing starts through July of 2023. Note from the chart below that new construction is down by roughly 50 percent compared to the peak home-building years in the early 2000s. 

Madison WI housing starts July 2024

Average value and square footage

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Our promise to our clients is that we will never “set it and forget it” when helping you buy or sell. We will help you achieve the small, often unsung successes that make the entire process easier, more rewarding, and more fun. For example, we have recently:

  • Helped coordinate packing help for a seller, including assistance driving the U-Haul to her property.

  • Completed in-person tours for a buyer in town and virtual tours for their partner.

  • Cleaned floors in between showings when debris was tracked in.

  • Moved furniture between floors to help accommodate a seller’s upcoming estate sale.

  • Dropped off plants to ease a seller’s outdoor staging efforts. 

We would love to give you the same level of personalized

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According to 2023 data from Redfin, the average American has lived in their home for 11.9 years -- which is nearly double the 6.5 years from 2005. We're staying in our homes longer for a variety of reasons: Higher mortgage rates, higher housing prices, and fewer housing options to choose from, to name a few. 

Chances are you'll be in your home for a long time when you make your next move. The stakes will be high, and you'll want a trusted advisor beside you. Serving as your advisor is a role we hold in high regard. It's an opportunity to serve you during an important time of your life -- and a huge responsibility. 

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