Tag: Madison

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A Madison Buyer’s Real Estate Update

I recently put up a post about whether it was better to rent or buy here in Madison.  The Freddie Mac site I had recommended targeted both personal and financial reasons to consider one option over the other.  As a follow-up, I want to share a mortgage calculator that compares the financial impact of renting versus buying.  I found some interesting information when using the calculator with average Madison costs.  Assuming you were renting an average priced 2 bedroom apartment in Madison (data provided by ApartmentRatings.com), you would be spending $825/month.  After inputting the monthly expenditure of $825, the current average 30 year fixed interest rate of 6.1%, and a $5000 down payment, the calculator estimates that one would have the following after 30 years.

If you were spending $825/month on a mortgage:

You would own a $396,150.27 house

You would have saved $45,040.86 in income taxes on interest payments of $160,860.21.

If had rented a property for the $845:

Instead your $5000 down payment would have grown into $57,791.26

This calculator, which takes into consideration long term inflation, investment return, and tax rates, shows that Madison home ownership makes great sense.  Trulia is reporting that the average sale price for a 2 bedroom property in Madison is only $165,000 with many Madison area properties on the market for much lower.  With higher inventories and great negotiating power in Madison, now is the perfect time for buyers to step into the real estate market.  If you are considering Madison home ownership and have questions about the market or how to proceed, please feel free to contact me.

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Ready for WI Homeownership?

There is no doubt that we have entered a buyer’s market here in the Madison area.  This market, although great for all buyers, is especially great for the first time Madison area home buyer.  With plenty of mortgage options available and still amazingly low 30 year fixed rates available, people with adequate credit and stable income have enormous buying power in this Madison market.  Despite the fact that buying property in Madison continues to prove as a solid investment, buying a home is a huge decision and it is important that each person ensure that it is right for them.  I found some great tips on the Freddie Mac site that I thought potential first time home buyers may find helpful.  It lists some of the great pros to home ownership, like having your OWN place and the potential for fixed monthly payments for the next 30 years, as well as some risks of homeownership that you may not have considered.  I would urge everyone to take a look at this site and then let me know if you are interested in making a real estate purchase here in the Madison area.

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And the snow came down…

Well the snow storm came into Madison this weekend, just as expected. Even
though I know the storms sometimes cause a bit of havoc for some, I always
love being in Madison right after a snow storm. The city always looks so
beautiful, especially with all the holiday décor. I always look forward to
the outdoor activities that are possible once the snow finally hits the
ground. There are so many activities and parks in and around Madison to
choose from, but my favorite is snow shoeing at Yellowstone Lake State Park.
I love the quietness, serenity, and beauty that this portion of Madison has
to offer. It is just one of the many local tips that I get to share with
Madison home buyers moving into the area. The Madison area truly feels like
home to me, and I enjoy so much of what is offered, both man-made and
natural. I therefore love being a realtor in the Madison area. Having the
opportunity to share the best of Wisconsin while I help people buy and sell
Madison area real estate is great!

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Thanksgiving Tradition

As we all look forward to seeing our friends and families on Thanksgiving, many things often cross our minds.  It might be the wonderful turkey, the apple pie, the pumpkin pie, the cranberry stuffing, or the amazing left-overs on Friday!!  Almost all of what comes to mind is wrapped around food and the inevitable feeling of “stuffed” that will come along with it.  So I think it is a great idea to start the day off in the annual Berbee Derby in Madison.  It is a road race that you can either run or walk.  A lot of people take part in the event on behalf of a charity and I am sure their waistlines before the feast of Thanksgiving.  A quick run or walk in the Berbee Derby may help you better enjoy the holiday so you feel less guilty if you decide to indulge in that 2nd piece of pie. 

Another fun part of the holiday is all the hustle and bustle of activity that occurs with travelers that have come to Madison to visit their friends and family.  There are always great things going on in the city and plenty of prospective home buyers that may want to take a look at your Madison area home for sale. So, all of you home sellers out there, make sure you concentrate on the curb appeal of your home this upcoming holiday weekend.  There will likely be many prospective buyers very interested in the Madison area driving around to scan houses.  They may find interest in yours.  Please call me if you need any help preparing for the holiday “rush.”

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The Importance of Staging

Despite the slower paced real estate market here in Wisconsin, there are still many viable home buyers available.  A major difference between today’s market and that of a couple of years ago, is that the property inventory levels in the Madison and Middleton areas are high.  This means that prospective buyers have plenty of choices.  Madison area buyers are therefore looking at a large number of properties before deciding to make an offer.  If you want your home to be well remembered and stay on top of their list, then the first impression is crucial. 

In order to make a strong first impression, you need to properly stage your home before making it available for showings to all the Madison and Middleton area prospective buyers.  A few key staging items are in the bathroom and kitchen.  In the bathroom, be sure to avoid having grimy walls or shower doors.  Also, if you have any outdated tiles, find a paint that is appropriate for tile and add some modern colors to the room.  This, along with replacing an outdated vanity with a pedestal sink, will give the bathroom a fresh face at a low cost.  In the kitchen, consider making low cost updates by staining old cabinets instead of painting them.  Newer appliances are also key as they scream clean!!  Buyers look for clean kitchen and bathrooms, so keep those rooms show ready at all times in order to make the best impression possible.  The HGTV site has even more great staging techniques.  I would encourage you to take a look for ideas and to call me in for some suggestions.  I have great experience and success staging homes, and I work with Madison and Middleton area buyers on a regular basis.  I therefore have firsthand knowledge to many of their likes and dislikes.  So don’t hesitate any longer, give me a call and I’ll gladly come by to help you get your home show ready!!