Greater Madison Wi Real Estate Blog

 

May 17, 2020

Easy At Home Fixes To Do While Stuck At Home

 

Hi, I'm Brad Brethouwer, owner of Brad Bret Real Estate. And today I want to talk about what things you should do to your house to prep it for sale while you're sitting at home, cooped up during the whole stay at home order here through the coronavirus situation. I did a little work on my house last week and had a dining room that needed some paint and flooring and whatnot. It really didn't take long to transform that room. I have a 90s built house with kind of old dingy looking Oak trim, and I'm not selling right now, but maybe in the next few years. So I'm starting to work on some stuff.

I'm converting my trim to white in the entire house so I was going to replace all the trim, and then I decided after talking to a contractor friend, that maybe it's best to just paint the trim. So I put two coats of primer on, two coats of paint. It looks fantastic. Then changed the flooring to a luxury vinyl plank. It totally transformed the room and did not cost me much, or take me much time at all to do it. So there's really simple fixes like this that you really should be working on now if you're thinking of selling it all this year.

The market's still good. The market's going to be fine. People should be prepping for getting ready to sell April, May, June, whenever intending on putting it on the market. So this is a perfect time to start working on some of this stuff. Any questions, just reach out anytime. You can call or text me, or check us out on our website. Bradbret.com. Take care.

Posted in Home Selling Tips
May 5, 2020

April 2020 Real Estate Market Update For Deforest, Waunakee, Sun Prairie, and Madison, Wi

Today I want to go over the April 2020 market update. So despite everything that's going on, the markets have remained pretty solid through all this pandemic. In April, as you'll see as the stats go across the screen the numbers really keep an eye on are the total number of sales. So the number of listings is definitely gone down, which you know it's been such a thin inventory as it was, it's really hard to go much lower to be honest with you. But the total number of sales is the key number to me. You look at that, they're pretty consistent. If anything they're more in a couple areas, I think Waunakee area was last, but most of them are pretty similar and your average price is down for sure. That's down from what it was before.

But you got to remember you're only comparing April of 2020 to April of 2019. This is not a whole year's time span. So all in all the market staying pretty consistent through all this and going forward into next month, I suspect that it's even going to pick up some as far as the number of listings. I can only talk about my personal experiences and just for me, today is what May 5th and for me last week was probably one of the busiest weeks I've had of the year. Three properties for me personally under contract. There were some other things going on, some new listings, I've got a bunch of people lined up that are looking at listing their houses and getting things going like that. Some maybe paranoia I suppose, afraid that it's going to go down or whatever.

But it's remaining pretty active. Now, longer term I do foresee that there could be some issues with all the job loss, there could be some foreclosures coming, who knows. Nobody really knows. Knock on wood, hopefully that doesn't happen, but nobody really knows for sure. So any questions, just reach out to me anytime. You can hit me up on my website, bradbret.com or call, text or email. 

 

Posted in Market Update
April 8, 2020

The Latest Inventory Numbers for Our Area

Here’s a quick rundown of the inventory situation in our marketplace.

Thin inventory has been a problem in our market lately, but how many residential properties are for sale exactly? Here are the latest numbers as of March 2020:

 

DeForest/Windsor:

  • $250,000 and below: 0
  • $250,000-$300,000: 8
  • $300,000-$400,000: 30
  • $400,000-$500,000: 21
  • Over $500,000: 16

 

Sun Prairie/Bristol:

  • $250,000 and below: 13
  • $250,000-$300,000: 15
  • $300,000-$400,000: 34
  • $400,000-$500,000: 22
  • Over $500,000: 12

 

Waunakee/Westport:

  • $250,000 and below: 6
  • $250,000-$300,000: 2
  • $300,000-$400,000: 6
  • $400,000-$500,000: 12
  • Over $500,000: 25

 

Madison:

  • $250,000 and below: 70
  • $250,000-$300,000: 27
  • $300,000-$400,000: 138
  • $400,000-$500,000: 84
  • Over $500,000: 103

 

As you can see, things are pretty saturated. As prices go up, there are more homes in the luxury price points than the entry-level ranges. 

 

As always, if you have questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help.

Posted in Market Update
March 31, 2020

How Has Our Market Reacted to the Coronavirus Pandemic?

Though the coronavirus is greatly influencing our economy, things haven’t changed too much in our real estate market.

With the coronavirus pandemic on everyone’s minds, it’s time for a quick update on how this impacts the real estate market. In my experience, things haven’t changed too much. I’ve actually been busier than normal these past couple of weeks, but that’s to be expected this time of year. Prices may be affected due to some people losing their jobs, but everything else is moving forward as normal. To find out more, watch the video above.

Posted in Market Update
March 24, 2020

What’s Been Happening in Real Estate?

As we head into spring, I wanted to bring you the latest numbers for our market through February 2020. Here’s what you need to know.

 

Here’s your market update through February 2020 as compared to February 2019. These are the latest numbers you need to know:

 

DeForest/Windsor:

  • Sales are down 67% from February 2019
  • Average sale price is up 9% to $335,000
  • Average days on market is seven days longer than last year.

 

Sun Prairie/Bristol:

  • Sales remained flat at 43
  • The average value is up 11% to $298,000
  • Days on market is down by 13

 

Waunakee/Westport/Vienna:

  • Sales are down 29%
  • The average value is down 15% to $397,000
  • Homes are taking seven days longer to sell on average

Madison:

  • Total sales are up 5%
  • The average value is up 6% to $319,000
  • Average days on market remained flat at 54 days

 

If you have questions about any of these areas or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you.

Posted in Market Update
Feb. 24, 2020

The Latest Numbers From January


Here’s what the latest January numbers tell us about our market. 

Selling a home? Click here to check out our step-by-step home selling process.

 

Welcome to your January 2020 market update for the communities of DeForest/Windsor, Waunakee, Sun Prairie, and Madison. 

 

Typically, home sales are at their lowest yearly point in January because the market already starts slowing down during the November-December holiday season, so keep that in mind as we go over the year-over-year numbers. 

 

In DeForest/Windsor, there were 14 home sales, which is unchanged compared to January 2019, and the average home value rose 10% to $365,000. The average days on market rose from eight days to 61 days.

 

"Home sales are at their lowest yearly point in January because the market already starts slowing down during the November-December holiday season."

 

 

In Sun Prairie, there were 48 home sales, which is a 63% increase, and the average home value rose 1% to $288,000. The average days on market rose 13 days to 51 days. 

 

In Waunakee, there were 18 home sales, which is a 26% increase, and the average home value decreased 2% to $483,000. The average days on market was 84 days, which is unchanged compared to January 2019. 

 

In Madison, there were 210 homes sales, which is a 4% increase, and the average home value increased 3% to $319,000. The average days on market was 50 days, which is unchanged compared to January 2019. 

 

We should see these numbers grow as we move further into 2020. As always, if you have any real estate questions or are thinking of buying or selling a home, don’t hesitate to reach out to me. I’d love to help you. 

Posted in Market Update
Jan. 27, 2020

How Did Our Market Change Between 2018 & 2019?


In today’s market update, let’s review the numbers from the overall market in 2019 and compare them to those we saw in 2018.

Selling a home? Click here to check out our step-by-step home selling process.

 

Before we get too far into the new year, let’s take a moment to review the 2019 market year as it compares to 2018.

 

In DeForest and Windsor, there were a total of 371 single-family home and condo sales for the year of 2019. That’s a 14% increase over the previous market year. The average home value increased by 7% from 2018 to 2019, and the average days on market was 53 days—a bit slower than the average of 45 days in 2018.


In Sun Prairie, there were 776 home sales, which was up by 2% over 2018. The average home value was up 2% over the previous year, ending at around $300,000. The average days on market in 2019 was 44 days, compared to 35 days in 2018.

 

"In Madison, the average home values jumped up by 5%."

 

 

In Waunakee, Westport, and Vienna, there were 305 home sales in September, a 2% drop year over year. The average home values in these areas increased by 2%, and the days on market increased from 36 days in 2018 to 45 days in 2019.

 

Finally, in Madison, there were 4,435 home sales, which is 4% fewer than the previous year. The average home values jumped up by 5% between those years. The average days on market stayed the same over both years at 35 days.

 

If you’d like more specific details about your market area, don’t hesitate to reach out to us. We’d love to help break down what’s happening in your market.

Posted in Market Update
Jan. 23, 2020

Busiest Real Estate Quarters


I broke down the sales numbers from 2019 by quarter to reveal when the best times to buy and sell are. Here are the results.

Selling a home? Click here to check out our step-by-step home selling process.

 

Which is the best quarter of the year to buy or sell a home? I broke down the total sales by quarter in various communities in the area to give you a sense of what the market’s like and when the most houses are selling. I always tell clients that February 1 to May 31 is the best window to sell your property because that’s when the most buyers are in the market. On the flip side, buyers will get the best deal if they’re able to buy outside of that window because there will be less pressure from other buyers. 

 

Here’s how 2019 broke down by quarter. However, keep in mind that this analysis was done on December 3, which means quarter four wasn’t finished yet. 

 

DeForest-Windsor:

Quarter 1—68 sales 

Quarter 2—120 sales

Quarter 3—94 sales

Quarter 4—54 sales

 

Waunakee:

Quarter 1—145 sales

Quarter 2—226 sales

Quarter 3—237 sales

Quarter 4—106 sales

 

"February 1 to May 31 is the best window to sell your property."

 

Sun Prairie:

 Quarter 1—55 sales

Quarter 2—101 sales

Quarter 3—80 sales

Quarter 4—47 sales

 

Madison:

Quarter 1—714 sales

Quarter 2—1392 sales

Quarter 3—1346 sales

Quarter 4—659 sales

 

As you can see, the third and fourth quarters of the year are always the busiest, so plan your home sale or purchase accordingly.

 

If you have any questions about real estate, please feel free to reach out to us by phone or email. We would love to speak with you

Posted in Market Update
Jan. 20, 2020

December 2019 Market Update


Today I’m sharing the latest market statistics from December 2019.

Selling a home? Click here to check out our step-by-step home selling process.

 

Today I’m sharing our market’s December 2019 statistics. These are all compared to December 2018’s numbers. 

 

DeForest/Windsor:

  • 27 sales, 40% increase
  • Average home value increased by 14%
  • Average days on market: 40 (seven days faster)

 

Sun Prairie:

  • 48 sales, 17% increase
  • Average home value increased by 7%
  • Average days on market: 57 (eight days longer)

 

"The spring market has already begun."

 

Waunakee:

  • 23 sales, 43% increase
  • Average home value increased by 25%
  • Average days on market: 55 (27 days longer)

 

Madison:

  • 314 sales, 19% increase
  • Average home value increased by 13%
  • Average days on market: 44 (four days longer)

 

In all of these areas, there were more sales than there were listings, which tells me that the spring market has already begun. Also, take note that home values increased in every market. 

 

If you’re considering selling this year or have any questions about the market, reach out to us by phone or email. We would love to help you.

Posted in Market Update
Jan. 16, 2020

Interview With Nick Toman Part 3


In part three of our financial interview with Nick Toman, we’re discussing owning real estate in your retirement years.

Selling a home? Click here to check out our step-by-step home selling process.

 

In part three of our interview with Nick Toman of Empowered Financial Management, we’re discussing owning real estate and how that aids the diversification of your portfolio.

 

Nick often receives questions about whether people should own real estate in their retirement years. If you like having properties in your portfolio or enjoyed owning property over the years, sometimes that can be a good anchor to a great income plan. For example, rental properties could be an excellent source of monthly income. This may give you some flexibility considering other retirement benefits, like social security or a pension. That cash flow may allow you to delay collecting some of those benefits, which could help out later in life.

 

"Rental properties could be an excellent source of monthly income."

 

The key in retirement, if you want to own real estate, is to be prepared; there is some work involved. However, some enjoy this, viewing it almost like having a hobby. If you want to own real estate, Nick would encourage you to do so. Not only is it an additional income, but you may enjoy it.

 

If you have further questions about anything we discussed, reach out by phone or email to me or Nick Toman at your convenience. We would love to help you.