Mad City Dream Homes Real Estate Blog, Madison WI

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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A few tried and true tips from our team: 

#1) Be a good friend. 

#2) With the spirt of friendship in mind, host coffees, lunches, and gatherings that give us time and space to enjoy each other's company. 

#3) Connect our friends and clients with reputable contractors. Solid, reputable contractors are in such short supply. So let's find out what type of help our friends need, and then help them make the right connections. 

#4) Send our friends a neighborhood market update. We all want to know what's going on in our neighborhood. We're providing a real service to our friends when we share information that is meaningful and hyperlocal. 

#5) Publish a monthly newsletter. Yes, it can include a few real estate topics and tips. It can also include

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At Mad City Dream Homes, we'd like to share our enthusiastic endorsement for Dave Friedman and his technology tutoring services. Dave makes house calls to provide personal tutoring in all aspects of technology. He clearly explains technical topics in terms that make sense to non-techies.

Dave's clients typically jot down questions as they use their computer, smartphone, or tablet. Then, when the list gets to a reasonable size, they'll schedule a time to go through it all at a pace they're comfortable with. 

Dave is easy to reach and he returns phone calls, too. For more information, we encourage you to visit davetutors.com.  You can also email Dave at dave@davetutors.com, or give him a call at 608-301-5602

Madison WI Technology Tutoring

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What are the keys to a successful negotiation? Here are our tried and true philosophies for negotiating a great price and great terms on the sale of your home. 

Offer Negotiation - Mad City Dream Homes 

Our six negotiation tips for sellers

1) Create a beautiful real estate listing. 

One of our first goals early on in the listing process is to create a solid partnership between you, our stager, our photographers, and our creative team. Working together, we create a beautiful real estate listing with eye-popping photos and plenty of marketing materials which highlight the benefits of your home. Beautiful listings receive more online interest, more showings, and more offers - all of which give you more leverage when it's time to negotiate. 

2) Ensure your listing receives full

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And all you really need to do is consistently show up as a professional in service to others. It's a simple concept to understand, and yet for most of us it's hard to follow.

Check out our careers page for more thoughts on how you can thrive in the world of real estate. Or call us for coffee and a conversation. We'd be happy to learn about your goals and share our advice with you. 

Who knows, you could end up changing your life by helping others change their life, too...

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Would you have peace of mind?

Would you have financial peace? 

And would you be excited? 

We often ask our clients these 3 questions as they consider a big purchase. When they answer "yes" to all three, then that's a sign that they're about to make the right decision. 

These questions are a reminder to us that we all have important questions to address in every season of life. And there's no time like the present to reflect on the ones that help us choose a new and better direction.

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We recently reached out to a few of our peers in the real estate industry for their insight into this topic. And according to our peers, there are 5 big reasons why the market favors apartment buildings over condo developments. 

#1) Construction liability. Current construction liability laws require developers to take on more legal and financial risk when building a condominium development. In addition, many architects are hesitant to design condo communities due to a rise in HOA lawsuits.

#2) Financing. From an underwriting and lending perspective, condos are considered to be the more speculative investment, which limits the options for financing. For the developer, it's easier to finance an apartment building than it is to finance a condominium

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