I recently took a trip to Denver with a good friend of mine. In fact, he was moving out there from Milwaukee to take a different job. As many people who know me would agree, that I'm quick to jump on an opportunity for a vacation to Colorado. I love the mountains and the many outdoor activities in Colorado. Aside from my own love of the mountains, I was struck by some of the similarities of Downtown Madison and Downtown Denver. Now I understand, as of 2008 estimates, Denver has an estimated 598,707 people and Madison only has about 231,916. But if you look closely there are some similarities.
For example, my friend moved to an area that has a number of newer high rise condos and apartments, called Riverfront Park area with buildings like the Manhatten, and The Glass House. This reminds me of an area along West Washington ave in Madison with Capitol West, Metropolitan Place, or the Loraine. This downtown culture is targeted toward people who like to live in an urban environment where you can walk to a variety of activities. In fact, one comment I heard from Joe Alexander (President of Alexander Company and Developer of Capitol West), "we have a number of buyers that come from larger cities like Chicago." Though Madison is certainly not a New York or Chicago, there are some aspects of Madison that resemble a larger city.
Some other areas that struck me as similarities in Denver and Madison is the close proximity to numerous cultural activities, a large convention center, a pedestrian mall, access to public transit, and a good network of bike paths. There's the Overture Center or Kohl Center, similar to the Colorado Convention Center or Pepsi Center. State Street is full of unique shops, while the 16th street mall entices shoppers. Denver has a vast network of public transit with buses and trains, while Madison has Metro.
Then there's the obvious differences of climate and landscape. Madison will never have the mountains and the average of 300 sunny days a year, just like Denver will never have a city built around Lakes and the Midwest climate. But similarly, in Denver you can take a trip out to the wilderness in the mountains, and in Madison you can take a ride up to Devil's Lake for some natural beauty.
Lifestyle choices are very personal. People move all over the world in search of the, "best place to live". I recall talking to some people just the other day about, "wanting to retire in the best climate in America." I think they were not referring to the harsh Wisconsin winters, but instead looking to Florida or Arizona. Maybe the "best" place to live is in Denver, Madison, New York, Orlando or Phoenix. That's for you to decide. If you're familiar with Downtown Denver and like it, then you might like Downtown Madison as well. I think they have quite a bit in common.
Thursday, July 2, 2009
Thursday, June 11, 2009
Auctions, bidding, and other deals...
With the real estate market going through some painful changes, I have come across a few items that I thought were worth mentioning. Last week I met with an auctioneer from the Watertown area. He has been doing real estate and personal property auctions for years and has noticed a considerable increase in business in 2009. I suppose that makes sense with the downturn in the economy. I have also spoke with a number of attorneys that site 2009 as being an especially busy time for those that focus on bankruptcies.
The point of it all is to discuss the role of auctions within real estate. Historically, most Realtors have focused on trying to, "get the most money in the least amount of time." However, this may or may not always be the easiest thing to accomplish. One method of selling properties is to price it at or slightly above fair market value and then adjust the price downward or improve the condition, if it has not sold within a specified time frame. Auctions deal with this situation in reverse. They start with a price that is far below the estimated fair market value and attempt to entice multiple bidders to compete, thus raising the price.
Last month J.P. King completed an auction in Sun Prairie with some developer close-out properties. In fact, there is another auction coming up in Wisconsin Dells with a number of luxury condominium units on Lake Delton that will be sold on June 21st. My guess is that there could be some great values. In fact, I'm planning to attend the auction with a few registered buyers. Another property that I came across is a large fraternity house located on Lake Mendota. This property has a tax assessment at $1,286,000 and is taking bids up until June 26th, 2009. In this situation, it's a sealed bid auction and buyers are encouraged to submit their highest and best offers. Click Here if you're interested in more information about these upcoming auctions.
Similarly, I recently helped a friend purchase a home in the Oregon area, that was listed by a local real estate broker at an extremely low price. In fact, the home had 10 showings scheduled the first day that it hit the market, and received 4 offers by the end of the day.
The bottom line with real estate auctions, they are designed to put a deadline on the sale. A very low price tends to attract multiple buyers and if there are a lot of buyers, then the price can easily climb upward. For any home seller's out there having a difficult time, one possibility is to consider trying to sell your home "auction style". If there are concerns about selling too cheap, then you could build in a "reserve" price that is the minimum. This is different than an absolute auction, which are sold to the absolute highest bidder. Whether listing with an auctioneer or traditional real estate broker, this alternative method of selling might work for your situation. Especially if you have a deadline by which you must sell.
A word to the wise with auctions, they can move very quickly and I would suggest studying the local market very well before making any bids. Otherwise you risk paying too much for a property and it may take years to recoup your investment.
The point of it all is to discuss the role of auctions within real estate. Historically, most Realtors have focused on trying to, "get the most money in the least amount of time." However, this may or may not always be the easiest thing to accomplish. One method of selling properties is to price it at or slightly above fair market value and then adjust the price downward or improve the condition, if it has not sold within a specified time frame. Auctions deal with this situation in reverse. They start with a price that is far below the estimated fair market value and attempt to entice multiple bidders to compete, thus raising the price.
Last month J.P. King completed an auction in Sun Prairie with some developer close-out properties. In fact, there is another auction coming up in Wisconsin Dells with a number of luxury condominium units on Lake Delton that will be sold on June 21st. My guess is that there could be some great values. In fact, I'm planning to attend the auction with a few registered buyers. Another property that I came across is a large fraternity house located on Lake Mendota. This property has a tax assessment at $1,286,000 and is taking bids up until June 26th, 2009. In this situation, it's a sealed bid auction and buyers are encouraged to submit their highest and best offers. Click Here if you're interested in more information about these upcoming auctions.
Similarly, I recently helped a friend purchase a home in the Oregon area, that was listed by a local real estate broker at an extremely low price. In fact, the home had 10 showings scheduled the first day that it hit the market, and received 4 offers by the end of the day.
The bottom line with real estate auctions, they are designed to put a deadline on the sale. A very low price tends to attract multiple buyers and if there are a lot of buyers, then the price can easily climb upward. For any home seller's out there having a difficult time, one possibility is to consider trying to sell your home "auction style". If there are concerns about selling too cheap, then you could build in a "reserve" price that is the minimum. This is different than an absolute auction, which are sold to the absolute highest bidder. Whether listing with an auctioneer or traditional real estate broker, this alternative method of selling might work for your situation. Especially if you have a deadline by which you must sell.
A word to the wise with auctions, they can move very quickly and I would suggest studying the local market very well before making any bids. Otherwise you risk paying too much for a property and it may take years to recoup your investment.
Wednesday, June 3, 2009
Everyone Wants a Lower Price, But What About the Impact of Interest Rates?
The following is an email from Craig Igl, Mortgage Lender at South Central Mortgage, A Chase Affiliate. Re-printed with permission.
When shopping for a home, the natural tendency of any buyer is to want to pay the lowest price possible. It's important to keep in mind, however, that the sales price is not the only factor that determines what the monthly payment will be. In fact, the impact of higher interest rates can easily nullify any benefit of waiting for a lower price.
Why Should I Rush to Buy?
While you may have heard discussions in the media about the decline of property values in many markets, the rate of decline appears to be stabilizing.
That being said, it would not be unreasonable for buyers to want to hold out for an additional decline of 10%, hoping to capture the best possible price. However, as property values have declined in many areas to 2003 levels or lower, waiting longer to pull the trigger could be a mistake. Many markets are reporting that lower property values have been bringing out investors and the result has been multiple offers on many properties. Properties priced correctly are not declining and, in fact, are creating a lot of interest.
Interest Rate Complacency
The problem is that many home buyers have been lulled into a sense of complacency because of extremely low interest rates. Since the Federal Reserve initiated its program of buying mortgage-backed securities, which control the rates people pay for their home loans, rates had been range bound, bouncing between 4.50% to 5.00% for a 30-year fixed-rate loan.
But buyers shouldn't be confused by this. These rates are artificially low! Historically, interest rates have been above 6.00%. And any rate obtained below this number is a great deal, especially on homes with price tags from 2003!
Markets are Unforgiving
The last two weeks of May showed just how unforgiving the markets can be for people who choose to procrastinate. In just five days, interest rates from many lenders increased anywhere from .50% to 1.00% as fixed-income investors demanded more for their money.
For anyone who was waiting for prices to drop even more, a 1.00% increase in interest rate would bring a higher monthly principal and interest payment on a home, even if the price of that same home had fallen an additional 10% in value.
If your clients are waiting for prices to fall even lower, be aware that while holding out for a lower price may help them win the battle, they could lose the war in terms of monthly payments and overall affordability. With the Federal Reserve scheduled to end its buying of mortgage-backed securities this year, rates only stand to go higher for those that wait. In fact, interest rates are already on the rise and could go higher from here.
Clock is Ticking on Free Money
If you have clients who are planning on purchasing their first home this year, be sure to let them know that they need to take possession before 12/01/2009 to be eligible for a tax credit of up to $8,000. In a survey conducted in March by Move.com, nearly 50% of home buyers are currently unaware that this free money exists in the marketplace. And since over 50% of all buyers are first-timers in today's market, this could impact a lot of your clients.
If you have questions about this update, give us a call. I can show you how waiting for the lowest price could really cost your clients more in the long run.
Sincerely,
Craig Igl
South Central Mortgage, A CHASE Affiliate
608-662-7778
craig.j.igl@chase.com
When shopping for a home, the natural tendency of any buyer is to want to pay the lowest price possible. It's important to keep in mind, however, that the sales price is not the only factor that determines what the monthly payment will be. In fact, the impact of higher interest rates can easily nullify any benefit of waiting for a lower price.
Why Should I Rush to Buy?
While you may have heard discussions in the media about the decline of property values in many markets, the rate of decline appears to be stabilizing.
That being said, it would not be unreasonable for buyers to want to hold out for an additional decline of 10%, hoping to capture the best possible price. However, as property values have declined in many areas to 2003 levels or lower, waiting longer to pull the trigger could be a mistake. Many markets are reporting that lower property values have been bringing out investors and the result has been multiple offers on many properties. Properties priced correctly are not declining and, in fact, are creating a lot of interest.
Interest Rate Complacency
The problem is that many home buyers have been lulled into a sense of complacency because of extremely low interest rates. Since the Federal Reserve initiated its program of buying mortgage-backed securities, which control the rates people pay for their home loans, rates had been range bound, bouncing between 4.50% to 5.00% for a 30-year fixed-rate loan.
But buyers shouldn't be confused by this. These rates are artificially low! Historically, interest rates have been above 6.00%. And any rate obtained below this number is a great deal, especially on homes with price tags from 2003!
Markets are Unforgiving
The last two weeks of May showed just how unforgiving the markets can be for people who choose to procrastinate. In just five days, interest rates from many lenders increased anywhere from .50% to 1.00% as fixed-income investors demanded more for their money.
For anyone who was waiting for prices to drop even more, a 1.00% increase in interest rate would bring a higher monthly principal and interest payment on a home, even if the price of that same home had fallen an additional 10% in value.
If your clients are waiting for prices to fall even lower, be aware that while holding out for a lower price may help them win the battle, they could lose the war in terms of monthly payments and overall affordability. With the Federal Reserve scheduled to end its buying of mortgage-backed securities this year, rates only stand to go higher for those that wait. In fact, interest rates are already on the rise and could go higher from here.
Clock is Ticking on Free Money
If you have clients who are planning on purchasing their first home this year, be sure to let them know that they need to take possession before 12/01/2009 to be eligible for a tax credit of up to $8,000. In a survey conducted in March by Move.com, nearly 50% of home buyers are currently unaware that this free money exists in the marketplace. And since over 50% of all buyers are first-timers in today's market, this could impact a lot of your clients.
If you have questions about this update, give us a call. I can show you how waiting for the lowest price could really cost your clients more in the long run.
Sincerely,
Craig Igl
South Central Mortgage, A CHASE Affiliate
608-662-7778
craig.j.igl@chase.com
Friday, May 15, 2009
Are you considering a move up?
If you’ve been considering a move into a more expensive home, then moving up in a down market might be a good option for you. Imagine that your current home valued at $300,000 declines in value by 5% and is now worth only $285,000. If there is another home valued at $500,000, and it also declines in value 5%, then it would now be worth only $475,000. Even though you may have “lost” $15,000 on your current home, a home that you could “move up” into will have lost $25,000. During this “move up” you have essentially gained $10,000 by the overall decline in the market.
Wednesday, April 22, 2009
Ownership improves our community - regardless of age
This blog article is a response to Rebecca Thorman's recent write-up on Modite.com.
Thorman recently wrote that, "Life and community, my friends, just isn’t the same. And nowhere is this so obvious, in-your-face and damning than the current alarm of the real estate market."
Not the same? I would have to agree. It's not the same, but would argue that it's not due to the real estate market decline. Life and community has changed dramatically with the increase in flow of information (email, cell phone, text, facebook, twitter, etc.) Community is all about how we interact in this crazy world. If anything our interactions have been increased by this heightened level of communication in the information age of the past 10-20 years.
She goes on, "Before the economy collapsed, young people were being locked out of the housing market by astronomical housing prices and by our predecessors, Generation X and the Baby Boomers, who grew even richer."
I don't believe that's entirely true. Many people (young, old, and in between) flooded the real estate market more than ever between 2000 and 2006 because a lot more people could finally qualify for a loan without much of anything. During that time there were loan programs that would lend money for a mortgage to someone with no income, no job, and no assets. Aha...young (or old) person with not much money says, "sweet, I can buy a house." Then all of a sudden they lost their job at XYZ company and had a difficult time paying their mortgage. But it's all good because they didn't really have any money (aka down payment) in the game anyway, so they just walked away. And foreclosure rates are higher now than a year ago. Big surprise.
Thorman goes on, "Now that the housing market has collapsed, it means more young people are content with not owning a home. But as the prevailing American sentiment goes, if you don’t own something, you don’t have a stake in the future of our country. Young people don’t buy that. Literally.
Ownership is an antiquated belief belonging to another generation. Gen Y abandons ownership. Instead, today’s young people subscribe to a culture of services and leasing."
Attention generation Y: you are young and will likely change your mind. A lot. In fact that's what a lot of young people do. And that's okay. Have you ever heard of a "young person" change their major in college? How about change where they live? What they do for work? How long does a typical high school dating relationship last? Not long.
Here's the point, when you're young you don't know any better, so you try a lot of different things. You're out there in the world just trying to make sense of everything. If you knew the value of staying with a particular thing (job, relationship, home, etc) long term, then you might stay put. Changing jobs might be good advice for someone that has no idea what they want to do, but switching constantly may not be the best advice. In fact, staying put might work out to your advantage because it's easier to move up within an organization when everyone else leaves.
"I'm tired of throwing money away on rent." That's what I hear most from the first time buyers that I work with to help them purchase a new home. Other's say, "I'm ready for a place that I can officially call my own and paint the walls whatever color I want." The government encourages home ownership with the new $8,000 tax credit. I wonder why?
Ownership is important. When you own something you care more. I remember a trip to California with a friend of mine to attend a wedding and he was beating the heck out of this "rental car". Hey renter, have you ever done that? Why is it that 1-owner used cars sell better? Landlords own real estate typically to make investment income, but pull their hair out when the tenant trashes the place (just ask anyone who owns a rental property by the University that has replaced the carpeting every year). Have you ever noticed that the projects at work or school really take off the best when one person (or group of people) really bundle together and take ownership of it? Compared to the projects when someone says, "it's not my job" or "I don't want that responsibility".
I would argue that local community thrives as more people care. And people care, when they own. Go out and buy something. Be willing to make the commitment to something big. Take ownership in that house, car, idea, job, or whatever else. Own it and run with it. That will improve the local community and the local economy, which in turn helps everyone.
Thorman recently wrote that, "Life and community, my friends, just isn’t the same. And nowhere is this so obvious, in-your-face and damning than the current alarm of the real estate market."
Not the same? I would have to agree. It's not the same, but would argue that it's not due to the real estate market decline. Life and community has changed dramatically with the increase in flow of information (email, cell phone, text, facebook, twitter, etc.) Community is all about how we interact in this crazy world. If anything our interactions have been increased by this heightened level of communication in the information age of the past 10-20 years.
She goes on, "Before the economy collapsed, young people were being locked out of the housing market by astronomical housing prices and by our predecessors, Generation X and the Baby Boomers, who grew even richer."
I don't believe that's entirely true. Many people (young, old, and in between) flooded the real estate market more than ever between 2000 and 2006 because a lot more people could finally qualify for a loan without much of anything. During that time there were loan programs that would lend money for a mortgage to someone with no income, no job, and no assets. Aha...young (or old) person with not much money says, "sweet, I can buy a house." Then all of a sudden they lost their job at XYZ company and had a difficult time paying their mortgage. But it's all good because they didn't really have any money (aka down payment) in the game anyway, so they just walked away. And foreclosure rates are higher now than a year ago. Big surprise.
Thorman goes on, "Now that the housing market has collapsed, it means more young people are content with not owning a home. But as the prevailing American sentiment goes, if you don’t own something, you don’t have a stake in the future of our country. Young people don’t buy that. Literally.
Ownership is an antiquated belief belonging to another generation. Gen Y abandons ownership. Instead, today’s young people subscribe to a culture of services and leasing."
Attention generation Y: you are young and will likely change your mind. A lot. In fact that's what a lot of young people do. And that's okay. Have you ever heard of a "young person" change their major in college? How about change where they live? What they do for work? How long does a typical high school dating relationship last? Not long.
Here's the point, when you're young you don't know any better, so you try a lot of different things. You're out there in the world just trying to make sense of everything. If you knew the value of staying with a particular thing (job, relationship, home, etc) long term, then you might stay put. Changing jobs might be good advice for someone that has no idea what they want to do, but switching constantly may not be the best advice. In fact, staying put might work out to your advantage because it's easier to move up within an organization when everyone else leaves.
"I'm tired of throwing money away on rent." That's what I hear most from the first time buyers that I work with to help them purchase a new home. Other's say, "I'm ready for a place that I can officially call my own and paint the walls whatever color I want." The government encourages home ownership with the new $8,000 tax credit. I wonder why?
Ownership is important. When you own something you care more. I remember a trip to California with a friend of mine to attend a wedding and he was beating the heck out of this "rental car". Hey renter, have you ever done that? Why is it that 1-owner used cars sell better? Landlords own real estate typically to make investment income, but pull their hair out when the tenant trashes the place (just ask anyone who owns a rental property by the University that has replaced the carpeting every year). Have you ever noticed that the projects at work or school really take off the best when one person (or group of people) really bundle together and take ownership of it? Compared to the projects when someone says, "it's not my job" or "I don't want that responsibility".
I would argue that local community thrives as more people care. And people care, when they own. Go out and buy something. Be willing to make the commitment to something big. Take ownership in that house, car, idea, job, or whatever else. Own it and run with it. That will improve the local community and the local economy, which in turn helps everyone.
Monday, April 13, 2009
Awesome places to live in Madison
This past week I've been pretty busy with buyer clients. I worked with three fairly different types of people: lakefront buyers, a downtown condo buyer, and a guy looking in Oregon (just south of Madison).
For the couple looking on the lake, they really would like to buy a house but not have to spend a million dollars. In my experience, most lakefront homes in the Madison area start around $350,000 to $450,000. In fact, last year (April 13, 2008 to April 13, 2009 according to the south central Wisconsin multiple listing service) homes on Lake Kegonsa ranged from $415,000 to $665,000, Lake Waubesa ranged from $349,000 to $660,000, Lake Monona ranged from $417,000 to $1,300,000, and the highest range of lake front property went to Lake Mendota, ranging from $559,000 to $2,700,000. I've always grown up near water and been impressed with the ability of lakefront property to give a tremendous sense of calm. As one agent in my office says, "You can just tell if they are 'lake people' when they walk into the house because they walk right up to the window facing the lake." I think I must be one of those types of people because I have a tendency to do just that when viewing lake property.
Another one of my favorite areas of Madison is downtown. Downtown Madison has an incredible vibrancy to it. Living downtown means that you can walk to the farmer's market, state street, Badger games, and more. If you like cities and the urban culture that it offers, then downtown Madison is the place to be (one of my favorites). You can catch a show at the Overture center, a parade around the capitol, or just browse the unique shops on State Street. This past winter I even did a snowshoe race with some friends by the capitol. It was quite an experience with my Alaskan style snowshoes. Although living downtown is not for everyone. If you like a little quieter community, then consider just outside of Madison.
My other friend was looking south of Madison in the Oregon area. This is an area that I know well, because I graduated from Oregon High School in 1997. I grew up in the Madison area, then moved away for a while and then ended up back here in 2005 to be closer to friends and family. Oregon is a quiet community of 8721 people. One guy I know was looking in this area because he works in the Fitchburg Technology center. He wanted a close commute but also liked living more in the country. We found some nice homes that he liked just off Hillcrest Ln.
Whether you are looking at lakefront property, downtown condos, or just south of Madison in Oregon, there are a number of good options for housing in the Madison area. The key is finding out which community best fits your needs. As I typically say to my buyer clients, "think about this home in terms of what you can't easily change. For example, do you like the lot, the floor plan, the neighborhood, the proximity to work or recreation? You can always change paint color or ugly countertops, but there are other things that are much more difficult to change." If you need some help working through some of these various options, feel free to contact me.
For the couple looking on the lake, they really would like to buy a house but not have to spend a million dollars. In my experience, most lakefront homes in the Madison area start around $350,000 to $450,000. In fact, last year (April 13, 2008 to April 13, 2009 according to the south central Wisconsin multiple listing service) homes on Lake Kegonsa ranged from $415,000 to $665,000, Lake Waubesa ranged from $349,000 to $660,000, Lake Monona ranged from $417,000 to $1,300,000, and the highest range of lake front property went to Lake Mendota, ranging from $559,000 to $2,700,000. I've always grown up near water and been impressed with the ability of lakefront property to give a tremendous sense of calm. As one agent in my office says, "You can just tell if they are 'lake people' when they walk into the house because they walk right up to the window facing the lake." I think I must be one of those types of people because I have a tendency to do just that when viewing lake property.
Another one of my favorite areas of Madison is downtown. Downtown Madison has an incredible vibrancy to it. Living downtown means that you can walk to the farmer's market, state street, Badger games, and more. If you like cities and the urban culture that it offers, then downtown Madison is the place to be (one of my favorites). You can catch a show at the Overture center, a parade around the capitol, or just browse the unique shops on State Street. This past winter I even did a snowshoe race with some friends by the capitol. It was quite an experience with my Alaskan style snowshoes. Although living downtown is not for everyone. If you like a little quieter community, then consider just outside of Madison.
My other friend was looking south of Madison in the Oregon area. This is an area that I know well, because I graduated from Oregon High School in 1997. I grew up in the Madison area, then moved away for a while and then ended up back here in 2005 to be closer to friends and family. Oregon is a quiet community of 8721 people. One guy I know was looking in this area because he works in the Fitchburg Technology center. He wanted a close commute but also liked living more in the country. We found some nice homes that he liked just off Hillcrest Ln.
Whether you are looking at lakefront property, downtown condos, or just south of Madison in Oregon, there are a number of good options for housing in the Madison area. The key is finding out which community best fits your needs. As I typically say to my buyer clients, "think about this home in terms of what you can't easily change. For example, do you like the lot, the floor plan, the neighborhood, the proximity to work or recreation? You can always change paint color or ugly countertops, but there are other things that are much more difficult to change." If you need some help working through some of these various options, feel free to contact me.
Tuesday, March 31, 2009
I'm just looking...not really ready to buy...
Last week I got a call from my friend named Jenna. She has a good solid job at an educational facility. She had been renting for a number of years with a few roommates. She started to a little curious about buying a home only recently with the $8,000 first time homebuyer tax credit and extremely low interest rates. However, she thought originally of waiting for another year so that she could save up a little more money. Then all of a sudden her curiosity got the best of her because a nice condo came up for sale in her neighborhood.
As of the 4th quarter in 2008 there were 1902 condos for sale in Dane county and based on the rate of sale there are 26.8 months of inventory. Clearly a number of options are available for the discriminating condo buyer. But this particular condo that picqued her interest was in a neighborhood that she really likes. And the price was listed below the recent tax assessment. And she really liked the layout. And she really liked the neutral color scheme. And there are 3 bedrooms so she could have at least one roommate to assist with the monthly payments.
Here's a person who is "not really looking" but just happened to become interested with a combination of factors: tax credit, low interest rates, nice neighborhood, good layout, and plenty of space. In fact, when she first called me she said that she's not really interested and, "doesn't want to waste my time." I have to chuckle a little bit because this is basically my job. I help people buy and sell real estate. The step before buying and selling is to start looking. In fact, last fall I helped a couple to purchase a home on Lake Kegonsa. They were, "just looking" for nearly two years. Then all of a sudden this house came along with a number of factors that they couldn't walk away from and they decided to buy.
My goal as a Realtor is to become your source of real estate information. I'm not here to sell people a home that's not a good fit. Rather, I'm here to help people work through the process. The time will come, this year or next year, that Jenna and others like her will need to find a new home or sell their current one. If I could say one thing to all my friends, family members, and customers it would be that I'm here to be your trusted source for real estate information. If you have a question about a particular home, thinking of building, just wondering when is a good time to sell, or curious about this new home in some neighborhood you like I want you to feel comfortable contacting me without feeling pressured. Similarly, you probably should not go see a lawyer only when you have a huge problem. In fact, many attorney's that I know can do a much better job, the sooner you go see them. As a Realtor, I can help give suggestions and guidance early on that will help make your life a little easier.
Just like you have a favorite doctor, accountant, or lawyer, I want you to feel free to consider me your Realtor. I'm happy to respond to an email or a phone call when the time is right. You never know when that right home will come along. Jenna is moving this summer. How about you?
As of the 4th quarter in 2008 there were 1902 condos for sale in Dane county and based on the rate of sale there are 26.8 months of inventory. Clearly a number of options are available for the discriminating condo buyer. But this particular condo that picqued her interest was in a neighborhood that she really likes. And the price was listed below the recent tax assessment. And she really liked the layout. And she really liked the neutral color scheme. And there are 3 bedrooms so she could have at least one roommate to assist with the monthly payments.
Here's a person who is "not really looking" but just happened to become interested with a combination of factors: tax credit, low interest rates, nice neighborhood, good layout, and plenty of space. In fact, when she first called me she said that she's not really interested and, "doesn't want to waste my time." I have to chuckle a little bit because this is basically my job. I help people buy and sell real estate. The step before buying and selling is to start looking. In fact, last fall I helped a couple to purchase a home on Lake Kegonsa. They were, "just looking" for nearly two years. Then all of a sudden this house came along with a number of factors that they couldn't walk away from and they decided to buy.
My goal as a Realtor is to become your source of real estate information. I'm not here to sell people a home that's not a good fit. Rather, I'm here to help people work through the process. The time will come, this year or next year, that Jenna and others like her will need to find a new home or sell their current one. If I could say one thing to all my friends, family members, and customers it would be that I'm here to be your trusted source for real estate information. If you have a question about a particular home, thinking of building, just wondering when is a good time to sell, or curious about this new home in some neighborhood you like I want you to feel comfortable contacting me without feeling pressured. Similarly, you probably should not go see a lawyer only when you have a huge problem. In fact, many attorney's that I know can do a much better job, the sooner you go see them. As a Realtor, I can help give suggestions and guidance early on that will help make your life a little easier.
Just like you have a favorite doctor, accountant, or lawyer, I want you to feel free to consider me your Realtor. I'm happy to respond to an email or a phone call when the time is right. You never know when that right home will come along. Jenna is moving this summer. How about you?
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