The Future Of The Gardyn

I don’t know how to say this or create a great lead in…so……

I will no longer be selling real estate in the Madison, Wisconsin area.

I have been offered and accepted a position being a Keller Williams Team Leader in Everett, Washington, which is just north of Seattle. KW Everett is a 106 agent real estate office and we have some aggressive goals to grow to 300 agents. My role as KW Team Leader is to inspire our agent partners, lead the company to growth and market dominance, serve our agent partners in the growth of their business and succeed with them by sharing our profits.

So the last couple of weeks I have been chatting with some real estate bloggers about what to do with The Gardyn. I got their input, now I would like yours.

What would you like to see happen to the Gardyn? Leave a comment or email me darin@edynrealestate.com

5410 Tonyawatha Trl, Monona Wisconsin w/ Lake Monona View

This is the view from your new home. No kidding. That really would be your view!

Now, I normally don’t promote listings in my blog posts on The Gardyn, but we have discovered a new marketing platform that we are really excited about and thought we would test it out on ourselves first.

We start by creating a website for the home that we marketing

For example  www.5410Tonyawatha.com

Now through this website you have all sorts of cool tools and gadgets for marketing.

We upload a marketing flyer to craigslist http://madison.craigslist.org/rfs/597980854.html , now this isn’t just any craigslist posting, it has clickable links and takes the prospective buyer right back to the listing website we created.

The listing also gets sent to trulia, google base, oodle, propsmart, homescape, vast and local.

The next step in the marketing plan is to promote the home and domain address www.5410Tonyawatha.com through the use of GoogleAdwords.

Now you’ll notice if you visit the website that we created for 5410 Tonyawatha that it is not just about the home. A home buyer can find info about the area schools and all local amenties.

That’s not all. The website is set up to track data such as site activity, page activity, key word searches, website referrers and all raw stat info. And we can send a daily email to our seller’s, if they so wish with all this info. Now, as a seller you don’t have to wait for info just on how many showings or feedback after showings, you can have instant feedback about the marketing of your home.

There are so many other cool things that we can do with the website and tools, and we will be happy to show you at your listing presentation. Contact us at edynrealestate@gmail.com or call us 608-333-5915

Madison, Wisconsin Foreclosures

TCT reports,

Dane County had 127 foreclosure filings in January, 45.9 percent more than the 87 in December, 122.8 percent more than the 57 last January, and 746.6 percent more than the 15 in January 2006.

Wisconsin had 2,102 foreclosure filings in January, 20.5 percent more than the 1,744 in December, 58.4 percent more than the 1,327 last January, and 428.1 percent more than the 398 in January 2006.

Homeowners ARM’s are increasing, heat costs are rising, gas is eating into people’s budgets. I don’t think we are going to see Madison foreclosures going away anytime soon.

Keep in mind that builders, developers and investors can also be foreclosed on. Their inventory adds to these numbers. Like the Metro Place downtown Madison foreclosure.

If you are facing foreclosure TALK with your lender. They are not your enemy. Believe it or not, they don’t want to foreclose on your home. The process costs them money, money they already invested in you and your home. Start the conversation to see what you can do to keep your home.

A Letter To All Realtors

Dear Realtors,

Some where along the way we stopped selling homes and started selling houses. There is a big difference. I think we need to go back to selling homes.

Sincerly,

Darin Persinger

The Madison Real Estate Market Is Not Bad, But Not Good, Could Be Worse, But Is Now Getting Better

What?

Yeah, I know. I read this article from the Cap Times, Jeff Richgels and was left more confused. Here is part of the article,

Such is life in a housing market gone stagnant: After a long boom that peaked in 2005, sales of homes and condominiums in Dane County fell 10.4 percent in 2006 and another 6.3 percent last year to their lowest level since 2002, while after years of strong appreciation, sales prices edged up at a rate below inflation.

Wendorf doesn’t feel the market “tanked” until last summer and believes that if they had initially listed the home at $294,900 it would have sold.

They took the home off the market last month to have it painted and the carpets professionally cleaned and plan to put it back on the market this month as a FSBO (for sale by owner) at $273,000.

The comments at the article page are a good read also. I am starting to believe that ultimately the consumers are getting it. There are still a few buyers that think they can low ball everything, but most buyers understand a good deal when they see it. And most sellers understand that they can’t get whatever price they feel they NEED or DESERVE out of the home, but there are still some sellers that saw their neighbors make huge profits and want that easy money also.

If you have to sell and want help determining market conditions contact me Darin@EdynRealEstate.com

Waunakee Single Family Real Estate Market: Home Prices and Data from 2004-2007

I got an email from some one requesting the data on the Waunakee Real Estate market.

Actually they asked a simple question,

Has the value of homes in Waunakee, WI gone down since 2005?

The simple answer to that is NO. Home prices in Waunakee have not gone down. Home prices have actually gone up. By almost 10% since 2005. Go figure?  Here’s the data:

2007 actually looks like a nice rebound for the Waunakee single family real estate market.  Days on Market dropped, the number of homes sold increased and home prices continue to increase.

I will bring back something I wrote in May of ‘06,

Real estate is local, like the weather. It doesn’t matter what the weather is like in Austin, Texas if you are planning a picnic in Madison, Wisconsin.

If you are thinking about buying or selling, good for you. Don’t listen to the local media. Especially don’t listen to the national media. Don’t listen to me. Contact a local Realtor and ask great, tough questions. If you don’t feel like you are getting an honest, candid response, contact another Realtor. Do some research, ask for data, trends. Read blogs. Then decide based on the information you have gathered what is best for you.

If you have questions about your real estate market you can contact me at Darin@EdynRealEstate.com

Related Posts:

In A Buyers Market You Still Can’t Wait To Buy

Things that a Madison Home Seller Can Do

Is your home for sale helping other homes get sold?

And I’m Back!

Hey Madison!

Wow! I’m so amazed! I have not written here in almost two months and yet The Gardyn has been averaging still almost 100 visits a day.

My family and I have had a difficult past couple of months. Thank you to all those that have sent their support. In early December I lost my 17 year old nephew in a car accident. Just recently my uncle passed away. Real estate has not been my focus but, I can tell that there is a need out there for Madison Real Estate info and it feels good that so many people are still turning here for their info. I am humbled and thankful that The Gardyn has found a place in the Madison real estate seller’s and buyer’s mind.

I still have a lot of emotional healing to do, as well as the real estate market has a lot of healing to do, but it’s time to get back to work.

I would like to take this oppurtunity to share with you a bit about my nephew. I had mentioned him in the past in The Gardyn, in Taking The Day Off

I’m going to be taking the day off today to hang out at the lake with my girfriend, her brother and my nephew and do some wakeboarding.

My nephew is going to be a senior this year in high school and will soon be leaving for college. I might not be able to spend as much time with him if he leaves to go to a college far away. He thinks he might want to go into real estate though, so perhaps during his summers he could come back and work for EDYN Real Estate and get a taste of Real Estate.

I’m glad I took that day off.

This was an article in the Journal Sentinel, the day after Chris was killed. They got him spot on. You had to know him.

Chris Persinger was one of a kind, tennis coach Audra Rothwell said.

“He was one of those people who managed to bring humor to any situation,” she said.

He was a determined and focused athlete, but even when he lost he would walk off the court and find the good in the situation, she said. He was looking at being in one of the top varsity spots in doubles this spring.

“He’s leaving a huge void on our team,” Rothwell said. The team is already talking about doing something in the upcoming season to honor Persinger and Hazenfield.

Persinger was planning to study business at Arizona State University.

Even though this was her first year at Mukwonago High School, guidance counselor Paige Patenaude said she got to know Persinger well because he was so outgoing and because he would come to her office about three times a week to talk and eat the chocolates she kept at her desk.

“He would come down to talk about what he was doing that weekend,” she said. “We would even have to tell him to stop coming down here so often.”

Persinger “could give lessons on how to enjoy life,” English teacher Stacy O’Brien said.

Business teacher Emily Iverson said Persinger tried to charm teachers and fellow students alike. He taught himself how to play the guitar and delighted in serenading girlfriends.

Iverson called him “probably the most charismatic student I’ve ever had.”

- Jacqueline Seibel and Amy Hetzner

Here is a video that my niece made in memory of her brother.

If you would like to donate to the Christpher Lloyd Persinger Memorial Fund you can contact any of these banks. Johnson Bank, M & I, Continental Savings, Citizens, Associated, Pyramax and Waukesha State Bank. Donations can be made at any branch, with a reference to the Mukwonago Branch of that bank.

Building A Greener House

If you have not wasted enough time playing Mansion Impossible, I got a new one for you.

My Sustainable House is a game, but super educational about the building a greener home process. Have a little fun, learn a little bit and if you are up to it, come back and post your score. I got a 742.

h/t- www.treehugger.com

Good Time To Buy A Home In Madison

Want to know if you should buy a home or condo in this Madison Real Estate market 

We are inspired by NBC going green last week, so The Gardyn will go green this week. We might recycle some posts and all our font will be green.

Recycled Post from Is now a good time to buy real estate?

That depends. That question would be equivalent to walking into a doctor’s office and asking “Is now a good time to have a surgery?” The doctor  would want to know if you are sick, injured, or ill. She would want to do tests, exams, and scans. She would not do a surgery if you are healthy. Your health and body are unique to you. So is your position for buying real estate. Like the doctor, I would have lots of questions. I would do a needs analysis with you. I would refer you to talk with a mortgage lender. I would find out about your situation. The truth is, now is a great time to buy for some people and an awful time to buy for some people.

Suze Orman, famous financial expert author and talk show host, gives a great exercise in her book, Suze Orman – For the Young, Fabulous & Broke. She calls it “Play House Before You Buy A House”.

Given all the extra costs of owning, you need to be plenty sure you can handle the bills before you take the housing plunge. Put yourself through my six month “play house” test.

• Figure out the cost of homes. Use a mortgage calculator to estimate your basic mortgage costs.
• Add 40% to that sum. That is your home ownership cost.
• Subtract your current monthly rent from your home ownership cost.
• Set up a new bank account and deposit that difference in the account on the first day of every month for six months.

If you pay $1000 in rent but your home ownership cost (including all the extras, taxes, maintenance, etc.) is $1,271, you need to deposit $271 a month into your test account. If you miss one payment, or if you are consistently late in making the payments, you are not ready to buy a home. If you can handle the extra payments, then you’ve got the thumbs-up to start looking for a home to buy. By the way, in playing house, you’ve also beefed up your down-payment fund. In the previous example, you would have saved up $1,626. in six months.

By the way Madison real estate buyers,

• interest rates are still low-that means low montly payments
• housing inventory is up-that means more selection and choices

Related Posts:

Real Estate searches for pet friendly propety

Bassett Area Home Buyer Progrom

In a Buyer’s Real Estate Market you still can’t wait to buy

Real Estate Buyer’s Agent: Should you have one?

Mortgage Interest Rates

One Laptop Per Child: Give 1 Get 1

We are inspired by NBC going green last week, so The Gardyn will go green this week. We might recycle some posts and all our font will be green.

One Laptop Per Child

From Laptopgiving.org:

The mission of One Laptop Per Child (OLPC) is to empower the children of developing countries to learn by providing one connected laptop to every school-age child. In order to accomplish our goal, we need people who believe in what we’re doing and want to help make education for the world’s children a priority, not a privilege. Between November 12 and November 26, OLPC is offering a Give One Get One program in the United States and Canada. During this time, you can donate the revolutionary XO laptop to a child in a developing nation, and also receive one for the child in your life in recognition of your contribution.

This seems like a great cause with some great benefits for all involved. Give a laptop and get one for your child, or give it to a local school, or an after school program.

Visit the site, LaptopGiving.org for their mission, details on the computer, country’s that are involved and how to donate.

FSBO Madison Tips on Marketing and Exposure

We are inspired by NBC going green last week, so The Gardyn will go green this week. We might recycle some posts and all our font will be green.

From FSBO Madison Needs One More Photo, Atleast

NRT Inc., the largest residential real estate brokerage company in the nation conducted a study which found that the average consumer wants to see a minimum of 6 photos of a house before they will contact the listing agent about it.

FSBO’s using the FSBOMadison site are only allowed to upload 5 photo’s.Your FSBO listing might be one photo short of having that buyer pick up the phone. As a FSBO how do you decide what photo’s to upload and what photo’s to leave off? I see some of my fellow Realtor’s not do much better though. Even though Madison area Realtor’s are allowed to put 9 photo’s on a listing for sale, I see properties with less.

*FSBO Tip-Create a separate photo webpage online with a link in your FSBOMadison listing directing would be home buyers to see more of your home. Interior photo’s-good. Exterior-photo’s-cool. Night time photo’s-awesome. Seasonal photo’s-outrageous. Neighborhood photo’s-now you just have too much time on your hands.

Related Posts:

Four Questions a FSBO should ask a buyer

Hang in there FSBO

Feedback from buyers on home showing

Your home could be helping other homes sell instead (quiz)

Real Estate Open Houses In Madison

Today being Sunday, Realtor’s in Madison will be holding Open Houses.

Every where in the Dane County Real Estate world, you will see open house signs. Edyn Real Estate will not be doing an open house though. We pick our open houses carefully and it’s a place that our Seller’s can save some commission, since we do not do them. We do not spend our Home Seller’s money, our commission is your equity, in ways that are not effective in selling their specific home.

Let me repeat that. Their. Specific. Home.The Home Seller is paying us a commission to sell their home not pick up more buyers. But this is what real estate agents are taught to do. Use the Home Seller’s product to pick up more business. Dirk Zeller, a top real estate trainer writes,

The main purpose of an open house is to attract solid buyer and seller prospects, so when setting your objectives for each open house, you need to shift your focus away from selling the featured home and toward acquiring prospects.

I also explained why I thought Open Houses are a waste of time in this blog post,

Open Houses were great in the old days of the 1990’s for selling real estate, but buyers now have multiple photo’s on the internet, virtual tours, and all the neighborhood info they desire right at their finger tips online. If the buyer is truly interested after doing their homework, they will set up a private showing.

You can schedule a private showing on every listing page on our Map Tracks Home Search

Related Posts:

Open Houses

In a buyer’s market, you still can’t wait to buy

Is now a good time to buy a home or condo in Madison?

What are the West side of Madison home price’s doing?

What are the East side of Madison home price’s doing?

Madison Blogger Wonders If She Should Have Bought Her Kids A Condo

Ann Althouse, law professor wonders, “Should you buy your college kid a condo?”

A lot of people do these days, and it might make financial sense. Obviously, there are problems with the housing market that affect the decision these days, but generally, I wish I’d thought of doing this when my sons were in college. A big problem is that older folks who like condos don’t like student neighbors. The lower priced the condos are, the more likely they’ll be chosen for students, and the more likely they’ll have badly soundproofed walls and floors. But it would be nice if there were some condo building designed for students, that the parents would buy and then sell to each other every 4 years.

Take a look at the video of real estate guru Barbara Corcoran and what we wrote back on August 17th,

If you are driving around the UW-Madison Campus area right now, you will see that students are moving in. Moving into their dorms and moving into their housing. The UW Madison campus is buzzing again.

Real Estate guru, Barbara Corcoran gives advice on how to,

“Make a profit and get a surprise on graduation day.”

FSBO Madison Needs One More Photo, atleast

Local For Sale By Owner Real Estate site, FSBOMadison.com does a high volume of business.

From their own website they promote,

“777 homes listed in 1999, 1100 in 2000… and on up, to over 2000 in each of the past 2 years.”

That’s pretty impressive!!! It was a hot seller’s market in Madison and a great time to make a quick sale. Right now, today, in the present, the market is correcting itself. Home Sellers in Madison, using a Realtor or going FSBO, need to do more to sell a home. A lot more.

Exposure is key. What you do with that exposure is key also. Being seen is not the same as being noticed. If you are going the FSBO route, you have to do even more to get your property exposed and noticed. One of the best ways of getting noticed is with your photo’s. I call it the Ebay Syndrome. People want to see pictures when searching for real estate online. No pictures. No interest.

“A Picture Is Worth A Thousand Words”

NRT Inc., the largest residential real estate brokerage company in the nation conducted a study which found that the average consumer wants to see a minimum of 6 photos of a house before they will contact the listing agent about it.

FSBO’s using the FSBOMadison site are only allowed to upload 5 photo’s.Your FSBO listing might be one photo short of having that buyer pick up the phone. As a FSBO how do you decide what photo’s to upload and what photo’s to leave off? I see some of my fellow Realtor’s not do much better though. Even though Madison area Realtor’s are allowed to put 9 photo’s on a listing for sale, I see properties with less.

Just doing a search tonight on the Madison MLS, I saw properties with 3 photo’s, 1 photo and some even with ZERO.

At Edyn Real Estate, we have made the commitment now, that every listing will have 9 photo’s on the MLS. On our Keller Williams listing page we will do 20. On our Gardyn listing page we will do a minimum of 20, if not more.

We realize that a home buyer will still want a showing, so they can feel and sense the property, but we believe that more photo’s will help the home buyer notice it enough to schedule a showing.

*FSBO Tip-Create a separate photo webpage online with a link in your FSBOMadison listing directing would be home buyers to see more of your home. Interior photo’s-good. Exterior-photo’s-cool. Night time photo’s-awesome. Seasonal photo’s-outrageous. Neighborhood photo’s-now you just have too much time on your hands.

By the way-this blog post, purposely does not have any photo’s.

Related Posts:

So Hot Out, Yet I See Snow

Is the Madison real estate glass of water, half full or half empty?

Things that a home seller can do in the Madison real estate market

Is now a good time to buy real estate in Madison?

Hang In There FSBO

Careful Pricing Your FSBO

Options For the FSBO in Madison

Questions A FSBO Should Ask A Buyer

Why Can’t A Home Buyer Search For Pet Friendly Properties?

When searching for a property, why are home buyer’s not given an option for pet friendly property search criteria?

I asked Pearl, my French Bulldog that question, here was her response-

I know it doesn’t matter so much when a buyer is searching for a single family home. A buyer searching for a single family home can do a search for homes that have a fence, large back yard, etc. etc.

But what about a home buyer that is searching for a condo?

I looked on Realtor.com – Trulia.com – Zillow.com – GoogleBase 

These are some of the top national real estate home searches. If you are going to search locally, you only need the Edyn Real Estate Map Tracks.

I looked on all those sites and could not find a search criteria for a perspective condo buyer that wants to search for condos that allow pets. With 64.2 million American households having pets, this kind of search criteria seems like a no-brainer to me.

Pets are such a big apart of many households. They are our children, our friends, our companions. When my buddy, Nugget passed away a few months ago, I was devastated. It took me a some time to recover and I still miss him everyday. We didn’t feel we could ever replace Nugget, but we knew that there was something missing in our hearts and in our home.

Even Cooper, the Chihuahua seen with Pearl in this picture, was sad about the passing of Nugget. Pearl and Cooper have become best friends now, however Cooper is still not wired right, no matter how many Dog Whisperer tricks we try on him.  Our pets mean a lot to us and we have talked about maybe buying a condo in the future. Of course the condo would have to be pet friendly.

The property would have to allow pets first, then location, then bedrooms, then amenities. It seems to me that other pet-lovers would have this order of priorty when searching for a property also.

If you are a pet owner, how do you prioritize your search  requirements? Is it frustrating that you can’t search online for a pet friendly condo?

By the way, as Realtors with access to the MLS, we do have the ability to search for pet friendly condo. If you would like us to do a search for you, contact us here or email us edynrealestate@gmail.com

Do your own real estate home or condo search here

Related Posts:

Atwood Ave. Dog Store in Madison

Is now a good time to buy real estate?

The growth of Madison through time

In a buyer’s market you still can’t afford to wait

Buyer’s Agent: Should you have one for your real estate transaction?

West Side of Madison Home Prices. Going Up or Down?

Taking a look at the Madison West single family and condo home prices.

Check this out. Besides a dip right away for Madison West condo prices, which can probably be easily explained, prices have had a stable, consistent rise. It might not be much, but there it is. Moving up. Moving forward.

Now check out Madison West single family home prices. WOW! If I didn’t turn on a TV once in awhile, or read a newspaper I would think the real estate market was pretty healthy. The average single family home sale price has been above $300,000 on Madison West side since May.

I have been talking to many  homeowners lately that have been trying to sell their home, either, FSBO or with a Realtor, and have not been able to. The homeowners response to me wondering if they want to get it back on the market with Edyn Real Estate is, “Not at this time. We are going to wait for the market to get better.”

Folks…you could be waiting, for the market to worse.

Do you want the numbers for your local neighborhood? Market trends, average days on market, averages sales price? Email us edynrealestate@gmail.com

Do you want to know if your home or condo value is going up or down? Find out here.

Related Posts:

East Side Of Madison Home Prices. Going up or down?

Madison East vs. Madison West Real Estate Days On Market

Days On Market for Dane County Real Estate

Things that a home seller can do in the Madison real estate market

How many showings on a home before an offer?

The truth about the Dane County Real Estate Market

Is now a good time to buy real estate?

Your Home Helping Other Homes Sell

Bassett Area Home Buyer Program Announced By City Of Madison

In a press release from the Madison Mayor’s office,

Oct. 30th 2007/MADISON – Mayor Dave Cieslewicz and Ald. Mike Verveer announced today a new acquisition and rehabilitation loan program to help homebuyers interested in living downtown. The new program called the Bassett Small Cap TIF Loan Program can assist potential borrowers in the Bassett area.

Highlights of the program are:

· 10-year forgivable loans up to $60,000.
· Loans at 0% interest.
· Property must be a current rental property that will be converted to owner-occupied.
· Property must contain no more than 3 units upon completion of project.
· Funds can be used for acquisition and/or rehabilitation.
· Borrower must invest a minimum down payment of 3% of purchase price.

“This pilot program will help convert downtown housing back to owner occupancy and it will help protect downtown’s historic building stock,” said Mayor Dave Cieslewicz. “If it works as predicted we will look to expand it in the future.”

Ald. Verveer concurred: “Ever since the adoption of the Bassett Master Plan in 1997, there has been a desire to provide funding for people who would like to buy and fix up an existing rental property to live in.”

The program was created through Tax Increment District (TID) 28 through funds generated by new development by thereby creating an opportunity to fund the acquisition and rehabilitation of rental properties to owner occupancy. The program complements other initiatives to enhance the quality of life in one of Madison’s strong downtown neighborhoods.

The funds are available on a first-come, first-serve basis through December 31, 2008. For more information go to our website http://www.ci.madison.wi.us/news/view.cfm?news_id=622or call Terri Goldbin 266-4223 or Percy Brown 266-6558.

Also read Dane County Real Estate Buyer Programs for more info on programs in Madison and Dane County area.

To search for your new home use the Edyn Real Estate Map Tracks Home Search.

The Growth Of Madison Through Time

You need to check out this cool site. It is called Trulia Hindsight. Trulia is a real estate search site that puts together cool gadgets and tools that I sometimes spend my spare time playing with. Am I nerd? I think geek. But if you have someone helping you buy or sell a house, don’t you want them to be a real estate geek?

This site shows the growth of Madison, starting in 1855, using Microsoft Virtual Earth.

By the way, a side note on the above picture. I was taking my new pup, Pearl for a walk when I decided to snap this photo of downtown Madison. Pearl, got curious and ventured off the pier. French Bulldogs do not swim well, (they sink superbly though) but I heard her splash just as I snapped the photo. I got a cool photo of the isthmus from the Lake Monona side and one little Frenchie with a wet butt.

Related Posts:

Transparency of the industry, not my life

Atwood Ave. Dog Store in Madison, Wisconsin.

View of downtown Madison (the city on an isthmus)

Dane County adding more park space

East Side Of Madison Home Prices. Going Up or Down?

Taking a look at the Madison East single family and condo home prices.

 I love graphs. Graphs make things simple. You can quickly look at a graph and it tells you something. Look at the graph for Madison east single family and condo prices. The graph quickly tells you, that Madison east single family home prices are increasing and condo prices are decreasing.

Here is why I really love graphs though. If you only look at a graph to see what it is telling but don’t consider what it’s not telling you, you are missing out. Anyone see something this graph isn’t telling you?

Do you want the numbers for your local neighborhood? Market trends, average days on market, averages sales price? Email us edynrealestate@gmail.com

Do you want to know if your home or condo value is going up or down? Find out here.

Related Posts:

Madison East vs. Madison West Real Estate Days On Market

Days On Market for Dane County Real Estate

Things that a home seller can do in the Madison real estate market

How many showings on a home before an offer?

The truth about the Dane County Real Estate Market

Is now a good time to buy real estate?

Your Home Helping Other Homes Sell

My Bologna Has A First Name…

Things that you will see while driving around Madison, Wisconsin.

Take a virtual tour of the Oscar Mayer Weinermobile at their site.

Here is a video of the Oscar Mayer Weiner Song via Oprah, gospel style.

Madison East vs. Madison West Real Estate

Comparing housing days on market for Madison East vs. Madison West.

We looked at single family and condos in both the Madison East and Madison West market areas.

The Madison East and Madison West single family markets are almost even with each other for days on market. What makes the Madison East real estate market a bit healthier though is the absorption rate.

The condo’s days on market is all over the place, but both Madison East and Madison West condo sales are going at a slower pace than single family.

We have looked at Dane County days on market and have seen the curve and ups and downs from last year to today, but check out the Madison graph again. Notice the days on market for single family of both Madison East and Madison West have had a slight decline in this “awful” real estate market. That’s weird, huh?????

I wonder why that is? You got any ideas?

Do you want the numbers for your local area? Market trends, average days on market, averages sales price? Email us edynrealestate@gmail.com

Related Posts:

Days On Market Thru August

Things that a home seller can do in the Madison real estate market

How many showings on a home before an offer?

The truth about the Dane County Real Estate Market

Is now a good time to buy real estate?

Your Home Helping Other Homes Sell

Home by Marc Broussard

The last few weeks, I have been putting up music videos with “Home” as the theme.

This week is “Home” by Marc Broussard. ENJOY!!!

Related Video Posts:

Home by Michael Buble

Coming Home by The 88’s

You can’t buy happiness

Make it a great day

Rent or Own

Real Estate TV Ads: Boring, Boring, Boring

Why are Real Estate TV ads so bad?

Is The Madison Real Estate Market Glass Of Water Half Empty or Half Full?

Madison real estate market.
Good? Bad?

How do you look at it? Half full? Half empty?

Maybe the press is right and the real estate market glass of water is half empty. There is high inventory. Days on market is 73. Home prices are not increasing, as much as they once did.  You have to get creative and aggressive to sell a home.

Related Posts:

Dane County Real Estate Trends

Things that a home seller can do in the Madison real estate market

Days on Market for Dane County Real Estate

Or maybe, some Realtors are right. Perhaps the Madison real estate market glass of water is half full. Interest rates are still good. Inventory means more choices for buyers. Home prices not increasing as quickly (but still are increasing) allows buyers to get more home than if home prices would have increased the same amount as the past few years.

Related Posts:

Is now a good time to buy a home?

In a buyer’s market you still can’t wait to buy

The truth about the Dane County real estate market

So how do I look at the Madison real estate market glass of water? Am I an optimist? Is it half full? Do I look at it as a pessimist? Is it half empty?

To me the Madison real estate market has water in the glass. That’s all that matters. There is water. How much? Who cares? It’s there, and there is enough to quench your thirst if you are looking to take a drink. Half full or half empty….At least there is water.

Dane County Real Estate Market Trends (Including Madison and surrounding area)

Info on Dane County Real Estate Market and Housing trends for the past 8 years.

This is looking at the first 3 quarters of the year for the last 8 years of the Dane County real estate market.

Keep this in mind when you are looking at the numbers. I hear from home sellers and even Realtor’s that the local Dane County real estate market “sucks”. I read it online, I see it in the newspapers. “The Madison real estate market sucks.” So keeping that in mind, lets take a look at what has been going on for the last 8 years.

 Eliminate the GREEN which is the total listings that had been on the market during the first three quarters of the year. Go back and look at the chart and what do you see?

Do the SOLDS seem that far off from each other? For either single family homes or condos in the Dane County real estate market?

2006 & 2007 are higher number years of solds in comparison to 2000 & 2001. You wouldn’t believe based up on what you see or read though, would you? Keep this in mind also. 2000 was a record breaking year in real estate sales. So was 2001. So 2006 & 2007, the times of awful real estate sales, the bursted real estate bubble, the doom and gloom real estate market, these years are actually better then what we had at the beginning of the decade.

Does it feel that way though?

Probably not. The reason why? Well, there are lots of reasons but lets just take one today. Insert GREEN back into the picture. There is just so much more inventory out there.

• More inventory=more choices for home buyers.
• More choices for home buyers=slower decision times.
• Slower decision times=It feels like “the real estate market sucks”.

But really….how bad is it? Numbers don’t lie. You can spin them. You can flip them. But numbers don’t lie.

Do you want the numbers for your local area? Market trends, average days on market, averages sales price? Email us edynrealestate@gmail.com

Related Posts:

Days On Market For Dane County Real Estate (updated through September)

Is now a good time to buy real estate?

Things that a home seller can do in the Madison real estate market

How many showings on a home before an offer?

The truth about the Dane County Real Estate Market

“Thank You” to the lady in Copps Food last night in Monona

After meeting with a FSBO another for a listing appointment and then meeting with a FSBO to chat about the real estate market and give them insights and tips on getting their home sold, I had to go grocery shopping for a dinner party tonight.

I headed to Copps Food in Monona. By the way, if you go to Copps Food in Monona often, make sure you get a map of the new layout of the store from an employee. They have been doing some reorganizing and nothing is where it use to be.

As I headed to the check out, I realized I had left my Copps card at home, so I tried to call my girlfriend to get her card number. The lady in line behind me overheard my conversation and offered me the use of her card.

These flowers from The Gardyn are for you. Thank you so much for the use of your card and helping me save some money on my dinner party. It is greatly appreciated.

 Now my only question is, why do I need to have a card to save money? Why not just have the discounted price always?

View Of Downtown Madison (The City On An Isthmus)

The downtown Madison area is located between two lakes.

Lake Monona and Lake Mendota.

This is a photo I took today from the Lake Monona side. Over looking Lake Monona, you can see the downtown Madison area, including the Monona Terrace and the Wisconsin State Capital building.

The Monona Terrace is the building front and center in the picture, looking like it is floating right on the water. The Monona Terrace is the city community and convention center and was designed by famed architect, Frank Lloyd Wright. From the Monona Terrace webpage:

On July 18, 1997, Monona Terrace Community and Convention Center opened its doors after nearly 60 years of debate. It was first designed by Wisconsin native and internationally renowned architect Frank Lloyd Wright in 1938 as a cultural, governmental and recreational building. Wright reworked the design several times between 1938 and 1958 before signing off on the final plans seven weeks before his death in 1959.

The State Capital building is peaking out from behind a large brown building. Your can see the top of the dome. The State Capital building is the tallest building in the picture. The building reaches a height of 284 feet. The reason why it so clearly dominates the downtown Madison skyline is because of a little building ordinance called the “Capitol View Preservation Ordinance”. This ordinance states,

…that buildings within a mile of the State Capitol should not exceed the height of the base of the columns beneath the dome: 187.2 feet above Lake Monona.

Days On Market For Dane County Real Estate

Looking at Dane County Real Estate Days On Market from June  ‘06 – September ‘07

Since June, Days on Market has been creeping back up for single family homes in Dane County. Dane County condo sales days on market is all over the place and is really throwing a wrench in to real estate sales in the local area. The Dane County absorption rate, the last I looked at it, was 21.4 months.

You can see the trending on the Dane County days on market start to happen, looking at the summer months of 2006 and comparing to 2007 summer months. The highest days on market for single family homes is still less than lowest days on market for condos.

Remember there are always two markets going on, even in a buyer’s market:

• The market for good properties

The good properties are priced right, offer great terms, in excellent condition and staged well. These good properties always have lots of activity and these good properties sell.  The home looker can’t wait on these because a home buyer will buy.

• The market for not so good properties

These properties are not priced well, do not offer great terms, not in great condition and not staged well.

Related Posts:

Days On Market Thru August

Things that a home seller can do in the Madison real estate market

How many showings on a home before an offer?

The truth about the Dane County Real Estate Market

Is now a good time to buy real estate?

Your Home Helping Other Homes Sell

Days On Market: June

Things That A Home Seller Can Do In The Madison Real Estate Market

Home Sellers, the real estate market got you down? Does this shift to a buyer’s market make your home selling process frustrating and confusing?

18 months ago, a home for sale in Madison was flying off the market and selling for more than the asking price. Now, it kinda feels like pulling teeth just to get buyers into your home and getting them to write an offer-”fahget ’bout it!”

So what can you do to stand out to a home buyer in this type of  real estate market?

In our blog, we added a sixth thing to our 5 things a seller can do to look better for a buyer,

1. List Price. If your list price is off, the house is not even on the buyers radar screen. You cannot afford to be 10% off or even 5% off. You have to be as dead on and as competitive as possible from the get-go. Buyers will not waste their time even looking at overpriced listings right now. There are enough listings out there that a buyer can afford to overlook some of them if the price is not right. Get the price right. The number of showings and activity on the listing will tell you if your list price is right. No showings. No activity. Adjust the price.

2. “AS IS”. Marketing real estate listings as “as is” has got to go. No more marketing property “AS IS”.  It’s a death sentence. These two words turn a buyer off big time. When a buyer sees those two words in a marketing description or on an info sheet, they think one word. “NEXT”.  A buyer right now does not want to deal a defective property or a home seller that isn’t willing to negotiate. Remember that a $500 repair looks like $5000 in the buyers eyes. Don’t let it occur.

3. PRE-LIST INSPECTION. This kind of goes along with #2. As a home seller you should do a home inspection before you list the property. This does a few things. Allows the you, the seller,  to be proactive on any defects that come out of the inspection. Gives the you and your Realtor confidence when marketing the property and the buyer confidence when writing an offer. Don’t let there be a tense moment occur after an inspection is done and a buyer starts having second thoughts, demanding huge repairs or asking for money back on repairs. You and and your Realtor need to be proactive.

4. NO SMOKING. Buyers hate second hand smoke and the stale smoke order that lingers in a home, even those buyers who smoke themselves. While a home is being marketed the smoking goes outside and cigarette butts don’t get left behind. This goes equally for pet odors. Make sure you shampoo carpets and repaint where need be.

5. STAGING. The property has to be ready for “OPENING NIGHT” It has to look its best, it has to show its strengths, minimize its weaknesses, and look like a house for the buyer not thehome of a homeseller. It has to be depersonalized, be open, flow from room to room and yet be defined.  The homebuyer should not be distracted by anything that is not the house. A blog that I like to read about staging is Real Estaging.

Our sixth thing a seller can do to look better to a buyer is to have a pre-appraisal done. Warning Warning Warning The appraisal price has nothing to do with what your asking price or selling price should be. You and your Realtor will determine your asking price and you and the home buyer will determine the selling price.

So what good is a pre-appraisal?

You can use the appraisal price in your marketing. (Ex. Priced $15,000 below appraisal) Using assessment is good, but appraisal is something you can take to the bank. Literally.

Go ahead and leave a copy of that appraisal out on the kitchen table, so that when buyer walks through they can see it and hold it. While you are at it, leave a copy of your pre-inspection out on the table. Let that home buyer know that when they buy your home, they are getting a great value, a sound, safe investment, as well as a sound, safe home.

Related Posts:

Your home for sale helping other homes sell

The truth about the Dane County real estate market

Buyer’s Market, Seller’s Market or Balanced Market

Feedback from Home Showings

How many home showings before and offer?

Tip for FSBO’s

Your Home Helping Other Homes Sell

Last week we did a quiz,

Your Home For Sale Could Be Helping Other Homes Sell Instead

We then gave you the results.

How could your home actually be helping other homes sell? Glad you asked.

In order to understand this possibility, you are going to have to forget that your home is…well, your home. It is a product. A product that is on a shelf. A product that is on a shelf with many other similiar products.

Imagine a buyer calling a Realtor to see a property or two. The Realtor shows this buyer a few properties, one being yours. All three of the homes are very similar. Your home is priced at $250,000. The other homes are priced at $238,000 and $241,000. The Realtor shows your home first. The buyer really likes your home. Congratulations!!!

The Realtor says,

“Mr. and Mrs Buyer-If you like this home for $250,000 wait until you see the home we see next for $238,000.”

Ouch!!! The home buyer is no longer that excited about your home. The home buyer is now excited that the home he liked (yours) is available for $12,000 less. What a deal for the home buyer!!! Your home just helped another home sell!!!

The same thing can happen on the other end. Your home could be priced in a price range where you are playing in a different league. The Realtor is showing homes for sale in the $250,000-$260,000 price range and your home shows up. The problem-your home has 3 bedrooms and a 2 car garage. The other homes that are your competition (the other products on the shelf) are 4 bedrooms and have a 3 car garage. Your home makes it look like if they buy one of the other homes they are getting a better value.

So are you helping other homes get sold instead of yours? Are you making it easy for a Realtor to sell another home because your’s is the over priced product on the shelf?

BrokersFirstRealty.com says it pretty simply in their blog,

It’s the list price, Mr. Seller. The market rejects your price.

No matter how much marketing he does, this home will not bring his asking price. He could buy advertising on billboards around town… it will not matter.

It won’t matter which agent or firm he selects… it won’t matter how much staging he does… it won’t matter if he gives away a trip to Disneyland or plasma TV’s in every room.

If he would have listened to my feedback so many months ago…

Home By Michael Buble

Last week I mentioned that I liked The 88’s song, Coming Home. Their song plays in a Target commercial. Lets keep the trend going. Here is “Home” by Michael Buble.

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Real Estate FAQ’s: Why won’t my real estate agent do what I want?

Q. Edyn, I’m growing frustrated with my real estate agent. They will not listen to what I want them to do. I’m in sales also and I operate by “The customer is always right.” Why won’t my real estate agent do what I want?

-frustated by real estate agent

 

A. Dear frustrated by real estate agent,

 

First, you could just have a bad real estate agent. Every industry has good and bad. I’m going to believe that your real estate agent is good at what they do though and answer your question based on that perspective. You mention you are in sales so you compare what you do to what we do. Yes, we both deal with people in our jobs and yes, we both have customers. In the real estate industry though, we can’t operate by “the customer is always right.”

 

Let me explain. For example- On the buyer’s side, it is our job to advise, inform, consult and educate. However, we can’t bend rules and do whatever we want or you want. In real estate sales our product is another person’s home and it is legally another person’s home, until we close the deal.

 

In real estate sales we have to answer to the owners of the property, the other agent (co-broke), our Broker, and the Wisconsin Department of Regulation and Licensing. In real estate sales, we are accountable to many different people, sources, and entities- besides just our customer. We have to follow rules and laws, or we could lose our license to sell real estate. (This would be similar to a lawyer being disbarred.)

 

When a customer asks us to do something that is not in our norm of opertion procedures, we ask ourselves three questions,

1. Is this legal?

2. Is this ethical?

3. Does it make financial and business sense?

If the answer is YES to all three, we do it. If there is a “no” to any of the questions we don’t do what the customer is asking and try to advise, inform, consult and educate the customer as to why. So frustrated by real estate agent ask your agent why they are not doing what you want and listen. You might actually be asking your real estate agent to break a law in which case I’m sure you understand why it can’t be done. Or maybe your real estate agent is just lazy. If your real estate agent is lazy, I’m sorry, I can’t help you with that.

 

Related Posts:

 

How many showings on a home before an offer?

 

Is now a good time to buy real estate?

 

Why are homes taking so long to sell in Madison, WI?

 

Edyn Real Estate: Mission, Vision, Values and Beliefs

 

To easy to get in. To easy to stay?

 

Jump starting real estate sales career

 

Buyer’s Agent: Should you have one for your transaction?

Dane County Adding More Park Space

From the Wisconsin State Journal

Dane County making largest-ever purchase of park land

Dane County’s largest-ever park purchase — 172 acres in the North Mendota Natural Resource Area in the town of Westport — was announced today by County Executive Kathleen Falk.
The county will seek out partnerships to offset some of the $5.5 million cost for the property, which will also provide a link for the proposed North Mendota Bicycle Trail, a regional trail similar to the Capital City Trail on the southern half of the county that will link Schumacher Farm County Park, Governor Nelson State Park and Pheasant Branch Conservancy.

Dane county and its communities are big on parks and green space. Looks like we are getting even bigger.

Madison has been rated the Most Walkable City and also the #1 Roadbiking City.

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Your Home For Sale Could Be Helping Other Homes Sell Instead

Did you take our quiz yesterday?

If you answered TRUE to 8 or more questions, your home for sale has definitely helped another home sell.

If you answered  TRUE to 5-7 questions, you might want to re-examine your marketing, price, staging and other things. You can read here, about our 10/20 Rule and how many showing you can expect before an offer comes in.

If you answered TRUE to 2-4 questions, you might be in a really slow market or just started marketing your home or many other reasons. The question you should ask yourself is “How motivated are we to sell our home and move?”

Related Posts:

Five things a Seller can do to look better

Feedback from buyers on a home showing

Is now a good time to buy real a home?

Dane County Days On Market

Why are homes taking so long to sell?

Your Home For Sale Could Be Helping Other Homes Sell Instead

Take this quiz to see if your home for sale is helping other homes sell, while you still sit waiting for a buyer.

You might not only be hurting your chances of selling your home but actually helping the competition get theirs sold. Take this 10 question true/false to find out.

true       false

1. My home for sale has been on the market for 90 days or longer?

true        false

2. My home for sale received many showings when it was first listed for sale?

true        false

3. My home for sale still receives an occasional showing?

true        false

4. My home for sale has never received an offer to purchase from a buyer?

true       false

5. We have never done a price reduction on my home for sale?

true       false

6. My home for sale has been on the market longer than the average days on market?

true        false

7. My listing contract already expired once and I have re-listed it?

true       false

8. Other homes in my market area and price range are selling?

true       false

9. My Realtor has suggested a price reduction?

true      false

10. I listed with my current Realtor because they told me they could get me more money than other Realtor’s I was talking with?

Come back tomorrow to find out what your results mean. In the mean time here is some reading to help you get ready to get your property sold.

Five things a Seller can do to look better

Feedback from buyers on a home showing

Don’t over improve your home for sale

How many showings before an offer?

Not just a home

Wasting Time At Open Houses

Coming Home by The 88

I mentioned that I liked the Target ad and the back ground song in that commercial. This is the band, The 88 that are performing the song called “Coming Home”.

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You can’t buy happiness

Make it a great day

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The Three Important Things In Real Estate TV Ads:Boring, Boring, Boring

Yesterday I wondered why do real estate company TV ads suck so bad?

I started skating around the blogosphere ( I figure if you surf the web, you skate the blogos) looking for answers. Over at FoREM, Joel Burlsem wrote,

Real estate ads have become so generic they’re forgettable. Same boring messages. Same boring situations. So who’s going to create the drumming gorilla in real estate?

He gave some great examples in his post, Beating the Drum of Change, of how to do it and how not to do it. I found another commercial, this time from Target, that I think would make a great real estate commercial, the background song is perfect.

Maybe I have it all wrong. Maybe people just want a real estate agent to help them buy and sell four walls and a roof. I keep thinking that people want a HOME. They want a place to celebrate life, milestones, create memories, laugh, cry, love and live. Maybe I’m wrong though.

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Why Are Real Estate Company TV Ad’s So Bad???

Quick.

Name a memorable real estate TV ad. Got it.

Was it clever? Was it funny? Did it convey emotion?

Oh. You can’t even remember one. That’s because real estate TV ad’s suck almost as much as real estate logos. I don’t know if executives at the top just refuse to hire good firms to help with promotion or if they are afraid to take a risk and become memorable.

I recently saw an ad that I was thought was a real estate company ad. I thought it was genius.

In my opinion, Ikea nailed it. This should have been a real estate ad. I wish that real estate company would go this direction with their TV marketing. I also love the new Ikea tagline.

Home-The most important place in the world.

Ikea was selling the idea of home. That home is individual. Home is personal. Home is different for everyone. Ikea didn’t show their product or store through out the entire ad. Ikea is selling “…home is important. We get that. We understand. If you check us out, you might find things that make your home feel more like home.”

What do real estate company’s sell in their TV ads?

• We sell the most homes
• Our Realtor’s are the most professional
• Our Realtor’s care the most
• We have the most Realtor’s
• We wear gold jackets because we have a gold standard
• We have a partnership with Yahoo
• We are the biggest

They don’t get it. Do those things convey the kind of emotion that a real estate transition is? Is it memorable or do real estate TV ads just suck?

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Revisiting “Priced To Sell”

I think Realtor cliche’s are funny. I have been as guilty as anyone in using them, but I am going to strive to eliminate them from my marketing.

What is a Realtor cliche? I wrote a post awhile back and had some great comments added to some Realtor cliches, but in general, it’s a line that a Realtor uses because they are not creative enough to come up with something else.

Here are some lines,

How about sale of the Century!

Handyman’s Special

Don’t miss this one!

Exceptional Value

priced to sell/needs a little work

Excellant location!

You won’t believe this one!

Motivated Seller!

A Must See!

Not A Drive By!

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High End Luxury Homes In Madison

The Capital Times, a local Madison newspaper, wrote a story yesterday about high end luxury homes in the Dane County area.

“While two decades ago even the most expensive homes barely topped $300,000, in Dane County today there are well over 400 single-family homes that are assessed at more than $1 million, and more than 1,000 worth more than $750,000, according to Dane County property tax records.“

So as the rest of the housing market is cooling off, that means that these high end luxury homes are getting really cold right? I mean, The Capital Times had reported that the Parade of Homes this year had the lowest number of homes featured since 1982.

Not the case I guess according to builder, Hart DeNoble in the newest Capital Times article,

“… While low and moderate housing market continues to lag, the million-dollar market is picking up, according to builder Hart DeNoble, who specializes in high-end homes.

“I’m seeing activity picking up, so we’re going to be picking up some new homes here this winter,” he says. “And then by spring I think it’s going to come around quite a bit. It won’t be like it was in ‘04 and ‘05. Those were two banner years. But hopefully we’ll get back to where we should be.”

The Truth About The Dane County Real Estate Market

This post includes real estate market stats and info for  Madison West, Madison East, Cottage Grove, Monona, Middleton, Waunakee, Sun Prairie, Fitchburg, Verona, Stoughton, McFarland and general Dane County.

     “I Want The Truth”

 “You Can’t Handle The Truth!”

 I already shared the stats about the overall Dane County Real Estate market.

Madison East Real Estate (Single Family)

Absorption Rate: 6.6 Months

This makes the Madison East Real Estate almost a sellers market.

Madison West Real Estate (Single Family)

Absorption Rate: 8.4 Months

This puts Madison West Real Estate in a balanced market.

Dane County Real Estate (Single Family)

Absorption Rate: 10.2 months

This makes the overall Dane County single family real estate market a balance market.

Dane County Real Estate (Condo)

Absorption Rate: 21.4 months

This makes the condo market in Dane County a definite Buyer’s Market.

So how is the rest of the Dane County area doing?

Keep in mind, how we are calculating our data.

• Seller’s Market

  • Existing inventory of 6 months or less

• Balance Market

  • Existing inventory of 6-12 months

• Buyer’s Market

  • Existing inventory of 12 months or longer
    

These definitions of markets come from real estate experts such as Dr. Jack C. Harris, an economist with Texas A&M University Real Estate Center that we wrote about in Buyer’s Market, Seller’s Market or Balanced Market. *All stats below are for single family homes.

Cottage Grove Real Estate

Absorption Rate: 12.2 Months

This makes Cottage Grove a Buyer’s Market.

Sun Prairie Real Estate

Absorption Rate: 31.5

This makes Sun Prairie a big Buyer’s Market.

Fitchburg Real Estate

Absorption Rate: 14 months

This makes Fitchburg a Buyer’s Market.

Verona Real Estate

Absorption Rate: 11.6 months

This puts Verona right at the edge of Balanced/Buyer’s Market.

Stoughton Real Estate

Absorption Rate: 11.9 months

This puts Stoughton on the edge of a Balanced/Buyers Market.

Waunakee Real Estate

Absorption Rate: 9.6 months

This makes Waunakee a Balanced Market.

Middleton Real Estate

Absorption Rate: 10 months

This makes Middleton a Balanced Market.

Monona Real Estate

Absorption Rate: 9.2 months

This makes Monona a Balanced Market.

McFarland Real Estate

Absorption Rate: 16.5 months

This makes McFarland a Buyer’s Market.

Related Posts:

5 Things A Seller Can Do To Look Better

Dane County Days On Market

Why are homes taking so long to sell?

How many showing before an offer?

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Is Now a Good Time To Buy real estate?