Tagged : madison real estate

Found 282 blog entries tagged as "madison real estate".

We're two months into the COVID-19 pandemic now, and we have some important trends we'd like to share with anyone who's thinking of buying or selling in the Madison area. Buyers and sellers who understand these trends will be in a position to make smart decisions and make the most of this year's unique market. 

Madison WI Real Estate News May 2020

Dane County single family home trends for April and early May, 2020

Here are the latest trends in the single family home market, with fresh data from the months of April and May. 

Fewer owners are listing their home for sale. 

Single family home listings were in short supply before the pandemic began, and we expect this to be the trend for the foreseeable future. As you can see from the graph below, many home owners postponed their

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If you're like most prospective sellers, you don't know where to begin with the home-selling process during the COVID-19 market. It's a confusing time for sure, but you can eliminate a lot of confusion by consulting with a professional and asking the right questions early on in the planning process. When you address the right questions, your next steps will become clear, and your overall plan for selling your home will begin to take shape. 

2 Questions for Madison WI Home and Condo Sellers

We recommend answering these 2 key questions as you plan for your sale:

Question #1: Will you be moving out of your home before your showings begin?

Depending on your situation, you may have the opportunity to move into your next setting before any showings begin. Most sellers prefer this approach (if it

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Buyer activity dropped in March due to the pandemic announcement and Wisconsin's Safer at Home order. However, in the last couple of weeks we've had more buyers reaching out to us and asking us for help. 

At the same time we've noticed some interesting trends with our website traffic, which we like to track because it provides some insight into how engaged buyers are with the market. As you can see from the graph below, traffic dropped dramatically in the middle of March...BUT, it has been slowly climbing these last few weeks and is now much higher than it was the year before. 

Demand for Madison WI Real Estate

Buyer interest is strong right now.

Even though there will be fewer homes bought and sold this year, there are still plenty of buyers out there who are waiting for the

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For most buyers, financing is the first thing to think about when buying a home. A changing economic climate due to COVID-19 has begun to affect financing for some loan programs. Plus, the financing process has moved entirely virtual. Dave Leeder and the team at Inlanta Mortgage are helping many of our clients navigate these changes. Below are some of their top suggestions for buyers based on the current circumstances.

A buyer holding the key to their new home

As always, you should start the mortgage pre-approval process early. Ideally, you should have your pre-approval before you begin your search. This will help you understand which loan programs may be available to you, and how much you may be able to borrow for your new home.

Then, be sure to keep your lender up to date with any

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We're more than a month into this pandemic and we're learning many of you are still moving forward with your plans to buy your dream home. You have important, personal reasons for buying at this time, and you're committed to buying in a manner that respects social distancing. As we continue to assist many of you during the pandemic, we thought it would be interesting to share why some of you are choosing to buy right now, at a time when others are putting their plans (or being forced to put their plans) on hold.

Why People Buy During a Pandemic

Why you're buying a home or condo during the pandemic

Here are some of the main reasons why many of you are choosing to buy right now, even though there's so much uncertainty in the world around us. 

1) You want your own safe haven

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Virtual tours have quickly become an indispensable marketing tool for sellers in our new era of social distancing. As we adjust to a new market, we're learning many buyers are comfortable using virtual tours as a substitute for the traditional walk-through. They're using virtual tours to learn about the features, flow, and condition of a property. And in many cases buyers are writing an offer without ever setting foot in the home.

Virtual Property Showings by Mad City Dream Homes

4 types of virtual tours

There are several types of virtual tours, each with its own advantages. Here are 4 different technologies which we're making available to all of our home and condo selling clients right now. 

Full-motion video tours

Starting at the front door, a full-motion video tour takes buyers through

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Homestead Title's drive-up closingWhen you think of closing on your home, you might envision yourself signing paperwork around a big conference table, followed by getting the keys to your new home. Just like most parts of the real estate buying and selling process, the closing process has been adjusted to keep you safe. Read below for the many options Homestead Title is giving our clients for closings. They also have shared tips for buyers and sellers who will be closing soon.

A new venue for closing - your car!

Some title companies have made minor adjustments to the closing process by offering clean pens, scrubbed tables, more distance between parties, and limiting the number of people attending closings. Homestead Title has gone a step further to protect clients, offering

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A few days ago one of our buyer clients was elated to learn that her offer for a west side condo was accepted. This may seem hard to believe, but there were 8 other buyers who wrote an offer on the same property. You may be wondering, how is it possible that we're seeing so many competing offers at a time like this? It doesn't make sense that this would be happening during a pandemic.

The answer is, it's all about scarcity. Here's a quick look at how scarcity is shaping our market this Spring. 

scarcity in the Madison WI real estate market

Scarcity in the Dane County condo market

There are fewer buyers participating in the market right now - and fewer sellers, too. Here are the trends we're observing in the Madison area condo market. 

The under $250k condo market is highly

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Many of you have a lot more interest in the real estate market than you did just a month ago, so we'll be sharing much more info on how the market is evolving in the weeks and months ahead. We've just published our latest Madison condo report here, but here's a shorter version of where the condo market is right now - and where we see it going.

Madison WI Condo Market April 2020

Here's a quick summary of the March condominium market:

  • Madison condo sales were up 12% from March of 2019. 
  • The condo price per square foot increased by 10% in March and 8% year-to-date. 
  • The number of expired listings and the average days on market were very low in March. 
  • New condo listings decreased to the lowest level since 2003. 
  • Accepted offers also decreased. This was due primarily
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Debbie Lea virtual staging exampleMany parts of the real estate process can be done virtually, including staging. Staging is an important part of the home selling process. A staged home tends to have better listing photos, which attracts more buyers and helps it sell faster. For a while now, a home's first showing has been on the internet. But in this unique time of social distancing, listing photos and a virtual tour may be the only ways a buyer can see your home before writing an offer. It's more important than ever to showcase your home through great staging, photos, and a virtual tour.

 

Debbie Lea

Debbie Lea of Showcase Home Stagers has been helping clients virtually for years, so staging a home without ever stepping inside isn’t a new challenge for her. Due to the COVID-19 pandemic,

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