Buying Tips

Buying a Home in Madison & South Central Wisconsin: Real Estate Buying Tips

Found 232 blog entries about Buying Tips.

Be careful what you wish for. Your real estate dreams just might come true. Here are a few happy endings from the first half of 2024 that we'd like to share with you. 

Dreams coming true in 2024

Congratulations to Chris & Maddie, who are purchasing their first home as a newly married couple. Chris and Maddie are excited to be be building equity in their new home and to have plenty of space for their pup! 

To Harsh and Madison, who are elated to be starting their family in their new home, and to be living near loved ones. 

To Kasey and Matthew, who recently drove by a home in the country and fell in love with it from the road. Two days later this home hit the market! Kasey and Matthew will be moving into their dream home later this summer. 

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The frenzy of the spring home-buying market has come and gone and now we've entered into a market that is a little more relaxed, with a little more inventory, and with a little less competition. Have a look at this chart, which shows the typical, seasonal pattern for competing offers in Dane County. 

Multiple Offers by Month

The market is always in flux, and competing offers are moderating this summer, as they tend to moderate every summer. As a result we're seeing more buyer and seller negotiations that include the traditional home inspection and appraisal contingencies. 

What questions do you have about the summertime real estate market? We would love to be a resource for you and answer all of your questions. You know how to reach us. 

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Home and condo availability is quietly improving, and is better right now than it has been each of the last two summers. What's more, we expect selection to continue to improve throughout the summer and into the fall season, as it does every year.

Check out our latest inventory snapshots of the Madison area real estate market, and please reach out whenever you have questions. We're here to help. 

Dane County single family home inventory 

Madison WI Home Inventory June 6 2024

Dane County condo inventory 

Madison WI Condo Inventory June 6 2024 

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If you've been thinking about modernizing your home's exterior, you've probably been thinking about replacing your siding, which can be a time-consuming and expensive project. We wanted to let you know that local business owner, Dale Tomalin, has a much more affordable and efficient solution than siding replacement. 

Spray Net WI Painting Project

Dale is the franchise owner of Spray-Net of Southern Wisconsin, creators of a painting technology that is flexible enough to avoid cracking, hard enough to avoid chipping, and smooth enough for washing. Dale's product transforms brick, vinyl siding, aluminum siding, doors, windows, and kitchen cabinets -- and comes in a variety of colors. We continue to receive excellent feedback about Dale and his work, which is covered by a 15-year

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There's still a fair amount of confusion about the new federal rules impacting buyers and sellers. What you need to know is that the new rules mandate two changes in practice, which are expected to take effect in August. 

#1) In most cases, buyers will need to sign a buyer agency agreement before viewing a property with an agent. Even if you're not sure that you want to work with the agent for the long-term, you will need to sign an agreement. 

At Mad City Dream Homes, we have always believed that you should be able to "test-drive" our services before you decide to work with us for the long-term. For this reason we will continue to emphasize short buyer agency agreements -- agreements that are as short as a single day or that apply to only a single

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If you've been struggling during the first half of the year to find and buy the right home, we encourage you to stay positive and remain committed to your search. That's because now that we've made it through the frenzy of the spring home-buying season, the market is offering you a little more inventory, a little less competition, and a little more room to negotiate.  

Hang in there. While other buyers are getting ready for their summer vacations, your perfect opportunity could be waiting for you right around the corner...

Advice for Dane County Home Buyers

(Photo by Step Inside Media with staging by Debbie Lea and Shelley Lazzareschi)

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At Mad City Dream Homes, we have a clear set of philosophies when it comes to buyer representation and serving our buyer clients. Here's how the Mad City Dream Homes approach compares to the approach of a more traditional buyer agent.  

buyer representation standards

(Thank you Step Inside Media for this photo and for all of the photos that you produce for our clients.) 

Buyer agency contracts

  • The traditional approach: The traditional approach requires you to commit to a long-term buyer agency agreement before the agent will assist you. 
  • Our philosophy: We believe you should be able to "test-drive" our services before you decide to work with us, so we won't ever require you to sign a long-term contract. 

Teamwork

  • The traditional approach: The traditional
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A new construction home offers one of your best opportunities for buying in our low inventory market. With a new construction home, you get all of the latest features and finishes. Plus, there's the added benefit of less competition. Whether you're seeking a turnkey home or a custom-built home on the lot of your choice, Dane County has a few dozen neighborhoods for you to choose from. 

Dane County New Construction Homes

(Thank you Step Inside Media for your beautiful photography!) 

 

Here's our list of 60 emerging neighborhoods in Dane County: 

The properties linked below include new construction homes and buildable lots. You can also visit this page that's always up-to-date with the latest new construction listings. 

Browse New Construction Here

 

Belleville 

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    We're seeing some encouraging signs that condo selection is improving in the Madison area, thanks in part to the addition of several new developments across Dane County. A few of these newer developments include: 

    • Besa Monona in Monona
    • Calliope Cottages in Middleton
    • Happy Place Condominiums on Madison's East Side
    • Lacy Ridge Condominiums in Fitchburg
    • The Ridge at Fox Hill in Deforest
    • Wild Oak Condominiums in Stoughton 

    If you're in the market for a new or newer condominium, please free to contact us for a helpful consultation. We'd love to help you. Or check out our guide to new construction condos below. 

    Browse New Condominiums Here
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    We have no way of accurately predicting if and when mortgage rates might drop below 6%, but let's assume at some point they do.

    When this happens, we do expect more homeowners who are locked into a low mortgage rate to list their home for sale. It's reasonable to expect that supply will increase when mortgage rates fall. 

    At the same time, we also expect many more buyers -- enticed by lower rates -- to enter the market. Demand will rise when mortgage rates fall. 

    So very likely, the net effect of lower rates will be more upward pressure on home prices.

    The bottom line for you: If one of your life goals is to become a homeowner, it's important for you to know that there is a cost of waiting for a lower rate. So rather than wait for a lower rate

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