Search Dane County condos by community at DaneCountyCondoMarket.com - 01/31/11 06:18 AM
We recently shared how you can search Madison condos by price range at MadisonCondoMarket.com.
Now we've also enhanced our web site, DaneCountyCondoMarket.com, by adding "quick search" options for a number of different Dane County communities. Our condo quick search options include the communities of Middleton, Fitchburg, Verona, Waunakee, Monona, Oregon, Sun Prairie, Stoughton and McFarland.
The top search option allows you create your own custom condo search for Dane County and several other counties in South Central Wisconsin. The second option takes you to MadisonCondoMarket.com, where you can search all Madison condos by price range.  The next 9 options automatically display the condos for sale in 9 different Dane County communities, … (0 comments)

Dane County multifamily real estate available at a 25% discount - 01/30/11 06:45 AM
Our analysis of the Dane County gross rent multiplier for multifamily real estate shows the investor from 2010 was able to achieve the same rental income as the investor from 2006, but at a 25% discount. You can read our full article on MadisonIncomeProperties.com.
Also, watch out for a feature article on multifamily investing in next week's Wisconsin State Journal.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.SearchDaneCounty.com
… (2 comments)

Perspective from a multifamily investor - 01/27/11 10:43 PM
I recently shared this article on declining apartment vacancy rates in Madison with several investors. One of the investors wrote me back with the following analysis:
"This is in line with the trend we are seeing on the home ownership side.  People are not buying and instead renting.  The demographic that responds to our ads has changed a lot since 2006.  It is the type of people that would have bought a house had there not been so much uncertainty with the economy.  It is a good time for owning an investment property because:
1) there are plenty of people looking … (1 comments)

Quick Search: Madison condos for sale by price range at MadisonCondoMarket.com - 01/26/11 07:19 AM
We've been improving our web site MadisonCondoMarket.com so it's easier to research the local condo market and search for Madison condos. We've added a number of quick search options so now you can search Madison condos for sale by price range, at the click of a button. See the screen shot from our home page below.
The top search option allows you create your own custom condo search using all of our available search criteria. The second option automatically displays all downtown Madison condos for sale across all price ranges. The next 9 options automatically display Madison condos for sale by price range, from the luxury … (0 comments)

Madison area rental vacancy rates are trending lower - 01/25/11 05:49 AM
Madison Gas & Electric tracks quarterly rental vacancy rates for multifamily real estate in the Madison area. MG&E defines its rental vacancy rate as "the percentage of apartment buildings in MGE's service area that appear to be vacant because the gas and electric service is inactive or the service has been moved to the owner's name."
As you'll see from the graph below the rental vacancy rate in the fourth quarter of 2010 was at its lowest level dating back to the year 2004. The vacancy rate of 2.94% in Q4 of 2010 was less than half the rate of 6.26% recorded in … (0 comments)

Ultra cute home (FURNISHED) on Madison's near west side - $145,900 - 01/24/11 06:04 AM
This adorable 2 bedroom/ 1 bathroom home at 5513 Old Middleton Rd on Madison's near west side is fully furnished and move-in ready - for only $145,900. Check out this narrated video tour for an up-close look at this home. A brief photo tour follows.
This home features a very cute eat-in kitchen.

 
Flowing into a bright living room with hardwood floors...

 
And a wood-burning fireplace.

 
Both bedrooms come with hardwood floors.


 
All of the updating has been completed in the bathroom.

 
The three-season porch offers a relaxing retreat (and can … (2 comments)

Dane County foreclosure of the week: 706 Westward Dr, Verona - 01/22/11 08:07 AM
Foreclosures remain at historically high levels, while the distressed property index continues to climb in Dane County. This year we'll be seeing more and more bank-owned properties hitting the market as they work their way through the foreclosure pipeline. This is one of the reasons we think sales will be higher in 2011. Foreclosures and lower prices will draw buyers back into the market.
One such property is 706 Westward Drive in the city of Verona, located in the Westridge Estates neighborhood and very close to the Epic Systems campus. As of this post this property is offered by Winn Realty and Appraisal at a price … (0 comments)

Dane County distressed property index sets another record in December - 01/21/11 07:15 AM
The Dane County Distressed Property Index reached a new high of 31.6% in December. The index has been climbing in recent months due to historically high foreclosure levels and historically low home and condo sales. We expect the index to remain well above 25% for at least the next several months.

If you are searching for distressed properties: We have two distressed property search tools to assist you with your foreclosure and short sale property search. Both tools are available on our property search menu at DaneCountyMarket.com. Our foreclosure quick search includes pre-programmed searches that allow you to quickly locate short sale and bank-owned properties in 13 … (0 comments)

Seller resolution #5: stay on top of the market - 01/20/11 11:27 PM
Our first seller resolution for the new year is stage your home.
Our second is use professional photos.
Our third is use professional video.
Our fourth is price your home right.  
Our fifth seller resolution for the new year is stay on top of the market.
Many sellers list their home and then quickly lose touch of the new listings, price changes and selling prices in their neighborhood. The best way to stay in touch with the competition is by implementing automated market updates. If you're listing your home with a Realtor, he should implement these updates for you.
The first thing your Realtor can do … (1 comments)

Dane County housing starts lower in December - 01/20/11 07:08 AM
A total of 42 Dane County housing starts were recorded in December, compared to 65 in December of 2009. December was the 7th month in the last 8 to post a year-over-year decrease in housing starts.

The December total was the second lowest out of every December dating back to 1999, the earliest available year with housing start data. The low of 20 housing starts recorded in December of 2008 followed the stock market crash that occurred in the Fall of the same year.

One reason for the low number of housing starts is inventory from other sources in the market. Builders have … (0 comments)

Dane County multifamily sales continue along historically low levels - 01/19/11 06:17 AM
We recently reported the return on investment for Dane County multifamily investors is at its highest level in 10 years.
That's because inventory is high (at over 35 months) and demand remains low. Sales have remained flat over the last 24 months, with many more units expiring rather than selling.  

As you'll see from this graph, the current sales pace is in line with the lowest sales levels of the previous decade.

For more information on Dane County and Madison multifamily investing, visit www.MadisonIncomeProperties.com.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.SearchDaneCounty.com
 
… (0 comments)

Dane County multifamily return on investment highest since the year 2000 - 01/18/11 07:05 AM
The graph below shows the annual gross income to sales price ratio dating back to the year 2000. The ratio began the decade at 12% and declined until 2006, when it bottomed out at 8.8%. Since that time the ratio has been rising. The ratio ended the year 2010 at 11.8%, the highest value since the year 2000.

For more on the Dane County multifamily market, check out our updated monthly report at MadisonIncomeProperties.com.
Dan Miller, Realtor, Keller Williams Realty and www.DaneCountyMarket.com
www.HowWeHelpYouSell.com
www.HowWeHelpYouBuy.com
www.OurRecentSales.com
www.SearchDaneCounty.com
… (0 comments)

Seller resolution #4 - 01/17/11 07:56 AM
Our first seller resolution for the new year is stage your home.
Our second seller resolution is use professional photos.
Our third seller resolution for the new year is use professional video.
Our fourth seller resolution is price your home right.  
 
We've covered the dangers of over-pricing in a buyer's market. Here's one real-life example.
The risk of over-pricing far outweighs the risk of "under-pricing" in our market. The longer an over-priced home sits on the market, the more likely it is that a competing listing will do what it takes from a pricing perspective to generate a sale. When … (2 comments)

Dane County home and condo report - December 2010 - 01/16/11 08:52 AM
We've published our December home and condo report on DaneCountyMarket.com. For a quick overview, see the summary below.
Dane County home and condo sales increased by 6% from last December, and were down 10% year-to-date.

The median home and condo price was up 17.2% in December from December of 2009 (our report explains why). The year-to-date median price was up 2.5% from the year-to-date price in 2009.

The sales total in 2010 ended up being lower than any other year in the decade. We're cautiously optimistic we'll see sales grow in 2011 based on the market activity we're seeing right now. We expect … (0 comments)

Plenty of multifamily foreclosures on the market - 01/15/11 09:42 AM
We track Dane County foreclosures on a monthly basis, and in the course of doing so we're noticing a lot of multifamily foreclosure filings in Dane County.
Many of the buyers who purchased rental properties in the middle part of the decade expected their investments to appreciate in value quickly, at which time their investments could be sold for a profit. Unfortunately many of these properties did not cash flow out of the gate. Investors purchased these properties at historically high prices, and prices have only fallen since.
Although some investors from the middle of the decade have fallen on hard times, it … (1 comments)

Seller resolution #3: use professional video - 01/14/11 06:08 AM
Our first seller resolution for the new year is stage your home.
Our second seller resolution is use professional photos.
Our third seller resolution for the new year is use professional video.
 
Professionally narrated video tours offer four key advantages:
1) Video tours provide buyers with an excellent introduction to a home. There is no better way to preview a home online than to view a professionally produced video.
2) For those sellers who have a wonderfully staged home, video allows sellers to "show off" online. A picture is worth a thousand words. A video is worth ten thousand.
3) Video … (1 comments)

Seller resolution #2: use professional photos - 01/12/11 07:28 AM
Our first seller resolution for the new year was stage your home.
Our second seller resolution is use professional photos.
The number one reason buyers go online is to look at listing photos. The internet is the window to your home, so it's imperative that your home is staged and that the listing photos are of the highest quality. If your home does not look good online, there's a good chance it will be eliminated from contention before a buyer even sees it in person.
We've displayed a few professional photos from some of our recent listings on the selling real estate … (0 comments)

December Dane County home and condo sales - a preview - 01/11/11 12:14 AM
Here's our preview of Dane County home and condo sales from a historical perspective. Our full December home and condo report will be released in the next few days.
The 205 Dane County home sales recorded in December were 12% higher than the 183 homes sold in December of 2009. Home sales in December were lower than the sales totals for every other December dating back to 1991, but the gap between December and the lowest totals of the 1990s has narrowed. The December sales total was within 10% of the 1990s low of 228 in December of 1996. Compare this to November, which was 20% … (0 comments)

Dane County foreclosures up 27.4% in December - 01/10/11 06:47 AM
Dane County foreclosures increased in December after decreasing 3 of the previous 5 months. A total of 149 Dane County foreclosures were filed in December, an increase of 27.4% from the 117 foreclosures filed in December of 2009. The graph below shows monthly foreclosure filings dating back to January of 2005.  

Foreclosures remain high by historical standards. This graph shows the number of Dane County foreclosures filed in every December dating back to 2004. The 149 foreclosures filed in December of 2010 were up by 239% from the 44 foreclosures filed in December of 2004.

Foreclosures in 2010 were the highest of the decade, and were up by 4.3% from … (0 comments)

Seller resolution #1: stage your home - 01/09/11 09:07 AM
A seller's odds for success are improving greatly as we round the corner of the holidays and make our way into the Spring buying season. Even so, there are plenty of homes and condos that won't sell this year.
Some sellers will hope the Spring season brings a successful sale. Others will plan for it by bringing their best effort to the peak buying season. With this in mind we'll be covering a few different resolutions successful sellers will undertake in this new year.
Our first resolution is "stage your home".
Staging helps ensure a home looks its very best online. A home that … (3 comments)

Free foreclosure lists - 01/08/11 04:57 PM
You see and hear a lot of advertisements these days offering free foreclosure lists. Quite often there is some sort of catch that requires your personal information or a payment.
Now more and more Realtors are offering free foreclosure searches without any catch. Our real estate team has two such foreclosure options on the property search menu at DaneCountyMarket.com. One option is our foreclosure quick search, which includes pre-set searches of foreclosure and short sale properties in 13 local communities. Our other option allows you to customize your own foreclosure searches. With this option you can choose to receive email updates according to your own … (1 comments)

Buyer tool: market information - 01/06/11 06:51 AM
We've covered how buyers can research mortgages, schools and school districts, delinquent property taxes, and utility costs. We've also covered how buyers can use systematic property searches to their advantage.
Up-to-date market information is another tool buyers can leverage to their advantage. Some Realtors provide their clients with a market snapshot tool that provides information on current prices and recent closings. A Realtor can also research recent closings on the MLS to help you price your offer. Last, a savvy agent will leverage his knowledge of the market to help you get a good deal.
You can visit our buying real estate page at DaneCountyMarket.com … (2 comments)

Dane County inventory trends - 01/05/11 06:57 AM
We've been reporting Dane County home sales will surprise on the upside when our December data is released. This is a positive development, because single family home inventory has been increasing.
The inventory increase has been confined for the most part to homes priced under $250,000.

The affordable home market has become more challenging for sellers since the expiration of the tax credit. Home sellers this Spring will need to price their homes more competitively than the sellers from last Spring.
For more information on how inventory varies by price range, visit either our buying real estate or selling real … (0 comments)

How prices fall - 01/04/11 07:53 AM
Prices fall one listing at a time. Either a new listing will enter the market at a very competitive price, or an existing listing will lower its price to the leading edge, giving it the pricing it needs to sell.
The danger of over-pricing in this market is there is always another seller who is willing to do what it takes from a pricing standpoint to guaranty a sale. When this happens the bar is suddenly set lower, and an over-priced home suddenly becomes very over-priced. Pricing is like a game of leap frog, and it is a game you don't want … (0 comments)

Systematic property searches - 01/02/11 11:09 PM
We've covered how buyers can research mortgages, schools and school districts, delinquent property taxes, and utility costs.
A systematic property search is another very useful buyer tool. Many online search tools allow buyers to save their search criteria and receive automatic email updates when new listings enter the market and when existing listings undergo a price reduction. The automatic updates help ensure buyers are aware of properties and price changes shortly after they hit the MLS.
This brief article on the buying real estate page at DaneCountyMarket.com explains how you can use our property search tool to save your search settings and receive automatic listing updates.
Your … (0 comments)

NAR pending homes sales index points to higher sales - 01/02/11 08:41 AM
The National Association of Realtors recently released its November Pending Home Sales Index report. The numbers were mildly encouraging. The November non-seasonally adjusted pending home sales index was at 76.2, which was just below the level from November of 2009, but above the levels recorded in November 2007 and 2008.

The pending home sales data suggests existing home sales figures for December and January (when released) will show sales figures that are slightly above historic lows. This mirrors the sales trends we are seeing in our market. When our December Dane County home and condo report is released, the data will include … (2 comments)

 
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Dan Miller

Madison, WI

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Keller Williams Realty, Madison, Wisconsin

Address: 3 Point Place, Madison, WI, 53719

Office Phone: (608) 852-7071

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