ARCHIVED BLOG POSTS
2009
Although the month of September is not in the books yet, foreclosure filings in Dane County will reach a new high this month. Keep in mind that most foreclosure filings result in either a short sale or a sheriff's sale, many of which do not occur until 6 to 18 months after the filing. Expect dist...
09/29/2009
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Short sales have been in the news a lot lately, and by now we've all read and heard stories about many short sales failing. Here are some reasons why many short sales do not succeed: Improper pricing. First and foremost, a short sale needs a willing buyer and an accepted offer. A short sale prope...
09/27/2009
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You may have heard the radio spot. Prices have been drastically cut for many of the Crosswinds Condos at Hawks Landing. We've posted about the very noticeable and very real trend toward lower condo prices. There are some great values on the market right now. A bitter pill for some. An opportunit...
09/26/2009
The closing deadline for buyers seeking to take advantage of the $8,000 first time home buyer tax credit is November 30th. Unless the tax credit gets extended, first time home buyers should plan on getting their offers accepted very soon. We recommend giving yourself at least 45 days to beat the ...
09/21/2009
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Lenders are in the business of finance, not real estate. They're not designed to own a portfolio of properties. There are many good reasons why a bank will accept a short sale over foreclosure. Here are just a few: Legal fees. Foreclosure requires attorney fees that can be avoided through a shor...
09/20/2009
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We don't have the data to back it up, but the market feels like it is heating up for higher priced properties. We're experiencing a lot of buyer and seller activity for properties $250,000 and up. Time will tell, but the market feels warm in September. Dan Miller, Realtor, Certified Distressed Pr...
09/18/2009
Here's our preliminary report on the month of August based on data from the South Central Wisconsin MLS: Dane County single family home sales rose 6% last month, while the median price of $229,900 decreased by 3.9% from the August 2008 price of $239,300. Condo sales were lower by 5%, while the me...
09/14/2009
Two-and-a-half years ago a very nice west-side condo development put its 42 units on the market. But sales were sluggish. Only half of the units sold after two years of marketing. Then the development slashed the prices for all of its remaining units. Take a look at the price history for all of t...
09/14/2009
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Dane County housing starts decreased from 68 in August of 2008 to 55 last month, a drop of 18%. The graph below shows monthly housing starts dating back to January of 2005. Each red dot represents a decrease from the same month of the prior year. Each green dot represents an increase. The marke...
09/13/2009
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Mortgage rates have been slowly decreasing over the last two months, and some local lenders are now offering 30 year fixed rate mortgages for under 5%. For the latest rates from local lenders, check out the mortgage update page, under buying real estate at DaneCountyMarket.com . Have a great day,...
09/11/2009
Rainer
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Dan Miller
Helping you Buy and Sell in Madison, Wisconsin