Mad City Dream Homes Real Estate Blog, Madison WI

While many of us enjoy backyard gardening, not everyone has access to land to grow their own gardens and there are barriers to successful community-based gardening efforts. Rooted, a local nonprofit based in Madison, is helping to create “healthy, equitable, and sustainable neighborhoods'' that embrace the positive impact of sharing fresh, quality food through community gardening. Rooted’s Community Gardens Network is just one of the organization’s programming efforts focused on food, land, and learning.

The Community Gardens Network is a partnership between Rooted, UW Madison Extension Dane County, and the City of Madison that connects people with the land, education, and resources to create and sustain community gardens. There are 72 gardens in the

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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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We love helping each seller create a presentation that makes them feel proud of their listing, no matter the price point. With staging, cosmetic updates, photography, video, and professional marketing of the home and neighborhood -- we have so many wonderful opportunities to create a showcase listing. 

(photo by Step Inside Media with staging by Debbie Lea and Alan Feder)

Have you been wondering about the possibilities for your home? Contact us for a helpful consultation. We're here to help you plan for your future and prepare for an amazing return on your investment. 

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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 appraisal and home inspection contingencies. 

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

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Here are 3 big reasons why most sellers choose to offer buyer brokerage compensation: 

#1) Most buyers still pay with a mortgage and need to allocate their cash toward their down payment. 

#2) In today's market, many buyers need a cash cushion so that they can waive the appraisal contingency and cover for a low appraisal. 

#3) And just as important, many buyers need a cash cushion to budget for future home repairs, instead of asking the seller to make inspection-related repairs. 

The bottom line: Buyers with more cash on hand can offer a higher price and write a cleaner offer without an appraisal or inspection contingency. So it's the sellers who offer to pay the buyer brokerage compensation who tend to receive the best offers, and a lot more

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Many older ceiling fans are big and bulky and can make a room feel crowded and dated. But many of the newer models are sleek and stylish and offer the perfect complement.

Would you like help selecting a ceiling fan for a room in your home? Please feel free to call us. Today's selection offers some beautiful and affordable designs, and we'd love to help you choose the right one. 

While we're at it, we can help you update your light fixtures, too, and connect you with a reputable contractor to install them. 

ceiling fans complete a room

(Photo by Step Inside Media with staging by Debbie Lea and Alan Feder)

 

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Here's our May update on the Dane County condo market, covering 8 key trends impacting buyers and sellers. 

Dane County condo prices

For the first time in a long time, the price per square foot edged lower. Does this mean that local condo prices are falling? We don't think so.

Remember, prices can swing a lot from month-to-month due to the relatively low number of sales in the condo market. A few high-priced or low-priced transactions can have a big impact on the monthly numbers.

Tracking the overall trend is the best way to evaluate prices. With this perspective in mind, it's important to note that the Dane County price per square foot is up by 8 percent through the first 5 months of the year. 

Madison WI Condo Prices May 2024 

Here are the May numbers for 3 different

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Home prices continued to rise in the month of May, and by all measures. Here's our latest report and commentary on the Madison area single family home market. 

Dane County home prices

The price per square foot grew by 6 percent year-over-year, and by 7 percent year-to-date. 

Madison WI Home Prices May 2024

Dane County home prices were up by all measures: 

  • The price per square foot grew from $230 in May of 2023 to $244 in May of 2024 (an increase of 6 percent). 
  • The average price grew from $519,479 to $550,576 (up by 6 percent). 
  • The median price increased from $450,000 to $494,000 (up by 10 percent). 

 

New MLS Listings

Listing activity improved slightly in the month of May, but remained low compared to most other years this century. We expect home

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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 

 

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More and more, I’m noticing businesses choosing to exercise their legal rights -- based on language that is spelled out in some sort of fine print. Sometimes it involves making demands for money, threatening to sue, or following through with a lawsuit. In other cases, it’s using the fine print as a justification to do substandard work. 

But before we exercise our legal rights, it might be helpful to think about how our own fears and actions might be contributing to the conflict. And how a conversation with the other party might help us come up with a long-term solution that is better for everyone. 

Sure, there are times when we absolutely need to exercise our legal rights. But we should also examine our own responsibilities before we decide to

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