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Four reasons why homeowners should consider selling in the fall.
I’m sure you’ve heard that spring is always the best time to sell your house. While spring is traditionally a good time to sell, each other season also has its advantages. Here are a few reasons why you should consider selling in the fall:
1. Inventory. There’s less inventory in the fall compared to the spring and summer months. While there may be fewer buyers out there, you’ll also have less competition.
2. Buyer quality. The buyers during this time of year are typically more serious than those out on a nice day looking at an open house or touring homes to get decorating ideas.
3. School and weather. Summer vacation is over now, and kids are back in school. The weather is also very nice this time of year.
4. Autumn marketing. Fall décor will look great in the photos of your house. A cozy house is very inviting.
If you have any questions about selling or listing your house, please reach out to me at (608) 212-5743. I look forward to helping you.
You have options to safeguard yourself from fluctuating rates.
The Federal Reserve has increased rates multiple times this year so far and will continue to do so throughout 2022. That means if you’re in the process of buying a home, the rate your lender quotes could increase sometime in the future. So what happens if interest rates increase after you’ve already gone under contract? Is there any way to protect yourself?
First of all, when we’re writing an offer with a financing contingency, we typically determine whether your rate is fixed or variable and what terms would allow you to cancel the contract. In a rising market like this, you should get a mortgage rate lock as soon as possible in the process to prevent your rate from increasing further. Some lenders have products that let you lock before your offer gets accepted, but you may have to pay a higher interest rate to do this.
Second, ask your lender if they provide float-down options, which prevent your rate from rising but allow it to lower if market rates begin to fall again. Be advised, though, that float-down options typically come with an extra cost in exchange for a lower rate.
If you have any questions or would like to learn more about mortgage rate locks and float-down options, don’t hesitate to give me a call or send an email. I’d be happy to help you.
Here are the top three remodeling projects in terms of return on cost.
When it comes to remodeling your home, which projects stand the best chance of getting your money back when you sell? Sellers often ask about home upgrades, so today I’ll talk about the three that will get you the biggest bang for your buck according to data from Remodeling Magazine. You can look over their Remodeling 2021 Cost vs. Value Report for 2022 here. These are the top three according to the report:
1. Garage door replacement. According to Remodeling Magazine, replacing your garage door has the No.1 return on cost, with a national average of 93.3%. It’s definitely a good way to increase your home’s curb appeal.
2. Installing manufactured stone veneer. Putting stone veneer on the outside of your home will spiff up your curb appeal, too. On average, you’ll recoup 91.4% from the project.
3. Minor kitchen remodel. On a full kitchen remodel, you’ll get about 50% of your money back when you sell. A minor kitchen remodel, however, will bring you a 71.2% return.
If you’re thinking about doing any remodeling, I encourage you to talk to your Realtor and get some estimates on the projects you had in mind. If you’d like my advice or have any questions, don’t hesitate to give me a call or send me an email. I’d love to help you.
© 2021 Zonda Media, a Delaware Corporation. Complete data from the Remodeling 2021 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
Here are a few of the many ways to sell your home based on your situation.
It’s no secret that this is a tough market. People looking to buy and sell a home at the same time are in a tricky spot. Sure, you can sell your old house easily, but how can you buy a new one without going homeless?
In a balanced market, it isn’t too difficult to line up your home sale with your purchase, but we are far from a balanced market. There are many ways to accomplish this goal, but I can only share a couple in this short video. Please reach out to me to go through your specific situation.
In a hot seller’s market like ours, you have two main options:
If you have questions about which option is right for you, please give me a call or shoot me an email. I’d love to talk with you about your options and your specific circumstances.
Looking to sell a Dane County home? Get a FREE home value report here
Today’s Madison market update is geared toward what sellers need to know.
Today I’m discussing what happened in our Madison area real estate market in 2021. I’ll also talk about how that affects our current market and what it will mean if you’re considering selling this year. Based on current conditions and what’s likely to come, now may be the best time to sell your house, and today I’ll explain why.
Feel free to watch the full message above, or use these timestamps that will direct you to various points in the video:
0:00 — Introduction to today’s topic
0:58 — Number of homes on the market
2:05 — What prices are doing right now
2:35 — What interest rates are doing right now
3:03 — What to expect from the second-home market
3:58 — What all this means for you
4:34 — Wrapping up today’s topic
If you’re ready to get the selling process rolling or have any questions, give me a call or send an email. I would love to be your real estate resource.
Selling your own home is probably a little more difficult than you think.
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If you’re thinking about selling your home and looking at the market conditions, it’s tempting to try and sell it yourself. Homes are selling quickly and over asking price on a regular basis, why not just save on the commission and list the property yourself?
You might be able to sell your home for a good price and get a little bit extra in your pocket, but maybe not. The thing about FSBOs is that buyers are looking for deals on them, too.
You could be leaving thousands on the table by not selling with an agent.
The danger in selling your own property is not properly exposing it to the market. A recent client we were working with was leaning toward accepting a cash offer with no contingencies. We convinced them to list with us and they were sure glad they did. Once the home was listed, it ended up selling for $200,000 over list price after receiving 24 different offers.
I understand the thought process of sellers who just want a quick sale and an easy close. Maybe it is the right answer for you. However, you could be leaving tens, if not hundreds of thousands, of dollars on the table by selling your own home to a cash buyer.
I recommend interviewing a Realtor and spending some time with them to see what the numbers say about what you’ll sell for with one versus without one.
If you have any questions about selling a home or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
Here are my answers to common questions from potential sellers.
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Today I’m answering some common questions I’ve been getting from potential sellers in this crazy market:
1. Why do I need an agent in this market? People think that because this market’s so red-hot and there are buyers everywhere they can just list their property as for-sale-by-owner and have tons of offers. In my experience, you need to expose your house to the most buyers possible. Your house also needs to be on the MLS, and you need to hire a great agent to get you through all the hiccups that come along the way. They will help you expose your home to the market, price it correctly, prepare for closing, and help you get it set up with a title company.
Get an agent who has a thorough understanding of where we are in the market right now.
2. How do I determine who’s the right agent to help me? Find a trustworthy agent. Maybe it’s an agent that has been referred to you and vetted. You need to make sure they’re not just a great salesman, but also have experienced multiple-offer situations, have been in the market long enough to understand how things work, how to negotiate multiple offers, how to present those offers to you in a meaningful way, and how to price your house correctly.
Even though the market is kind of nuts and things are selling for over list price, if you price too high, your house is going to sit. Get an agent who has a thorough understanding of where we are in the market right now.
I’ve been in real estate since 2005, so this is my 16th year in the business. I can help you price correctly and negotiate in multiple-offer situations so that you get the best price on the best terms in the time frame that you desire.
I’d welcome the opportunity to speak with you to see whether we’re a good fit. If you have any other questions, please contact me at 608-212-5743. Feel free to leave a Text—that is the best way to reach me. Have a great day.
Here in Dane County, the spring market is back with a vengeance.
Want to sell your home? Get a FREE home value report.
Want to buy a home? Search all homes for sale.
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The spring market is back with a vengeance. After a full year of dealing with COVID-19 here in the U.S., a vaccine surge is on the horizon, and the economic outlook is positive. March, a historically active month for the market, is once again poised for strong performance.
Home prices continue to surge despite a slight dip in demand. The recently released S&P CoreLogic Case-Shiller 20-city price index shows that home prices have been increasing at the fastest rate since 2014. Of the 20 cities surveyed, Phoenix, Seattle, and San Diego led the pack. In Dane County, median home prices rose 15.5% in February year over year.
It was also reported at the end of February that total mortgage application volume fell by 11.4%. That’s largely due to interest rates climbing back up into the high 2s and low 3s. While it’s clear that 2021 won’t be a second consecutive year of watching rates limbo to new lows on an almost monthly basis, the Fed still intends to keep rates artificially low. Furthermore, millennials—the largest generation in American history—will continue to pour into the market after helping Zillow’s traffic skyrocket to 9.6 billion visits last year.
What can thaw our market? An uptick in inventory would certainly do the trick. An intensified seller’s market emerged in the wake of the pandemic. It has led to homes in some markets fetching a jaw-dropping number of bids before going under contract for tens of thousands of dollars over list price.
However, it also hampered sales a bit. “Pending home sales fell in January because there are simply not enough homes to match the demand on the market,” said Lawrence Yun, chief economist for the National Association of Realtors. With more sellers primed to enter the market, weary homebuyers may find a smidgen of relief—but they still won’t be calling the shots. (Offers over list price will still be par for the course).
Home prices have been increasing at the fastest rate since 2014.
Would-be sellers who sidelined their plans last spring due to COVID-19 may feel more optimistic this year. They’ve watched the 2020 housing market triumph in the face of adversity, and they’re seeing consumer confidence rise.
More inventory this spring could grease the wheels of the housing market and lead to huge increases in sales. What does this mean for you? Though some buyers may be deterred by interest rates ratcheting up a bit, many more are rushing to lock in affordable monthly payments while they still can.
For sellers, the competition will increase markedly over the next few months. Netting top dollar is still more than possible, but overpricing a home and failing to prepare it for the market are losing strategies. Buyers and sellers alike need to work with a skilled professional to navigate this March market madness.
If you’ve even been entertaining the idea of selling your home at all this year, I invite you to use my home valuation link to see what your property is worth. If you want an even more accurate picture of what your home could sell for, reach out to me personally. I’m talking to both buyers and sellers around Dane County every day, and I can help you make the right decision for whatever you decide to do.
Here’s what you must do to prepare your home for our market.
Want to sell your home? Get a FREE home value report.
Want to buy a home? Search all homes for sale.
Check out the new app now!
So you’ve decided to put your home on the market—what happens next? Here are the steps you need to take that will lead to a quick and lucrative sale:
First, schedule a consultation with a Realtor (preferably us!). This will help clarify your goals and give your Realtor a chance to find out more about your situation. After that, have a market analysis done. Part of this requires giving your Realtor a tour of your home so they can learn more about it, answer your questions, and compare it to your competition. In this COVID-19 era, you can always do a virtual tour via Zoom or FaceTime.
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Our supply of inventory in the Madison metro area is extremely low (one to 1.5 months), so you already have an advantage as a seller.
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Once that’s completed, it’s time to prepare your home so that it appeals to the most buyers. This means getting a staging consultation. If you work with our team, we’ll hire a professional stager to visit your house and plan how to make it appeal to the most buyers while using the least amount of resources. We’ll make it look its best for listing photos and 3D tours (which we pay for). During these times, your first showings will be virtual anyway, so that’s where your home needs to shine.
At this point, you may be wondering: Is now even a good time to sell? Absolutely! Our supply of inventory in the Madison metro area is extremely low (one to 1.5 months), so you already have an advantage as a seller. You can dictate the terms of your contract and be in a great negotiating position.
If you’d like to start your home selling journey, get in touch with me today and my team and I will get to work on maximizing your sale. If you have any other real estate questions, feel free to reach out to me as well. I’m here to help.
Today I’m sharing when you should begin preparing to sell your home and our current Madison and Dane County real estate market update.
Want to sell your home? Get a FREE home value report.
Want to buy a home? Search all homes for sale.
If you’re considering selling your home in 2020, when should you start that process? The answer is now! You may not be ready to go onto the market right away, but you can certainly begin a few things that will make that process easier later.
I also want to discuss what’s happening in the Madison and Dane County real estate markets. The best month for accepted offers is typically April. March and May are only slightly less so. December is usually our slowest month, but when we looked back through the numbers for the last 30 days, 336 properties went under contract in Dane County, so even in the habitually unfavorable time of year to sell, which includes the holidays, people were still buying and selling houses.
To have the maximum number of buyers see your property, you should put it in on the market by March 1. Many people will bring their house to the market after that, and that’s when we start to see the inventory spike. Currently, in Madison, we have 1.2 months of inventory. What does that mean? A balanced market that doesn’t favor buyers or sellers is about five to seven months’ worth of inventory. Any less than that and sellers are at an advantage because there’s more demand.
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To have the maximum number of buyers see your property, you should put it in on the market by March 1.
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The more serious buyers are out looking for properties now when the weather isn’t so pleasant. (Though our weather has been great lately?) If you’re considering selling your home, now is an excellent time. There are buyers out there ready and willing to purchase your house.
Call or email me and I’ll get a market analysis set up for you to see what you need to do to prepare to sell. As always, reach out to us with any questions as well. We would love to help you.
