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Brad Brethouwer | Blog

Tuesday, November 24, 2020   /   by Brad Brethouwer

How Has Our Local Market Changed Since Last Year?

The third quarter statistics for our local real estate market are in, so let’s take a look at the latest data.
In Dane County, the number of sales dropped 4% from last year. The average sales price, however, rose by 6% and now sits at $320,000.
In the DeForest/Windsor area, there were 77 total sales in the third quarter of 2018, with the average sales price at $297,000. This constitutes a 30% drop in sales and a 1% decrease in average sales price year over year.
In Sun Prairie, there were 236 sales in the third quarter of 2018 and the average sales price was $288,000. This means the number of sales saw no change since last year, but that average sales price for the area rose by 3.5%.
If you’d like to learn more about what’s happening in your specific area, visit www.bradbret.com.
And, as always, if you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

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Tuesday, November 24, 2020   /   by Brad Brethouwer

How (and Why) to Avoid Outside Influences When Buying or Selling

When the time comes to buy a home, don’t let distracting outside influences derail your deal. It seems that whenever a person sets out to achieve their real estate goals, friends and family come out of the woodwork claiming to be experts on how they should proceed.

While some of the people in your life may know a little bit about the real estate process, the only real estate advice you should allow to influence your deal is the kind that comes from your agent.
The average agent sells 20 to 30 homes a year, meaning they’ve got a lot of knowledge and experience. You can trust them to know what’s best for your deal.If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

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Tuesday, November 24, 2020   /   by Brad Brethouwer

An Important Message About Market Timing

Proper timing is a major component of any real estate sale. So when is the best time of year to list your home?
Without fail, the ideal window for sellers is between February 1 and May 31. This range can obviously start a few days sooner or end a few days later, but this general time frame is when sellers will find the greatest opportunity to succeed.
So if you’re thinking of selling, start planning now. This will ensure that you’ll be ready to list by the time February rolls around.
As for when you shouldn’t list, there are a couple of specific times during which our market underperforms compared to the rest of the year. July, for whatever reason, is not a good month for sellers. Selling during Thanksgiving or Christmas may also prove difficult.
“If you’re thinking of selling, start planning now.” 
Of course, the way you time your sale should also reflect what’s happening in the market at a given moment. You can find ...

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Tuesday, November 24, 2020   /   by Brad Brethouwer

Assessment vs. Appraisal: What’s the Difference?

Today we’ll be clearing up some misconceptions about what assessments and appraisals are.
An appraisal is ordered by a bank and dictates the value of a property. Done for financing purposes, it’s found by researching comparable property in the area; this is similar to how an agent finds the value of your home. An appraisal is required for a mortgage.
“You have to be careful with appraisals—more times than not, they’re inaccurate.” 
Appraisals, which are ordered by the bank, evaluate your property’s market value. What they do is find a ballpark value that is used to calculate your tax basis. Your home is assessed when you buy it, and any future reassessments are based on local area sales.
Somebody once told me appraisals aren’t worth the paper they’re written on, and I’ve seen this to be true. A client of mine had their home appraised at $400,000, but the market showed it was only worth around $32 ...

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Tuesday, November 24, 2020   /   by Brad Brethouwer

Looking Back at How Our Market Has Evolved Over the Last Year

Since we’re starting a new year, I want to talk about our area’s market reports from over the last few years.
Let’s start with Dane County. In 2018, we saw 7,965 sales. This figure is down by 1% from 2017, but our average sale price is up 5% to $316,000 during the same time period. Over the last five years, the average sale price is up 18% and the number of sales is up 13%.
In the DeForest area, we saw 351 sales in 2018, which is down 14% from the figure we saw in 2017. However, the average sale price increased by 2% to $306,000. Over the last five years, the number of sales has gone up by 20%, while the average sale price has increased by 21%.
“Total sales may have dropped, but home prices have continued to increase.” 
For Sun Prairie, we’ve had 860 home sales in each of the last two years. The average sale price has increased by 7% from 2017 and is now up to $287,000. In the last five years, the number of sales in Sun Prai ...

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