Kara's Blog

Mt. Horeb October Market News

2008-11-20T07:21:19Z

As my idol in St. Paul likes to say, the following statistics are from our Southwestern Wisconsin MLS and are deemed reliable but not guaranteed.

If you'd like to receive these monthly stats for your community or neighborhood, shoot me an email and I'll put you on my list!

Mt. Horeb

8 homes sold
Average sale price of $262,780 (about 96% of list)
4 of those 8 were $300,000+
Additional 6 homes have accepted offers or offers pending

Verona

8 homes sold
Average sale price of $307,087 (about 97% of list)
6 homes about $300,000 or more
Additional 9 homes with accepted or pending offers (1/2 of which are over $300,000)

Blue Mounds and Barneveld--sorry guys--no action there last month except for accepted offers on a few farm properties.

Is Mt. Horeb Recession Proof?

2008-11-20T07:19:35Z

In case you missed the article in last week's Mt. Horeb Mail, you can click here to read! Realtors speak out about local housing market.

Showing your house 101

2008-09-10T08:34:19Z

I was hoping that HGTV had disspelled the myth that the smell of freshly baked cookies or the right scented candle was the key to a successful showing or open house. Unfortunately, there are still some people stuck in that mode. There are really only TWO things within a sellers control for a positive open house:

1) You must overly clean your house. I don't mean just vacuum and dust. I mean degrime your faucets, clean the tile grout, the burner pans on your oven, the handles on your frigerator door--clean it all. It is a must in today's competitive market!

2) Declutter. Some owners have done a great job at depersonalizing and getting rid of knick knacks. However, there is still a fair amount of daily life that comes with clutter that you should remove for showings and open houses.

Clear counter tops of the utensil holders, small appliances (toasters, can openers, etc), and cutting boards. When in doubt, clear it all out.
Don't have sponges or hand towels or even dishracks in the sink.
Pet food and water dishes should be out of sight.
Office areas should look organized and very streamlined. I would hide as much as you can!

You can bring all these things back out to live in your house...just have a place for them for when potential buyers are coming through.

It's important to remember, too, that potential buyers often look behind shower curtains, in cupboards and pantries and in closets. You can "shove" it all in there, but it should still look organized. Otherwise it truly is a charade and buyers don't like to feel like they are being "faked out".

Good luck and go get 'em!

More on Gas Price Impact on Madison Area Suburban Sales

2008-08-13T07:00:00Z

The Wisconsin State Journal published an article yesterday (Tuesday, August 12) about the impact gas prices have had on Suburban Home prices. I still stand by my original post.

Here's the link: http://www.madison.com/wsj/home/local/300210

Make sure to read the feedback forum that follows the article. There are also some cool links in an inset box to check out--especially the chart that has commuting costs vs. lower home prices!!

Gas Prices Effecting Suburb Sales?

2008-08-06T07:11:57Z

A couple weeks back, the Capital Times published an article called "Bust Times for the 'Burbs" about how gas prices were causing people to buy closer to metropolitan areas to avoid commute times.My first inclination was to completely agree that this may be true, especially when I look at the great little communities of Blue Mounds and Barneveld, communities that have great value in home prices but are seeing a very slow market.I also was tending to agree because I am one of those workers that has the fortunate opportunity to work from home to avoid the cost of gas and that's exactly what I chose to do last fall.

However, then I realized one problem with that theory--at least with Mt. Horeb. First, I know for a fact that my commute and the commute of anyone who has to drive the beltline is exactly the same. It takes me about 22 minutes to get from my door to my west side office door.I know it takes my co-workers that same amount of time due to high traffic volumes in Madison.Now, I'm not an expert in how gas is used idling vs. driving, but I would be surprised if I learned that it was that much of a difference.

Then, lets consider the price difference to buy in Madison vs. Mt. Horeb. You can find more, cheaper homes in Madison, but clearly a metropolitan area will have more inventory. It's what you get for your money that is different: older vs. newer, busy neighborhood vs. quiet, etc. Not only that but when you consider how your taxes can jump living in Madison vs. a suburb, there may not be much of a monetary savings at all.

I know my "green" friends will scold me lovingly to tell me its not always about the money, but about conserving our resources. I get that.The article's focus, however, WAS on the money. Since this is a rebuttal to that article, I felt I must address their issues. Not only that but people move outside metropolitan areas for a way of life, and that desire for that smaller town life isn't a fad. It's been around a long time...I think it will stay around for awhile too.

First Time Homebuyers MUST Read

2008-08-05T19:17:28Z

Have you heard about the newly enacted legislation crediting first time home buyers $7500 on their taxes??

Read more about it here! http://www.federalhousingtaxcredit.com/

There are some income limits ($95,000 for individuals, $170,000 for couples), but in general there doesn't seem like a lot of hoops to jump through.?

Not sure what a "tax credit" is?? Check out #11 on the Frequently Asked Questions of that website.

I'd take it!!

Mt. Horeb Rated #1 Suburb

2008-08-03T07:52:37Z

Mt. Horeb has flown under the radar as a great place to live for years, but now it's official. Madison Magazine rated it the #1 Madison suburb. The magazine looked at things such as population, crime rate, property taxes, housing, appreciation, culture, schools and government services.

If someone asked me why Mt. Horeb is a great place to live I would give you the following top 3 reasons:

Schools: AMAZING teachers and low class sizes have equaled a great educational experience for kids
Rec Department: Parent volunteers play a large part in the great sport/activity offering from our rec department. Soccer, baseball, gymnastics, and swimming programs are not only cheap--they are excellent.
Sense of community: While hard to measure on a day to day basis, certain community events like the lighting of the fire house Christmas tree, Relay for Life, and the high school Homecoming make you feel like you are a part of something really cool.

Of course, I have kids so I'm looking at this town through those eyes. Feel free to weigh in on why you think Mt. Horeb is a great place to live!

Open Houses in Vista Ridge Today

2008-08-03T07:51:08Z

Always trying to increase traffic at open houses, a few Realtors and I decided to band together and hold open houses at the same time on the same Sunday. Today there are five open houses in Vista Ridge subdivision in Mt. Horeb at the following addresses (MLS numbers are listed for you to search for more information at karathomashomes.com).

1004 Vista Ridge (MLS# 1522805): Open 12-2 4 bed, 3 bath, 2745 sf ranch w/ open floor plan and expansive walkout lower level. VPR $264,900-$274,900
1009 Vista Ridge (MLS#1522437): Open 12-3 3 bed, 1 3/4 bath, 1636 sf tri-level with vaulted ceilings, walkout lower level and large mature lot. $214,900
1017 Vista Ridge (MLS#1529571): Open 12-3 3 bed, 2 ba, 1660 trilevel home with vaulted ceilings, deck, finished lower level with gas fireplace. $215,900.
108 Stonefield Circle (MLS#1523803) Open 12:30-3:30 4 bed, 3 bath, 1767 sf bi-level home on cul-de-sac lot with great deck and theatre room. $229,900
816 Vista Ridge (MLS#1514880) Open 1-3 3-4 bed, 2 full, 2 1/2 bath 1879 sf colonial has exposed finished lower level, lots of updates, oak staircase and a great master bedroom. $232,900.

Everyone always asks why there are so many homes for sale in this area. The truth is that there isn't anything "wrong" with the neighborhood. If you look at these homes, some of them are relatively small and if the family has grown, they may have outgrown them. For my listing, they simply are moving to a lot in the country. I know a couple of them are job relocations. The neighborhood is great, so don't be fooled by the number of open houses and come check them out!

Mt. Horeb Neighborhood Statistics

2008-05-27T14:26:28Z

Few Mt. Horeb Neighborhoods and Median Sale Prices

All statistics from Southwestern Wisconsin MLS. Deemed reliable but not guaranteed.

Valley View Heights: $304,000
Hickory Hills: $314,900 (only one home sold)
Sutter Prairie Ridge: $282,500 (all but one were brand new homes)
North Cape Commons: $295,000 (all brand new)
Vista Ridge: $222,000 (all about 10 yrs old and 2100 sf and under)
Kara View Heights: $215,000 (20-30 yr old homes)
Nordic Hills: $278,900
Trotter Glen: $250,476
Brookstone Ridge: $247,700

There are many neighborhoods in Mt. Horeb. These are just some of the "subdivisions" in town. If you'd like to know something more specific about your area either in Mt. Horeb or the surrounding area, I'd be happy to run those stats for you!

Do you want to sell your house?

2008-05-27T14:24:48Z

I showed many homes this weekend and here's a taste of what we experienced:

A Five year old home that felt 30 and smelled like cat.
A lawn so overgrown with dandelions, the work involved to get it under control was overwhelming.
A home that still had Christmas decorations up (actually I was in one with Halloween too this weekend).
A home with so much mail and clutter (even the shower stall was full) that we couldn't see the house.
Realtors that didn't return call requests for a showing

One of my clients said as we left the Christmas decoration house: do these people WANT to sell their homes? Good question...

The one that really surprises me was the five year old home. It was a very nice home, has acreage and is just minutes to town. However, it needs new carpeting and a serious round of lawn care. The home just dropped its price $100K! It's now priced way under market and still not selling! Just think if the carpeting was replaced OR, at the very minimum, the yard was kept up and given some curb appeal.

I know getting a home ready to sell can be inconvenient and some of the things that should be done may cost money that just isn't available. However, at the very minimum, a house should be cleaned and kept up. "Well cared for" or "well maintained" is an important selling feature, and not doing so is going to cost money on the sale.

I've said it before, and I'll say it again: Real Estate is Local

2008-05-20T06:58:56Z

Real estate is local. While statistics on entire states, counties or even nearby cities is interesting, and sometimes shocking, if its not a statistic for your town, its probably not going to help you make any hard real estate decisions. The average sale price of Sun Prairie has nothing to do with the average sale price in Mazomanie, so using Dane County statistics to price either is not a good strategy.

I would even argue that real estate is hyper-local: Certain neighborhoods in certain towns are "hot"--they have higher sale prices and lower days on market than other neighborhoods in the same town. Even price ranges in certain towns are seeing great success in this slower market.

As I said in a recent blog, anything can happen in this business. I may take a listing where the statistics point to a lower price and a long time on the market-- and it will sell in 24 hours. The converse can also happen. It's impossible to look into a crystal ball to see what pool of buyers are in the market at any given time, when they will buy, or how much they will pay. I can only tell you what the recent history is for your size, type and location and we'll do our best from there.

If you are looking to sell or buy, make sure the numbers you are looking at most closely resemble your home or prospective home.

Service with a Smile (or My Experience at Bistro 101)

2008-05-10T07:28:30Z

To some degree I'm a customer service rep. I provide a service, and I represent my client's best interests. If I were to take one of those strength and weakness inventories, I would say this is my strength. In no way, do I ever have delusions that any of my business relationships or transactions are all about me. I don't think of any transaction in terms of winning or losing, what it will do to my "stats" or how good or bad I'll look. I figure doing the right thing and doing it well will ultimately take care of anything else.

Because of this outlook on my career, I am very sensitive to customer service in general. When I get great customer service, every one in my life knows about that company. Even something as simple as a friendly voice answering a phone can make me excited about that business. The opposite is also true. I wouldn't say I'm one of those statistical unhappy customers who tells 11 people, but if that business comes up I usually share my unhappy experience.

A new restaurant opened in my little town called Bistro 101. It's a big deal. We don't have a lot of restaurant choices. As one of those people who loves to keeps business local, I'm happy to have another place to go to eat in this town. Apparently, many feel the same way I do as the place is packed.

The problem with any new restaurant is that they have to work out the kinks. The staff needs time to learn the menu, the drink list, the flow of service. Bistro 101 is definately experiencing kinks, but thank goodness the chef and the manager are smart enough to do whatever it takes to keep us customers happy. I will honestly tell you our service was not great, the timing of food and drink was not the best---all things that are normal for a new restaurant. However, because of the way my party was treated, I still walked away thinking it was a great place to eat, drink and be merry and I do plan on returning.

The moral of my story is that in almost any customer service situation: it's not about you. It's not personal, it's not about you being right or wrong, it's about the person on the other end of the service. A little sunshine goes a long way. Even when there is a screw up (real or perceived), there is still an opportunity to leave a lasting positive impression if you just remember: its not about you.

Open House Sundays

2008-05-04T10:43:50Z

I'm doing an open house today. I'm not a huge fan of open houses, and therefore I don't do many of them. The chance of that open house selling the house that is open is very, very small. Very small. However, I like to do them for new listings to introduce them to the market or when there is a price reduction to introduce it to new buyers at that price point.

There are all sorts of so-called strategies for making an open house appealing: lighting candles, lighting a fire, baking cookies, playing soft music. I'm not sure any of that matters (except for maybe lighting a fire which helped seal a deal for me on a cold February Sunday). I know some believe strongly in professional flyers or brochures. I just have issues with that much ink ultimately ending up in someone's garbage. Some of my colleagues do nothing for an open house but show up and grab customers with their sparkling personalities.

As Realtors, we are taught to really market our open houses aside from just putting them in the Sunday Homes section of the newspaper. It's suggested that we send out invites to the neighborhood, post it on as many websites as possible, and of course, make sure to have plenty of directional signs. However, even with all that done and even done well, the chance of drawing a large crowd or even a real, earnest buyer for THAT house is small.

Many sellers really want their Realtors to do open houses--even every Sunday. They don't mind sacrificing 2 hours away from home even if there is a small chance that that two hours may produce a buyer. And many of my colleagues love to do open houses, especially new Realtors looking for potential buyers, if not for that house, for another. I guess if all parties are agreeable, it's a win-win.

So today I'm doing an open house. It's a new listing and that will hopefully peak some curiousity and bring out someone interested in buying. I'm not baking cookies, bread, lighting a fire or any candles. I'm relying on the house to sell itself with its 4 bedrooms, huge lot and great price. Maybe I'll even bring in my sparkling personality...

STOP BY 516 WOODVALE in DEFOREST from 12-2! MLS #1518799

Golden Rule Always Applies

2008-05-02T07:02:22Z

For many people, selling and buying a home is the largest financial transaction of a lifetime. For that reason, and in light of recent market changes, real estate transactions run the gammet of stresses, tensions, and contentions.

The thing is....it doesn't have to be. A couple of my current transactions are my case in point. There are plenty of reasons both transactions could be contentious: inspection issues, high radon readings, tricky financing. But they aren't because all parties involved aren't just thinking of themselves. The listing agent, the buyers agent, the buyer and the seller are all treating each other with mutual respect and consideration. I believe we are all putting ourselves in the others' shoes and envisioning how we would want to be treated. No one is taking advantage and everyone is working together for a mutually beneficial outcome.

I think that rather than treating negotiations like a game where there is a winner and a loser, it's better just to treat each other like people...and like you would want to be treated if you were on the other side of the fence.

Mt. Horeb Area Market Update

2008-04-16T10:24:52Z

The 1st quarter in real estate has ended and the stats are in, and everybody loves the stats. The following statistics are from the South Central Wisconsin MLS and, to quote my favorite blogger, they are deemed reliable but are not guaranteed. The problem with market snapshots like these is that there are a number of ways to look at the market. This particular view is by school district. In some respects, I'm comparing apples to oranges because I know some of these homes are in the city and some in the country. But then I could factor in all sorts of specifics like age, number of bedrooms, square footage, and this blog would go on forever. However, if you have a specific question about the market you home would be in, I'd be happy to help--no strings attached.

Mt. Horeb School District

Currently, 137 homes on the market.
Current average List Price = $337,000
23 Sold Jan. - Mar.
Ave Sale Price = $258,234

(because Mt. Horeb is my primary market I want to add that there are currently 15 additional homes that have accepted offers or are pending sale for a total of 38 homes with transactions in the works or finished)

Verona Area School District

Currently, 171 homes on the market
Current average List Price = $368,226
40 sold Jan. - Mar
Ave. Sale Price = $297,545

Middleton-Cross Plains School District

Currently, 240 homes on the market
Current average List Price = $535,703
42 sold Jan-Mar
Ave. Sale Price = $408, 102

Barneveld School District

Currently, 21 homes on the market

Current average List Price = $311,376

2 sold Jan. - Mar

Ave. Sale Price = $160,000

Dodgeville School District

Currently, 92 homes on the market

Current average List Price = $212,964

16 sold Jan. - Mar

Ave. Sale Price = $179,431

Wisconsin Heights School District

Currently, 51 homes on the market

Current average List Price = $365,309

13 sold Jan. - Mar

Ave. Sale Price = $291,115

Dear Sellers, Love Buyers

2008-04-12T09:49:21Z

Sellers, I hate to tell you but there are few things that no buyer is desiring at this point. I'm not trying to offend you, but it's the truth, and if you change them, you are likely to get your home sold sooner and closer to your list price. I know it's not what you want to hear, but as a Realtor who works primarily with buyers, I'm telling you what they are feeling.

Wallpaper. Not one of my buyers has ever walked into a wall papered home and said "I love it". Ever. Buyers look at wallpaper and see a bunch of work ahead of them. And it doesn't excite them.
Faux Painting. A notch above wallpaper, but not by much. At least it's only paint and easier to change. So I would change it.
Colored Carpeting. As in Emerald Green, Mauve, Blue, or Red. Even if they are only in a bedroom. Replacing this carpeting with a nice neutral carpet will greatly impact the feel of the house. Wise investment.
70's Laminate flooring. See Colored Carpeting. Same concept.
Dirty, scuffed walls. They make the whole house seem worn. For a little elbow grease & a little money, you can make your house feel worth much, much more.
Dirt in general. If your home isn't clean, it looks like you haven't cared for it at all. If you do nothing else, CLEAN. "Well cared for" is a big selling point.
Too much of anything. Pack it up. That bobble head collection, those Precious Moments--yes. Remove them and the curio cabinet you keep them in. Dried floral arrangements (or floral in general), baskets--take them off the walls and shelves.
Animal heads. They impress few and detract for many. They make it hard for the average buyer to imagine themselves living there.
The more conscientious sellers ask me the following questions:
What about paint colors? Technically, neutral is best. However, color is very acceptable and desirable right now. It can warm up the home and even make it feel "richer" if done well. It just depends...
What about family pictures? If you have them lining a hallway, remove them. If they are in cheap metal frames, take them off the wall. However, I do not advocate removing every personal item. I like Nate Berkus's (Oprah's designer) philosophy of "your home should reflect a life well lived". In other words, if you have kids' rooms, you should have a few pictures of the kids here. Happy pictures make buyers feel they could be happy there too. I've taken buyers through homes with no personal items and their comment is always that the house feels "eerie" and "cold".
A couple more tips for those wanting to go the extra mile:
- Brass. Buyers are allergic to it. Even if you just switch out the main living areas, your house will feel worth more.
- VERY Out dated furniture. Even though it's not staying, it freaks buyers out, distracts them. If it's a wild floral pattern or old brown tweed plaid, slipcovering even just one piece will make a difference.

Photography & Real Estate

2008-04-09T06:58:01Z

I sent some listings to a buyer yesterday and just heard back from him. There was a home in the mix that sounded (from the Realtor comments) just about right for him. His response: "No, because there is only one picture". His sense was that if the only picture was of the outside, the inside must be horrible. I've had other experiences like this. Buyers not wanting to see homes because they were "too dark" or because rooms looked too small (especially if you can't even fit the whole room in the picture). It amazes me that Realtors take some really bad pictures when photographs are the central of any marketing materials.

Photographs that accompany home listings on the Web or in brochures, newspaper advertisements, flyers, magazine articles and other marketing materials play a significant role in attracting buyers. These images serve as the first impression, and buyers often decide whether or not to see a home in person based on their quality and presentation. According to the Wisconsin Realtors Association, research reveals that the more photos a listing has, the quicker it sells. A property with a single photo spent 70 days on the market (DOM) on average, while DOM fell to 40 with six photos, 36 with 16 to 19 photos, and 32 with 20 photos. Additionally, listings with one photo sold for 91.2 percent of the original price, while homes with six or more sold for 95 percent of the original price. I wish there were some formal research regarding virtual tours. My guess is that they aid the quicker sale/ best price theory as well.

If your home is currently sitting, check out the pictures of it online. Do they put your homes best face forward?

PS. If you put your home on the market in the winter, make sure some spring pics get online as your yard starts to look nicer. Be patient with your Realtor if he/she wants to come back and take more pictures.. It's important to get the right lighting and the best vantage point. We aren't professional photographers, but with some patience, we can get it right.

Mount Horeb Real State Success Stories

2008-04-07T07:32:02Z

My favorite stories in my personal career in real estate involve getting my buyers the house they had been searching for for about a year.

My first stories involve buyers from out of state. They had sold their home there and were in a race against time to find a home to move into. They had looked in Mt. Horeb and had fallen in love. They knew they wanted an old house with character but not a fixer upper. They had looked so much they even knew their favorite neighborhoods. But nothing was on the market. So I drafted a letter to send to homeowners in those character filled, old home neighborhoods to see if anyone was thinking of selling. Sure enough, someone was. She was hesitant to pay a Realtor as she hadn't lived in the home to truly make a good deal of money on it. So I wrote the offer that was a win-win for everyone. It was a great situation! I'm still so thankful to that homeowner for answering that letter. Many seller think those are Realtor "traps" to get a listing--that we really don't have a buyer. Truth is, I never listed that house, and in fact, didn't make a whole lot of money on that transaction, but the payment isn't always monetary. I have two great new friends in town, and the way it all worked out made me feel like a million bucks!

My other story is quite similar. My buyers have been looking for over a year for something very specific. As we were driving home from a showing, they pointed to a house and said, "why doesn't something like THAT come on the market?". Turns out I knew the neighbors of those homeowners and mentioned to them that I had clients wanting to live there. They told me they thought they were going into foreclosure. I did a search and hold on the title--turns out they were right. Therefore, I wrote a letter to the owners tellig them about my buyers and my experience working with foreclosures. Right now I'm helping them with the lender to get an offer accepted!

Here's why that story makes me feel great about my job. These sellers had their lender calling them and sending letters, but they weren't responding. They were in a place emotionally where they were embarrassed, afraid and somewhat in denial. We all live in a small town where its scary to have people know your personal trials for fear of judgement. Thankfully, they put their trust in me and this situation is now completely under control. They will not face foreclosure, and they are able to even sell in a situation that will allow them to walk away from the closing table with a little cash in their pocket. Mrs. Seller thanked me profusely the other day because now she is able to sleep at night. I'm thankful they trusted me to help.

Wahoo for Keller Williams

2008-04-07T07:30:17Z

I just have to share the news our broker shared with us today:

Keller Williams Madison has wrapped up the first quarter as the #1 office in our entire MLS for sold volume and units.

MADISON MARKET - Single Family Sales

2007 1st quarter = 538 Sold
2008 1st quarter = 335 Sold
Down -37.73%

MADISON WEST - Total Sold Volume 2007

1st quarter = 30,580,558 2008
1st quarter = 31,112,959
Up 1.7%

We are out performing the market by 39+%!

Keller Williams has only been in the Madison area since 2003, and it is a different way of doing real estate.The company model and culture have been studies by Yale and Harvard business schools. If you'd like to know more about why its different (and great) I'd love to share that with you. I am proud to work for this company and so happy that we have grown to such a high level of achievement. Way to go, KW!!

Water Cooler Real Estate

2008-04-07T07:26:22Z

It's interesting to me how many people talk real estate. It's everywhere I go, all day long. At swimming lessons, at the coffee house, at school drop offs and pick ups, at church, at parks...Sometimes I'm sure people bring it up because it's what I do, but many times I'm just overhearing bits and pieces of conversations.

What most people are talking about in this area are the number of homes on the market. Currently in the Mt. Horeb School District there are 133 homes on the market. I think that's the highest I've seen it in recent years. I'm trusting that you readers understand that this is a challenge for sellers and those of you thinking of entering the market. The upside is that there are a lot of really GREAT homes on the market right now in every price range. I'm more excited about our inventory here in the Mt. Horeb Area than I have been in awhile. I hope the quality of homes brings buyers into the market.

(FYI, of those 133 homes, 16 currently have accepted offers. Of those 16, 11 of them were listed at $250,000 and below.. That gives you a sense of price range most buyers are in).

Which leads me to price--another hot watercooler topic. People are always talking about what their neighbors sold for, what their appraisal said and what they need to get out of the sale. However, the general rule in real estate is that "a house will only sell for what a ready, willing and able buyer is willing to pay for it". This market is in a state of great flux. Last year, last month--that doesn't really matter. My best general advice these days is that a home needs to be in the top 1/3 for condition and the bottom 1/3 for price to sell quickly ( I have a whole tangent on price that I'll skip here--maybe another blog).

I am often asked point blank: "do you think that house is overpriced?" While I usually dance around that question, I will go on the record here that I think MANY homes (and land parcels) are overpriced. I believe there is currently a stand off of sorts. Buyers are refusing to buy until prices go down, and sellers are refusing to sell at prices buyers will pay. There are many sellers that feel that current state of the market applies to everyone but them. To the sellers that get it--I want you to know I know who you are. I send your listing out to everyone I know because I am so happy you and your real estate team got it right! I am so happy that I will do free advertising for other agents! Not that they need it; because they got it right; their homes fly off the market!

The other question I often get asked around town is "Have you seen that house on X street?" This is my favorite question. And thanks to my buyer clients out there--I can say "yes I have!" I'm not one of those Realtors who complains about taking buyers around because showing homes is one of my favorite parts of this job. I'm not upset if we look and look and my buyers don't find THE one. For me, it's market research. And thanks to my buyer clients, I know my market.

So what real estate topics are floating around your watercooler?

Facing Foreclosure?

2008-04-01T11:31:45Z

People in my small town have been solicited by companies offering to save them foreclosure. Please just walk away from these solicitations!

Click on this link for more info from the Wisconsin Realtors Association http://news.wra.org/story.asp?a=893

The best part of the article is down at the end where the links to legitimate help lines are located.

I know its hard for homeowners to look for help with financial matters this serious, but there is assistance out there. You are not alone, and there is no judgement. Just look for someone you trust to help you--and its not those people who offer to buy your homes and take your debt!

Mt. Horeb Area Real Estate Market

2008-03-17T19:38:30Z

RESIDENTIAL SOLD STATISTICS

JAN-FEB 2008 (by School District)

Verona

141 Active Listings
22 Homes Sold
$315,000 Ave Sale Price
List/Sale Price Ratio 96%

Mount Horeb

116 Active Listings
11 Homes Sold
$255,000 Ave. Sale Price
List/Sale Price Ratio 95%

Middleton

212 Active Listings
22 Homes Sold
$399,000 Ave Sale Price
List/Sale Price Ratio 96%

Dodgeville

78 Active Listings
7 Homes Sold
$120,000 Ave Sale Price
List Price/Sale Price Ratio 96%

REMEMBER: This is ONLY Jan-Feb. 2008 Data by School District (see heading)

If you would like more information on your community, please contact me at karathomas@kw.com or 608-669-4811. I love to talk shop!

What's happening in the Mt. Horeb Real Estate Market?

2008-03-13T21:03:17Z

Mt. Horeb is a small community about 25 minutes West of Madison, WI. Over the past few years, there has been a lot of development--a lot of new construction, new subdivisions, new businesses--but the core of the city remains historic and quaint.

Currently Mt. Horeb School District (including Blue Mounds and the smaller feeding townships) has about 118 listings with 11 properties closed in Jan and Feb. 2008. There are currenlty 11 additional properties that have accepted offers.

Mt. Horeb was reassessed in 2006 with 2007 assessment values indicating over 100% of fair market value.

If you are interested in moving to the Madison area, but are looking to live outside the city, check out my homeblog at http://www.mthorebrealestateblog.typepad.com/ for market news for ALL of Western Dane County and even Eastern Iowa County (Barneveld and Dodgeville)

Pack it Up!!

2008-03-05T10:13:37Z

I showed a house the other day that literally made me gasp. There was so many collectibles in this house that my buyer didn't even notice the layout of the home for sure. She was too busy looking at pictures, counting the number of hats, looking at all the figurines.

Sellers, I apologize for my bluntness here, but your listing agent should have told you! If you want to sell your house, you need to pack it up--your belongings, that is. If your house is on the market you were planning to move anyway so just start packing a little early. Anything you don't NEED on a daily basis should go in a box. Clearly there should be some decor left to show off the house--but only the things that show off the HOUSE that you are trying to SELL. You aren't marketing your STUFF you are marketing your home!

As a Realtor, one of the hardest things to do is to inform sellers that there are changes that need to be made in the home they have made and likely love. However, my client-sellers hire me to do a job--sell the home in the least amount of time for the most amount of money. If I don't help them prepare the house (the product), then I am not doing my job.

Why settle for Good when you can have Great

2008-02-27T13:24:50Z

I showed a handful of houses the other day. Today I received two calls from two owners/sellers of those homes. The startling fact: Neither home is my listing. The sellers were calling me to ask for showing feedback as well as tips to sell their home. I was a bit taken aback--I asked if they had a limited service listing with their agent. The answer was no. I politely asked why their agent wasn't calling me. They told me that they can never get a hold of him and that it takes too long to get information. I'm sure that these sellers aren't the only two feeling this way. But I have to ask myself, why do they put up with it?

Selling a home usually the largest financial transaction that the average person does in his/her lifetime. I would think a homeowner would want someone that is truly working on their behalf, working for their money and working at it full time.

In my opinion a great Realtor would have the following characteristics:

1. Communication skills. At the very least a Realtor should have the courtesy and respect for the client to return a phone call. Promptly. However, a Realtor needs also to be skilled in communicating respectfully with all parties whether it be asking for feedback, presenting offers and counter offers, diffusing difficult situations (vs. adding to them) and giving sometimes bad news.

2. Pride in their Listing to present them professionally. This means three things:

Staging the home to put its best foot forward. It doesn't have to even be done professionally! A Realtor who fails to educate their seller about how to prepare their home for sale, isn't marketing the home.
QUALITY PICTURES. A buyer is not going to buy what they can't see--worse--they won't even get in the door.
Professional flyers and advertisements.

3. Strong Internet Marketing skills. According to the National Association of Realtors, over 80% of buyers start their home search on-line. What websites is your Realtor on? Do they even have a website? Do they know about Craigslist or v-flyers?

4. Knowledge of the Market. I have lost a few listings in my time. Why? Because I will not lie to a seller and tell them they can get $X just so I can have my sign in the yard. In my opinion, a Realtor who takes an overpriced listing is one that hasn't researched the market or lacks the communication skills to effectively educate the seller about why overpricing the house is a great disservice to them.

Thanks for tuning in...

Kara Thomas, Realtor, Accredited Staging Professional, Photography Enthusiast, Internet Advertiser and Real Estate Junky!