Competing offers have subsided from record-high levels, but they're still common in Dane County's fast-moving real estate market. 

One way you can compete more effectively as a buyer is to write a "cash offer", or in other words an offer without a financing contingency. There are 2 key concepts to remember when you write your cash offer: 

1) Once you cash offer is accepted, you can still choose to close with a mortgage if you wish.

2)  You do need to provide documented "proof of funds" as part of your offer. 

What are some common sources that can be used as “proof of funds”?

Here are 3 different sources that you might consider: 

1) A letter from your banker or statements from your financial accounts. 

2) Verification of funds

What does the future hold for Madison area real estate? Here's a quick review of our predictions for the year ahead. 

1) Mortgage rates will decrease slightly. The Mortgage Bankers Association is predicting rates for 30-year fixed rate mortgages to hover between 6.4% and 6.6%. 

2) Demand for Madison area real estate will remain strong. We expect our strong local economy, our region's national reputation, and climate migration will continue to fuel Dane County's growing population in the year ahead. 

3) New residential listings and sales will increase by 5 to 10 percent. New listings and sales have been quietly increasing in 2024. We expect this trend to continue into the new year as more people decide to enter the market. 

4) Home and condo

Please reach out to us and let us know what projects you need help with. We'd love to put you in touch with our preferred contractors who do great work and for a fair price. In fact, we just had one of our most trusted contractors reach out the other day letting us know they have hired more staff, and are ready for more appointments. 

Wishing you and yours a wonderful holiday season. 

Your friends at Mad City Dream Homes

According to a recent article by the Capital Area Regional Planning Commission, Dane County added almost 10,000 residents in 2023, which once again made our county the fastest growing region in the state. 

We expect our strong local economy, our region's national reputation, and climate migration to fuel much more population growth in the years ahead. The demand for housing will remain strong, and we'll need to continue to build more homes, condos, and apartments to accommodate the influx of new residents. 

Foreclosure and short sale listings are uncommon occurrences in the Madison area, and continue to trend near historically low levels. As the chart below shows, a total of 214 Dane County foreclosures were filed through the first 10 months of 2024, compared to 1,475 through the first 10 months of 2010.

In other words, foreclosure filings this year are down 85% from the peak. 

We expect more of the same in 2025, which is just one more reason why we're predicting a competitive market with low inventory in the year ahead. 

While we can’t deny that the spring and summer markets are historically the busiest, there are unexpected benefits to selling your home in the winter if it makes sense for your situation.

1. Serious buyers: Quite literally, fairweather buyers aren’t looking for a home in the winter. Your winter listing will more likely attract more serious buyers who are committed to moving.

2. Chance to highlight ‘cozy’ features: Showcase a lovely fireplace, fun theater room, or sunroom that brings in light year-round. 

3. Less competition: Winter may bring fewer buyers, but fewer homes are for sale too. This means your listing will have less competition. 

4. (A different type of) beautiful photos: A snow-covered setting can be beautiful

New homes are popping up all over the Madison area, but the numbers show the pace of new construction is down by about 50% from the peak home-building years in the early 2000's. As the chart below shows, a total of 1,095 Dane County housing starts were initiated through the first 10 months of 2024, compared to 2,147 through the first 10 months of 2004.

At the same time, Dane County's population continues to grow faster than any other county in the state. This is one of many reasons why we expect 2025 to be another highly competitive market in the Madison area. We'll have more mini-market updates and more insight to share in the days ahead. Stay tuned...

A special thanks to Dan Lallensack from MTD Marketing Services of Wisconsin for sharing his

As we approach another holiday season we want you to know how much we appreciate you and your continued support of our team. Because of you, we're able to do the work we love, helping our clients reach their goals through changing markets and often challenging circumstances. 

Chances are you have friends and family who will need some real estate advice in the year ahead. We would be honored if you would recommend our team as a helpful resource. Of course we'll be happy to meet with your friends and family in person, learn more about their goals, and share our honest advice. 

Thank you again for all you do to support our business. We wish you plenty of peace, good health, and happiness this holiday season and in the new year. 

Your friends at Mad

Recently a friend asked us about our fee for a home-selling consultation. And he was surprised to learn that our consultation is free of charge. 

Our complimentary consultation includes all of the following: 

• An overview of the market and a professional evaluation of your home's current market value. 
• Our recommendations for repairs and updates that will help you sell your home for a better price. 
• Connections to reputable and reasonably-priced contractors who will help you carry out your projects. 
• Initial preparations for your marketing, including professional photos of your home's exterior -- and even your neighborhood -- to be used in your listing. 

When it comes to selling your home, there is no substitute for preparation,

 This year, we're trying something new: a Giving Tuesday campaign to support Madison Area Community Land Trust (MACLT). MACLT is an organization we know and trust that is creating permanently affordable housing opportunities in Dane County. Will you join us? Click Here. 

Madison Area Community Land Trust (MACLT) is a nonprofit organization committed to providing affordable and sustainable homeownership opportunities for low-income families in Dane County. MACLT is Dane County's only non-profit focused on permanently affordable homeownership, and part of a movement of over 300 community land trusts across North America. 

Through their innovative land trust model, MACLT helps individuals and families purchase homes at below-market rates, while